Geographic and Other Information

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Geographic and Other Information

12. Geographic and Other Information

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

	Three Months Ended
	March 31, 2022		March 31, 2021
Revenues
Standard products business
Display Solutions	$	29,185	$	58,895
Power Solutions		64,825		54,011
Total standard products business	$	94,010	$	112,906
Transitional Fab 3 foundry services		10,083		10,113
Total revenues	$	104,093	$	123,019

	Three Months Ended
	March 31, 2022		March 31, 2021
Gross Profit
Standard products business	$	37,930	$	33,659
Transitional Fab 3 foundry services		1,066		723
Total gross profit	$	38,996	$	34,382

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, 2022		March 31, 2021
Korea	$	31,030	$	26,434
Asia Pacific (other than Korea)		58,260		83,740
United States		2,864		1,274
Europe		1,856		1,243
Others		—		215
Total	$	94,010	$	112,906

For the three months ended March 31, 2022 and 2021, 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 71.1% and 57.1%, respectively, and net sales—standard products business in Vietnam represented 14.4% and 37.4%, 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 72% and 82% for the three months ended March 31, 2022 and 2021, 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. For the three months ended March 31, 2021, the Company had two customers that represented 48.8% and 10.0% of its net sales – standard products business, respectively.

As of March 31, 2022, two customers accounted for 17.0% and 16.7% of accounts receivable, respectively. As of December 31, 2021, two customers accounted for 25.6% and 18.6% of accounts receivable, respectively.