Record Annual Contract Value and Positive Free Cash Flow
Arteris achieved a record annual contract value plus royalties of $66.8 million and generated $2.7 million in non-GAAP positive free cash flow driven by demand for semiconductor system IP products.
Significant Design Wins and New Customers
Arteris secured several key design wins, including four from top 30 global technology companies and expanded orders from a top five technology company. They also added three new customers, including a Japanese automotive OEM.
Recognition for Innovation
Arteris received awards in three categories at the 23rd Annual American Business Awards, including Gold Awards for Most Innovative Tech Company and Technical Innovation of the Year.
Strong Financial Performance
The company reported a total revenue of $16.5 million, up 28% year-over-year, and a non-GAAP gross margin of 92%.
Growing Pipeline and Product Success
Arteris has over 20 customer SoC projects evaluating FlexGen, expected to generate revenue and ACV in the second half of the year.