Arteris Announces Financial Results for the First Quarter 2023 and Estimated Second Quarter and Full Year 2023 Guidance

(2) Our GAAP tax provision is primarily related to foreign withholding taxes and income tax in profitable foreign jurisdictions. We maintain a full valuation allowance against our deferred tax assets in the US. Accordingly, there is no significant tax impact associated with these Non-GAAP adjustments.
(3) Reflects the aggregate adjustments made to reconcile Non-GAAP Net Loss to our net loss as noted in the above table, divided by the GAAP diluted weighted average number of shares of the relevant period.

Free Cash Flow

  Three Months Ended
March 31,
   2023    2022 
 (in thousands)
Net cash used in operating activities$(8,389) $(1,361)
Less:   
Purchase of property and equipment (120)  (92)
Free cash flow$(8,509) $(1,453)
Net cash provided by (used in) investing activities$421  $(283)
Net cash used in financing activities$(950) $(1,945)

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