Company: GCTS
Filing Date: 2025-03-26
Form Type: 424B3
Source: 0000929638-25-001279
Chunk: 132

Company: GCT Semiconductor Holding, Inc.
Filing Date: 2025-03-26
Form: 424B3
Chunk 132
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, insurance, and common area maintenance. For office equipment leases for which the Company has elected not to separate lease and non-lease components, maintenance services are provided by the lessor at a fixed cost and are included in the fixed lease payments for the single, combined lease component. The Company also elected to discount its office equipment lease liabilities using a risk-free rate. Operating lease expense was $0.8 million for each of the years ended December 31, 2024 and 2023.

Other information related to operating leases was as follows:

|                                       |     | December 31, |      |   |     | December 31, |      |   |
|                                       |     |         2024 |      |   |     |         2023 |      |   |
| Weighted average remaining lease term |     |   1.36 years |      |   |     |   2.25 years |      |   |
| Weighted average discount rate        |     |              | 4.25 | % |     |              | 4.66 | % |

Maturities of operating lease liabilities under noncancellable leases are as follows (in thousands):

|                                   |     | Amount |     |   |
|:----------------------------------|:----|:-------|----:|:--|
| 2025                              |     | $      | 717 |   |
| 2026                              |     |        | 183 |   |
| Total undiscounted lease payments |     |        | 900 |   |
| Less: imputed interest            |     |        | (26 | ) |
| Total operating lease liabilities |     | $      | 874 |   |

Accrued and other current liabilities

Accrued and other current liabilities consist of the following (in thousands):

|                                             |     | 2024 | December 31, |     | 2023 | December 31, |
|:--------------------------------------------|:----|:-----|-------------:|:----|:-----|-------------:|
| Payroll and related expenses                |     | $    |        8,193 |     | $    |        9,880 |
| Accrued payables                            |     |      |        7,881 |     |      |        6,319 |
| Other taxes payable                         |     |      |        3,533 |     |      |          158 |
| Current portion of interest payable