Arteris Announces Financial Results for the First Quarter 2024

Arteris Announces Financial Results for the First Quarter 2024 and Second Quarter and Full Year 2024 Guidance

Arteris, Inc. Condensed Consolidated Statements of Cash Flows (In thousands) (Unaudited)

	Three Months Ended March 31,
		2024			2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(9,403	)	$	(9,010	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		833			601
Stock-based compensation		3,657			2,985
Amortization of deferred income		(294	)		(291	)
Loss from equity method investment		759			834
Net accretion of discounts on available-for-sale securities		(181	)		(259	)
Other, net		31			27
Changes in operating assets and liabilities:
Accounts receivable, net		(262	)		(2,607	)
Prepaid expenses and other assets		479			364
Accounts payable		546			555
Accrued expenses and other liabilities		904			(974	)
Deferred revenue		3,408			(614	)
Net cash provided by (used in) operating activities		477			(8,389	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment		(196	)		(120	)
Purchases of available-for-sale securities and other		(3,421	)		(4,909	)
Proceeds from maturities of available-for-sale securities and other		15,519			5,450
Net cash provided by investing activities		11,902			421
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments of contingent consideration for business combination		—			(1,000	)
Principal payments under vendor financing arrangements		(197	)		(192	)
Proceeds from exercise of stock options		241			256
Payments to tax authorities for shares withheld from employees		—			(14	)
Net cash provided by (used in) financing activities		44			(950	)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH		12,423			(8,918	)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period		14,084			37,423
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period	$	26,507		$	28,505

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