Annual report pursuant to Section 13 and 15(d)

Entity Level Information

v3.24.1
Entity Level Information
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Entity Level Information

NOTE 14 —Entity Level Information

 

Segment Information—The Company operates in one reporting segment.

 

Operating segments are defined as components of an enterprise about which separate financial information is evaluated regularly by the chief operating decision maker, who is the chief operating officer, in deciding how to allocate resources and assessing performance. The Company’s chief operating decision maker allocates resources and assesses performance based upon discrete financial information at the consolidated level.

 

The following table summarizes the revenue by region based on ship-to destinations for the periods ended:

 

    2023     2022  
    For the Years Ended  
    December 31,  
    2023     2022  
United States   $ 33,180     $ 29,444  
Canada and Latin America     10,572       8,975  
Europe and Middle East     4,299       1,202  
Asia Pacific     45,581       30,207  
Total net revenues   $ 93,632     $ 69,828  

 

Long-lived assets located in the United States and Asia Pacific region were $9,365 and $6,861, and $48 and $168 as of December 31, 2023 and 2022, respectively.

 

 

The composition of net revenues is as follows:

 

    2023     2022  
    For the Years Ended  
    December 31,  
    2023     2022  
Product Sales   $ 93,628     $ 69,797  
Services     4       31  
Total net revenues   $ 93,632     $ 69,828  

 

Concentrations of Revenue Risk—The Company’s tablet customer accounted for 48% and 42% of net revenues for 2023 and 2022, respectively. In the fourth quarter of 2023, tablet sales to this customer stopped as the product reached the end of its life cycle. After 2023, there is no longer a significant risk due to the concentration of revenue with this customer. One additional customer accounted for 29% and 25% of net revenues for 2023 and 2022, respectively.