Press release
Arteris Announces Financial Results for the First Quarter 2023 and Estimated Second Quarter and Full Year 2023 Guidance
CAMPBELL, Calif., May 04, 2023 (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 04, 2023 (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, 2023 as well as estimated second quarter and full year 2023 guidance. “We’re excited to report a solid start to the year, with Annual Contract Value plus Trailing-Twelve-Month Royalties of $54.8 million, up 20% year-over-year when adjusted to exclude HiSilicon and DJI and up 5% sequentially,” said K. Charles Janac, President and CEO of Arteris. “With the added focus on the broader automotive supply chain, including OEMs, and following last year’s Arm automotive partnership, we are pleased to report that in the year to date, Arteris secured four new OEM design wins, including three new car companies across the US, Europe and APAC. In addition to automotive, we continue to see strong demand from AI and Machine Learning applications which increasingly require network-on-chip IP and benefit from SoC integration automation. We believe Arteris is well positioned to continue to gain market share as the growing complexity of automotive, consumer electronics, and AI/ML applications, creates a need for third party commercial System IP,” concluded K. Charles Janac. First Quarter 2023 Financial Highlights: Annual Contract Value (ACV) and Trailing-twelve-month (TTM) royalties of $54.8 million, up 4% year-over-yearRevenue of $13.2 million, up 12% year-over-yearRemaining performance obligation (RPO) of $57.3 millionOperating loss of $8.8 million or 67% of revenueNon-GAAP operating loss of $5.6 million or 42.4% of revenue, compared to a loss of $4.2 million in the year-ago periodNet loss of $9.0 million or $0.26 per shareNon-GAAP net loss of $5.8 million or $0.17 per shareNon-GAAP free cash flow of $(8.5) million or (65)% of revenue First Quarter 2023 Business Highlights: 22 confirmed designs starts in the first quarter, highlighting sustained customer usage of Arteris technology;Added six Active Customers in the first quarter across key verticals, including in Enterprise & Computing, Consumer, and Automotive;Tenstorrent licensed Arteris IP for AI high-performance computing and datacenter RISC-V c...