Segment Reporting

6 Months Ended

Jul. 31, 2024

Segment Reporting [Abstract]

Segment Reporting

15. Segment Reporting

The Company operates in one operating and reporting segment related to the development and sales of low-power, HD, Ultra HD video compression, image processing and AI computer vision solutions. The Chief Executive Officer of the Company has been identified as the Chief Operating Decision Maker (the CODM) and manages the Company’s operations as a whole. For the purpose of evaluating financial performance and allocating resources, the CODM reviews financial information presented on a consolidated basis accompanied by information by customer and geographic region.

Geographic Revenue

The following table sets forth the Company’s revenue by geographic region based on bill-to location for the periods indicated.

	Three Months Ended July 31,				Six Months Ended July 31,
	2024		2023		2024		2023
	(in thousands)
Taiwan	$	39,830	$	33,482	$	73,515	$	64,116
Asia Pacific		13,620		15,473		26,370		31,078
Europe		5,744		2,673		9,943		6,189
North America other than United States		3,507		8,498		6,277		19,375
United States		1,023		1,995		2,092		3,505
Total revenue	$	63,724	$	62,121	$	118,197	$	124,263

Substantially all of the Company’s property and equipment were located in the Asia Pacific region, United States and Europe. As of July 31, 2024, the net amount of these fixed assets located in these regions was approximately $4.7 million, $3.2 million and $1.1 million, respectively. As of January 31, 2024, the net amount of these fixed assets located in these regions was approximately $5.3 million, $3.9 million and $1.2 million, respectively.

Major Customers

For the three months ended July 31, 2024, the customers representing 10% or more of revenue were WT and Hakuto, which accounted for approximately 62.5% and 10.2% of total revenue, respectively. For the six months ended July 31, 2024, the customer representing 10% or more of revenue was WT, which accounted for approximately 62.2% of total revenue. In the prior fiscal year, the customers representing 10% or more of revenue were WT and Chicony, which accounted for approximately 53.9% and 13.7% of total revenue for the three months ended July 31, 2023, respectively, and accounted for approximately 51.5% and 14.8% of total revenue for the six months ended July 31, 2023, respectively.

Accounts receivable with WT and Hakuto were approximately $11.4 million and $0.7 million as of July 31, 2024, respectively. Accounts receivable with WT and Chicony were approximately $10.3 million and $7.0 million as of January 31, 2024, respectively.