Quarterly report pursuant to Section 13 or 15(d)

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

v3.23.3
Concentration of Credit Risk, Significant Customers and Geographic Information (Tables)
 9 Months Ended
Sep. 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 September 30, Nine Months Ended September 30,
2023 2022 2023 2022
Percentage of total net revenue
Customer A * 31  % * 22  %
Customer B 11  % * 11  % *
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*    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.
September 30, December 31,
2023 2022
Percentage of gross accounts receivable
Customer C * 11  %
Customer D 26  % 12  %
Customer E 13  % 28  %
Customer F 17  % *
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*    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 September 30, Nine Months Ended September 30,
2023 2022 2023 2022
Vendor A 28  % 24  % 21  % 27  %
Vendor B 17  % 26  % 24  % 25  %
Vendor C 14  % 13  % 10  % 13  %
Vendor D * * 10  % *
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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 September 30, Nine Months Ended September 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 $ 98,647  73  % $ 235,032  82  % $ 419,478  74  % $ 674,352  81  %
Europe 24,886  18  % 36,818  13  % 110,058  19  % 113,792  14  %
United States 8,757  7  % 10,991  4  % 29,847  5  % 29,543  4  %
Rest of world 3,240  2  % 2,889  1  % 8,527  2  % 11,979  1  %
Total $ 135,530  100  % $ 285,730  100  % $ 567,910  100  % $ 829,666  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 September 30, Nine Months Ended September 30,
2023 2022 2023 2022
Percentage of total net revenue
Hong Kong 41  % 51  % 34  % 43  %
China * 14  % 12  % 16  %
Taiwan, ROC 10  % * * *
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*    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):
September 30, December 31,
2023 2022
Amount % of total Amount % of total
United States $ 365,607  73  % $ 368,882  70  %
Singapore 97,926  19  % 109,613  21  %
Rest of world 39,697  8  % 45,093  9  %
Total $ 503,230  100  % $ 523,588  100  %