Note 10 - Segment and Geographic Information

3 Months Ended

Mar. 28, 2026

Notes to Financial Statements

Segment Reporting [Text Block]

10. Segment and Geographic Information

We applied the provisions of ASC 280, which sets forth a management approach to segment reporting and establishes requirements to report selected segment information quarterly and to report annually entity-wide disclosures about products, major customers and the geographies in which the entity holds material assets and reports revenue. An operating segment is defined as a component that engages in business activities whose operating results are reviewed by the CODM, which is our Chief Executive Officer, Luis A. Müller and for which discrete financial information is available. We have determined that our three identified operating segments are: TH, ST and IS. Our three operating segments qualify for aggregation under ASC 280 due to similarities in their customers, their economic characteristics, and the nature of products and services provided. As a result, we report in one segment, Semiconductor Test & Inspection, which derives revenue from the design and manufacture of equipment and components used in the testing of semiconductors.

The CODM assesses performance of the Semiconductor Test & Inspection segment and decides how to allocate resources based on loss before taxes. The table below summarizes selected financial information for our single reportable segment.

	Three Months Ended			Three Months Ended
	March 28,			March 29,
(in thousands)	2026			2025
Net sales	$	125,119		$	96,797
Cost and expenses:
Cost of sales		66,940			54,155
Research and development		25,419			21,933
Selling		14,708			13,124
General & administrative		14,859			12,201
Amortization of purchased intangible assets		7,300			9,852
Stock-based compensation		6,276			6,230
Other segment items (1)		(1,370	)		5,268
Loss before taxes	$	(9,013	)	$	(25,966	)

(1) Other segment items include restructuring charges as well as miscellaneous non-operating items.

For revenues by geography and information on customer concentration, see Note 1, “Summary of Significant Accounting Policies”.