Techpoint (THPTF) 10-Q 9 Aug 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Aug. 01, 2024
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Registrant Name	Techpoint, Inc.
Entity Central Index Key	0001556898
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	000-55843
Entity Tax Identification Number	80-0806545
Entity Address, Address Line One	2550 N. First Street
Entity Address, Address Line Two	#550
Entity Address, City or Town	San Jose
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	USA 95131
Entity Address, Country	US
City Area Code	408
Local Phone Number	324-0588
Entity Common Stock, Shares Outstanding		18,550,521
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Japanese Depositary Shares | Japan Exchange Group
Document Information [Line Items]
Trading Symbol	0001556898
Title of 12(b) Security	Japanese Depositary Shares, each representing one
Common Stock, Par Value
Document Information [Line Items]
Trading Symbol	0001556898
Title of 12(b) Security	Common Stock, $0.0001 par value per share

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 23,577	$ 13,671
Short-term investments	43,928	51,788
Accounts receivable	178	40
Inventory	12,259	9,518
Prepaid expenses and other current assets	1,077	939
Total current assets	81,019	75,956
Property and equipment, net	404	522
Deferred tax assets	4,142	3,620
Right-of-use assets	739	1,045
Goodwill	891	891
Intangible assets, net	981	1,036
Long-term investments		500
Other assets	157	237
Total assets	88,333	83,807
Current liabilities:
Accounts payable	1,517	1,707
Accrued liabilities	3,316	2,322
Customer deposits	771	1,448
Lease liabilities	433	497
Dividend payable	4,626	4,599
Total current liabilities	10,663	10,573
Other liabilities	474	939
Total liabilities	11,137	11,512
Commitments and contingencies (Note 5)
Stockholders’ equity
Preferred stock, par value $0.0001 per share - 5,000,000 shares authorized as of June 30, 2024 and December 31, 2023; nil shares issued and outstanding as of June 30, 2024 and December 31, 2023
Common stock, par value $0.0001 per share - 75,000,000 shares authorized as of June 30, 2024 and December 31, 2023; 18,507,490 and 18,395,682 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively	2	2
Additional paid-in capital	28,272	27,477
Accumulated other comprehensive loss	39	18
Retained earnings	48,883	44,798
Total stockholders’ equity	77,196	72,295
Total liabilities and stockholders’ equity	$ 88,333	$ 83,807

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	18,507,490	18,395,682
Common stock, shares outstanding	18,507,490	18,395,682

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Revenue	$ 16,779	$ 15,298	$ 33,090	$ 29,440
Cost of revenue	8,070	7,071	15,585	13,568
Gross profit	8,709	8,227	17,505	15,872
Operating expenses
Research and development	1,835	1,431	3,918	3,543
Selling, general and administrative	2,604	2,663	5,125	4,893
Total operating expenses	4,439	4,094	9,043	8,436
Income from operations	4,270	4,133	8,462	7,436
Other income, net	659	475	1,432	954
Income before income taxes	4,929	4,608	9,894	8,390
Provision for income taxes	593	558	1,178	964
Net income	$ 4,336	$ 4,050	$ 8,716	$ 7,426
Net income per share:
Basic	$ 0.23	$ 0.22	$ 0.47	$ 0.41
Diluted	$ 0.23	$ 0.22	$ 0.46	$ 0.40
Weighted average shares outstanding used in computing net income per share
Basic	18,464,483	18,294,629	18,452,766	18,263,029
Diluted	18,866,543	18,605,638	18,906,959	18,590,921
Comprehensive income:
Net Income (Loss)	$ 4,336	$ 4,050	$ 8,716	$ 7,426
Other comprehensive income (loss), net of tax:
Unrealized gain (loss) on available-for-sale debt securities, net of tax (expense) benefit of ($5), $8, ($6) and $0 for the three and six months ended June 30, 2024 and 2023, respectively	17	(31)	21	1
Comprehensive income	$ 4,353	$ 4,019	$ 8,737	$ 7,427

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Unrealized gain (loss) on available-for-sale debt securities, net of tax (expense) benefit	$ (5)	$ 8	$ (6)	$ 0

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings
Beginning Balances at Dec. 31, 2022	$ 62,076	$ 2	$ 26,046	$ (147)	$ 36,175
Beginning Balances, Shares at Dec. 31, 2022		18,198,737
Other comprehensive income (loss) - unrealized gain (loss) on available-for-sale debt securities	32			32
Issuance of common stock upon exercise of stock options	29		29
Issuance of common stock upon exercise of stock options, shares		24,600
Issuance of common stock upon vesting of restricted stock units, Shares		32,425
Shares repurchased for tax withholdings on vesting of restricted stock units	(35)		(35)
Shares repurchased for tax withholdings on vesting of restricted stock units, Shares		(4,636)
Stock-based compensation	362		362
Cash dividends adjustments / declared	(4)				(4)
Net Income (Loss)	3,376				3,376
Ending Balances at Mar. 31, 2023	65,836	$ 2	26,402	(115)	39,547
Ending Balances, Shares at Mar. 31, 2023		18,251,126
Beginning Balances at Dec. 31, 2022	62,076	$ 2	26,046	(147)	36,175
Beginning Balances, Shares at Dec. 31, 2022		18,198,737
Net Income (Loss)	7,426
Ending Balances at Jun. 30, 2023	65,609	$ 2	26,739	(146)	39,014
Ending Balances, Shares at Jun. 30, 2023		18,330,591
Beginning Balances at Mar. 31, 2023	65,836	$ 2	26,402	(115)	39,547
Beginning Balances, Shares at Mar. 31, 2023		18,251,126
Other comprehensive income (loss) - unrealized gain (loss) on available-for-sale debt securities	(31)			(31)
Issuance of common stock upon exercise of stock options	10		10
Issuance of common stock upon exercise of stock options, shares		3,250
Issuance of common stock upon vesting of restricted stock units, Shares		82,325
Shares repurchased for tax withholdings on vesting of restricted stock units	(41)		(41)
Shares repurchased for tax withholdings on vesting of restricted stock units, Shares		(6,110)
Stock-based compensation	368		368
Cash dividends adjustments / declared	(4,583)				(4,583)
Net Income (Loss)	4,050				4,050
Ending Balances at Jun. 30, 2023	65,609	$ 2	26,739	(146)	39,014
Ending Balances, Shares at Jun. 30, 2023		18,330,591
Beginning Balances at Dec. 31, 2023	72,295	$ 2	27,477	18	44,798
Beginning Balances, Shares at Dec. 31, 2023		18,395,682
Other comprehensive income (loss) - unrealized gain (loss) on available-for-sale debt securities	4			4
Issuance of common stock upon exercise of stock options	57		57
Issuance of common stock upon exercise of stock options, shares		13,000
Issuance of common stock upon vesting of restricted stock units, Shares		27,575
Shares repurchased for tax withholdings on vesting of restricted stock units	(39)		(39)
Shares repurchased for tax withholdings on vesting of restricted stock units, Shares		(3,807)
Stock-based compensation	399		399
Cash dividends adjustments / declared	(5)				(5)
Net Income (Loss)	4,380				4,380
Ending Balances at Mar. 31, 2024	77,091	$ 2	27,894	22	49,173
Ending Balances, Shares at Mar. 31, 2024		18,432,450
Beginning Balances at Dec. 31, 2023	72,295	$ 2	27,477	18	44,798
Beginning Balances, Shares at Dec. 31, 2023		18,395,682
Net Income (Loss)	8,716
Ending Balances at Jun. 30, 2024	77,196	$ 2	28,272	39	48,883
Ending Balances, Shares at Jun. 30, 2024		18,507,490
Beginning Balances at Mar. 31, 2024	77,091	$ 2	27,894	22	49,173
Beginning Balances, Shares at Mar. 31, 2024		18,432,450
Other comprehensive income (loss) - unrealized gain (loss) on available-for-sale debt securities	17			17
Issuance of common stock upon exercise of stock options	15		15
Issuance of common stock upon exercise of stock options, shares		15,000
Issuance of common stock upon vesting of restricted stock units, Shares		63,862
Shares repurchased for tax withholdings on vesting of restricted stock units	(32)		(32)
Shares repurchased for tax withholdings on vesting of restricted stock units, Shares		(3,822)
Stock-based compensation	395		395
Cash dividends adjustments / declared	(4,626)				(4,626)
Net Income (Loss)	4,336				4,336
Ending Balances at Jun. 30, 2024	$ 77,196	$ 2	$ 28,272	$ 39	$ 48,883
Ending Balances, Shares at Jun. 30, 2024		18,507,490

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares			3 Months Ended
	Dec. 15, 2023	Dec. 16, 2022	Jun. 30, 2024	Jun. 30, 2023
Statement of Stockholders' Equity [Abstract]
Cash dividends declared per share	$ 0.5	$ 0.5	$ 0.25	$ 0.25

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash Flows From Operating Activities
Net income	$ 8,716	$ 7,426
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	182	201
Stock-based compensation	794	730
Accretion of premium on available-for-sale investments	(740)	(318)
Gain on disposal of fixed asset	(132)
Inventory valuation adjustment	50	218
Deferred income taxes	(511)	(597)
Noncash lease expense	364	303
Unrealized gain	(143)
Changes in operating assets and liabilities:
Accounts receivable	(138)	(83)
Inventory	(2,791)	345
Prepaid expenses and other current assets	(88)	(186)
Other assets	80	10
Accounts payable	(1)	(788)
Accrued liabilities	694	514
Customer deposits	(677)	101
Lease liabilities	(122)	(80)
Other liabilities	(184)	(236)
Net cash provided by operating activities	5,353	7,560
Cash Flows From Investing Activities
Purchase of property and equipment	(66)	(111)
Purchases of debt securities	(28,618)	(8,035)
Proceeds from maturities of debt securities	37,839	11,100
Net cash provided by investing activities	9,155	2,954
Cash Flows From Financing Activities
Payment of dividends	(4,603)	(4,555)
Net proceeds from exercise of stock options	72	39
Payment for shares withheld for tax withholdings on vesting of restricted stock units	(71)	(76)
Net cash used in financing activities	(4,602)	(4,592)
Net increase in cash and cash equivalents	9,906	5,922
Cash and cash equivalents at beginning of period	13,671	19,392
Cash and cash equivalents at end of period	23,577	25,314
Supplemental Disclosure of Cash Flow Information
Cash paid for income taxes	2,305	1,589
Supplemental Disclosure of Noncash Investing and Financing Information
Right-of-use assets obtained in exchange for lease liabilities	58	26
Property and equipment purchased but not yet paid		32
Vender credit received upon disposal of fixed asset	58
Cash dividend declared but not yet paid	$ 4,626	$ 4,583

