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Segment, Geographic and Customer Information
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment, Geographic and Customer Information Segment, Geographic and Customer Information
The Company operates in one reportable segment related to the design, development, and sale of Precision Timing solutions to the global electronics industry.
The accounting policies of the Company’s single segment and key performance measures used by the Chief Executive Officer, who is the Chief Operating Decision Maker, to assess the performance of the Company are the same as those
described within Note 1 and Note 11 of the Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on February 14, 2025.
The table below provides information about the Company’s revenue, significant segment expenses and other segment expenses.
Three Months Ended
June 30,		Six Months Ended
June 30,
2025202420252024
(in thousands)(in thousands)
Revenue$69,494 $43,866 $129,808 $76,888 
Less:
Product costs20,074 13,567 38,339 23,384 
Depreciation3,838 1,896 7,038 3,709 
Amortization3,579 3,563 7,158 4,947 
Other manufacturing overheads5,951 3,317 10,886 5,665 
Gross profit36,052 21,523 66,387 39,183 
Less:
Acquisition related costs1,872 3,163 3,433 6,405 
Interest income(4,263)(5,736)(8,557)(12,296)
Other segment items (a)
58,622 50,865 115,567 100,547 
Net income$(20,179)$(26,769)$(44,056)$(55,473)
(a)Other segment items include research and development expenses and selling, general and administrative expenses, primarily in the nature of nonmanufacturing expenses including salaries and stock-based compensation for employees, consulting expenses, certain other expenses, and taxes.
Revenue by geographic area is presented based upon the ship-to location of the customers who purchased the Company’s products, which may be different from the geographic locations of the ultimate end customers. The following table sets forth revenue by country for countries with 10% or more of the Company’s revenue during any of the periods presented:
Three Months Ended
June 30,		Six Months Ended
June 30,
2025202420252024
(in thousands)
Hong Kong$23,560 $15,082 $47,395 $25,536 
Taiwan20,538 12,052 33,255 21,611 
United States4,767 4,129 8,951 7,623 
Singapore3,010 4,259 7,075 6,468 
Other17,619 8,344 33,132 15,650 
Total$69,494 $43,866 $129,808 $76,888 
The following table sets forth the Company’s total property and equipment attributable to operations by country as of the periods presented:
As of
June 30, 2025December 31, 2024
(in thousands)
United States$29,737 $32,200 
Taiwan28,168 24,294 
Malaysia21,697 16,231 
Singapore13,038 2,419 
Other7,221 7,331 
$99,861 $82,475