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Business Segments, Concentration of Credit Risk and Significant Customers

12 Months Ended

Dec. 31, 2023

Business Segments, Concentration of Credit Risk and Significant Customers [Abstract]

Business Segments, Concentration of Credit Risk and Significant Customers

Note 6. Business Segments, Concentration of Credit Risk and Significant Customers

The Company determines its reporting units in accordance with ASC No. 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):

	Year Ended
	December 31,
	2023		2022
United States	$	8,786	$	8,932
Hong Kong		689		2,428
Taiwan		2,633		1,205
Rest of world		1,641		2,303
Total net revenue	$	13,749	$	14,868

The following is a breakdown of product revenue by category (in thousands):

	Years Ended December 31,
Product category	2023		2022
Memory ICs	$	8,446	$	7,722
mmWave ICs		2,726		3,289
mmWave modules		1,677		3,170
mmWave other products		4		18
	$	12,853	$	14,199

Customers who accounted for at least 10% of total net revenue were:

	Year Ended
	December 31,
	2023			2022
Customer A		35	%		26	%
Customer B		22	%		11	%
Customer C		18	%		*
Customer D		*			21	%
Customer E		*			16	%

Represents less than 10%

As of December 31, 2023, three customers accounted for 83% of accounts receivable, and the Company had a provision for doubtful accounts of $30,000 against one of the customer’s receivables. Four customers accounted for 79% of accounts receivable as of December 31, 2022.