v3.26.1
Concentrations
 6 Months Ended
Jun. 30, 2026
Concentrations [Abstract]  
CONCENTRATIONS

12. 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 June 30, 2026, and of revenues and purchases for the six months ended June 30, 2025 and 2026 were as follows.

 

   As of December 31,   As of June 30, 
   2025   2026 
Debtors  $   %   $   % 
Accounts receivable                
Company A   775    27%   *    * 
Accounts Payable                    
Company E   1,000    62%   *    * 

 

   For the six months ended June 30, 
   2025   2026 
Debtors  $   %   $   % 
Revenues                
Company A   324    14%   1,118    21%
Purchase                    
Company E   *    *     800    23%

 

* Represents less than 10%