AIP
Arteris, Inc.

Arteris, Inc.AIP

Technology · Semiconductors
17.80USD
+11.74%
Nov 08, 2026
AIP overview ready
Licensor of network-on-chip and system IP for complex SoC and chiplet designs
Arteris is a semiconductor design-IP enabler that licenses network-on-chip, coherency, cache, integration, and related system IP used by chip designers building complex SoCs and chiplet-capable architectures.
Primary theme is lagging
EDA & Semiconductor IP is lagging (-12.5pp vs SPY over 21 sessions; 0 of 5 members ahead of SPY).
Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of failed reclaim.
The tactical setup reads failed reclaim, but the weekly structure is broken.
Demanding valuation
The price embeds expectations that run ahead of the cash the business currently produces.
Low free cash flow yield
Free cash flow yield is weak.
Primary risk
Dependence on semiconductor industry capital spending cycles.
Market Nov 6Filing Sep 30Price action Nov 7Research Jul 17

Conviction Level

PriceAction1.4BusinessPerformance5.0BusinessQuality—Valuation3.1ThemeMomentum1.0Mixed — Revenue growth has accelerated across 4 consecutive quarters, rising from +30% to +48% year over year. The company is still loss-making: the diluted loss per share widened to -$0.23 from -$0.21 a year earlier. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
vs SPY
−12.5pp
Theme return
−17.4%
Beating SPY
0 of 5
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of failed reclaim.
The tactical setup reads failed reclaim, but the weekly structure is broken.
EntryDamaged / breakdown

The technical structure itself is broken across timeframes — the weakest entry profile.

Key Financials

Market Cap
$885.3M
Avg Volume (60D)
667.1K
60 sessions
Revenue Growth YoY
+22.3%
FY2025 vs FY2024
Gross Margin
+86.9%
Trailing twelve months
Operating Margin
-46.2%
Trailing twelve months
Free Cash Flow Yield
+0.2%
Distance from 200DMA
-29.0%
P/E
N/M
Market metrics as of Nov 6, 2026
Financial results for the period ended Sep 30, 2026
Filed balance-sheet data as of Sep 30, 2026

Business Performance

Mixed

Revenue growth has accelerated across 4 consecutive quarters, rising from +30% to +48% year over year. The company is still loss-making: the diluted loss per share widened to -$0.23 from -$0.21 a year earlier.

Latest reported: Q3 FY2026, ended Sep 30
Revenue growthAccelerating
+48%
$25.8M in Q3 FY2026 · YoY
YoY growth, last 4 quarters
  1. +30%
  2. +39%
  3. +46%
  4. +48%
Earnings growthLoss widening
-$0.23
Diluted EPS -$0.23 vs -$0.21 a year earlier · GAAP
Too few comparable EPS quarters: a loss or a turn to profit has no meaningful percentage.
Operating marginExpanding
-43.9%
+6.2 pp YoY · gross margin 86.6% (-3.3 pp)
The share count is rising

Business Quality

Not assessed

Not assessed yet — the business is too early-stage for its economics to show in filings.

Fundamentals & Valuation

One of the two valuation perspectives says expensive; peers is the dissenting view.
Arteris, Inc. has an Expensive valuation stance because the price embeds expectations that run ahead of the cash the business currently produces. The business behind it shows an operating margin of -46%.

What changed

  • AIP rose 11.7% in one session
    AIP closed +11.7% while the broad market was close to flat (+0.3%).
    2026-11-06

Company Research

Thesis
Arteris is a semiconductor design-IP enabler that licenses network-on-chip, coherency, cache, integration, and related system IP used by chip designers building complex SoCs and chiplet-capable architectures.
Opportunity
High opportunity
Growing SoC integration, specialized compute blocks, cache-coherent architectures, and chiplet-oriented designs increase demand for reusable interconnect, coherency, and system-integration IP that reduces design complexity and time to tape-out.
Key risk
Dependence on semiconductor industry capital spending cycles.

Economic classification

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Business & Markets

Technology · Semiconductors
What they do

Arteris, Inc. licenses semiconductor system intellectual property (IP) that manages on-chip communications and IP block integration for System-on-Chip (SoC) and chiplet designs, enabling chip designers to reduce complexity and accelerate development.

How it earns

The company generates revenue primarily through licensing its IP products to semiconductor designers.

Products & services
FlexGen Network-on-Chip IP
FlexNoC Network-on-Chip IP
FlexWay non-coherent NoC IP
Ncore cache-coherent NoC IP
CodaCache last-level cache IP
Hardware security verification software
Customers & end markets
Semiconductor chip designers
SoC developers
Chiplet architecture developers
Market position

Niche provider specializing in network-on-chip and system IP for complex SoC and chiplet architectures.

Demand drivers
Medium cyclicality

Semiconductor design activity is influenced by broader semiconductor industry cycles and capital spending trends.