Thu, Aug 1, 9:11 PM (88 days ago)
Arteris, Inc. reported a net loss of $8.3 million for Q2 2024, a slight improvement from the $9.2 million loss in Q2 2023. Revenue remained relatively flat at $14.6 million, driven by a 4% increase in licensing, support, and maintenance revenue, offset by a 43% decline in variable royalties. Operating expenses decreased by 7% to $20.6 million due to lower research and development costs and reduced sales and marketing expenses. The company experienced a 19% increase in cost of revenue, primarily due to higher employee-related expenses. Cash and cash equivalents rose to $22.1 million from $13.7 million at the end of 2023, bolstered by positive cash flows from investing activities. Arteris continues to face significant competitive pressures and relies heavily on a small number of key customers, making its revenue susceptible to fluctuations. The company remains focused on expanding its sales force and investing in research and development to drive future growth.