Note 7 - Segment, Significant Customers and Geographic Information

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

7. SEGMENT, SIGNIFICANT CUSTOMERS AND GEOGRAPHIC INFORMATION

The Company operates in one reportable segment that includes the design, development, marketing and sale of high-performance, semiconductor-based power electronics solutions for the computing and storage, automotive, industrial, communications and consumer markets. The Company’s chief operating decision maker is its Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. The Company derives a majority of its revenue from sales to customers located outside North America, with geographic revenue based on the customers’ ship-to locations.  

The Company sells its products primarily through third-party distributors and value-added resellers, and directly to OEMs, ODMs and EMS providers. The following table summarizes those customers with sales equal to 10% or more of the Company's total revenue:  

	Three Months Ended September 30,						Nine Months Ended September 30,
Customer	2021			2020			2021			2020
Distributor A		24	%		22	%		26	%		23	%
Distributor B		15	%		11	%		16	%		*
Distributor C		12	%		*			*			*
Direct customer A		*			14	%		*			11	%

* Represents less than 10%.

The Company’s agreements with these third-party customers were made in the ordinary course of business and  may be terminated with or without cause by these customers with advance notice. Although the Company  may experience a short-term disruption in the distribution of its products and a short-term decline in revenue if its agreement with any of the distributors was terminated, the Company believes that such termination would not have a material adverse effect on its financial statements because it would be able to engage alternative distributors, resellers and other distribution channels to deliver its products to end customers within a short period following the termination of the agreement with the distributor.

The following table summarizes those customers with accounts receivable equal to 10% or more of the Company’s total accounts receivable:  

	September 30,			December 31,
Customer	2021			2020
Distributor A		17	%		24	%
Distributor B		18	%		21	%
Value-added reseller A		15	%		13	%
Direct customer A		*			10	%

* Represents less than 10%.

The following is a summary of revenue by geographic regions (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
Country or Region	2021		2020		2021		2020
China	$	184,796	$	157,215	$	509,072	$	375,708
Taiwan		47,048		40,782		125,756		79,644
Europe		21,328		14,255		62,498		40,770
South Korea		24,442		20,935		62,721		44,452
Southeast Asia		14,820		11,854		38,506		32,256
Japan		20,944		9,433		47,546		25,079
United States		10,091		4,880		24,935		13,298
Other		53		68		260		202
Total	$	323,522	$	259,422	$	871,294	$	611,409

The following is a summary of revenue by product family (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
Product Family	2021		2020		2021		2020
DC to DC	$	307,368	$	247,561	$	827,605	$	580,549
Lighting Control		16,154		11,861		43,689		30,860
Total	$	323,522	$	259,422	$	871,294	$	611,409

The following is a summary of long-lived assets by geographic regions (in thousands):

	September 30,		December 31,
Country	2021		2020
China	$	192,485	$	151,752
United States		113,310		101,768
Taiwan		19,187		18,797
Other		15,078		9,211
Total	$	340,060	$	281,528