|
SILVACO GROUP, INC. |
|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |
| (Unaudited, in thousands) |
| |
Six Months Ended June 30, |
| | |
2024 | | | |
2023 | |
| Cash flows from operating activities: | | | |
| Net (loss) income |
$ |
(37,010 |
) | |
$ |
483 | |
| Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | | | |
| Depreciation and amortization | | 475 | | | | 309 | |
| Stock-based compensation expense | | 21,829 | | | | — | |
| Provision for credit losses | | 143 | | | | 43 | |
| Estimated litigation claim | | 14,696 | | | | — | |
| Loss on debt extinguishment | | 718 | | | | — | |
| Accretion of discount on marketable securities, net | | (194 | ) | | | — | |
| Change in fair value of contingent consideration | | (18 | ) | | | 341 | |
| Changes in operating assets and liabilities: | | | |
| Accounts receivable | | (3,102 | ) | | | 759 | |
| Contract assets | | (4,081 | ) | | | 290 | |
| Prepaid and other current assets | | (882 | ) | | | (13 | ) |
| Other assets | | (84 | ) | | | — | |
| Accounts payable | | (2 | ) | | | (1,068 | ) |
| Accrued expenses | | (1,321 | ) | | | (652 | ) |
| Accrued income taxes | | 687 | | | | (107 | ) |
| Deferred revenue | | (673 | ) | | | 1,368 | |
| Other current liabilities | | 34 | | | | 830 | |
| Other long-term liabilities | | (9 | ) | | | (417 | ) |
| Net cash (used in) provided by operating activities | |
(8,794 |
) | | |
2,166 | |
| Cash flows from investing activities: | | | |
| Purchases of marketable securities | | (67,809 | ) | | | — | |
| Purchases of property and equipment | | (56 | ) | | | (202 | ) |
| Net cash used in investing activities | |
(67,865 |
) | | |
(202 |
) |
| Cash flows from financing activities: | | | |
| Proceeds from initial public offering, net of underwriting fees | | 106,020 | | | | — | |
| Proceeds from issuance of convertible note, net of debt issuance costs | | 4,852 | | | | — | |
| Proceeds from loan facility | | 4,250 | | | | — | |
| Repayment of loan facility | | (4,250 | ) | | | — | |
| Repayment of 2022 line of credit | | (2,000 | ) | | | — | |
| Deferred transaction costs | | (2,126 | ) | | | — | |
| Contingent consideration | | (22 | ) | | | (921 | ) |
| Payments of vendor financing obligation | | (300 | ) | | | — | |
| Net cash provided by (used in) financing activities | |
106,424 | | | |
(921 |
) |
| Effect of exchange rate fluctuations on cash and cash equivalents | |
88 | | | |
(173 |
) |
| Net increase in cash and cash equivalents | |
29,853 | | | |
870 | |
| Cash and cash equivalents, beginning of period | |
4,421 | | | |
5,478 | |
| Cash and cash equivalents, end of period |
$ |
34,274 | | |
$ |
6,348 | |
| | | | |
