Arteris Announces Financial Results for the Second Quarter 2024 and Third Quarter and Full Year 2024 Guidance

Arteris, Inc.
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
 
  Six Months Ended
June 30,
    2024       2023  
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (17,747 )   $ (18,175 )
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization   1,630       1,275  
Stock-based compensation   7,417       7,267  
Amortization of deferred income   (588 )     (585 )
Loss from equity method investment   1,484       1,568  
Net accretion of discounts on available-for-sale securities   (344 )     (497 )
Other, net   24       10  
Changes in operating assets and liabilities:      
Accounts receivable, net   3,055       (2,438 )
Prepaid expenses and other assets   865       (710 )
Accounts payable   156       (371 )
Accrued expenses and other liabilities   103       16  
Deferred revenue   4,733       2,696  
Net cash provided by (used in) operating activities   788       (9,944 )
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property and equipment   (243 )     (735 )
Purchases of available-for-sale securities   (12,981 )     (19,544 )
Proceeds from maturities of available-for-sale securities and other   20,769       20,650  
Net cash provided by investing activities   7,545       371  
CASH FLOWS FROM FINANCING ACTIVITIES:      
Payments of contingent consideration for business combination         (1,000 )
Principal payments under vendor financing arrangements   (485 )     (488 )
Proceeds from exercise of stock options   584       417  
Payments to tax authorities for shares withheld from employees         (57 )
Net cash provided by (used in) financing activities   99       (1,128 )
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH   8,432       (10,701 )
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period   14,084       37,423  
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period $ 22,516     $ 26,722  
 

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