| Three Months Ended | Six Months Ended | ||||||||||
| June 30, | June 30, | ||||||||||
| 2022 | 2021 | 2022 | 2021 | ||||||||
| (in thousands) | |||||||||||
| Cost of revenue | $ | 260 | $ | 14 | $ | 356 | $ | 27 | |||
| Research and development | 1,493 | 221 | 2,637 | 420 | |||||||
| Sales and marketing | 728 | 25 | 999 | 49 | |||||||
| General and administrative | 903 | 118 | 1,701 | 215 | |||||||
| Total stock-based compensation expense | $ | 3,384 | $ | 378 | $ | 5,693 | $ | 711 | |||
Arteris, Inc.
Condensed Consolidated Balance Sheets
(In thousands, except share and per share data)
(Unaudited)
| As of | |||||||
| June 30, 2022 | December 31, 2021 | ||||||
| ASSETS | |||||||
| Current assets: | |||||||
| Cash | $ | 81,301 | $ | 85,825 | |||
| Accounts receivable, net | 4,705 | 13,873 | |||||
| Prepaid expenses and other current assets | 8,862 | 6,949 | |||||
| Total current assets | 94,868 | 106,647 | |||||
| Property and equipment, net | 3,017 | 2,438 | |||||
| Equity method investment | 12,169 | — | |||||
| Operating lease right-of-use assets | 2,361 | 2,765 | |||||
| Intangibles, net | 2,721 | 2,959 | |||||
| Goodwill | 2,677 | 2,677 | |||||
| Other assets | 3,339 | 2,957 | |||||
| TOTAL ASSETS | $ | 121,152 | $ | 120,443 | |||
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 1,567 | $ | 1,722 | |||
| Accrued expenses and other current liabilities | 10,758 | 10,573 | |||||
| Operating lease liabilities, current | 1,027 | 961 | |||||
| Deferred revenue, current | 28,104 | 28,403 | |||||
| Vendor financing arrangements, current | 1,077 | 833 | |||||
| Total current liabilities | 42,533 | 42,492 | |||||
| Deferred revenue, noncurrent | 19,681 | 20,773 | |||||
| Operating lease liabilities, noncurrent | 1,394 | 1,851 | |||||
| Vendor financing arrangements, noncurrent | 239 | 266 | |||||
| Deferred income, noncurrent | 10,444 | — | |||||
| Other liabilities | 1,151 | 2,157 | |||||
| Total liabilities | 75,442 | 67,539 | |||||
| Stockholders' equity: | |||||||
| Preferred stock, par value of $0.001 - 10,000,000 shares authorized and no shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively | — | — | |||||
| Common stock, par value of $0.001 - 300,000,000 shares authorized as of June 30, 2022 and December 31, 2021; 32,622,817 and 31,530,682 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively | 33 | 31 | |||||
| Additional paid-in capital | 97,237 | 91,945 | |||||
| Accumulated other comprehensive loss | (81 | ) | (81 | ) | |||
| Accumulated deficit | (51,479 | ) | (38,991 | ) | |||
| Total stockholders' equity | 45,710 | 52,904 | |||||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 121,152 | $ | 120,443 | |||
