Company: GCTS
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0000950170-25-044438
Chunk: 281

Company: GCT Semiconductor Holding, Inc.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 8
Chunk 281
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        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 payments. For office space leases, variable payments include payments for the Company’s proportionate share of the building’s property taxes, insurance, and common area maintenance. For office equipment leases for which the Company has elected not to separate lease and non-lease components, maintenance services are provided by the lessor at a fixed cost and are included in the fixed lease payments for the single, combined lease component. The Company also elected