Segment Information

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Segment Information

Segments and Major Customers

Operating segments are based upon the Company’s internal organization structure, the manner in which its operations are managed, the criteria used by its Chief Operating Decision Maker (“CODM”) to evaluate segment performance and availability of separate financial information regularly reviewed for resource allocation and performance assessment.

The Company has determined its CODM to be the Chief Executive Officer (“CEO”). The CEO reviews financial information presented on a consolidated basis for purposes of managing the business, allocating resources, making operating decisions and assessing financial performance. On this basis, the Company is organized and operates as a single segment within the semiconductor space. As of March 31, 2024, the Company has a single operating and reportable segment.

Accounts receivable from the Company’s major customers representing 10% or more of total accounts receivable at March 31, 2024 and December 31, 2023, respectively, was as follows:

	As of
Customer	March 31, 2024		December 31, 2023
Customer 1	61	%	49	%
Customer 2	*		13	%
Customer 3	*		12	%

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*    Customer accounted for less than 10% of total accounts receivable in the period.

Revenue from the Company’s major customers representing 10% or more of total revenue for the three months ended March 31, 2024 and 2023, respectively, was as follows:

	Three Months Ended
	March 31,
Customer	2024		2023
Customer A	31	%	11	%
Customer B	13	%	19	%
Customer C	13	%	11	%
Customer D	*		16	%

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*    Customer accounted for less than 10% of total revenue in the period.

Revenue from customers in the geographic regions based on the location of contracting parties was as follows:

	Three Months Ended
	March 31,
(In thousands)	2024		2023
USA	$	51,917	$	63,656
South Korea	42,966		14,144
Singapore	5,167		11,328
Other	17,821		24,634
Total	$	117,871	$	113,762