Arteris (AIP)
Market Price (7/3/2026): $35.41 | Market Cap: $1.6 BilSector: Information Technology | Industry: Semiconductors
Arteris (AIP)
Market Price (7/3/2026): $35.41Market Cap: $1.6 BilSector: Information TechnologyIndustry: Semiconductors
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include Artificial Intelligence, and Electric Vehicles & Autonomous Driving. Themes include AI Chips, Edge AI, Show more. | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -34 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -44% Expensive valuation multiplesP/SPrice/Sales ratio is 26x Stock price has recently run up significantly6M Rtn6 month market price return is 183%, 12M Rtn12 month market price return is 386% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 25% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -4.1%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -6.1% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 170% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -6.0% Key risksAIP key risks include [1] its high revenue concentration and dependence on the product launch success of a few key customers, Show more. |
| Megatrend and thematic driversMegatrends include Artificial Intelligence, and Electric Vehicles & Autonomous Driving. Themes include AI Chips, Edge AI, Show more. |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -34 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -44% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 26x |
| Stock price has recently run up significantly6M Rtn6 month market price return is 183%, 12M Rtn12 month market price return is 386% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 25% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -4.1%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -6.1% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 170% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -6.0% |
| Key risksAIP key risks include [1] its high revenue concentration and dependence on the product launch success of a few key customers, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Arteris (AIP) stock has gained about 115% since 3/31/2026 because of the following key factors:
1. Exceptional Fiscal Q1 2026 Results and Strong Guidance. Arteris significantly surpassed analyst expectations for fiscal Q1 2026, reporting an Earnings Per Share (EPS) of -$0.03 against consensus estimates ranging from -$0.09 to -$0.0707 per share. Revenue for the quarter reached $22.9 million, marking a 39% year-over-year increase and exceeding analyst estimates of $21.03 million. This robust performance was complemented by optimistic forward-looking statements, including strong guidance for fiscal Q2 2026 revenue, projected between $23.0 million and $24.0 million, and an updated full-year 2026 revenue guidance of $91.0 million to $95.0 million, alongside an expectation for positive free cash flow. These strong financial indicators and positive outlook were core drivers of the stock's appreciation.
2. Accelerated Demand in High-Growth AI and Automotive Markets. The company experienced accelerated demand for its Network-on-Chip (NoC) interconnect IP technology within the rapidly expanding artificial intelligence (AI) and automotive markets. Arteris's technology saw increased adoption in AI-enabled chips and chiplet architectures across data centers and edge devices, as well as in the automotive sector. This growth was underscored by significant business wins during the period, including a licensing deal with SiEngine Technology for next-generation automotive System-on-Chips (SoCs) in June 2026 and the adoption of Arteris technology by Li Auto for its proprietary autonomous driving SoCs in May 2026.
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Arteris (AIP) stock has gained about 115% since 3/31/2026 because of the following key factors:
1. Exceptional Fiscal Q1 2026 Results and Strong Guidance. Arteris significantly surpassed analyst expectations for fiscal Q1 2026, reporting an Earnings Per Share (EPS) of -$0.03 against consensus estimates ranging from -$0.09 to -$0.0707 per share. Revenue for the quarter reached $22.9 million, marking a 39% year-over-year increase and exceeding analyst estimates of $21.03 million. This robust performance was complemented by optimistic forward-looking statements, including strong guidance for fiscal Q2 2026 revenue, projected between $23.0 million and $24.0 million, and an updated full-year 2026 revenue guidance of $91.0 million to $95.0 million, alongside an expectation for positive free cash flow. These strong financial indicators and positive outlook were core drivers of the stock's appreciation.
2. Accelerated Demand in High-Growth AI and Automotive Markets. The company experienced accelerated demand for its Network-on-Chip (NoC) interconnect IP technology within the rapidly expanding artificial intelligence (AI) and automotive markets. Arteris's technology saw increased adoption in AI-enabled chips and chiplet architectures across data centers and edge devices, as well as in the automotive sector. This growth was underscored by significant business wins during the period, including a licensing deal with SiEngine Technology for next-generation automotive System-on-Chips (SoCs) in June 2026 and the adoption of Arteris technology by Li Auto for its proprietary autonomous driving SoCs in May 2026.
3. Positive Analyst Sentiment and Upgraded Price Targets. A contributing factor to Arteris's stock movement was the increasingly positive sentiment from financial analysts and subsequent upgrades to their price targets. Analysts raised their average price target for Arteris from approximately $20 to a range of $35 to $40, citing strong Q1 2026 earnings, increased data center, and AI-related licensing activity. Several Wall Street analysts issued "Buy" or "Strong Buy" ratings for AIP during this period, which further bolstered investor confidence and contributed to the stock's upward trend.
