GCT Semiconductor Holding, Inc.
For the period ended Dec 31, 2024. Filed Mar 25, 2025.
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FY2024 · Filed Mar 25, 2025
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Consolidated Statements of Operations
(in thousands, except per share amounts)
| Year EndedDecember 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Net revenues: | ||
| Product | $4,771 | $10,968 |
| Service | 4,357 | 5,060 |
| Total net revenues | 9,128 | 16,028 |
| Cost of net revenues: | ||
| Product | 2,523 | 7,343 |
| Service | 1,529 | 1,951 |
| Total cost of net revenues | 4,052 | 9,294 |
| Gross profit | 5,076 | 6,734 |
| Operating expenses: | ||
| Research and development | 17,329 | 10,712 |
| Sales and marketing | 3,920 | 3,188 |
| General and administrative | 10,798 | 7,392 |
| Gain on extinguishment of liability | (14,636) | — |
| Loss on impairment of long-lived assets | 787 | — |
| Total operating expenses | 18,198 | 21,292 |
| Loss from operations | (13,122) | (14,558) |
| Interest expense | (3,867) | (6,246) |
| Gain on foreign currency transactions, net | 4,690 | 266 |
| Change in fair value of common stock warrant liabilities | 2,208 | — |
| Change in fair value of convertible promissory notes | (1,470) | (1,428) |
| Loss from initial recognition of common stock forward liability | (586) | — |
| Other income, net | 213 | 38 |
| Loss before provision for income taxes | (11,934) | (21,928) |
| Provision for income taxes | 445 | 541 |
| Net loss | $(12,379) | $(22,469) |
| Net loss per common share(1): | ||
| Basic and diluted | $(0.30) | $(0.94) |
| Weighted average common shares outstanding(1): | ||
| Basic and diluted | 40,630 | 23,991 |
(1)
Amounts for the year ended 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).
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