Revenue

12 Months Ended

Dec. 31, 2023

Revenue.

Revenue

3. Revenue

The Company sells products to its distributors, ODMs and OEMs. The Company also recognizes revenue under licensing, patent, and royalty agreements with some customers. The following table presents the Company’s revenues disaggregated by sales channel (in thousands):

	Year Ended December 31,
	2023		2022
Distributor	$	49,845	$	50,943
Non-distributor		13,920		9,042
Total revenue	$	63,765	$	59,985

The following table presents the Company’s revenues disaggregated by timing of recognition (in thousands):

	Year Ended December 31,
	2023		2022
Point in time	$	54,183	$	56,675
Over time		9,582		3,310
Total revenue	$	63,765	$	59,985

The following table presents the Company’s revenues disaggregated by type (in thousands):

	Year Ended December 31,
	2023		2022
Product sales	$	53,123	$	55,032
Licensing		7,476		1,937
Royalties		862		1,414
Other revenue		2,304		1,602
Total revenue	$	63,765	$	59,985

The Company licenses its intellectual property and is entitled to consideration based on the customer’s sales. The Company makes estimates in instances when the customer reports sales on a lagged basis and actual information is not available timely. The estimates are based on historical trends in the customer’s activity and current market conditions. In the year ended December 31, 2023, the Company recognized less than $0.1 million of royalty revenue related to activity occurring in the year ended December 31, 2022. In the year ended December 31, 2022, the Company recognized $0.3 million of royalty revenue related to activity occurring in the year ended December 31, 2021. This is a change in estimate and is based on actual information received from the customer. The amounts are reported in licensing, royalty, patent and other revenue in the statements of income and comprehensive income.

We recognize revenue by geography based on the region in which our products are sold, and not to where the end products in which they are assembled are shipped. Our revenue by region for the periods indicated was as follows (in thousands):

	Year Ended December 31,
	2023		2022
APAC	$	33,096	$	35,631
North America		15,922		14,533
EMEA		14,747		9,821
Total revenue	$	63,765	$	59,985