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Enterprise-Wide Segment Information and Net Sales
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Enterprise-Wide Segment Information and Net Sales

NOTE 7 – Enterprise-Wide Segment Information and Net Sales

Segment Reporting. For financial reporting purposes, we operate in a single segment, standard semiconductor products, through our various manufacturing and distribution facilities. One segment reflects how our chief operating decision maker, which is our chief executive officer, allocates resources and measures results. We aggregate our products because the products are similar and have similar economic characteristics, use similar production processes and share similar customer type. Our primary operations include operations in Asia, the Americas, and Europe.

During the three months ended September 30, 2025, two customers accounted for approximately $51.9 million and $44.6 million, or 13.2% and 11.4%, respectively, of our net sales. During the nine months ended September 30, 2025, two customers accounted for approximately $134.7 million and $124.1 million, or 12.4% and 11.4%, respectively, or our net sales. As of September 30, 2025, one customer accounted for approximately $50.4 million, or 16.6%, of the Company’s outstanding accounts receivable.

During the three months ended September 30, 2024, one customer accounted for approximately $44.3 million or 12.6% of our net sales. During the nine months ended September 30, 2024, one customer accounted for approximately $64.8 million or 16.0% of our net sales. As of September 30, 2024, one customer accounted for approximately 17.7% and one customer accounted for approximately 14.1% of our outstanding accounts receivable. All customers that accounted for 10% or more of our net sales during any period presented in this Quarterly Report on Form 10-Q are broad-based global distributors that sell to thousands of different end users.

Disaggregation of Net Sales. We disaggregate net sales with customers into direct sales to end customers and distribution sales to distributors (“Distributors”) and by geographic area. Direct sales customers consist of those customers using our product in their manufacturing process, and Distributors are those customers who resell our products to third parties. We deliver our products to customers around the world for use in the industrial, automotive, computing, consumer, and communications markets. Further, most of our contracts are fixed-price arrangements, and are short term in nature, ranging from days to several months. The tables below set forth net sales based on the location of the subsidiary producing the net sale:

For the Three Months Ended
September 30, 2025

 

Asia

 

Americas

 

Europe

 

Consolidated

 

Total sales

 

$

442,991

 

$

298,683

 

 

$

63,003

 

 

$

804,677

 

Intercompany elimination

 

 

(202,191

)

 

(171,276

)

 

 

(39,040

)

 

 

(412,507

)

Net sales

 

$

240,800

 

 

$

127,407

 

 

$

23,963

 

 

$

392,170

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Three Months Ended September 30, 2024

 

Asia

 

Americas

 

Europe

 

Consolidated

 

Total sales

 

$

380,013

 

$

255,058

 

 

$

68,771

 

 

$

703,842

 

Intercompany elimination

 

 

(161,213

)

 

(155,017

)

 

 

(37,533

)

 

 

(353,763

)

Net sales

 

$

218,800

 

 

$

100,041

 

 

$

31,238

 

 

$

350,079

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of and for the

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2025

 

Asia

 

Americas

 

Europe

 

Consolidated

 

Total sales

 

$

1,192,521

 

 

837,343

 

 

$

180,888

 

 

$

2,210,752

 

Intercompany elimination

 

 

(539,676

)

 

(474,653

)

 

 

(105,928

)

 

 

(1,120,257

)

Net sales

 

$

652,845

 

 

$

362,690

 

 

$

74,960

 

 

$

1,090,495

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property, plant, and equipment, net

 

$

492,175

 

 

$

68,893

 

 

$

96,345

 

 

$

657,413

 

Total assets

 

$

1,608,545

 

 

$

599,627

 

 

$

261,619

 

 

$

2,469,791

 

 

 

 

 

 

 

As of and for the

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2024

 

Asia

 

Americas

 

Europe

 

Consolidated

 

Total sales

 

$

1,051,118

 

$

695,447

 

 

$

204,868

 

 

$

1,951,433

 

Intercompany elimination

 

 

(445,714

)

 

(431,204

)

 

 

(102,693

)

 

 

(979,611

)

Net sales

 

$

605,404

 

 

$

264,243

 

 

$

102,175

 

 

$

971,822

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property, plant, and equipment, net

 

$

515,347

 

 

$

78,915

 

 

$

109,463

 

 

$

703,725

 

Total assets

 

$

1,678,927

 

 

$

472,420

 

 

$

238,035

 

 

$

2,389,382

 

 

The tables below set forth net sales for the Company disaggregated into geographic locations based on shipment destination and by type (direct sales or Distributor):

 

 

For the Three Months Ended September 30,

Net Sales by Region

 

2025

 

 

2024

 

 

Asia

 

$

307,902

 

 

$

274,711

 

 

Europe

 

 

46,208

 

 

 

52,588

 

 

Americas

 

 

38,060

 

 

 

22,780

 

 

Total net sales

 

$

392,170

 

 

$

350,079

 

 

 

 

 

 

 

 

 

 

Net Sales by Type

 

 

 

 

 

 

 

Direct sales

 

$

132,074

 

 

$

127,219

 

 

Distributor sales

 

 

260,096

 

 

 

222,860

 

 

Total net sales

 

$

392,170

 

 

$

350,079

 

 

 

 

 

 

 

 

 

 

 

 

For the Nine Months Ended September 30,

 

 

Net Sales by Region

 

2025

 

 

2024

 

 

Asia

 

$

852,170

 

 

$

748,774

 

 

Europe

 

 

136,328

 

 

 

147,403

 

 

Americas

 

 

101,997

 

 

 

75,645

 

 

Total net sales

 

$

1,090,495

 

 

$

971,822

 

 

 

 

 

 

 

 

 

 

Net Sales by Type

 

 

 

 

 

 

 

Direct sales

 

$

383,903

 

 

$

362,223

 

 

Distributor sales

 

 

706,592

 

 

 

609,599

 

 

Total net sales

 

$

1,090,495

 

 

$

971,822

 

 

The table below sets forth the location to where products were shipped, representing 10% or more of net sales.

 

 

Location

 

Amount

 

For the three months ended September 30,

 

 

 

2025

 

 

2024

 

 

 

China

 

$

170.6

 

 

$

149.2

 

 

 

Singapore

 

$

38.2

 

 

$

36.2

 

 

 

Taiwan

 

$

44.0

 

 

$

41.2

 

For the nine months ended September 30,

 

 

 

 

 

 

 

 

 

 

China

 

$

488.4

 

 

$

430.2

 

 

 

Singapore

 

$

112.8

 

 

$

94.7

 

 

 

Taiwan

 

$

95.5

 

 

$

107.3