Note 3 - Revenue From Contracts With Customers

3 Months Ended

Apr. 04, 2026

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. Revenue is attributed to geographic regions based on the ship-to location of the customer. The Greater China geography includes revenue associated with shipments to both Hong Kong and mainland China. Products shipped to Hong Kong may subsequently be transferred to mainland China or other destinations, and products shipped to mainland China may similarly move through intermediary locations.

	Three Months Ended
Revenue by Channel	April 4,				March 29,
(In thousands)	2026				2025
Distributors	$	161,405	94	%	$	94,337	79	%
Direct		9,492	6	%		25,813	21	%
Total revenue	$	170,897	100	%	$	120,150	100	%
Revenue by Geographical Market
(In thousands)
Greater China	$	108,871	64	%	$	57,135	48	%
Malaysia		17,299	10	%		4,793	4	%
Japan		2,349	1	%		12,954	11	%
Other Asia		4,058	3	%		2,859	2	%
Asia		132,577	78	%		77,741	65	%
Americas		18,792	11	%		29,997	25	%
Europe		19,528	11	%		12,412	10	%
Total revenue	$	170,897	100	%	$	120,150	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 three months of fiscal 2026:

(In thousands)
Contract assets as of January 3, 2026	$	7,669
Revenues recorded during the period		3,455
Transferred to Accounts receivable or collected		(4,819	)
Contract assets as of April 4, 2026	$	6,305

Contract liabilities are included in Accrued liabilities on our Consolidated Balance Sheets. The following table summarizes activity during the first three months of fiscal 2026:

(In thousands)
Contract liabilities as of January 3, 2026	$	4,006
Accruals for estimated future stock rotation and scrap returns		1,443
Less: Release of accruals for recognized stock rotation and scrap returns		(1,008	)
Contract liabilities as of April 4, 2026	$	4,441