Quarterly report pursuant to Section 13 or 15(d)

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

v3.23.2
Concentration of Credit Risk, Significant Customers and Geographic Information (Tables)
 6 Months Ended
Jun. 30, 2023
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,
2023 2022 2023 2022
Percentage of total net revenue
Customer A * 18  % * 17  %
Customer B * 11  % 11  % 11  %
____________________________
*    Represents less than 10% of 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.
June 30, December 31,
2023 2022
Percentage of gross accounts receivable
Customer C * 11  %
Customer D 16  % 12  %
Customer E * 28  %
Customer F 15  % *
Customer G 11  % *
____________________________
*    Represents less than 10% of the gross accounts receivable as of the respective period end.
Significant Suppliers
Suppliers comprising 10% or greater of total inventory purchases are as follows:
Three Months Ended June 30, Six Months Ended June 30,
2023 2022 2023 2022
Vendor A 11  % 30  % 19  % 29  %
Vendor B 29  % 23  % 26  % 25  %
Vendor C * 13  % * 12  %
Vendor D 12  % * 11  % *
____________________________
*    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 June 30, Six Months Ended June 30,
2023 2022 2023 2022
Amount % of total net revenue Amount % of total net revenue Amount % of total net revenue Amount % of total net revenue
Asia $ 128,328  70  % $ 227,655  81  % $ 320,831  74  % $ 439,320  81  %
Europe 44,956  24  % 38,193  14  % 85,172  20  % 76,974  14  %
United States 8,906  5  % 9,684  3  % 21,090  5  % 18,552  3  %
Rest of world 1,748  1  % 4,477  2  % 5,287  1  % 9,090  2  %
Total $ 183,938  100  % $ 280,009  100  % $ 432,380  100  % $ 543,936  100  %
The products shipped to individual countries or territories representing 10% or greater of net revenue for each of the periods presented are as follows:
Three Months Ended June 30, Six Months Ended June 30,
2023 2022 2023 2022
Percentage of total net revenue
Hong Kong 32  % 40  % 31  % 39  %
China 12  % 22  % 14  % 17  %
Germany 10  % * * *
____________________________
*    Represents less than 10% of net revenues for the period presented.
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, December 31,
2023 2022
Amount % of total Amount % of total
United States $ 373,872  72  % $ 368,882  70  %
Singapore 101,477  20  % 109,613  21  %
Rest of world 43,267  8  % 45,093  9  %
Total $ 518,616  100  % $ 523,588  100  %