XML 23 R13.htm IDEA: XBRL DOCUMENT

Business Segments, Concentration of Credit Risk and Significant Customers

6 Months Ended

Jun. 30, 2024

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 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				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
United States	$	3,308	$	1,421	$	5,539	$	4,510
Hong Kong		234		147		446		293
Taiwan		71		562		161		1,991
Rest of world		625		273		908		642
Total net revenue	$	4,238	$	2,403	$	7,054	$	7,436

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

	Three months Ended June 30,				Six Months Ended June 30,
Product category	2024		2023		2024		2023
Memory ICs	$	3,428	$	1,616	$	5,811	$	3,831
mmWave ICs		127		559		204		2,004
mmWave modules		553		60		757		1,284
mmWave other products		1		—		13		4
	$	4,109	$	2,235	$	6,785	$	7,123

The following table lists significant customers that represented more than 10% of the Company’s total revenue during each respective period:

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Customer A		55	%		*			53	%		10	%
Customer B		24	%		46	%		23	%		27	%
Customer C		12	%		*			*			*
Customer D		*			23	%		*			26	%
Customer E		*			*			*			15	%

The following table lists significant customers that represented more than 10% of the Company’s net accounts receivable balance at each respective balance sheet date:

	Accounts Receivable
	June 30,			December 31,
	2024			2023
Customer A		24	%		36	%
Customer B		33	%		33	%
Customer C		33	%		*
Customer D		*			14	%

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

	Accounts Payable
	June 30,			December 31,
	2024			2023
Vendor A		33	%		47	%
Vendor B		12	%		12	%

*	Represents less than 10%