Company: GCTS
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0000950170-25-044438
Chunk: 295

Company: GCT Semiconductor Holding, Inc.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 8
Chunk 295
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 less than $0.1 million of stock-based compensation related to the outstanding RSUs. As of December 31, 2024, there was $3.2 million of unrecognized compensation cost related to RSUs, which is expected to be recognized over a weighted average period of 2.5 years. Any unvested RSUs are forfeited upon separation from the Company. Forfeitures are accounted for as they occur.Stock-Based CompensationThe following table summarizes stock-based compensation included in the Company’s consolidated statements of operations (in thousands): 

        Year EndedDecember 31,

        2024

        2023

        Cost of revenues

        44

        —

        Research and development

        543

        18

        Sales and marketing

        147

        9

        General and administrative

        1,966

        16

        Total
         
        $
        2,700

        $
        43

12. Income TaxesDetermining the provision for income taxes, income taxes payable, and deferred tax assets and liabilities involves judgment. The Company calculates and provides for income taxes in each of the tax jurisdictions in which it operates, which involves estimating current tax exposures as well as making judgments regarding the recoverability of deferred tax assets in each jurisdiction. The estimates used could differ from actual results, and this may have a significant impact on financial position, operating results and cash flows in future periods.The domestic and foreign components of loss before provision for income taxes were as follows (in thousands): 

        Year EndedDecember 31,

        2024

        2023

        Domestic
         
        $
        (15,452
        )
         
        $
        (19,910
        )

        Foreign

        3,518

        (2,018
        )

        Loss before provision for income taxes
         
        $
        (11,934
        )
         
        $
        (21,928
        )

 72

GCT SEMICONDUCTOR HOLDING, INC.Notes to Consolidated Financial Statements 

The provision for income taxes consisted of the following (in thousands): 

        Year EndedDecember 31,

        2024

        2023

        Current

        Federal
         
        $
        151

        $
        215

        State

        3

        1

        Foreign

        291

        325

        Total provision for income taxes