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

 
Arteris, Inc.
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
 
   Nine Months Ended
September 30,
    2024    2023 
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $(25,434) $(26,328)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization  2,474   2,240 
Stock-based compensation  11,807   10,981 
Amortization of deferred income  (885)  (882)
Loss from equity method investment  2,064   2,487 
Net accretion of discounts on available-for-sale securities  (522)  (698)
Other, net  124   (3)
Changes in operating assets and liabilities:        
     Accounts receivable, net     3,288       (3,225 )
     Prepaid expenses and other assets     (1,249 )     (495 )
     Accounts payable     (43 )     (237 )
     Accrued expenses and other liabilities     1,494       1,544  
     Deferred revenue     8,793       1,866  
          Net cash provided by (used in) operating activities     1,911       (12,750 )
CASH FLOWS FROM INVESTING ACTIVITIES:        
Purchases of property and equipment     (274 )     (1,075 )
Purchases of available-for-sale securities     (25,997 )     (35,373 )
Proceeds from maturities of available-for-sale securities and other     29,169       33,150  
Other           (25 )
          Net cash provided by (used in) investing activities     2,898       (3,323 )
CASH FLOWS FROM FINANCING ACTIVITIES:        
Payments of contingent consideration for business combination           (1,269 )
Principal payments under vendor financing arrangements     (1,438 )     (1,041 )
Proceeds from exercise of stock options     703       460  
Payments to tax authorities for shares withheld from employees           (564 )
Other     59       79  
          Net cash used in financing activities     (676 )     (2,335 )
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH     4,133       (18,408 )
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period     14,084       37,423  
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period   $ 18,217     $ 19,015  
 

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