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Arteris, Inc.
Condensed Consolidated Statements of Cash Flows (In thousands) (Unaudited) |
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Six Months Ended
June 30, |
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| 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 | |||
Arteris Announces Financial Results for the Second Quarter 2024 and Third Quarter and Full Year 2024 Guidance
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