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Concentration of Credit Risk, Significant Customers and Geographic Information (Tables) | 3 Months Ended
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Mar. 31, 2024
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 March 31,
|  |  |  |  | 2024 |  | 2023
Percentage of total net revenue |  |  |  |  |  |  |
Customer A |  |  |  |  | 23 | % |  | *
Customer B |  |  |  |  | 13 | % |  | 15 | %
____________________________ * Represents less than 10% of the net revenue 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.
| March 31, 2024 |  | December 31, 2023 |  |  |  |  |  |
Percentage of gross accounts receivable |  |  |  |  |  |  |  |  |
Customer C | 32 | % |  | 33 | % |  |  |  |  |  |
Customer D | 38 | % |  | 24 | % |  |  |  |  |  |
Significant Suppliers Suppliers comprising greater than 10% or greater of total inventory purchases are as follows:
|  |  |  | Three Months Ended March 31,
|  |  |  |  |  | 2024 |  | 2023
Vendor A |  |  |  |  |  | * |  | 23 | %
Vendor B |  |  |  |  |  | 45 | % |  | 25 | %
Vendor C |  |  |  |  |  | 11 | % |  | *
Vendor D |  |  |  |  |  | * |  | 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 March 31,
|  |  |  |  | 2024 |  | 2023
|  |  |  |  |  |  |  |  | Amount |  | % of total net revenue |  | Amount |  | % of total net revenue
Asia |  |  |  |  |  |  |  |  | $ | 55,832 |  |  | 59 | % |  | $ | 192,502 |  |  | 77 | %
Europe |  |  |  |  |  |  |  |  | 7,448 |  |  | 8 | % |  | 40,216 |  |  | 16 | %
United States |  |  |  |  |  |  |  |  | 30,474 |  |  | 32 | % |  | 12,184 |  |  | 5 | %
Rest of world |  |  |  |  |  |  |  |  | 1,515 |  |  | 2 | % |  | 3,539 |  |  | 1 | %
Total |  |  |  |  |  |  |  |  | $ | 95,269 |  |  | 100 | % |  | $ | 248,441 |  |  | 100 | %
The products shipped to individual countries or territories representing greater than 10% of net revenue for each of the periods presented are as follows:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2024 |  | 2023
Percentage of total net revenue |  |  |  |  |  |  |
Hong Kong |  |  |  |  | 28 | % |  | 31 | %
China |  |  |  |  | * |  | 16 | %
____________________________ * Represents less than 10% of total net revenue for the respective period.
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):
|  | March 31, 2024 |  | December 31, 2023
|  | Amount |  | % of total |  | Amount |  | % of total
United States |  | $ | 331,552 |  |  | 69 | % |  | $ | 337,696 |  |  | 69 | %
Singapore |  | 114,115 |  |  | 24 | % |  | 113,248 |  |  | 23 | %
Rest of world |  | 33,666 |  |  | 7 | % |  | 38,969 |  |  | 8 | %
Total |  | $ | 479,333 |  |  | 100 | % |  | $ | 489,913 |  |  | 100 | %

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