Company: GCTS
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0000950170-25-044438
Chunk: 158

Company: GCT Semiconductor Holding, Inc.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1B
Chunk 158
---

    $
    1,518

    $
    (562,033
    )
     
    $
    (59,315
    )

(1)Amounts as of December 31, 2023 and before that date differ from those in prior year consolidated financial statements as they were retrospectively adjusted as a result of the accounting for the Business Combination (as defined in the Notes to the Consolidated 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