Arteris, Inc. (AIP) · Q2 2026 results and valuation

At 11.9% growth a year (3-year revenue growth), the model's fair value is $5.30 a share — the stock trades 284% above it. Today's price assumes 37.2% growth a year.

1. Guidance

   AIP expects just over half of its RPO at the end of the second quarter to be recognized as revenue starting July 1, 2026.

   Source quote

   “We expect just over half our RPO at the end of the second quarter will be recognized as revenue in the province starting July 1, 2026.”

2. Figure

   Over the past 4 quarters, enterprise computing has made up an average of 29% of Arteris' tariffs ACV plus royalties…

3. Last period

   The requirement for secure data movement is driving growing adoption of Arteris products as chips and chiplets become more complex and perform advanced computing.

   Source quote

   “Efficient, safe, secure data movement within those devices is essential which is driving the growing adoption of Arteris products and solutions. New chips and chiplets continue to get more complex and perform more advanced computing. Every semiconductor must move data to be a chip or chiplet.”

Script and answers carried a similar tone, so the script's message held up under questioning.

Sentences that drove the tone

“With momentum and increasing customer engagement leading us to believe that we will see continued strength in the second half of the year.”

“Building on our strong revenue growth, coupled with carefully focused expense discipline that is delivering operating leverage, we continue to believe that Arteris is on a path to profitability.”

“Our customers continue to innovate in exciting high growth areas.”