Company: AIP
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001667011-25-000010
Chunk: 117

Company: Arteris, Inc.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 7
Chunk 117
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 more likely than not that the deferred tax assets will be realized.

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Results of Operations

The following table summarizes our GAAP results of operations for the periods presented. The results below are not necessarily indicative of results to be expected for future periods.

Year ended December 31,20242023(in thousands)Total revenue$57,724 $53,666 Cost of revenue (1)5,962 5,077 Gross profit51,762 48,589 Operating expenses:Research and development (1)45,007 45,128 Sales and marketing (1)20,796 20,659 General and administrative (1)17,555 17,944 Total operating expenses83,358 83,731 Loss from operations(31,596)(35,142)Interest expense(244)(211)Other income (expense), net3,400 3,558 Loss before income taxes and loss from equity method investment(28,440)(31,795)Loss from equity method investment, net of tax2,698 3,397 Provision for income taxes2,500 1,677 Net loss$(33,638)$(36,869)

(1)Includes stock-based compensation expense as follows:

Year Ended December 31,20242023(in thousands)Cost of revenue$783 $556 Research and development7,509 7,324 Sales and marketing 3,079 2,712 General and administrative4,567 3,943 Total stock-based compensation$15,938 $14,535 

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The following table summarizes our results of operations as a percentage of total revenue for each of the periods indicated:

 Year Ended December 31,  20242023 (as a percentage of total revenue)Total revenue100 %100 %Cost of revenue10 9 Gross profit90 91 Operating expenses:Research and development78 84 Sales and marketing36 38 General and administrative30 33 Total operating expenses144 155 Loss from operations(54)(64)Interest expense— — Other income (expense), net6 7 Loss before income taxes and loss from equity method investment(48)(57)Loss from equity method investment, net of tax5 6 Provision for income taxes4 3 Net loss(57)%(66)%

Comparison of the Years Ended December 31, 2024