Record Annual Contract Value and Royalties
Arteris achieved a record annual contract value plus royalties of $74.9 million, reflecting a 24% year-over-year growth.
Increased Product Adoption in AI and Automotive
AI applications accounted for over half of licensing dollars, and significant adoption was seen in automotive, with new customers deploying FlexGen for next-generation EVs and high-end automotive semiconductor designs.
Strong Financial Performance
Total revenue for the third quarter was $17.4 million, up 5% sequentially and 18% year-over-year, exceeding guidance. Remaining performance obligations increased by 34% year-over-year.
Positive Cash Flow and No Debt
Arteris ended the quarter with $56.2 million in cash, cash equivalents, and investments with no financial debt. Free cash flow was positive at $2.5 million.
Recognition and Awards
Arteris was recognized as the most innovative technology company of the year by the 22nd Annual International Business Awards.