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Segment Information and Foreign Operations | 6 Months Ended
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Jun. 30, 2024
Segment Information and Foreign Operations |
Segment Information and Foreign Operations | Note 11. Segment Information and Foreign Operations ​ Segment Information ​ We operate in one segment for the design, development, manufacture and distribution of high-performance compound and single element semiconductor substrates and sale of raw materials integral to these substrates. In accordance with ASC Topic 280, Segment Reporting, our chief operating decision maker has been identified as the Chief Executive Officer, who reviews operating results to make decisions about allocating resources and assessing performance for the Company. Since we operate in one segment, all financial segment and product line information can be found in the condensed consolidated financial statements. ​ Product Information ​ The following table represents revenue amounts (in thousands) by product type: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended | ​ | ​
​ | ​ | June 30, | ​ | June 30, | ​ | ​
​ |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Product Type: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Substrates | ​ | $ | 19,745 | ​ | $ | 11,027 | ​ | $ | 36,648 | ​ | $ | 24,516 | ​ | ​
Raw Materials and Other | ​ |  | 8,178 | ​ |  | 7,568 | ​ |  | 13,963 | ​ |  | 13,484 | ​ | ​
Total | ​ | $ | 27,923 | ​ | $ | 18,595 | ​ | $ | 50,611 | ​ | $ | 38,000 | ​ | ​
​ Geographical Information ​ The following table represents revenue amounts (in thousands) reported for products shipped to customers in the corresponding geographic region:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended | ​ | ​
​ | ​ | June 30, | ​ | June 30, | ​ | ​
​ |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Geographical region: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
China | ​ | $ | 16,947 | ​ | $ | 10,289 | ​ | $ | 28,464 | ​ | $ | 18,391 | ​ | ​
Taiwan | ​ | ​ | 3,420 | ​ | ​ | 1,407 | ​ | ​ | 8,002 | ​ | ​ | 3,878 | ​ | ​
Japan | ​ |  | 796 | ​ |  | 1,396 | ​ |  | 1,786 | ​ |  | 2,931 | ​ | ​
Asia Pacific (excluding China, Taiwan and Japan) | ​ | ​ | 712 | ​ | ​ | 737 | ​ | ​ | 1,510 | ​ | ​ | 1,828 | ​ | ​
Europe (primarily Germany) | ​ | ​ | 4,689 | ​ | ​ | 3,015 | ​ | ​ | 8,414 | ​ | ​ | 6,585 | ​ | ​
North America (primarily the United States) | ​ |  | 1,359 | ​ |  | 1,751 | ​ | ​ | 2,435 | ​ | ​ | 4,387 | ​ | ​
Total | ​ | $ | 27,923 | ​ | $ | 18,595 | ​ | $ | 50,611 | ​ | $ | 38,000 | ​ | ​
​ Long-lived assets consist primarily of property, plant and equipment and operating lease right-of-use assets, and are attributed to the geographic location in which they are located. Long-lived assets, net of depreciation, by geographic region were as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of | ​
​ | ​ | June 30, | ​ | December 31, | ​
​ |  | 2024 |  | 2023 |
Long-lived assets by geographic region, net of depreciation: | ​ | ​ | ​ | ​ | ​ | ​ | ​
North America | ​ | $ | 1,493 | ​ | $ | 1,631 | ​
China | ​ |  | 162,370 | ​ |  | 167,516 | ​
​ | ​ | $ | 163,863 | ​ | $ | 169,147 | ​
​ Significant Customers ​ No customer represented 10% of our revenue for the three months ended June 30, 2024 and 2023. Our top five customers, although not the same five customers for each period, represented 32% and 24% of our revenue for the three months ended June 30, 2024 and 2023, respectively. ​ One customer represented 10% of our revenue for the six months ended June 30, 2024 and no customer represented 10% of our revenue for the six months ended June 30, 2023. Our top five customers, although not the same five customers for each period, represented 32% and 24% of our revenue for the six months ended June 30, 2024 and 2023, respectively. ​ We perform ongoing credit evaluations of our customers’ financial condition, and limit the amount of credit extended when deemed necessary, but generally do not require collateral. No customers accounted for 10% of our accounts receivable balance as of June 30, 2024, and December 31, 2023.

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