Note 3 - Revenue from Contracts with Customers

9 Months Ended

Sep. 27, 2025

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 our customers:

	Three Months Ended								Nine Months Ended
Revenue by Channel	September 27,				September 28,				September 27,				September 28,
(In thousands)	2025				2024				2025				2024
Distributors	$	110,992	83	%	$	120,266	95	%	$	309,339	82	%	$	356,001	91	%
Direct		22,357	17	%		6,825	5	%		68,131	18	%		35,981	9	%
Total revenue	$	133,349	100	%	$	127,091	100	%	$	377,470	100	%	$	391,982	100	%
Revenue by Geographical Market
(In thousands)
China	$	64,805	49	%	$	49,671	39	%	$	185,636	49	%	$	154,702	39	%
Japan		7,301	5	%		16,633	13	%		24,279	6	%		64,782	17	%
Other Asia		14,605	11	%		13,508	11	%		37,511	10	%		35,375	9	%
Asia		86,711	65	%		79,812	63	%		247,426	65	%		254,859	65	%
Americas		24,871	19	%		19,156	15	%		81,751	22	%		74,745	19	%
Europe		21,767	16	%		28,123	22	%		48,293	13	%		62,378	16	%
Total revenue	$	133,349	100	%	$	127,091	100	%	$	377,470	100	%	$	391,982	100	%

Contract Balances

Our contract assets relate primarily 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 included in Prepaid expenses and other current assets on our Consolidated Balance Sheets. The following table summarizes activity during the first nine months of fiscal 2025:

(In thousands)
Contract assets as of December 28, 2024	$	17,878
Revenues recorded during the period		20,138
Transferred to Accounts receivable or collected		(30,640	)
Contract assets as of September 27, 2025	$	7,376

Contract liabilities are included in Accrued liabilities on our Consolidated Balance Sheets. The following table summarizes activity during the first nine months of fiscal 2025:

(In thousands)
Contract liabilities as of December 28, 2024	$	11,182
Revenue recognized from satisfied performance obligations		(6,469	)
Unperformed performance obligations		1,129
Accruals for estimated future stock rotation and scrap returns		4,853
Less: Release of accruals for recognized stock rotation and scrap returns		(4,688	)
Contract liabilities as of September 27, 2025	$	6,007