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Stock Movement Drivers
Fundamental Drivers
The 113.3% change in AIP stock from 3/31/2026 to 7/2/2026 was primarily driven by a 103.7% change in the company's P/S Multiple.| (LTM values as of) | 3312026 | 7022026 | Change |
|---|---|---|---|
| Stock Price ($) | 16.44 | 35.06 | 113.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 71 | 77 | 9.1% |
| P/S Multiple | 10.2 | 20.7 | 103.7% |
| Shares Outstanding (Mil) | 44 | 46 | -4.0% |
| Cumulative Contribution | 113.3% |
Market Drivers
3/31/2026 to 7/2/2026| Return | Correlation | |
|---|---|---|
| AIP | 113.3% | |
| Market (SPY) | 14.5% | 58.7% |
| Sector (XLK) | 35.9% | 71.9% |
Fundamental Drivers
The 126.2% change in AIP stock from 12/31/2025 to 7/2/2026 was primarily driven by a 106.4% change in the company's P/S Multiple.| (LTM values as of) | 12312025 | 7022026 | Change |
|---|---|---|---|
| Stock Price ($) | 15.50 | 35.06 | 126.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 66 | 77 | 16.8% |
| P/S Multiple | 10.0 | 20.7 | 106.4% |
| Shares Outstanding (Mil) | 43 | 46 | -6.2% |
| Cumulative Contribution | 126.2% |
Market Drivers
12/31/2025 to 7/2/2026| Return | Correlation | |
|---|---|---|
| AIP | 126.2% | |
| Market (SPY) | 9.5% | 64.4% |
| Sector (XLK) | 25.6% | 73.5% |
Fundamental Drivers
The 267.9% change in AIP stock from 6/30/2025 to 7/2/2026 was primarily driven by a 226.6% change in the company's P/S Multiple.| (LTM values as of) | 6302025 | 7022026 | Change |
|---|---|---|---|
| Stock Price ($) | 9.53 | 35.06 | 267.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 61 | 77 | 25.6% |
| P/S Multiple | 6.4 | 20.7 | 226.6% |
| Shares Outstanding (Mil) | 41 | 46 | -10.3% |
| Cumulative Contribution | 267.9% |
Market Drivers
6/30/2025 to 7/2/2026| Return | Correlation | |
|---|---|---|
| AIP | 267.9% | |
| Market (SPY) | 21.6% | 45.4% |
| Sector (XLK) | 43.2% | 52.8% |
Fundamental Drivers
The 414.1% change in AIP stock from 6/30/2023 to 7/2/2026 was primarily driven by a 355.2% change in the company's P/S Multiple.| (LTM values as of) | 6302023 | 7022026 | Change |
|---|---|---|---|
| Stock Price ($) | 6.82 | 35.06 | 414.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 52 | 77 | 48.7% |
| P/S Multiple | 4.6 | 20.7 | 355.2% |
| Shares Outstanding (Mil) | 35 | 46 | -24.0% |
| Cumulative Contribution | 414.1% |
Market Drivers
6/30/2023 to 7/2/2026| Return | Correlation | |
|---|---|---|
| AIP | 414.1% | |
| Market (SPY) | 74.0% | 47.7% |
| Sector (XLK) | 111.6% | 51.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| AIP Return | 16% | -80% | 37% | 73% | 52% | 183% | 141% |
| Peers Return | 22% | -6% | 16% | -5% | 6% | 32% | 78% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 99% |
Monthly Win Rates [3] | |||||||
| AIP Win Rate | 67% | 17% | 50% | 67% | 67% | 57% | |
| Peers Win Rate | 52% | 40% | 52% | 44% | 50% | 50% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 43% | |
Max Drawdowns [4] | |||||||
| AIP Max Drawdown | - | -84% | -45% | -29% | -54% | -22% | |
| Peers Max Drawdown | -27% | -39% | -38% | -35% | -42% | -22% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: QCOM, FSLR, SLAB, POWI, CBRS.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/2/2026 (YTD)
How Low Can It Go
| Event | AIP | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -44.0% | -18.8% |
| % Gain to Breakeven | 78.7% | 23.1% |
| Time to Breakeven | 112 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -13.5% | -7.8% |
| % Gain to Breakeven | 15.5% | 8.5% |
| Time to Breakeven | 13 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -39.1% | -9.5% |
| % Gain to Breakeven | 64.1% | 10.5% |
| Time to Breakeven | 96 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -37.6% | -6.7% |
| % Gain to Breakeven | 60.3% | 7.1% |
| Time to Breakeven | 35 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -75.7% | -24.5% |
| % Gain to Breakeven | 312.4% | 32.4% |
| Time to Breakeven | 1273 days | 427 days |
In The Past
Arteris's stock fell -44.0% during the 2025 US Tariff Shock. Such a loss loss requires a 78.7% gain to breakeven.
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| Event | AIP | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -44.0% | -18.8% |
| % Gain to Breakeven | 78.7% | 23.1% |
| Time to Breakeven | 112 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -39.1% | -9.5% |
| % Gain to Breakeven | 64.1% | 10.5% |
| Time to Breakeven | 96 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -37.6% | -6.7% |
| % Gain to Breakeven | 60.3% | 7.1% |
| Time to Breakeven | 35 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -75.7% | -24.5% |
| % Gain to Breakeven | 312.4% | 32.4% |
| Time to Breakeven | 1273 days | 427 days |
In The Past
Arteris's stock fell -44.0% during the 2025 US Tariff Shock. Such a loss loss requires a 78.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Arteris (AIP)
Arteris, Inc. (AIP) specializes in providing crucial intellectual property (IP) and software solutions for semiconductor design, particularly for complex System-on-Chip (SoC) architectures. The company develops and licenses "on-chip interconnect fabric" technology, which acts as the internal communication backbone, or Network-on-Chip (NoC), within these advanced integrated circuits. Essentially, Arteris helps chip designers create efficient and reliable communication pathways between various functional blocks within a single chip.
Arteris's core product offerings include a suite of silicon-proven interconnect IP products such as FlexNoC, which provides a flexible interconnect fabric, and Ncore, a cache-coherent interconnect IP designed for scalability. They also offer specialized IP like CodaCache for last-level cache memory and FlexNoC Resilience Package for on-chip data protection. Beyond IP, Arteris provides essential IP deployment software solutions, including tools like the Physical interconnect aware NoC optimizer, which helps predict physical layout effects, and FlexNoC Physical, which bridges architectural design with physical implementation.
