Segments and Major Customers (Tables)

3 Months Ended

Mar. 31, 2026

Segment Reporting Information [Line Items]

Schedule of Segment Reporting Information, By Segment

The significant expenses that are regularly provided to the CODM and reconciliations to the consolidated net income for the three months ended March 31, 2026 and 2025, respectively, were as follows:


	Three Months Ended March 31,
(In thousands)	2026			2025
Total revenue	$	180,189		$	166,664
Adjusted cost of revenue (1)		(34,718	)		(30,967	)
Adjusted research and development (2)		(44,975	)		(38,089	)
Adjusted sales, general and administrative (3)		(24,880	)		(21,347	)
Other segment items:
Stock-based compensation expenses (4)		(11,453	)		(11,383	)
Amortization of acquired intangible assets (4)		(1,675	)		(1,713	)
Acquisition-related costs (5)		—			(21	)
Interest and other income (expense), net		6,872			4,479
Other (6)		(730	)		—
Provision for income taxes		(8,772	)		(7,320	)
Net income	$	59,858		$	60,303

(1)

Excludes stock-based compensation expenses and amortization of acquisition-related intangible assets.

(2)

Excludes stock-based compensation expenses and retention bonus expense related to acquisitions.

(3)

Excludes stock-based compensation expenses, retention bonus expense related to acquisitions and certain other adjustments.

(4)

The Company excludes these expenses from its adjusted cost of revenue and operating expenses primarily because such expenses are non-cash expenses that the Company does not believe are reflective of ongoing operating results.

(5)

The Company excludes these expenses in order to provide better comparability between periods as they are related to acquisitions and have no direct correlation to the Company’s ongoing operating results.

(6)

Includes expenses on abandoned operating leases, facility restoration costs and certain other one-time adjustments. The Company excludes these items as they are not reflective of ongoing results.

The following represents the Company’s significant expenses related to research and development expenses and sales, general and administrative expenses, as shown above, for the three months ended March 31, 2026 and 2025.


	Three Months Ended March 31,
(In thousands)	2026		2025
Payroll and benefits	$	43,849	$	37,929
Professional fees		7,119		5,489
Variable research and development expenses (1)		6,902		4,809
Temporary labor services and consulting expenses		3,087		2,843
Amortization and depreciation		3,074		2,781
Facilities costs		3,012		3,084
Other expenses		2,812		2,501
Total adjusted operating expenses	$	69,855	$	59,436

(1)

Includes primarily software tools, software licenses and prototyping costs.

Schedule of Revenue From External Customer by Geographic Regions

Revenue from customers in the geographic regions based on the location of contracting parties was as follows:


	Three Months Ended March 31,
(In thousands)	2026		2025
South Korea	$	86,505	$	68,025
Singapore		28,294		51,676
United States		22,143		26,390
Other		43,247		20,573
Total	$	180,189	$	166,664

Accounts receivable

Segment Reporting Information [Line Items]

Schedule of Customer Accounts Representing 10% or More Than 10% of Total Balance

Accounts receivable from the Company’s major customers representing 10% or more of total accounts receivable as of March 31, 2026 and December 31, 2025 were as follows:


	As of
Customer	March 31, 2026			December 31, 2025
Customer 1		49	%		35	%
Customer 2		24	%		22	%

Revenue

Segment Reporting Information [Line Items]

Schedule of Customer Accounts Representing 10% or More Than 10% of Total Balance

Revenue from the Company’s major customers representing 10% or more of total revenue for the three months ended March 31, 2026 and 2025 were as follows:


	Three Months Ended March 31,
Customer	2026			2025
Customer A		29	%		23	%
Customer B		15	%		20	%
Customer C		10	%	*
Customer D	*				11	%

* Customer accounted for less than 10% of total revenue in the period.