Arteris, Inc.
Condensed Consolidated Statements of Cash Flows
(In thousands)
(unaudited)
| Twelve Months Ended December 31, | ||||||||
| 2021 | 2020 | |||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||
| Net loss | $ | (23,384 | ) | $ | (3,260 | ) | ||
| Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | ||||||||
| Depreciation and amortization | 1,492 | 935 | ||||||
| Stock-based compensation | 5,510 | 458 | ||||||
| Pension plan expenses | 109 | 33 | ||||||
| Operating non-cash lease expense | (12 | ) | 532 | |||||
| Gain on extinguishment of debt | (10 | ) | (1,593 | ) | ||||
| Other | 1 | 1 | ||||||
| Changes in operating assets and liabilities: | ||||||||
| Accounts receivable, net | 477 | (6,324 | ) | |||||
| Prepaid expenses and other assets | (4,418 | ) | (2,608 | ) | ||||
| Accounts payable | 350 | 414 | ||||||
| Accrued expenses and other liabilities | 2,836 | 3,016 | ||||||
| Operating lease liabilities | (33 | ) | (527 | ) | ||||
| Deferred revenue | 16,268 | 11,086 | ||||||
| Net cash (used in) provided by operating activities | (814 | ) | 2,163 | |||||
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||
| Purchases of property and equipment | (808 | ) | (654 | ) | ||||
| Payments for business acquisition | — | (4,500 | ) | |||||
| Payments of deferred consideration for business acquisition | (500 | ) | — | |||||
| Other | (51 | ) | 7 | |||||
| Net cash used in investing activities | (1,359 | ) | (5,147 | ) | ||||
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||
| Proceeds from issuance of common stock upon initial public offering, net of underwriting commissions and other issuance costs | 71,344 | — | ||||||
| Proceeds from issuance of common stock | 5,435 | — | ||||||
| Proceeds from PPP Loan | — | 1,603 | ||||||
| Payments of principal portion of Term loan | (550 | ) | (600 | ) | ||||
| Principal payments under vendor financing arrangements | (574 | ) | (441 | ) | ||||
| Proceeds from exercise of stock options | 599 | 236 | ||||||
| Other | — | (8 | ) | |||||
| Net cash provided by financing activities | 76,254 | 790 | ||||||
| NET INCREASE (DECREASE) IN CASH | 74,081 | (2,194 | ) | |||||
| CASH, beginning of period | 11,744 | 13,938 | ||||||
| CASH, end of period | $ | 85,825 | $ | 11,744 | ||||
Non-GAAP Financial Measures
