Arteris Announces Financial Results for the Second Quarter 2024

Arteris Announces Financial Results for the Second Quarter 2024 and Third Quarter and Full Year 2024 Guidance

Arteris, Inc. Condensed Consolidated Statements of Cash Flows (In thousands) (Unaudited)

	Six Months Ended June 30,
		2024			2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(17,747	)	$	(18,175	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		1,630			1,275
Stock-based compensation		7,417			7,267
Amortization of deferred income		(588	)		(585	)
Loss from equity method investment		1,484			1,568
Net accretion of discounts on available-for-sale securities		(344	)		(497	)
Other, net		24			10
Changes in operating assets and liabilities:
Accounts receivable, net		3,055			(2,438	)
Prepaid expenses and other assets		865			(710	)
Accounts payable		156			(371	)
Accrued expenses and other liabilities		103			16
Deferred revenue		4,733			2,696
Net cash provided by (used in) operating activities		788			(9,944	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment		(243	)		(735	)
Purchases of available-for-sale securities		(12,981	)		(19,544	)
Proceeds from maturities of available-for-sale securities and other		20,769			20,650
Net cash provided by investing activities		7,545			371
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments of contingent consideration for business combination		—			(1,000	)
Principal payments under vendor financing arrangements		(485	)		(488	)
Proceeds from exercise of stock options		584			417
Payments to tax authorities for shares withheld from employees		—			(57	)
Net cash provided by (used in) financing activities		99			(1,128	)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH		8,432			(10,701	)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period		14,084			37,423
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period	$	22,516		$	26,722

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