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

Condensed Consolidated Statements of Cash Flows
(In thousands)
(unaudited)

  Nine Months Ended
September 30,
  2021  2020
CASH FLOW FROM OPERATING ACTIVITIES:   
Net loss$(15,594)  $(10,836) 
Adjustments to reconcile net loss to net cash used in operating activities:   
Depreciation and amortization1,107   658  
Stock-based compensation1,144   281  
Operating non-cash lease expense(221)  380  
Other, net(8)  8  
Changes in operating assets and liabilities:   
Accounts receivable, net6,226   2,437  
Prepaid expenses and other assets(3,932)  (21) 
Account payable415   178  
Accrued expenses and other liabilities1,328   4,109  
Operating lease liabilities 189       (374 )  
Deferred revenue 5,340       2,678    
Net cash used in operating activities (4,006 )     (502 )  
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property and equipment (488 )     (523 )  
Net cash used in investing activities (488 )     (523 )  
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of common stock 5,435          
Proceeds from PPP Loan —        1,603    
Payments of principle portion of Term loan (450 )     (450 )  
Principle payments under vendor financing arrangements (418 )     (321 )  
Proceeds from exercise of stock options 330       112    
Payments of deferred offering costs (906 )        
Other       (5 )  
Net cash provided by financing activities 3,991       939    
NET DECREASE IN CASH (503 )     (86 )  
CASH, beginning of period 11,744       13,938    
CASH, end of period $ 11,241       $ 13,852    

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