Disaggregation of Sales, Geographic Sales and Product Sales

9 Months Ended

Sep. 27, 2024

Segment Reporting [Abstract]

Disaggregation of Sales, Geographic Sales and Product Sales

Note 13 — Disaggregation of Sales, Geographic Sales and Product Sales

In the following tables, sales are disaggregated by category, sales by geographic market and sales by product data. The following breaks down sales into the following categories (in thousands):

	Three Months Ended				Nine Months Ended
	September 27, 2024		September 29, 2023		September 27, 2024		September 29, 2023
Non-consignment sales	$	83,703	$	75,296	$	250,242	$	230,527
Consignment sales		4,887		5,012		14,709		15,615
Total net sales	$	88,590	$	80,308	$	264,951	$	246,142

The Company markets and sells its products in over 75 countries and conducts its manufacturing in the United States. Other than China and Japan, the Company does not conduct business in any country in which its sales exceed 10% of worldwide consolidated net sales. Sales are attributed to countries based on location of customers. The composition of the Company’s net sales to unaffiliated customers was as follows (in thousands):

	Three Months Ended				Nine Months Ended
	September 27, 2024		September 29, 2023		September 27, 2024		September 29, 2023
Domestic	$	4,681	$	4,164	$	15,015	$	13,061
Foreign:
China		51,830		48,287		153,774		144,716
Japan		10,534		9,175		30,875		28,526
Other(1)		21,545		18,682		65,287		59,839
Total foreign sales		83,909		76,144		249,936		233,081
Total net sales	$	88,590	$	80,308	$	264,951	$	246,142

(1)No other location individually exceeds 10% of the total sales.

100% of the Company’s sales are generated from the ophthalmic surgical product segment and the chief operating decision maker makes operating decisions and allocates resources based upon the consolidated operating results, and therefore the Company operates as one operating segment for financial reporting purposes. The Company’s principal products are implantable Collamer lenses (“ICLs”) used in refractive surgery. Historically the Company marketed and sold cataract intraocular lenses (“IOLs”) and related injectors and injector parts. The Company phased out sales of such products in fiscal 2023, and does not expect to sell any such products in fiscal 2024 or thereafter. The composition of the Company’s net sales by product line was as follows (in thousands):

	Three Months Ended						Nine Months Ended
	September 27, 2024			September 29, 2023			September 27, 2024			September 29, 2023
ICLs	$	89,101		$	81,069		$	265,617		$	244,806
Other product sales:
Cataract IOLs		—			(221	)		—			1,295
Other surgical products(1)		(511	)		(540	)		(666	)		41
Total other product sales		(511	)		(761	)		(666	)		1,336
Total net sales	$	88,590		$	80,308		$	264,951		$	246,142

(1) Other surgical products include delivery systems and normal recurring sales adjustments such as sales return allowances.

The Company’s China distributors accounted for 59% and 60% of net sales for the three months ended September 27, 2024 and September 29, 2023, respectively and accounted for 58% and 59% of net sales for the nine months ended September 27, 2024 and September 29, 2023, respectively. As of September 27, 2024 and December 29, 2023, the Company’s China distributors accounted for 69% and 70%, respectively, of consolidated trade receivables.