Company: GCTS
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0000950170-25-071424
Chunk: 1

Company: GCT Semiconductor Holding, Inc.
Filing Date: 2025-05-14
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)

     March 31, 2025

     December 31, 2024

     Assets

     Current assets:

     Cash and cash equivalents
      
     $
     1,039

     $
     1,435

     Accounts receivable, net

     4,541

     5,740

     Inventory

     3,124

     2,977

     Contract assets

     5,499

     5,107

     Prepaid expenses and other current assets

     1,211

     2,332

     Total current assets

     15,414

     17,591

     Property and equipment, net

     851

     869

     Operating lease right-of-use assets

     680

     849

     Intangibles, net

     32

     65

     Other assets

     499

     523

     Total assets
      
     $
     17,476

     $
     19,897

     Liabilities and Stockholders’ Deficit

     Current liabilities:

     Accounts payable
      
     $
     1,438

     $
     1,031

     Contract liabilities

     36

     48

     Accrued and other current liabilities

     19,168

     21,205

     Common stock forward liability

     20

     315

     Borrowings

     45,216

     37,626

     Convertible promissory notes, current

     4,966

     —

     Operating lease liabilities, current

     583

     697

     Total current liabilities

     71,427

     60,922

     Convertible promissory notes, net of current

     —

     4,947

     Net defined benefit liabilities

     7,300

     7,055

     Long-term operating lease liabilities

     120

     177

     Income taxes payable

     2,074

     2,076

     Warrant liabilities

     2,101

     3,750

     Other liabilities

     80

     285

     Total liabilities

     83,102

     79,212