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Janac K. Charles, President and CEO of Arteris , Inc. (NASDAQ:AIP), a company with impressive gross profit margins of 89%, recently sold 50,000 shares of the company’s common stock. The transaction, executed on February 3, 2025, was part of a 10b5-1 trading plan adopted by Charles in February 2024. The shares were sold at a weighted average price of $10.3295, amounting to a total transaction value of approximately $516,475. The stock, which has gained over 34% in the past six months despite a recent 12% weekly decline, currently trades at $9.62. InvestingPro subscribers can access comprehensive insider trading analysis and 11 additional key insights about Arteris. Following this sale, Charles holds 9,907,691 shares indirectly through Bayview Legacy, LLC, and retains direct ownership of 260,088 shares. Additionally, Charles holds 63,252 shares indirectly through the Charles and Lydia Janac Trust. These holdings represent a significant portion of Arteris’s $381 million market capitalization, demonstrating continued insider confidence in the company despite its current unprofitable status.
In other recent news, Arteris Inc. has reported a strong third quarter, with a focus on AI and automotive SoC. The company recorded an annual contract value (ACV) plus royalties of $60.5 million, marking a significant achievement. The revenue for the company also saw an increase of 11% year-over-year, reaching $14.7 million. This financial performance was further bolstered by a positive free cash flow of $1.1 million for the quarter.
Recent developments also include a significant deal secured with one of the top five global tech companies and positive feedback on Arteris’s new NoC Tiling product. Furthermore, bookings for the third and fourth quarters are expected to be strong, indicating a robust demand in the AI and automotive sectors.
Despite a non-GAAP net loss of $3.1 million for the quarter, analysts remain optimistic about the company’s future. Projections for the fourth quarter of 2024 forecast an ACV plus royalties between $63 million to $67 million. Full-year revenue projections for 2024 are estimated to be between $56.9 million and $57.9 million.
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