The company serves a broad and high-growth customer base across various technology sectors. Its interconnect IP and solutions are critical for companies in the automotive industry, artificial intelligence (AI)/machine learning, 5G and wireless communications, data centers, and consumer electronics markets. Arteris operates globally, with customers spanning the Americas, Asia Pacific, Europe, and the Middle East, reflecting the widespread need for sophisticated on-chip communication solutions in modern electronics.
AI Analysis | Feedback
- Arteris is like ARM Holdings (whose designs power most smartphones and tablets) but for the crucial internal communication systems and data highways *within* complex semiconductor chips.
- Think of Arteris as providing the internal "traffic control system" or "data network" *inside* advanced computer chips, much like Cisco Systems builds and manages networks for computers and servers to communicate *with each other*.
AI Analysis | Feedback
- FlexNoC: A silicon-proven interconnect IP product used for System-on-Chip (SoC) designs.
- FlexNoC Resilience Package: An on-chip data protection package that complements FlexNoC interconnect IP.
- Ncore: A silicon-proven and cache coherent interconnect IP product offering scalable, configurable, and area-efficient characteristics.
- CodaCache: A last-level cache semiconductor IP product.
- Physical interconnect aware NoC optimizer: A software tool that estimates physical layout effects during the architecture and logic development stages of an SoC interconnect design.
- FlexWay: An IP product designed for IP subsystem interconnect.
- FlexPSI: An IP product for establishing all-digital inter-chip links.
- FlexNoC Physical: A product that facilitates linking physical placement and routing tools.
- IP deployment software solutions: A suite of software solutions including specification, design, documentation, AI package, design data intelligence, and harmony trace.
AI Analysis | Feedback
Arteris (AIP) sells primarily to other companies. The provided background information does not explicitly list the names of its major customer companies. However, it does specify the markets in which its customers operate, indicating that its customers are companies involved in the following sectors:
- Automotive: Companies manufacturing vehicles or developing automotive electronics and systems.
- AI/Machine Learning: Companies creating hardware or software solutions for artificial intelligence and machine learning applications.
- 5G and Wireless Communications: Companies involved in developing and deploying 5G and other wireless communication technologies and devices.
- Data Centers: Companies providing infrastructure, hardware, or services for data centers.
- Consumer Electronics: Companies designing and manufacturing various consumer electronic devices.
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Arteris, Inc. (AIP) faces several key risks to its business, primarily stemming from its financial performance, its business model's reliance on customer success, and geopolitical factors.
Key Risks to Arteris (AIP)
- Challenges in Achieving and Sustaining Profitability: Arteris has consistently reported operating and net losses despite increasing revenues, driven by substantial investments in research and development to remain competitive. The company's financial health indicators, such as a negative operating margin and a low Altman Z-Score, highlight the challenge of transitioning to sustained profitability and managing its cash burn.
- Dependence on Customer Product Success and Royalty Revenue Lag: A significant portion of Arteris's potential revenue, particularly its highly profitable royalty streams, is directly tied to the success of its customers' products in the market and their subsequent volume sales. There is a considerable time delay between the initial licensing of its intellectual property (IP) and the realization of meaningful royalty income. Delays in customer product launches or their failure to achieve market adoption can significantly impact Arteris's revenue. Additionally, the company exhibits reliance on a limited number of key licensees.
- Geopolitical Risks and Exposure to the Chinese Market: Arteris operates globally, with a notable portion of its revenue originating from the Asia Pacific region, including China. This international exposure makes the company vulnerable to various geopolitical risks, such as military conflicts, changes in U.S. trade policies, tariffs, and export restrictions. Specifically, its significant reliance on the Chinese market, which constitutes a notable percentage of its revenues, makes it susceptible to trade disputes and regulatory changes that could adversely affect its revenue and market access.
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Arteris (AIP) operates within several significant addressable markets related to semiconductor intellectual property (IP) and System-on-Chip (SoC) design.
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Network-on-Chip (NoC) Interconnect IP: Arteris's core NoC interconnect IP products, such as FlexNoC, address the global Network-on-Chip market. This market was valued at approximately $3.73 billion globally in 2025 and is projected to grow to $7.89 billion by 2033, exhibiting a Compound Annual Growth Rate (CAGR) of 10.5% from 2025 to 2033. Another estimate places the global NoC market at $5 billion in 2025, with a projection to reach $15 billion by 2033 at a CAGR of 15%. A third source indicates the market was valued at USD 1.2 billion in 2023 and is projected to reach USD 4.5 billion by 2031, growing at a CAGR of 18%. Arteris is recognized as a key player in this market. The increasing complexity of System-on-Chip (SoC) designs drives the adoption of NoC interconnects.
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Semiconductor Interconnect Market (Broader Category): This market, which includes Arteris's interconnect solutions, was valued at approximately USD 12.3 billion globally in 2024 and is projected to reach USD 20.5 billion by 2030, growing at a CAGR of 8.5%. The Asia Pacific region holds the largest share, with North America also being a dominant player.
