Quarterly report [Sections 13 or 15(d)]

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

v3.26.1
Concentration of Credit Risk, Significant Customers and Geographic Information (Tables)
 3 Months Ended
Mar. 31, 2026
Risks and Uncertainties [Abstract]  
Schedule 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,
2026 2025
Percentage of total net revenue
Customer A 13  % 17  %
Customer B * 11  %
____________________________
*    Represents less than 10% of the net revenue for the respective period.
The following table presents balances that are 10% or greater of gross accounts receivable, based on the Company’s billings to its customers.
March 31, 2026 December 31, 2025
Percentage of gross accounts receivable
Customer C 10  % 26  %
Customer D * 14  %
Customer E * 10  %
Customer F * 10  %
Customer G
 26  % *
____________________________
*    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:
Three Months Ended March 31,
2026 2025
Vendor A 50  % 36  %
Vendor B 17  % 20  %
Vendor C * 13  %
____________________________
*    Represents less than 10% of the total inventory purchases for the respective period.
Schedule 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,
2026 2025
Amount % of total net revenue Amount % of total net revenue
Asia $ 105,385  77  % $ 75,261  78  %
Europe 16,289  12  % 14,954  16  %
United States 13,991  10  % 5,529  6  %
Rest of world 1,523  1  % 189  —  %
Total $ 137,188  100  % $ 95,933  100  %
The products shipped to individual countries or territories representing greater than 10% of total net revenue for each of the periods presented are as follows:
Three Months Ended March 31,
2026 2025
Percentage of total net revenue
Hong Kong 48  % 49  %
Mainland China
 10  % *
Vietnam * 11  %
____________________________
*    Represents less than 10% of total net revenue for the respective period.
Schedule 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, 2026 December 31, 2025
Amount % of total Amount % of total
United States $ 322,902  75  % $ 319,478  74  %
Singapore 87,730  20  % 92,519  21  %
Rest of world 20,668  5  % 19,862  5  %
Total $ 431,300  100  % $ 431,859  100  %