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Related Party Transactions | 6 Months Ended
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Jun. 30, 2021
Related Party Transactions [Abstract] |
Related Party Transactions | Note 11. Related Party Transactions The Company entered into an agreement with MegaChips, whereby the Company appointed MegaChips as the exclusive sales representative of its products in Japan. The Company sells products through MegaChips to distributors, resellers, or direct customers in Japan. The Company pays MegaChips a fixed percentage of the revenue as sales commission, which is recorded as commission expense and included in sales and marketing in the consolidated statements of operations and comprehensive loss. The Company has also entered into a service and secondment agreement with MegaChips LSI USA Corporation, a wholly owned subsidiary of MegaChips. MegaChips is the largest stockholder of the Company and held approximately 31.5% and 43.7% of the Company’s outstanding common stock as of June 30, 2021 and December 31, 2020, respectively. In May 2021, the Company signed a consulting agreement with Akira Takata, a member of the Board of Directors of the Company. As a consultant, Mr. Takata will provide sales consulting services through December 31, 2021, for which he will receive monthly cash fees of $5,000, reimbursement of expenses, and an equity award of 500 RSUs that vest on November 20, 2021. The following is a summary of significant balances, transactions and payments with the related parties and affiliates.
|  | As of |
Balances |  | June 30, 2021 |  |  | December 31, 2020 |
|  | (in thousands) |
MegaChips |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 2,411 |  |  | $ | 736 |
Property and equipment, net |  |  | — |  |  |  | 209 |
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
Transactions |  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
|  | (in thousands) |
MegaChips |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales through distribution agreement |  | $ | 4,415 |  |  | $ | 1,584 |  |  | $ | 6,270 |  |  | $ | 2,730 |
License expense |  |  | — |  |  |  | 80 |  |  |  | — |  |  |  | 148 |
Commission expense |  |  | 184 |  |  |  | 65 |  |  |  | 261 |  |  |  | 112 |
Affiliates |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consulting fees |  |  | 38 |  |  |  | 58 |  |  |  | 125 |  |  |  | 175 |
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
Payments |  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
|  | (in thousands) |  |  | (in thousands) |
MegaChips |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash paid for commissions |  | $ | 184 |  |  | $ | 65 |  |  | $ | 261 |  |  | $ | 112 |
Cash paid for licenses |  |  | — |  |  |  | 8 |  |  |  | — |  |  |  | 25 |
Affiliates |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash paid for consulting fees |  |  | 38 |  |  |  | 58 |  |  |  | 125 |  |  |  | 175 |

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864 + Details
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