XCF Global enters $7.5 million convertible note agreement with EEME Energy
Paul L. Alpern, Vice President and General Counsel of Arteris, Inc. (NASDAQ:AIP), a $492 million market cap company trading near its 52-week high of $12.39, recently sold shares of the company's stock, according to a filing with the Securities and Exchange Commission. According to InvestingPro analysis, the stock appears overvalued after surging 127% over the past year. On January 2, Alpern sold a total of 2,471 shares of common stock at an average price of $11.4133 per share, amounting to approximately $28,202. Following these transactions, Alpern holds 64,930 shares directly. The sales were made to satisfy tax liabilities arising from the release of restricted stock units. The company maintains impressive gross profit margins of 89%, and InvestingPro subscribers can access 13 additional key insights about Arteris's financial health and valuation metrics.
In other recent news, Arteris Inc. has reported a strong Q3 performance in its latest earnings call. The company's annual contract value (ACV) plus royalties reached a record $60.5 million, with an 11% year-over-year revenue increase to $14.7 million. Positive free cash flow for the quarter was also reported at $1.1 million. These recent developments were driven by robust demand in the AI and automotive sectors.
Arteris also secured a significant deal with one of the top five global tech companies and is expanding into the microcontroller market. Despite a non-GAAP net loss of $3.1 million for the quarter, the company remains optimistic about its future, with strong bookings and new product innovations on the horizon.
In terms of future expectations, analysts have forecasted Q4 2024 ACV plus royalties at $63 million to $67 million and full-year revenue projections for 2024 between $56.9 million and $57.9 million.
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