Note 7 - Segment, Significant Customers and Geographic Information

3 Months Ended

Mar. 31, 2022

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 storage and computing, enterprise data, 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 March 31,
Customer	2022			2021
Distributor A		24	%		26	%
Distributor B		18	%		16	%
Distributor C		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:  

	March 31,			December 31,
	2022			2021
Distributor A		20	%		26	%
Distributor B		22	%		17	%
Value-added reseller A	*​​​​				12	%

* Represents less than 10%.

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

	Three Months Ended March 31,
Country or Region	2022		2021
China	$	206,079	$	153,383
Taiwan		56,437		30,445
Europe		25,215		20,380
South Korea		40,373		19,287
Southeast Asia		16,889		11,497
Japan		19,155		12,049
United States		13,446		7,302
Other		120		112
Total	$	377,714	$	254,455

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

	Three Months Ended March 31,
Product Family	2022		2021
Direct Current (“DC”) to DC	$	358,849	$	241,429
Lighting Control		18,865		13,026
Total	$	377,714	$	254,455

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

	March 31,		December 31,
Country	2022		2021
China	$	220,399	$	211,973
United States		113,053		113,805
Taiwan		19,376		19,607
Other		16,546		17,577
Total	$	369,374	$	362,962