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Geographic and Other Information | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Geographic and Other Information | 15. Geographic and Other Information The Company operates within a single operating segment, Power solutions business, and also separately reports transitional Fab 3 foundry services revenue and cost of sales. The Chief Executive Officer, as the chief operating decision maker (“CODM”), organizes the Company and measures performance of two business lines of Power Analog Solutions and Power IC in the Power solutions business at the level of revenue and gross profit margin by comparing actual results against previously forecasted targets. The Company’s CODM does not evaluate the performance of each business line using any information, such as asset or liability. Revenues for the three months ended September 30, 2024 from its previous product categories have been reclassified in order to conform to the current period presentation as follows (in thousands):
|  |  | Power Analog Solutions |  |  | Power IC |  |  | Discontinued Operations |  |  | Total |
Mixed-Signal Solutions |  | $ | 16,446 |  |  | $ | — |  |  | $ | 5,420 |  |  | $ | 11,026 |  |  | $ | 16,446 |
Power Analog Solutions |  |  | 47,574 |  |  |  | 47,574 |  |  |  | — |  |  |  | — |  |  |  | 47,574 |
|  | $ | 64,020 |  |  | $ | 47,574 |  |  | $ | 5,420 |  |  | $ | 11,026 |  |  | $ | 64,020 |
Revenues for the nine months ended September 30, 2024 from its previous product categories have been reclassified in order to conform to the current period presentation as follows (in thousands):
|  |  | Power Analog Solutions |  |  | Power IC |  |  | Discontinued Operations |  |  | Total |
Mixed-Signal Solutions |  | $ | 37,047 |  |  | $ | — |  |  | $ | 13,621 |  |  | $ | 23,426 |  |  | $ | 37,047 |
Power Analog Solutions |  |  | 123,349 |  |  |  | 123,349 |  |  |  | — |  |  |  | — |  |  |  | 123,349 |
|  | $ | 160,396 |  |  | $ | 123,349 |  |  | $ | 13,621 |  |  | $ | 23,426 |  |  | $ | 160,396 |
The following sets forth information relating to the operating segment, Power solutions business, as well as the transitional Fab 3 foundry services (in thousands). For financial information below gross profit, including operating income and expenses as well as other income and expenses, please refer to the Company’s consolidated statements of operations.
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, 2025 |  |  | September 30, 2024 |  |  | September 30, 2025 |  |  | September 30, 2024 |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Power solutions business |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Power Analog Solutions |  | $ | 41,548 |  |  | $ | 47,574 |  |  | $ | 123,666 |  |  | $ | 123,349 |
Power IC |  |  | 4,398 |  |  |  | 5,420 |  |  |  | 14,624 |  |  |  | 13,621 |
Total Power solutions business |  |  | 45,946 |  |  |  | 52,994 |  |  |  | 138,290 |  |  |  | 136,970 |
Transitional Fab 3 foundry services |  |  | — |  |  |  | 2,440 |  |  |  | — |  |  |  | 8,302 |
Total revenues |  | $ | 45,946 |  |  | $ | 55,434 |  |  | $ | 138,290 |  |  | $ | 145,272 |
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, 2025 |  |  | September 30, 2024 |  |  | September 30, 2025 |  |  | September 30, 2024 |
Cost of Sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Power solutions business |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Power Analog Solutions |  | $ | 34,906 |  |  | $ | 38,325 |  |  | $ | 102,215 |  |  | $ | 100,751 |
Power IC |  |  | 2,499 |  |  |  | 3,004 |  |  |  | 8,460 |  |  |  | 7,603 |
Total Power solutions business |  |  | 37,405 |  |  |  | 41,329 |  |  |  | 110,675 |  |  |  | 108,354 |
Transitional Fab 3 foundry services |  |  | — |  |  |  | 2,599 |  |  |  | — |  |  |  | 9,267 |
Total cost of sales |  | $ | 37,405 |  |  | $ | 43,928 |  |  | $ | 110,675 |  |  | $ | 117,621 |
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, 2025 |  |  | September 30, 2024 |  |  | September 30, 2025 |  |  | September 30, 2024 |
Gross Profit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Power solutions business |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Power Analog Solutions |  | $ | 6,642 |  |  | $ | 9,249 |  |  | $ | 21,451 |  |  | $ | 22,598 |
Power IC |  |  | 1,899 |  |  |  | 2,416 |  |  |  | 6,164 |  |  |  | 6,018 |
Total Power solutions business |  |  | 8,541 |  |  |  | 11,665 |  |  |  | 27,615 |  |  |  | 28,616 |
Transitional Fab 3 foundry services |  |  | — |  |  |  | (159 | ) |  |  | — |  |  |  | (965 | )
Total gross profit |  | $ | 8,541 |  |  | $ | 11,506 |  |  | $ | 27,615 |  |  | $ | 27,651 |
The following is a summary of net sales – Power solutions business by geographic region, based on the location to which the products are billed (in thousands):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, 2025 |  |  | September 30, 2024 |  |  | September 30, 2025 |  |  | September 30, 2024 |
Korea |  | $ | 23,269 |  |  | $ | 22,893 |  |  | $ | 67,706 |  |  | $ | 59,867 |
Asia Pacific (other than Korea) |  |  | 20,308 |  |  |  | 28,189 |  |  |  | 63,745 |  |  |  | 71,879 |
United States |  |  | 1,137 |  |  |  | 667 |  |  |  | 3,789 |  |  |  | 1,313 |
Europe |  |  | 1,232 |  |  |  | 1,245 |  |  |  | 3,050 |  |  |  | 3,911 |
Total |  | $ | 45,946 |  |  | $ | 52,994 |  |  | $ | 138,290 |  |  | $ | 136,970 |
For the three months ended September 30, 2025 and 2024, of the Company’s net sales – Power solutions business in Asia Pacific (other than Korea), net sales – Power solutions business in China and Hong Kong together represented 74.6% and 83.7%, respectively, and net sales – Power solutions business in Taiwan represented 15.5% and 8.8%, respectively. For the nine months ended September 30, 2025 and 2024, of the Company’s net sales – Power solutions business in Asia Pacific (other than Korea), net sales – Power solutions business in China and Hong Kong represented 79.6% and 83.4%, respectively, and net sales – Power solutions business in Taiwan represented 12.4% and 9.4%, respectively. Net sales from the Company’s top ten largest customers in the Power solutions business accounted for 75.2% and 73.4% for the three months ended September 30, 2025 and 2024, respectively, and 74.2% and 72.5% for the nine months ended September 30, 2025 and 2024, respectively. For the three months ended September 30, 2025, the Company had one customer that represented 32.6% of net sales – Power solutions business. For the nine months ended September 30, 2025, the Company had one customer that represented 31.6% of its net sales – Power solutions business. For the three months ended September 30, 2024, the Company had one customer that represented 24.3% of its net sales – Power solutions business. For the nine months ended September 30, 2024, the Company had two customers that represented 25.5% and 10.1% of its net sales – Power solutions business, respectively. As of September 30, 2025, one customer of the Company’s Power solutions business accounted for 43.1% of its accounts receivable – Power solutions business. As of December 31, 2024, one customer of the Company’s Power solutions business accounted for 42.3% of its accounts receivable – Power solutions business.

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- Definition The entire disclosure for reporting segments including data and tables. 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