SiTime (SITM) 10-Q4 Nov 222022 Q3 Quarterly reportFinancial data

Company Profile

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 30, 2022	Oct. 28, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Registrant Name	SiTime Corporation
Entity Central Index Key	0001451809
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock Shares Outstanding		21,439,491
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	SITM
Security Exchange Name	NASDAQ
Entity File Number	001-39135
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	02-0713868
Entity Address, Address Line One	5451 Patrick Henry Drive
Entity Address, City or Town	Santa Clara
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95054
City Area Code	408
Local Phone Number	328-4400
Document Quarterly Report	true
Document Transition Report	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 41,608	$ 559,461
Short-term investments in held-to-maturity securities	522,178
Accounts receivable, net	44,896	38,376
Inventories	45,385	23,630
Prepaid expenses and other current assets	8,141	4,476
Total current assets	662,208	625,943
Property and equipment, net	56,114	37,902
Intangible assets, net	4,731	5,977
Right-of-use assets, net	11,122	8,194
Other assets	3,879	193
Total assets	738,054	678,209
Current liabilities:
Accounts payable	16,552	13,103
Accrued expenses and other current liabilities	18,452	24,282
Total current liabilities	35,004	37,385
Lease liabilities	8,535	6,398
Other non-current liabilities	73	1,929
Total liabilities	43,612	45,712
Commitments and contingencies (Note 9)
Stockholders’ equity:
Common stock, $0.0001 par value - 200,000 shares authorized; 21,436 and 20,825 shares issued and outstanding at September 30, 2022 and December 31, 2021	2	2
Additional paid-in capital	700,777	663,614
Accumulated deficit	(6,337)	(31,119)
Total stockholders’ equity	694,442	632,497
Total liabilities and stockholders’ equity	$ 738,054	$ 678,209

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares, issued	21,436,000	20,825,000
Common stock, shares, outstanding	21,436,000	20,825,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenue	$ 73,095	$ 63,029	$ 222,766	$ 143,067
Cost of revenue	25,799	21,334	77,563	55,727
Gross profit	47,296	41,695	145,203	87,340
Operating expenses:
Research and development	23,878	13,005	66,490	36,252
Selling, general and administrative	19,886	14,616	56,839	38,425
Total operating expenses	43,764	27,621	123,329	74,677
Income from operations	3,532	14,074	21,874	12,663
Interest income	2,492		3,295
Other expense	(238)	(110)	(264)	(178)
Income before income taxes	5,786	13,964	24,905	12,485
Income tax expense	(3)	(4)	(123)	(67)
Net income	5,783	13,960	24,782	12,418
Net income attributable to common stockholders and comprehensive income	$ 5,783	$ 13,960	$ 24,782	$ 12,418
Net income per share attributable to common stockholders, basic	$ 0.27	$ 0.73	$ 1.17	$ 0.67
Net income per share attributable to common stockholders, diluted	$ 0.26	$ 0.66	$ 1.09	$ 0.60
Weighted-average shares used to compute basic net income per share	21,353	19,149	21,143	18,658
Weighted-average shares used to compute diluted net income per share	22,614	21,252	22,688	20,770

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	At-The-Market Offering	Follow-on Public Offering	Common Stock	Common Stock At-The-Market Offering	Common Stock Follow-on Public Offering	Additional Paid-in Capital	Additional Paid-in Capital At-The-Market Offering	Additional Paid-in Capital Follow-on Public Offering	Accumulated Deficit
Beginning Balance at Dec. 31, 2020	$ 109,880			$ 2			$ 173,274			$ (63,396)
Beginning Balance, Shares at Dec. 31, 2020				17,150,000
Stock-based compensation expense	22,111						22,111
Net income	12,418									12,418
Issuance of common stock net of underwriting discounts and commissions and other offering costs			$ 181,588						$ 181,588
Issuance of common stock net of underwriting discounts and commissions and other offerings costs, Shares						1,500,000
Issuance of shares upon vesting of restricted stock units, net of tax withholdings, Shares				604,000
Ending Balance at Sep. 30, 2021	325,997			$ 2			376,973			(50,978)
Ending Balance, Shares at Sep. 30, 2021				19,254,000
Beginning Balance at Jun. 30, 2021	303,926			$ 2			368,862			(64,938)
Beginning Balance, Shares at Jun. 30, 2021				19,061,000
Stock-based compensation expense	8,111						8,111
Net income	13,960									13,960
Issuance of shares upon vesting of restricted stock units, net of tax withholdings, Shares				193,000
Ending Balance at Sep. 30, 2021	325,997			$ 2			376,973			(50,978)
Ending Balance, Shares at Sep. 30, 2021				19,254,000
Beginning Balance at Dec. 31, 2021	$ 632,497			$ 2			663,614			(31,119)
Beginning Balance, Shares at Dec. 31, 2021	20,825,000			20,825,000
Stock-based compensation expense	$ 42,051						42,051
Net income	24,782									24,782
Issuance of common stock net of underwriting discounts and commissions and other offering costs		$ 22,998						$ 22,998
Issuance of common stock net of underwriting discounts and commissions and other offerings costs, Shares					125,000
Issuance of shares upon vesting of restricted stock units, net of tax withholdings	(27,886)						(27,886)
Issuance of shares upon vesting of restricted stock units, net of tax withholdings, Shares				486,000
Ending Balance at Sep. 30, 2022	$ 694,442			$ 2			700,777			(6,337)
Ending Balance, Shares at Sep. 30, 2022	21,436,000			21,436,000
Beginning Balance at Jun. 30, 2022	$ 680,284			$ 2			692,402			(12,120)
Beginning Balance, Shares at Jun. 30, 2022				21,286,000
Stock-based compensation expense	16,400						16,400
Net income	5,783									5,783
Issuance of common stock net of underwriting discounts and commissions and other offering costs		$ 2,919						$ 2,919
Issuance of common stock net of underwriting discounts and commissions and other offerings costs, Shares					25,000
Issuance of shares upon vesting of restricted stock units, net of tax withholdings	(10,944)						(10,944)
Issuance of shares upon vesting of restricted stock units, net of tax withholdings, Shares				125,000
Ending Balance at Sep. 30, 2022	$ 694,442			$ 2			$ 700,777			$ (6,337)
Ending Balance, Shares at Sep. 30, 2022	21,436,000			21,436,000

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net income	$ 24,782	$ 12,418
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization expense	8,497	5,554
Stock-based compensation expense	41,795	21,537
Non-cash interest	(2,241)
Changes in assets and liabilities:
Accounts receivable, net	(6,520)	(8,546)
Related party accounts receivable		731
Inventories	(21,755)	(7,284)
Prepaid expenses and other assets	(949)	(1,257)
Accounts payable	(2,729)	3,204
Accrued expenses and other liabilities	(5,935)	8,056
Net cash provided by operating activities	34,945	34,413
Cash flows from investing activities
Purchase of held to maturity securities	(519,937)
Purchase of property and equipment	(25,004)	(20,067)
Cash paid for intangibles	(2,969)	(2,417)
Net cash used in investing activities	(547,910)	(22,484)
Cash flows from financing activities
Tax withholding paid on behalf of employees for net share settlement	(27,886)
Proceeds from public offering	23,685	181,928
Payments for offering costs	(687)	(340)
Net cash provided by (used in) financing activities	(4,888)	181,588
Net increase (decrease) in cash and cash equivalents	(517,853)	193,517
Cash and cash equivalents
Beginning of period	559,461	73,525
End of period	41,608	267,042
Supplemental disclosure of cash flow information
Income taxes paid	40	1
Supplemental disclosure of noncash flow information
Unpaid property and equipment	1,830	3,928
Unpaid intangibles, net	443	1,615
Right-of-use assets acquired under operating leases	$ 4,599	$ 529

