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Mar 31, 2024
Arteris Q1 2024 Earnings Report
Announced financial results for the first quarter ended March 31, 2024 and provided second quarter and full year 2024 guidance.
Key Takeaways
Arteris reported a solid start to 2024 with positive free cash flow in the first quarter, driven by robust licensing activity across all verticals including Enterprise Computing and Automotive deals. The company secured five major deals with top 30 global technology firms.
Revenue of $12.9 million.
Annual Contract Value (ACV) and trailing-twelve-months (TTM) variable royalties of $58.2 million, up 6% year-over-year.
Remaining performance obligation (RPO) of $74.7 million, up 30% year-over-year, growing to the highest level the company has ever reported.
Non-GAAP free cash flow of positive $0.3 million or 2.2% of revenue.
Revenue by Segment
Forward Guidance
Arteris provided second quarter and full year 2024 guidance.
Positive Outlook
- Q2 2024 ACV + TTM royalties: $58.0 - $62.0 million
- FY 2024 ACV + TTM royalties: $62.0 - $68.0 million
- Q2 2024 Revenue: $13.2 - $14.2 million
- FY 2024 Revenue: $54.5 - $57.5 million
- FY 2024 Free cash flow: $(2.4) - $(2.6) million
Challenges Ahead
- Q2 2024 Free cash flow: $(1.4) - $1.6 million
- Q2 2024 Non-GAAP operating loss: $4.5 - $6.5 million
- FY 2024 Non-GAAP operating loss: $19.4 - $23.4 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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