Quarterly report pursuant to Section 13 or 15(d)

Entity Level Information

v3.24.1.1.u2
Entity Level Information
3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Entity Level Information

NOTE 10 — Entity Level 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 executive officer and the chief financial 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 net revenues by region based on ship-to destinations:

 

    2024     2023  
    Three Months Ended  
    March 31,  
    2024     2023  
United States   $ 7,266     $ 5,506  
Asia Pacific     7,663       15,471  
Canada     1,806       2,740  
Europe and Middle East     41       2,084  
Net revenues   $ 16,776     $ 25,801  

 

The following table summarizes the composition of net revenues:

 

    2024     2023  
    Three Months Ended  
    March 31,  
    2024     2023  
Product Sales   $ 16,773     $ 25,801  
Services     3        
Net Revenues   $ 16,776     $ 25,801  

 

Revenue from customers with concentration greater than 10% accounted for approximately the following percentage of net revenues:

 

    Three Months Ended
March 31,
 
    2024     2023  
Customer A     46 %     -*  
Customer B     31 %     18 %
Customer C     -*       59 %

 

* Customer revenue did not exceed 10% in the respective period.