The Company and Basis of Presen

The Company and Basis of Presentation	9 Months Ended
The Company and Basis of Presentation	Sep. 30, 2022
Accounting Policies [Abstract]
The Company and Basis of Presentation	Note 1. The Company and Basis of Presentation SiTime Corporation (the “Company”) was incorporated in the State of Delaware in December 2003. The Company is a provider of precision timing solutions. The Company primarily supplies oscillator products that comprise a MEMS resonator and clock IC that is integrated into a package, as well as standalone resonators. The Company has also started to sample clock ICs. The Company’s products are designed to address a wide range of applications across a broad array of end markets. The Company operates a fabless business model and leverages its global network of distributors to address the broad set of end markets that it serves. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments of a normal, recurring nature, which are necessary to state fairly the financial information included therein. These financial statements should be read in conjunction with the audited consolidated financial statements and related notes thereto included in SiTime Corporation's Annual Report on Form 10-K for the fiscal year ended December 31, 2021. The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. Certain prior year amounts have been reclassified to conform to the current year presentation. Coronavirus Disease (“the COVID-19 pandemic”) The COVID-19 pandemic has continued to impact the Company's workforce and the operations of its customers and suppliers during 2022. In response to the ongoing COVID-19 pandemic and related government measures, the Company implemented safety measures to protect its employees and contractors at its locations around the world. As the COVID-19 pandemic continues, the timing and overall demand of the Company's products and availability of supply chain may negatively and materially impact the Company's business operations and financial results. To date, the Company has experienced minimal impact from any supplier disruption resulting from the COVID-19 pandemic, however, due to the changing nature and continuing uncertainty around the COVID-19 pandemic, the Company's ability to predict the impact of the COVID-19 pandemic on its business and financial results in future periods remains limited. The Company continues to actively monitor the effects and potential impacts of the COVID-19 pandemic on its business and may take further actions altering its business operations that it determines to be in the best interests of its employees, customers, partners, suppliers, and stakeholders, or as required by federal, state, or local authorities. It is not clear what the potential effects any such alterations or modifications may have on the Company's business, including the effects on its customers, employees, operations, and prospects, or on the financial results for 2022 and beyond. Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Significant Accounting Policies The Company’s significant accounting policies are disclosed in the Company’s audited consolidated financial statements and related notes thereto included in the Annual Report on Form 10-K for the year ended December 31, 2021. There has been no changes to these accounting policies through September 30, 2022. Recent Accounting Pronouncements There are no new accounting pronouncements that are pending to be adopted by the Company.

Net Income Per Share

Net Income Per Share	9 Months Ended
Net Income Per Share	Sep. 30, 2022
Earnings Per Share [Abstract]
Net Income Per Share	Note 2. Net Income Per Share The following table summarizes the computation of basic and diluted net income per share attributable to common stockholders of the Company: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (in thousands, except per share data) Net income attributable to common stockholders $ 5,783 $ 13,960 $ 24,782 $ 12,418 Weighted-average shares outstanding Weighted average shares used to compute basic net income per share 21,353 19,149 21,143 18,658 Dilutive effect of employee equity incentive plans 1,261 2,103 1,545 2,112 Weighted average shares used to compute diluted net income per share 22,614 21,252 22,688 20,770 Net income attributable to common stockholders per share, basic $ 0.27 $ 0.73 $ 1.17 $ 0.67 Net income attributable to common stockholders per share, diluted $ 0.26 $ 0.66 $ 1.09 $ 0.60 Potential dilutive securities include dilutive common shares from share-based awards attributable to the assumed exercise of restricted stock unit awards using the treasury stock method. Under the treasury stock method, potential common shares outstanding are not included in the computation of diluted net income per share if their effect is anti-dilutive. Anti-dilutive potential shares from share-based awards are excluded from the calculation of diluted earnings per share if either their exercise price exceeded the average market price during the period or the share-based awards were determined to be anti-dilutive based on applying the treasury stock method. During the three months ended September 30, 2022 and 2021 , the Company had 365,102 potential shares and no potential shares from share-based awards that are anti-dilutive, respectively. During the nine months ended September 30, 2022 and 2021 , the Company had 265,235 and 5,350 potential shares from share-based awards that are anti-dilutive, respectively.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 3. Fair Value Measurements The carrying amounts of the Company’s financial instruments, which include cash equivalents, short-term investments and accounts receivable, accounts payable, accrued liabilities, and other current liabilities, approximate their fair values due to their short maturities. Cash and cash equivalents On September 30, 2022 and December 31, 2021, cash balances in bank checking and savings accounts of $ 35.3 million and $ 339.3 million, respectively, were valued using Level 1 of the fair value hierarchy. On September 30, 2022 and December 31, 2021, highly liquid money market funds and treasury bills of $ 6.3 million and $ 220.2 million, respectively, were valued using Level 1 of the fair value hierarchy, quoted prices in active markets for identical assets, and are included in cash equivalents. Short-term investments in held-to-maturity securities As of September 30, 2022 the Company had entered into treasury bills with maturities ranging from 3 to 6 months, which the Company intends to hold until maturity and have classified as held-to-maturity securities. The held-to-maturity securities are recorded at amortized cost totaling $ 520.0 million with gross unrealized gains of $ 2.2 million and net carrying value of $ 522.2 million. The carrying value of our investments is reviewed quarterly for changes in circumstances or the occurrence of events that suggests an investment may not be fully recoverable. These treasury bills were valued using Level 1 of the fair value hierarchy, quoted prices in active markets for identical assets, and are included in short-term investments.

Balance Sheets Components

Balance Sheets Components	9 Months Ended
Balance Sheets Components	Sep. 30, 2022
Balance Sheet Related Disclosures [Abstract]
Balance Sheets Components	Note 4. Balance Sheet Components Accounts Receivable, net Accounts receivable, net consisted of the following: As of September 30, 2022 December 31, 2021 (in thousands) Accounts receivable, gross $ 44,946 $ 38,426 Allowance for credit losses ( 50 ) ( 50 ) Accounts receivable, net $ 44,896 $ 38,376 Inventories Inventories consisted of the following: As of September 30, 2022 December 31, 2021 (in thousands) Raw materials $ 5,940 $ 1,841 Work in progress 31,914 16,963 Finished goods 7,531 4,826 Total inventories $ 45,385 $ 23,630 Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following: As of September 30, 2022 December 31, 2021 (in thousands) Prepaid expenses $ 3,697 $ 2,398 Other current assets 4,444 2,078 Total prepaid expenses and other current assets $ 8,141 $ 4,476 Property and Equipment, Net Property and equipment, net consisted of the following: As of September 30, 2022 December 31, 2021 (in thousands) Lab and manufacturing equipment $ 66,476 $ 44,283 Computer equipment 2,960 1,977 Furniture and fixtures 497 433 Construction in progress 7,734 7,100 Leasehold improvements 6,609 5,211 84,276 59,004 Accumulated depreciation ( 28,162 ) ( 21,102 ) Total property and equipment, net $ 56,114 $ 37,902 Depreciation expense related to property and equipment was $ 2.7 million and $ 0.7 million for the three months ended September 30, 2022 and 2021, respectively, and $ 7.2 million and $ 1.9 million for the nine months ended September 30, 2022 and 2021, respectively. Intangible Assets, Net Intangible assets, net consisted of the following: As of September 30, 2022 December 31, 2021 (in thousands) Gross Assets Accumulated Amortization Net Assets Gross Assets Accumulated Amortization Net Assets Internal use software $ 9,434 $ ( 8,732 ) $ 702 $ 9,434 $ ( 8,633 ) $ 801 Purchased software 11,659 ( 7,630 ) 4,029 11,703 ( 6,527 ) 5,176 Intangible assets $ 21,093 $ ( 16,362 ) $ 4,731 $ 21,137 $ ( 15,160 ) $ 5,977 Amortization expense for intangible assets was $ 0.5 million and $ 0.5 million for the three months ended September 30, 2022 and 2021, respectively, and $ 1.3 million and $ 1.6 million for the nine months ended September 30, 2022 and 2021, respectively. The estimated aggregate future amortization expense for intangible assets subject to amortization as of September 30, 2022 is summarized as below: (in thousands) 2022 (remainder) $ 710 2023 2,115 2024 1,420 2025 426 2026 and beyond 60 $ 4,731 Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following: As of September 30, 2022 December 31, 2021 (in thousands) Accrued payroll and related benefits $ 5,040 $ 7,237 Revenue reserves 2,990 2,194 Deferred non-recurring engineering services 2,092 5,666 Short term lease liability 2,303 1,336 Accrued customer rebates 63 3,107 Other accrued expenses 5,964 4,742 Total accrued expenses and other current liabilities $ 18,452 $ 24,282 The Company recorded reduction of research and development expenses related to non-recurring engineering service arrangements in the condensed consolidated statement of operations of $ 2.9 million and $ 0.9 million during the three months ended September 30, 2022 and 2021 , respectively, and $ 7.7 million and $ 1.0 million during the nine months ended September 30, 2022 and 2021, respectively. Through June 30, 2022, the Company had recorded $ 2.7 million of accrued customer rebates as contra revenue under a customer agreement. In July 2022, the Company entered into an agreement with the customer to waive the accrued customer rebate balance as of June 30, 2022. During the three months ended September 30, 2022, the Company recognized the waiver of $ 2.7 million of accrued customer rebate as revenue.

