Arteris Announces Financial Results for the Fourth Quarter and Full Year 2021 and Estimated First Quarter and Full Year 2022 Guidance

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

  As of
  December 31, 2021  December 31, 2020
ASSETS    
Currents assets:   
Cash$85,825  $11,744 
Accounts receivable, net 13,873   14,350 
Prepaid expenses and other current assets 6,949   2,858 
Total current assets 106,647   28,952 
Property and equipment, net 2,438   2,365 
Operating lease right-of-used assets 2,765   2,753 
Intangibles, net 2,959   3,409 
Goodwill 2,677   2,677 
Other assets 2,957   2,580 
TOTAL ASSETS $ 120,443     $ 42,736  
LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' DEFICIT      
Current liabilities:      
Account payable $ 1,722     $ 1,116  
Accrued expenses and other current liabilities   10,573       7,249  
Operating lease liabilities, current   961       767  
Deferred revenue, current   28,403       17,894  
Vendor financing arrangements, current   833       643  
Term loan         557  
Total current liabilities   42,492       28,226  
Deferred revenue, noncurrent   20,773       15,014  
Operating lease liabilities, noncurrent   1,851       2,079  
Vendor financing arrangements, noncurrent   266       727  
Other liabilities   2,157       2,986  
Total liabilities   67,539       49,032  
Redeemable convertible preferred stock:      
Redeemable convertible preferred stock, par value of $0.001, no shares authorized, issued, and outstanding at December 31, 2021; 4,471,316 shares authorized, issued and outstanding at December 31, 2020 (aggregate liquidation preference of zero and $5,768 at December 31, 2021 and 2020, respectively)         5,712  
Stockholders' equity (deficit):      
Preferred stock, par value of $0.001—10,000,000 and no shares authorized at December 31, 2021 and 2020, respectively; no shares issued and outstanding at December 31, 2021 and 2020          
Common stock, par value of $0.001—300,000,000 and 31,525,154 shares authorized at December 31, 2021 and 2020, respectively; 31,530,682 and 18,486,989 shares issued and outstanding at December 31, 2021 and 2020, respectively   31       18  
Additional paid-in-capital   91,945       3,612  
Accumulated other comprehensive loss   (81 )     (31 )
Accumulated deficit   (38,991 )     (15,607 )
Total stockholders' equity (deficit)   52,904       (12,008 )
TOTAL LIABILITIES REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) $ 120,443     $ 42,736  



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