THE MEDICI LIST

by Mike Gee

Medici List crest
Disclaimer: This is a simplified summary of a public company filing. See full disclaimer here.

Arteris, Inc.

CIK: 16670111 Annual ReportLatest: 2026-02-12

10-K / February 12, 2026

Arteris IP

Overview

Arteris IP supplies semiconductor System IP focused on interconnects and other IP used to move data inside SoCs and chiplets across single-die and multi-die architectures. Its core offering pairs Network-on-Chip (NoC) interconnect IP with SoC Integration Automation software to automate assembly, configuration, and software/hardware integration of IP blocks into complex systems. Products and services are provided under license, maintenance, and royalty models with ongoing support and training. The company maintains a technology-agnostic, standards-based approach and partners with IP vendors and EDA providers.

Products and platforms

  • NoC IP products
    • Non-coherent NoC IP: FlexGen, FlexNoC, FlexWay
    • Cache-coherent NoC IP: Ncore
    • NoC interface IP: CodaCache
    • Value: converts on-chip IP communications into configurable packets to improve performance, reduce wire length, and lower power
  • SoC Integration Automation software
    • Hardware and software integration automation: Magillem Registers and CSRCompiler (HSI for the software/hardware interface)
    • SoC assembly software: Magillem Connectivity
    • Focus: design exploration, automated test benches, IP-XACT-based assembly, and metadata/documentation linkage
  • Hardware security verification software
    • Cycuity Radix-S: IP/sub-system security analysis
    • Cycuity Radix-M: system-level security verification on production firmware/software
    • Cycuity Radix-ST: static security analyzer for RTL

Market ecosystem and collaboration

Arteris IP participates in an ecosystem that includes Arm, SiFive, MIPS, Synopsys, Cadence, Semidynamics, Andes, Codasip, and other RISC-V IP vendors. It collaborates with EDA tool providers (Synopsys, Cadence, Siemens) to provide prepackaged interfaces and interoperability while maintaining neutrality and openness across the semiconductor industry.

Markets and customers

  • End markets: aerospace and defense; automotive; communications (wired/wireless); consumer electronics; enterprise computing; industrial
  • Market trends: growing NoC adoption driven by chiplet/multi-die architectures, AI/ML workloads, and safety/security requirements (ISO 26262, IEC)
  • Customer relationships: long-term engagements with a broad base; in 2025 one customer represented more than 10% of revenue

Key metrics and financials (reported)

  • Revenue
    • 2025: $70.6 million
    • 2024: $57.7 million
  • Net income (loss)
    • 2025: net loss of $34.7 million
    • 2024: net loss of $33.6 million
  • Cash flow from operations
    • 2025: $6.7 million provided by operating activities
    • 2024: $0.7 million used in operating activities
  • ACV and royalties
    • Annual Contract Value (ACV) as of 12/31/2025: $77.0 million
    • ACV plus royalties as of 12/31/2025: $83.6 million
  • Production footprint
    • More than four billion production SoCs have incorporated Arteris IP since inception

Employees and operations

  • Total employees: 299 as of 12/31/2025
    • R&D: 170; Sales & Marketing: 81; Administration: 48
    • Geographic distribution: United States 96; France 150; China 21; Poland 12; South Korea 8; Japan 6; Elsewhere 6
  • Engineering headcount: 112 IP development engineers and 58 SoC Integration Automation software engineers (total 170)
  • R&D spend: $49.9 million in 2025 (about 71% of 2025 revenue)
  • Headquarters: Campbell, California; primary offices in Campbell and Austin (US); additional offices in France, Poland, China, Japan, Taiwan, and South Korea

Ownership and corporate status

  • Largest individual holder: K. Charles Janac (President, CEO, Chairman) with approximately 21.6% of outstanding voting stock as of 12/31/2025
  • Incorporated in Delaware (2004)
  • Public listing: Nasdaq symbol AIP
  • Acquisition history: Magillem (2020), Semifore (2022), Cycuity (2026)
  • Other strategic investments: Transchip (referenced as part of ongoing strategy)

Product and technology advantages

  • NoC technology acts as the data movement backbone within complex SoCs, supporting performance and modular design across many IP blocks (CPUs, GPUs, NPUs, memories)
  • Emphasis on area efficiency, low power (including multi-domain/power management features), and improved design accuracy through AI-assisted automation (e.g., FlexGen)
  • SoC Integration Automation software standardizes and accelerates IP assembly using IEEE 1685 IP-XACT and SystemRDL, enabling traceability from architecture to documentation
  • Hardware security verification tools identify design weaknesses and support ISO 26262 and cybersecurity objectives

Growth strategy

  • Build on leadership in System IP to address increasingly complex SoCs and chiplet/multi-die designs
  • Expand addressable markets (aerospace/defense, automotive, communications, consumer electronics, enterprise computing, industrial; AI/ML workloads)
  • Grow the customer base through System IP innovation and expanded sales and marketing efforts
  • Pursue selective acquisitions and strategic partnerships to broaden capabilities in NoC interface IP, security solutions, and SoC integration tooling
  • Expand NoC interface IP opportunities (clocking, interrupt, power management, security, and debug networks) to deliver end-to-end SoC solutions

Intellectual property

  • Patents and applications worldwide as of 12/31/2025: 261 total
    • Issued patents: 115 (US 88; China 10; Korea 6; UK 4; Europe 4; Japan 3)
    • Pending applications: 146 (US 62; Europe 28; China 24; Korea 13; Japan 13; WIPO 6)
    • Issued patents generally expire July 2035 to June 2043
  • Trade secrets and copyright protections complement patent rights
  • Licensing relationships and risks include a Qualcomm asset purchase and related license for FlexNoC, with a perpetual license for Licensed Rights and retained rights for continued manufacturing and distribution under defined terms
  • The company depends on third-party IP licenses and faces potential open-source considerations

Operational and regulatory context

  • Customers outside the United States accounted for a majority of revenue (60.3% in 2025; 62.3% in 2024)
  • Geographic revenue mix in 2025: Americas 41.5%; Asia Pacific 47.6%; Europe/Middle East 10.9%
  • Key regulatory exposure includes export controls, data privacy/security laws (GDPR/CPRA, CCPA, PIPL in China), and anti-corruption regimes; the company reports ongoing compliance efforts and related risks

Dividend and governance notes

  • No dividends expected in the foreseeable future
  • Delaware corporate governance provisions (including a classified board and exclusive forum provisions) are part of the company’s governance structure
  • Emerging growth company status provides certain reporting exemptions

Summary

Arteris IP is a specialized semiconductor System IP company focused on NoC interconnects and end-to-end SoC integration tooling, supported by software and hardware verification products. It targets complex, multi-die and chiplet-based SoCs across strategic markets, expands capabilities through acquisitions and partnerships, and reported 2025 revenue of $70.6 million with a net loss of $34.7 million. As of 12/31/2025 it had 299 employees, ACV of $77.0 million (ACV plus royalties of $83.6 million), and invested heavily in R&D (about 71% of 2025 revenue).

View Full 10-K DocumentEDGAR