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Semiconductor IP Market (Overall): Arteris's offerings fall under the broader semiconductor IP market. This global market was valued at approximately USD 5.9 billion in 2024 and is poised to grow to USD 11.56 billion by 2033, at a CAGR of 8.6%. Other reports indicate the global semiconductor IP market size was valued at USD 6.25 billion in 2025 and is estimated to increase to USD 12.60 billion by 2034, with a CAGR of 8.10%. Another projection values the market at approximately USD 8.8 billion in 2024 and forecasts it to reach around USD 35.7 billion by 2034, with a CAGR of 15.1%. The Asia Pacific region dominated this market with a 52.63% share in 2025.
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System-on-Chip (SoC) Market: Arteris's IP products are crucial for the design and deployment of SoCs. The global System-on-Chip market was valued at USD 173.91 billion in 2026 and is expected to grow at a CAGR of 7.46% to reach USD 249.19 billion by 2031. Other analyses show the global SoC market size was valued at USD 228.06 billion in 2025 and is projected to reach nearly USD 391.61 billion by 2032, growing at a CAGR of 8.03%. The Asia Pacific SoC market held a 37.6% revenue share in 2024, while North America accounted for nearly 22% of the global revenue share in 2023.
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Chiplet Market: Arteris's technologies, particularly FlexNoC and NCore, are positioned to address the complexity of chiplet architectures. The chiplet market is expected to reach $157 billion by 2030.
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Arteris (AIP) is expected to drive future revenue growth over the next 2-3 years through several key factors:
- Accelerated adoption in AI-enabled systems and advanced computing: The increasing demand for high-performance computing in artificial intelligence (AI) applications, including data centers and edge computing, is a significant growth driver. Arteris's Network-on-Chip (NoC) interconnect technology is crucial for managing the complex data movement in these AI-driven chips and chiplets, leading to accelerating adoption and rising production volumes.
- Expansion into chiplet and multi-die architectures: The semiconductor industry's shift towards more complex, multi-die architectures and chiplet-based designs is creating a greater need for Arteris's interconnect solutions. Its technology is proven to address the associated interconnect challenges, leading to new design wins and volume deployments in this rapidly growing market segment.
- Strategic acquisition of Cycuity and expansion into semiconductor cybersecurity: The acquisition of Cycuity in January 2026 broadens Arteris's product portfolio to include semiconductor cybersecurity assurance technology. This addresses a critical and growing industry concern regarding silicon security vulnerabilities, enhancing Arteris's market reach and product value.
- Growth in variable royalty revenue and expanding customer base: Arteris anticipates continued growth in its variable royalty revenue stream, driven by increasing production volumes from its licensees across diverse markets such as automotive, enterprise computing, and consumer electronics. The company is also actively expanding its clientele and strengthening partnerships with major clients like AMD and NXP Semiconductors, translating into increased licensing activity and a broader customer base.
- Innovation and new product launches, particularly FlexGen and Armv9 solutions: Arteris continues to introduce innovative products and expand its solutions. The FlexGen AI-driven Smart NoC IP, which uses AI-driven heuristics to optimize chip design and reduce power consumption, has seen strong adoption. Additionally, expanded solutions tailored for the Armv9 architecture are accelerating the development of cutting-edge automotive technologies, supporting new possibilities in autonomous driving and advanced driver-assistance systems.
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Share Issuance
- Arteris completed its Initial Public Offering (IPO) on October 27, 2021, selling 5,000,000 shares at $14.00 per share, which generated gross proceeds of $70.0 million. The underwriters were also granted a 30-day option to purchase up to an additional 750,000 shares.
- As of December 31, 2025, Arteris filed a Registration Statement on Form S-3 to offer up to $200 million in securities and entered into an Open Market Sales Agreement for the sale of common stock totaling up to $75 million, aimed at ensuring liquidity and financial flexibility.
- The number of issued and outstanding common shares has progressively increased, from 34,625,875 as of December 31, 2022, to 40,724,936 as of December 31, 2024, and further to 44,268,816 by December 31, 2025.
Outbound Investments
- In January 2023, Arteris acquired Semifore, Inc., a provider of hardware/software interface (HSI) development tools.
- Arteris entered into a definitive agreement on December 11, 2025, to acquire Cycuity, Inc. for $45 million, with the aim of enhancing its semiconductor cybersecurity assurance product portfolio.
- The acquisition of Cycuity officially closed on January 14, 2026, integrating semiconductor cybersecurity assurance technology into Arteris' product offerings.
Capital Expenditures
- Capital expenditures for the twelve months ending December 31, 2023, were approximately $1.310 million, primarily allocated to purchases of property and equipment.
- For the twelve months ending December 31, 2024, capital expenditures were approximately $1.326 million, also mainly for purchases of property and equipment.
