RELATED PARTY TRANSACTIONS |
3 Months Ended |
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Mar. 31, 2025 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS | RELATED PARTY TRANSACTIONS The Company defines related parties as directors, executive officers, nominees for director, stockholders that have significant influence over the Company, or are a greater than 10% beneficial owner of the Company’s capital and their affiliates or immediate family members. Transchip Technology (Nanjing) Co., Ltd. (Transchip), an equity method investee of the Company, is also deemed as a related party. On November 15, 2024, the Company entered into a design services licensing collaboration agreement with Transchip. This arrangement gives Transchip a non-exclusive license right to make design house offerings using certain of the Company's products. The Company retains the manufacturing and royalty related rights in relation to the Company’s products used in the design house offerings. The Company recognized accounts receivable of $0.7 million as of March 31, 2025 under this arrangement. Revenue related to this arrangement was not material for the three months ended March 31, 2025. In November 2020, the Company entered into a lease agreement with Isabelle Geday, a former member of the board of directors, who resigned from her position as director of the Company effective March 27, 2025. The lease payments were less than $0.1 million for both the three months ended March 31, 2025 and 2024. In addition, the Company signed a consulting agreement with Ms. Geday on December 1, 2021, which was subsequently assigned to Magillem Design Services S.A., effective January 10, 2022. The consulting agreement term concluded in November 2024. Prior to signing the consulting agreement, Ms. Geday was paid as an executive employee of the Company from December 1, 2020 through November 30, 2021. As a consultant, Ms. Geday provided services for an initial three-year term and was eligible to receive $26,445 per month for the first 12 months of the consulting term and $19,445 per month for the remaining 24 months of the consulting term. For the three months ended March 31, 2024, the Company paid Ms. Geday $0.1 million for consulting services. Lastly, in connection with Ms. Geday’s prior employment, the Company granted 62,200 RSUs that fully vested as of March 31, 2025 and 455,000 stock options that fully vested as of December 31, 2024. The Company recognized stock-based compensation expense of less than $0.1 million for both the three months ended March 31, 2025 and 2024, for the stock options and RSUs granted in connection with Ms. Geday’s prior employment.
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