Arteris Announces Financial Results for the Fourth Quarter and Full Year 2022 and Estimated First Quarter and Full Year 2023 Guidance

Condensed Consolidated Balance Sheets
(In thousands, except share and per share data)

  As of December 31,
   2022    2021 
ASSETS   
Current assets:   
Cash and cash equivalents$37,423  $85,825 
Short-term investments 30,728    
Accounts receivable, net 7,143   13,873 
Prepaid expenses and other current assets 5,818   6,949 
Total current assets 81,112   106,647 
Property and equipment, net 3,617   2,438 
Long-term investments 4,427    
Equity method investment 11,897     
Operating lease right-of-use assets   1,883       2,765  
Intangibles, net   4,575       2,959  
Goodwill   4,218       2,677  
Other assets   3,787       2,957  
TOTAL ASSETS   115,516     $ 120,443  
LIABILITIES AND STOCKHOLDERS’ EQUITY      
Current liabilities:      
Accounts payable   572     $ 1,722  
Accrued expenses and other current liabilities   12,095       10,573  
Operating lease liabilities, current   899       961  
Deferred revenue, current   28,839       28,403  
Vendor financing arrangements, current   1,264       833  
Total current liabilities   43,669       42,492  
Deferred revenue, noncurrent   21,840       20,773  
Operating lease liabilities, noncurrent   1,009       1,851  
Vendor financing arrangements, noncurrent   448       266  
Deferred income, noncurrent   9,993        
Other liabilities   1,022       2,157  
Total liabilities   77,981       67,539  
Commitments and contingencies      
Stockholders’ equity:      
Preferred stock, par value of $0.001—10,000,000 shares authorized and no shares issued and outstanding as of December 31, 2022 and 2021          
Common stock, par value of $0.001—300,000,000 shares authorized at December 31, 2022 and 2021; 34,625,875 and 31,530,682 shares issued and outstanding at December 31, 2022 and December 31, 2021, respectively   34       31  
Additional paid-in capital   103,778       91,945  
Accumulated other comprehensive gain (loss)   101       (81 )
Accumulated deficit   (66,378 )     (38,991 )
Total stockholders’ equity   37,535     $ 52,904  
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY   115,516     $ 120,443  

Arteris, Inc.

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