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Jun 30, 2024
Arteris Q2 2024 Earnings Report
Reported a revenue increase and positive free cash flow for the second consecutive quarter.
Key Takeaways
Arteris reported Q2 2024 financial results with a revenue of $14.6 million, up 13% sequentially. The company achieved a record $60.1 million in Annual Contract Value and Trailing-Twelve-Month Variable Royalties and reported its second consecutive quarter of positive free cash flow.
Revenue reached $14.6 million, a 13% sequential increase.
Annual Contract Value and trailing-twelve-months variable royalties reached $60.1 million, up 3% year-over-year.
Remaining performance obligation (RPO) reached $77.5 million, up 19% year-over-year.
Non-GAAP free cash flow was positive $0.3 million, representing 1.8% of revenue.
Revenue by Segment
Forward Guidance
Arteris provided guidance for Q3 2024 and full year 2024.
Positive Outlook
- Q3 2024 ACV + TTM royalties are expected to be between $58.5 million and $62.5 million.
- Full year 2024 ACV + TTM royalties are expected to be between $62.0 million and $68.0 million.
- Q3 2024 revenue is projected to be between $14.2 million and $15.2 million.
- Full year 2024 revenue is projected to be between $56.0 million and $58.0 million.
- Q3 2024 Free cash flow is expected to be between $(1.4) million and $1.6 million.
Challenges Ahead
- Q3 2024 Non-GAAP operating loss is expected to be between $3.5 million and $5.5 million.
- Full year 2024 Non-GAAP operating loss is expected to be between $18.0 million and $22.0 million.
- Full year 2024 Free cash flow is expected to be between $(2.4) million and $(2.6) million.
- Guidance are forward-looking statements and reflects Arteris' expectations as of today's date.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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