Company: AIP
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001667011-25-000022
Chunk: 251

Company: Arteris, Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 8
Chunk 251
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 intervals.Total operating lease related costs were as follows (in thousands):Three Months EndedMarch 31,20252024Operating lease cost$363 $324 Short-term lease cost26 4 Total lease cost$389 $328 

14

The weighted-average remaining term of the Company’s operating leases was 4.3 years and 3.9 years as of March 31, 2025 and December 31, 2024, respectively, and the weighted-average discount rate used to measure the present value of the operating lease liabilities was 9.5% as of March 31, 2025 and 10.0% as of December 31, 2024. Cash payments made related to operating lease liabilities were $0.3 million and $0.2 million for the three months ended March 31, 2025 and 2024, respectively.Maturities of operating lease liabilities as of March 31, 2025 were as follows (in thousands):Fiscal year ending December 31,AmountRemainder of 2025$1,082 20261,414 20271,370 2028975 2029293 Thereafter450 Total undiscounted cash flows5,584 Less: imputed interest(1,042)Present value of lease liabilities$4,542 Operating lease liabilities, current$1,047 Operating lease liabilities, noncurrent3,495 Total lease liabilities $4,542 

9.    BORROWINGS

Vendor financing arrangements—The Company has various vendor financing arrangements with extended payment terms on the purchase of software licenses and equipment. In order to determine the present value of the commitments, the Company used an imputed interest rate of 9.5%, which is an estimate based on the Company’s collateralized borrowing rate.Expected cash flows related to vendor financing arrangements as of March 31, 2025 were as follows (in thousands):Fiscal year ending December 31,AmountRemainder of 2025$1,112 2026741 Total undiscounted cash flows1,853 Less: Imputed interest(102)Present value of vendor financing arrangements$1,751 Vendor financing arrangements, current$1,383 Vendor financing arrangements, noncurrent368 $1,751 Interest expense from vendor financing arrangements was less than $0.1 million  for both the three months ended March 31, 2025 and 2024