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Business Segments, Concentration of Credit Risk and Significant Customers | 9 Months Ended
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Sep. 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 determines 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, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
United States |  | $ | 3,680 |  |  | $ | 3,359 |  |  | $ | 9,219 |  |  | $ | 7,868 |
Hong Kong |  |  | 25 |  |  |  | 321 |  |  |  | 471 |  |  |  | 614 |
Taiwan |  |  | 24 |  |  |  | 544 |  |  |  | 185 |  |  |  | 2,535 |
Rest of world |  |  | 112 |  |  |  | 257 |  |  |  | 1,020 |  |  |  | 899 |
Total net revenue |  | $ | 3,841 |  |  | $ | 4,481 |  |  | $ | 10,895 |  |  | $ | 11,916 |
The following is a breakdown of product revenue by category (in thousands):
|  | Three months Ended September 30, |  |  | Nine Months Ended September 30, |
Product category |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Memory ICs |  | $ | 3,677 |  |  | $ | 3,384 |  |  | $ | 9,487 |  |  | $ | 7,181 |
mmWave ICs |  |  | 67 |  |  |  | 576 |  |  |  | 272 |  |  |  | 2,614 |
mmWave modules |  |  | 60 |  |  |  | 302 |  |  |  | 817 |  |  |  | 1,586 |
mmWave other products |  |  | 7 |  |  |  | — |  |  |  | 20 |  |  |  | 4 |
|  | $ | 3,811 |  |  | $ | 4,262 |  |  | $ | 10,596 |  |  | $ | 11,385 |
The following table lists significant customers that represented more than 10% of the Company’s total revenue during each respective period:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Customer A |  |  | 68 | % |  |  | 25 | % |  |  | 58 | % |  |  | 10 | %
Customer B |  |  | 26 | % |  |  | 45 | % |  |  | 23 | % |  |  | 34 | %
Customer C |  |  | * |  |  |  | 11 | % |  |  | * |  |  |  | 20 | %
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 |
|  | September 30, |  |  | December 31, |
|  | 2024 |  |  | 2023 |
Customer A |  |  | 51 | % |  |  | 36 | %
Customer B |  |  | 33 | % |  |  | 33 | %
Customer C |  |  | * |  |  |  | 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 |
|  | September 30, |  |  | December 31, |
|  | 2024 |  |  | 2023 |
Vendor A |  |  | 20 | % |  |  | 47 | %
Vendor B |  |  | 16 | % |  |  | * |
Vendor C |  |  | * |  |  |  | 12 | %
* | Represents less than 10%

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