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Note 5 - Balance Sheet Components - Other Current Assets (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Prepaid wafer purchases [1] $ 60,000 $ 0
Prepaid expenses 31,379 28,964
RSU tax withholding proceeds receivable 54 20,141
Other receivables [1] 0 50,000
Restricted cash [2],[3] 0 33,204
Other 17,021 15,154
Total $ 108,454 $ 147,463
[1] The Company held $60 million in prepaid wafer purchases as of September 30, 2024 related to deposits made to a supplier under a long-term wafer supply agreement. The Company held $50 million in other receivables as of December 31, 2023 associated with those deposits. See Note 9 for details about the supply agreement.
[2] The restricted cash included in other current assets as of December 31, 2023 was related to preliminary purchase consideration held in a trust account in connection with the Company’s acquisition of Axign and was paid in January 2024.
[3] The restricted cash included in other current assets as of December 31, 2023 was related to preliminary purchase consideration held in a trust account in connection with the Company’s acquisition of Axign and was paid in January 2024. See Note 4 for further details.