v3.26.1
Related Parties
 6 Months Ended
Jun. 30, 2026
Related Party Transactions [Abstract]  
Related Parties

NOTE 13 – Related Parties

We conduct business with the following related parties: Keylink International (B.V.I.) Inc. and its subsidiaries and affiliates (“Keylink”), Nuvoton Technology Corporation (“Nuvoton”), Jiyuan Crystal Photoelectric Frequency Technology Ltd. (“JCP”), Atlas Magnetics, Co. (“Atlas”), and ATX Semiconductor SDN (“ATX”).

Keylink is a 5% joint venture partner in our Shanghai assembly and test facilities. We sell products to, and purchase inventory from, companies owned by Keylink. In addition, our subsidiaries in China lease their manufacturing facilities in Shanghai from, and subcontract a portion of our manufacturing process (metal plating and environmental services) to Keylink. We also pay a consulting fee to Keylink.

Warren Chen, a member of the Company’s board of directors, serves as a member of the Nuvoton board of directors. In the six months ended June 30, 2026, we purchased approximately $1.4 million of wafers from Nuvoton under an agreement that ended in the second quarter of 2026. We consider our relationship with Nuvoton to be mutually beneficial, and plan to continue our strategic alliance with Nuvoton.

JCP is a frequency control product manufacturing company from which we purchase material and in which we have made an equity investment that we account for using the equity method of accounting.

Atlas is an early stage privately held fabless wafer design company in which the Company holds a majority interest. The Company determined that Atlas is a variable interest entity (“VIE”), and the Company does not have the power to direct the activities that most significantly impact Atlas. The Company has therefore determined that the Company is not the primary beneficiary. Consequently, we do not consolidate the assets and liabilities of Atlas in the Company’s financial statements. For additional information related to Atlas see Note 14 - Equity Investments - Unconsolidated VIE, below.

In June 2025, the Company entered into a Joint Venture Agreement to acquire a 43% interest and joint control of ATX, a Malaysian private limited liability company, with the purpose of building synergies related to testing and packaging. ATX is a related party for the Company.

The table below sets forth the revenues and expenses with our related parties:

Three Months Ended

 

 

Six Months Ended

 

 

June 30,

 

 

June 30,

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Keylink:

 

 

 

 

 

 

 

 

 

 

 

Net sales

$

(33

)

 

$

(101

)

 

$

9

 

 

$

27

 

Purchases

$

242

 

 

$

62

 

 

$

465

 

 

$

199

 

Plating, rental, and consulting expense

$

3,859

 

 

$

3,307

 

 

$

7,477

 

 

$

6,528

 

Nuvoton:

 

 

 

 

 

 

 

 

 

 

 

Net sales

$

10

 

 

$

29

 

 

$

26

 

 

$

53

 

Purchases

$

3,678

 

 

$

1,278

 

 

$

5,263

 

 

$

2,343

 

JCP:

 

 

 

 

 

 

 

 

 

 

 

Purchases

$

-

 

 

$

29

 

 

$

-

 

 

$

105

 

Atlas:

 

 

 

 

 

 

 

 

 

 

 

Purchases

$

2,072

 

 

$

3,694

 

 

$

4,353

 

 

$

6,738

 

ATX:

 

 

 

 

 

 

 

 

 

 

 

Purchases

$

202

 

 

$

-

 

 

$

296

 

 

$

-

 

The table below sets forth accounts receivable from, and accounts payable to, our related parties:

 

June 30, 2026

 

 

December 31, 2025

 

Keylink:

 

 

 

 

 

Accounts receivable

$

38,087

 

 

$

25,415

 

Accounts payable

$

31,847

 

 

$

27,837

 

Nuvoton:

 

 

 

 

 

Accounts receivable

$

10

 

 

$

9

 

Accounts payable

$

2,599

 

 

$

1,131

 

Atlas:

 

 

 

 

 

Accounts payable

$

325

 

 

$

721

 

ATX:

 

 

 

 

 

Accounts payable

$

90

 

 

$

12