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 4,336	$ 4,380	$ 4,050	$ 3,376	$ 8,716	$ 7,426

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Summary of Significant Accounting Policies	1. Organization and Summary of Significant Accounting Policies Organization Techpoint, Inc. (together with its wholly-owned subsidiaries, the “Company”) was originally incorporated in California in April 2012 and reincorporated in Delaware in July 2017 . The Company is a fabless semiconductor company that designs, markets and sells mixed-signal integrated circuits for multiple video applications in the automotive and security surveillance markets. The Company is headquartered in San Jose, California. Basis of Consolidation and Significant Accounting Policies The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and have been prepared in conformity with generally accepted accounting principles in the United States (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”). All intercompany balances and transactions have been eliminated. The functional currency of each of the Company’s subsidiaries is the U.S. dollar. Foreign currency gains or losses are recorded as other income (expense), net in the condensed consolidated statements of income and comprehensive income. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes for the year ended December 31, 2023 contained in the Company’s Annual Report on Form 10-K. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, which include normal recurring adjustments necessary to present fairly the Company’s financial position, results of operations and cash flows for the interim periods and are not necessarily indicative of the results to be expected for the full fiscal year or for any other future annual or interim periods. Revenue Recognition The Company principally sells its products to distributors who, in turn, sell to original equipment manufacturers (“OEM”), original design manufacturers (“ODM”), contract manufacturers, and design houses. Product revenue consists of sales of mixed-signal integrated circuits into the automotive and security surveillance markets. The Company generally requires advance payments from customers and records these advance payments, or contract liabilities, as customer deposits on its condensed consolidated balance sheet. No stock rotation, price protection or return rights are offered. The Company provides product assurance warranty only and does not offer warranties to be purchased separately. Revenue is recognized when control of the product is transferred to the Company's customers, upon shipment, whereby legal title, risks and rewards of ownership, and physical possession are transferred to the customer. Use of Management’s Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the reporting period. Significant estimates included in the consolidated financial statements include inventory valuation and the valuation allowance for recorded deferred tax assets. These estimates are based upon information available as of the date of the condensed consolidated financial statements. Actual results could differ materially from those estimates. C ertain Significant Risks and Uncertainties The Company operates in a dynamic industry and can be affected by a variety of factors. For example, any of the following areas could have a negative effect on the Company in terms of its future financial position, results of operations or cash flows: the general state of the U.S., China and world economies; the highly cyclical nature of the industries the Company serves; successful and timely completion of product design efforts; trade restrictions by the United States against the Company's customers in China, or potential retaliatory trade actions taken by China; the loss of any of its larger customers; restrictions on the Company's ability to sell to foreign customers due to additional U.S. or new China trade laws, regulations and requirements; disruptions of the supply chain of components needed for its products; fundamental changes in the technology underlying the Company’s products; the hiring, training and retention of key employees; and new product design introductions by competitors. The Company has been impacted by adverse macroeconomic and geopolitical conditions. These conditions include but are not limited to inflation, foreign currency fluctuations, and supply chain challenges. Management continues to actively monitor the impact of these conditions on the Company’s financial condition, liquidity, operations, end-customers (including its significant end-customers), distributors, suppliers, industry, and workforce. The extent to which such events impact the Company’s business, prospects and results of operations will depend on future developments, which are highly uncertain. The Company has made estimates of the impact of these events within its financial statements and there may be changes to those estimates in future periods. Concentration of Customer and Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, investments, and trade receivables. Risks associated with cash and cash equivalents, and investments are mitigated by banking with, and investing in, creditworthy institutions. The Company generally requires advance payments from customers. The Company also performs credit evaluations of its customers and provides credit to certain customers in the normal course of business. The Company has not incurred bad debt write-offs during any of the periods presented. For each significant customer, or distributor, and significant end-customer, revenue as a percentage of total revenue was as follows: Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Customer Customer A 34 % 44 % 35 % 45 % Customer B 13 % * 12 % * End-Customer End-Customer A (1) 20 % 26 % 18 % 26 % * Less than 10% (1) Sales to End-Customer A primarily occurred through Customer A. Concentration of Supplier Risk The Company currently relies on Taiwan Semiconductor Manufacturing Company Limited and United Microelectronics Corporation (formerly Fujitsu Electronics America, Inc.) to produce substantially all of its semiconductors. Also, it relies on Advanced Semiconductor Engineering, Inc., Sigurd Microelectronics Corporation, ATX Semiconductor (Shanghai) Co., Ltd, and Chizhou Hisemi Electronics Technology Co., Ltd to assemble, package and test substantially all of its semiconductors to satisfy substantially all of the Company’s production requirements. The failure of any subcontractor to fulfill the production requirements of the Company on a timely basis would adversely impact future results. Although there are other subcontractors that are capable of providing similar services, an unexpected change in either subcontractor would cause delays in the Company’s products and potentially result in a significant loss of revenue. Recently Issued Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosure. This guidance improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. This guidance becomes effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company plans to adopt this guidance prior to its effective date and has not early adopted such guidance for the period ending June 30, 2024. The impact of this guidance is not expected to have any material impact on the disclosure of the Company’s consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvement to income tax disclosure. This guidance modifies the rules on income tax disclosures to require entities to disclose (1) specific categories in the rate reconciliation, (2) the income or loss from continuing operations before income tax expense or benefit (separated between domestic and foreign operations) and (3) income tax expense or benefit from continuing operations (separated by federal, state and foreign operations). This guidance also requires entities to disclose their income tax payments to international, federal and state and local jurisdictions. This guidance becomes effective for fiscal years beginning after December 15, 2024. The Company plans to adopt this guidance prior to the effective date and has not early adopted for the period ending June 30, 2024. The Company expects this guidance to only impact its disclosures and have no material impact on the Company’s consolidated financial statements. Reclassification Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported current/total assets, current/total liabilities, or results of operations.

Balance Sheet Components

Balance Sheet Components	6 Months Ended
	Jun. 30, 2024
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Components	2. Balance Sheet Components Inventory Inventory consists of the following (in thousands): June 30, December 31, 2024 2023 Work in process $ 7,984 $ 4,795 Finished goods 4,275 4,723 Total inventory $ 12,259 $ 9,518 Property and Equipment, net Property and equipment, net consists of the following (in thousands): June 30, December 31, 2024 2023 Machinery, computer equipment and software $ 2,633 $ 2,759 Leasehold improvements 94 94 Furniture 38 36 Total property and equipment 2,765 2,889 Less: accumulated depreciation ( 2,361 ) ( 2,367 ) Total property and equipment, net $ 404 $ 522 The Company recorded $ 0.1 million of depreciation expense for each of the three months ended June 30, 2024 and 2023 , and $ 0.1 million and $ 0.2 for the six months ended June 30, 2024 and 2023, respectively. Goodwill and Intangible assets, net Goodwill is tested for impairment annually as of December 31 or more frequently on a reporting unit basis when events or changes in circumstances indicate that impairment may have occurred. The Company is not aware of any events or circumstances indicating impairment of goodwill for the six months ended June 30, 2024. Changes in the carrying amount of goodwill for the six months ended June 30, 2024 are as follows (in thousands): Total Goodwill at December 31, 2023 $ 891 Adjustments — Goodwill at June 30, 2024 $ 891 Intangible assets, except goodwill consist of the following (in thousands): June 30, 2024 Acquired intellectual property $ 1,090 Less: accumulated amortization ( 109 ) Total finite-lived intangible assets, net $ 981 The amortization expenses of intangible assets were $ 54,000 and nil for the six months ended June 30, 2024 and 2023, respectively. Acquired intellectual property is amortized over 10 years of its useful life. As of June 30, 2024, expected amortization expense for the unamortized finite-lived intangible assets by years is as follows (in thousands): Year Ending December 31, Amount Remainder of 2024 $ 55 2025 109 2026 109 2027 109 2028 109 Thereafter 490 Total $ 981 Accrued Liabilities Accrued liabilities consisted of the following (in thousands): June 30, December 31, 2024 2023 Payroll-related expenses $ 2,191 $ 983 Engineering service 397 199 Security for the indemnification obligations (1) 300 — Accrued warranty 158 180 Accrued inventory 116 401 Taxes payable 89 468 Professional fees 20 23 Other 45 68 Total accrued liabilities $ 3,316 $ 2,322 (1) In July 2023, the Company acquired certain assets of Broadvis Corporation, including intellectual property and $ 0.3 million that was retained by the Company at closing as security for the indemnification obligations of Broadvis Corporation is expected to be released in January 2025, barring unforeseen circumstances. Customer Deposits Customer deposits represent payments received in advance of shipments and fluctuate depending on timing of customer pre-payments and product shipment. Customer deposits were $ 0.8 million and $ 1.4 million as of June 30, 2024 and December 31, 2023, respectively. T he Company generally expects to recognize revenue from customer deposits during the three month period immediately following the balance sheet date. The Company recognized $ 0.8 million of revenue from the March 31, 2024 customer deposit balance during the three months ended June 30, 2024, and $ 1.4 million of revenue from the December 31, 2023 customer deposits balance during the three months ended March 31, 2024.

