Related Party Transactions

3 Months Ended

Jun. 30, 2021

Related Party Transactions [Abstract]

Related Party Transactions

Related Party Transactions                                                                                                                                                                                                                                                                                        

During the three months ended June 30, 2021, the Company entered into the following related party transactions:

•Recorded $641 thousand in cost of goods sold for services, recorded $224 thousand in research and development expense and incurred $(16) thousand for employees and related benefits from the AFSW joint venture;

•Sold $18 thousand of products to non-controlling stockholders of the Company and incurred $50 thousand of license maintenance fee from a non-controlling stockholder of the Company;

•Recorded $334 thousand in revenue per a cooperation and development agreement with Yaskawa, and

•Recorded $476 thousand in license fee income, recorded $38 thousand of reimbursements in license maintenance fee, recorded $166 thousand in interest expense, and sold $197 thousand of products to a stockholder and noteholder of the Company. See Note 2 - Nexperia Arrangement.

As of June 30, 2021, total due from related parties was $16.8 million, consisting of $15.6 million due from the AFSW joint venture, $5 thousand accounts receivable from non-controlling stockholders of the Company, $750 thousand other receivable from Yaskawa, and $490 thousand accounts receivable from a stockholder and noteholder of the Company. As of June 30, 2021, total accounts payable to related parties was $763 thousand to the AFSW joint venture and $42 thousand to Nexperia, and deferred revenue to Yaskawa was $750 thousand.

During the three months ended June 30, 2020, the Company entered into the following related party transactions:

•Recorded $56 thousand in cost of goods sold for services, recorded research and development expense of $408 thousand, of which $231 thousand was reimbursable, and recorded $15 thousand in payroll related costs from the AFSW joint venture;

•Sold $27 thousand of products to non-controlling stockholders of the Company and incurred $50 thousand of license maintenance fee from a non-controlling stockholder of the Company; and

•Recorded $5.1 million in license fee income, recorded $38 thousand of reimbursements in license maintenance fee, recorded $151 thousand in interest expense, recorded $231 thousand reimbursement for research and development, and sold $359 thousand of products to a stockholder and noteholder of the Company. See Note 2 - Nexperia Arrangement.

As of March 31, 2021, total due from related parties was $14.1 million, consisting of $13.5 million due from the AFSW joint venture, $5 thousand accounts receivable from non-controlling stockholders of the Company, and $503 thousand accounts receivable from a stockholder and noteholder of the Company. As of March 31, 2021, total accounts payable to related parties was $370 thousand to the AFSW joint venture and $11 thousand to Nexperia, and accrued royalty was $4 thousand to Furukawa.