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Segment and Geographic Information | 6 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
Segment and Geographic Information | NOTE 15 – SEGMENT AND GEOGRAPHIC INFORMATION The Company has one reportable segment: Intellectual Property (“IP”) Licensing. Reportable segments are identified based on the Company’s organizational structure and information reviewed by the Company’s chief operating decision maker (“CODM”) to evaluate performance and allocate resources. The Company’s Chief Executive Officer is also the CODM as defined by the authoritative guidance on segment reporting. A portion of the Company’s revenue is derived from licensees headquartered outside of the U.S., and it is expected that this revenue will continue to account for a portion of total revenue in future periods. The table below lists the geographic revenue for the periods indicated (in thousands):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
U.S. |  | $ | 71,608 |  |  |  | 82 | % |  | $ | 69,936 |  |  |  | 84 | % |  | $ | 140,047 |  |  |  | 75 | % |  | $ | 151,065 |  |  |  | 76 | %
Canada |  |  | 3,376 |  |  |  | 4 |  |  |  | 3,287 |  |  |  | 4 |  |  |  | 6,573 |  |  |  | 4 |  |  |  | 8,243 |  |  |  | 4 |
Asia |  |  | 10,325 |  |  |  | 11 |  |  |  | 7,363 |  |  |  | 9 |  |  |  | 19,840 |  |  |  | 18 |  |  |  | 35,983 |  |  |  | 18 |
Europe and Middle East |  |  | 1,586 |  |  |  | 2 |  |  |  | 2,195 |  |  |  | 3 |  |  |  | 3,389 |  |  |  | 2 |  |  |  | 4,383 |  |  |  | 2 |
Other |  |  | 455 |  |  |  | 1 |  |  |  | 436 |  |  |  | — |  |  |  | 906 |  |  |  | 1 |  |  |  | 850 |  |  |  | — |
|  | $ | 87,350 |  |  |  | 100 | % |  | $ | 83,217 |  |  |  | 100 | % |  | $ | 170,755 |  |  |  | 100 | % |  | $ | 200,524 |  |  |  | 100 | %
For the three and six months ended June 30, 2024 and 2023, there were two and three customers, respectively, that each accounted for 10% or more of total revenue. The following table sets forth revenue generated from customers which comprise 10% or more of total revenue for the periods indicated:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Customer A |  |  | 19.7 | % |  |  | 20.7 | % |  |  | 20.1 | % |  |  | 17.1 | %
Customer B |  |  | 11.4 | % |  |  | 13.3 | % |  |  | 11.9 | % |  |  | 11.1 | %
Customer C |  | * |  |  |  | 10.4 | % |  | * |  |  | * |
Customer D |  | * |  |  | * |  |  | * |  |  |  | 10.4 | %
* denotes less than 10% of total revenue. As of June 30, 2024, the Company had one customer representing 69% of aggregate accounts receivable. At December 31, 2023, the Company had two customers representing 42% and 28% of aggregate accounts receivable, respectively. As of June 30, 2024 and December 31, 2023, property and equipment, net, was all located in the U.S.

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- Definition The entire disclosure for reporting segments including data and tables. 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