Annual report [Section 13 and 15(d), not S-K Item 405]

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

v3.25.4
Concentration of Credit Risk, Significant Customers and Geographic Information (Tables)
 12 Months Ended
Dec. 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:
Year Ended December 31,
2025 2024 2023
Percentage of total net revenue
Customer A 16  % 12  % 10  %
Customer B 12  % * *
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*    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.
December 31,
2025 2024
Percentage of gross accounts receivable
Customer C 26  % 17  %
Customer D 14  % *
Customer E 10  % *
Customer F 10  % *
Customer G * 16  %
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*    Represents less than 10% of the gross accounts receivable for the respective period.
Significant Suppliers
Suppliers comprising greater than 10% or greater of total inventory purchases are as follows:
Year Ended December 31,
2025 2024 2023
Vendor A 32  % 36  % 23  %
Vendor B 25  % 17  % 23  %
Vendor C 13  % 11  % 10  %
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,
2025 2024 2023
Amount % of total net revenue Amount % of total net revenue Amount % of total net revenue
Asia $ 384,684  82  % $ 269,079  75  % $ 521,433  75  %
Europe 62,105  13  % 39,470  11  % 124,556  18  %
United States 18,966  4  % 46,941  13  % 36,955  5  %
Rest of world 1,886  —  % 5,038  1  % 10,319  2  %
Total $ 467,641  100  % $ 360,528  100  % $ 693,263  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,
2025 2024 2023
Percentage of total net revenue
Hong Kong 49  % 41  % 37  %
Vietnam 12  % * *
China * * 11  %
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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,
2025 2024
Amount % of total Amount % of total
United States $ 319,478  74  % $ 323,130  72  %
Singapore 92,519  21  % 102,112  23  %
Rest of world 19,862  5  % 25,838  6  %
Total $ 431,859  100  % $ 451,080  100  %