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Mar 31, 2023
Arteris Q1 2023 Earnings Report
Reported a solid start to the year with revenue up 12% year-over-year and secured four new OEM design wins.
Key Takeaways
Arteris announced its Q1 2023 financial results, with revenue of $13.2 million, up 12% year-over-year. The company also reported Annual Contract Value plus Trailing-Twelve-Month Royalties of $54.8 million, up 20% year-over-year when adjusted to exclude HiSilicon and DJI.
Annual Contract Value (ACV) and Trailing-twelve-month (TTM) royalties of $54.8 million, up 4% year-over-year.
Revenue of $13.2 million, up 12% year-over-year.
Remaining performance obligation (RPO) of $57.3 million.
Added six Active Customers in the first quarter across key verticals.
Forward Guidance
Arteris provided estimated second quarter and full year 2023 guidance.
Positive Outlook
- Q2 2023 ACV + TTM royalties are expected to be between $53.5 million and $57.5 million.
- Full Year 2023 ACV + TTM royalties are expected to be between $60.4 million and $65.4 million.
- Q2 2023 Revenue is expected to be between $13.0 million and $14.0 million.
- Full Year 2023 Revenue is expected to be between $56.0 million and $60.0 million.
- The guidance reflects the company's expectations as of May 4, 2023.
Challenges Ahead
- Q2 2023 Non-GAAP operating loss is expected to be between 37.0% and 57.0%.
- Full Year 2023 Non-GAAP operating loss is expected to be between 28.5% and 43.5%.
- Q2 2023 Free cash flow is expected to be between (51.8)% and (26.8)%.
- Full Year 2023 Free cash flow is expected to be between (19.7)% and (9.7)%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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