v3.26.1
Concentrations
 3 Months Ended
Mar. 31, 2026
Concentrations [Abstract]  
CONCENTRATIONS

11. CONCENTRATIONS

 

Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash, accounts receivable, account payable, other receivable and other non-current assets. The Company places its cash and cash equivalents with financial institutions with high-credit ratings in the U.S. The Company conducts credit evaluations of its customers and suppliers and generally does not require collateral or other security from them. The Company evaluates its collection experience and long outstanding balances to determine the need for an allowance for doubtful accounts.

 

The companies who accounted for 10% or more of the Company’s condensed consolidated accounts receivable and accounts payable as of December 31, 2025, and March 31, 2026, and of revenues and purchases for the three months ended March 31, 2025 and 2026 were as follows.

 

   As of December 31,   As of March 31, 
   2025   2026 
Debtors  $   %   $   % 
Accounts receivable                
Company A   775    27%   1,361    38%
Accounts Payable                    
Company E   1,000    62%   300    36%

 

   For the three months ended March 31, 
   2025   2026 
Debtors  $   %   $   % 
Revenues                
Company A   324    14%   719    26%
Purchase                    
Company E   *    *     *    *  

 

*

Represents less than 10%