| Three Months Ended | Nine Months Ended | ||||||||||
| September 30, | September 30, | ||||||||||
| 2022 | 2021 | 2022 | 2021 | ||||||||
| (in thousands) | |||||||||||
| Cost of revenue | $ | 118 | $ | 15 | $ | 474 | $ | 42 | |||
| Research and development | 1,798 | 225 | 4,435 | 645 | |||||||
| Sales and marketing | 679 | 23 | 1,678 | 72 | |||||||
| General and administrative | 794 | 170 | 2,495 | 385 | |||||||
| Total stock-based compensation expense | $ | 3,389 | $ | 433 | $ | 9,082 | $ | 1,144 | |||
Arteris, Inc.
Condensed Consolidated Balance Sheets
(In thousands, except share and per share data)
(Unaudited)
| As of | |||||||
| September 30, 2022 | December 31, 2021 | ||||||
| ASSETS | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 68,200 | $ | 85,825 | |||
| Short-term investments | 4,400 | — | |||||
| Accounts receivable, net | 9,638 | 13,873 | |||||
| Prepaid expenses and other current assets | 8,427 | 6,949 | |||||
| Total current assets | 90,665 | 106,647 | |||||
| Property and equipment, net | 3,502 | 2,438 | |||||
| Long-term investments | 1,983 | — | |||||
| Equity method investment | 12,181 | — | |||||
| Operating lease right-of-use assets | 2,124 | 2,765 | |||||
| Intangibles, net | 2,575 | 2,959 | |||||
| Goodwill | 2,677 | 2,677 | |||||
| Other assets | 3,115 | 2,957 | |||||
| TOTAL ASSETS | $ | 118,822 | $ | 120,443 | |||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 1,984 | $ | 1,722 | |||
| Accrued expenses and other current liabilities | 11,520 | 10,573 | |||||
| Operating lease liabilities, current | 1,033 | 961 | |||||
| Deferred revenue, current | 27,646 | 28,403 | |||||
| Vendor financing arrangements, current | 1,502 | 833 | |||||
| Total current liabilities | 43,685 | 42,492 | |||||
| Deferred revenue, noncurrent | 22,046 | 20,773 | |||||
| Operating lease liabilities, noncurrent | 1,134 | 1,851 | |||||
| Vendor financing arrangements, noncurrent | 433 | 266 | |||||
| Deferred income, noncurrent | 10,290 | — | |||||
| Other liabilities | 877 | 2,157 | |||||
| Total liabilities | 78,465 | 67,539 | |||||
| Stockholders' equity: | |||||||
| Preferred stock, par value of $0.001 - 10,000,000 shares authorized and no shares issued and outstanding as of September 30, 2022 and December 31, 2021 | — | — | |||||
| Common stock, par value of $0.001 - 300,000,000 shares authorized as of September 30, 2022 and December 31, 2021; 33,320,891 and 31,530,682 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively | 33 | 31 | |||||
| Additional paid-in capital | 99,589 | 91,945 | |||||
| Accumulated other comprehensive loss | (102 | ) | (81 | ) | |||
| Accumulated deficit | (59,163 | ) | (38,991 | ) | |||
| Total stockholders' equity | 40,357 | 52,904 | |||||
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 118,822 | $ | 120,443 | |||
