Arteris Announces Financial Results for the Third Quarter 2021

Arteris Announces Financial Results for the Third Quarter 2021 and Estimated Fourth Quarter and Full Year 2021 Guidance

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

	As of
	September 30, 2021			December 31, 2020
ASSETS
Currents assets:
Cash	$	11,241		$	11,744
Accounts receivable, net	8,123			14,350
Prepaid expenses and other current assets	5,047			2,858
Total current assets	24,411			28,952
Property and equipment, net	2,256			2,365
Operating lease right-of-used assets	2,974			2,753
Intangibles, net	3,052			3,409
Goodwill	2,677			2,677
Other assets	5,229			2,580
TOTAL ASSETS	$	40,599		$	42,736
LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' DEFICIT
Current liabilities:
Account payable	$	1,531		$	1,116
Accrued expenses and other current liabilities	9,577			7,249
Operating lease liabilities, current	980			767
Deferred revenue, current	23,707			17,894
Vendor financing arrangements, current	759			643
Term loan, current	100			557
Total current liabilities	36,654			28,226
Deferred revenue, noncurrent	14,541			15,014
Operating lease liabilities, noncurrent	2,054			2,079
Vendor financing arrangements, noncurrent	345			727
Other liabilities	1,986			2,986
Total liabilities	55,580			49,032
Redeemable convertible preferred stock:
Redeemable convertible preferred stock, par value of $0.001 - 4,471,316 shares authorized; 4,471,316 shares issued and outstanding as of September 30, 2021 and December 31, 2020 (aggregate liquidation preference of $5,768 as of September 30, 2021 and December 31, 2020)	5,712			5,712
Stockholders' deficit:
Common stock, par value of $0.001 - 36,525,154 and 31,525,154 shares authorized as of September 30, 2021 and December 31, 2020; 20,607,851 and 18,486,989 shares issued and outstanding as of September 30, 2021 and December 31, 2020, respectively	21			18
Additional paid-in-capital	10,518			3,612
Accumulated other comprehensive loss	(31		)	(31		)
Accumulated deficit	(31,201		)	(15,607		)
Total stockholders' deficit	(20,693		)	(12,008		)
TOTAL LIABILITIES REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' DEFICIT	$	40,599		$	42,736

Arteris, Inc.

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