|
Arteris, Inc.
Condensed Consolidated Statements of Cash Flows (In thousands) | |||||||
| Twelve Months Ended December 31, | |||||||
| 2023 | 2022 | ||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||
| Net loss | $ | (36,869 | ) | $ | (27,387 | ) | |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||||||
| Depreciation and amortization | 3,069 | 2,099 | |||||
| Stock-based compensation | 14,535 | 11,692 | |||||
| Pension plan expenses | 134 | 136 | |||||
| Non-cash operating lease expense | 118 | (21 | ) | ||||
| Amortization of deferred income | (1,179 | ) | (391 | ) | |||
| Gain on deconsolidation of subsidiary | — | (149 | ) | ||||
| Loss from equity method investment | 3,397 | 284 | |||||
| Net accretion of discounts on available-for-sale securities | (893 | ) | (177 | ) | |||
| Deferred income taxes | — | (484 | ) | ||||
| Other, net | 10 | 14 | |||||
| Changes in operating assets and liabilities: | |||||||
| Accounts receivable, net | (4,858 | ) | 7,102 | ||||
| Prepaid expenses and other assets | (1,301 | ) | 202 | ||||
| Accounts payable | (389 | ) | (1,034 | ) | |||
| Accrued expenses and other liabilities | 2,467 | 517 | |||||
| Deferred revenue | 6,030 | 830 | |||||
| Net cash used in operating activities | (15,729 | ) | (6,767 | ) | |||
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||
| Purchases of property and equipment | (1,503 | ) | (1,051 | ) | |||
| Purchases of available-for-sale securities and other | (47,788 | ) | (35,031 | ) | |||
| Proceeds from maturities of available-for-sale securities | 44,650 | — | |||||
| Payments relating to investment in equity method investment | — | (519 | ) | ||||
| Proceeds from principal portion of related party loan | — | 241 | |||||
| Payments for business combination, net of cash acquired | — | (1,121 | ) | ||||
| Other | (50 | ) | — | ||||
| Net cash used in investing activities | (4,691 | ) | (37,481 | ) | |||
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||
| Payments of contingent consideration for business combination | (1,592 | ) | (1,573 | ) | |||
| Payments to tax authorities for shares withheld from employees | (607 | ) | (2,065 | ) | |||
| Principal payments under vendor financing arrangements | (1,289 | ) | (1,136 | ) | |||
| Proceeds from exercise of stock options | 490 | 876 | |||||
| Payments of deferred offering costs | — | (256 | ) | ||||
| Other | 79 | — | |||||
| Net cash used in financing activities | (2,919 | ) | (4,154 | ) | |||
| NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | (23,339 | ) | (48,402 | ) | |||
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period | 37,423 | 85,825 | |||||
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period | $ | 14,084 | $ | 37,423 | |||
Non-GAAP Financial Measures
