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Mar 31, 2022
Arteris Q1 2022 Earnings Report
Reported a strong start to 2022, with revenue up 77% year-over-year.
Key Takeaways
Arteris announced financial results for the first quarter ended March 31, 2022. Revenue was $11.8 million, up 77% year-over-year. Annual Contract Value plus Trailing Twelve Month Royalties was $52.8 million, up 26% year-over-year.
Annual Contract Value (ACV) and Trailing-twelve-month (TTM) royalties of $52.8 million, up 26% year-over-year
Revenue of $11.8 million, up 77% year-over-year
Remaining performance obligation (RPO) of $60.5 million, up 28% year-over-year
Added seven Active Customers during the first quarter, of which four are customers enabling AI/ML for IoT, data center and automotive applications
Forward Guidance
Arteris estimates second quarter and full year 2022 guidance.
Positive Outlook
- Q2 2022 ACV + TTM royalties: $49.5 - $51.5 million
- FY 2022 ACV + TTM royalties: $51.6 - $55.6 million
- Q2 2022 Revenue: $11.5 - $14.5 million
- FY 2022 Revenue: $48.0 - $52.0 million
Challenges Ahead
- Q2 2022 Non-GAAP operating loss (%): 19.4% - 34.4%
- FY 2022 Non-GAAP operating loss (%): 24.9% - 39.9%
- Q2 2022 Free cash flow (%): (44.4)% - (29.4)%
- FY 2022 Free cash flow (%): (25.5)% - (10.5)%
Historical Earnings Impact
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Avg. Return Before/After Earnings
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