Leases

Leases	9 Months Ended
Leases	Sep. 30, 2022
Leases [Abstract]
Leases	Note 5. Leases The Company leases real estate property under operating leases. The Company leases office space in California, Michigan, Malaysia, Japan, Taiwan, the Netherlands, and Ukraine all under non-cancellable operating leases with various expiration dates through April 2027 . In January 2021, the Company signed an amendment to its Santa Clara, California office space lease where the lessor provided the Company lease incentives of $ 0.4 million and extended the term of the lease by three months . The amendment was accounted as a single modified lease and the remaining payments were remeasured using an updated discount rate. During the nine months ended September 30, 2022 , the Company commenced seven operating leases with 2 to 7 year lease terms, and recorded right-of-use assets of $ 4.9 million, current lease liabilities of $ 1.0 million, and long-term lease liabilities of $ 4.1 million upon the commencement of these leases. The remaining lease terms vary from a few months to 7 years . For certain of its leases the Company has options to extend the lease term for periods varying from one to five years . These renewal options are not considered in the remaining lease term unless it is reasonably certain that the Company will exercise such options. The Company also has variable lease payments that are primarily comprised of common area maintenance and utility charges. The table below presents the lease-related assets and liabilities recorded on the consolidated balance sheet as of September 30, 2022: As of September 30, 2022 December 31, 2021 (in thousands) Right-of-use assets $ 11,122 $ 8,194 Lease liabilities included in accrued expenses and other current liabilities 2,303 1,336 Lease liabilities - non-current 8,535 6,398 Total operating lease liabilities $ 10,838 $ 7,734 Weighted-average remaining lease term (years) 4.4 5.0 Weighted-average discount rate 4.4 % 4.5 % The table below presents certain information related to the lease costs for operating leases for the three and nine months ended September 30, 2022 and 2021: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (in thousands) Operating lease cost $ 710 $ 396 $ 1,970 $ 1,278 Short-term lease cost 381 86 1,213 313 Variable lease cost 212 34 566 199 Total lease cost $ 1,303 $ 516 $ 3,749 $ 1,790 Cash paid for operating lease liabilities was $ 1.8 million and $ 1.5 million for the nine months ended September 30, 2022 and 2021, respectively. Operating Lease Cash Flows The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the operating lease liabilities recorded on the consolidated balance sheet as of September 30, 2022: (in thousands) Remainder of 2022 $ 546 2023 2,948 2024 2,904 2025 2,575 2026 2,143 2027 and beyond 831 Total minimum lease payments 11,947 Less: amount of lease payments representing interest ( 1,109 ) Present value of future minimum lease payments 10,838 Less: current obligations under leases ( 2,303 ) Long-term lease liabilities $ 8,535 During the three months ended September 30, 2022 , the Company entered into an operating lease that commences in November 2022 with a three year term, for which the Company expects to record right-of-use asset of approximately $ 0.2 million and lease liability of approximately $ 0.2 million at the commencement of the lease.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
Stockholders' Equity	Sep. 30, 2022
Equity [Abstract]
Stockholders' Equity	Note 6. Stockholders’ Equity Follow-on public offerings On February 22, 2021, the Company completed a follow-on public offering, in which it issued and sold 1,500,000 shares of its common stock, resulting in net proceeds to the Company of $ 181.6 million after deducting underwriting discounts and commissions of $ 8.6 million and deferred offering costs of $ 0.3 million. On November 10, 2021 the Company completed a follow-on public offering, in which it issued and sold 1,300,000 shares of its common stock , resulting in net proceeds to the Company of $ 279.0 million after deducting underwriting discounts and commissions of $ 13.2 million and deferred offering costs of $ 0.3 million. At-The-Market offering On May 4, 2022, the Company entered into a Sales Agreement ("Sales Agreement"), with Stifel, Nicolaus & Company, Incorporated ("Stifel"), under which the Company may offer and sell from time to time at its sole discretion, up to an aggregate of 800,000 shares of its common stock, par value $ 0.0001 per share, through Stifel as its sales agent. The Company intends to use the net proceeds from the shares of common stock offered and sold to primarily replenish funds expended to satisfy anticipated tax withholding and remittance obligations related to the net settlement upon vesting of restricted stock unit awards (“RSU”) granted to employees under the equity incentive plans. The Company has filed a prospectus supplement pursuant to the Sales Agreement for the offer and sale of up to an aggregate of 800,000 shares of its common stock. Subject to the terms and conditions of the Sales Agreement, Stifel will sell the common stock from time to time, based upon instructions from the Company. The Company agreed to pay Stifel a commission of up to 3 % of the gross sales proceeds of any common stock sold through Stifel under the Sales Agreement. During the three months ended September 30, 2022 , the Company sold 25,334 shares of its common stock to Stifel under the Sales Agreement at a weighted average price of $ 122.09 per share resulting in net proceeds to the Company of $ 2.9 million, after deducting underwriting discounts and commissions of $ 0.1 million and deferred offering costs of $ 0.1 million. During the nine months ended September 30, 2022 , the Company sold 125,334 shares of its common stock to Stifel under the Sales Agreement at a weighted average price of $ 188.98 per share resulting in net proceeds to the Company of $ 23.0 million, after deducting underwriting discounts and commissions of $ 0.5 million and deferred offering costs of $ 0.6 million. Equity Incentive Plans The following table summarizes the RSU, performance based restricted stock unit awards ("PRSU"), and multi-year performance restricted stock units ("MYPSU") activity for the three and nine months ended September 30, 2022: RSU Grant Date PRSU Grant Date MYPSU Grant Date Number of Fair Value Number of Fair Value Number of Fair Value Shares per share Shares per share Shares per share Unvested at December 31, 2021 2,227,197 $ 40.6 58,954 $ 261.4 — $ - Granted 173,291 232.7 11,202 233.1 311,872 88.6 Vested ( 217,358 ) 45.8 — — — — Forfeited ( 5,352 ) 117.3 — — — — Unvested at March 31, 2022 2,177,778 $ 55.1 70,156 $ 256.9 311,872 $ 88.6 Granted 104,555 217.7 — — — — Vested ( 214,327 ) 45.3 — — — — Forfeited ( 21,962 ) 89.5 — — — — Unvested at June 30, 2022 2,046,044 $ 62.2 70,156 $ 256.9 311,872 $ 88.6 Granted 95,760 179.5 — — — — Vested ( 228,443 ) 44.8 — — — — Forfeited ( 16,913 ) 120.8 — — — — Unvested at September 30, 2022 1,896,448 $ 71.8 70,156 $ 256.9 311,872 $ 88.6 On August 4, 2020, the Compensation Committee of the Company adopted and approved the Executive Bonus and Retention Plan (the “Bonus and Retention Plan”). In each of January and July 2021, the Compensation Committee approved target bonus amounts and performance goals for the first half and second half, respectively, of the fiscal year 2021 (the “2021 Goals”). In January 2022, the Compensation Committee approved target bonus amounts and performance goals for the first half of the fiscal year 2022 (the “1H2022 Goals”), and in August 2022 the Compensation Committee approved target bonus amounts and performance goals for the second half of the fiscal year 2022 (the “2H2022 Goals”) . The 2021 Goals, 1H2022 Goals and the 2H2022 Goals are based on the achievement of revenue and Non-GAAP operating profit, as well as individual performance goals. The awards for the actual payouts are granted in the quarter following the end of the performance period. The target bonuses were granted based on a fixed dollar amount to be settled in RSUs on the vesting date and hence the awards have been classified as liability-based awards until settled. Such expense is included in the non-cash adjustment within stock-based compensation expense on the condensed consolidated cash flow statements. The liability of $ 0.4 million for 2H2022 Goals was recorded as accrued expenses and other current liabilities in the condensed consolidated balance sheet as of September 30, 2022 . Actual payouts for 1H2022 Goals ranged from 113 % to 130 % of target, based on performance. In April 2022, the Company approved a bonus plan for certain employees. The target bonuses are granted based on a fixed dollar amount to be settled in RSUs in the quarter following the end of the performance period. Due to the fixed dollar amount targets, the awards have been classified as liability-based awards until settled. Once settled, these awards are reflected as RSU granted in the above table. Such expense is included in the non-cash adjustment within stock-based compensation expense on the condensed consolidated cash flow statements. The liability of $ 0.8 million was recorded as accrued expenses and other current liabilities in the condensed consolidated balance sheet as of September 30, 2022. In December 2021, the Compensation Committee of the Company approved PRSUs with performance goals for the year 2022 (the “PRSU 2022 Goals”). The PRSU 2022 Goals are based on the achievement of revenue. These grants are included in the PRSU awards granted in the table above. In February 2022, the Compensation Committee of the Company approved and granted to certain of the Company’s executive officers MYPSUs with vesting based on achievement of stock price targets, which are measured based on the 60-trading day average per share closing price of the Company’s common stock on the Nasdaq Global Market during the performance periods of up to six years from the date of grant, subject to the continued service of the grantee through the vest date. The grant-date fair value of each MYPSU was determined using Monte Carlo simulation model. The assumptions used in the Monte Carlo simulation included expected volatility of 44.4 %, risk free rate of 1.83 %, no expected dividend yield, expected term of six years and possible future stock prices over the performance period based on historical stock and market prices. The Company recognizes the expense related to the MYPSUs on a graded-vesting method over the requisite service period. Stock-Based Compensation The following table presents the detail of stock-based compensation expense amounts included in the condensed consolidated statement of operations for each of the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (in thousands) Equity based awards Cost of revenue $ 337 $ 421 $ 1,259 $ 1,233 Research and development 6,934 2,587 16,634 7,695 Selling, general and administrative 7,199 3,763 20,740 10,652 $ 14,470 $ 6,771 $ 38,633 $ 19,580 Liability based awards - to be settled in equity Cost of revenue $ 28 $ 22 $ 91 $ 72 Research and development 663 289 1,550 698 Selling, general and administrative 542 306 1,521 1,187 $ 1,233 $ 617 $ 3,162 $ 1,957 Total stock-based compensation - equity and liability based $ 15,703 $ 7,388 $ 41,795 $ 21,537 Liability-based awards - cash settled Cost of revenue $ — $ — $ — $ 102 Research and development — — — 143 Selling, general and administrative — — — 108 $ — $ — $ — $ 353 Total stock-based compensation expense $ 15,703 $ 7,388 $ 41,795 $ 21,890 Stock-based compensation expense recorded to additional paid-in capital Equity based awards $ 14,470 $ 6,771 $ 38,633 $ 19,580 Liability based awards - settled in equity 1,930 1,340 3,418 2,531 Total stock-based compensation expense recorded to additional paid-in capital $ 16,400 $ 8,111 $ 42,051 $ 22,111 The following table presents the unrecognized compensation costs and related weighted average period of recognition as of September 30, 2022: As of September 30, 2022 Unrecognized Compensation Costs (in millions) Weighted Average Period of Recognition (in years) RSUs $ 121.4 2.9 PRSUs $ - - MYPSUs $ 21.6 1.4 Liability-based awards $ 0.7 0.4

