Annual report pursuant to Section 13 and 15(d)

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

v3.24.4
Concentration of Credit Risk, Significant Customers and Geographic Information (Tables)
 12 Months Ended
Dec. 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:
Year Ended December 31,
2024 2023 2022
Percentage of total net revenue
Customer A 12  % 10  % 10  %
Customer B * * 21  %
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*    Represents less than 10% of the net revenues 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.
December 31,
2024 2023
Percentage of gross accounts receivable
Customer C 16  % *
Customer D * 33  %
Customer E 17  % 24  %
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*    Represents less than 10% of the gross accounts receivable as of the respective period end.
Significant Suppliers
Suppliers comprising greater than 10% or greater of total inventory purchases are as follows:
Year Ended December 31,
2024 2023 2022
Vendor A 36  % 23  % 26  %
Vendor B 17  % 23  % 25  %
Vendor C 11  % 10  % 12  %
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):
Year Ended December 31,
2024 2023 2022
Amount % of total net revenue Amount % of total net revenue Amount % of total net revenue
Asia $ 269,079  75  % $ 521,433  75  % $ 915,024  82  %
Europe 39,470  11  % 124,556  18  % 142,494  13  %
United States 46,941  13  % 36,955  5  % 40,077  4  %
Rest of world 5,038  1  % 10,319  2  % 22,657  2  %
Total $ 360,528  100  % $ 693,263  100  % $ 1,120,252  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:
Year Ended December 31,
2024 2023 2022
Percentage of total net revenue
Hong Kong 41  % 37  % 43  %
China * 11  % 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):
December 31,
2024 2023
Amount % of total Amount % of total
United States $ 323,130  72  % $ 337,696  69  %
Singapore 102,112  23  % 113,248  23  %
Rest of world 25,838  6  % 38,969  8  %
Total $ 451,080  100  % $ 489,913  100  %