Significant Customers, Concentrations of Credit Risk, and Geographic Information

9 Months Ended

Sep. 30, 2021

Significant Customers, Concentrations of Credit Risk, and Geographic Information

Significant Customers, Concentrations of Credit Risk, and Geographic Information

Note 4 – Significant Customers, Concentrations of Credit Risk, and Geographic Information

We manage and operate our business through one operating segment.

Net revenues from customers equal to or greater than 10% of total net revenues are as follows:

	Three months ended September 30,				Nine months ended September 30,
	2021		2020		2021		2020
Customer A	17	%	24	%	22	%	17	%
Customer B	15	%	*	%	11	%	11	%
Customer C	*	%	11	%	13	%	11	%

*    Less than 10% of total net revenues

Net revenues by geographic area are as follows:

	Three months ended September 30,				Nine months ended September 30,
	2021		2020		2021		2020
	(in thousands)
United States	$	674	$	512	$	1,534	$	1,934
Asia and Middle East		1,383		935		3,873		2,577
Europe and other		166		101		448		430
Revenue, net	$	2,223	$	1,548	$	5,855	$	4,941

Revenues by geographic area are based on the country of shipment destination. The geographic location of distributors and third-party manufacturing service providers may be different from the geographic location of the purchasers and/or ultimate end users.

We provide credit only to creditworthy third parties who are subject to our credit verification procedures. Accounts receivable balances are monitored on an ongoing basis, and accounts deemed to have credit risk are fully reserved. At September 30, 2021, two customers accounted for 34% and 23% of total accounts receivable, respectively. At December 31, 2020, two customers accounted for 47% and 22% of total accounts receivable, respectively. Our allowance for doubtful accounts was $0 at both September 30, 2021 and December 31, 2020.

Our long-lived assets were geographically located as follows:

	September 30,		December 31,
	2021		2020
	(in thousands)
United States	$	1,124	$	1,194
Asia		204		332
Total long-lived assets	$	1,328	$	1,526