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Note 7. Income Taxes The quarterly provision for income taxes is based on applying the estimated annual effective tax rate to the year to date pre-tax income, plus any discrete items. The Company updates its estimate of its annual effective tax rate at the end of each quarterly period. The estimate takes into account annual forecasted income before income taxes, the geographic mix of income before income taxes and any significant permanent tax items. The following table presents the provision for income taxes and the effective tax rates for the three and nine months ended September 30, 2022 and 2021: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (in thousands) Income before income taxes $ 5,786 $ 13,964 $ 24,905 $ 12,485 Income tax expense ( 3 ) ( 4 ) ( 123 ) ( 67 ) Effective tax rate 0 % 0 % 0 % 1 % The Company’s effective tax rate may vary from the U.S. federal statutory tax rate due to the change in the mix of earnings in tax jurisdictions with different statutory rates, benefits related to tax credits and the tax impact of non-deductible expenses, existence of full valuation allowance on its deferred tax assets, and other permanent differences between income before income taxes and taxable income. A valuation allowance is established or maintained when, based on currently available information and other factors, it is more likely than not that all or a portion of the deferred tax assets will not be realized. The Company regularly assesses its valuation allowance against deferred tax assets on a jurisdiction by jurisdiction basis. The Company considers all available positive and negative evidence, including future reversals of temporary differences, projected future taxable income, tax planning strategies and recent financial results. Based on management’s assessment of the realizability of deferred tax assets, the Company continues to maintain a full valuation reserve on its deferred tax assets as of September 30, 2022. The income tax provision was less than $ 0.1 million for both the three months ended September 30, 2022 and 2021 , and $ 0.1 million for both the nine months ended September 30, 2022 and 2021 . The effective tax rate was less than 1 % for both the three months ended September 30, 2022 and 2021 , and was less than 1 % and 1 % for the nine months ended September 30, 2022 and 2021 , respectively. The provision for income taxes primarily comes from the foreign subsidiaries’ local country obligations. The U.S. effective tax rate is less than 1 % and is due to minimum state tax. There is no federal provision for income taxes because the Company has incurred operating losses since inception and has projected an operating loss in the current year. The Company's tax provision for income taxes for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items, if any. Each quarter, the Company updates its estimate of the annual effective tax rate and makes a year-to-date adjustment to the provision. As of September 30, 2022 and December 31, 2021, the Company had $ 2.4 million and $ 2.4 million, respectively, of total unrecognized tax benefits. If the Company is able to eventually recognize these uncertain tax positions, none of the unrecognized benefit would reduce the Company’s effective tax rate due to the full valuation allowance on the Company’s deferred tax assets. The Company’s policy is to record interest and penalties related to unrecognized tax benefits as income tax expense. For the three and nine months ended September 30, 2022 and 2021 , the Company had immaterial amounts related to the accrual of interest and penalties.

Segment, Geographic and Custome

Segment, Geographic and Customer Information	9 Months Ended
Segment, Geographic and Customer Information	Sep. 30, 2022
Segment Reporting [Abstract]
Segment, Geographic and Customer Information	Note 8. Segment, Geographic and Customer Information The Company operates in one reportable segment related to the design, development, and sale of precision timing solutions. Revenue by geographic area is presented based upon the ship-to location of the original equipment manufacturers, the contract manufacturers, or the distributors who purchased the Company’s products. For sales to the distributors, their geographic location may be different from the geographic locations of the ultimate end customers. The following table sets forth revenue by country for countries with 10% or more of the Company’s revenue during any of the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (in thousands) Taiwan $ 26,730 $ 16,506 $ 74,347 $ 45,008 Hong Kong 16,547 23,063 48,425 52,054 United States 10,157 5,756 26,177 9,691 Other 19,661 17,704 73,817 36,314 Total $ 73,095 $ 63,029 $ 222,766 $ 143,067 Revenue from sales to three of the Company's distributors accounted for 22 %, 18 %, and 15 % of its consolidated revenues for the three months ended September 30, 2022 , and 20 %, 17 %, and 8 % of its consolidated revenues for the three months ended September 30, 2021 . Revenue from sales to the largest end customer through a distributor accounted for 25 % and 20 % for the three months ended September 30, 2022 and 2021 , respectively. The Company's end customers predominantly purchase the Company's products from distributors. No other distributors or customers accounted for 10% or more of the Company's consolidated revenues for the three months ended September 30, 2022 and 2021, respectively. Revenue from sales to three of the Company's distributors accounted for 17 %, 16 %, and 12 % of its consolidated revenues for the nine months ended September 30, 2022, and 22 %, 16 %, and 11 % of its consolidated revenues for the nine months ended September 30, 2021 . Revenue from sales to the largest end customer through a distributor accounted for 19 % and 23 % for the nine months ended September 30, 2022 and 2021 , respectively. No other distributors or customers accounted for 10% or more of the Company's consolidated revenues for the nine months ended September 30, 2022 and 2021, respectively. The following table sets forth the Company’s total property and equipment and intangible assets attributable to operations by country as of the periods presented: As of September 30, 2022 December 31, 2021 United States 48 % 57 % Malaysia 30 % 31 % Taiwan 7 % 5 % Other 15 % 7 %

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 9. Commitments and Contingencies Legal Matters From time to time, the Company may be a party to various litigation claims in the normal course of business. Legal fees and other costs associated with such actions are expensed as incurred. The Company assesses, in conjunction with legal counsel, the need to record a liability for litigation and contingencies. Accrual estimates are recorded when and if it is determined that such a liability for litigation and contingencies are both probable and reasonably estimable. Indemnification The Company is a party to a variety of agreements pursuant to which it may be obligated to indemnify other parties to such agreements with respect to certain matters. Typically, these obligations arise in the context of contracts that the Company has entered into, under which the Company customarily agrees to hold the other party harmless against losses arising from a breach of representations and covenants or terms and conditions related to such matters as the sale and/or delivery of its products, title to assets sold, certain intellectual property claims, defective products, specified environmental matters, and certain income taxes. Further, the Company’s obligations under these agreements may be limited in terms of time, amount, or the scope of its responsibility and in some instances, the Company may have recourse against third-parties for certain payments made under these agreements. It is not possible to predict the maximum potential amount of future payments under these agreements due to the conditional nature of the Company’s obligations and the unique facts and circumstances involved in each particular agreement. Historically, the Company has had no material indemnification claims under these agreements.