Fair Value Measurements of Fina

Fair Value Measurements of Financial Instruments	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements of Financial Instruments	3. Fair Value Measurements of Financial Instruments Summary of Financial Instruments The following is a summary of financial instruments (in thousands): June 30, 2024 Amortized Cost Gross Unrealized Gain Gross Unrealized Loss Estimated Fair Values Available-for-sale securities: Certificates of deposit $ 1,924 $ — $ ( 1 ) $ 1,923 U.S.Treasury bills and notes 35,458 94 ( 25 ) 35,527 Government agency bonds 518 — ( 1 ) 517 Corporate bonds 6,977 — ( 18 ) 6,959 Total available-for-sale securities $ 44,877 $ 94 $ ( 45 ) $ 44,926 Reported in: Cash and cash equivalents $ 998 Short-term investments 43,928 Long-term investments — Total available-for-sale securities $ 44,926 December 31, 2023 Amortized Cost Gross Unrealized Gain Gross Unrealized Loss Estimated Fair Values Available-for-sale securities: Certificates of deposit $ 3,633 $ 1 $ — $ 3,634 U.S.Treasury bills and notes 37,624 76 — 37,700 Government agency bonds 2,600 — ( 3 ) 2,597 Corporate bonds 11,504 — ( 51 ) 11,453 Total available-for-sale securities $ 55,361 $ 77 $ ( 54 ) $ 55,384 Reported in: Cash and cash equivalents $ 3,096 Short-term investments 51,788 Long-term investments 500 Total available-for-sale securities $ 55,384 The contractual maturities of available-for-sale securities are presented in the following table (in thousands): June 30, 2024 December 31, 2023 Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value Due in one year or less $ 44,877 $ 44,926 $ 54,859 $ 54,884 Due between one to two years — — 502 500 $ 44,877 $ 44,926 $ 55,361 $ 55,384 The Company had 51 investments in unrealized loss positions as of June 30, 2024. 38 of such investments have been in unrealized loss positions for less than twelve months. The total Fair Value of such investments is $ 38.7 million with unrealized losses of approximately $ 0.1 million as of June 30, 2024. There were no material gross unrealized losses from available-for-sale securities and no material realized gains or losses from available-for-sale securities that were reclassified from accumulated other comprehensive income for the six months ended June 30, 2024. For investments in available-for-sale debt securities that have unrealized losses, the Company evaluates (i) whether it has the intention to sell any of these investments and (ii) whether it is more likely than not that it will be required to sell any of these investments before recovery of the entire amortized cost basis. Based on this evaluation, the Company determined that there were no other-than-temporary impairments associated with investments as of June 30, 2024. There were no sales of available-for-sale securities for the six months ended June 30, 2024 and 2023. Fair Value Measurements Fair value is defined as the exchange price that would be received from selling an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company measures financial assets and liabilities at fair value at each reporting period using a fair value hierarchy which requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs. A financial instrument’s classification within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Three levels of inputs may be used to measure fair value: Level 1 . Quoted prices in active markets for identical assets or liabilities. Level 2 . Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 . Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques. Financial assets measured at fair value on a recurring basis were as follows (in thousands): Fair Value Measurement at Reporting Date Using Quoted Prices in Significant Total As of June 30, 2024 Financial assets - available-for-sale securities Certificates of deposit $ — $ 1,923 $ 1,923 U.S.Treasury bills and notes — 35,527 35,527 Governmental agency bonds — 517 517 Corporate bonds 6,959 — 6,959 Total financial assets - available-for-sale securities $ 6,959 $ 37,967 $ 44,926 As of December 31, 2023 Financial assets - available-for-sale securities Certificates of deposit $ — $ 3,634 $ 3,634 U.S.Treasury bills and notes 2,198 35,502 37,700 Governmental agency bonds 600 1,997 2,597 Corporate bonds 10,953 500 11,453 Total financial assets - available-for-sale securities $ 13,751 $ 41,633 $ 55,384 The Company uses a pricing service to assist in determining the fair values of all of its cash equivalents, short-term investments and long-term investments. The pricing service uses inputs from multiple industry standard data providers or other third party sources and applies various acceptable methodologies.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segment Information	4. Segment Information Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker, the chief executive officer, reviews financial information presented on a consolidated basis for purposes of making operating decisions and assessing financial performance on a regular basis. Accordingly, the Company considers itself to be one reportable segment, which is comprised of one operating segment - the designing, marketing and selling of mixed-signal integrated circuits for the automotive and security surveillance markets. Product revenue from customers is designated based on the geographic region to which the product is delivered. Revenue by geographic region was as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 China $ 12,410 $ 11,233 $ 24,637 $ 21,752 Taiwan 2,445 2,291 4,785 4,062 South Korea 1,221 1,390 2,382 2,763 Japan 170 326 362 707 Other 533 58 924 156 Total revenue $ 16,779 $ 15,298 $ 33,090 $ 29,440 Revenue by principal product lines was as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Automotive $ 12,386 $ 9,930 $ 24,867 $ 18,727 Security surveillance 4,393 5,368 8,223 10,713 Total revenue $ 16,779 $ 15,298 $ 33,090 $ 29,440 Long-lived assets by geographic region were as follows (in thousands): June 30, December 31, 2024 2023 Taiwan $ 280 $ 308 China 100 176 United States 13 29 South Korea 8 6 Japan 3 3 Total property and equipment, net $ 404 $ 522

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	5. Commitments and Contingencies Operating leases The Company determines if an arrangement contains a lease at inception. The Company leases facilities under non-cancelable lease agreements expiring through fiscal year 2026. The Company’s agreements do not include variable lease payments or any restrictions or covenants imposed by the leases. As the rate implicit in each lease agreement is not readily determinable, the Company’s incremental borrowing rate was used as the discount rate. The Company’s right-of-use assets and lease liabilities have been adjusted for initial direct costs and prepaid rent but do not reflect any options to extend or terminate its lease agreements, any residual value guarantees, or any leases that have not yet commenced. The right-of-use assets and lease liabilities related to operating leases were as follows (in thousands): June 30, December 31, 2024 2023 Right-of-use assets $ 739 $ 1,045 Lease liabilities - Current $ 433 $ 497 Lease liabilities - Non-Current 346 531 Total lease liabilities $ 779 $ 1,028 Rent expense under operating leases was $ 0.2 million for each of the three months ended June 30, 2024 and 2023. Rent expense under operating leases was $ 0.4 million for each of the six months ended June 30, 2024 and 2023. The rent expense recognized from short-term leases was $ 6,000 for each of the three months ended June 30, 2024 and 2023, respectively. The rent expense recognized from short-term leases was $ 12,000 for each of the six months ended June 30, 2024 and 2023. The following tables summarize the Company’s lease costs and weighted-average assumptions used in determining its right-of-use assets and lease liabilities (in thousands): Six Months Ended Six Months Ended June 30, 2024 June 30, 2023 Operating lease cost $ 393 $ 380 Cash paid for operating leases $ 336 $ 385 Right-of-use assets obtained in exchange for operating lease liabilities (1) $ 58 $ 26 Weighted average remaining term for operating leases 1.73 years 0.92 years Weighted average discount rate for operating leases 8.2 % 5.8 % (1) During the six months ended June 30, 2024, the Company e xtended the term of its lease in Taiwan; the Taiwan lease was treated as a modification but not as a separate contract, as no additional right-of-use was granted. The Taiwan lease modification was accounted for as a non-cash change in existing lease liabilities and the right-of-use assets. As of June 30, 2024, the aggregate future minimum lease payments under non-cancelable operating leases consist of the following (in thousands): Year Ending December 31, Amount 2024 (remaining six months) $ 276 2025 417 2026 157 Total 850 Less effects of discounting ( 71 ) Total lease liabilities $ 779 Purchase Commitments As of June 30, 2024 , the Company had purchase commitments with its third-party suppliers through fiscal year 2026. Future minimum payments under purchase commitments total $ 0.7 million for the remaining six months ending December 31, 2024, $ 0.7 million for the year ending December 31, 2025, and $ 0.3 million for the year ending December 31, 2026. Litigation Although the Company is not currently a party to any legal proceedings and there is no litigation currently threatened, the Company may be subject to legal proceedings, claims and litigation, including intellectual property litigation, arising in the ordinary course of business. Such matters are subject to many uncertainties and outcomes and are not predictable with assurance. The Company accrues amounts that it believes are adequate to address any liabilities related to legal proceedings and other loss contingencies that the Company believes will result in a probable loss that is reasonably estimable. Indemnification During the normal course of business, the Company may make certain indemnities, commitments and guarantees which may include intellectual property indemnities to certain of its customers in connection with the sales of the Company’s products and indemnities for liabilities associated with the infringement of other parties’ technology based upon the Company’s products. The Company’s exposure under these indemnification provisions is generally limited to the total amount paid by a customer under the agreement. However, certain agreements include indemnification provisions that could potentially expose the Company to losses in excess of the amount received under the agreement. In addition, the Company indemnifies its officers, directors and certain key employees while they are serving in good faith in such capacities. The Company has not recorded any liability for these indemnities, commitments and guarantees in the accompanying condensed consolidated balance sheets. Where necessary, the Company accrues for losses for any known contingent liabilities, including those that may arise from indemnification provisions, when future payment is probable.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Stockholders' Equity	6. Stockholders’ Equity Preferred Stock The Company is authorized to issue 5,000,000 shares of preferred stock with a $ 0.0001 par value per share as of June 30, 2024 and December 31, 2023 . There were no shares of preferred stock issued and outstanding as of June 30, 2024 and December 31, 2023. Common Stock The Company is authorized to issue 75,000,000 shares of common stock with $ 0.0001 par value per share as of June 30, 2024 and December 31, 2023. As of June 30, 2024 , the shares of common stock issued and outstanding totaled 18,507,490 . As of December 31, 2023, the shares of common stock issued and outstanding were 18,395,682 . The Company has reserved the following number of shares of common stock for future issuances: June 30, 2024 Outstanding stock awards 980,469 Shares available for future issuance under the 2017 Stock Incentive Plan 7,016,775 Total common stock reserved for future issuances 7,997,244 Dividend On December 15, 2023 , the Company announced a cash dividend of an aggregate of $ 0.50 per share for fiscal year 2024, payable in two equal installments of $ 0.25 per share. The first installment of the dividend was paid during the first fiscal quarter of 2024 in the aggregate amount of $ 4.6 million to stockholders of record as of the close of business on January 31, 2024 . On May 31, 2024, the Company announced that the second installment payment of its cash dividend of $ 0.25 on shares of its common stock (including common stock underlying its Japanese Depositary Shares ("JDS")), which was paid to stockholders of record as of June 28, 2024 on July 18, 2024. The aggregate amount of the two dividend payments was $ 9 .2 million. On December 16, 2022 , the Company announced a cash dividend of an aggregate of $ 0.50 per share for fiscal year 2023, payable in two equal installments of $ 0.25 per share. The first installment of the dividend was paid during the first fiscal quarter of 2023 in the aggregate amount of $ 4.6 million to stockholders of record as of the close of business on January 31, 2023 . On June 2, 2023, the Company announced that the second installment payment of its cash dividend of $ 0.25 on shares of its common stock (including common stock underlying its JDS), which was paid to stockholders of record as of June 30, 2023 on July 18, 2023. The aggregate amount of the two dividend payments was $ 9.1 million.

