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Concentration of Credit Risk, Significant Customers and Geographic Information (Tables) | 6 Months Ended
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Jun. 30, 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 June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Percentage of total net revenue |  |  |  |  |  |  |
Customer A | * |  | * |  | 12 | % |  | *
Customer B | * |  | * |  | * |  | 11 | %
Customer C | 15 | % |  | * |  | 10 | % |  | *
____________________________ * 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.
| June 30, 2024 |  | December 31, 2023 |  |  |  |  |  |
Percentage of gross accounts receivable |  |  |  |  |  |  |  |  |
Customer D | 24 | % |  | 33 | % |  |  |  |  |  |
Customer E | 15 | % |  | 24 | % |  |  |  |  |  |
Customer F | 18 | % |  | * |  |  |  |  |  |
Significant Suppliers Suppliers comprising greater than 10% or greater of total inventory purchases are as follows:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Vendor A |  | 17 | % |  | 11 | % |  | 12 | % |  | 19 | %
Vendor B |  | 37 | % |  | 29 | % |  | 40 | % |  | 26 | %
Vendor C |  | 10 | % |  | * |  | 11 | % |  | *
Vendor D |  | * |  | 12 | % |  | * |  | 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 June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
| Amount |  | % of total net revenue |  | Amount |  | % of total net revenue |  | Amount |  | % of total net revenue |  | Amount |  | % of total net revenue
Asia | $ | 72,430 |  |  | 79 | % |  | $ | 128,328 |  |  | 70 | % |  | $ | 128,262 |  |  | 68 | % |  | $ | 320,831 |  |  | 74 | %
Europe | 11,378 |  |  | 12 | % |  | 44,956 |  |  | 24 | % |  | 18,826 |  |  | 10 | % |  | 85,172 |  |  | 20 | %
United States | 7,157 |  |  | 9 | % |  | 8,906 |  |  | 5 | % |  | 37,631 |  |  | 20 | % |  | 21,090 |  |  | 5 | %
Rest of world | 1,025 |  |  | 1 | % |  | 1,748 |  |  | 1 | % |  | 2,540 |  |  | 1 | % |  | 5,287 |  |  | 1 | %
Total | $ | 91,990 |  |  | 100 | % |  | $ | 183,938 |  |  | 100 | % |  | $ | 187,259 |  |  | 100 | % |  | $ | 432,380 |  |  | 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 June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Percentage of total net revenue |  |  |  |  |  |  |
Hong Kong | 34 | % |  | 32 | % |  | 31 | % |  | 31 | %
China | * |  | 12 | % |  | * |  | 14 | %
Germany | * |  | 10 | % |  | * |  | *
Malaysia | 12 | % |  | * |  | * |  | *
____________________________ * 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):
|  | June 30, 2024 |  | December 31, 2023
|  | Amount |  | % of total |  | Amount |  | % of total
United States |  | $ | 329,466 |  |  | 70 | % |  | $ | 337,696 |  |  | 69 | %
Singapore |  | 109,759 |  |  | 23 | % |  | 113,248 |  |  | 23 | %
Rest of world |  | 31,454 |  |  | 7 | % |  | 38,969 |  |  | 8 | %
Total |  | $ | 470,679 |  |  | 100 | % |  | $ | 489,913 |  |  | 100 | %

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