Related Party Transactions

Related Party Transactions	9 Months Ended
Related Party Transactions	Sep. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Note 10. Related Party Transactions The Company entered into an agreement with MegaChips Corporation ("MegaChips"), whereby the Company appointed MegaChips as a non-exclusive sales representative of its products in Japan. The Company sold products through MegaChips to distributors, resellers, or direct customers in Japan. The Company paid MegaChips a fixed percentage of the revenue as sales commission, which was recorded as commission expense and included in sales and marketing in the consolidated statements of operations and comprehensive loss. In connection with the Company's efforts to contract directly with distributors in Japan, the Company entered into a termination agreement with MegaChips pursuant to which the Company and MegaChips mutually terminated the Distribution Agreement effective November 3, 2021. The Company also entered into a service and secondment agreement with MegaChips LSI USA Corporation, a wholly owned subsidiary of MegaChips, in 2020 that terminated on August 31, 2021 . MegaChips is the largest stockholder of the Company and held approximately 23.3 % and 24.0 % of the Company’s outstanding common stock as of September 30, 2022 and December 31, 2021, respectively. In May 2021, the Company signed a consulting agreement with Akira Takata, a member of the Board of Directors of the Company, to provide sales consulting services through December 31, 2021, for which he received monthly cash fees of $ 5,000 , reimbursement of expenses, and an equity award of 500 RSUs that fully vested on November 20, 2021 . In December 2021, the Company signed an amendment to extend the consulting agreement with Mr. Takata through December 31, 2022 , for which he continues to receive monthly cash fees, reimbursement of expenses, and an equity award of 300 RSUs that fully vest on N ovember 20, 202 2 . The following is a summary of significant balances, transactions and payments with the related parties and affiliates. Three Months Ended September 30, Nine Months Ended September 30, Transactions 2022 2021 2022 2021 (in thousands) MegaChips Sales through distribution agreement $ — $ 1,896 $ — $ 8,166 Commission expense — 79 — 340 Affiliates Consulting fees 47 106 152 231 Three Months Ended September 30, Nine Months Ended September 30, Payments 2022 2021 2022 2021 (in thousands) (in thousands) MegaChips Cash paid for commissions $ — $ 79 $ — $ 340 Affiliates Cash paid for consulting fees 47 106 152 231

The Company and Basis of Pres_2

The Company and Basis of Presentation (Policies)	9 Months Ended
The Company and Basis of Presentation (Policies)	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Coronavirus Disease ("the COVID-19 pandemic")	Coronavirus Disease (“the COVID-19 pandemic”) The COVID-19 pandemic has continued to impact the Company's workforce and the operations of its customers and suppliers during 2022. In response to the ongoing COVID-19 pandemic and related government measures, the Company implemented safety measures to protect its employees and contractors at its locations around the world. As the COVID-19 pandemic continues, the timing and overall demand of the Company's products and availability of supply chain may negatively and materially impact the Company's business operations and financial results. To date, the Company has experienced minimal impact from any supplier disruption resulting from the COVID-19 pandemic, however, due to the changing nature and continuing uncertainty around the COVID-19 pandemic, the Company's ability to predict the impact of the COVID-19 pandemic on its business and financial results in future periods remains limited. The Company continues to actively monitor the effects and potential impacts of the COVID-19 pandemic on its business and may take further actions altering its business operations that it determines to be in the best interests of its employees, customers, partners, suppliers, and stakeholders, or as required by federal, state, or local authorities. It is not clear what the potential effects any such alterations or modifications may have on the Company's business, including the effects on its customers, employees, operations, and prospects, or on the financial results for 2022 and beyond.
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.
Significant Accounting Policies	Significant Accounting Policies The Company’s significant accounting policies are disclosed in the Company’s audited consolidated financial statements and related notes thereto included in the Annual Report on Form 10-K for the year ended December 31, 2021. There has been no changes to these accounting policies through September 30, 2022.
Recently Accounting Pronouncements	Recent Accounting Pronouncements There are no new accounting pronouncements that are pending to be adopted by the Company.

Net Income Per Share (Tables)

Net Income Per Share (Tables)	9 Months Ended
Net Income Per Share (Tables)	Sep. 30, 2022
Earnings Per Share [Abstract]
Summary of Computation of Basic and Diluted Net Income per Share	The following table summarizes the computation of basic and diluted net income per share attributable to common stockholders of the Company: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (in thousands, except per share data) Net income attributable to common stockholders $ 5,783 $ 13,960 $ 24,782 $ 12,418 Weighted-average shares outstanding Weighted average shares used to compute basic net income per share 21,353 19,149 21,143 18,658 Dilutive effect of employee equity incentive plans 1,261 2,103 1,545 2,112 Weighted average shares used to compute diluted net income per share 22,614 21,252 22,688 20,770 Net income attributable to common stockholders per share, basic $ 0.27 $ 0.73 $ 1.17 $ 0.67 Net income attributable to common stockholders per share, diluted $ 0.26 $ 0.66 $ 1.09 $ 0.60

Balance Sheets Components (Tabl

Balance Sheets Components (Tables)	9 Months Ended
Balance Sheets Components (Tables)	Sep. 30, 2022
Balance Sheet Related Disclosures [Abstract]
Schedule of Accounts Receivable, Net	Accounts receivable, net consisted of the following: As of September 30, 2022 December 31, 2021 (in thousands) Accounts receivable, gross $ 44,946 $ 38,426 Allowance for credit losses ( 50 ) ( 50 ) Accounts receivable, net $ 44,896 $ 38,376
Schedule of Inventory	Inventories consisted of the following: As of September 30, 2022 December 31, 2021 (in thousands) Raw materials $ 5,940 $ 1,841 Work in progress 31,914 16,963 Finished goods 7,531 4,826 Total inventories $ 45,385 $ 23,630
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following: As of September 30, 2022 December 31, 2021 (in thousands) Prepaid expenses $ 3,697 $ 2,398 Other current assets 4,444 2,078 Total prepaid expenses and other current assets $ 8,141 $ 4,476
Schedule of Property and Equipment Net	Property and equipment, net consisted of the following: As of September 30, 2022 December 31, 2021 (in thousands) Lab and manufacturing equipment $ 66,476 $ 44,283 Computer equipment 2,960 1,977 Furniture and fixtures 497 433 Construction in progress 7,734 7,100 Leasehold improvements 6,609 5,211 84,276 59,004 Accumulated depreciation ( 28,162 ) ( 21,102 ) Total property and equipment, net $ 56,114 $ 37,902
Schedule of Intangible Assets, Net	Intangible assets, net consisted of the following: As of September 30, 2022 December 31, 2021 (in thousands) Gross Assets Accumulated Amortization Net Assets Gross Assets Accumulated Amortization Net Assets Internal use software $ 9,434 $ ( 8,732 ) $ 702 $ 9,434 $ ( 8,633 ) $ 801 Purchased software 11,659 ( 7,630 ) 4,029 11,703 ( 6,527 ) 5,176 Intangible assets $ 21,093 $ ( 16,362 ) $ 4,731 $ 21,137 $ ( 15,160 ) $ 5,977
Schedule of Future Amortization Expense for Intangible Assets	The estimated aggregate future amortization expense for intangible assets subject to amortization as of September 30, 2022 is summarized as below: (in thousands) 2022 (remainder) $ 710 2023 2,115 2024 1,420 2025 426 2026 and beyond 60 $ 4,731
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consisted of the following: As of September 30, 2022 December 31, 2021 (in thousands) Accrued payroll and related benefits $ 5,040 $ 7,237 Revenue reserves 2,990 2,194 Deferred non-recurring engineering services 2,092 5,666 Short term lease liability 2,303 1,336 Accrued customer rebates 63 3,107 Other accrued expenses 5,964 4,742 Total accrued expenses and other current liabilities $ 18,452 $ 24,282

