Geographic and Other Information

3 Months Ended

Mar. 31, 2023

Geographic and Other Information [Abstract]

Geographic and Other Information

13. Geographic and Other Information

The following sets forth information relating to the single operating segment (in thousands):

	Three Months Ended
	March 31, 2023		March 31, 2022
Revenues
Standard products business
Display Solutions	$	10,841	$	29,185
Power Solutions		40,673		64,825
Total standard products business	$	51,514	$	94,010
Transitional Fab 3 foundry services		5,491		10,083
Total revenues	$	57,005	$	104,093

	Three Months Ended
	March 31, 2023			March 31, 2022
Gross Profit
Standard products business	$	14,202		$	37,930
Transitional Fab 3 foundry services		(2,108	)		1,066
Total gross profit	$	12,094		$	38,996

The following is a summary of net sales—standard products business (which does not include the Transitional Fab 3 Foundry Services) by geographic region, based on the location to which the products are billed (in thousands):

	Three Months Ended
	March 31, 2023		March 31, 2022
Korea	$	16,496	$	31,030
Asia Pacific (other than Korea)		31,901		58,260
United States		1,045		2,864
Europe		2,072		1,856
Total	$	51,514	$	94,010

For the three months ended March 31, 2023 and 2022, of the Company’s net sales – standard products business in Asia Pacific (other than Korea), net sales – standard products business in China and Hong Kong together represented 57.9% and 71.1%, respectively, and net sales—standard products business in Vietnam represented 17.8% and 14.4%, respectively.

Net sales from the Company’s top ten largest customers in the standard products business (which does not include the Transitional Fab 3 Foundry Services) accounted for 71% and 72% for the three months ended March 31, 2023 and 2022, respectively.

For the three months ended March 31, 2023, the Company had two customers that represented 16.4% and 13.7% of its net sales—standard products business, respectively. For the three months ended March 31, 2022, the Company had two customers that represented 25.5% and 12.9% of its net sales—standard products business, respectively.

As of March 31, 2023, two customers of the Company’s standard products business accounted for 22.3% and 14.3% of its accounts receivable – standard products business (which does not include the Transitional Fab 3 Foundry Services), respectively. As of December 31, 2022, two customers of the Company’s standard products business accounted for 25.1% and 15.2% of its accounts receivable – standard products business (which does not include the Transitional Fab 3 Foundry Services), respectively.