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 Stockholders’ Deficit
| Accumulated | ||||||
|---|---|---|---|---|---|---|
| Additional · Other · Total | ||||||
| Common Stock · Paid-In · Comprehensive · Accumulated · Stockholders’ | ||||||
| Shares | Amount | Capital | Income (Loss) | Deficit | Deficit | |
| Balance as of December 31, 2023 | 129,396 | $129 | $435,626 | $(1,538) | $(549,654) | $(115,437) |
| Reverse recapitalization | (105,230) | (126) | 126 | — | — | — |
| Balance as of December 31, 2023(1) | 24,166 | 3 | 435,752 | (1,538) | (549,654) | (115,437) |
| Reverse recapitalization transaction, net of transaction costs and acquired liabilities | 21,667 | 2 | 50,031 | — | — | 50,033 |
| Stock-based compensation | — | — | 1,223 | — | — | 1,223 |
| Foreign currency translation adjustment | — | — | — | 1,064 | — | 1,064 |
| Net income | — | — | — | — | 757 | 757 |
| Balance as of March 31, 2024 | 45,833 | 5 | 487,006 | (474) | (548,897) | (62,360) |
| Issuance of common stock under common stock purchase agreement | 679 | — | 3,388 | — | — | 3,388 |
| Issuance of commitment shares in connection with common stock purchase agreement | 57 | — | — | — | — | — |
| Issuance of common stock to underwriter | 110 | — | 667 | — | — | 667 |
| Stock-based compensation | — | — | 323 | — | — | 323 |
| Foreign currency translation adjustment | — | — | — | 708 | — | 708 |
| Net loss | — | — | — | — | (1,043) | (1,043) |
| Balance as of June 30, 2024 | 46,679 | 5 | 491,384 | 234 | (549,940) | (58,317) |
| Issuance of common stock under common stock purchase agreement | 1,422 | — | 5,541 | — | — | 5,541 |
| Issuance of common stock and common stock warrants in a private placement | 742 | — | 2,240 | — | — | 2,240 |
| Issuance of common stock upon exercise of stock options | 118 | — | 13 | — | — | 13 |
| Forfeiture of unvested sponsor earnout shares | (1,350) | — | — | — | — | — |
| Stock-based compensation | — | — | 573 | — | — | 573 |
| Foreign currency translation adjustment | — | — | — | (1,180) | — | (1,180) |
| Net loss | — | — | — | — | (7,121) | (7,121) |
| Balance as of September 30, 2024 | 47,611 | $5 | $499,751 | $(946) | $(557,061) | $(58,251) |
(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 Unaudited Condensed Consolidated Financial Statements).
Condensed Consolidated Statements of Stockholders’ Deficit
| Accumulated | ||||||
|---|---|---|---|---|---|---|
| Additional · Other · Total | ||||||
| Common Stock · Paid-In · Comprehensive · Accumulated · Stockholders’ | ||||||
| Shares | Amount | Capital | Income (Loss) | Deficit | Deficit | |
| Balance as of December 31, 2022 | 127,761 | $128 | $433,990 | $(1,862) | $(527,185) | $(94,929) |
| Reverse recapitalization | (103,900) | (126) | 126 | — | — | — |
| Balance as of December 31, 2022(1) | 23,861 | 2 | 434,116 | (1,862) | (527,185) | (94,929) |
| Issuance of common stock upon exercise of stock options(1) | 5 | — | 1 | — | — | 1 |
| Stock-based compensation | — | — | 2 | — | — | 2 |
| Foreign currency translation adjustment | — | — | — | 674 | — | 674 |
| Net loss | — | — | — | — | (1,393) | (1,393) |
| Balance as of March 31, 2023(1) | 23,866 | 2 | 434,119 | (1,188) | (528,578) | (95,645) |
| Issuance of common stock upon exercise of stock options(1) | 33 | — | 4 | — | — | 4 |
| Issuance of common stock from convertible promissory notes conversion(1) | 4 | — | 72 | — | — | 72 |
| Stock-based compensation | — | — | 3 | — | — | 3 |
| Foreign currency translation adjustment | — | — | — | 175 | — | 175 |
| Net loss | — | — | — | — | (6,567) | (6,567) |
| Balance as of June 30, 2023(1) | 23,903 | 2 | 434,198 | (1,013) | (535,145) | (101,958) |
| Issuance of common stock upon exercise of stock options(1) | 171 | 1 | 17 | — | — | 18 |
| Issuance of common stock from convertible promissory notes conversion(1) | 1 | — | — | — | — | — |
| Stock-based compensation | — | — | 3 | — | — | 3 |
| Foreign currency translation adjustment | — | — | — | 537 | — | 537 |
| Net loss | — | — | — | — | (4,346) | (4,346) |
| Balance as of September 30, 2023(1) | 24,075 | $3 | $434,218 | $(476) | $(539,491) | $(105,746) |
(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 Unaudited Condensed Consolidated Financial Statements).
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