Segment Reporting

3 Months Ended

Apr. 30, 2025

Segment Reporting [Abstract]

Segment Reporting

15. Segment Reporting

The Company operates as a single operating and reportable segment and derives substantially all of its revenue from development and sales of low-power AI-based processing and video and image processing SoC solutions. In determination of a reportable segment, the Company considers the research and development deployed, the nature of production process, the distribution channels of SoCs, as well as the Company’s management structure. 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. The CODM uses net loss presented on a consolidated basis to evaluate the financial performance and allocate resources. The CODM also monitors budget versus actual results of the operating segment. The measure of reportable segment assets is reported within the condensed consolidated balance sheets as total assets. The accounting policies for the measurement of net loss and total assets of the reportable segment have been described in the Note 1, Organization and Summary of Significant Accounting Policies of the Notes to Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the 2025 fiscal year filed with the SEC on March 28, 2025.

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 April 30,
	2025		2024
	(in thousands)
Taiwan	$	53,899	$	33,685
Asia Pacific other than Taiwan		16,559		12,750
Europe		8,739		4,199
North America other than United States		5,145		2,770
United States		1,530		1,069
Total revenue	$	85,872	$	54,473

Substantially all of the Company’s property and equipment were located in the United States, Taiwan, Europe and Asia Pacific region other than Taiwan. As of April 30, 2025, the net amount of these fixed assets located in these regions was approximately $5.1 million, $3.8 million, $1.1 million and $0.2 million, respectively. As of January 31, 2025, the net amount of these fixed assets located in these regions was approximately $3.7 million, $4.0 million, $1.1 million and $0.3 million, respectively.

Additional Segment Information

The following table presents the significant segment expenses included in the condensed consolidated net loss for the periods indicated:

	Three Months Ended April 30,
	2025			2024
	(in thousands)
Total revenue	$	85,872		$	54,473
Less cost and expense:
Product cost		32,628			19,949
Employee-related		31,459			28,383
Stock-based compensation		26,130			26,036
Semiconductor development cost		6,772			6,374
Tools & equipment		8,066			5,373
Professional services		3,687			4,374
Facilities-related		2,662			2,767
Other segment items (a)		956			1,469
Interest income		(2,160	)		(2,320	)
Net loss	$	(24,328	)	$	(37,932	)

(a) The other segment items include amortization of intangible assets acquired from business combinations, non-operating (income) expenses, income tax provision (benefit) and other immaterial items.

Major Customers

For the three months ended April 30, 2025, the customer representing 10% or more of revenue was WT, which accounted for approximately 63% of total revenue. For the three months ended April 30, 2024, the customers representing 10% or more of revenue were WT and Chicony, which accounted for approximately 62% and 13% of total revenue, respectively. Accounts receivable with WT was approximately $13.5 million and $12.3 million as of April 30, 2025 and January 31, 2025, respectively.