XML 29 R19.htm IDEA: XBRL DOCUMENT
v3.24.2

Concentration of Credit Risk, Significant Customers and Geographic Information | 6 Months Ended
--- | ---
Jun. 30, 2024
Risks and Uncertainties [Abstract] |
Concentration of Credit Risk, Significant Customers and Geographic Information | Concentration of Credit Risk, Significant Customers and Geographic Information Concentration of Credit Risk Financial instruments, which potentially subject the Company to concentrations of credit risk, consist primarily of cash and cash equivalents and accounts receivable. Collateral is generally not required for customer receivables. The Company limits its exposure to credit loss by placing its cash with high credit quality financial institutions. At times, such deposits may be in excess of insured limits. The Company has not experienced any losses on its deposits of cash and cash equivalents. Significant Customers The Company markets its products and services to manufacturers of a wide range of electronic devices (Note 1). The Company sells its products both directly to end-customers and through third-party distributors, both of which are referred to as the Company’s customers (Note 12). Revenue is also generated from sales of intellectual property, and the recipients of such intellectual property are also referred to as the Company’s customers. The Company makes periodic evaluations of the credit worthiness of its customers. 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. Geographic Information 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. The determination of which country a particular sale is allocated to is based on the destination of the product shipment. No other individual country accounted for more than 10% of net revenue during these periods. Although a large percentage of the Company’s products is shipped to Asia, and in particular, Hong Kong and Malaysia, the Company believes that a significant number of the systems designed by customers and incorporating the Company’s semiconductor products are subsequently sold outside Asia to Europe, Middle East, and Africa markets and North American markets. 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 | %

X
- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 275 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/275/tableOfContent + Details
Name: | us-gaap_ConcentrationRiskDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RisksAndUncertaintiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration