Arteris Announces Financial Results for the Second Quarter 2023 and Estimated Third Quarter and Full Year 2023 Guidance

Arteris, Inc.
Condensed Consolidated Statements of Cash Flows
(In thousands)
(unaudited)
 
  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  
 

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