v3.26.3
Concentration
 6 Months Ended
Jun. 30, 2026
Concentration [Abstract]  
CONCENTRATION

13. CONCENTRATION

 

Customer concentration

 

For the six months ended June 30, 2026 and 2025, the following customers contributed revenues that were over 10% of total net revenues for the relevant periods. Customers accounting for 10% or more of the Company’s net revenues were as follows:

 

    For the Six Months Ended
June 30,		  
    2026     2025  
Customer A     20 %     22 %
Customer B     16 %     25 %
Customer C     15 %     *  
Customer D     10 %     14 %
Customer E     *       10 %

 

* Less than 10%

 

As of June 30, 2026 and December 31, 2025, accounts receivable due from the following customers were over 10% of consolidated accounts receivable. The details are as follows:

 

    June 30,
2026		     December 31,
2025		  
Customer B     53 %     59 %
Customer E     13 %     *  
Customer F     *       15 %

 

* Less than 10%

 

Vendor concentration

 

For the six months ended June 30, 2026 and 2025, the Company purchased products from the following vendors who charged over 10% of total cost of revenues for the relevant period, which include both brand partners and product distributors who distribute products from certain brands to us. Vendors accounting for 10% or more of the Company’s cost of revenues were as follows:

 

    For the Six Months Ended
June 30,		  
    2026     2025  
Vendor A     47 %     35 %
Vendor B     37 %     22 %

 

As of June 30, 2026 and December 31, 2025, accounts payable due to the following vendors were over 10% of consolidated accounts payable. The details are as follows:

 

    June 30,
2026		     December 31,
2025		  
Vendor C     39 %     37 %
Vendor D     24 %     39 %
Vendor E     20 %     19 %
Vendor F     11 %     *