Significant Customers, Concentrations of Credit Risk and Geographic Information

3 Months Ended

Mar. 31, 2023

Significant Customers, Concentrations of Credit Risk and Geographic Information

Significant Customers, Concentrations of Credit Risk and Geographic Information

Note 5 – 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 March 31,
	2023		2022
Customer A	32	%	35	%
Customer B	*	%	15	%
Customer C	*	%	11	%

*    Less than 10% of total net revenues

Net revenues by geographic area are as follows:

	Three months ended March 31,
	2023		2022
	(in thousands)
United States	$	2,153	$	1,001
Asia and Middle East		826		811
Europe and other		299		179
Revenue, net	$	3,278	$	1,991

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 March 31, 2023, two customers accounted for 45% and 17% of total accounts receivable. At December 31, 2022, two customers accounted for 20% and 13% of total accounts receivable. Our allowance for doubtful accounts was $0 at both March 31, 2023 and December 31, 2022.

Our long-lived assets were geographically located as follows:

	March 31,		December 31,
	2023		2022
	(in thousands)
United States	$	900	$	935
Europe		4,448		—
Asia		313		344
Total long-lived assets	$	5,661	$	1,279