Quarterly report pursuant to Section 13 or 15(d)

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

v3.24.2
Concentration of Credit Risk, Significant Customers and Geographic Information (Tables)
 6 Months Ended
Jun. 30, 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 June 30, Six Months Ended June 30,
2024 2023 2024 2023
Percentage of total net revenue
Customer A * * 12  % *
Customer B * * * 11  %
Customer C 15  % * 10  % *
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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.
June 30, 2024 December 31, 2023
Percentage of gross accounts receivable
Customer D 24  % 33  %
Customer E 15  % 24  %
Customer F 18  % *
Significant Suppliers

Suppliers comprising greater than 10% or greater of total inventory purchases are as follows:
Three Months Ended June 30, Six Months Ended June 30,
2024 2023 2024 2023
Vendor A 17  % 11  % 12  % 19  %
Vendor B 37  % 29  % 40  % 26  %
Vendor C 10  % * 11  % *
Vendor D * 12  % * 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 June 30, Six Months Ended June 30,
2024 2023 2024 2023
Amount % of total net revenue Amount % of total net revenue Amount % of total net revenue Amount % of total net revenue
Asia $ 72,430  79  % $ 128,328  70  % $ 128,262  68  % $ 320,831  74  %
Europe 11,378  12  % 44,956  24  % 18,826  10  % 85,172  20  %
United States 7,157  9  % 8,906  5  % 37,631  20  % 21,090  5  %
Rest of world 1,025  1  % 1,748  1  % 2,540  1  % 5,287  1  %
Total $ 91,990  100  % $ 183,938  100  % $ 187,259  100  % $ 432,380  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 June 30, Six Months Ended June 30,
2024 2023 2024 2023
Percentage of total net revenue
Hong Kong 34  % 32  % 31  % 31  %
China * 12  % * 14  %
Germany * 10  % * *
Malaysia 12  % * * *
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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):
June 30, 2024 December 31, 2023
Amount % of total Amount % of total
United States $ 329,466  70  % $ 337,696  69  %
Singapore 109,759  23  % 113,248  23  %
Rest of world 31,454  7  % 38,969  8  %
Total $ 470,679  100  % $ 489,913  100  %