XML 28 R19.htm IDEA: XBRL DOCUMENT v3.23.2
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2023
Accounting Policies [Abstract]  
Schedule of accounts receivable The following table provides a roll-forward of the allowance for credit losses that is deducted from the amortized cost basis of accounts receivable to present the net amount expected to be collected at June 30, 2023:
Balance at January 1, 2023   $ 30,000  
Change in expected credit losses     -  
Write-offs, net of recoveries     -  
Balance at June 30, 2023   $ 30,000  
Schedule of inventory Raw materials, work-in-process, and finished goods are as follows (in thousands):
   June 30,   December 31, 
   2023   2022 
Raw materials  $3,068   $3,177 
Work-in-process   392    414 
Finished goods   211    236 
Ending inventory  $3,671   $3,827 
Schedule of straight-line method based upon estimated useful lives Property and equipment are stated at cost, net of accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method based upon estimated useful lives of the assets as follows:
Computer equipment  3 years 
Furniture and fixtures  5 years 
Equipment  7 years 
Schedule of disaggregated revenues The following tables present the net revenues distribution by geographical area and market for the three and six months ended June 30, 2023 and 2022 (dollars in thousands):
   Three months ended
June 30, 2023
   Three months ended
June 30, 2022
 
   Amount   Percentage   Amount   Percentage 
AMER                
Net revenues from consumer electronics  $508    90%  $365    99%
Net revenues from distributors and other   58    10%   2    1%
   $566    100%  $367    100%
                     
APAC                    
Net revenues from automotive  $332    64%  $308    54%
Net revenues from consumer electronics   173    33%   243    42%
Net revenues from distributors and other   17    3%   23    4%
   $522    100%  $574    100%
                     
EMEA                    
Net revenues from automotive  $112    100%  $166    51%
Net revenues from medical   
-
    -%   72    22%
Net revenues from distributors and other   
-
    -%   88    27%
   $112    100%  $326    100%
   Six months ended June 30, 2023   Six months ended June 30, 2022 
   Amount   Percentage   Amount   Percentage 
AMER                
Net revenues from consumer electronics  $955    92%  $844    98%
Net revenues from distributors and other   82    8%   16    2%
   $1,037    100%  $860    100%
                     
APAC                    
Net revenues from automotive  $689    60%  $664    55%
Net revenues from consumer electronics   431    37%   478    39%
Net revenues from distributors and other   36    3%   73    6%
   $1,156    100%  $1,215    100%
                     
EMEA                    
Net revenues from automotive  $201    77%  $254    49%
Net revenues from medical   34    13%   136    27%
Net revenues from distributors and other   25    10%   120    24%
   $260    100%  $510    100%

 

Schedule of accounts receivable and deferred revenues The following table presents accounts receivable and deferred revenues as of June 30, 2023 and December 31, 2022 (in thousands):
   June 30,
2023
   December 31,
2022
 
Accounts receivable and unbilled revenue, net  $1,301   $1,448 
Contract liabilities (deferred revenues)  $22   $36 
Schedule of activity related to the product warranty liability The following table summarizes the activity related to the product warranty liability (in thousands):
   June 30,
2023
   December 31,
2022
 
Balance at beginning of period  $49   $36 
Provisions for warranty issued   (10)   13 
Balance at end of period  $39   $49 
Schedule of deferred revenues The following table presents our deferred revenues by source (in thousands):
   June 30,
2023
   December 31,
2022
 
Deferred revenues license fees  $13   $20 
Deferred revenues products   8    9 
Deferred revenues non-recurring engineering   1    7 
   $22   $36 
Schedule of weighted-average exchange rates for the consolidated statements of operations Cash flows in foreign currencies have been converted to U.S. Dollars at an approximate weighted-average exchange rate for the respective reporting periods. The weighted-average exchange rates for the condensed consolidated statements of operations were as follows:
   Six months ended
June 30,
 
   2023   2022 
Swedish Krona   10.50    9.59 
Japanese Yen   134.81    123.07 
South Korean Won   1,295.87    1,232.97 
Taiwan Dollar   30.56    28.73 
Schedule of exchange rates for the consolidated balance sheets The exchange rates for the condensed consolidated balance sheets were as follows:
   As of 
   June 30,   December 31, 
   2023   2022 
Swedish Krona   10.78    10.43 
Japanese Yen   144.36    131.12 
South Korean Won   1,318.56    1,261.91 
Taiwan Dollar   31.16    30.66