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Segment and Geographic Information
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment and Geographic Information

11. Segment and Geographic Information

The Company’s chief operating decision maker (CODM) is the Company’s chief executive officer (CEO) and reviews the financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance, and allocating resources. The CODM uses revenue, gross margin, operating expenses and net loss by its single operating and reportable segment to make strategic business decisions.

The following table sets forth the Company’s disaggregation of operating expenses which were reviewed by the CODM for the three and nine months ended September 30, 2025 and 2024 (in thousands):

 

 

Three months ended
September 30,

 

 

Nine months Ended
September 30,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Research and development

 

$

8,889

 

 

$

9,568

 

 

$

26,474

 

 

$

28,395

 

Sales and marketing

 

 

2,479

 

 

 

2,758

 

 

 

7,427

 

 

 

8,025

 

General and administrative

 

 

6,352

 

 

 

4,361

 

 

 

16,916

 

 

 

13,065

 

Total operating expenses

 

$

17,720

 

 

$

16,687

 

 

$

50,817

 

 

$

49,485

 

The following is a summary of net sales for the three and nine months ended September 30, 2025 and 2024, based on the country to which the Company's products were shipped, which may be different from the geographic locations of the ultimate end customers (in thousands):

 

 

Three months ended
September 30,

 

 

Nine months Ended
September 30,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Taiwan

 

$

7,409

 

 

$

4,055

 

 

$

20,254

 

 

$

13,923

 

China

 

 

6,202

 

 

 

15,219

 

 

 

20,459

 

 

 

39,519

 

Singapore

 

 

1,629

 

 

 

—

 

 

 

7,284

 

 

 

1

 

Rest of the World*

 

 

2,925

 

 

 

992

 

 

 

3,773

 

 

 

2,285

 

Total

 

$

18,165

 

 

$

20,266

 

 

$

51,770

 

 

$

55,728

 

*Other countries individually less than 10%

 

 

 

 

 

 

 

 

 

 

 

 

The following illustrates property, equipment and software, net, and right-of-use assets, net by geographic locations based on physical location (in thousands):

 

September 30,
2025

 

 

December 31,
2024

 

Taiwan

 

$

3,747

 

 

$

2,139

 

China

 

 

711

 

 

 

593

 

North America

 

 

601

 

 

 

786

 

Rest of the World*

 

 

23

 

 

 

26

 

Total

 

$

5,082

 

 

$

3,544

 

*Other countries individually less than 10%