Equity Incentive Plans

Equity Incentive Plans	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Equity Incentive Plans	7. Equity Incentive Plans Stock Incentive Plans In April 2012, the Company adopted a 2012 Stock Option Plan (“2012 Plan”). The 2012 Plan provides for the granting of stock-based awards to employees, directors, and consultants under terms and provisions established by the Company’s board of directors. Under the terms of the 2012 Plan, options may be granted at an exercise price not less than fair market value. For employees holding more than 10 % of the voting rights of all classes of stock, the exercise prices for incentive and non-statutory stock options must be at least 110 % of the fair market value of the common stock on the grant date, as determined by the Company’s board of directors. The terms of options granted under the 2012 Plan may not exceed ten years . The 2012 Plan was superseded by a 2017 Stock Option Plan (“2017 Plan”). Any outstanding awards under the 2012 Plan will continue to be governed by the terms of the 2012 Plan. In August 2017, the Company adopted the 2017 Plan. The Company’s stockholders approved the 2017 Plan in September 2017 and it became effective immediately prior to the closing of the Company’s initial public offering. In connection with the adoption of the 2017 Plan, no additional awards and no shares of common stock remain available for future issuance under the 2012 Plan and shares reserved but not issued under the 2012 Plan as of the effective date of the 2017 Plan were included in the number of shares reserved for issuance under the 2017 Plan. In addition, shares subject to awards under the 2012 Plan that are forfeited or terminated are added to the 2017 Plan. The number of shares available for issuance under the 2017 Plan can be automatically increased on the first day of each fiscal year beginning on January 1, 2018 and ending on (and including) January 1, 2027 , in an amount equal to the lesser of (1) 4 % of the outstanding shares of the Company’s common stock on the last day of the immediately preceding fiscal year, or (2) another amount determined by the Company’s board of directors. The 2017 Plan provides for the granting of incentive stock options within the meaning of Section 422 of the Internal Revenue Code to employees and the granting of non-statutory stock options to employees, non-employee directors, advisors and consultants. The 2017 Plan also provides for the grants of restricted stock, stock appreciation rights, stock unit and cash-based awards to employees, non-employee directors, advisors and consultants. On November 7, 2023, the board of directors of the Company determined not to increase the number of shares of the Company’s common stock authorized for issuance under its 2017 Plan for the 2024 fiscal year, which would have been otherwise subject to a four percent ( 4 %) annual increase on January 1, 2024. The Company’s stock award activity under the 2017 Plan is summarized as follows: Awards Available for As of December 31, 2023 7,057,446 Authorized — Granted ( 58,000 ) Canceled 17,329 As of June 30, 2024 7,016,775 Stock Options The Company’s stock option activity under the 2017 Plan is summarized as follows: Options Weighted- Weighted- Aggregate As of December 31, 2023 431,081 $ 2.81 3.3 $ 3,305 Granted — — Exercised ( 28,000 ) 2.56 Canceled — — As of June 30, 2024 403,081 2.82 2.8 1,992 Options vested and exercisable as of June 30, 2024 403,081 2.82 2.8 1,992 The stock options outstanding and exercisable by exercise price as of June 30, 2024 are as follows: Options Outstanding, Vested and Exercisable Exercise Price Number Weighted- Weighted- $ 0.37 10,000 1.1 $ 0.37 0.97 8,000 1.4 0.97 2.51 46,780 2.2 2.51 2.89 40,000 2.7 2.89 2.93 218,734 3.0 2.93 3.18 79,567 3.1 3.18 403,081 2.8 2.82 The aggregate intrinsic value of options exercised for the six months ended June 30, 2024 and 2023 was $ 0.2 million and $ 0.1 million, respectively. The Company has various vesting agreements with its employees. Options granted generally vest over a five-year period and generally are exercisable for up to 10 years . Restricted Stock Units The Company’s restricted stock units activity is summarized as follows: Units Weighted-Average As of December 31, 2023 620,525 $ 7.63 Granted 58,000 8.28 Released, net ( 83,808 ) 8.90 Canceled ( 17,329 ) 9.45 As of June 30, 2024 577,388 7.65 Restricted stock units are converted into shares of the Company’s common stock upon vesting on a one-for- one basis. Restricted stock unit awards generally vest over a five-year period and are subject to the grantee’s continued service with the Company.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	8. Stock-Based Compensation The following table summarizes the distribution of stock-based compensation expense (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Cost of revenue $ 27 $ 40 $ 57 $ 76 Research and development 150 115 300 234 Selling, general and administrative 218 213 437 420 Total $ 395 $ 368 $ 794 $ 730

Net Income Per Share

Net Income Per Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Net Income Per Share	9. Net Income Per Share The following table presents the calculation of basic and diluted net income per share (amounts in thousands, except share and per share data): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Numerator: Basic and Diluted: Net income $ 4,336 $ 4,050 $ 8,716 $ 7,426 Denominator: Basic shares: Weighted-average shares outstanding used in computing basic 18,464,483 18,294,629 18,452,766 18,263,029 Diluted shares: Effect of potentially dilutive securities: Stock options and restricted stock units 402,060 311,009 454,193 327,892 Weighted-average shares used in computing diluted net 18,866,543 18,605,638 18,906,959 18,590,921 Net income per share: Basic $ 0.23 $ 0.22 $ 0.47 $ 0.41 Diluted $ 0.23 $ 0.22 $ 0.46 $ 0.40 The potentially dilutive shares of common stock outstanding for the three months ended June 30, 2024 and 2023 that were excluded from the computation of diluted net income per share as the effect would have been antidilutive, was approximately 124,000 and 299,000 shares, respectively. The potentially dilutive shares of common stock outstanding for the six months ended June 30, 2024 and 2023 that were excluded from the computation of diluted net income per share for the periods presented as the effect would have been antidilutive was 78,000 and 269,000 shares, respectively.

Provision for Income Taxes

Provision for Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Provision for Income Taxes	10. Provision for Income Taxes The components of income before income taxes were as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Domestic $ 4,859 $ 4,599 $ 9,762 $ 8,321 Foreign 70 9 132 69 Income before income taxes $ 4,929 $ 4,608 $ 9,894 $ 8,390 The components of the provision for income taxes were as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 United States $ 582 $ 556 $ 1,159 $ 956 Foreign 11 2 19 8 Provision for income taxes $ 593 $ 558 $ 1,178 $ 964 The Company applies the provisions of the applicable accounting guidance regarding accounting for uncertainty in income taxes, which require application of a more-likely-than-not threshold to the recognition and derecognition of uncertain tax positions. If the recognition threshold is met, the applicable accounting guidance permits the recognition of a tax benefit measured at the largest amount of such tax benefit that, in the Company’s judgment, is more than fifty percent likely to be realized upon settlement. It further requires that a change in judgment related to the expected ultimate resolution of uncertain tax positions to be recognized in earnings in the period in which such determination is made. The Company will continue to review its tax positions and provide for, or reverse, unrecognized tax benefits as issues arise. As of June 30, 2024, there was no material increase in the liability for unrecognized tax benefits and no accrued interest or penalties related to uncertain tax positions. As of June 30, 2024 , the Company had approximately $ 0 .4 million of unrecognized tax benefits of which $ 0 .3 million was netted against deferred tax assets with a full valuation allowance. If these amounts are recognized, there will be a tax benefit of $ 0 .1 million against the Company’s effective tax rate. The Company files income tax returns in the U.S. federal, California, and foreign jurisdictions with varying statutes of limitations. The Company is generally no longer subject to tax examinations for years prior to 2019 for federal purposes and 2018 for state purposes, except in certain limited circumstances. In California, the Company's net operating loss (“NOL”) and credit carryforwards from all years may be subject to adjustment for four years for California following the year in which utilized. Currently, the Company has California NOLs and credit carryforwards from 2012 which remain subject to adjustment for four years following the year in which utilized, and therefore tax years 2012 through 2022 may remain open for state audit. The Company does not anticipate that any potential tax adjustments will have a significant impact on its financial position or results of operations. The CHIPS and Science Act of 2022 ("CHIPS") and the Inflation Reduction Act ("IRA") of 2022 were signed into law by President Biden on August 9, 2022 and August 16, 2022, respectively. The legislation introduces new options for monetizing certain credits, a corporate alternative minimum tax, and a stock repurchase excise tax. The Company has concluded that the impact of any of the provisions included in CHIPS and IRA acts did not have a material impact on the Company's unaudited condensed consolidated financial statements as of and for the six months ended June 30, 2024.