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Sep. 30, 2022
Leases [Abstract]
Summary of Lease Related Assets and Liabilities	The table below presents the lease-related assets and liabilities recorded on the consolidated balance sheet as of September 30, 2022: As of September 30, 2022 December 31, 2021 (in thousands) Right-of-use assets $ 11,122 $ 8,194 Lease liabilities included in accrued expenses and other current liabilities 2,303 1,336 Lease liabilities - non-current 8,535 6,398 Total operating lease liabilities $ 10,838 $ 7,734 Weighted-average remaining lease term (years) 4.4 5.0 Weighted-average discount rate 4.4 % 4.5 %
Summary of Lease Costs	The table below presents certain information related to the lease costs for operating leases for the three and nine months ended September 30, 2022 and 2021: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (in thousands) Operating lease cost $ 710 $ 396 $ 1,970 $ 1,278 Short-term lease cost 381 86 1,213 313 Variable lease cost 212 34 566 199 Total lease cost $ 1,303 $ 516 $ 3,749 $ 1,790
Summary of Undiscounted Cash Flows	The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the operating lease liabilities recorded on the consolidated balance sheet as of September 30, 2022: (in thousands) Remainder of 2022 $ 546 2023 2,948 2024 2,904 2025 2,575 2026 2,143 2027 and beyond 831 Total minimum lease payments 11,947 Less: amount of lease payments representing interest ( 1,109 ) Present value of future minimum lease payments 10,838 Less: current obligations under leases ( 2,303 ) Long-term lease liabilities $ 8,535

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
Stockholders' Equity (Tables)	Sep. 30, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Schedule of Restricted Stock Unit Award ("RSU") and Performance Based Restricted Stock Unit Awards ("PRSU") and Multi-year Performance Restricted Stock Units ("MYPSU") Activity (Details)	The following table summarizes the RSU, performance based restricted stock unit awards ("PRSU"), and multi-year performance restricted stock units ("MYPSU") activity for the three and nine months ended September 30, 2022: RSU Grant Date PRSU Grant Date MYPSU Grant Date Number of Fair Value Number of Fair Value Number of Fair Value Shares per share Shares per share Shares per share Unvested at December 31, 2021 2,227,197 $ 40.6 58,954 $ 261.4 — $ - Granted 173,291 232.7 11,202 233.1 311,872 88.6 Vested ( 217,358 ) 45.8 — — — — Forfeited ( 5,352 ) 117.3 — — — — Unvested at March 31, 2022 2,177,778 $ 55.1 70,156 $ 256.9 311,872 $ 88.6 Granted 104,555 217.7 — — — — Vested ( 214,327 ) 45.3 — — — — Forfeited ( 21,962 ) 89.5 — — — — Unvested at June 30, 2022 2,046,044 $ 62.2 70,156 $ 256.9 311,872 $ 88.6 Granted 95,760 179.5 — — — — Vested ( 228,443 ) 44.8 — — — — Forfeited ( 16,913 ) 120.8 — — — — Unvested at September 30, 2022 1,896,448 $ 71.8 70,156 $ 256.9 311,872 $ 88.6
Schedule of Stock-based Compensation Expense Amounts Included in Condensed Consolidated Statement of Operations	The following table presents the detail of stock-based compensation expense amounts included in the condensed consolidated statement of operations for each of the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (in thousands) Equity based awards Cost of revenue $ 337 $ 421 $ 1,259 $ 1,233 Research and development 6,934 2,587 16,634 7,695 Selling, general and administrative 7,199 3,763 20,740 10,652 $ 14,470 $ 6,771 $ 38,633 $ 19,580 Liability based awards - to be settled in equity Cost of revenue $ 28 $ 22 $ 91 $ 72 Research and development 663 289 1,550 698 Selling, general and administrative 542 306 1,521 1,187 $ 1,233 $ 617 $ 3,162 $ 1,957 Total stock-based compensation - equity and liability based $ 15,703 $ 7,388 $ 41,795 $ 21,537 Liability-based awards - cash settled Cost of revenue $ — $ — $ — $ 102 Research and development — — — 143 Selling, general and administrative — — — 108 $ — $ — $ — $ 353 Total stock-based compensation expense $ 15,703 $ 7,388 $ 41,795 $ 21,890 Stock-based compensation expense recorded to additional paid-in capital Equity based awards $ 14,470 $ 6,771 $ 38,633 $ 19,580 Liability based awards - settled in equity 1,930 1,340 3,418 2,531 Total stock-based compensation expense recorded to additional paid-in capital $ 16,400 $ 8,111 $ 42,051 $ 22,111
Summary of Unrecognized Compensation Costs and Related Weighted Average Period Of Recognition	The following table presents the unrecognized compensation costs and related weighted average period of recognition as of September 30, 2022: As of September 30, 2022 Unrecognized Compensation Costs (in millions) Weighted Average Period of Recognition (in years) RSUs $ 121.4 2.9 PRSUs $ - - MYPSUs $ 21.6 1.4 Liability-based awards $ 0.7 0.4

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
Income Taxes (Tables)	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Schedule of Provision for Income Taxes and Effective Tax Rates	The following table presents the provision for income taxes and the effective tax rates for the three and nine months ended September 30, 2022 and 2021: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (in thousands) Income before income taxes $ 5,786 $ 13,964 $ 24,905 $ 12,485 Income tax expense ( 3 ) ( 4 ) ( 123 ) ( 67 ) Effective tax rate 0 % 0 % 0 % 1 %

Segment, Geographic and Custo_2

Segment, Geographic and Customer Information (Tables)	9 Months Ended
Segment, Geographic and Customer Information (Tables)	Sep. 30, 2022
Segment Reporting [Abstract]
Schedule of Revenue by Country	The following table sets forth revenue by country for countries with 10% or more of the Company’s revenue during any of the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (in thousands) Taiwan $ 26,730 $ 16,506 $ 74,347 $ 45,008 Hong Kong 16,547 23,063 48,425 52,054 United States 10,157 5,756 26,177 9,691 Other 19,661 17,704 73,817 36,314 Total $ 73,095 $ 63,029 $ 222,766 $ 143,067
Schedule of Property and Equipment and Intangible Assets Attributable to Operations	The following table sets forth the Company’s total property and equipment and intangible assets attributable to operations by country as of the periods presented: As of September 30, 2022 December 31, 2021 United States 48 % 57 % Malaysia 30 % 31 % Taiwan 7 % 5 % Other 15 % 7 %

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
Related Party Transactions (Tables)	Sep. 30, 2022
Related Party Transactions [Abstract]
Summary of Significant Balances, Transactions and Payments with Related Parties and Affiliates	The following is a summary of significant balances, transactions and payments with the related parties and affiliates. Three Months Ended September 30, Nine Months Ended September 30, Transactions 2022 2021 2022 2021 (in thousands) MegaChips Sales through distribution agreement $ — $ 1,896 $ — $ 8,166 Commission expense — 79 — 340 Affiliates Consulting fees 47 106 152 231 Three Months Ended September 30, Nine Months Ended September 30, Payments 2022 2021 2022 2021 (in thousands) (in thousands) MegaChips Cash paid for commissions $ — $ 79 $ — $ 340 Affiliates Cash paid for consulting fees 47 106 152 231

Net Income Per Share - Summary

Net Income Per Share - Summary of Computation of Basic and Diluted Net Income per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Net income attributable to common stockholders	$ 5,783	$ 13,960	$ 24,782	$ 12,418
Weighted average shares used to compute basic net income per share	21,353	19,149	21,143	18,658
Dilutive effect of employee equity incentive plans	1,261	2,103	1,545	2,112
Weighted average shares used to compute diluted net income per share	22,614	21,252	22,688	20,770
Net income attributable to common stockholders per share, basic	$ 0.27	$ 0.73	$ 1.17	$ 0.67
Net income attributable to common stockholders per share, diluted	$ 0.26	$ 0.66	$ 1.09	$ 0.60

Net Income Per Share (Additiona

Net Income Per Share (Additional Information) (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Anti-dilutive weighted shares	365,102	0	265,235	5,350

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - Level 1 - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash balances in bank	$ 35.3	$ 339.3
Highly liquid money market funds	6.3
Treasury bills		$ 220.2
Short-term investments in held-to-maturity securities, at amortized cost	520
Short-term investments in held-to-maturity securities, gross unrealized gain	2.2
Short-term investments in held-to-maturity securities, net carrying value	$ 522.2

Balance Sheets Components - Sch

Balance Sheets Components - Schedule of Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Accounts Receivable, after Allowance for Credit Loss, Current [Abstract]
Accounts receivable, gross	$ 44,946	$ 38,426
Allowance for credit losses	(50)	(50)
Accounts receivable, net	$ 44,896	$ 38,376

