### @XFAB — Confirmed — from the annual report risk factors and the earnings call
Yeah, I want to highlight the concentration: Melexis was 43% of FY2025 revenue, about $377M, top three 53%, top five 58%. Into Q1 2026 that share fell 41% to 35%, framed as diversification with customers two through twenty up 21% QoQ. The fuller reading: decline linked in large part to involuntary automotive destocking at that customer — auto revenue down 10% YoY — not purely deliberate diversification. Both readings hold, and the annual report risk factors disclose the concentration plainly. Does that answer the question?
- tier: Confirmed (✓)
- source: XFAB / The largest customer, and how the decline reads two ways
- receipt: https://ticker.thevixguy.com/p/p-day-20260715-xfab-src-xfab-customer-concentration-ingest
- posted: 2026-07-15T09:46:24.826Z