- The company projects capital expenditures of approximately $1 million for 2025, increasing to an estimated $2 million for 2026.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Arteris Earnings Notes | 12/16/2025 | |
| Arteris Stock On Fire: Up 56% With 14-Day Winning Streak | 12/12/2025 | |
| Arteris Stock 13-Day Winning Spree: Stock Climbs 55% | 12/11/2025 | |
| Arteris Stock 11-Day Winning Spree: Stock Climbs 44% | 12/09/2025 | |
| Arteris Stock 9-Day Winning Spree: Stock Climbs 32% | 12/05/2025 | |
| Arteris Stock Jump Looks Great, But How Secure Is That Gain? | 10/17/2025 |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 190.56 |
| Mkt Cap | 7.2 |
| Rev LTM | 821 |
| Op Inc LTM | 11 |
| FCF LTM | 85 |
| FCF 3Y Avg | 56 |
| CFO LTM | 105 |
| CFO 3Y Avg | 87 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 25.1% |
| Rev Chg 3Y Avg | 3.3% |
| Rev Chg Q | 20.1% |
| QoQ Delta Rev Chg LTM | 3.8% |
| Op Inc Chg LTM | -2.3% |
| Op Inc Chg 3Y Avg | -4.2% |
| Op Mgn LTM | 2.5% |
| Op Mgn 3Y Avg | 5.0% |
| QoQ Delta Op Mgn LTM | 1.2% |
| CFO/Rev LTM | 23.6% |
| CFO/Rev 3Y Avg | 20.0% |
| FCF/Rev LTM | 18.9% |
| FCF/Rev 3Y Avg | -0.1% |
Price Behavior
| Market Price | $35.06 | |
| Market Cap ($ Bil) | 1.6 | |
| First Trading Date | 10/27/2021 | |
| Distance from 52W High | -27.8% | |
| 50 Days | 200 Days | |
| DMA Price | $35.66 | $20.33 |
| DMA Trend | up | up |
| Distance from DMA | -1.7% | 72.5% |
| 3M | 1YR | |
| Volatility | 84.9% | 92.2% |
| Downside Capture | 480.45 | 310.11 |
| Upside Capture | 507.13 | 405.89 |
| Correlation (SPY) | 65.9% | 46.3% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 3.89 | 3.98 | 3.34 | 3.45 | 3.27 | 2.44 |
| Up Beta | 3.56 | 3.75 | 2.51 | 3.33 | 3.27 | 2.38 |
| Down Beta | 2.20 | 2.11 | 2.73 | 2.58 | 3.20 | 2.19 |
| Up Capture | 868% | 921% | 1028% | 1335% | 2004% | 11128% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 12 | 23 | 41 | 75 | 137 | 378 |
| Down Capture | 250% | 309% | 237% | 207% | 172% | 112% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 9 | 18 | 22 | 50 | 114 | 362 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AIP | |
|---|---|---|---|---|
| AIP | 282.6% | 92.2% | 1.86 | - |
| Sector ETF (XLK) | 44.7% | 24.0% | 1.48 | 52.8% |
| Equity (SPY) | 21.7% | 12.5% | 1.29 | 45.6% |
| Gold (GLD) | 23.1% | 27.7% | 0.73 | 15.3% |
| Commodities (DBC) | 21.3% | 18.6% | 0.90 | -0.2% |
| Real Estate (VNQ) | 13.6% | 13.8% | 0.68 | 12.4% |
| Bitcoin (BTCUSD) | -43.5% | 42.7% | -1.22 | 29.5% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AIP | |
|---|---|---|---|---|
| AIP | 13.5% | 81.1% | 0.52 | - |
| Sector ETF (XLK) | 20.9% | 25.4% | 0.73 | 46.8% |
| Equity (SPY) | 13.3% | 17.1% | 0.60 | 42.8% |
| Gold (GLD) | 17.9% | 18.3% | 0.79 | 9.1% |
| Commodities (DBC) | 6.9% | 19.5% | 0.25 | 6.0% |
| Real Estate (VNQ) | 3.1% | 18.9% | 0.06 | 26.2% |
| Bitcoin (BTCUSD) | 11.6% | 53.7% | 0.40 | 21.2% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AIP | |
|---|---|---|---|---|
| AIP | 6.5% | 81.1% | 0.52 | - |
| Sector ETF (XLK) | 24.9% | 24.8% | 0.91 | 46.8% |
| Equity (SPY) | 15.4% | 18.0% | 0.73 | 42.8% |
| Gold (GLD) | 12.1% | 16.1% | 0.61 | 9.1% |
| Commodities (DBC) | 5.7% | 18.0% | 0.25 | 6.0% |
| Real Estate (VNQ) | 5.5% | 20.7% | 0.23 | 26.2% |
| Bitcoin (BTCUSD) | 58.6% | 66.2% | 0.99 | 21.2% |
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Returns Analyses
Earnings Returns History
Updated 6/14/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/12/2026 | 9.6% | 6.0% | 15.0% |
| 2/12/2026 | -2.0% | -1.3% | 1.9% |
| 11/4/2025 | 26.1% | 25.9% | 42.5% |
| 8/5/2025 | -24.0% | -23.4% | -32.0% |
| 5/13/2025 | -10.1% | -11.7% | 1.4% |
| 2/18/2025 | -1.5% | -12.3% | -21.9% |
| 11/5/2024 | 18.7% | 16.2% | 23.9% |
| 8/1/2024 | -1.6% | -6.7% | 12.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 6 | 7 | 10 |
| # Negative | 11 | 10 | 7 |
| Median Positive | 18.1% | 11.5% | 14.0% |
| Median Negative | -3.4% | -6.0% | -21.9% |
