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Arteris, Inc.
Condensed Consolidated Statements of Cash Flows (In thousands) (unaudited) | |||||||
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Six Months Ended
June 30, | |||||||
| 2023 | 2022 | ||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||
| Net loss | $ | (18,175 | ) | $ | (12,488 | ) | |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||||||
| Depreciation and amortization | 1,275 | 929 | |||||
| Stock-based compensation | 7,267 | 5,693 | |||||
| Amortization of deferred income | (585 | ) | — | ||||
| Loss from equity method investment | 1,568 | — | |||||
| Net accretion of discounts on available-for-sale securities | (497 | ) | — | ||||
| Gain on deconsolidation of subsidiary | — | (149 | ) | ||||
| Other, net | 10 | 12 | |||||
| Changes in operating assets and liabilities: | |||||||
| Accounts receivable, net | (2,438 | ) | 9,168 | ||||
| Prepaid expenses and other assets | (710 | ) | (2,232 | ) | |||
| Accounts payable | (371 | ) | (1 | ) | |||
| Accrued expenses and other liabilities | 16 | (704 | ) | ||||
| Deferred revenue | 2,696 | (1,391 | ) | ||||
| Net cash used in operating activities | (9,944 | ) | (1,163 | ) | |||
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||
| Purchases of property and equipment | (735 | ) | (205 | ) | |||
| Purchases of available-for-sale securities | (19,544 | ) | — | ||||
| Proceeds from maturities of available-for-sale securities | 20,650 | — | |||||
| Payments relating to investment in equity method investment | — | (520 | ) | ||||
| Net cash provided by (used in) investing activities | 371 | (725 | ) | ||||
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||
| Payments of contingent consideration for business combination | (1,000 | ) | (1,573 | ) | |||
| Principal payments under vendor financing arrangements | (488 | ) | (407 | ) | |||
| Proceeds from exercise of stock options | 417 | 443 | |||||
| Payments to tax authorities for shares withheld from employees | (57 | ) | (843 | ) | |||
| Payments of deferred offering costs | — | (256 | ) | ||||
| Net cash used in financing activities | (1,128 | ) | (2,636 | ) | |||
| NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | (10,701 | ) | (4,524 | ) | |||
| CASH. CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period | 37,423 | 85,825 | |||||
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period | $ | 26,722 | $ | 81,301 | |||
Arteris Announces Financial Results for the Second Quarter 2023 and Estimated Third Quarter and Full Year 2023 Guidance
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