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Arteris, Inc. (NASDAQ:AIP), whose stock has surged 127% over the past year and is trading near its 52-week high of $12.39, recently disclosed that its Vice President and Chief Financial Officer, Nicholas B. Hawkins (NASDAQ:HWKN), executed a series of stock sales totaling $160,377. According to the SEC filing, Hawkins sold 1,682 shares at an average price of $11.41 per share and another 1,705 shares at the same price, amounting to $38,656. Additionally, he sold 11,000 shares at an average price of $11.07, generating $121,721. These transactions were made on January 2, 2025, with some executed under a 10b5-1 trading plan. Following these sales, Hawkins retains ownership of 169,868 shares in the company, representing a significant stake in this $492 million market cap company. For comprehensive insider trading analysis and 14 additional key insights about AIP, visit InvestingPro.
In other recent news, Arteris Inc. reported a solid financial performance in its third-quarter earnings call. The company announced an impressive annual contract value plus royalties of $60.5 million and a year-over-year revenue increase of 11% to $14.7 million. This strong performance was driven by robust demand in the AI and automotive sectors. Additionally, Arteris secured a significant deal with one of the top five global tech companies and has received positive feedback on its new NoC Tiling product.
The company's GAAP gross margin stood at 90%, with an improved operating loss of $7.9 million. However, non-GAAP metrics indicated a net loss of $3.1 million for the quarter. Looking ahead, Arteris expects strong bookings for Q3 and Q4, with Q4 typically being the peak quarter.
According to company projections, Q4 2024 ACV plus royalties are forecasted to be between $63 million and $67 million. Full-year revenue projections for 2024 are anticipated to be between $56.9 million and $57.9 million. Despite a non-GAAP net loss of $3.1 million for the quarter, Arteris anticipates continued positive free cash flow for three consecutive quarters. These recent developments highlight Arteris's resilience and growth potential in the competitive tech landscape.
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