| Max Positive | 38.4% | 42.0% | 75.9% |
| Max Negative | -24.0% | -23.4% | -36.8% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/12/2026 | 9.6% | 6.0% | 15.0% |
| 2/12/2026 | -2.0% | -1.3% | 1.9% |
| 11/4/2025 | 26.1% | 25.9% | 42.5% |
| 8/5/2025 | -24.0% | -23.4% | -32.0% |
| 5/13/2025 | -10.1% | -11.7% | 1.4% |
| 2/18/2025 | -1.5% | -12.3% | -21.9% |
| 11/5/2024 | 18.7% | 16.2% | 23.9% |
| 8/1/2024 | -1.6% | -6.7% | 12.9% |
| 5/2/2024 | 38.4% | 42.0% | 30.9% |
| 2/20/2024 | -0.4% | -4.5% | 0.3% |
| 5/4/2023 | 17.5% | 11.5% | 75.9% |
| 2/28/2023 | -16.9% | -22.2% | -36.8% |
| 11/8/2022 | -7.6% | 8.4% | -18.8% |
| 8/9/2022 | -0.9% | -4.5% | -16.1% |
| 5/10/2022 | -3.4% | -5.2% | -1.7% |
| 3/3/2022 | 4.0% | 2.8% | 1.1% |
| 11/30/2021 | -17.1% | -1.5% | -23.3% |
| SUMMARY STATS | |||
| # Positive | 6 | 7 | 10 |
| # Negative | 11 | 10 | 7 |
| Median Positive | 18.1% | 11.5% | 14.0% |
| Median Negative | -3.4% | -6.0% | -21.9% |
| Max Positive | 38.4% | 42.0% | 75.9% |
| Max Negative | -24.0% | -23.4% | -36.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/12/2026 | 10-Q |
| 12/31/2025 | 02/12/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/13/2025 | 10-Q |
| 12/31/2024 | 02/18/2025 | 10-K |
| 09/30/2024 | 11/05/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/20/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/12/2026 | 10-Q |
| 12/31/2025 | 02/12/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/13/2025 | 10-Q |
| 12/31/2024 | 02/18/2025 | 10-K |
| 09/30/2024 | 11/05/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/20/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 03/07/2022 | 10-K |
| 09/30/2021 | 12/01/2021 | 10-Q |
| 06/30/2021 | 10/28/2021 | 424B4 |
Recent Forward Guidance
Updated 5/31/2026Latest: Q1 2026 Earnings Reported 5/12/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 ACV + royalties | 95.00 Mil | 97.00 Mil | 99.00 Mil | 11.5% | Higher New | Guidance: 87.00 Mil for Q1 2026 | |
| Q2 2026 Revenue | 23.00 Mil | 23.50 Mil | 24.00 Mil | 11.9% | Higher New | Guidance: 21.00 Mil for Q1 2026 | |
| Q2 2026 Non-GAAP operating loss | 2.00 Mil | 2.50 Mil | 3.00 Mil | -16.7% | Lower New | Guidance: 3.00 Mil for Q1 2026 | |
| Q2 2026 Free cash flow | 2.00 Mil | 5.00 Mil | 8.00 Mil | Higher New | Guidance: 0 for Q1 2026 | ||
| 2026 ACV + royalties | 102.00 Mil | 104.00 Mil | 106.00 Mil | 2.0% | Raised | Guidance: 102.00 Mil for 2026 | |
| 2026 Revenue | 91.00 Mil | 93.00 Mil | 95.00 Mil | 2.2% | Raised | Guidance: 91.00 Mil for 2026 | |
| 2026 Non-GAAP operating loss | 4.50 Mil | 6.50 Mil | 8.50 Mil | -7.1% | Lowered | Guidance: 7.00 Mil for 2026 | |
| 2026 Free cash flow | 5.00 Mil | 7.00 Mil | 9.00 Mil | 0 | Affirmed | Guidance: 7.00 Mil for 2026 | |
Prior: Q4 2025 Earnings Reported 2/12/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 ACV + royalties | 85.00 Mil | 87.00 Mil | 89.00 Mil | 14.5% | Higher New | Guidance: 76.00 Mil for Q4 2025 | |
| Q1 2026 Revenue | 20.50 Mil | 21.00 Mil | 21.50 Mil | 12.9% | Higher New | Guidance: 18.60 Mil for Q4 2025 | |
| Q1 2026 Non-GAAP operating loss | 2.50 Mil | 3.00 Mil | 3.50 Mil | 7.1% | Higher New | Guidance: 2.80 Mil for Q4 2025 | |
| Q1 2026 Free cash flow | -1.50 Mil | 0 | 1.50 Mil | -100.0% | Lower New | Guidance: 1.70 Mil for Q4 2025 | |
| 2026 ACV + royalties | 100.00 Mil | 102.00 Mil | 104.00 Mil | 34.2% | Higher New | Guidance: 76.00 Mil for 2025 | |
| 2026 Revenue | 89.00 Mil | 91.00 Mil | 93.00 Mil | 31.9% | Higher New | Guidance: 69.00 Mil for 2025 | |
| 2026 Non-GAAP operating loss | 5.00 Mil | 7.00 Mil | 9.00 Mil | -46.2% | Lower New | Guidance: 13.00 Mil for 2025 | |
| 2026 Free cash flow | 5.00 Mil | 7.00 Mil | 9.00 Mil | 75.0% | Higher New | Guidance: 4.00 Mil for 2025 | |
Insider Activity
Updated 7/2/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Alpern, Paul L | VP and General Counsel | Direct | Sell | 7022026 | 45.46 | 6,500 | 295,514 | 3,654,552 | Form |
