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