Company: GCTS
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001851961-25-000010
Chunk: 1

Company: GCT Semiconductor Holding, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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GCT SEMICONDUCTOR HOLDING, INC.

Condensed Consolidated Balance Sheets

(unaudited, in thousands, except per share amounts)

     June 30, 2025

     December 31, 2024

     Assets

     Current assets:

     Cash and cash equivalents
      
     $
     1,266

     $
     1,435

     Accounts receivable, net

     3,826

     5,740

     Inventory

     2,995

     2,977

     Contract assets

     5,962

     5,107

     Prepaid expenses and other current assets

     1,697

     2,332

     Total current assets

     15,746

     17,591

     Property and equipment, net

     830

     869

     Operating lease right-of-use assets

     589

     849

     Intangibles, net

     10

     65

     Other assets

     444

     523

     Total assets
      
     $
     17,619

     $
     19,897

     Liabilities and Stockholders’ Deficit

     Current liabilities:

     Accounts payable
      
     $
     823

     $
     1,031

     Contract liabilities

     24

     48

     Accrued and other current liabilities

     20,871

     21,205

     Common stock forward liability

     20

     315

     Borrowings

     46,675

     37,626

     Convertible promissory notes, current

     5,123

     —

     Operating lease liabilities, current

     508

     697

     Total current liabilities

     74,044

     60,922

     Convertible promissory notes, net of current

     —

     4,947

     Net defined benefit liabilities

     8,052

     7,055

     Long-term operating lease liabilities

     106

     177

     Income taxes payable

     2,196

     2,076

     Warrant liabilities

     3,111

     3,750

     Other liabilities

     86

     285

     Total liabilities

     87,595

     79,212

     Commitments