| 2 | Bayview, Legacy, Llc | See Footnote | Sell | 7022026 | 45.46 | 181,338 | 8,243,334 | 397,657,891 | Form | |
| 3 | Raza, Saiyed Atiq | Saiyed Atiq Raza and Nandini Saraiya 2012 Revocable Trust dtd 11/26/2012 | Sell | 7022026 | 45.39 | 70,000 | 3,176,980 | 3,176,980 | Form | |
| 4 | Janac, K Charles | President and CEO | Bayview Legacy | Sell | 7022026 | 45.46 | 181,338 | 8,243,334 | 397,657,891 | Form |
| 5 | Moll, Laurent R | Chief Operating Officer | Direct | Sell | 6172026 | 43.15 | 39,541 | 1,706,194 | 9,807,822 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Alpern, Paul L | VP and General Counsel | Direct | Sell | 7022026 | 45.46 | 6,500 | 295,514 | 3,654,552 | Form |
| 2 | Bayview, Legacy, Llc | See Footnote | Sell | 7022026 | 45.46 | 181,338 | 8,243,334 | 397,657,891 | Form | |
| 3 | Raza, Saiyed Atiq | Saiyed Atiq Raza and Nandini Saraiya 2012 Revocable Trust dtd 11/26/2012 | Sell | 7022026 | 45.39 | 70,000 | 3,176,980 | 3,176,980 | Form | |
| 4 | Janac, K Charles | President and CEO | Bayview Legacy | Sell | 7022026 | 45.46 | 181,338 | 8,243,334 | 397,657,891 | Form |
| 5 | Moll, Laurent R | Chief Operating Officer | Direct | Sell | 6172026 | 43.15 | 39,541 | 1,706,194 | 9,807,822 | Form |
| 6 | Bayview, Legacy, Llc | See Footnote | Sell | 6102026 | 34.91 | 70,000 | 2,443,433 | 311,679,755 | Form | |
| 7 | Janac, K Charles | President and CEO | Bayview Legacy, LLC | Sell | 6102026 | 34.91 | 70,000 | 2,443,433 | 311,679,755 | Form |
| 8 | Viana, Antonio J | Viana Family Trust | Sell | 6052026 | 36.51 | 20,839 | 760,880 | 2,359,425 | Form | |
| 9 | Raza, Saiyed Atiq | Saiyed Atiq Raza and Nandini Saraiya 2012 Revocable Trust dtd 11/26/2012 | Sell | 6042026 | 37.39 | 20,839 | 779,174 | 5,234,629 | Form | |
| 10 | Alpern, Paul L | VP and General Counsel | Direct | Sell | 6032026 | 36.02 | 12,502 | 450,286 | 2,895,199 | Form |
| 11 | Raza, Saiyed Atiq | Saiyed Atiq Raza and Nandini Saraiya 2012 Revocable Trust dtd 11/26/2012 | Sell | 6032026 | 36.02 | 70,000 | 2,521,103 | 5,042,206 | Form | |
| 12 | Hawkins, Nicholas B | VP and Chief Financial Officer | Direct | Sell | 5282026 | 37.75 | 3,000 | 113,254 | 4,097,877 | Form |
| 13 | Cantwell, Wayne C | The Cantwell Living Trust | Sell | 5272026 | 37.23 | 38,500 | 1,433,166 | 7,061,527 | Form | |
| 14 | Viana, Antonio J | Viana Family Trust | Sell | 5142026 | 38.00 | 20,000 | 760,000 | 2,455,560 | Form | |
| 15 | Viana, Antonio J | Viana Family Trust | Sell | 5142026 | 34.35 | 20,000 | 686,963 | 2,906,542 | Form | |
| 16 | Bayview, Legacy, Llc | See Footnote | Sell | 5122026 | 31.20 | 70,000 | 2,183,986 | 282,329,205 | Form | |
| 17 | Janac, K Charles | President and CEO | Bayview Legacy, LLC | Sell | 5122026 | 31.20 | 70,000 | 2,183,986 | 282,329,205 | Form |
| 18 | Viana, Antonio J | Viana Family Trust | Sell | 5072026 | 30.07 | 20,000 | 601,464 | 3,146,258 | Form | |
| 19 | Chitkara, Raman | Direct | Sell | 5072026 | 30.05 | 5,000 | 150,268 | 4,293,668 | Form | |
| 20 | Raza, Saiyed Atiq | Saiyed Atiq Raza and Nandini Saraiya 2012 Revocable Trust dtd 11/26/2012 | Sell | 5042026 | 28.71 | 90,000 | 2,584,170 | 6,029,730 | Form | |
| 21 | Viana, Antonio J | Viana Family Trust | Sell | 4282026 | 26.11 | 20,000 | 522,234 | 3,254,040 | Form | |
| 22 | Chitkara, Raman | Direct | Sell | 4282026 | 25.06 | 5,000 | 125,290 | 3,705,236 | Form | |
| 23 | Raza, Saiyed Atiq | Saiyed Atiq Raza and Nandini Saraiya 2012 Revocable Trust dtd 11/26/2012 | Sell | 4212026 | 22.16 | 17,060 | 378,084 | 6,648,600 | Form | |
| 24 | Viana, Antonio J | Viana Family Trust | Sell | 4212026 | 22.11 | 20,000 | 442,168 | 3,197,317 | Form | |
| 25 | Raza, Saiyed Atiq | Saiyed Atiq Raza and Nandini Saraiya 2012 Revocable Trust dtd 11/26/2012 | Sell | 4212026 | 22.16 | 72,940 | 1,616,270 | 7,025,701 | Form | |
| 26 | Moll, Laurent R | Chief Operating Officer | Direct | Sell | 4162026 | 20.03 | 13,448 | 269,381 | 5,318,911 | Form |
| 27 | Chitkara, Raman | Direct | Sell | 4142026 | 20.05 | 5,000 | 100,254 | 3,065,106 | Form | |
