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Business Segments, Concentration of Credit Risk and Significant Customers
 3 Months Ended
Mar. 31, 2024
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 
   March 31, 
   2024   2023 
United States  $2,230   $3,089 
Hong Kong   213    146 
Taiwan   89    1,429 
Rest of world   284    369 
Total net revenue  $2,816   $5,033 

 

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

 

   Three Months Ended
March 31,		 
Product category  2024   2023 
Memory ICs  $2,383   $2,181 
mmWave ICs   77    1,479 
mmWave modules   203    1,224 
mmWave other products   13    4 
   $2,676   $4,888 

  

The following lists significant customers that represented more than 10% of the Company’s total revenue and/or net accounts receivable balance, as applicable, at each respective balance sheet date:

 

    Revenue     Accounts Receivable  
    For the Three Months Ended
March 31,		     March 31,     December 31,  
    2024     2023     2024     2023  
Customer A     51 %     13 %     42 %     36 %
Customer B     28 %     25 %     42 %     33 %
Customer C    
*
       27 %    
*
      
*
  
Customer D    
*
       21 %    
*
      
*
  
Customer E    
*
      
*
      
*
       14 %

 

The following lists significant vendors that represented more than 10% of the Company’s total accounts payable balance at each respective balance sheet date:

 

   Accounts Payable 
   March 31,   December 31, 
   2024   2023 
Vendor A   52%   47%
Vendor B   
*
    12%

 

* Represents less than 10%