Following this sale, Charles retains direct ownership of 260,088 shares. Additionally, he holds indirect ownership through entities such as Bayview Legacy, LLC, and the Charles and Lydia Janac Trust, with holdings of 9,957,691 and 63,252 shares, respectively. The recent transaction was part of a series of planned sales, with prices ranging from $12.17 to $12.60 per share. According to InvestingPro, Arteris maintains impressive gross profit margins of 89% and holds more cash than debt on its balance sheet. For deeper insights into AIP's financial health and 10+ additional ProTips, subscribers can access the comprehensive Pro Research Report. According to InvestingPro, Arteris maintains impressive gross profit margins of 89% and holds more cash than debt on its balance sheet. For deeper insights into AIP's financial health and 10+ additional ProTips, subscribers can access the comprehensive Pro Research Report.
Following this sale, Charles retains direct ownership of 260,088 shares. Additionally, he holds indirect ownership through entities such as Bayview Legacy, LLC, and the Charles and Lydia Janac Trust, with holdings of 9,957,691 and 63,252 shares, respectively. The recent transaction was part of a series of planned sales, with prices ranging from $12.17 to $12.60 per share.
In other recent news, Arteris Inc. has reported noteworthy developments in its third-quarter earnings call of 2024. The company delivered strong financial performance, boasting a record annual contract value plus royalties of $60.5 million. The firm also reported an 11% year-over-year revenue increase, amounting to $14.7 million, and a positive free cash flow of $1.1 million for the quarter ending in September 2024.
Arteris Inc. has also highlighted a GAAP gross margin of 90% and an improved operating loss of $7.9 million. However, non-GAAP metrics indicated a net loss of $3.1 million for the quarter. Despite this, the company secured a significant deal with one of the top five global tech companies and is expanding into the microcontroller market.
These recent developments reflect the robust demand in the AI and automotive sectors that Arteris Inc. specializes in. The company remains optimistic about its future, anticipating strong bookings and new product innovations. Furthermore, Arteris Inc. expects its ACV plus royalties for Q4 2024 to range between $63 million and $67 million, with full-year revenue projections for 2024 between $56.9 million and $57.9 million.
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