GCT Semiconductor Holding Inc

For the period ended Mar 31, 2024. Filed May 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.

Mar 31, 2024 · Filed May 14, 2024

GCTS$1.45+5.1%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Balance Sheets

**(**in thousands, except per share data)


· March 31, 2024 · December 31, 2023
· · (unaudited) · · ·
Assets · ·
Current assets: · ·
Cash and cash equivalents	$16,122	$258
Accounts receivable, net	5,103	4,920
Inventory	1,784	1,486
Contract assets	4,313	3,439
Prepaid expenses and other current assets	5,466	2,906
Total current assets	32,788	13,009
Property and equipment, net	644	772
Operating lease right-of-use assets	1,343	1,521
Intangibles, net	187	245
Other assets	857	881
Total assets	$35,819	$16,428

Liabilities and Stockholders’ Deficit
Current liabilities:
Accounts payable	$1,242	$17,814
Contract liabilities	35	48
Accrued and other current liabilities	25,152	23,956
Borrowings	39,840	44,509
Convertible promissory notes, current	5,645	27,794
Operating lease liabilities, current	679	680
Total current liabilities	72,593	114,801
Convertible promissory notes, net of current	4,672	6,239
Net defined benefit liabilities	7,488	7,689
Long-term operating lease liabilities	674	850
Income taxes payable	2,096	2,178
Warrant liabilities	10,584	—
Other liabilities	72	108
Total liabilities	98,179	131,865
Commitments and contingencies (Note 8)
Stockholders’ deficit:
Preferred stock, par value $0.0001 per share; 40,000 and 82,352 shares authorized as of March 31, 2024 and December 31, 2023, respectively; no shares issued and outstanding as of March 31, 2024 and December 31, 2023	—	—
Common stock, par value $0.0001 per share; 400,000 and 200,000 shares authorized as of March 31, 2024 and December 31, 2023, respectively; 45,833 and 24,166 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively(1)	5	3
Additional paid-in capital(1)	487,006	435,752
Accumulated other comprehensive loss	(474)	(1,538)
Accumulated deficit	(548,897)	(549,654)
Total stockholders’ deficit	(62,360)	(115,437)
Total liabilities and stockholders’ deficit	$35,819	$16,428

(1)	Amounts as of December 31, 2023 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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