Note 3 - Revenue From Contracts With Customers

12 Months Ended

Dec. 28, 2024

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

Note 3 - Revenue from Contracts with Customers

Disaggregation of Revenue

The following tables provide information about revenue from contracts with customers disaggregated by channel and by geographical market, based on ship-to location of the customer:

	Year Ended
Revenue by Channel	December 28,				December 30,				December 31,
(In thousands)	2024				2023				2022
Distributors	$	455,160	89	%	$	644,181	87	%	$	591,229	89	%
Direct		54,241	11	%		92,973	13	%		69,127	11	%
Total revenue	$	509,401	100	%	$	737,154	100	%	$	660,356	100	%
Revenue by Geographical Market
(In thousands)
China	$	206,380	40	%	$	239,192	32	%		296,917	45	%
Japan		81,043	16	%		110,403	15	%		90,902	14	%
Other Asia		45,324	9	%		94,170	13	%		77,085	12	%
Asia		332,747	65	%		443,765	60	%		464,904	71	%
Americas		101,217	20	%		145,839	20	%		100,260	15	%
Europe		75,437	15	%		147,550	20	%		95,192	14	%
Total revenue	$	509,401	100	%	$	737,154	100	%	$	660,356	100	%

Contract Balances

Our contract assets relate to our rights to consideration for licenses and royalties due to us as a member of the HDMI Founders consortium. The balance results primarily from the amount of estimated revenue related to HDMI that we have recognized to date, but which has not yet been distributed to us by the HDMI licensing agent. Contract assets are recorded in Prepaid expenses and other current assets in our Consolidated Balance Sheets.

The following table summarizes activity during the periods presented:

(In thousands)
Contract assets as of December 31, 2022	$	7,347
Revenues recorded during the period		12,941
Transferred to Accounts receivable or collected		(9,094	)
Contract assets as of December 30, 2023	$	11,194
Revenues recorded during the period		14,408
Transferred to Accounts receivable or collected		(7,724	)
Contract assets as of December 28, 2024	$	17,878

Contract liabilities are included in Accrued liabilities on our Consolidated Balance Sheets. The following table summarizes activity during the periods presented:

(In thousands)
Contract liabilities as of December 31, 2022	$	17,666
Less: Product shipments from prepaid customer deposit		(12,946	)
Accruals for estimated future stock rotation and scrap returns		9,867
Less: Release of accruals for recognized stock rotation and scrap returns		(9,283	)
Contract liabilities as of December 30, 2023	$	5,304
Unperformed performance obligations		6,945
Accruals for estimated future stock rotation and scrap returns		13,051
Less: Release of accruals for recognized stock rotation and scrap returns		(14,118	)
Contract liabilities as of December 28, 2024	$	11,182