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

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

  Three Months Ended
March 31,
  2022  2021
CASH FLOW FROM OPERATING ACTIVITIES:   
Net loss$(6,820) $(6,717)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:   
Depreciation and amortization 401   369 
Stock-based compensation 2,309   333 
Operating non-cash lease expense 25   (3)
Other, net    (8)
Changes in operating assets and liabilities:   
Accounts receivable, net 5,674   6,084 
Prepaid expenses and other assets (1,447)  (762)
Account payable (434)  666 
Accrued expenses and other liabilities (1,370)  (1,237)
Deferred revenue   301       1,791  
Net cash (used in) provided by operating activities   (1,361 )     516  
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property and equipment   (92 )     (39 )
Payments of deferred transaction costs relating to investment in Transchip   (191 )      
Net cash used in investing activities   (283 )     (39 )
CASH FLOWS FROM FINANCING ACTIVITIES:      
Payments of contingent consideration for business acquisition   (1,573 )      
Principle payments under vendor financing arrangements   (205 )     (138 )
Proceeds from exercise of stock options   90       184  
Payments of deferred offering costs   (257 )     (94 )
Payments of principle portion of Term loan         (150 )
Other         (2 )
Net cash used in financing activities   (1,945 )     (200 )
NET DECREASE IN CASH   (3,589 )     277  
CASH, beginning of period   85,825       11,744  
CASH, end of period $ 82,236     $ 12,021  

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