MAJOR CUSTOMERS AND RELATED INFORMATION |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| MAJOR CUSTOMERS AND RELATED INFORMATION [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| MAJOR CUSTOMERS AND RELATED INFORMATION |
15. MAJOR CUSTOMERS AND RELATED INFORMATION
For the three months ended March 31, 2026, revenue from one customer accounted for approximately 40% of revenue, with no other single customer accounting for more than 10% of total revenue. For the three months ended March 31, 2025, revenue from three customers accounted for approximately 13%, 13% and 11% of revenue, respectively.
At March 31, 2026, accounts receivable from three distributors accounted for 29%, 24%, and 14% of net accounts receivable and contract assets with no other single customer accounting for more than 10% of the accounts receivable and contract assets balance. At December 31, 2025, accounts receivable from two distributors accounted for 71% and 10%, respectively of net accounts receivable and contract assets, with no other single customer accounting for more than 10% of the accounts receivable and contract assets balance.
The following table summarizes revenue by geographic region. Revenue is attributed to countries based on customer’s delivery location:
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