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Techpoint, Inc. (together with its wholly-owned subsidiaries, the “Company”) was originally incorporated in California in April 2012 and reincorporated in Delaware in July 2017 . The Company is a fabless semiconductor company that designs, markets and sells mixed-signal integrated circuits for multiple video applications in the automotive and security surveillance markets. The Company is headquartered in San Jose, California.
Basis of Consolidation and Significant Accounting Policies	Basis of Consolidation and Significant Accounting Policies The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and have been prepared in conformity with generally accepted accounting principles in the United States (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”). All intercompany balances and transactions have been eliminated. The functional currency of each of the Company’s subsidiaries is the U.S. dollar. Foreign currency gains or losses are recorded as other income (expense), net in the condensed consolidated statements of income and comprehensive income. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes for the year ended December 31, 2023 contained in the Company’s Annual Report on Form 10-K. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, which include normal recurring adjustments necessary to present fairly the Company’s financial position, results of operations and cash flows for the interim periods and are not necessarily indicative of the results to be expected for the full fiscal year or for any other future annual or interim periods.
Revenue Recognition	Revenue Recognition The Company principally sells its products to distributors who, in turn, sell to original equipment manufacturers (“OEM”), original design manufacturers (“ODM”), contract manufacturers, and design houses. Product revenue consists of sales of mixed-signal integrated circuits into the automotive and security surveillance markets. The Company generally requires advance payments from customers and records these advance payments, or contract liabilities, as customer deposits on its condensed consolidated balance sheet. No stock rotation, price protection or return rights are offered. The Company provides product assurance warranty only and does not offer warranties to be purchased separately. Revenue is recognized when control of the product is transferred to the Company's customers, upon shipment, whereby legal title, risks and rewards of ownership, and physical possession are transferred to the customer.
Use of Management's Estimates	Use of Management’s Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the reporting period. Significant estimates included in the consolidated financial statements include inventory valuation and the valuation allowance for recorded deferred tax assets. These estimates are based upon information available as of the date of the condensed consolidated financial statements. Actual results could differ materially from those estimates.
Certain Significant Risks and Uncertainties	ertain Significant Risks and Uncertainties The Company operates in a dynamic industry and can be affected by a variety of factors. For example, any of the following areas could have a negative effect on the Company in terms of its future financial position, results of operations or cash flows: the general state of the U.S., China and world economies; the highly cyclical nature of the industries the Company serves; successful and timely completion of product design efforts; trade restrictions by the United States against the Company's customers in China, or potential retaliatory trade actions taken by China; the loss of any of its larger customers; restrictions on the Company's ability to sell to foreign customers due to additional U.S. or new China trade laws, regulations and requirements; disruptions of the supply chain of components needed for its products; fundamental changes in the technology underlying the Company’s products; the hiring, training and retention of key employees; and new product design introductions by competitors. The Company has been impacted by adverse macroeconomic and geopolitical conditions. These conditions include but are not limited to inflation, foreign currency fluctuations, and supply chain challenges. Management continues to actively monitor the impact of these conditions on the Company’s financial condition, liquidity, operations, end-customers (including its significant end-customers), distributors, suppliers, industry, and workforce. The extent to which such events impact the Company’s business, prospects and results of operations will depend on future developments, which are highly uncertain. The Company has made estimates of the impact of these events within its financial statements and there may be changes to those estimates in future periods.
Concentration of Customer and Credit Risk	Concentration of Customer and Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, investments, and trade receivables. Risks associated with cash and cash equivalents, and investments are mitigated by banking with, and investing in, creditworthy institutions. The Company generally requires advance payments from customers. The Company also performs credit evaluations of its customers and provides credit to certain customers in the normal course of business. The Company has not incurred bad debt write-offs during any of the periods presented. For each significant customer, or distributor, and significant end-customer, revenue as a percentage of total revenue was as follows: Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Customer Customer A 34 % 44 % 35 % 45 % Customer B 13 % * 12 % * End-Customer End-Customer A (1) 20 % 26 % 18 % 26 % * Less than 10% (1) Sales to End-Customer A primarily occurred through Customer A.
Concentration of Supplier Risk	Concentration of Supplier Risk The Company currently relies on Taiwan Semiconductor Manufacturing Company Limited and United Microelectronics Corporation (formerly Fujitsu Electronics America, Inc.) to produce substantially all of its semiconductors. Also, it relies on Advanced Semiconductor Engineering, Inc., Sigurd Microelectronics Corporation, ATX Semiconductor (Shanghai) Co., Ltd, and Chizhou Hisemi Electronics Technology Co., Ltd to assemble, package and test substantially all of its semiconductors to satisfy substantially all of the Company’s production requirements. The failure of any subcontractor to fulfill the production requirements of the Company on a timely basis would adversely impact future results. Although there are other subcontractors that are capable of providing similar services, an unexpected change in either subcontractor would cause delays in the Company’s products and potentially result in a significant loss of revenue.
Recently Issued Accounting Pronouncements Not Yet Adopted	Recently Issued Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosure. This guidance improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. This guidance becomes effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company plans to adopt this guidance prior to its effective date and has not early adopted such guidance for the period ending June 30, 2024. The impact of this guidance is not expected to have any material impact on the disclosure of the Company’s consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvement to income tax disclosure. This guidance modifies the rules on income tax disclosures to require entities to disclose (1) specific categories in the rate reconciliation, (2) the income or loss from continuing operations before income tax expense or benefit (separated between domestic and foreign operations) and (3) income tax expense or benefit from continuing operations (separated by federal, state and foreign operations). This guidance also requires entities to disclose their income tax payments to international, federal and state and local jurisdictions. This guidance becomes effective for fiscal years beginning after December 15, 2024. The Company plans to adopt this guidance prior to the effective date and has not early adopted for the period ending June 30, 2024. The Company expects this guidance to only impact its disclosures and have no material impact on the Company’s consolidated financial statements.
Reclassification	Reclassification Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported current/total assets, current/total liabilities, or results of operations.

Organization and Summary of S_3

Organization and Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Revenue as Percentage of Total Revenue for Each Significant Customer, or Distributor, and Significant End-Customer	For each significant customer, or distributor, and significant end-customer, revenue as a percentage of total revenue was as follows: Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Customer Customer A 34 % 44 % 35 % 45 % Customer B 13 % * 12 % * End-Customer End-Customer A (1) 20 % 26 % 18 % 26 % * Less than 10% (1) Sales to End-Customer A primarily occurred through Customer A.

Balance Sheet Components (Table

Balance Sheet Components (Tables)	6 Months Ended
	Jun. 30, 2024
Balance Sheet Related Disclosures [Abstract]
Components of Inventory	Inventory consists of the following (in thousands): June 30, December 31, 2024 2023 Work in process $ 7,984 $ 4,795 Finished goods 4,275 4,723 Total inventory $ 12,259 $ 9,518
Components of Property and Equipment - Net	Property and equipment, net consists of the following (in thousands): June 30, December 31, 2024 2023 Machinery, computer equipment and software $ 2,633 $ 2,759 Leasehold improvements 94 94 Furniture 38 36 Total property and equipment 2,765 2,889 Less: accumulated depreciation ( 2,361 ) ( 2,367 ) Total property and equipment, net $ 404 $ 522
Summary of Changes in Carrying Amount of Goodwill	Changes in the carrying amount of goodwill for the six months ended June 30, 2024 are as follows (in thousands): Total Goodwill at December 31, 2023 $ 891 Adjustments — Goodwill at June 30, 2024 $ 891
Summary of Intangible Assets Except Goodwill	Intangible assets, except goodwill consist of the following (in thousands): June 30, 2024 Acquired intellectual property $ 1,090 Less: accumulated amortization ( 109 ) Total finite-lived intangible assets, net $ 981
Summary of Expected Amortization Expense	As of June 30, 2024, expected amortization expense for the unamortized finite-lived intangible assets by years is as follows (in thousands): Year Ending December 31, Amount Remainder of 2024 $ 55 2025 109 2026 109 2027 109 2028 109 Thereafter 490 Total $ 981
Components of Accrued Liabilities	Accrued liabilities consisted of the following (in thousands): June 30, December 31, 2024 2023 Payroll-related expenses $ 2,191 $ 983 Engineering service 397 199 Security for the indemnification obligations (1) 300 — Accrued warranty 158 180 Accrued inventory 116 401 Taxes payable 89 468 Professional fees 20 23 Other 45 68 Total accrued liabilities $ 3,316 $ 2,322 (1) In July 2023, the Company acquired certain assets of Broadvis Corporation, including intellectual property and $ 0.3 million that was retained by the Company at closing as security for the indemnification obligations of Broadvis Corporation is expected to be released in January 2025, barring unforeseen circumstances.

Fair Value Measurements of Fi_2

Fair Value Measurements of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Summary of Financial Instruments	Summary of Financial Instruments The following is a summary of financial instruments (in thousands): June 30, 2024 Amortized Cost Gross Unrealized Gain Gross Unrealized Loss Estimated Fair Values Available-for-sale securities: Certificates of deposit $ 1,924 $ — $ ( 1 ) $ 1,923 U.S.Treasury bills and notes 35,458 94 ( 25 ) 35,527 Government agency bonds 518 — ( 1 ) 517 Corporate bonds 6,977 — ( 18 ) 6,959 Total available-for-sale securities $ 44,877 $ 94 $ ( 45 ) $ 44,926 Reported in: Cash and cash equivalents $ 998 Short-term investments 43,928 Long-term investments — Total available-for-sale securities $ 44,926 December 31, 2023 Amortized Cost Gross Unrealized Gain Gross Unrealized Loss Estimated Fair Values Available-for-sale securities: Certificates of deposit $ 3,633 $ 1 $ — $ 3,634 U.S.Treasury bills and notes 37,624 76 — 37,700 Government agency bonds 2,600 — ( 3 ) 2,597 Corporate bonds 11,504 — ( 51 ) 11,453 Total available-for-sale securities $ 55,361 $ 77 $ ( 54 ) $ 55,384 Reported in: Cash and cash equivalents $ 3,096 Short-term investments 51,788 Long-term investments 500 Total available-for-sale securities $ 55,384
Summary of Contractual Maturities of Available-for-sale Securities	The contractual maturities of available-for-sale securities are presented in the following table (in thousands): June 30, 2024 December 31, 2023 Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value Due in one year or less $ 44,877 $ 44,926 $ 54,859 $ 54,884 Due between one to two years — — 502 500 $ 44,877 $ 44,926 $ 55,361 $ 55,384
Schedule of Financial Instruments Measured at Fair Value	Financial assets measured at fair value on a recurring basis were as follows (in thousands): Fair Value Measurement at Reporting Date Using Quoted Prices in Significant Total As of June 30, 2024 Financial assets - available-for-sale securities Certificates of deposit $ — $ 1,923 $ 1,923 U.S.Treasury bills and notes — 35,527 35,527 Governmental agency bonds — 517 517 Corporate bonds 6,959 — 6,959 Total financial assets - available-for-sale securities $ 6,959 $ 37,967 $ 44,926 As of December 31, 2023 Financial assets - available-for-sale securities Certificates of deposit $ — $ 3,634 $ 3,634 U.S.Treasury bills and notes 2,198 35,502 37,700 Governmental agency bonds 600 1,997 2,597 Corporate bonds 10,953 500 11,453 Total financial assets - available-for-sale securities $ 13,751 $ 41,633 $ 55,384

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Product Revenue from Customer by Geographic Region	Product revenue from customers is designated based on the geographic region to which the product is delivered. Revenue by geographic region was as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 China $ 12,410 $ 11,233 $ 24,637 $ 21,752 Taiwan 2,445 2,291 4,785 4,062 South Korea 1,221 1,390 2,382 2,763 Japan 170 326 362 707 Other 533 58 924 156 Total revenue $ 16,779 $ 15,298 $ 33,090 $ 29,440
Schedule of Revenue by Principal Products Lines	Revenue by principal product lines was as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Automotive $ 12,386 $ 9,930 $ 24,867 $ 18,727 Security surveillance 4,393 5,368 8,223 10,713 Total revenue $ 16,779 $ 15,298 $ 33,090 $ 29,440
Schedule of Long-lived Assets by Geographic Region	Long-lived assets by geographic region were as follows (in thousands): June 30, December 31, 2024 2023 Taiwan $ 280 $ 308 China 100 176 United States 13 29 South Korea 8 6 Japan 3 3 Total property and equipment, net $ 404 $ 522

