Arteris Announces Financial Results for the Second Quarter 2023

Arteris Announces Financial Results for the Second Quarter 2023 and Estimated Third Quarter and Full Year 2023 Guidance

Arteris, Inc Condensed Consolidated Balance Sheets (In thousands, except share and per share data) (unaudited)

	As of
	June 30, 2023			December 31, 2022
ASSETS
Current assets:
Cash and cash equivalents	$	26,334		$	37,423
Short-term investments		28,640			30,728
Accounts receivable, net of allowance of $250 for both periods		9,582			7,143
Prepaid expenses and other current assets		5,856			5,818
Total current assets		70,412			81,112
Property and equipment, net		5,171			3,617
Long-term investments		5,838			4,427
Equity method investment		10,329			11,897
Operating lease right-of-use assets		1,859			1,883
Intangibles, net		4,192			4,575
Goodwill		4,178			4,218
Other assets		4,847			3,787
TOTAL ASSETS	$	106,826		$	115,516
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	210		$	572
Accrued expenses and other current liabilities		10,825			12,095
Operating lease liabilities, current		709			899
Deferred revenue, current		30,413			28,839
Vendor financing arrangements, current		1,581			1,264
Total current liabilities		43,738			43,669
Deferred revenue, noncurrent		22,963			21,840
Operating lease liabilities, noncurrent		1,181			1,009
Vendor financing arrangements, noncurrent		1,348			448
Deferred income, noncurrent		9,405			9,993
Other liabilities		1,271			1,022
Total liabilities		79,906			77,981
Stockholders' equity:
Preferred stock, par value of $0.001 - 10,000,000 shares authorized and no shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively		—			—
Common stock, par value of $0.001 - 300,000,000 shares authorized as of June 30, 2023 and December 31, 2022; 36,033,361 and 34,625,875 shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively		36			34
Additional paid-in capital		111,403			103,778
Accumulated other comprehensive income		34			101
Accumulated deficit		(84,553	)		(66,378	)
Total stockholders' equity		26,920			37,535
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	106,826		$	115,516

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