Concentrations

12 Months Ended

Dec. 31, 2024

Note 14. 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,
	2024			2023
Customer A		25	%		16	%
Customer B		15	%		15	%
Customer C		15	%		9	%

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


	As of December, 31
	2024			2023
Customer A		29	%		7	%
Customer B		19	%		17	%
Customer C		15	%		14	%

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

Concentration of Purchases

During the year ended December 31, 2024, the Company’s products were manufactured by eight CMs with locations in China, Taiwan, 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):


	As of December, 31
	2024		2023

North America	$	1,841	$	2,295
Asia Pacific (APAC)		56		86
Europe, Middle East and Africa (EMEA)		96		126
Property and equipment, net	$	1,993	$	2,507