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Summary of Right of Use Assets and Lease Liabilities Related to Operating Leases	The right-of-use assets and lease liabilities related to operating leases were as follows (in thousands): June 30, December 31, 2024 2023 Right-of-use assets $ 739 $ 1,045 Lease liabilities - Current $ 433 $ 497 Lease liabilities - Non-Current 346 531 Total lease liabilities $ 779 $ 1,028
Schedule of Lease Costs and Weighted-Average Assumptions Used in Determining its Right-of-Use Assets and Lease Liabilities	The following tables summarize the Company’s lease costs and weighted-average assumptions used in determining its right-of-use assets and lease liabilities (in thousands): Six Months Ended Six Months Ended June 30, 2024 June 30, 2023 Operating lease cost $ 393 $ 380 Cash paid for operating leases $ 336 $ 385 Right-of-use assets obtained in exchange for operating lease liabilities (1) $ 58 $ 26 Weighted average remaining term for operating leases 1.73 years 0.92 years Weighted average discount rate for operating leases 8.2 % 5.8 % (1) During the six months ended June 30, 2024, the Company e xtended the term of its lease in Taiwan; the Taiwan lease was treated as a modification but not as a separate contract, as no additional right-of-use was granted. The Taiwan lease modification was accounted for as a non-cash change in existing lease liabilities and the right-of-use assets.
Schedule of Aggregate Future Minimum Lease Payments Under Non-cancelable Operating Leases	As of June 30, 2024, the aggregate future minimum lease payments under non-cancelable operating leases consist of the following (in thousands): Year Ending December 31, Amount 2024 (remaining six months) $ 276 2025 417 2026 157 Total 850 Less effects of discounting ( 71 ) Total lease liabilities $ 779

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Schedule of Number of Shares of Common Stock Reserved for Future Issuances	The Company has reserved the following number of shares of common stock for future issuances: June 30, 2024 Outstanding stock awards 980,469 Shares available for future issuance under the 2017 Stock Incentive Plan 7,016,775 Total common stock reserved for future issuances 7,997,244

Equity Incentive Plans (Tables)

Equity Incentive Plans (Tables)	6 Months Ended
	Jun. 30, 2024
Summary of Stock Options Outstanding and Exercisable by Exercise Price	The stock options outstanding and exercisable by exercise price as of June 30, 2024 are as follows: Options Outstanding, Vested and Exercisable Exercise Price Number Weighted- Weighted- $ 0.37 10,000 1.1 $ 0.37 0.97 8,000 1.4 0.97 2.51 46,780 2.2 2.51 2.89 40,000 2.7 2.89 2.93 218,734 3.0 2.93 3.18 79,567 3.1 3.18 403,081 2.8 2.82
Summary of Restricted Stock Units Activity	The Company’s restricted stock units activity is summarized as follows: Units Weighted-Average As of December 31, 2023 620,525 $ 7.63 Granted 58,000 8.28 Released, net ( 83,808 ) 8.90 Canceled ( 17,329 ) 9.45 As of June 30, 2024 577,388 7.65
2017 Plan
Summary of Stock Award and Option Activity Under Stock Incentive Plan	The Company’s stock award activity under the 2017 Plan is summarized as follows: Awards Available for As of December 31, 2023 7,057,446 Authorized — Granted ( 58,000 ) Canceled 17,329 As of June 30, 2024 7,016,775 The Company’s stock option activity under the 2017 Plan is summarized as follows: Options Weighted- Weighted- Aggregate As of December 31, 2023 431,081 $ 2.81 3.3 $ 3,305 Granted — — Exercised ( 28,000 ) 2.56 Canceled — — As of June 30, 2024 403,081 2.82 2.8 1,992 Options vested and exercisable as of June 30, 2024 403,081 2.82 2.8 1,992

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Distribution of Stock-Based Compensation Expense	The following table summarizes the distribution of stock-based compensation expense (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Cost of revenue $ 27 $ 40 $ 57 $ 76 Research and development 150 115 300 234 Selling, general and administrative 218 213 437 420 Total $ 395 $ 368 $ 794 $ 730

Net Income Per Share (Tables)

Net Income Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Computation of Basic and Diluted Net Income Per Share	The following table presents the calculation of basic and diluted net income per share (amounts in thousands, except share and per share data): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Numerator: Basic and Diluted: Net income $ 4,336 $ 4,050 $ 8,716 $ 7,426 Denominator: Basic shares: Weighted-average shares outstanding used in computing basic 18,464,483 18,294,629 18,452,766 18,263,029 Diluted shares: Effect of potentially dilutive securities: Stock options and restricted stock units 402,060 311,009 454,193 327,892 Weighted-average shares used in computing diluted net 18,866,543 18,605,638 18,906,959 18,590,921 Net income per share: Basic $ 0.23 $ 0.22 $ 0.47 $ 0.41 Diluted $ 0.23 $ 0.22 $ 0.46 $ 0.40

Provision for Income Taxes (Tab

Provision for Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Schedule of Components of Income Before Income Taxes	The components of income before income taxes were as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Domestic $ 4,859 $ 4,599 $ 9,762 $ 8,321 Foreign 70 9 132 69 Income before income taxes $ 4,929 $ 4,608 $ 9,894 $ 8,390
Schedule of Components of Provision for Income Taxes	The components of the provision for income taxes were as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 United States $ 582 $ 556 $ 1,159 $ 956 Foreign 11 2 19 8 Provision for income taxes $ 593 $ 558 $ 1,178 $ 964

Organization and Summary of S_4

Organization and Summary of Significant Accounting Policies - Additional Information (Details)	6 Months Ended
	Jun. 30, 2024
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Company Incorporation place	DE
California
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Company original incorporation date of incorporation	2012-04
Company Incorporation place	CA
Delaware
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Company Incorporation place	DE
Company reincorporation incorporation date of incorporation	2017-07

Organization and Summary of S_5

Organization and Summary of Significant Accounting Policies - Summary of Revenue as Percentage of Total Revenue for Each Significant Customer, or Distributor, and Significant End-Customer (Details) - Sales Revenue, Net - Customer Concentration Risk	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Customer A
Product Information [Line Items]
Concentration risk, percentage	34%	44%	35%	45%
Customer B
Product Information [Line Items]
Concentration risk, percentage	13%		12%
End-Customer A
Product Information [Line Items]
Concentration risk, percentage	20%	26%	18%	26%

Balance Sheet Components - Comp

Balance Sheet Components - Components of Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Work in process	$ 7,984	$ 4,795
Finished goods	4,275	4,723
Total inventory	$ 12,259	$ 9,518

Balance Sheet Components - Co_2

Balance Sheet Components - Components of Property and Equipment - Net (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 2,765	$ 2,889
Less: accumulated depreciation	(2,361)	(2,367)
Total property and equipment, net	404	522
Machinery, Computer Equipment and Software
Property Plant And Equipment [Line Items]
Property and equipment, gross	2,633	2,759
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment, gross	94	94
Furniture
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 38	$ 36

Balance Sheet Components - Addi

Balance Sheet Components - Additional Information (Details) - USD ($)	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Depreciation	$ 100,000		$ 100,000	$ 100,000	$ 200,000
Goodwill	891,000			891,000		$ 891,000
Payments received in advance of shipments	771,000			771,000		$ 1,448,000
Company recognized revenue	$ 800,000	$ 1,400,000
Amortization expenses of intangible assets				$ 54,000,000	$ 0
Estimated amortization period	10 years			10 years

Balance Sheet Components - Summ

Balance Sheet Components - Summary of Changes in Carrying Amount of Goodwill (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill beginning balance	$ 891
Goodwill ending balance	$ 891

Balance Sheet Components - Su_2

Balance Sheet Components - Summary of Intangible Assets Except Goodwill (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Acquired intellectual property	$ 1,090
Less: accumulated amortization	(109)
Total finite-lived intangible assets, net	$ 981

Balance Sheet Components - Su_3

Balance Sheet Components - Summary of Expected Amortization Expense (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remainder of 2024	$ 55
2025	109
2026	109
2027	109
2028	109
Thereafter	490
Total finite-lived intangible assets, net	$ 981

Balance Sheet Components - Co_3

Balance Sheet Components - Components of Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jul. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Payroll-related expenses	$ 2,191	$ 983
Engineering service	397	199
Security for the indemnification obligations	300		$ 300
Accrued warranty	158	180
Accrued inventory	116	401
Taxes payable	89	468
Professional fees	20	23
Other	45	68
Total accrued liabilities	$ 3,316	$ 2,322

Balance Sheet Components - Co_4

Balance Sheet Components - Components of Accrued Liabilities (Parenthetical) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jul. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Security for the indemnification obligations	$ 300	$ 300

Fair Value Measurements of Fi_3

Fair Value Measurements of Financial Instruments - Summary of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	$ 44,877	$ 55,361
Gross Unrealized Gain	94	77
Gross Unrealized Loss	(45)	(54)
Estimated Fair Values	44,926	55,384
Certificates of Deposit
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	1,924	3,633
Gross Unrealized Gain		1
Gross Unrealized Loss	(1)
Estimated Fair Values	1,923	3,634
U.S.Treasury Bills and Notes
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	35,458	37,624
Gross Unrealized Gain	94	76
Gross Unrealized Loss	(25)
Estimated Fair Values	35,527	37,700
Government Agency Bonds
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	518	2,600
Gross Unrealized Loss	(1)	(3)
Estimated Fair Values	517	2,597
Corporate Bonds
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	6,977	11,504
Gross Unrealized Loss	(18)	(51)
Estimated Fair Values	6,959	11,453
Cash and Cash Equivalents
Schedule Of Available For Sale Securities [Line Items]
Estimated Fair Values	998	3,096
Short-term Investments
Schedule Of Available For Sale Securities [Line Items]
Estimated Fair Values	$ 43,928	51,788
Long-term investments
Schedule Of Available For Sale Securities [Line Items]
Estimated Fair Values		$ 500

