v3.26.3
Concentration of Credit Risk, Significant Customers and Geographic Information
 9 Months Ended
Sep. 30, 2026
Risks and Uncertainties [Abstract]  
Concentration of Credit Risk, Significant Customers and Geographic Information Concentration of Credit Risk, Significant Customers and Geographic Information
Concentration of Credit Risk
Financial instruments, which potentially subject the Company to concentrations of credit risk, consist primarily of cash and cash equivalents and accounts receivable. Collateral is generally not required for customer receivables. The Company limits its exposure to credit loss by placing its cash with high credit quality financial institutions. At times, such deposits may be in excess of insured limits. The Company has not experienced any losses on its deposits of cash and cash equivalents.
Significant Customers
The Company markets its products and services to manufacturers of a wide range of electronic devices (Note 1). The Company sells its products both directly to end-customers and through third-party distributors, both of which are referred to as the Company’s customers (Note 12). Revenue is also generated from sales of intellectual property, and the recipients of such intellectual property are also referred to as the Company’s customers. The Company makes periodic evaluations of the credit worthiness of its customers.
Customers comprising 10% or greater of net revenues for each of the periods presented are as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Percentage of total net revenue
Customer A*18 %10 %17 %
Customer B*11 %*13 %
____________________________
*    Represents less than 10% of the net revenue for the respective period.
The following table presents balances that are 10% or greater of gross accounts receivable, based on the Company’s billings to its customers.
September 30, 2026December 31, 2025
Percentage of gross accounts receivable
Customer C15 %26 %
Customer D15 %*
Customer E12 %14 %
Customer F*10 %
Customer G*10 %
____________________________
*    Represents less than 10% of the gross accounts receivable for the respective period.
Significant Suppliers

Suppliers comprising 10% or greater of total inventory purchases are as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Vendor A52 %34 %54 %33 %
Vendor B*25 %12 %23 %
Vendor C*18 %*15 %
____________________________
*    Represents less than 10% of the total inventory purchases for the respective period.
Geographic Information
The Company’s consolidated net revenues by geographic area based on ship-to location are as follows (dollars in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Amount% of total net revenueAmount% of total net revenueAmount% of total net revenueAmount% of total net revenue
Asia $194,509 89 %$105,592 83 %$443,689 85 %$267,971 81 %
Europe13,133 6 %16,343 13 %44,450 8 %47,398 14 %
United States8,165 4 %3,565 3 %31,654 6 %14,317 4 %
Rest of world2,250 1 %959 1 %4,299 1 %1,519 1 %
Total$218,057 100 %$126,459 100 %$524,092 100 %$331,205 100 %
The products shipped to individual countries or territories representing 10% or greater of total net revenue for each of the periods presented are as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Percentage of total net revenue
Hong Kong52 %46 %50 %48 %
Mainland China
12 %*12 %*
Vietnam12 %15 %11 %12 %
____________________________
*    Represents less than 10% of total net revenue for the respective period.
The determination of which country a particular sale is allocated to is based on the destination of the product shipment. No other individual country accounted for more than 10% of net revenue during these periods. Although a large percentage of the Company’s products is shipped to Asia, and in particular, Hong Kong, mainland China, and Vietnam, the Company believes that a significant number of the systems designed by customers and incorporating the Company’s semiconductor products are subsequently sold outside Asia to Europe, Middle East, and Africa markets and North American markets.
Long-lived assets, which consist of property and equipment, net, leased right-of-use assets, intangible assets, net, and goodwill by geographic area are as follows (dollars in thousands):
September 30, 2026December 31, 2025
Amount% of totalAmount% of total
United States$323,167 76 %$319,478 74 %
Singapore79,605 19 %92,519 21 %
Rest of world19,233 5 %19,862 5 %
Total$422,005 100 %$431,859 100 %