GCT Semiconductor Holding, Inc.
For the period ended Dec 31, 2024. Filed Mar 25, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 25, 2025
GCTS$1.45+5.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated State ments of Cash Flows
| Year Ended December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating activities: | ||
| Net loss | $(12,379) | $(22,469) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 691 | 1,062 |
| Loss on impairment of long-lived assets | 787 | — |
| Amortization of right-of-use assets | 634 | 728 |
| Stock-based compensation | 2,700 | 43 |
| Issuance of common stock to underwriter | 667 | — |
| Change in provision for credit losses | (431) | 1,095 |
| Change in fair value of convertible promissory notes | 1,470 | 1,428 |
| Change in fair value of warrant liabilities | (2,208) | — |
| Loss from initial recognition of common stock forward liability | 586 | — |
| Gain on extinguishment of liability | (14,636) | — |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (339) | (1,562) |
| Inventory | (1,491) | 1,994 |
| Contract assets | (1,668) | (2,553) |
| Prepaid expenses and other current assets | 1,064 | (233) |
| Other assets | (327) | 112 |
| Accounts payable | (2,563) | 296 |
| Contract liabilities | — | (603) |
| Accrued and other current liabilities | (3,232) | 11,471 |
| Net defined benefit liabilities | 480 | 784 |
| Income tax payable | 91 | 255 |
| Lease liabilities | (620) | (707) |
| Other liabilities | (233) | 32 |
| Net cash used in operating activities | (30,957) | (8,827) |
| Investing activities: | ||
| Purchases of property and equipment | (542) | (331) |
| Net cash used in investing activities | (542) | (331) |
| Financing activities: | ||
| Proceeds from reverse recapitalization and PIPE Financing, net of transaction costs | 17,238 | — |
| Proceeds from issuance of convertible promissory notes | 16,290 | 2,000 |
| Proceeds from borrowings | 11,860 | 8,147 |
| Proceeds from issuance of common stock under common stock purchase agreement | 8,532 | — |
| Proceeds from issuance of common stock and common stock warrants in a private placement | 2,240 | — |
| Proceeds from exercise of stock options | 15 | 23 |
| Repayments of borrowings | (14,065) | (1,504) |
| Repayments of convertible promissory notes | (5,637) | (500) |
| Payments of finance lease liabilities | — | (17) |
| Net cash provided by financing activities | 36,473 | 8,149 |
| Effect of exchange rate changes on cash and cash equivalents | (3,797) | (131) |
| Net increase (decrease) in cash and cash equivalents | 1,177 | (1,140) |
| Cash and cash equivalents at beginning of period | 258 | 1,398 |
| Cash and cash equivalents at end of period | $1,435 | $258 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for interest | $5,151 | $2,259 |
| Cash paid for income taxes | $269 | $116 |
| Cash paid for operating leases | $744 | $766 |
| Non-cash financing activities: | ||
| Issuance of common stock from conversion of convertible promissory notes | $41,209 | $72 |
| Issuance of common stock from cashless warrant exercise | $— | $1,499 |
| Settlement of common stock forward liability in equity | $271 | $— |
| Proceeds from issuance of common stock withheld for outstanding payables | $975 | $— |
| Operating lease right-of-use assets obtained in exchange for operating lease liabilities | $54 | $1,476 |
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