Fair Value Measurements of Fi_4

Fair Value Measurements of Financial Instruments - Summary of Contractual Maturities of Available-for-sale Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Securities, Available-for-Sale [Abstract]
Amortized Cost, Due in one year or less	$ 44,877	$ 54,859
Amortized Cost, Due between one to two years		502
Amortized Cost	44,877	55,361
Estimated Fair Value, Due in one year or less	44,926	54,884
Estimated Fair Value, Due between one to two years		500
Estimated Fair Value	$ 44,926	$ 55,384

Fair Value Measurements of Fi_5

Fair Value Measurements of Financial Instruments - Additional Information (Details)	6 Months Ended
	Jun. 30, 2024 USD ($) Investment	Jun. 30, 2023 USD ($)
Debt Securities, Available-for-Sale [Abstract]
Number of investments in unrealized loss positions | Investment	51
Number of investment in unrealized loss positions less than twelve months | Investment	38
Fair value of investments	$ 38,700,000
Unrealized losses on investments	100,000
Other-than-temporary impairments associated with investments	0
Sales of available-for-sale securities	$ 0	$ 0

Fair Value Measurements of Fi_6

Fair Value Measurements of Financial Instruments - Schedule of Financial Assets Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Financial assets - available-for-sale securities
Total financial assets - available-for-sale securities	$ 44,926	$ 55,384
Certificates of Deposit
Financial assets - available-for-sale securities
Total financial assets - available-for-sale securities	1,923	3,634
U.S.Treasury Bills and Notes
Financial assets - available-for-sale securities
Total financial assets - available-for-sale securities	35,527	37,700
Government Agency Bonds
Financial assets - available-for-sale securities
Total financial assets - available-for-sale securities	517	2,597
Corporate Bonds
Financial assets - available-for-sale securities
Total financial assets - available-for-sale securities	6,959	11,453
Fair Value Measurements Recurring
Financial assets - available-for-sale securities
Total financial assets - available-for-sale securities	44,926	55,384
Fair Value Measurements Recurring | Certificates of Deposit
Financial assets - available-for-sale securities
Total financial assets - available-for-sale securities	1,923	3,634
Fair Value Measurements Recurring | U.S.Treasury Bills and Notes
Financial assets - available-for-sale securities
Total financial assets - available-for-sale securities	35,527	37,700
Fair Value Measurements Recurring | Government Agency Bonds
Financial assets - available-for-sale securities
Total financial assets - available-for-sale securities	517	2,597
Fair Value Measurements Recurring | Corporate Bonds
Financial assets - available-for-sale securities
Total financial assets - available-for-sale securities	6,959	11,453
Fair Value Measurements Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial assets - available-for-sale securities
Total financial assets - available-for-sale securities	6,959	13,751
Fair Value Measurements Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S.Treasury Bills and Notes
Financial assets - available-for-sale securities
Total financial assets - available-for-sale securities		2,198
Fair Value Measurements Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Government Agency Bonds
Financial assets - available-for-sale securities
Total financial assets - available-for-sale securities		600
Fair Value Measurements Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate Bonds
Financial assets - available-for-sale securities
Total financial assets - available-for-sale securities	6,959	10,953
Fair Value Measurements Recurring | Significant Other Observable Inputs (Level 2)
Financial assets - available-for-sale securities
Total financial assets - available-for-sale securities	37,967	41,633
Fair Value Measurements Recurring | Significant Other Observable Inputs (Level 2) | Certificates of Deposit
Financial assets - available-for-sale securities
Total financial assets - available-for-sale securities	1,923	3,634
Fair Value Measurements Recurring | Significant Other Observable Inputs (Level 2) | U.S.Treasury Bills and Notes
Financial assets - available-for-sale securities
Total financial assets - available-for-sale securities	35,527	35,502
Fair Value Measurements Recurring | Significant Other Observable Inputs (Level 2) | Government Agency Bonds
Financial assets - available-for-sale securities
Total financial assets - available-for-sale securities	$ 517	1,997
Fair Value Measurements Recurring | Significant Other Observable Inputs (Level 2) | Corporate Bonds
Financial assets - available-for-sale securities
Total financial assets - available-for-sale securities		$ 500

Segment Information - Additiona

Segment Information - Additional Information (Details)	6 Months Ended
	Jun. 30, 2024 Segment
Segment Reporting [Abstract]
Number of reportable segments	1
Number of operating segments	1

Segment Information - Schedule

Segment Information - Schedule of Product Revenue from Customers by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues From External Customers And Long Lived Assets [Line Items]
Revenue	$ 16,779	$ 15,298	$ 33,090	$ 29,440
China
Revenues From External Customers And Long Lived Assets [Line Items]
Revenue	12,410	11,233	24,637	21,752
Taiwan
Revenues From External Customers And Long Lived Assets [Line Items]
Revenue	2,445	2,291	4,785	4,062
South Korea
Revenues From External Customers And Long Lived Assets [Line Items]
Revenue	1,221	1,390	2,382	2,763
Japan
Revenues From External Customers And Long Lived Assets [Line Items]
Revenue	170	326	362	707
Other
Revenues From External Customers And Long Lived Assets [Line Items]
Revenue	$ 533	$ 58	$ 924	$ 156

Segment Information - Schedul_2

Segment Information - Schedule of Revenue by Principal Product Lines (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Entity Wide Information Revenue From External Customer [Line Items]
Revenue	$ 16,779	$ 15,298	$ 33,090	$ 29,440
Automotive
Entity Wide Information Revenue From External Customer [Line Items]
Revenue	12,386	9,930	24,867	18,727
Security Surveillance
Entity Wide Information Revenue From External Customer [Line Items]
Revenue	$ 4,393	$ 5,368	$ 8,223	$ 10,713

Segment Information - Schedul_3

Segment Information - Schedule of Long-Lived Assets by Geographic Region (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Revenues From External Customers And Long Lived Assets [Line Items]
Total property and equipment - net	$ 404	$ 522
Taiwan
Revenues From External Customers And Long Lived Assets [Line Items]
Total property and equipment - net	280	308
China
Revenues From External Customers And Long Lived Assets [Line Items]
Total property and equipment - net	100	176
United States
Revenues From External Customers And Long Lived Assets [Line Items]
Total property and equipment - net	13	29
South Korea
Revenues From External Customers And Long Lived Assets [Line Items]
Total property and equipment - net	8	6
Japan
Revenues From External Customers And Long Lived Assets [Line Items]
Total property and equipment - net	$ 3	$ 3

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($) Litigation	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) Litigation	Jun. 30, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Non-cancelable operating lease agreements, expiration description			non-cancelable lease agreements expiring through fiscal year 2026.
Rent expense under operating leases	$ 200,000	$ 200,000	$ 400,000	$ 400,000
Rent expense recognized from short-term leases	6,000	$ 6,000	12,000	$ 12,000
Future minimum payments under purchase commitments for the year ended December 31, 2024	700,000		700,000
Future minimum payments under purchase commitments for the year ended December 31, 2025	700,000		700,000
Future minimum payments under purchase commitments for the year ended December 31, 2026	$ 300,000		$ 300,000
Number of litigation | Litigation	0		0

Commitments and Contingencies_2

Commitments and Contingencies - Summary of Right of Use Assets and Lease Liabilities Related to Operating Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Assets and Liabilities, Lessee [Abstract]
Right-of-use assets	$ 739	$ 1,045
Lease liabilities - Current	433	497
Lease liabilities - Non-Current	$ 346	$ 531
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other liabilities	Other liabilities
Total lease liabilities	$ 779	$ 1,028

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Lease Costs and Weighted-Average Assumptions Used in Determining its Right-of-Use Assets and Lease Liabilities (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Operating lease cost	$ 393	$ 380
Cash paid for operating leases	336	385
Right-of-use assets obtained in exchange for operating lease liabilities	$ 58	$ 26
Weighted average remaining term for operating leases	1 year 8 months 23 days	11 months 1 day
Weighted average discount rate for operating leases	8.20%	5.80%

Commitments and Contingencies_4

Commitments and Contingencies - Schedule of Aggregate Future Minimum Lease Payments Under Non-cancelable Operating Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
2024 (remaining six months)	$ 276
2025	417
2026	157
Total	850
Less effects of discounting	(71)
Total lease liabilities	$ 779	$ 1,028

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) $ / shares in Units, $ in Thousands			3 Months Ended		6 Months Ended
	Dec. 15, 2023 USD ($) Installment $ / shares	Dec. 16, 2022 USD ($) Installment $ / shares	Jun. 30, 2024 $ / shares shares	Jun. 30, 2023 $ / shares	Jun. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2023 USD ($)	May 31, 2024 $ / shares	Dec. 31, 2023 $ / shares shares	Jun. 02, 2023 $ / shares
Class of Stock [Line Items]
Preferred stock, shares authorized			5,000,000		5,000,000			5,000,000
Preferred stock, par value | $ / shares			$ 0.0001		$ 0.0001			$ 0.0001
Preferred stock, shares issued			0		0			0
Preferred stock, shares outstanding			0		0			0
Common stock shares authorized			75,000,000		75,000,000			75,000,000
Common stock par value | $ / shares			$ 0.0001		$ 0.0001			$ 0.0001
Common stock shares issued			18,507,490		18,507,490			18,395,682
Common stock shares outstanding			18,507,490		18,507,490			18,395,682
Dividends payable, date declared		Dec. 16, 2022			Dec. 15, 2023
Cash dividends declared per share | $ / shares	$ 0.5	$ 0.5	$ 0.25	$ 0.25
Number of dividend payable installment | Installment	2	2
Dividends payable, amount per share | $ / shares	$ 0.25	$ 0.25
Dividend accrued | $	$ 4,600	$ 4,600
Dividend paid | $	$ 9,000	$ 9,100			$ 4,603	$ 4,555
Dividends payable, date of record					Jan. 31, 2024
First Installment of Dividend
Class of Stock [Line Items]
Dividends payable, date of record					Jan. 31, 2023
Second Installment of Dividend
Class of Stock [Line Items]
Dividends payable, amount per share | $ / shares							$ 0.25		$ 0.25

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Number of Shares of Common Stock Reserved for Future Issuances (Details)	Jun. 30, 2024 shares
Class Of Stock [Line Items]
Common stock reserved for future issuances	7,997,244
Outstanding Stock Awards
Class Of Stock [Line Items]
Common stock reserved for future issuances	980,469
Shares Available for Future Issuance under 2017 Stock Incentive Plan
Class Of Stock [Line Items]
Common stock reserved for future issuances	7,016,775

