Note 7 - Segment, Significant Customers and Geographic Information

6 Months Ended

Jun. 30, 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 June 30,						Six Months Ended June 30,
Customer	2023			2022			2023			2022
Distributor A		22	%		24	%		21	%		24	%
Distributor B		20	%		18	%		21	%		18	%
Distributor C		11	%		11	%		10	%		11	%

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 were 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:

	June 30,			December 31,
Customer	2023			2022
Distributor A		27	%		29	%
Distributor B		22	%		23	%

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	2023		2022		2023		2022
China	$	216,172	$	249,778	$	441,224	$	455,858
Taiwan		70,212		69,668		119,045		126,105
South Korea		40,669		43,046		86,349		83,418
Europe		36,348		31,179		79,451		56,394
United States		27,571		23,973		58,588		37,419
Japan		28,288		22,136		59,103		41,291
Southeast Asia		21,708		21,114		48,140		38,002
Other		160		110		293		231
Total	$	441,128	$	461,004	$	892,193	$	838,718

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

	Three Months Ended June 30,				Six Months Ended June 30,
Product Family	2023		2022		2023		2022
Direct Current (“DC”) to DC	$	418,175	$	442,250	$	843,356	$	801,099
Lighting Control		22,953		18,754		48,837		37,619
Total	$	441,128	$	461,004	$	892,193	$	838,718

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

	June 30,		December 31,
Country	2023		2022
China	$	184,186	$	200,508
United States		116,816		113,996
Taiwan		19,093		20,074
Other		21,816		22,579
Total	$	341,911	$	357,157