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 31.8% and 43.7% of the Company’s outstanding common stock as of March 31, 2021 and December 31, 2020, respectively.

The following is a summary of significant balances, transactions and payments with the related parties and affiliates.

	As of
	March 31, 2021		December 31, 2020
	(in thousands)
MegaChips
Accounts receivable	$	976	$	736
Property and equipment, net		—		209

	Three Months Ended March 31,
	2021		2020
	(in thousands)
MegaChips
Sales through distribution agreement	$	1,855	$	1,146
License expense		—		68
Commission expense		77		47
Affiliates
Consulting fees		87		117

	Three Months Ended March 31,
	2021		2020
	(in thousands)
MegaChips
Cash paid for commissions	$	77	$	47
Cash paid for licenses		—		17
Affiliates
Cash paid for consulting fees		87		117