Company: GCTS
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0000950170-25-044438
Chunk: 156

Company: GCT Semiconductor Holding, Inc.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1B
Chunk 156
---
 2023, respectively; 47,987 and 24,166 shares   issued and outstanding as of December 31, 2024 and December 31, 2023, respectively(1)

    5

    3

    Additional paid-in capital(1)

    501,195

    435,752

    Accumulated other comprehensive income (loss)

    1,518

    (1,538
    )

    Accumulated deficit

    (562,033
    )

    (549,654
    )

    Total stockholders’ deficit

    (59,315
    )

    (115,437
    )

    Total liabilities and stockholders’ deficit
     
    $
    19,897

    $
    16,428

(1)Amounts as of December 31, 2023 differ from those in prior year consolidated financial statements as they were retrospectively adjusted as a result of the accounting for the Business Combination (as defined in the Notes to the Consolidated Financial Statements.)

The accompanying notes are an integral part of these consolidated financial statements.

 47

GCT SEMICONDUCTOR HOLDING, INC.

Consolidated Statements of Operations

(in thousands, except per share amounts)

    Year EndedDecember 31,

    2024

    2023

    Net revenues:

    Product
     
    $
    4,771

    $
    10,968

    Service

    4,357

    5,060

    Total net revenues

    9,128

    16,028

    Cost of net revenues:

    Product

    2,523

    7,343

    Service

    1,529

    1,951

    Total cost of net revenues

    4,052

    9,294

    Gross profit

    5,076

    6,734

    Operating expenses:

    Research and development

    17,329

    10,712

    Sales and marketing

    3,920

    3,188

    General and administrative

    10,798

    7,392

    Gain on extinguishment of liability

    (14,636
    )

    —

    Loss on impairment of long-lived assets

    787

    —

    Total operating expenses

    18,198

    21,292