v3.26.1
Enterprise-Wide Segment Information and Net Sales
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Enterprise-Wide Segment Information and Net Sales

NOTE 8 – Enterprise-Wide Segment Information and Net Sales

Segment Reporting. For financial reporting purposes, we operate in a single segment, standard semiconductor products, through our various manufacturing and distribution facilities. One segment reflects how our chief operating decision maker (“CODM”), which is our chief executive officer, allocates resources and measures results. Although our CODM regularly uses gross profit for key operating decisions about allocating resources and assessing performance, we have concluded that consolidated net income (loss) is also used and is the measure of profit or loss required to be disclosed under the provisions of ASC 280 for our single operating segment. Accordingly, we considered whether there were any significant expense categories to disclose and concluded that the consolidated financial statements and accompanying notes thereto include the relevant categories regularly provided to our CODM. The CODM's assessment of performance is predominantly performed during the Company’s annual budgeting and quarterly forecasting process where segment resourcing decisions, such as employee and capital, are made. The measure of segment assets is reported in our consolidated balance sheets as “Total assets.” Our primary operations include operations in Asia, the Americas, and Europe.

The table below sets forth the number of customers and the amount of sales to that customer, where that customer accounted for 10% or greater of our net sales during the applicable periods:

 

 

For the three months ended June 30,

 

 

For the six months ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Customer 1

 

$

45,583

 

 

$

45,937

 

 

$

90,058

 

 

$

79,538

 

Customer 2

 

$

54,681

 

 

$

43,829

 

 

$

105,520

 

 

$

82,864

 

Each of the customers that accounted for 10% or more of our net sales are broad-based distributors serving thousands of customers. At June 30, 2026 and December 31, 2025, one customer that accounted for 10% or more of the Company’s net sales accounted for approximately 15.1% and 16.3%, respectively, of the Company’s outstanding accounts receivable.

Disaggregation of Net Sales. We disaggregate net sales with customers into direct sales to end customers and distribution sales to distributors (“Distributors”) and by geographic area. Direct sales customers consist of those customers using our product in their manufacturing process, and Distributors are those customers who resell our products to third parties. We deliver our products to customers around the world for use in the industrial, automotive, computing, consumer, and communications markets. Further, most of our contracts are fixed-price arrangements, and are short term in nature, ranging from days to several months. The tables below set forth net sales based on the location of the subsidiary producing the net sale:

For the Three Months Ended June 30, 2026

 

Asia

 

Americas

 

Europe

 

Consolidated

 

Total sales

 

$

474,595

 

$

319,155

 

 

$

66,261

 

 

$

860,011

 

Intercompany elimination

 

 

(204,475

)

 

(177,949

)

 

 

(32,058

)

 

 

(414,482

)

Net sales

 

$

270,120

 

 

$

141,206

 

 

$

34,203

 

 

$

445,529

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Three Months Ended June 30, 2025

 

Asia

 

Americas

 

Europe

 

Consolidated

 

Total sales

 

$

396,839

 

$

276,715

 

 

$

59,634

 

 

$

733,188

 

Intercompany elimination

 

 

(178,321

)

 

(155,020

)

 

 

(33,635

)

 

 

(366,976

)

Net sales

 

$

218,518

 

 

$

121,695

 

 

$

25,999

 

 

$

366,212

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of and for the

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2026

 

Asia

 

Americas

 

Europe

 

Consolidated

 

Total sales

 

$

911,325

 

 

612,075

 

 

$

135,507

 

 

$

1,658,907

 

Intercompany elimination

 

 

(398,475

)

 

(345,641

)

 

 

(63,795

)

 

 

(807,911

)

Net sales

 

$

512,850

 

 

$

266,434

 

 

$

71,712

 

 

$

850,996

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property, plant, and equipment, net

 

$

505,314

 

 

$

66,802

 

 

$

89,155

 

 

$

661,271

 

Total assets

 

$

1,726,216

 

 

$

583,525

 

 

$

273,624

 

 

$

2,583,365

 

 

 

 

 

 

 

As of and for the

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2025

 

Asia

 

Americas

 

Europe

 

Consolidated

 

Total sales

 

$

749,530

 

$

538,660

 

 

$

117,885

 

 

$

1,406,075

 

Intercompany elimination

 

 

(337,485

)

 

(303,377

)

 

 

(66,888

)

 

 

(707,750

)

Net sales

 

$

412,045

 

 

$

235,283

 

 

$

50,997

 

 

$

698,325

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property, plant, and equipment, net

 

$

507,574

 

 

$

71,663

 

 

$

100,805

 

 

$

680,042

 

Total assets

 

$

1,646,477

 

 

$

556,335

 

 

$

268,743

 

 

$

2,471,555

 

 

The tables below set forth net sales for the Company disaggregated into geographic locations based on shipment destination and by type (direct sales or distributor sales):

 

 

For the Three Months Ended June 30,

 

 

Net Sales by Region

 

2026

 

 

2025

 

 

Asia

 

$

350,924

 

 

$

285,976

 

 

Europe

 

 

55,149

 

 

 

45,545

 

 

Americas

 

 

39,456

 

 

 

34,691

 

 

Total net sales

 

$

445,529

 

 

$

366,212

 

 

 

 

 

 

 

 

 

 

Net Sales by Type

 

 

 

 

 

 

 

Direct sales

 

$

162,256

 

 

$

129,996

 

 

Distributor sales

 

 

283,273

 

 

 

236,216

 

 

Total net sales

 

$

445,529

 

 

$

366,212

 

 

 

 

 

 

 

 

 

 

 

 

For the Six Months Ended June 30,

 

 

Net Sales by Region

 

2026

 

 

2025

 

 

Asia

 

$

664,869

 

 

$

544,269

 

 

Europe

 

 

112,071

 

 

 

90,119

 

 

Americas

 

 

74,056

 

 

 

63,937

 

 

Total net sales

 

$

850,996

 

 

$

698,325

 

 

 

 

 

 

 

 

 

 

Net Sales by Type

 

 

 

 

 

 

 

Direct sales

 

$

312,772

 

 

$

251,829

 

 

Distributor sales

 

 

538,224

 

 

 

446,496

 

 

Total net sales

 

$

850,996

 

 

$

698,325

 

 

The table below sets forth the location to where products were shipped, representing 10% or more of net sales in at least one of the periods shown below:

 

 

Location

 

Amount

 

For the three months ended June 30,

 

 

 

2026

 

 

2025

 

 

 

China

 

$

219,067

 

 

$

164,401

 

 

 

Singapore

 

$

46,726

 

 

$

44,467

 

For the six months ended June 30,

 

 

 

 

 

 

 

 

 

 

China

 

$

396,061

 

 

$

317,849

 

 

 

Singapore

 

$

83,074

 

 

$

74,636