Quarterly report [Sections 13 or 15(d)]

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

v3.25.2
Concentration of Credit Risk, Significant Customers and Geographic Information (Tables)
 6 Months Ended
Jun. 30, 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 June 30, Six Months Ended June 30,
2025 2024 2025 2024
Percentage of total net revenue
Customer A 16  % * 16  % *
Customer B 16  % * 14  % *
Customer C * 15  % * 10  %
Customer D * * * 12  %
____________________________
*    Represents less than 10% of the net revenue for the respective period.
The following table presents balances that are 10% or greater of accounts receivable, based on the Company’s billings to its customers.
June 30, 2025 December 31, 2024
Percentage of gross accounts receivable
Customer E 28  % 16  %
Customer F 21  % *
Customer G 18  % *
Customer H * 17  %
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*    Represents less than 10% of the accounts receivable for the respective period.

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,
2025 2024 2025 2024
Vendor A 29  % 37  % 32  % 40  %
Vendor B 23  % 17  % 21  % 12  %
Vendor C 14  % 10  % 14  % 11  %
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,
2025 2024 2025 2024
Amount % of total net revenue Amount % of total net revenue Amount % of total net revenue Amount % of total net revenue
Asia $ 87,118  79  % $ 72,430  79  % $ 162,379  79  % $ 128,262  68  %
Europe 16,101  15  % 11,378  12  % 31,055  15  % 18,826  10  %
United States 5,223  5  % 7,157  8  % 10,752  5  % 37,631  20  %
Rest of world 371  —  % 1,025  1  % 560  —  % 2,540  1  %
Total $ 108,813  100  % $ 91,990  100  % $ 204,746  100  % $ 187,259  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,
2025 2024 2025 2024
Percentage of total net revenue
Hong Kong 50  % 34  % 49  % 31  %
Malaysia * 12  % * *
Vietnam 10  % * 10  % *
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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, 2025 December 31, 2024
Amount % of total Amount % of total
United States $ 325,331  74  % $ 323,130  72  %
Singapore 93,021  21  % 102,112  23  %
Rest of world 22,248  5  % 25,838  6  %
Total $ 440,600  100  % $ 451,080  100  %