XML 31 R25.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Segment and Geographic Information
 6 Months Ended
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.