$GCTS
GCT Semiconductor Holding, Inc.

2024 Q4 Form 10-Q Financial Statement

#000095017024127082 Filed on November 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $2.610M $0.00
YoY Change
Cost Of Revenue $984.0K $3.949M
YoY Change -75.08%
Gross Profit $1.626M $527.0K
YoY Change 208.54%
Gross Profit Margin 62.3%
Selling, General & Admin $3.328M $2.177M
YoY Change 52.87%
% of Gross Profit 204.67% 413.09%
Research & Development $4.210M $2.367M
YoY Change 77.86%
% of Gross Profit 258.92% 449.15%
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $7.538M $500.0K
YoY Change 1407.6% 74.48%
Operating Profit -$5.912M -$500.1K
YoY Change 1082.05% 74.53%
Interest Expense $667.0K $560.0K
YoY Change 19.11% -64.75%
% of Operating Profit
Other Income/Expense, Net -$481.0K -$500.7K
YoY Change -3.94% -113.14%
Pretax Income -$7.060M -$1.001M
YoY Change 605.39% -128.4%
Income Tax $61.00K $106.3K
% Of Pretax Income
Net Earnings -$7.121M -$1.107M
YoY Change 543.16% -134.59%
Net Earnings / Revenue -272.84%
Basic Earnings Per Share -$0.16 -$0.18
Diluted Earnings Per Share -$0.16 -$0.09
COMMON SHARES
Basic Shares Outstanding 47.74M 47.30M 24.06M
Diluted Shares Outstanding 45.65M 24.06M

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $200.0K
YoY Change -51.18%
Cash & Equivalents $1.800M $212.9K
Short-Term Investments
Other Short-Term Assets $96.00K $0.00
YoY Change -100.0%
Inventory $3.110M
Prepaid Expenses $1.372M $49.48K
Receivables $6.441M
Other Receivables
Total Short-Term Assets $20.01M $262.4K
YoY Change 7523.89% -67.8%
LONG-TERM ASSETS
Property, Plant & Equipment $641.0K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $43.20M
YoY Change -87.8%
Other Assets $810.0K
YoY Change
Total Long-Term Assets $2.615M $43.18M
YoY Change -93.94% -87.8%
TOTAL ASSETS
Total Short-Term Assets $20.01M $262.4K
Total Long-Term Assets $2.615M $43.18M
Total Assets $22.62M $43.44M
YoY Change -47.93% -87.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.070M $2.900M
YoY Change -63.1% 2385.22%
Accrued Expenses $3.200M
YoY Change
Deferred Revenue $511.0K
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $36.83M
YoY Change
Total Short-Term Liabilities $61.95M $6.323M
YoY Change 879.7% 1150.58%
LONG-TERM LIABILITIES
Long-Term Debt $4.830M $1.700M
YoY Change 184.12% -13.4%
Other Long-Term Liabilities $242.0K $13.70M
YoY Change -98.23% -16.15%
Total Long-Term Liabilities $5.072M $15.40M
YoY Change -67.06% -15.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $61.95M $6.323M
Total Long-Term Liabilities $5.072M $15.40M
Total Liabilities $80.87M $21.66M
YoY Change 273.35% 15.17%
SHAREHOLDERS EQUITY
Retained Earnings -$557.1M -$21.32M
YoY Change 2512.51% 23.6%
Common Stock $5.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$58.25M -$21.32M
YoY Change
Total Liabilities & Shareholders Equity $22.62M $43.44M
YoY Change -47.93% -87.76%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income -$7.121M -$1.107M
YoY Change 543.16% -134.59%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$490.0K
YoY Change 272.71%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000
YoY Change
NET CHANGE
Cash From Operating Activities -490.0K
Cash From Investing Activities 0.000
Cash From Financing Activities 0.000
Net Change In Cash -490.0K
YoY Change 272.71%
FREE CASH FLOW
Cash From Operating Activities -$490.0K
Capital Expenditures
Free Cash Flow
YoY Change

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<p style="font-size:10pt;margin-top:10pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of the accompanying unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make judgments, estimates, and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenues and expenses. These judgments, estimates, and assumptions are used for but not limited to revenue recognition, provision for credit losses, deferred income taxes and related valuation allowances, inventory obsolescence, recoverability of long-lived assets, certain accrued expenses, stock-based compensation, determination of the fair value of the Company’s financial instruments, including convertible promissory notes, common stock of Legacy GCT prior to the reverse recapitalization, warrant liabilities, stock options, and common stock forward liability. The Company bases its estimates and judgments on historical experience and on various other assumptions that it believes are reasonable under the circumstances. Actual results could differ from these estimates, and these differences may be material.</span></p>
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ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalSharesOfCommonStockReservedForIssuance
90000
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
900000
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
573000
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2119000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
200000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
100000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.026
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.01
CY2024Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3100000
CY2024Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
1700000
CY2024Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2024Q3 us-gaap Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
8328000
CY2023Q4 us-gaap Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
7997000
CY2024Q3 gcts Postemployment Benefits Plan Assets
PostemploymentBenefitsPlanAssets
276000
CY2023Q4 gcts Postemployment Benefits Plan Assets
PostemploymentBenefitsPlanAssets
308000
CY2024Q3 us-gaap Postemployment Benefits Liability Noncurrent
PostemploymentBenefitsLiabilityNoncurrent
8052000
CY2023Q4 us-gaap Postemployment Benefits Liability Noncurrent
PostemploymentBenefitsLiabilityNoncurrent
7689000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2024Q3 us-gaap Noncurrent Assets
NoncurrentAssets
1706000
CY2023Q4 us-gaap Noncurrent Assets
NoncurrentAssets
2293000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
48718000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4690000
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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gcts-20240930.htm Edgar Link pending
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