Balance Sheets Components - S_2

Balance Sheets Components - Schedule of Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 5,940	$ 1,841
Work in progress	31,914	16,963
Finished goods	7,531	4,826
Total inventories	$ 45,385	$ 23,630

Balance Sheets Components - S_3

Balance Sheets Components - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid expenses	$ 3,697	$ 2,398
Other current assets	4,444	2,078
Total prepaid expenses and other current assets	$ 8,141	$ 4,476

Balance Sheets Components - S_4

Balance Sheets Components - Schedule of Property and Equipment Net (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 84,276	$ 59,004
Accumulated depreciation	(28,162)	(21,102)
Total property and equipment, net	56,114	37,902
Lab and Manufacturing Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	66,476	44,283
Computer Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	2,960	1,977
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Property and equipment, gross	497	433
Construction in progress
Property Plant And Equipment [Line Items]
Property and equipment, gross	7,734	7,100
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 6,609	$ 5,211

Balance Sheets Components - Add

Balance Sheets Components - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Depreciation expense	$ 2,700	$ 700	$ 7,200	$ 1,900
Amortization expense for intangible assets	500	500	1,300	1,600
Reduction in research and development expenses	23,878	13,005	66,490	36,252
Accrued customer rebates	63		63		$ 2,700	$ 3,107
Accrued customer rebate waiver	2,700
Non-recurring Engineering Service Arrangements
Finite-Lived Intangible Assets [Line Items]
Reduction in research and development expenses	$ 2,900	$ 900	$ 7,700	$ 1,000

Balance Sheets Components - S_5

Balance Sheets Components - Schedule of Intangible Assets Net (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Finite Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 21,093	$ 21,137
Accumulated amortization	(16,362)	(15,160)
Intangible assets, net	4,731	5,977
Internal use software
Finite Lived Intangible Assets [Line Items]
Intangible assets, gross	9,434	9,434
Accumulated amortization	(8,732)	(8,633)
Intangible assets, net	702	801
Purchased Software
Finite Lived Intangible Assets [Line Items]
Intangible assets, gross	11,659	11,703
Accumulated amortization	(7,630)	(6,527)
Intangible assets, net	$ 4,029	$ 5,176

Balance Sheets Components - S_6

Balance Sheets Components - Schedule of Future Amortization Expense for Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
2022 (remainder)	$ 710
2023	2,115
2024	1,420
2025	426
2026 and beyond	60
Intangible assets, net	$ 4,731	$ 5,977

Balance Sheets Components - S_7

Balance Sheets Components - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrued payroll and related benefits	$ 5,040		$ 7,237
Revenue reserves	2,990		2,194
Deferred non-recurring engineering services	2,092		5,666
Short term lease liability	2,303		1,336
Accrued customer rebates	63	$ 2,700	3,107
Other accrued expenses	5,964		4,742
Total accrued expenses and other current liabilities	$ 18,452		$ 24,282

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Lease Disclosure [Line Items]
Operating lease right-of use asset	$ 11,122		$ 8,194
Current lease liabilities	2,303		1,336
Long-term lease liabilities	8,535		6,398
Operating lease liability	10,838		$ 7,734
Cash paid for operating lease liabilities	$ 1,800	$ 1,500
Office Space
Lease Disclosure [Line Items]
Lease term expiration date	Apr. 30, 2027
Lease incentives received	$ 400
Lease option to extend	The remaining lease terms vary from a few months to 7 years. For certain of its leases the Company has options to extend the lease term for periods varying from one to five years.
Extended term of leases	3 months
Option to extend	true
Seven Operating Leases Commenced in September 2022
Lease Disclosure [Line Items]
Operating lease right-of use asset	$ 4,900
Current lease liabilities	1,000
Long-term lease liabilities	$ 4,100
Operating Lease Commences in November 2022
Lease Disclosure [Line Items]
Lease term	3 years
Operating lease right-of use asset	$ 200
Operating lease liability	$ 200
Leases not yet commenced	Company entered into an operating lease that commences in November 2022 with a three year term, for which the Company expects to record right-of-use asset of approximately $0.2 million and lease liability of approximately $0.2 million at the commencement of the lease.
Maximum
Lease Disclosure [Line Items]
Lease term	7 years
Operating lease, renewal term	5 years
Maximum \| Seven Operating Leases Commenced in September 2022
Lease Disclosure [Line Items]
Lease term	7 years
Minimum
Lease Disclosure [Line Items]
Operating lease, renewal term	1 year
Minimum \| Seven Operating Leases Commenced in September 2022
Lease Disclosure [Line Items]
Lease term	2 years

Leases - Summary of Lease Relat

Leases - Summary of Lease Related Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Leases [Abstract]
Right-of-use assets, net	$ 11,122	$ 8,194
Lease liabilities included in accrued expenses and other current liabilities	2,303	1,336
Long-term lease liabilities	8,535	6,398
Total operating lease liabilities	$ 10,838	$ 7,734
Weighted-average remaining lease term (years)	4 years 4 months 24 days	5 years
Weighted-average discount rate	4.40%	4.50%

Leases - Summary of Lease Costs

Leases - Summary of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Leases [Abstract]
Operating lease cost	$ 710	$ 396	$ 1,970	$ 1,278
Short-term lease cost	381	86	1,213	313
Variable lease cost	212	34	566	199
Total lease cost	$ 1,303	$ 516	$ 3,749	$ 1,790

Leases - Summary of Undiscounte

Leases - Summary of Undiscounted Cash Flows (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Leases [Abstract]
Remainder of 2022	$ 546
2023	2,948
2024	2,904
2025	2,575
2026	2,143
2027 and beyond	831
Total minimum lease payments	11,947
Less: amount of lease payments representing interest	(1,109)
Total operating lease liabilities	10,838	$ 7,734
Less: current obligations under leases	(2,303)	(1,336)
Long-term lease liabilities	$ 8,535	$ 6,398

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Restricted Stock Unit Award ("RSU") and Performance Based Restricted Stock Unit Awards ("PRSU") and Multi-year Performance Restricted Stock Units ("MYPSU") Activity (Details) - $ / shares	3 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022
Restricted Stock Units RSU
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Unvested Beginning Balance	2,046,044	2,177,778	2,227,197
Number of Shares, Granted	95,760	104,555	173,291
Number of Shares, Vested	(228,443)	(214,327)	(217,358)
Number of Shares, Forfeited	(16,913)	(21,962)	(5,352)
Number of Shares, Unvested Ending Balance	1,896,448	2,046,044	2,177,778
Grant Date Fair Value per share, Unvested Beginning Balance	$ 62.2	$ 55.1	$ 40.6
Grant Date Fair Value per share, Granted	179.5	217.7	232.7
Grant Date Fair Value per share, Vested	44.8	45.3	45.8
Grant Date Fair Value per share, Forfeited	120.8	89.5	117.3
Grant Date Fair Value per share, Unvested Ending Balance	$ 71.8	$ 62.2	$ 55.1
Performance Restricted Stock Unit Award PRSU
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Unvested Beginning Balance	70,156	70,156	58,954
Number of Shares, Granted			11,202
Number of Shares, Unvested Ending Balance	70,156	70,156	70,156
Grant Date Fair Value per share, Unvested Beginning Balance	$ 256.9	$ 256.9	$ 261.4
Grant Date Fair Value per share, Granted			233.1
Grant Date Fair Value per share, Unvested Ending Balance	$ 256.9	$ 256.9	$ 256.9
Multi-year Performance Restricted Stock Unit Award MYPSU
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Unvested Beginning Balance	311,872	311,872
Number of Shares, Granted			311,872
Number of Shares, Unvested Ending Balance	311,872	311,872	311,872
Grant Date Fair Value per share, Unvested Beginning Balance	$ 88.6	$ 88.6
Grant Date Fair Value per share, Granted			$ 88.6
Grant Date Fair Value per share, Unvested Ending Balance	$ 88.6	$ 88.6	$ 88.6

