Note 7 - Segment, Significant Customers and Geographic Information

6 Months Ended

Jun. 30, 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 June 30,						Six Months Ended June 30,
Customer	2022			2021			2022			2021
Distributor A		24	%		28	%		24	%		27	%
Distributor B		18	%		17	%		18	%		17	%
Distributor C		11	%		*			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:  

	June 30,			December 31,
	2022			2021
Distributor A		19	%		26	%
Distributor B		16	%		17	%
Value-added reseller A		21	%		12	%

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

	Three Months Ended June 30,				Six Months Ended June 30,
Country or Region	2022		2021		2022		2021
China	$	249,778	$	170,893	$	455,858	$	324,276
Taiwan		69,668		48,262		126,105		78,708
Europe		31,179		20,790		56,394		41,170
South Korea		43,046		18,992		83,418		38,279
Southeast Asia		21,114		12,188		38,002		23,686
Japan		22,136		14,552		41,291		26,602
United States		23,973		7,542		37,419		14,844
Other		110		98		231		207
Total	$	461,004	$	293,317	$	838,718	$	547,772

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

	Three Months Ended June 30,				Six Months Ended June 30,
Product Family	2022		2021		2022		2021
Direct Current (“DC”) to DC	$	442,250	$	278,808	$	801,099	$	520,237
Lighting Control		18,754		14,509		37,619		27,535
Total	$	461,004	$	293,317	$	838,718	$	547,772

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

	June 30,		December 31,
Country	2022		2021
China	$	209,016	$	211,973
United States		113,065		113,805
Taiwan		18,587		19,607
Other		16,019		17,577
Total	$	356,687	$	362,962