Arteris, Inc. Files Q3 2024 10-Q

TL;DR

Arteris Q3 10-Q is in. Revenue streams detailed, balance sheet updated. Check it out.

AI Summary

Arteris, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported revenue from License and Maintenance, and Variable Royalties and Other. Specific financial figures for these revenue streams and balance sheet items like common stock and retained earnings are detailed within the filing.

Why It Matters

This filing provides investors with a quarterly update on Arteris, Inc.'s financial performance and position, crucial for understanding the company's trajectory in the semiconductor industry.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the semiconductor industry is inherently volatile and subject to rapid technological changes and market fluctuations.

Key Numbers

• 2024 Q3 — Reporting Period (Indicates the specific quarter covered by the filing.)
• 2024-09-30 — As of Date (The date as of which the financial statements are prepared.)
• 2023-12-31 — Previous Year End (Provides a comparative point for financial analysis.)

Key Players & Entities

• Arteris, Inc. (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of the reporting period
• 2024-11-05 (date) — Filing date
• 900 E. HAMILTON AVE, SUITE 300 (address) — Company's business and mailing address
• CAMPBELL, CA 95008 (address) — Company's business and mailing address

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common stock, $0.001 par value AIP The Nasdaq Stock Market L

Filing Documents

• aip-20240930.htm (10-Q) — 1399KB
• exhibit311q3fy2410-q.htm (EX-31.1) — 11KB
• exhibit312q3fy2410-q.htm (EX-31.2) — 11KB
• exhibit321q3fy2410-q.htm (EX-32.1) — 7KB
• exhibit322q3fy2410-q.htm (EX-32.2) — 7KB
• 0001667011-24-000036.txt ( ) — 6141KB
• aip-20240930.xsd (EX-101.SCH) — 36KB
• aip-20240930_cal.xml (EX-101.CAL) — 73KB
• aip-20240930_def.xml (EX-101.DEF) — 142KB
• aip-20240930_lab.xml (EX-101.LAB) — 511KB
• aip-20240930_pre.xml (EX-101.PRE) — 344KB
• aip-20240930_htm.xml (XML) — 778KB

Financial Information

Part I. Financial Information 3 Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited) 3 Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Loss for the Three and Nine Months Ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended September 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 8 Notes to Unaudited Condensed Consolidated Financial Statements 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 33 Item 4.

Controls and Procedures

Controls and Procedures 34

Other Information

Part II. Other Information 35 Item 1.

Legal Proceedings

Legal Proceedings 35 Item 1A.

Risk Factors

Risk Factors 35 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 72 Item 3. Defaults Upon Senior Securities 72 Item 4. Mine Safety Disclosures 72 Item 5. Other Information 72 Item 6. Exhibits 73

Signatures

Signatures 74 2 Table of Contents

- Financial Information

Part I - Financial Information

Financial Statements

Item 1. Financial Statements Arteris, Inc. Condensed Consolidated Balance Sheets (In thousands, except share and per share data) (Unaudited) As of September 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 17,829 $ 13,696 Short-term investments (Note 5) 30,840 27,477 Accounts receivable, net of allowance of $ 93 as of both September 30, 2024 and December 31, 2023 8,715 12,003 Prepaid expenses and other current assets 5,396 5,254 Total current assets 62,780 58,430 Property and equipment, net 4,058 5,745 Long-term investments (Note 5) 5,839 11,802 Equity method investment 6,436 8,500 Operating lease right-of-use assets 4,070 4,289 Intangibles, net 3,245 3,858 Goodwill 4,178 4,178 Other assets 7,109 5,999 TOTAL ASSETS $ 97,715 $ 102,801 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 141 $ 183 Accrued expenses and other current liabilities 12,966 11,831 Operating lease liabilities, current 948 781 Deferred revenue, current 38,991 31,537 Vendor financing arrangements, current 1,172 2,070 Total current liabilities 54,218 46,402 Deferred revenue, noncurrent 26,511 25,172 Operating lease liabilities, noncurrent 3,332 3,610 Vendor financing arrangements, noncurrent 669 1,292 Deferred income, noncurrent 7,928 8,810 Other liabilities 2,848 2,412 Total liabilities 95,506 87,698 Commitments and contingencies (Note 10) Stockholders' equity: Preferred stock, par value of $ 0.001 - 10,000,000 shares authorized as of both September 30, 2024 and December 31, 2023; no shares issued and outstanding as of both September 30, 2024 and December 31, 2023 — — Common stock, par value of $ 0.001 - 300,000,000 shares authorized as of both September 30, 2024 and December 31, 2023; 40,127,476 and 37,518,583 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 40 37 Additional paid-in capital 130,678 118,193 Accumulated other comprehensive income 172 120