Note 7 - Segment, Significant Customers and Geographic Information

9 Months Ended

Sep. 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 September 30,						Nine Months Ended September 30,
Customer	2022			2021			2022			2021
Distributor A		25	%		24	%		24	%		26	%
Distributor B		18	%		15	%		18	%		16	%
Distributor C		10	%		12	%		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,
	2022			2021
Distributor A		27	%		26	%
Distributor B		18	%		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 September 30,				Nine Months Ended September 30,
Country or Region	2022		2021		2022		2021
China	$	265,053	$	184,796	$	720,911	$	509,072
Taiwan		58,920		47,048		185,025		125,756
Europe		44,885		21,328		101,279		62,498
South Korea		52,613		24,442		136,031		62,721
Southeast Asia		26,458		14,820		64,460		38,506
Japan		22,399		20,944		63,690		47,546
United States		24,965		10,091		62,384		24,935
Other		125		53		356		260
Total	$	495,418	$	323,522	$	1,334,136	$	871,294

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

	Three Months Ended September 30,				Nine Months Ended September 30,
Product Family	2022		2021		2022		2021
Direct Current (“DC”) to DC	$	462,982	$	307,368	$	1,264,081	$	827,605
Lighting Control		32,436		16,154		70,055		43,689
Total	$	495,418	$	323,522	$	1,334,136	$	871,294

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

	September 30,		December 31,
Country	2022		2021
China	$	194,811	$	211,973
United States		112,982		113,805
Taiwan		18,787		19,607
Other		16,543		17,577
Total	$	343,123	$	362,962