Company: GCTS
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0000950170-25-044438
Chunk: 260

Company: GCT Semiconductor Holding, Inc.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 8
Chunk 260
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 Financial Statements).

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

 50

GCT SEMICONDUCTOR HOLDING, INC.

Consolidated Statements of Cash Flows

(in thousands)

    Year Ended December 31,

    2024

    2023

    Operating activities:

    Net loss
     
    $
    (12,379
    )
     
    $
    (22,469
    )

    Adjustments to reconcile net loss to net cash used in operating activities:

    Depreciation and amortization

    691

    1,062

    Loss on impairment of long-lived assets

    787

    —

    Amortization of right-of-use assets

    634

    728

    Stock-based compensation

    2,700

    43

    Issuance of common stock to underwriter

    667

    —

    Change in provision for credit losses

    (431
    )

    1,095

    Change in fair value of convertible promissory notes

    1,470

    1,428

    Change in fair value of warrant liabilities

    (2,208
    )

    —

    Loss from initial recognition of common stock forward liability

    586

    —

    Gain on extinguishment of liability

    (14,636
    )

    —

    Changes in operating assets and liabilities:

    Accounts receivable

    (339
    )

    (1,562
    )

    Inventory

    (1,491
    )

    1,994

    Contract assets

    (1,668
    )

    (2,553
    )

    Prepaid expenses and other current assets

    1,064

    (233
    )

    Other assets

    (327
    )

    112

    Accounts payable

    (2,563
    )

    296

    Contract liabilities

    —

    (603
    )

    Accrued and other current liabilities

    (3,232
    )

    11,471

    Net defined benefit liabilities

    480

    784

    Income tax payable

    91

    255

    Lease liabilities

    (620
    )

    (707
    )

    Other liabilities

    (233
    )

    32

    Net cash used in operating activities

    (30,957
    )

    (