Press release
Arteris Announces Financial Results for the Fourth Quarter and Full Year 2021 and Estimated First Quarter and Full Year 2022 Guidance
CAMPBELL, Calif., March 03, 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., March 03, 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 fourth quarter and year ended December 31, 2021, and provided estimated first quarter and full year 2022 guidance. \"We’re excited to see our momentum continue in the fourth quarter, with our total number of Active Customers increasing from 179 to 192 across a broad base of applications including Machine Learning, Automotive and 5G,” said K. Charles Janac, President and CEO of Arteris IP. “As we look ahead we believe there are a number of tailwinds that help our business including the increase in SoC complexity making it increasingly difficult for our customers to develop system IP solutions in house, and the increasing number of IP blocks in SoC designs also increasing the value of IPD IP deployment software solutions. As a result, we are seeing a trend toward SoC system IP solutions being increasingly licensed from industry leading commercial vendors like Arteris IP.\" Fourth Quarter 2021 Financial Highlights: Annual Contract Value (ACV) and trailing twelve months (TTM) royalties of $50.0 million, up 19% year-over-yearRevenue of $11.4 millionRemaining performance obligation (RPO) of $60.5 million, up 26% year-over-yearOperating loss of $7.3 million or 64% of revenueNon-GAAP operating loss of $2.8 million or 24% of revenueNet loss of $7.8 million or $0.27 per shareNon-GAAP net loss of $3.3 million or $0.12 per shareNon-GAAP free cash flow of $2.9 million or 25% of revenue Full year 2021 Financial Highlights: Revenue of $37.9 million, up 19% year-over-yearOperating loss of $21.8 million or 57% of revenueNon-GAAP operating loss of $15.5 million or 41% of revenueNet loss of $23.4 million or $1.06 per shareNon-GAAP net loss of $17.2 million or $0.78 per shareNon-GAAP free cash flow of $(1.6) million or (4)% of revenue Fourth Quarter 2021 Business Highlights: Announced pricing of our initial public offering for net proceeds of $71.1 million after deducting underwriting discounts and commissions and offering expenses, including the exercise of the underwriters’ overallotment option;Active Customers ended at 192 at...