v3.26.3
SIGNIFICANT CUSTOMERS AND CREDIT CONCENTRATIONS
9 Months Ended
Sep. 30, 2026
Risks and Uncertainties [Abstract]  
SIGNIFICANT CUSTOMERS AND CREDIT CONCENTRATIONS . SIGNIFICANT CUSTOMERS AND CREDIT CONCENTRATIONS
Customer Concentration
A majority of the Company’s revenues are attributable to sales of the Company’s products to distributors of electronic components. These distributors sell the Company’s products to a range of end users, including original equipment manufacturers and merchant power supply manufacturers.
The following customers represented 10% or more of the Company’s net revenues for the three and nine months ended September 30, 2026 and 2025:

Three Months Ended September 30,Nine Months Ended September 30,
Customer2026202520262025
Distributor A55 %*63 %*
Distributor B
*51 %*51 %
Distributor C
21 %*12 %*
Distributor D
*14 %*11 %

Revenues by Geographic Area
Revenues for the three and nine months ended September 30, 2026 and 2025 were attributable to the following regions:
Three Months Ended September 30,Nine Months Ended September 30,
Region2026202520262025
Hong Kong65 %54 %72 %57 %
United States25 7 18 9 
Rest of Asia7 25 7 21 
China— 10 1 10 
Europe3 4 2 3 
Total100 %100 %100 %100 %
Concentration of Credit Risk
The following customers represented 10% or more of the Company’s accounts receivable (in thousands).

CustomerSeptember 30, 2026December 31, 2025
Distributor A$1,875 33 %$860 26 %
Distributor C
1,692 29 %**
Distributor E
786 14 %607 18 %
Distributor D**42813 %
Distributor F**38612 %
* Customer revenues or accounts receivable represented less than 10% of total revenues or accounts receivable.