Cepton, Inc. Reports Fourth Quarter and Full Year 2021 Results and Provides 2022 Business Updates and Milestones

Condensed Consolidated Balance Sheets:

 

December 31,

 

 

(in thousands)

 

2021

 

 

 

2020

 

 

 

ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents and short-term investments

$

6,490

 

 

$

43,370

 

 

Accounts receivable, net of allowance for doubtful accounts of $0 and $0, respectively

 

500

 

 

 

285

 

 

Inventories

 

2,523

 

 

 

3,394

 

 

Prepaid expenses and other current assets

 

6,712

 

 

 

1,134

 

 

Total current assets

 

16,225

 

 

 

48,183

 

 

Property and equipment, net

 

480

 

 

 

457

 

 

Other Assets

 

293

 

 

 

94

 

 

Total assets

$

16,998

 

 

$

48,734

 

 

 

 

 

 

 

 

 

LIABILITIES CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ DEFICIT

 

 

 

 

 

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

Accounts payable

$

2,547

 

 

$

1,214

 

 

Accrued expenses and other current liabilities

 

2,777

 

 

 

1,565

 

 

Total current liabilities

 

5,324

 

 

 

2,779

 

 

Long-term debt

 

 

 

 

1,121

 

 

Other long-term liabilities

 

23

 

 

 

1,293

 

 

Total liabilities

 

5,347

 

 

 

5,193

 

 

 

 

 

 

 

 

 

Commitments and contingencies

 

 

 

 

 

 

Convertible preferred stock:

 

Convertible preferred stock

 

99,470

 

 

 

99,470

 

 

 

 

 

 

 

 

 

Stockholders’ deficit:

 

 

 

 

 

 

Common stock, Class F stock and Additional paid-in capital

 

7,486

 

 

 

2,286

 

 

Accumulated other comprehensive income and accumulated deficit

 

(95,305

)

 

 

(58,215

)

 

Total stockholders’ deficit

 

(87,819

)

 

 

(55,929

)

 

TOTAL LIABILITIES CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ DEFICIT

$

16,998

 

 

$

48,734

 

 

See accompanying notes to the consolidated financial statements

 

 

 

 

 

 


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