Note 13 - Related Party Transactions |
6 Months Ended |
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Jun. 30, 2026 | |
| Notes to Financial Statements | |
| Related Party Transactions Disclosure [Text Block] |
13. RELATED PARTY TRANSACTIONS
Through May 15, 2026, Advantest Corporation through its wholly-owned subsidiary, Advantest America, Inc. (collectively referred to herein as “Advantest”) was a related party because it owned more than 5% of the Company’s outstanding equity following the purchase by Advantest of 3,306,924 shares of common stock from the Company in July 2020 pursuant to a securities purchase agreement entered into between them, for aggregate gross proceeds to the Company of $65.2 million. On May 15, 2026, as a result of the Offering, Advantest ceased to be a related party. See Note 6, Stockholders’ Equity.
In July 2020, the Company and Advantest also entered into (i) a development agreement for Advantest tools to leverage the Company’s Exensio analytics software; (ii) a commercialization agreement providing for the license to third parties of solutions resulting from the development work; and, (iii) a cloud-based subscription for Exensio analytics software and related services. The Exensio subscription expired in July 2025, while the development and commercialization agreements continue in effect.
Revenue recognized from Advantest during the three and six months ended June 30, 2026, was $0.2 million and $0.7 million, respectively, and during the three and six months ended June 30, 2025, $3.5 million and $7.1 million, respectively. Since it was no longer a related party as of June 30, 2026, there were no accounts receivable and deferred revenue from Advantest as of such date. As of December 31, 2025, accounts receivable from Advantest was not material and deferred revenue amounted to $8.3 million.
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