Concentrations

6 Months Ended

Jun. 30, 2024

Note 14. Concentrations

Concentration of Sales and Accounts Receivable

The following represents customers that accounted for 10% or more of total revenue:


	Three months ended June 30,						Six months ended June 30,
	2024			2023			2024			2023
Customer A		24	%		9	%		20	%		12	%
Customer B		16	%		6	%		17	%		7	%

The following represents customers that accounted for 10% or more of total trade accounts receivable:


	June 30, 2024			December 31, 2023
Customer A		27	%		17	%
Customer B		14	%		14	%

The allowance for credit losses as of June 30, 2024 and December 31, 2023 was not material.

Concentration of Purchases

During the six months ended June 30, 2024, the Company’s products were manufactured by six CMs with locations in China, Vietnam, Mexico, and the United States.

Concentration of Cash

The Company’s cash deposits exceeded the Federal Deposit Insurance Corporation’s insured limits. The Company has not experienced losses on these accounts. Most of the Company's deposits are in several accounts at a large institutional bank.

Concentration of Property and Equipment

The Company’s property and equipment, net by geographic region, are as follows (in thousands):


	June 30, 2024		December 31, 2023
North America	$	2,038	$	2,295
Asia Pacific (APAC)		71		86
Europe, Middle East and Africa (EMEA)		111		126
Property and equipment, net	$	2,220	$	2,507