Company: AIP
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001667011-25-000022
Chunk: 250

Company: Arteris, Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 8
Chunk 250
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 The fair value is based on quoted prices for identical assets in active markets and therefore classified as Level 1 of the fair value hierarchy. The Company’s other investments are considered Level 2 financial instruments as their fair values are determined using inputs that are directly or indirectly observable in active or less active markets. There were no transfers between levels during the periods presented.

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7.    INTANGIBLE ASSETS AND GOODWILL

Intangible assets, netIntangible assets, net consisted of the following as of March 31, 2025 (in thousands):Gross Fair ValueAccumulated AmortizationNet Book ValueDeveloped technology$3,590 $(1,995)$1,595 Customer relationships1,830 (801)1,029 Trade name and other200 (21)179 Total intangibles$5,620 $(2,817)$2,803 Intangible assets, net consisted of the following as of December 31, 2024 (in thousands):Gross Fair ValueAccumulated AmortizationNet Book ValueDeveloped technology$3,590 $(1,835)$1,755 Customer relationships1,830 (744)1,086 Trade name and other200 (17)183 Total intangibles$5,620 $(2,596)$3,024 Amortization expense of intangible assets was $0.2 million for both the three months ended March 31, 2025 and 2024.The expected future amortization expense of these intangible assets as of March 31, 2025 is as follows (in thousands):Fiscal year ending December 31,AmountRemainder of 2025$635 2026544 2027527 2028516 2029340 Thereafter91 Total future amortization expense$2,653 GoodwillAs of both March 31, 2025 and December 31, 2024, goodwill was $4.2 million. No goodwill impairments were recorded during the three months ended March 31, 2025 and 2024.

8.    LEASES

The Company leases its offices and data center housing space at various locations under non-cancelable operating lease agreements expiring at various dates through 2034. Under the terms of these agreements, the Company also bears the costs for certain insurance, property tax, and maintenance. The terms of certain lease agreements provide for increasing rental payments at fixed