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Dec 31, 2023
Arteris Q4 2023 Earnings Report
Arteris reported a 12% increase in revenue year-over-year, reaching $12.5 million, and highlighted design activity and customer growth.
Key Takeaways
Arteris announced strong Q4 2023 results with a 12% increase in revenue year-over-year, driven by growth in design activity and customer acquisition. The company's annual contract value and trailing-twelve-month variable royalties reached $56.1 million, exceeding guidance. However, the company reported an operating loss of $9.2 million and a net loss of $10.5 million, or $0.29 per share.
Revenue increased by 12% year-over-year, reaching $12.5 million.
Annual Contract Value (ACV) and trailing twelve months (TTM) variable royalties increased by 7% year-over-year to $56.1 million.
Remaining performance obligation (RPO) increased by 26% year-over-year to $72.7 million.
The company saw the highest level of quarterly design activity with 29 confirmed design starts.
Revenue by Segment
Forward Guidance
Arteris provided Q1 2024 revenue guidance of $12.1 million to $13.1 million and FY 2024 revenue guidance of $54.5 million to $57.5 million.
Positive Outlook
- Q1 2024 ACV + TTM royalties guidance: $55.0 - $59.0 million
- FY 2024 ACV + TTM royalties guidance: $62.0 - $68.0 million
- Q1 2024 Revenue guidance: $12.1 - $13.1 million
- FY 2024 Revenue guidance: $54.5 - $57.5 million
- Q1 2024 Non-GAAP operating loss (%): 40.8% - 60.8%
Challenges Ahead
- Q1 2024 Free cash flow (%): (9.2)% - 10.8%
- FY 2024 Non-GAAP operating loss (%): 33.2% - 43.2%
- FY 2024 Free cash flow (%): (4.8)% - 5.2%
- Non-GAAP operating loss is expected
- Free cash flow is expected to be negative
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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