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Concentrations of Risk

9 Months Ended

Sep. 30, 2024

Fair Value, Concentration of Risk, Financial Assets, Balance Sheet Groupings [Abstract]

Concentrations of Risk

Note 4. Concentrations of Risk

Customers

Customers who accounted for 10% or more of the Company’s revenues and outstanding balance of accounts receivable and contract assets are presented as follows:

		For the Three Months Ended September 30,				For the Nine Months Ended September 30,				As of		As of
		2024		2023		2024		2023		September 30, 2024		December 31, 2023
Distributor customer A		19%		20%		18%		18%		21%		16%
Distributor customer B		*		*		*		*		10%		*

* Represents less than 10%.

The Company’s customers that are distributors, as opposed to direct customers, represent highly diversified customer bases.

Suppliers

Suppliers who accounted for 10% or more of the Company’s inventory purchases and outstanding balance of accounts payable are presented as follows:

		For the Three Months Ended September 30,				For the Nine Months Ended September 30,				As of		As of
		2024		2023		2024		2023		September 30, 2024		December 31, 2023
Distributor supplier A		37%		46%		37%		39%		21%		18%
Direct supplier A		10%		*		12%		10%		*		*
Direct supplier B		*		13%		*		10%		*		*

* Represents less than 10%.

The Company’s suppliers that are distributors, as opposed to direct suppliers, represent highly diversified supplier bases.

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

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X

- References

No definition available.

+ Details

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