GCT Semiconductor Holding, Inc. Revenue Disclosure
4. Disaggregation of Revenue
All product revenue presented in the consolidated statements of operations is recognized at a point in time, and all service revenue is recognized over time. Net revenues are categorized by customer location as follows (in thousands):
|
|
Year Ended |
|
|||||
|
|
2025 |
|
|
2024 |
|
||
United States |
|
$ |
1,602 |
|
|
$ |
4,167 |
|
Taiwan |
|
|
629 |
|
|
|
195 |
|
China |
|
|
411 |
|
|
|
322 |
|
Germany |
|
|
142 |
|
|
|
944 |
|
South Korea |
|
|
82 |
|
|
|
3,500 |
|
Total |
|
$ |
2,866 |
|
|
$ |
9,128 |
|
Contract Assets and Liabilities
Net revenues recognized during the years ended December 31, 2025 and 2024 for the amounts included in the contract liabilities balance at the beginning of the respective annual periods were not material in each period. The balances related to contract fulfillment were immaterial as of December 31, 2025 and 2024.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 25, 2026 | Showing above |
| 2024 | Mar 25, 2025 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.