Press release
Arteris Announces Financial Results for the Third Quarter 2022 and Estimated Fourth Quarter and Full Year 2022 Guidance
CAMPBELL, Calif., Nov. 08, 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., Nov. 08, 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 third quarter ended September 30, 2022 as well as estimated fourth quarter and full year 2022 guidance. “We’re excited by our results for the third quarter, including both Annual Contract Value plus Trailing-Twelve-Month Royalties of $53.2 million, up 17% year-over-year and the achievement of a major company milestone with over three billion systems shipped with SoCs connected by Arteris System IP,\" said K. Charles Janac, President and CEO of Arteris IP. “While there are macro-economic uncertainties, including the latest US Commerce Department regulations with respect to China, we believe that Arteris is well positioned as our customers are continuing to innovate in areas such as automotive, machine learning and 5G, driving the need for increased use of commercial System IP.” Third Quarter 2022 Financial Highlights: Annual Contract Value (ACV) and Trailing-twelve-month (TTM) royalties of $53.2 million, up 17% year-over-yearRevenue of $12.6 million, up 41% year-over-yearRemaining performance obligation (RPO) of $59.3 million, up 17% year-over-yearOperating loss of $7.8 million or 61% of revenueNon-GAAP operating loss of $4.2 million or 34% of revenue, compared to a Non-GAAP operating loss of $4.0 million in the year-ago periodNet loss of $7.7 million or $0.23 per shareNon-GAAP net loss of $4.2 million or $0.13 per shareNon-GAAP free cash flow of $(5.7) million or (45)% of revenue Third Quarter 2022 Business Highlights: Added 10 Active Customers in the third quarter across some of our core market verticals, including a deal with a major international electric vehicle manufacturer, and a deal with a space-oriented customer;We announced an expanded partnership with Arm to help speed up automotive electronics innovation, leveraging Arm processors and Arteris System IP to enable a variety of high-performance automotive semiconductors;21 confirmed design starts in the third quarter, including in automotive, consumer, and mobile infrastructure;We announced our collaboration with SiMa.ai, which integrates the Arteris ...