Press release
Arteris Announces Financial Results for the First Quarter 2022 and Estimated Second Quarter and Full Year 2022 Guidance
CAMPBELL, Calif., May 10, 2022 (GLOBE NEWSWIRE) -- Arteris, Inc. (Arteris or Arteris IP), a leading provider of network-on-chip (NoC) interconnect and other
About this update from Arteris, Inc.
[{"type":"text","content":"CAMPBELL, Calif., May 10, 2022 (GLOBE NEWSWIRE) -- Arteris, Inc. (Arteris or Arteris IP), a leading provider of network-on-chip (NoC) interconnect and other intellectual property (IP) technology that manages the on-chip communications in system-on-chip (SoC) semiconductor devices, today announced financial results for the first quarter ended March 31, 2022 as well as estimated second quarter and full year 2022 guidance. \"We’re excited to report a strong start to 2022, with Annual Contract Value plus Trailing Twelve Month Royalties of $52.8 million, up 26% year-over-year,” said K. Charles Janac, President and CEO of Arteris IP. “The ongoing democratization of SoC design as well as a disintermediation of the semiconductor supply chain is driving a strong need for automation of System IP solutions in order to compensate for a shortage of SoC architects and skilled interconnect IP engineers. We believe we are uniquely positioned to capitalize on this nascent but immense opportunity as it emerges.” First Quarter 2022 Financial Highlights: Annual Contract Value (ACV) and Trailing-twelve-month (TTM) royalties of $52.8 million, up 26% year-over-yearRevenue of $11.8 million, up 77% year-over-yearRemaining performance obligation (RPO) of $60.5 million, up 28% year-over-yearOperating loss of $6.6 million or 56% of revenueNon-GAAP operating loss of $4.2 million or 36% of revenue, compared to a loss of $5.8 million in the year-ago periodNet loss of $6.8 million or $0.22 per shareNon-GAAP net loss of $4.4 million or $0.14 per shareNon-GAAP free cash flow of $(1.5) million or (12)% of revenue First Quarter 2022 Business Highlights: 19 designs starts in the first quarter, including two in automotive, four in consumer electronics and seven enabling artificial intelligence/machine learning (AI/ML);We added seven Active Customers during the first quarter, of which four are customers enabling AI/ML for IoT, data center and automotive applications;We announced that BMW licensed Arteris IP for a Neural Network Accelerator project; andWe further strengthened our executive team during the quarter with the addition of Pankaj Mayor as Executive Vice President Global Sales and Michal Siwinski as Chief Marketing Officer, each bringing significant industry as well as public company experience. Estimated Second Quarter and Full Year 2022 Guidance: Q2 2022FY...