Note 7 - Segment, Significant Customers and Geographic Information

3 Months Ended

Mar. 31, 2023

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 electronic 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	2023			2022
Distributor A		20	%		24	%
Distributor B		21	%		18	%
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 any termination of the agreement with a 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,
Customer	2023			2022
Distributor A		22	%		29	%
Distributor B		23	%		23	%

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

	Three Months Ended March 31,
Country or Region	2023		2022
China	$	225,052	$	206,079
Taiwan		48,833		56,437
South Korea		45,680		40,373
Europe		43,103		25,215
United States		31,017		13,446
Japan		30,815		19,155
Southeast Asia		26,432		16,889
Other		133		120
Total	$	451,065	$	377,714

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

	Three Months Ended March 31,
Product Family	2023		2022
Direct Current (“DC”) to DC	$	425,181	$	358,849
Lighting Control		25,884		18,865
Total	$	451,065	$	377,714

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

	March 31,		December 31,
Country	2023		2022
China	$	196,790	$	200,508
United States		115,363		113,996
Taiwan		19,812		20,074
Other		22,348		22,579
Total	$	354,313	$	357,157