$AIP

Arteris, Inc.

CIK:0001667011|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue
Total revenue	$ 24,134	$ 16,502	$ 47,070	$ 33,034
Cost of revenue	3,607	1,742	6,857	3,268
Gross profit	20,527	14,760	40,213	29,766
Operating expenses:
Research and development	16,762	12,171	31,219	24,033
Sales and marketing	9,386	6,335	17,916	12,864
General and administrative	6,072	4,502	11,487	8,825
Acquisition-related costs	2,215	0	2,799	0
Total operating expenses	34,435	23,008	63,421	45,722
Loss from operations	(13,908)	(8,248)	(23,208)	(15,956)
Interest expense	(30)	(42)	(68)	(90)
Other income (expense), net	570	786	1,240	1,504
Loss before income taxes and loss from equity method investment	(13,368)	(7,504)	(22,036)	(14,542)
Loss from equity method investment, net of tax	0	780	2,989	1,595
Loss before income taxes	(13,368)	(8,284)	(25,025)	(16,137)
Provision for (benefit from) income taxes	697	846	(3,001)	1,114
Net loss	$ (14,065)	$ (9,130)	$ (22,024)	$ (17,251)
Net loss per share attributable to common stockholders, basic (in dollars per share)	$ (0.30)	$ (0.22)	$ (0.47)	$ (0.42)
Net loss per share attributable to common stockholders, diluted (in dollars per share)	$ (0.30)	$ (0.22)	$ (0.47)	$ (0.42)
Weighted-average shares used in computing per share amounts, basic (in shares)	47,276,533	41,819,427	46,415,392	41,338,907
Weighted-average shares used in computing per share amounts, diluted (in shares)	47,276,533	41,819,427	46,415,392	41,338,907
Licensing, support and maintenance
Revenue
Total revenue	$ 20,824	$ 15,088	$ 40,096	$ 30,423
Variable royalties
Revenue
Total revenue	2,103	1,402	4,606	2,569
Professional services and other
Revenue
Total revenue	$ 1,207	$ 12	$ 2,368	$ 42

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (22,024)	$ (17,251)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	2,861	1,689
Stock-based compensation	11,858	8,809
Amortization of deferred income	(585)	(585)
Loss from equity method investment	2,989	1,595
Deferred income taxes (Note 7)	(4,103)	0
Net accretion of discounts on available-for-sale securities	(69)	(221)
Change in fair value of contingent consideration liability	2,058	0
Other, net	(55)	378
Changes in operating assets and liabilities:
Accounts receivable, net	5,376	1,855
Prepaid expenses and other assets	(2,504)	(2,261)
Accounts payable	(794)	319
Accrued expenses and other liabilities	(2,916)	(277)
Deferred revenue	10,056	6,325
Net cash provided by operating activities	2,148	375
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(890)	(538)
Purchases of available-for-sale securities	(16,329)	(17,160)
Proceeds from maturities of available-for-sale securities	11,978	18,282
Payments for business combination, net of cash acquired	(11,179)	0
Net cash (used in) provided by investing activities	(16,420)	584
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments under vendor financing arrangements	(681)	(558)
Proceeds from exercise of stock options	1,037	1,452
Proceeds from employee stock purchase plan	644	535
Proceeds from issuance of common stock under the at-the-market offering, net of commissions and offering costs	72,546	0
Other financing activities	93	27
Net cash provided by financing activities	73,639	1,456
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	59,367	2,415
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period	34,250	14,072
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period	93,617	16,487
Cash, cash equivalents and restricted cash at end of period:
Cash and cash equivalents	93,270	16,100
Restricted cash, current	97	97
Restricted cash, noncurrent	250	290
Cash, cash equivalents and restricted cash at end of period	93,617	16,487
Noncash activities:
Equity consideration issued for Cycuity, Inc. (Cycuity) acquisition	19,016	0
Fair value of contingent consideration liability related to Cycuity acquisition	11,076	0
Purchase of property and equipment through vendor financing	2,558	1,099
Operating lease right-of-use assets, exchanged for lease obligations	1,631	1,118
Accrued offering costs	$ 513	$ 0

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 93,270	$ 33,901
Short-term investments (Note 5)	28,794	20,698
Accounts receivable, net of allowance of $73 as of both June 30, 2026 and December 31, 2025	15,222	19,183
Prepaid expenses and other current assets	9,055	8,608
Total current assets	146,341	82,390
Property and equipment, net	5,968	3,872
Long-term investments (Note 5)	1,198	4,946
Equity method investment	0	2,989
Operating lease right-of-use assets	4,918	3,919
Intangibles, net	18,767	2,168
Goodwill	35,299	4,178
Other assets	12,222	10,569
TOTAL ASSETS	224,713	115,031
Current liabilities:
Accounts payable	558	340
Accrued expenses and other current liabilities	30,442	19,094
Operating lease liabilities, current	1,466	1,233
Deferred revenue, current	59,577	51,367
Vendor financing arrangements, current	1,302	1,166
Total current liabilities	93,345	73,200
Deferred revenue, noncurrent	49,280	43,974
Operating lease liabilities, noncurrent	3,725	3,116
Vendor financing arrangements, noncurrent	2,193	452
Deferred income, noncurrent	5,867	6,452
Other liabilities	2,629	2,469
Total liabilities	157,039	129,663
Commitments and contingencies (Note 11)
Stockholders' equity (deficit):
Preferred stock, par value of $0.001 - 10,000,000 shares authorized and no shares issued and outstanding as of both June 30, 2026 and December 31, 2025	0	0
Common stock, par value of $0.001 - 300,000,000 shares authorized as of both June 30, 2026 and December 31, 2025; 49,051,892 and 44,268,816 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	49	44
Additional paid-in capital	261,174	156,776
Accumulated other comprehensive income	106	179
Accumulated deficit	(193,655)	(171,631)
Total stockholders' equity (deficit)	67,674	(14,632)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)	$ 224,713	$ 115,031