Arteris Announces Financial Results for the Fourth Quarter and Full Year 2021 and Estimated First Quarter and Full Year 2022 Guidance

Arteris, Inc.
Condensed Consolidated Statements of Cash Flows
(In thousands)
(unaudited)

   Twelve Months Ended December 31,
    2021    2020 
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $(23,384) $(3,260)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization  1,492   935 
Stock-based compensation  5,510   458 
Pension plan expenses  109   33 
Operating non-cash lease expense  (12)  532 
Gain on extinguishment of debt  (10)  (1,593)
Other  1   1 
Changes in operating assets and liabilities:      
Accounts receivable, net     477       (6,324 )
Prepaid expenses and other assets     (4,418 )     (2,608 )
Accounts payable     350       414  
Accrued expenses and other liabilities     2,836       3,016  
Operating lease liabilities     (33 )     (527 )
Deferred revenue     16,268       11,086  
Net cash (used in) provided by operating activities     (814 )     2,163  
CASH FLOWS FROM INVESTING ACTIVITIES:        
Purchases of property and equipment     (808 )     (654 )
Payments for business acquisition           (4,500 )
Payments of deferred consideration for business acquisition     (500 )      
Other     (51 )     7  
Net cash used in investing activities     (1,359 )     (5,147 )
CASH FLOWS FROM FINANCING ACTIVITIES:        
Proceeds from issuance of common stock upon initial public offering, net of underwriting commissions and other issuance costs     71,344        
Proceeds from issuance of common stock     5,435        
Proceeds from PPP Loan           1,603  
Payments of principal portion of Term loan     (550 )     (600 )
Principal payments under vendor financing arrangements     (574 )     (441 )
Proceeds from exercise of stock options     599       236  
Other           (8 )
Net cash provided by financing activities     76,254       790  
NET INCREASE (DECREASE) IN CASH     74,081       (2,194 )
CASH, beginning of period     11,744       13,938  
CASH, end of period   $ 85,825     $ 11,744  
         

Non-GAAP Financial Measures

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