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Business Segments, Concentration of Credit Risk and Significant Customers | 9 Months Ended
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Sep. 30, 2023
Business Segments, Concentration of Credit Risk and Significant Customers [Abstract] |
Business Segments, Concentration of Credit Risk and Significant Customers | Note 5. Business Segments, Concentration of Credit Risk and Significant Customers The Company determined its reporting units in accordance with ASC 280, Segment Reporting (ASC 280). Management evaluates a reporting unit by first identifying its operating segments under ASC 280. The Company then evaluates each operating segment to determine if it includes one or more components that constitute a business. If there are components within an operating segment that meet the definition of a business, the Company evaluates those components to determine if they must be aggregated into one or more reporting units. If applicable, when determining if it is appropriate to aggregate different operating segments, the Company determines if the segments are economically similar and, if so, the operating segments are aggregated. Management has determined that the Company has one consolidated operating segment. The Company’s reporting segment reflects the manner in which its chief operating decision maker reviews results and allocates resources. The Company’s reporting segment meets the definition of an operating segment and does not include the aggregation of multiple operating segments. The Company recognized revenue from shipments of product, licensing of its technologies and performance of services to customers by geographical location as follows (in thousands):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
United States |  | $ | 3,359 |  |  | $ | 1,918 |  |  | $ | 7,868 |  |  | $ | 7,158 |
Taiwan |  |  | 544 |  |  |  | 131 |  |  |  | 2,535 |  |  |  | 646 |
China |  |  | 321 |  |  |  | 447 |  |  |  | 614 |  |  |  | 1,328 |
Japan |  |  | 6 |  |  |  | 368 |  |  |  | 20 |  |  |  | 905 |
Rest of world |  |  | 251 |  |  |  | 430 |  |  |  | 879 |  |  |  | 944 |
Total net revenue |  | $ | 4,481 |  |  | $ | 3,294 |  |  | $ | 11,916 |  |  | $ | 10,981 |
The following is a breakdown of product revenue by category (in thousands):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
Product category |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Memory ICs |  | $ | 3,384 |  |  | $ | 1,748 |  |  | $ | 7,181 |  |  | $ | 5,528 |
mmWave ICs |  |  | 576 |  |  |  | 533 |  |  |  | 2,614 |  |  |  | 1,699 |
mmWave antenna modules |  |  | 302 |  |  |  | 779 |  |  |  | 1,586 |  |  |  | 3,139 |
mmWave other products |  |  | - |  |  |  | - |  |  |  | 4 |  |  |  | 18 |
|  | $ | 4,262 |  |  | $ | 3,060 |  |  | $ | 11,385 |  |  | $ | 10,384 |
Customers who accounted for at least 10% of total net revenue were:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Customer A |  |  | 45 | % |  |  | 24 | % |  |  | 29 | % |  |  | 24 | %
Customer D |  |  | 11 | % |  |  | * |  |  |  | 20 | % |  |  | * |
Customer B |  |  | * |  |  |  | * |  |  |  | * |  |  |  | 24 | %
Customer C |  |  | * |  |  |  | 14 | % |  |  | * |  |  |  | 10 | %
Customer E |  |  | * |  |  |  | * |  |  |  | * |  |  |  | 11 | %
* | Represents less than 10%
As of September 30, 2023, two customers accounted for 82% of accounts receivable. Four customers accounted for 79% of accounts receivable as of December 31, 2022.

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- 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
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