Figma Shares Indicated To Open $105/$110
In recent transactions, Janac K. Charles, President and CEO of Arteris, Inc. (NASDAQ:AIP), a $375 million market cap company, sold shares of the company's common stock valued at $269,044. The sales occurred over two days, with prices ranging from $10.0067 to $10.0744 per share, notably above current trading levels following a nearly 8% decline over the past week.
On December 17, Janac sold 14,180 shares at a weighted average price of $10.0067. The following day, December 18, he sold an additional 12,621 shares at a weighted average price of $10.0744. These transactions were made under a 10b5-1 trading plan adopted earlier this year.
Following these sales, Janac holds 10,195,125 shares indirectly through Bayview Legacy, LLC, and has additional direct and trust holdings.
In other recent news, Arteris Inc. reported strong third quarter financial performance during its earnings call. The company highlighted a record annual contract value plus royalties of $60.5 million, an 11% year-over-year revenue increase to $14.7 million, and a positive free cash flow of $1.1 million. The GAAP gross margin stood at 90%, with an improved operating loss of $3.9 million. Non-GAAP metrics indicated a net loss of $3.1 million for the quarter.
Arteris also announced a significant deal with one of the top five global tech companies and positive feedback on its new NoC Tiling product. The company's bookings for the third and fourth quarters are expected to be strong, with the fourth quarter typically being the peak.
Looking ahead, Arteris forecasts Q4 2024 ACV plus royalties between $63 million to $67 million and full-year revenue projections for 2024 between $56.9 million and $57.9 million. The company anticipates continued positive free cash flow for three consecutive quarters. These recent developments underscore Arteris' resilience and growth potential in the AI and automotive sectors.
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