Press release
Arteris Announces Financial Results for the Third Quarter 2021 and Estimated Fourth Quarter and Full Year 2021 Guidance
CAMPBELL, Calif., Nov. 30, 2021 (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., Nov. 30, 2021 (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 third quarter ended September 30, 2021 as well as estimated fourth quarter and full year 2021 guidance. “We continued our strong momentum in the third quarter with revenue increasing 39% year-over year. Demand for our products within the machine learning and automotive sectors remains strong as semiconductor manufacturers accelerate their designs for autonomous driving applications,” said K. Charles Janac, president and CEO of Arteris IP. “Demand for Arteris solutions continues to strengthen as increasing complexity of SoC creation, combined with tighter time-to-market requirements creates the need for best-in-class solutions. We remain excited about the significant opportunity ahead and believe Arteris is well positioned to drive increasing customer value in the years to come.” Third Quarter 2021 Financial Highlights: Annual Contract Value (ACV) and Trailing-twelve-month (TTM) royalties of $45.6 million, up 21% year-over-yearRevenue of $9.0 million, up 39% year-over-yearRemaining performance obligation (RPO) of $50.6 million, up 48% year-over-yearOperating loss of $4.5 million or 50% of revenueNon-GAAP operating loss of $4.0 million or 44% of revenueNet loss of $5.0 million or $0.24 per shareNon-GAAP net loss of $4.4 million or $0.21 per shareNon-GAAP free cash flow of $(4.5) million or (50)% of revenue Third Quarter 2021 Business Highlights: Announced pricing of our initial public offering for gross proceeds of $80.5 million, including the exercise of the underwriters’ overallotment optionEnded the quarter with 179 active customers, increasing 72% year-over-year22 designs starts in the third quarter, increasing 69% year over year, across all major verticalsLaunched the Arteris® Harmony Trace™ Design Data Intelligence Solution to ease compliance with semiconductor industry functional safety and quality standardsFlexNoC® Interconnect licensed by Eyenix for AI-enabled imaging / digital camera SoCAnnounced 4D LiDAR pioneer Aeva as our 200th customerFlexNoC® Interconnect licensed for use in SK Telecom SAPEON AI c...