Arteris Announces Financial Results for the Third Quarter 2023

Arteris Announces Financial Results for the Third Quarter 2023 and Fourth Quarter and Full Year 2023 Guidance

Arteris, Inc.
Condensed Consolidated Balance Sheets
(In thousands, except share and per share data)
(Unaudited)

	As of
	September 30, 2023			December 31, 2022
ASSETS
Current assets:
Cash and cash equivalents	$	18,627		$	37,423
Short-term investments		27,734			30,728
Accounts receivable, net		10,370			7,143
Prepaid expenses and other current assets		5,249			5,818
Total current assets		61,980			81,112
Property and equipment, net		5,430			3,617
Long-term investments		10,287			4,427
Equity method investment		9,410			11,897
Operating lease right-of-use assets		1,598			1,883
Intangibles, net		4,050			4,575
Goodwill		4,178			4,218
Other assets		5,238			3,787
TOTAL ASSETS	$	102,171		$	115,516
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	445		$	572
Accrued expenses and other current liabilities		11,983			12,095
Operating lease liabilities, current		571			899
Deferred revenue, current		29,898			28,839
Vendor financing arrangements, current		1,623			1,264
Total current liabilities		44,520			43,669
Deferred revenue, noncurrent		22,647			21,840
Operating lease liabilities, noncurrent		1,038			1,009
Vendor financing arrangements, noncurrent		1,378			448
Deferred income, noncurrent		9,108			9,993
Other liabilities		1,451			1,022
Total liabilities		80,142			77,981
Stockholders' equity:
Preferred stock, par value of $0.001 - 10,000,000 shares authorized and no shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively		—			—
Common stock, par value of $0.001 - 300,000,000 shares authorized as of September 30, 2023 and December 31, 2022; 36,826,655 and 34,625,875 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively		37			34
Additional paid-in capital		114,652			103,778
Accumulated other comprehensive income		46			101
Accumulated deficit		(92,706	)		(66,378	)
Total stockholders' equity		22,029			37,535
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	102,171		$	115,516

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