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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,
2024202320242023
Percentage of total net revenue
Customer A**12 %*
Customer B***11 %
Customer C15 %*10 %*
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*    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, 2024December 31, 2023
Percentage of gross accounts receivable
Customer D24 %33 %
Customer E15 %24 %
Customer F18 %*
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,
2024202320242023
Vendor A17 %11 %12 %19 %
Vendor B37 %29 %40 %26 %
Vendor C10 %*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,
2024202320242023
Amount% of total net revenueAmount% of total net revenueAmount% of total net revenueAmount% of total net revenue
Asia $72,430 79 %$128,328 70 %$128,262 68 %$320,831 74 %
Europe11,378 12 %44,956 24 %18,826 10 %85,172 20 %
United States7,157 9 %8,906 5 %37,631 20 %21,090 5 %
Rest of world1,025 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,
2024202320242023
Percentage of total net revenue
Hong Kong34 %32 %31 %31 %
China*12 %*14 %
Germany*10 %**
Malaysia12 %***
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*    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, 2024December 31, 2023
Amount% of totalAmount% of total
United States$329,466 70 %$337,696 69 %
Singapore109,759 23 %113,248 23 %
Rest of world31,454 7 %38,969 8 %
Total$470,679 100 %$489,913 100 %