Company: GCTS
Filing Date: 2025-03-26
Form Type: 424B3
Source: 0000929638-25-001281
Chunk: 131

Company: GCT Semiconductor Holding, Inc.
Filing Date: 2025-03-26
Form: 424B3
Chunk 131
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 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         |     |      |          762 |     |      |        6,915 |
| Other                                       |     |      |          836 |     |      |          684 |
| Total accrued and other current liabilities |     | $    |       21,205 |     | $    |       23,956 |

64 GCT SEMICONDUCTOR HOLDING, INC. Notes to Consolidated Financial Statements

Contract Assets

The following represents the activity related to contract assets (in thousands):

|                                     |     | Year Ended   
 December 31, |   2024 |   |     |   |   2023 |   |
|:------------------------------------|:----|:-------------|-------:|:--|:----|:--|-------:|:--|
| Beginning of period                 |     | $            |  3,439 |   |     | $ |    886 |   |
| Service revenue invoiced            |     |              | (2,640 | ) |     |   | (1,854 | ) |
| Unbilled service revenue recognized |     |              |  4,308 |   |     |   |  4,407 |   |
| End of period                       |     | $            |  5,107 |   |     | $ |  3,439 |   |

7. Debt

The Company’s outstanding debt was as follows (in thousands):

|                                         |     | December 31, 2024 |        |     |            |         |   |     | December 31, 2023 |        |     |            |         |   |
|:----------------------------------------|:----|:------------------|