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Arteris, Inc.
Condensed Consolidated Statements of Cash Flows (In thousands) (Unaudited) | |||||||
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Three Months Ended
March 31, | |||||||
| 2024 | 2023 | ||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||
| Net loss | $ | (9,403 | ) | $ | (9,010 | ) | |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||||||
| Depreciation and amortization | 833 | 601 | |||||
| Stock-based compensation | 3,657 | 2,985 | |||||
| Amortization of deferred income | (294 | ) | (291 | ) | |||
| Loss from equity method investment | 759 | 834 | |||||
| Net accretion of discounts on available-for-sale securities | (181 | ) | (259 | ) | |||
| Other, net | 31 | 27 | |||||
| Changes in operating assets and liabilities: | |||||||
| Accounts receivable, net | (262 | ) | (2,607 | ) | |||
| Prepaid expenses and other assets | 479 | 364 | |||||
| Accounts payable | 546 | 555 | |||||
| Accrued expenses and other liabilities | 904 | (974 | ) | ||||
| Deferred revenue | 3,408 | (614 | ) | ||||
| Net cash provided by (used in) operating activities | 477 | (8,389 | ) | ||||
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||
| Purchases of property and equipment | (196 | ) | (120 | ) | |||
| Purchases of available-for-sale securities and other | (3,421 | ) | (4,909 | ) | |||
| Proceeds from maturities of available-for-sale securities and other | 15,519 | 5,450 | |||||
| Net cash provided by investing activities | 11,902 | 421 | |||||
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||
| Payments of contingent consideration for business combination | — | (1,000 | ) | ||||
| Principal payments under vendor financing arrangements | (197 | ) | (192 | ) | |||
| Proceeds from exercise of stock options | 241 | 256 | |||||
| Payments to tax authorities for shares withheld from employees | — | (14 | ) | ||||
| Net cash provided by (used in) financing activities | 44 | (950 | ) | ||||
| NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 12,423 | (8,918 | ) | ||||
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period | 14,084 | 37,423 | |||||
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period | $ | 26,507 | $ | 28,505 | |||
Arteris Announces Financial Results for the First Quarter 2024 and Second Quarter and Full Year 2024 Guidance
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