Quarterly report pursuant to Section 13 or 15(d)

Entity Level Information

v3.24.2.u1
Entity Level Information
6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Entity Level Information

NOTE 11 — 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:

 

Schedule of Revenue by Region 

    2024     2023     2024     2023  
    Three Months Ended     Six Months Ended  
    June 30,     June 30,  
    2024     2023     2024     2023  
United States   $ 9,066     $ 8,236     $ 16,332     $ 13,386  
Asia Pacific     70       14,738       7,733       30,565  
Canada     2,378       3,032       4,184       5,772  
Europe and Middle East     2       829       43       2,913  
Net revenues   $ 11,516     $ 26,835     $ 28,292     $ 52,636  

 

The following table summarizes the composition of net revenues:

 

Schedule of Composition of Revenue 

    2024     2023     2024     2023  
    Three Months Ended     Six Months Ended  
    June 30,     June 30,  
    2024     2023     2024     2023  
Product Sales   $ 11,512     $ 26,834     $ 28,285     $ 52,635  
Services     4       1       7       1  
Net revenues   $ 11,516     $ 26,835     $ 28,292     $ 52,636  

 

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

 

Schedule of Percentage of Total Revenues 

    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
    2024     2023     2024     2023  
Customer A     55 %     35 %     41 %     25 %
Customer B     -*       -*       27 %     -*  
Customer C     13 %     -*       10 %     -*  
Customer D     -*       55 %     -*       57 %

 

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