REVENUE

12 Months Ended

Dec. 31, 2024

REVENUE

REVENUE

NOTE 3.           REVENUE

Disaggregation of Revenue

The following tables present additional information regarding our revenue:

Revenue by Market

	Years Ended December 31,
	2024		2023		2022
	(in thousands)
Semiconductor Equipment	$	792,559	$	743,794	$	930,809
Industrial and Medical		316,177		474,449		426,763
Data Center Computing		284,192		249,874		327,466
Telecom and Networking		89,114		187,693		160,384
Total	$	1,482,042	$	1,655,810	$	1,845,422

Revenue by Region

	Years Ended December 31,
	2024				2023				2022
	(in thousands)
North America	$	669,946	45.1	%	$	724,481	43.8	%	$	857,490	46.5	%
Asia		661,854	44.7			713,571	43.1			754,997	40.9
Europe		147,560	10.0			212,368	12.8			219,119	11.9
Other		2,682	0.2			5,390	0.3			13,816	0.7
Total	$	1,482,042	100.0	%	$	1,655,810	100.0	%	$	1,845,422	100.0	%

Revenue by Significant Countries

	Years Ended December 31,
	2024				2023				2022
	(in thousands)
United States	$	508,713	34.3	%	$	598,359	36.1	%	$	723,564	39.2	%
Mexico		160,063	10.8			123,466	7.5			132,313	7.2
Taiwan		159,587	10.8			124,216	7.5			112,252	6.1
China		109,883	7.4			165,940	10.0			180,355	9.8
All others		543,796	36.7			643,829	38.9			696,938	37.7
Total	$	1,482,042	100.0	%	$	1,655,810	100.0	%	$	1,845,422	100.0	%

We attribute revenue to individual countries and regions based on the customer’s ship to location. Aside from the specific countries listed above, no individual country exceeded 10% of our total consolidated revenues during the periods presented.

Revenue by Category

	Years Ended December 31,
	2024		2023		2022
	(in thousands)
Product	$	1,315,723	$	1,484,007	$	1,686,053
Services and other		166,319		171,803		159,369
Total	$	1,482,042	$	1,655,810	$	1,845,422

Other revenue includes certain spare parts and products sold by our service group.

Significant Customers

During the year ended December 31, 2024, Applied Materials, Inc. and Lam Research Corporation accounted for 26% and 11%, respectively, of our total revenue. During the year ended December 31, 2023, Applied Materials, Inc. accounted for 22% of our total revenue. During the year ended December 31, 2022, Applied Materials Inc. and Lam Research Corporation accounted for 20% and 14%, respectively, of our total revenue.

As of December 31, 2024, the account receivable balance from Applied Materials, Inc. and Lam Research Corporation accounted for 25% and 14%, respectively, of our total accounts receivable. During the year ended December 31, 2023, Applied Materials, Inc. accounted for 26% of our total accounts receivable. No other customer’s account receivable exceeded 10% of our total accounts receivable in the periods presented.