|
SILVACO GROUP, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited, in thousands) | |||||||||
| Three Months Ended March 31, | |||||||||
|
2024
|
2023
| ||||||||
| Cash flows from operating activities: | |||||||||
| Net income | $ | 1,378 | $ | 814 | |||||
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||||||||
| Depreciation and amortization | 120 | 166 | |||||||
| Gain on disposal of fixed assets | (10 | ) | — | ||||||
| Provision for credit losses | 222 | 21 | |||||||
| Change in fair value of contingent consideration | (8 | ) | 265 | ||||||
| Changes in operating assets and liabilities: | |||||||||
| Accounts receivable | (1,844 | ) | (3,718 | ) | |||||
| Contract assets | (3,679 | ) | 889 | ||||||
| Prepaid and other current assets | 788 | (232 | ) | ||||||
| Other assets | (274 | ) | — | ||||||
| Accounts payable | 877 | 513 | |||||||
| Accrued expenses | (670 | ) | (1,248 | ) | |||||
| Accrued income taxes | 574 | 242 | |||||||
| Deferred revenue | (21 | ) | 2,888 | ||||||
| Other current liabilities | (49 | ) | 146 | ||||||
| Other long-term liabilities | 24 | (245 | ) | ||||||
| Net cash (used in) provided by operating activities: | (2,572 | ) | 501 | ||||||
| Cash flows from investing activities: | |||||||||
| Purchases of property and equipment | (10 | ) | (177 | ) | |||||
| Net cash used in investing activities | (10 | ) | (177 | ) | |||||
| Cash flows from financing activities: | |||||||||
| Proceeds from loan facility | 4,250 | — | |||||||
| Contingent consideration | (13 | ) | (582 | ) | |||||
| Deferred transaction costs | (364 | ) | — | ||||||
| Net cash provided by (used in) financing activities | 3,873 | (582 | ) | ||||||
| Effect of exchange rate fluctuations on cash | 27 | 75 | |||||||
| Net increase (decrease) in cash | 1,318 | (183 | ) | ||||||
| Cash, beginning of period | 4,421 | 5,478 | |||||||
| Cash, end of period | $ | 5,739 | $ |
5,295
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