Company: GCTS
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0000950170-25-044438
Chunk: 179

Company: GCT Semiconductor Holding, Inc.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1B
Chunk 179
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 (in thousands): 

        December 31,

        December 31,

        2024

        2023

        Prepaid insurance and other expenses
         
        $
        1,192

        $
        433

        Prepaid research and development

        472

        —

        Lease deposit

        389

        434

        Prepaid inventory

        209

        279

        Other receivables and current assets

        70

        117

        Deferred transaction costs

        —

        1,643

        Total prepaid expenses and other current assets
         
        $
        2,332

        $
        2,906

       Property and equipment, netProperty and equipment, net consists of the following (in thousands): 

        December 31,

        December 31,

        2024

        2023

        Production equipment
         
        $
        13,774

        $
        14,887

        IT equipment

        1,249

        1,127

        Furniture and fixtures

        717

        784

        Leasehold improvements

        272

        293

        Other property and equipment

        8

        —

        Total property and equipment

        16,020

        17,091

        Less: accumulated depreciation and amortization

        (15,151
        )

        (16,319
        )

        Total property and equipment, net
         
        $
        869

        $
        772

       For the years ended December 31, 2024 and 2023, depreciation expense related to the Company’s property and equipment was $0.5 million and $0.6 million, respectively.

 63

GCT SEMICONDUCTOR HOLDING, INC.Notes to Consolidated Financial Statements 

Intangibles, netFor the years ended December 31, 2024 and 2023, amortization expense related to the Company’s intangible assets was $0.2 million and $0.4 million, respectively.LeasesThe Company also has several noncancellable operating leases, primarily for office equipment and office space that expire over the next two years. The Company’s leases generally do not include termination options for either party to the lease or restrictive financial or other covenants.Payments due under the lease contracts include fixed payments plus, for many of the Company’s leases, variable