| SILVACO GROUP, INC. | |||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||
| (Unaudited, in thousands) | |||||||
| Nine Months Ended September 30, | |||||||
| 2024 | 2023 | ||||||
| Cash flows from operating activities: | |||||||
| Net (loss) income | $ | (43,561 | ) | $ | 1,931 | ||
| Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | |||||||
| Depreciation and amortization | 903 | 456 | |||||
| Stock based compensation expense | 24,388 | - | |||||
| Provision for credit losses | 154 | 198 | |||||
| Estimated litigation claim | 15,088 | - | |||||
| Loss on debt extinguishment | 718 | - | |||||
| Accretion of discount on marketable securities, net | (905 | ) | - | ||||
| Change in fair value of contingent consideration | (18 | ) | 332 | ||||
| Changes in operating assets and liabilities: | |||||||
| Accounts receivable | (1,336 | ) | (443 | ) | |||
| Contract assets | (4,479 | ) | (4,560 | ) | |||
| Prepaid asset and other current assets | (479 | ) | 183 | ||||
| Other assets | (12 | ) | - | ||||
| Accounts payable | 1,022 | (404 | ) | ||||
| Accrued expenses | (2,396 | ) | 402 | ||||
| Accrued income taxes | 836 | 475 | |||||
| Deferred revenue | (1,887 | ) | 1,497 | ||||
| Other current liabilities | 1,288 | 869 | |||||
| Other long-term liabilities | 9 | (605 | ) | ||||
| Net cash (used in) provided by operating activities | (10,667 | ) | 331 | ||||
| Cash flows from investing activities: | |||||||
| Purchases of marketable securities | (81,608 | ) | - | ||||
| Maturities of marketable securities | 9,000 | - | |||||
| Purchases of property and equipment | (344 | ) | (215 | ) | |||
| Net cash used in investing activities | (72,952 | ) | (215 | ) | |||
| Cash flows from financing activities: | |||||||
| Proceeds from initial public offering, net of underwriting fees | 106,020 | - | |||||
| Proceed from issuance of convertible note, net of debt issuance costs | 4,852 | - | |||||
| Proceeds from loan facility | 4,250 | - | |||||
| Repayment of loan facility | (4,250 | ) | - | ||||
| Repayment of 2022 line of credit | (2,000 | ) | - | ||||
| Deferred transaction costs | (2,649 | ) | (33 | ) | |||
| Payments of vendor financing obligation | (600 | ) | - | ||||
| Contingent consideration | (74 | ) | (986 | ) | |||
| Net cash provided by (used in) financing activities | 105,549 | (1,019 | ) | ||||
| Effect of exchange rate fluctuations on cash and cash equivalents | 255 | (262 | ) | ||||
| Net increase (decrease) in cash and cash equivalents | 22,185 | (1,165 | ) | ||||
| Cash and cash equivalents, beginning of period | 4,421 | 5,478 | |||||
| Cash and cash equivalents, end of period | $ | 26,606 | $ | 4,313 | |||
