Quarterly report pursuant to Section 13 or 15(d)

Concentration of Credit Risk, Significant Customers and Geographic Information (Tables)

v3.24.1.u1
Concentration of Credit Risk, Significant Customers and Geographic Information (Tables)
 3 Months Ended
Mar. 31, 2024
Risks and Uncertainties [Abstract]  
Summary of Concentration of Risk, by Risk Factor
Customers comprising 10% or greater of net revenues for each of the periods presented are as follows:
Three Months Ended March 31,
2024 2023
Percentage of total net revenue
Customer A 23  % *
Customer B 13  % 15  %
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*    Represents less than 10% of the net revenue for the period presented.
The following table presents balances that are 10% or greater of accounts receivable, based on the Company’s billings to its customers.
March 31, 2024 December 31, 2023
Percentage of gross accounts receivable
Customer C 32  % 33  %
Customer D 38  % 24  %

Significant Suppliers

Suppliers comprising greater than 10% or greater of total inventory purchases are as follows:
Three Months Ended March 31,
2024 2023
Vendor A * 23  %
Vendor B 45  % 25  %
Vendor C 11  % *
Vendor D * 11  %
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*    Represents less than 10% of total inventory purchases for the period presented.
Summary of Revenue from External Customers by Geographic Areas
The Company’s consolidated net revenues by geographic area based on ship-to location are as follows (in thousands):
Three Months Ended March 31,
2024 2023
Amount % of total net revenue Amount % of total net revenue
Asia $ 55,832  59  % $ 192,502  77  %
Europe 7,448  8  % 40,216  16  %
United States 30,474  32  % 12,184  5  %
Rest of world 1,515  2  % 3,539  1  %
Total $ 95,269  100  % $ 248,441  100  %
The products shipped to individual countries or territories representing greater than 10% of net revenue for each of the periods presented are as follows:
Three Months Ended March 31,
2024 2023
Percentage of total net revenue
Hong Kong 28  % 31  %
China * 16  %
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*    Represents less than 10% of total net revenue for the respective period.
Summary of Long-lived Assets by Geographic Areas
Long-lived assets, which consists of property and equipment, net, leased right-of-use assets, intangible assets, net, and goodwill by geographic area are as follows (in thousands):
March 31, 2024 December 31, 2023
Amount % of total Amount % of total
United States $ 331,552  69  % $ 337,696  69  %
Singapore 114,115  24  % 113,248  23  %
Rest of world 33,666  7  % 38,969  8  %
Total $ 479,333  100  % $ 489,913  100  %