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Significant Customers, Concentrations of Credit Risk, and Geographic Information

6 Months Ended

Jun. 30, 2023

Significant Customers, Concentrations of Credit Risk, and Geographic Information

Significant Customers, Concentrations of Credit Risk, and Geographic Information

Note 7 – Significant Customers, Concentrations of Credit Risk, and Geographic Information

We manage and operate our business through one operating segment.

Net revenues from customers equal to or greater than 10% of total net revenues are as follows:

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​	​	​	​	​	​	​	​	​	​
​	​	Three Months Ended June 30,			​	Six Months Ended June 30,
​		2023		2022		2023		2022
Customer A		23	%	24	%	27	%	30	%
Customer B		13	%	*	%	*	%	*	%
Customer C	​	11	%	25	%	*	%	20	%

*    Less than 10% of total net revenues

Net revenues by geographic area are as follows:

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Three Months Ended June 30,

​

Six Months Ended June 30,

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2023

2022

2023

2022

​

(in thousands)

​

(in thousands)

United States

​

$

1,947

​

$

995

​

$

4,100

​

$

1,996

Asia and Middle East

​

1,128

​

969

​

1,954

​

1,780

Europe and other

​

974

​

76

​

1,273

​

255

Revenue, net

​

$

4,049

​

$

2,040

​

$

7,327

​

$

4,031

​

Revenues by geographic area are based on the country of shipment destination. The geographic location of distributors and third-party manufacturing service providers may be different from the geographic location of the purchasers and/or ultimate end users.

We provide credit only to creditworthy customers who are subject to our credit verification procedures. Accounts receivable balances are monitored on an ongoing basis, and accounts deemed to have credit risk are fully reserved. At June 30, 2023, two customers accounted for 29% and 18% of total accounts receivable. At December 31, 2022, two customers accounted for 20% and 13% of total accounts receivable. Our allowance for doubtful accounts was $0 at both June 30, 2023 and December 31, 2022.

Our long-lived assets were geographically located as follows:

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​	​	​	​	​	​	​
​		June 30,			December 31,
​		2023			2022
​		(in thousands)
United States	​	$	782	​	$	935
Europe	​	​	4,527	​	​	—
Asia	​		325	​		344
Total long-lived assets	​	$	5,634	​	$	1,279

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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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- References

No definition available.

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