Microvast Holdings announces departure of chief financial officer
Following these sales, Cantwell retains direct ownership of 228,198 shares. Additionally, he holds 38,761 shares indirectly through the Decathlon Capital Management 401K Plan. The transactions were conducted under a 10b5-1 trading plan, which Cantwell adopted on June 7, 2024. For deeper insights into insider trading patterns and 14+ additional key metrics, check out the comprehensive Arteris InvestingPro Research Report, available for subscribers. For deeper insights into insider trading patterns and 14+ additional key metrics, check out the comprehensive Arteris InvestingPro Research Report, available for subscribers.
Following these sales, Cantwell retains direct ownership of 228,198 shares. Additionally, he holds 38,761 shares indirectly through the Decathlon Capital Management 401K Plan. The transactions were conducted under a 10b5-1 trading plan, which Cantwell adopted on June 7, 2024.
In other recent news, Arteris Inc. reported a strong third quarter in their recent earnings call, showcasing a focus on AI and automotive SoC. The firm announced 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. Despite a GAAP gross margin of 90%, the company reported an operating loss of $7.9 million and a non-GAAP net loss of $3.1 million for the quarter.
Arteris also secured a significant deal with one of the top five global tech companies and is expanding into the microcontroller market. The company's new NoC Tiling product has received positive feedback. Arteris' fourth-quarter and full-year projections are optimistic, with ACV plus royalties forecasted at $63 million to $67 million and revenue projections between $56.9 million and $57.9 million.
These recent developments indicate a strong performance from Arteris, driven by robust demand in the AI and automotive sectors. The company remains optimistic about its future, with strong bookings and new product innovations on the horizon.
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