Arteris Announces Financial Results for the Fourth Quarter and

Arteris Announces Financial Results for the Fourth Quarter and Full Year 2023 and Estimated First Quarter and Full Year 2024 Guidance

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

	As of December 31,
		2023			2022
ASSETS
Current assets:
Cash and cash equivalents	$	13,696		$	37,423
Short-term investments		27,477			30,728
Accounts receivable, net of allowance of $93 and $250 as of December 31, 2023 and 2022, respectively		12,003			7,143
Prepaid expenses and other current assets		5,254			5,818
Total current assets		58,430			81,112
Property and equipment, net		5,745			3,617
Long-term investments		11,802			4,427
Equity method investment		8,500			11,897
Operating lease right-of-use assets		4,289			1,883
Intangibles, net		3,858			4,575
Goodwill		4,178			4,218
Other assets		5,999			3,787
TOTAL ASSETS	$	102,801		$	115,516
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	183		$	572
Accrued expenses and other current liabilities		11,831			12,095
Operating lease liabilities, current		781			899
Deferred revenue, current		31,537			28,839
Vendor financing arrangements, current		2,070			1,264
Total current liabilities		46,402			43,669
Deferred revenue, noncurrent		25,172			21,840
Operating lease liabilities, noncurrent		3,610			1,009
Vendor financing arrangements, noncurrent		1,292			448
Deferred income, noncurrent		8,810			9,993
Other liabilities		2,412			1,022
Total liabilities		87,698			77,981
Commitments and contingencies
Stockholders’ equity:
Preferred stock, par value of $0.001—10,000,000 shares authorized and no shares issued and outstanding as of both December 31, 2023 and 2022		—			—
Common stock, par value of $0.001—300,000,000 shares authorized at December 31, 2023 and 2022; 37,518,583 and 34,625,875 shares issued and outstanding at December 31, 2023 and 2022, respectively		37			34
Additional paid-in capital		118,193			103,778
Accumulated other comprehensive income		120			101
Accumulated deficit		(103,247	)		(66,378	)
Total stockholders’ equity		15,103			37,535
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	102,801		$	115,516

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