Arteris, Inc.
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
|
Nine Months Ended
September 30, | |||||||
| 2023 | 2022 | ||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||
| Net loss | $ | (26,328 | ) | $ | (20,172 | ) | |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||||||
| Depreciation and amortization | 2,240 | 1,568 | |||||
| Stock-based compensation | 10,981 | 9,082 | |||||
| Amortization of deferred income | (882 | ) | (94 | ) | |||
| Loss from equity method investment | 2,487 | — | |||||
| Net accretion of discounts on available-for-sale securities | (698 | ) | — | ||||
| Gain on deconsolidation of subsidiary | — | (149 | ) | ||||
| Other, net | (3 | ) | 6 | ||||
| Changes in operating assets and liabilities: | |||||||
| Accounts receivable, net | (3,225 | ) | 4,234 | ||||
| Prepaid expenses and other assets | (495 | ) | (1,799 | ) | |||
| Accounts payable | (237 | ) | 408 | ||||
| Accrued expenses and other liabilities | 1,544 | 23 | |||||
| Deferred revenue | 1,866 | 517 | |||||
| Net cash used in operating activities | (12,750 | ) | (6,376 | ) | |||
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||
| Purchases of property and equipment | (1,075 | ) | (655 | ) | |||
| Purchases of available-for-sale securities and other | (35,373 | ) | (6,399 | ) | |||
| Proceeds from maturities of available-for-sale securities | 33,150 | — | |||||
| Payments relating to investment in equity method investment | — | (520 | ) | ||||
| Proceeds from principal portion of related party loan | — | 241 | |||||
| Other | (25 | ) | — | ||||
| Net cash used in investing activities | (3,323 | ) | (7,333 | ) | |||
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||
| Payments of contingent consideration for business combination | (1,269 | ) | (1,573 | ) | |||
| Principal payments under vendor financing arrangements | (1,041 | ) | (635 | ) | |||
| Proceeds from exercise of stock options | 460 | 601 | |||||
| Payments to tax authorities for shares withheld from employees | (564 | ) | (2,053 | ) | |||
| Payments of deferred offering costs | — | (256 | ) | ||||
| Other | 79 | — | |||||
| Net cash used in financing activities | (2,335 | ) | (3,916 | ) | |||
| NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | (18,408 | ) | (17,625 | ) | |||
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period | 37,423 | 85,825 | |||||
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period | $ | 19,015 | $ | 68,200 | |||
