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Arteris Q1 Adjusted Loss Narrows, Revenue Rises; Shares Gain After Hours; CFO to Retire

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Arteris (AIP) reported a Q1 adjusted loss late Tuesday of $0.03 per diluted share, narrowing from the loss of $0.09 a year earlier.

Four analysts polled by FactSet expected a loss of $0.07.

Revenue in the three months ended March 31 rose to $22.9 million from $16.5 million a year earlier.

Four analysts surveyed by FactSet expected $21 million.

The company expects revenue of $23 million to $24 million in Q2 and $91 million to $95 million in the full year. Four analysts expect $22 million in Q2 and $91 million in the full year.

Arteris shares rose 7.9% in after-hours trading.

The company also said Chief Financial Officer Nicholas Hawkins plans to retire effective Aug. 31, and the board has started a search for a new CFO.

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