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Dec 31, 2022
Arteris Q4 2022 Earnings Report
Arteris reported a decrease in revenue but highlighted growth in annual contract value and design starts.
Key Takeaways
Arteris, Inc. announced its Q4 2022 financial results, reporting a decrease in revenue compared to the same period last year, but highlighted a strong finish to the year with growth in Annual Contract Value and design starts. The company also provided estimated guidance for Q1 and full year 2023.
Annual Contract Value plus Trailing Twelve Month Royalties increased by 22% year-over-year, adjusted for the loss of HiSilicon and DJI.
Revenue decreased by 2% year-over-year to $11.2 million.
Operating loss was $9.1 million.
24 confirmed design starts in Q4 across various markets.
Forward Guidance
Arteris provided estimated guidance for the first quarter and full year 2023.
Positive Outlook
- Q1 2023 ACV + TTM royalties are expected to be between $51.5 million and $55.5 million.
- FY 2023 ACV + TTM royalties are expected to be between $60.4 million and $65.4 million.
- Q1 2023 Revenue is expected to be between $11.0 million and $13.0 million.
- FY 2023 Revenue is expected to be between $56.0 million and $60.0 million.
- The company believes it is well-positioned for growth due to customer innovation in automotive, consumer electronics, and machine learning.
Challenges Ahead
- Q1 2023 Non-GAAP operating loss (%) is expected to be between 55.0% and 75.0%.
- FY 2023 Non-GAAP operating loss (%) is expected to be between 28.5% and 43.5%.
- Q1 2023 Free cash flow (%) is expected to be between (81.7)% and (56.7)%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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