Equity Incentive Plans - Additi

Equity Incentive Plans - Additional Information (Details) $ in Millions		1 Months Ended		6 Months Ended
	Jan. 01, 2024	Sep. 30, 2017 shares	Apr. 30, 2012	Jun. 30, 2024 USD ($) shares	Jun. 30, 2023 USD ($)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, additional awards				0
Common stock reserved for future issuances				7,997,244
Share-based compensation arrangement by share-based payment award, aggregate intrinsic value of options exercised | $				$ 0.2	$ 0.1
Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, options vesting period				5 years
Share-based compensation arrangement by share-based payment award, stock awards conversion ratio				1
2012 Stock Option Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, options vesting term of award				The 2012 Plan provides for the granting of stock-based awards to employees, directors, and consultants under terms and provisions established by the Company’s board of directors. Under the terms of the 2012 Plan, options may be granted at an exercise price not less than fair market value. For employees holding more than 10% of the voting rights of all classes of stock, the exercise prices for incentive and non-statutory stock options must be at least 110% of the fair market value of the common stock on the grant date, as determined by the Company’s board of directors. The terms of options granted under the 2012 Plan may not exceed ten years.
Share-based compensation arrangement by share-based payment award, additional awards		0
Common stock reserved for future issuances		0
2012 Stock Option Plan | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, percentage of voting rights of all classes of stock to be owned by employees to determine stock options exercise price on grant date			10%
Share-based compensation arrangement by share-based payment award, exercise prices percentage of fair market value of common stock on grant date			110%
2012 Stock Option Plan | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, Options exercisable period			10 years
Two Thousand Seventeen Stock Option Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, options vesting term of award				Options granted generally vest over a five-year period and generally are exercisable for up to 10 years
Share based compensation arrangement by share based payment award number of shares authorized increment description				The number of shares available for issuance under the 2017 Plan can be automatically increased on the first day of each fiscal year beginning on January 1, 2018 and ending on (and including) January 1, 2027, in an amount equal to the lesser of (1) 4% of the outstanding shares of the Company’s common stock on the last day of the immediately preceding fiscal year, or (2) another amount determined by the Company’s board of directors.
Automatic increase in number of shares authorized under stock option plan, start date				Jan. 01, 2018
Automatic increase in number of shares authorized under stock option plan, end date				Jan. 01, 2027
Share-based compensation arrangement by share-based payment award, percentage of annual increase in number of shares authorized of outstanding shares of common stock	4%
Share-based compensation arrangement by share-based payment award, options vesting period				5 years
Two Thousand Seventeen Stock Option Plan | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, Options exercisable period				10 years
Share-based compensation arrangement by share-based payment award, percentage of annual increase in number of shares authorized of outstanding shares of common stock		4%

Equity Incentive Plans - Summar

Equity Incentive Plans - Summary of Stock Awards and Option Activity Under Stock Incentive Plan (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Awards Available for Grant, Beginning balance	7,057,446
Awards Available for Grant, Authorized	0
Awards Available for Grant, Granted	(58,000)
Awards Available for Grant, Canceled	17,329
Awards Available for Grant, Ending balance	7,016,775	7,057,446
Options Issued and Outstanding, Beginning balance	431,081
Options Issued and Outstanding, Exercised	(28,000)
Options Issued and Outstanding, Ending balance	403,081	431,081
Options Issued and Outstanding, Options vested and exercisable	403,081
Weighted Average Exercise Price, Beginning balance	$ 2.81
Weighted Average Exercise Price, Exercised	2.56
Weighted Average Exercise Price, Ending balance	2.82	$ 2.81
Weighted Average Exercise Price, Options vested and exercisable	$ 2.82
Weighted-Average Remaining Contractual Term	2 years 9 months 18 days	3 years 3 months 18 days
Weighted-Average Remaining Contractual Term, Options vested and exercisable	2 years 9 months 18 days
Aggregate Intrinsic Value	$ 1,992	$ 3,305
Aggregate Intrinsic Value, Options vested and exercisable	$ 1,992

Equity Incentive Plans - Summ_2

Equity Incentive Plans - Summary of Stock Options Outstanding and Exercisable by Exercise Price (Details)	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options Outstanding, Vested and Exercisable, Number | shares	403,081
Options Outstanding, Vested and Exercisable, Weighted-Average Remaining Contractual Life (Years)	2 years 9 months 18 days
Options Outstanding, Vested and Exercisable, Weighted-Average Exercise Price	$ 2.82
Exercise Price 0.37
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise Price	$ 0.37
Options Outstanding, Vested and Exercisable, Number | shares	10,000
Options Outstanding, Vested and Exercisable, Weighted-Average Remaining Contractual Life (Years)	1 year 1 month 6 days
Options Outstanding, Vested and Exercisable, Weighted-Average Exercise Price	$ 0.37
Exercise Price 0.97
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise Price	$ 0.97
Options Outstanding, Vested and Exercisable, Number | shares	8,000
Options Outstanding, Vested and Exercisable, Weighted-Average Remaining Contractual Life (Years)	1 year 4 months 24 days
Options Outstanding, Vested and Exercisable, Weighted-Average Exercise Price	$ 0.97
Exercise Price 2.51
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise Price	$ 2.51
Options Outstanding, Vested and Exercisable, Number | shares	46,780
Options Outstanding, Vested and Exercisable, Weighted-Average Remaining Contractual Life (Years)	2 years 2 months 12 days
Options Outstanding, Vested and Exercisable, Weighted-Average Exercise Price	$ 2.51
Exercise Price 2.89
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise Price	$ 2.89
Options Outstanding, Vested and Exercisable, Number | shares	40,000
Options Outstanding, Vested and Exercisable, Weighted-Average Remaining Contractual Life (Years)	2 years 8 months 12 days
Options Outstanding, Vested and Exercisable, Weighted-Average Exercise Price	$ 2.89
Exercise Price 2.93
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise Price	$ 2.93
Options Outstanding, Vested and Exercisable, Number | shares	218,734
Options Outstanding, Vested and Exercisable, Weighted-Average Remaining Contractual Life (Years)	3 years
Options Outstanding, Vested and Exercisable, Weighted-Average Exercise Price	$ 2.93
Exercise Price 3.18
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise Price	$ 3.18
Options Outstanding, Vested and Exercisable, Number | shares	79,567
Options Outstanding, Vested and Exercisable, Weighted-Average Remaining Contractual Life (Years)	3 years 1 month 6 days
Options Outstanding, Vested and Exercisable, Weighted-Average Exercise Price	$ 3.18

Equity Incentive Plans - Summ_3

Equity Incentive Plans - Summary of Restricted Stock Units Activity (Details) - Restricted Stock Units	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Units Issued and Outstanding, Beginning balance | shares	620,525
Units Issued and Outstanding, Granted | shares	58,000
Units Issued and Outstanding, Released, net | shares	(83,808)
Units Issued and Outstanding, Canceled | shares	(17,329)
Units Issued and Outstanding, Ending balance | shares	577,388
Weighted-Average Grant Date Fair Value, Beginning balance | $ / shares	$ 7.63
Weighted-Average Grant Date Fair Value, Granted | $ / shares	8.28
Weighted-Average Grant Date Fair Value, Released, net | $ / shares	8.9
Weighted-Average Grant Date Fair Value, Canceled | $ / shares	9.45
Weighted-Average Grant Date Fair Value, Ending balance | $ / shares	$ 7.65

Stock-Based Compensation - Dist

Stock-Based Compensation - Distribution of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share Based Compensation Expense [Line Items]
Stock-based compensation	$ 395	$ 368	$ 794	$ 730
Cost of Revenue
Share Based Compensation Expense [Line Items]
Stock-based compensation	27	40	57	76
Research and Development
Share Based Compensation Expense [Line Items]
Stock-based compensation	150	115	300	234
Selling, General and Administrative
Share Based Compensation Expense [Line Items]
Stock-based compensation	$ 218	$ 213	$ 437	$ 420

Net Income Per Share - Computat

Net Income Per Share - Computation of Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Basic and diluted:
Net Income (Loss)	$ 4,336	$ 4,380	$ 4,050	$ 3,376	$ 8,716	$ 7,426
Denominator:
Weighted-average shares outstanding used in computing basic net income per share	18,464,483		18,294,629		18,452,766	18,263,029
Effect of potentially dilutive securities:
Stock options and restricted stock units	402,060		311,009		454,193	327,892
Weighted-average shares used in computing diluted net income per share	18,866,543		18,605,638		18,906,959	18,590,921
Net income per share:
Basic	$ 0.23		$ 0.22		$ 0.47	$ 0.41
Diluted	$ 0.23		$ 0.22		$ 0.46	$ 0.40

Net Income Per Share - Addition

Net Income Per Share - Additional Information (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share amount	124,000	299,000	78,000	269,000

Provision for Income Taxes - Sc

Provision for Income Taxes - Schedule of Components of Income Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Domestic	$ 4,859	$ 4,599	$ 9,762	$ 8,321
Foreign	70	9	132	69
Income before income taxes	$ 4,929	$ 4,608	$ 9,894	$ 8,390

Provision for Income Taxes - _2

Provision for Income Taxes - Schedule of Components of Provision for Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
United States	$ 582	$ 556	$ 1,159	$ 956
Foreign	11	2	19	8
Provision for income taxes	$ 593	$ 558	$ 1,178	$ 964

Provision for Income Taxes - Ad

Provision for Income Taxes - Additional Information (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Income Tax [Line Items]
Unrecognized tax benefits	$ 0
Unrecognized tax benefits netted against deferred tax assets valuation allowance	$ 0
Description of uncertain income tax position	The Company applies the provisions of the applicable accounting guidance regarding accounting for uncertainty in income taxes, which require application of a more-likely-than-not threshold to the recognition and derecognition of uncertain tax positions. If the recognition threshold is met, the applicable accounting guidance permits the recognition of a tax benefit measured at the largest amount of such tax benefit that, in the Company’s judgment, is more than fifty percent likely to be realized upon settlement.
Unrecognized tax benefits against effective tax rate	$ 0
State
Income Tax [Line Items]
Examination by tax authorities	2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022