Company: GCTS
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001193125-25-277777
Chunk: 1

Company: GCT Semiconductor Holding, Inc.
Filing Date: 2025-11-12
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)

     September 30, 2025

     December 31, 2024

     Assets

     Current assets:

     Cash and cash equivalents
      
     $
     8,343

     $
     1,435

     Accounts receivable, net

     3,686

     5,740

     Inventory

     1,905

     2,977

     Contract assets

     5,631

     5,107

     Prepaid expenses and other current assets

     2,302

     2,332

     Total current assets

     21,867

     17,591

     Property and equipment, net

     1,582

     869

     Operating lease right-of-use assets

     412

     849

     Intangibles, net

     10

     65

     Other assets

     404

     523

     Total assets
      
     $
     24,275

     $
     19,897

     Liabilities and Stockholders’ Deficit

     Current liabilities:

     Accounts payable
      
     $
     1,053

     $
     1,031

     Contract liabilities

     11

     48

     Accrued and other current liabilities

     20,970

     21,205

     Common stock forward liability

     4

     315

     Borrowings

     59,413

     37,626

     Convertible promissory notes, current

     5,287

     —

     Operating lease liabilities, current

     372

     697

     Total current liabilities

     87,110

     60,922

     Convertible promissory notes, net of current

     —

     4,947

     Net defined benefit liabilities

     7,913

     7,055

     Long-term operating lease liabilities

     63

     177

     Income taxes payable

     2,330

     2,076

     Warrant liabilities

     6,923

     3,750

     Other liabilities

     85

     285

     Total liabilities

     104,424

     79,212