GCT Semiconductor Holding Inc
For the period ended Sep 30, 2024. Filed Nov 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 14, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations
(unaudited, in thousands, except per share amounts)
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Net revenues: | ||||
| Product | $1,715 | $4,026 | $4,111 | $8,667 |
| Service | 895 | 450 | 3,232 | 3,172 |
| Total net revenues | 2,610 | 4,476 | 7,343 | 11,839 |
| Cost of net revenues: | ||||
| Product | 710 | 3,985 | 1,522 | 5,954 |
| Service | 274 | (36) | 1,321 | 1,006 |
| Total cost of net revenues | 984 | 3,949 | 2,843 | 6,960 |
| Gross profit | 1,626 | 527 | 4,500 | 4,879 |
| Operating expenses: | ||||
| Research and development | 4,210 | 2,367 | 13,895 | 7,254 |
| Sales and marketing | 949 | 744 | 2,921 | 2,337 |
| General and administrative | 2,379 | 1,433 | 8,075 | 5,537 |
| Gain on extinguishment of liability | — | — | (14,636) | — |
| Total operating expenses | 7,538 | 4,544 | 10,255 | 15,128 |
| Loss from operations | (5,912) | (4,017) | (5,755) | (10,249) |
| Interest expense | (667) | (1,220) | (3,509) | (4,878) |
| Other income (expenses), net | (481) | 929 | 2,044 | 2,946 |
| Loss before provision for income taxes | (7,060) | (4,308) | (7,220) | (12,181) |
| Provision for income taxes | 61 | 38 | 187 | 125 |
| Net loss | $(7,121) | $(4,346) | $(7,407) | $(12,306) |
| Net loss per common share(1): | ||||
| Basic and diluted | $(0.16) | $(0.18) | $(0.19) | $(0.51) |
| Weighted-average common shares outstanding(1): | ||||
| Basic and diluted | 45,645 | 24,055 | 38,418 | 23,934 |
(1)
Amounts for the three and nine months ended September 30, 2023 and before that date differ from those in prior year condensed 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 Unaudited Condensed Consolidated Financial Statements).
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