XML 35 R24.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Concentrations | 12 Months Ended
--- | ---
Dec. 31, 2023
Risks and Uncertainties [Abstract] |
Concentrations | Note 15. Concentrations Concentration of Sales and Accounts Receivable The following represents customers that accounted for 10% or more of total revenue:
|  | For the Years Ended December 31, |
|  | 2023 |  |  | 2022 |
Customer A |  |  | 15 | % |  |  | 17 | %
Customer B |  |  | 15 | % |  |  | 13 | %
Customer C |  |  | 10 | % |  |  | 10 | %
The following represents customers that accounted for 10% or more of total trade accounts receivable:
|  | As of December, 31 |
|  | 2023 |  |  | 2022 |
Customer A |  |  | 14 | % |  |  | 12 | %
Customer B |  |  | 14 | % |  |  | 3 | %
Customer C |  |  | 11 | % |  |  | 15 | %
Customer D |  |  | 10 | % |  |  | 2 | %
The allowance for credit losses as of December 31, 2023 and 2022 were not material. Concentration of Purchases During the year ended December 31, 2023, the Company’s products were primarily manufactured by six CMs with locations in China, Mexico, Minnesota, and Vietnam. Concentration of Cash The bank where most of the Company’s cash was held was placed into receivership with the FDIC on March 10, 2023. The Company’s cash deposits exceeded the FDIC insured limits at that time. However, the Treasury, the Federal Reserve, and the FDIC, as receiver, jointly released a statement that depositors at this specific bank would have access to their funds, including funds in excess of standard FDIC insurance limits. The Company has not experienced losses on these accounts. In the second quarter of 2023, the Company moved most of the deposits out of this institution to several accounts at a larger institutional bank. As of December 31, 2023, 88% of the deposits are at the large institutional bank. Concentration of Property and Equipment The Company’s property and equipment, net by geographic region, are as follows (in thousands):
|  | As of December, 31 |
|  | 2023 |  |  | 2022 |
North America |  | $ | 2,295 |  |  | $ | 2,469 |
Asia Pacific (APAC) |  |  | 86 |  |  |  | 138 |
Europe, Middle East and Africa (EMEA) |  |  | 126 |  |  |  | 158 |
Property and equipment, net |  | $ | 2,507 |  |  | $ | 2,765 |

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 + Details
Name: | us-gaap_ConcentrationRiskDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RisksAndUncertaintiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration