Quarterly report [Sections 13 or 15(d)]

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

v3.25.1
Concentration of Credit Risk, Significant Customers and Geographic Information (Tables)
 3 Months Ended
Mar. 31, 2025
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,
2025 2024
Percentage of total net revenue
Customer A * 23  %
Customer B 17  % 13  %
Customer C 11  % *
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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.
March 31, 2025 December 31, 2024
Percentage of gross accounts receivable
Customer D 21  % 16  %
Customer E 18  % 17  %

Significant Suppliers

Suppliers comprising greater than 10% or greater of total inventory purchases are as follows:
Three Months Ended March 31,
2025 2024
Vendor A 20  % *
Vendor B 36  % 45  %
Vendor C 13  % 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,
2025 2024
Amount % of total net revenue Amount % of total net revenue
Asia $ 75,261  78  % $ 55,832  59  %
Europe 14,954  16  % 7,448  8  %
United States 5,529  6  % 30,474  32  %
Rest of world 189  —  % 1,515  2  %
Total $ 95,933  100  % $ 95,269  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,
2025 2024
Percentage of total net revenue
Hong Kong 49  % 28  %
Vietnam 11  % *
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, 2025 December 31, 2024
Amount % of total Amount % of total
United States $ 321,780  73  % $ 323,130  72  %
Singapore 98,792  22  % 102,112  23  %
Rest of world 23,088  5  % 25,838  6  %
Total $ 443,660  100  % $ 451,080  100  %