v3.26.1
SIGNIFICANT CUSTOMERS AND CREDIT CONCENTRATIONS
 3 Months Ended
Mar. 31, 2026
Risks and Uncertainties [Abstract]  
SIGNIFICANT CUSTOMERS AND CREDIT CONCENTRATIONS . SIGNIFICANT CUSTOMERS AND CREDIT CONCENTRATIONS
Customer Concentration
A majority of the Company’s revenues are attributable to sales of the Company’s products to distributors of electronic components. These distributors sell the Company’s products to a range of end users, including OEMs and merchant power supply manufacturers.
The following customers represented 10% or more of the Company’s net revenues for the three months ended March 31, 2026 and 2025 (in thousands):

Three Months Ended March 31,
Customer20262025
Distributor A59 %*
Distributor B
*51 %
Distributor C
*12 %

Revenues by Geographic Area
Revenues for the three months ended March 31, 2026 and 2025 were attributable to the following regions (in thousands):
Three Months Ended March 31,Three Months Ended March 31,
Region20262025
Hong Kong$6,583 76 %$8,270 59 %
United States1,109 13 1,262 9 
Rest of Asia682 8 2,523 18 
China177 2 981 7 
Europe47 1 561 4 
All others— — 421 3 
Total$8,598 100 %$14,018 100 %
Concentration of Credit Risk
The following customers represented 10% or more of the Company’s accounts receivable (in thousands).

CustomerMarch 31, 2026December 31, 2025
Distributor A$2,143 58 %$860 26 %
Distributor B
$386 10 %$386 12 %
Distributor C
$357 10 %$108 *
* Customer revenues or accounts receivable represented less than 10% of total revenues or accounts receivable.