Note 13 - Information Concerning Product Lines, Geographic Information, Accounts Receivable and Revenue Concentration

12 Months Ended

Jan. 01, 2023

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

NOTE 13 — INFORMATION CONCERNING PRODUCT LINES, GEOGRAPHIC INFORMATION, ACCOUNTS RECEIVABLE AND REVENUE CONCENTRATION

The Company identifies its business segments based on business activities, management responsibility and geographic location. For all periods presented, the Company operated in a single reportable business segment.

The following is a breakdown of revenue by product family (in thousands):

	Fiscal Years
	2022		2021		2020
New products	$	11,675	$	7,761	$	2,782
Mature products		4,505		4,924		5,852
Total revenue	$	16,180	$	12,685	$	8,634

New products revenue consists of revenues from the sale of hardware products manufactured on 180 nanometer or smaller semiconductor processes, eFPGA IP license, professional services, QuickAI and SensiML AI software as a service (SaaS) revenues. Mature products include all products produced on semiconductor processes larger than 180 nanometer.

The following is a breakdown of new products revenue (in thousands):

	Fiscal Years
	2022		2021		2020
Hardware products	$	3,757	$	4,903	$	2,383
eFPGA IP		7,545		2,674		223
SaaS & Other		373		184		176
Total new products revenue	$	11,675	$	7,761	$	2,782

eFPGA IP revenue consists of primarily of eFPGA intellectual property license revenue and eFPGA-related professional services revenue. eFPGA-IP revenue related to professional services was approximately $7.4 million, $1.5 million, and $0.2 million in the Fiscal Years ended January 1, 2023,  January 2, 2022, and January 3, 2021, respectively.

Contract assets were approximately $2.0 million and $0.3 million at January 1, 2023 and January 2, 2022, respectively and were included under current assets on the Company's consolidated balance sheets. Contract liabilities of $0 and $0.3 million were included in deferred revenue on the Company's consolidated balance sheets at January 1, 2023 and January 2, 2022, respectively.

We derive revenue from sales to customers located in North America, Europe and Asia Pacific. North America includes revenue from the United States. Revenue from the United States was $10.6 million or 67% of total revenue, $6.9 million or 54% of total revenue, and $5.0 million or 58% of total revenue in the years ended January 1, 2023,  January 2, 2022, and January 3, 2021, respectively.

The following is a breakdown of revenue by shipping destination (in thousands):

	Fiscal Years
	2022		2021		2020
Asia Pacific	$	3,558	$	3,352	$	2,100
North America		10,912		6,885		5,033
Europe		1,710		2,448		1,501
Total revenue	$	16,180	$	12,685	$	8,634

The following distributors and customers accounted for 10% or more of the Company's revenue for the periods presented. Distributor amounts represent revenue from the Company's goods and services sold to a distributor. Customer amounts represent revenues from both distributor and from the Company to an end customer. As such, revenue to a distributor may also include information related to customers.

	Fiscal Years
	2022	2021	2020
Distributor "A"	15%	15%	24%
Distributor "B"	12%	22%	19%
Distributor "C"	*	11%	15%
Customer "A"	20%	*	*
Customer "B"	*	*	10%
Customer "C"	16%	16%	*
Customer "F"	12%	14%	*
Customer "H"	*	10%	*
Customer "J"	*	*	16%

* Represents less than 10% of revenue as of the date presented.

The following distributors and customers accounted for 10% or more of the Company's accounts receivable as of the dates presented:

	January 1,			January 2,
	2023			2022
Distributor "A"		14	%		42	%
Distributor "B"		*			22	%
Distributor "C"		*			17	%
Customer "C"		22	%		*
Customer "F"		44	%		10	%
			%			%
			%			%

* Represents less than 10% of trade accounts receivable, net, as of the date presented.

Approximately 1% and 3% of the Company’s long-lived assets, including property and equipment and other assets, were located outside the United States as of January 1, 2023 and January 2, 2022, respectively.