Press release
Arteris Announces Financial Results for the Fourth Quarter and Full Year 2022 and Estimated First Quarter and Full Year 2023 Guidance
CAMPBELL, Calif., Feb. 28, 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., Feb. 28, 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 fourth quarter and year ended December 31, 2022, and provided estimated first quarter and full year 2023 guidance. “We’re excited to report a strong finish to 2022, with Annual Contract Value plus Trailing Twelve Month Royalties of $52.4 million, an increase of 22% year-over-year when adjusted for the loss of HiSilicon and DJI, which can be attributed to tighter BIS restrictions after 2019,” said K. Charles Janac, President and CEO of Arteris IP. “With the introduction of our new FlexNoC 5 innovation and the acquisition of Semifore in the fourth quarter, we are working to enable our customers to accelerate their SoC design and improve the overall SoC design economics while shortening product schedules and the risks of costly redesigns. Despite short-term macro-economic uncertainties, we believe Arteris is well positioned for growth as our customers continue to innovate in areas such as automotive, consumer electronics, and machine learning across all applications, driving the need for increased use of commercial System IP.” Fourth Quarter 2022 Financial Highlights: Annual Contract Value (ACV) and trailing twelve months (TTM) royalties of $52.4 million, compared to $50.0 million for the same period last yearRevenue of $11.2 million, down 2% year-over-yearRemaining performance obligation (RPO) of $57.7 million, down 5% year-over-yearOperating loss of $9.1 millionNon-GAAP operating loss of $5.8 million, compared to a Non-GAAP operating loss of $2.8 million in the year-ago periodNet loss of $7.2 million or $0.21 per shareNon-GAAP net loss of $4.0 million or $0.12 per shareNon-GAAP free cash flow of $(0.8) million or (7)% of revenue Full year 2022 Financial Highlights: Revenue of $50.4 million, up 33% year-over-yearOperating loss of $28.9 millionNon-GAAP operating loss of $16.2 million, compared to a Non-GAAP operating loss of $15.5 million for the year-ended 2021Net loss of $27.4 million or $0.84 per shareNon-GAAP net loss of $14.7 million or $0.45 per shareNon-GAAP free cash flow of $(7.8) million or (16)% of rev...