Arteris, Inc. ( (AIP) ) has released its Q3 earnings. Here is a breakdown of the information Arteris, Inc. presented to its investors.
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Arteris, Inc., a prominent player in the semiconductor industry, specializes in providing system IP solutions that enhance the development of system-on-chip (SoC) for various electronic systems. The company is known for its network-on-chip (NoC) interconnect IP and automation technology, contributing to high-performance and energy-efficient products.
In its latest earnings report, Arteris announced a record Annual Contract Value plus royalties of $60.5 million for the third quarter of 2024, marking its third consecutive quarter of positive free cash flow. The company’s revenue for the quarter stood at $14.7 million, with significant contributions from major technology customers, highlighting the growing demand for their SoC solutions in sectors like automotive and AI.
Key financial highlights include a 6% year-over-year increase in Annual Contract Value and a 25% rise in remaining performance obligations. The company reported a non-GAAP net loss of $3.1 million, showing improvement from the previous year. Strategic moves such as the introduction of NoC tiling and partnerships with industry players like SiFive and VeriSilicon demonstrate Arteris’ commitment to innovation and market expansion.
Looking ahead, Arteris expects continued growth in the fourth quarter and full year of 2024, with guidance indicating an increase in revenues and Annual Contract Value. The management remains optimistic about the rising adoption of its technologies across diverse verticals, positioning the company for sustained progress in the competitive semiconductor landscape.
