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Major Customers, Accounts Receivable and Vendor Concentration
 12 Months Ended
Dec. 31, 2024
Risks and Uncertainties [Abstract]  
Major Customers, Accounts Receivable and Vendor Concentration

14. MAJOR CUSTOMERS, ACCOUNTS RECEIVABLE AND VENDOR CONCENTRATION

The table below represents the Company’s major customers that accounted for more than 10% of total net sales for the periods:

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

Customer A

 

 

13

%

 

 

13

%

Customer B

 

*

 

 

 

10

%

Customer C

 

 

11

%

 

*

 

The table below represents the Company’s customers that accounted for more than 10% of total accounts receivable, net as of:

 

 

December 31, 2024

 

 

December 31, 2023

 

Customer B

 

*

 

 

 

13

%

Customer C

 

 

10

%

 

*

 

Customer I

 

*

 

 

 

18

%

Customer J

 

 

12

%

 

*

 

The table below represents raw material and finished goods vendors that accounted for more than 10% of all raw material and finished goods purchases for the following periods:

 

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

Vendor A

 

*

 

 

 

21

%

Vendor B

 

*

 

 

 

15

%

Vendor C

 

*

 

 

 

12

%

Vendor D

 

 

34

%

 

*

 

Vendor E

 

 

27

%

 

*

 

Vendor F

 

 

27

%

 

*

 

Vendor G

 

*

 

 

 

16

%

The change in vendor concentration during 2024 was driven by the changes made in our supply chain whereby our contract manufacturers are responsible for the procurement of raw materials to produce our products, which are then sold to us as finished goods.

* Less than 10% of total net sales, accounts receivable, net or raw material and finished goods purchases in the respective periods.