Silvaco Group, Inc. Files Q1 2024 10-Q

TL;DR

Silvaco Group Q1 10-Q filed. Financials look steady, software biz chugging along.

AI Summary

Silvaco Group, Inc. filed its 10-Q for the period ending March 31, 2024. The filing details financial performance and operational updates for the first quarter of 2024. Key financial data and business segment information are presented, reflecting the company's ongoing activities in the software industry.

Why It Matters

This filing provides investors and analysts with the latest financial snapshot of Silvaco Group, Inc., crucial for understanding the company's performance and outlook in the pre-packaged software sector.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial and operational information without immediate, significant new risks disclosed.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Marks the end of the financial quarter being reported.)
• 2024-01-01 — Reporting Period Start Date (Marks the beginning of the financial quarter being reported.)
• 2023-12-31 — Prior Year End Date (Provides a comparison point for year-end financial status.)

Key Players & Entities

• Silvaco Group, Inc. (company) — Filer of the 10-Q
• 20240331 (date) — End of the reporting period
• 20240620 (date) — Filing date
• 7372 (other) — Standard Industrial Classification for pre-packaged software
• SANTA CLARA, CA (location) — Company's business and mailing address

FAQ

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 per share SVCO The Nasdaq Stock Market
• $1.2 b — total annual gross revenue is at least $1.2 billion, or (c) when the Company is deeme
• $700.0 million — that is held by non-affiliates exceeds $700.0 million as of the prior June 30th and (ii) the
• $1.0 billion — which the Company has issued more than $1.0 billion in non-convertible debt securities duri

Filing Documents

• svco-20240331.htm (10-Q) — 1068KB
• exhibit311.htm (EX-31.1) — 11KB
• exhibit312.htm (EX-31.2) — 10KB
• exhibit321.htm (EX-32.1) — 5KB
• exhibit322.htm (EX-32.2) — 5KB
• 0001628280-24-029005.txt ( ) — 5194KB
• svco-20240331.xsd (EX-101.SCH) — 37KB
• svco-20240331_cal.xml (EX-101.CAL) — 56KB
• svco-20240331_def.xml (EX-101.DEF) — 205KB
• svco-20240331_lab.xml (EX-101.LAB) — 456KB
• svco-20240331_pre.xml (EX-101.PRE) — 329KB
• svco-20240331_htm.xml (XML) — 523KB

Financial Information

PART I. Financial Information 1

Financial Statement s (unaud ited)

Item 1. Financial Statement s (unaud ited) 1 Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Income 2 Condensed Consolidated Statements of Comprehensive Income 3 Consolidated Statements of Stockholders' Equity 4 Condensed Consolidated Statements of Cashflows 5 Notes to t he Condensed Consolidated Financial Statements 6

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 19

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 29

Controls and Procedures

Item 4. Controls and Procedures 29

Other Information

PART II. Other Information 31

Legal Proceedings

Item 1. Legal Proceedings 31

Risk Factors

Item 1A. Risk Factors 31

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 62

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 63

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 63

Other Information

Item 5. Other Information 63

Exhibits

Item 6. Exhibits 64 SI GNATURES SILVACO GROUP, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited, in thousands except share and par value amounts) March 31, 2024 December 31, 2023 ASSETS Current assets: Cash $ 5,739 $ 4,421 Accounts receivable, net 5,562 4,006 Contract assets, net 9,240 8,749 Prepaid expenses and other current assets 1,748 2,549 Deferred transaction costs 1,943 1,163 Total current assets 24,232 20,888 Long-term assets: Property and equipment, net 656 591 Operating lease right-of-use assets, net 2,157 1,963 Intangible assets, net 273 342 Goodwill 9,026 9,026 Long-term portion of contract assets, net 8,961 6,250 Other assets 2,057 1,825 Total long-term assets 23,130 19,997 Total assets $ 47,362 $ 40,885 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 3,332 $ 2,495 Accrued expenses and other current liabilities 9,945 10,255 Accrued income taxes 2,185 1,626 Deferred revenue, current 7,935 7,882 Operating lease liabilities, current 817 735 Related party line of credit 2,016 2,000 Total current liabilities 26,230 24,993 Long-term liabilities: Deferred revenue, non-current 4,737 5,071 Operating lease liabilities, non-current 1,320 1,198 Long-term loan facility 4,283 — Other long-term liabilities 197 221 Total liabilities 36,767 31,483 Commitments and contingencies (Note 11) Stockholders' equity: Common stock, $ 0.0001 par value; 25,000,000 shares authorized; 20,000,000 shares issued and outstanding 2 2 Retained earnings 12,770 11,392 Accumulated other comprehensive loss ( 2,177 ) ( 1,992 ) Total stockholders' equity 10,595 9,402 Total liabilities and stockholders' equity $ 47,362 $ 40,885 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 1 Table of Contents SILVACO GROUP, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited, in thousands except share and per share amounts) Three Months Ended March

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View this 10-Q filing on SEC EDGAR