Segment Reporting

9 Months Ended

Oct. 03, 2026

Disclosure Text Block [Abstract]

Segment Reporting

Note 9 - Segment Reporting

As of October 3, 2026, we have determined that the Company now operates in two operating and reportable segments: the FPGA business (which includes silicon-based and silicon-enabling products, evaluation boards, development hardware, and related intellectual property licensing, services, and sales), and the acquired AMI business (which includes products and services for the Boot Firmware and Manageability & Security groups). Our segments are strategic business units that offer distinct products and services that are managed accordingly. At this time, there are no internal revenue transactions between our reportable segments. The accounting policies of the segments are consistent with those described in our significant accounting policies and practices.

The Company’s Chief Operating Decision Maker (“CODM”) is its Chief Executive Officer. Each segment has separate financial information that is utilized on a regular basis by the CODM in determining how to allocate resources and evaluate performance. Our CODM assesses the performance of each segment and allocates resources to each segment based on operating profit results and financial information of the two reportable segments and does not evaluate each segment using discrete asset information. Operating results by segment include items that are directly attributable to each segment and also include shared expenses such as marketing, general and administrative activities, facilities, and information technology expenses. Shared expenses are primarily allocated based on percentage of operating expenses or headcount.

We report the results of our remaining business activities in Unallocated, which includes certain expense items that are not used in evaluating the results of or in allocating resources to our segments. Unallocated does not include any revenue amounts. Specifically, the items in Unallocated include stock-based compensation expense, amortization of acquired intangible assets, acquisition related costs, and restructuring.

The following tables set forth the Company’s revenue, significant expenses, and operating income by its two operating and reportable segments for the periods indicated:

	Three Months Ended						Nine Months Ended
(In thousands)	October 3, 2026			September 27, 2025			October 3, 2026			September 27, 2025
Revenue:
FPGA	$	251,934		$	133,349		$	623,910		$	377,470
AMI		39,101			—			39,101			—
Total Revenue	$	291,035		$	133,349		$	663,011		$	377,470
Cost of Revenue:
FPGA	$	73,530		$	40,842		$	181,836		$	116,236
AMI		11,562			—			11,562			—
Unallocated (1)		9,823			1,980			14,529			4,228
Total Cost of Revenue	$	94,915		$	42,822		$	207,927		$	120,464
Operating Expenses:
FPGA	$	77,036		$	57,037		$	208,080		$	167,442
AMI		15,380			—			15,380			—
Unallocated (2)		79,736			35,024			159,235			79,418
Total Operating Expenses	$	172,152		$	92,061		$	382,695		$	246,860
Operating Income (Loss):
FPGA	$	101,368		$	35,470		$	233,994		$	93,792
AMI		12,159			—			12,159			—
Unallocated (1)(2)		(89,559	)		(37,004	)		(173,764	)		(83,646	)
Total Operating Income (Loss)	$	23,968		$	(1,534	)	$	72,389		$	10,146

(1) Unallocated includes stock compensation & related tax expense and acquired intangible assets amortization.

(2) Unallocated includes stock compensation & related tax expense, acquired intangible assets amortization, and acquisition-related and restructuring expense.