Arteris, Inc. (NASDAQ:AIP) Q1 2023 Earnings Conference Call May 4, 2023 4:30 PM ET

Company Participants

Erica Mannion - Sapphire Investor Relations

Charlie Janac - Chief Executive Officer

Nick Hawkins - Chief Financial Officer

Conference Call Participants

Gus Richard - Northland

Ethan Potasnick - Cowen

Kevin Garrigan - Westpark Capital

Operator

Good afternoon, everyone. And welcome to the Arteris First Quarter 2023 Earnings Call. Please note this call is being recorded and simultaneously webcast. All material contained in the webcast is sole property and copyright of Arteris Incorporated with all rights reserved.

For opening remarks and introductions, I will now turn the call over to Erica Mannion of Sapphire Investor Relations. Please go ahead.

Erica Mannion

Thank you and good afternoon. With me today from Arteris are Charlie Janac, Chief Executive Officer; and Nick Hawkins, Chief Financial Officer.

Charlie will begin with a brief review of the business results for the first quarter ended March 31, 2023. Nick will review the financial results for the first quarter, followed by the company’s outlook for the second quarter and full year of 2023. We will then open the call for questions.

Before we begin, I’d like to remind you that management will make statements during this call that are forward-looking statements within the meaning of federal securities laws. These statements involve material risks and uncertainties that could cause actual results or events to differ materially from those anticipated and you should not place undue reliance on forward-looking statements.

Additional information regarding these risks, uncertainties and factors that could cause actual results to differ appear in the press release Arteris issued today and in the documents and reports filed by Arteris from time-to-time with the Securities and Exchange Commission.

Please note, during this call, we will see certain non-GAAP measures, including non-GAAP net loss, non-GAAP net loss per share and free cash flow, which are not measures prepared in accordance with U.S. GAAP.

These non-GAAP measures are presented as we believe they provide investors with the means of evaluating and understanding how the company’s management evaluates the company’s operating performance.

These non-GAAP measures should not be considered in isolation from, as substitutes for or superior to financial measures prepared in accordance with U.S. GAAP. A reconciliation of these non-GAAP measures to the nearest GAAP measure can be found in the press release for the quarter ended March 31, 2023.

In addition, for a definition of certain of the key performance indicators used in this presentation, such as annual contract value, confirmed design starts, active customers and remaining performance obligations, please see the press release for the quarter ended March 31, 2023. Listeners who do not have a copy of the press release for the quarter ended March 31, 2023, may obtain a copy by visiting the Investor Relations section of the company’s website.