| Three Months Ended | |||||
| March 31, | |||||
| 2022 | 2021 | ||||
| (in thousands) | |||||
| Cost of revenue | $ | 96 | $ | 13 | |
| Research and development | 1,144 | 199 | |||
| Sales and marketing | 271 | 24 | |||
| General and administrative | 798 | 97 | |||
| Total stock-based compensation expense | $ | 2,309 | $ | 333 | |
Arteris, Inc.
Condensed Consolidated Balance Sheets
(In thousands, except share and per share data)
(unaudited)
| As of | |||||||
|
March 31,
2022 |
December 31,
2021 | ||||||
| ASSETS | |||||||
| Currents assets: | |||||||
| Cash | $ | 82,236 | $ | 85,825 | |||
| Accounts receivable, net | 8,199 | 13,873 | |||||
| Prepaid expenses and other current assets | 8,456 | 6,949 | |||||
| Total current assets | 98,891 | 106,647 | |||||
| Property and equipment, net | 2,281 | 2,438 | |||||
| Operating lease right-of-used assets | 2,595 | 2,765 | |||||
| Intangibles, net | 2,840 | 2,959 | |||||
| Goodwill | 2,677 | 2,677 | |||||
| Other assets | 3,088 | 2,957 | |||||
| TOTAL ASSETS | $ | 112,372 | $ | 120,443 | |||
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||
| Current liabilities: | |||||||
| Account payable | $ | 1,032 | $ | 1,722 | |||
| Accrued expenses and other current liabilities | 9,456 | 10,573 | |||||
| Operating lease liabilities, current | 1,007 | 961 | |||||
| Deferred revenue, current | 28,115 | 28,403 | |||||
| Vendor financing arrangements, current | 802 | 833 | |||||
| Total current liabilities | 40,412 | 42,492 | |||||
| Deferred revenue, noncurrent | 21,361 | 20,773 | |||||
| Operating lease liabilities, noncurrent | 1,660 | 1,851 | |||||
| Vendor financing arrangements, noncurrent | 124 | 266 | |||||
| Other liabilities | 1,156 | 2,157 | |||||
| Total liabilities | 64,713 | 67,539 | |||||
| Stockholders' equity: | |||||||
| Preferred stock, par value of $0.001 - 10,000,000 shares authorized and no shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively. | — | — | |||||
| Common stock, par value of $0.001 - 300,000,000 shares authorized as of March 31, 2022 and December 31, 2021; 31,858,420 and 31,530,682 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively | 31 | 31 | |||||
| Additional paid-in-capital | 93,520 | 91,945 | |||||
| Accumulated other comprehensive loss | (81 | ) | (81 | ) | |||
| Accumulated deficit | (45,811 | ) | (38,991 | ) | |||
| Total stockholders' equity | 47,659 | 52,904 | |||||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 112,372 | $ | 120,443 | |||
Arteris, Inc.
