Arteris Announces Financial Results for the Third Quarter 2021 and Estimated Fourth Quarter and Full Year 2021 Guidance

Condensed Consolidated Balance Sheets
(In thousands, except share and per share data)
(unaudited)

  As of
  September 30, 2021  December 31, 2020
ASSETS    
Currents assets:   
Cash$11,241   $11,744  
Accounts receivable, net8,123   14,350  
Prepaid expenses and other current assets5,047   2,858  
Total current assets24,411   28,952  
Property and equipment, net2,256   2,365  
Operating lease right-of-used assets2,974   2,753  
Intangibles, net3,052   3,409  
Goodwill2,677   2,677  
Other assets5,229   2,580  
TOTAL ASSETS$40,599      $ 42,736    
LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' DEFICIT      
Current liabilities:      
Account payable $ 1,531       $ 1,116    
Accrued expenses and other current liabilities 9,577       7,249    
Operating lease liabilities, current 980       767    
Deferred revenue, current 23,707       17,894    
Vendor financing arrangements, current 759       643    
Term loan, current 100       557    
Total current liabilities 36,654       28,226    
Deferred revenue, noncurrent 14,541       15,014    
Operating lease liabilities, noncurrent 2,054       2,079    
Vendor financing arrangements, noncurrent 345       727    
Other liabilities 1,986       2,986    
Total liabilities 55,580       49,032    
Redeemable convertible preferred stock:      
Redeemable convertible preferred stock, par value of $0.001 - 4,471,316 shares authorized; 4,471,316 shares issued and outstanding as of September 30, 2021 and December 31, 2020 (aggregate liquidation preference of $5,768 as of September 30, 2021 and December 31, 2020) 5,712       5,712    
Stockholders' deficit:      
Common stock, par value of $0.001 - 36,525,154 and 31,525,154 shares authorized as of September 30, 2021 and December 31, 2020; 20,607,851 and 18,486,989 shares issued and outstanding as of September 30, 2021 and December 31, 2020, respectively 21       18    
Additional paid-in-capital 10,518       3,612    
Accumulated other comprehensive loss (31 )     (31 )  
Accumulated deficit (31,201 )     (15,607 )  
Total stockholders' deficit (20,693 )     (12,008 )  
TOTAL LIABILITIES REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' DEFICIT $ 40,599       $ 42,736    

Arteris, Inc.

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