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands				1 Months Ended	3 Months Ended	9 Months Ended
	May 04, 2022	Nov. 10, 2021	Feb. 22, 2021	Feb. 28, 2022	Sep. 30, 2022	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Deferred offering costs						$ 687	$ 340
Common stock, shares authorized					200,000,000	200,000,000		200,000,000
Common stock, par value					$ 0.0001	$ 0.0001		$ 0.0001
Accrued expenses and other current liabilities					$ 18,452	$ 18,452		$ 24,282
Second Half of 2022 Goals
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Accrued expenses and other current liabilities					400	400
Restricted Stock Units RSU
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation costs					121,400	$ 121,400
Unrecognized compensation cost is expected weighted average period						2 years 10 months 24 days
Liability-based Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Accrued expenses and other current liabilities					800	$ 800
Unrecognized compensation costs					700	$ 700
Unrecognized compensation cost is expected weighted average period						4 months 24 days
Multi-year Performance Restricted Stock Unit Award MYPSU
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation costs					$ 21,600	$ 21,600
Unrecognized compensation cost is expected weighted average period						1 year 4 months 24 days
Stock price target achievement period				60-trading day
Expected volatility				44.40%
Risk free rate				1.83%
Expected dividend yield				0%
Expected term				6 years
Minimum \| First Half of 2022 Goals
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage actual payouts					113%	113%
Maximum \| First Half of 2022 Goals
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage actual payouts					130%	130%
Maximum \| Multi-year Performance Restricted Stock Unit Award MYPSU
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance period of common stock				six years
Follow-on Public Offering
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of common stock upon follow-on public offering net of underwriting discounts and commissions and deferred offerings costs, Shares		1,300,000	1,500,000
Proceeds from public offering, net of underwriting discounts and commissions		$ 279,000	$ 181,600
Payments for underwriting discounts and commissions		13,200	8,600
Deferred offering costs		$ 300	$ 300
Stifel \| At-The-Market Issuance Sales Agreement
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of common stock upon follow-on public offering net of underwriting discounts and commissions and deferred offerings costs, Shares	800,000				25,334	125,334
Proceeds from public offering, net of underwriting discounts and commissions					$ 2,900	$ 23,000
Payments for underwriting discounts and commissions					100	500
Deferred offering costs					$ 100	$ 600
Common stock, shares authorized	800,000
Common stock, par value	$ 0.0001
Shares issued price per share					$ 122.09	$ 188.98
Percentage of sales commission from common stock sold	3%

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Stock-based Compensation Expense Amounts Included in Condensed Consolidated Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 15,703	$ 7,388	$ 41,795	$ 21,890
Additional Paid-in Capital
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	16,400	8,111	42,051	22,111
Equity Based Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	14,470	6,771	38,633	19,580
Equity Based Awards \| Additional Paid-in Capital
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	14,470	6,771	38,633	19,580
Equity Based Awards \| Cost of Revenue
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	337	421	1,259	1,233
Equity Based Awards \| Selling, General and Administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	7,199	3,763	20,740	10,652
Equity Based Awards \| Research and Development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	6,934	2,587	16,634	7,695
Liability Based Awards to be Settled in Equity
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	1,233	617	3,162	1,957
Liability Based Awards to be Settled in Equity \| Cost of Revenue
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	28	22	91	72
Liability Based Awards to be Settled in Equity \| Selling, General and Administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	542	306	1,521	1,187
Liability Based Awards to be Settled in Equity \| Research and Development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	663	289	1,550	698
Equity and Liability Based Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	15,703	7,388	41,795	21,537
Liability-based Awards \| Additional Paid-in Capital
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 1,930	$ 1,340	$ 3,418	2,531
Liability Based Awards - Cash Settled
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense				353
Liability Based Awards - Cash Settled \| Cost of Revenue
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense				102
Liability Based Awards - Cash Settled \| Selling, General and Administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense				108
Liability Based Awards - Cash Settled \| Research and Development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense				$ 143

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Unrecognized Compensation Costs and Related Weighted Average Period of Recognition (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
RSUs
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized Compensation Costs	$ 121.4
Weighted Average Period of Recognition (in years)	2 years 10 months 24 days
MYPSUs
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized Compensation Costs	$ 21.6
Weighted Average Period of Recognition (in years)	1 year 4 months 24 days
Liability-based Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized Compensation Costs	$ 0.7
Weighted Average Period of Recognition (in years)	4 months 24 days

Income Taxes - Schedule of Prov

Income Taxes - Schedule of Provision for Income Taxes and Effective Tax Rates (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income before income taxes	$ 5,786	$ 13,964	$ 24,905	$ 12,485
Income tax expense	$ (3)	$ (4)	$ (123)	$ (67)
Effective tax rate	0%	0%	0%	1%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Income Tax [Line Items]
Unrecognized tax benefits	$ 2,400		$ 2,400		$ 2,400
Effective tax rate	0%	0%	0%	1%
Income tax provision	$ 3	$ 4	$ 123	$ 67
Maximum
Income Tax [Line Items]
Effective tax rate	1%	1%	1%
Income tax provision	$ 100	$ 100
U.S. effective tax rate			1%

Segment, Geographic and Custo_3

Segment, Geographic and Customer Information - Additional Information (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022 Distributor	Sep. 30, 2021 Distributor	Sep. 30, 2022 Distributor Segment	Sep. 30, 2021 Distributor
Segment Reporting Information [Line Items]
Number of reportable segments \| Segment			1
Revenue Benchmark \| Distributor Concentration Risk
Segment Reporting Information [Line Items]
Number of distributors accounted for 10% or more of revenues	0	0	0	0
Revenue Benchmark \| Customer Concentration Risk
Segment Reporting Information [Line Items]
Number of customers accounted for 10% or more of revenues	0	0	0	0
Revenue Benchmark \| Distributor One \| Distributor Concentration Risk
Segment Reporting Information [Line Items]
Sales revenue percentage	22%	20%	17%	22%
Revenue Benchmark \| Distributor One \| Customer Concentration Risk
Segment Reporting Information [Line Items]
Sales revenue percentage	25%	20%	19%	23%
Revenue Benchmark \| Distributor Two \| Distributor Concentration Risk
Segment Reporting Information [Line Items]
Sales revenue percentage	18%	17%	16%	16%
Revenue Benchmark \| Distributor Three \| Distributor Concentration Risk
Segment Reporting Information [Line Items]
Sales revenue percentage	15%	8%	12%	11%

Segment, Geographic and Custo_4

Segment, Geographic and Customer Information - Schedule of Revenue by Country (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Revenue	$ 73,095	$ 63,029	$ 222,766	$ 143,067
Revenue from Contract with Customer Benchmark \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Revenue	73,095	63,029	222,766	143,067
Taiwan \| Revenue from Contract with Customer Benchmark \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Revenue	26,730	16,506	74,347	45,008
Hong Kong \| Revenue from Contract with Customer Benchmark \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Revenue	16,547	23,063	48,425	52,054
United States \| Revenue from Contract with Customer Benchmark \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Revenue	10,157	5,756	26,177	9,691
Other \| Revenue from Contract with Customer Benchmark \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Revenue	$ 19,661	$ 17,704	$ 73,817	$ 36,314

Segment, Geographic and Custo_5

Segment, Geographic and Customer Information - Schedule of Property and Equipment and Intangible Assets Attributable to Operations (Details)	Sep. 30, 2022	Dec. 31, 2021
United States
Segment Reporting Information [Line Items]
Percentage of long lived assets	48%	57%
Malaysia
Segment Reporting Information [Line Items]
Percentage of long lived assets	30%	31%
Taiwan
Segment Reporting Information [Line Items]
Percentage of long lived assets	7%	5%
Other
Segment Reporting Information [Line Items]
Percentage of long lived assets	15%	7%

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($)		1 Months Ended		3 Months Ended
	Aug. 31, 2021	Dec. 31, 2021	May 31, 2021	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022
Restricted Stock Units RSU
Related Party Transaction [Line Items]
Equity award, granted				95,760	104,555	173,291
MegaChips
Related Party Transaction [Line Items]
Agreement termination date	Aug. 31, 2021
MegaChips \| Si Time Corporation
Related Party Transaction [Line Items]
Percentage of outstanding common stock held		24%		23.30%
Akira Takata
Related Party Transaction [Line Items]
Sales consulting services fee			$ 5,000
Agreement extension date		Dec. 31, 2022
Akira Takata \| Restricted Stock Units RSU
Related Party Transaction [Line Items]
Equity award, granted		300	500
Equity award, vesting date		Nov. 20, 2022	Nov. 20, 2021

Related Party Transactions - Su

Related Party Transactions - Summary of Significant Balances, Transactions and Payments with Related Parties and Affiliates (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
MegaChips
Related Party Transaction [Line Items]
Sales through distribution agreement		$ 1,896		$ 8,166
Commission expense		79		340
Cash paid for commissions		79		340
Affliates
Related Party Transaction [Line Items]
Consulting fees	$ 47	106	$ 152	231
Cash paid for consulting fees	$ 47	$ 106	$ 152	$ 231