| 28 | Moll, Laurent R | Chief Operating Officer | Direct | Sell | 4142026 | 19.90 | 1,003 | 19,960 | 5,551,682 | Form |
| 29 | Moll, Laurent R | Chief Operating Officer | Direct | Sell | 4142026 | 19.90 | 990 | 19,701 | 5,571,642 | Form |
| 30 | Janac, K Charles | President and CEO | Bayview Legacy, LLC | Sell | 4102026 | 19.04 | 70,000 | 1,332,786 | 173,625,288 | Form |
| 31 | Bayview, Legacy, Llc | See Footnote | Sell | 4092026 | 19.04 | 70,000 | 1,332,786 | 173,625,288 | Form | |
| 32 | Janac, K Charles | President and CEO | Direct | Sell | 4062026 | 18.34 | 11,800 | 216,405 | 3,607,892 | Form |
| 33 | Moll, Laurent R | Chief Operating Officer | Direct | Sell | 4062026 | 18.23 | 1,552 | 28,293 | 5,122,120 | Form |
| 34 | Hawkins, Nicholas B | VP and Chief Financial Officer | Direct | Sell | 4062026 | 17.65 | 4,870 | 85,969 | 2,093,869 | Form |
| 35 | Janac, K Charles | President and CEO | Direct | Sell | 4062026 | 17.65 | 9,009 | 159,034 | 3,681,121 | Form |
| 36 | Alpern, Paul L | VP and General Counsel | Direct | Sell | 4062026 | 17.65 | 3,649 | 64,415 | 1,524,955 | Form |
| 37 | Moll, Laurent R | Chief Operating Officer | Direct | Sell | 4062026 | 17.65 | 5,602 | 98,891 | 4,987,340 | Form |
| 38 | Bayview, Legacy, Llc | See Footnote | Sell | 3272026 | 18.35 | 32,988 | 605,191 | 168,580,859 | Form | |
| 39 | Janac, K Charles | President and CEO | Bayview Legacy, LLC | Sell | 3272026 | 18.35 | 32,988 | 605,191 | 168,580,859 | Form |
| 40 | Bayview, Legacy, Llc | See Footnote | Sell | 3272026 | 18.03 | 7,012 | 126,433 | 166,282,024 | Form | |
| 41 | Janac, K Charles | President and CEO | Bayview Legacy, LLC | Sell | 3272026 | 18.03 | 7,012 | 126,433 | 166,282,024 | Form |
| 42 | Bayview, Legacy, Llc | See Footnote | Sell | 3112026 | 14.66 | 9,000 | 131,967 | 135,325,868 | Form | |
| 43 | Janac, K Charles | President and CEO | Bayview Legacy, LLC | Sell | 3112026 | 14.66 | 9,000 | 131,967 | 135,325,868 | Form |
| 44 | Bayview, Legacy, Llc | See Footnote | Sell | 3112026 | 14.21 | 41,000 | 582,626 | 131,276,684 | Form | |
| 45 | Janac, K Charles | President and CEO | Bayview Legacy, LLC | Sell | 3112026 | 14.21 | 41,000 | 582,626 | 131,276,684 | Form |
| 46 | Raza, Saiyed Atiq | Saiyed Atiq Raza and Nandini Saraiya 2012 Revocable Trust dtd 11/26/2012 | Sell | 3042026 | 17.02 | 3,690 | 62,786 | 6,635,967 | Form | |
| 47 | Raza, Saiyed Atiq | Saiyed Atiq Raza and Nandini Saraiya 2012 Revocable Trust dtd 11/26/2012 | Sell | 3042026 | 17.21 | 106,031 | 1,825,080 | 6,776,468 | Form | |
| 48 | Raza, Saiyed Atiq | Saiyed Atiq Raza and Nandini Saraiya 2012 Revocable Trust dtd 11/26/2012 | Sell | 2272026 | 17.01 | 11,762 | 200,047 | 8,499,205 | Form | |
| 49 | Raza, Saiyed Atiq | Saiyed Atiq Raza and Nandini Saraiya 2012 Revocable Trust dtd 11/26/2012 | Sell | 2272026 | 17.14 | 73,610 | 1,261,793 | 8,767,637 | Form | |
| 50 | Raza, Saiyed Atiq | Saiyed Atiq Raza and Nandini Saraiya 2012 Revocable Trust dtd 11/26/2012 | Sell | 2272026 | 17.00 | 4,907 | 83,419 | 9,946,640 | Form | |
| 51 | Bayview, Legacy, Llc | See Footnote | Sell | 2112026 | 15.03 | 2,756 | 41,429 | 140,537,105 | Form | |
| 52 | Janac, K Charles | President and CEO | Bayview Legacy, LLC | Sell | 2112026 | 15.03 | 2,756 | 41,429 | 140,537,105 | Form |
| 53 | Bayview, Legacy, Llc | See Footnote | Sell | 2112026 | 15.21 | 47,244 | 718,359 | 142,197,335 | Form | |
| 54 | Janac, K Charles | President and CEO | Bayview Legacy, LLC | Sell | 2112026 | 15.21 | 47,244 | 718,359 | 142,197,335 | Form |
| 55 | Alpern, Paul L | VP and General Counsel | Direct | Sell | 2042026 | 15.48 | 5,000 | 77,376 | 892,151 | Form |
| 56 | Bayview, Legacy, Llc | See Footnote | Sell | 1202026 | 17.84 | 17,884 | 318,974 | 167,639,011 | Form | |
| 57 | Janac, K Charles | President and CEO | Bayview Legacy, LLC | Sell | 1202026 | 17.84 | 17,884 | 318,974 | 167,639,011 | Form |
| 58 | Janac, K Charles | President and CEO | Bayview Legacy, LLC | Sell | 1122026 | 16.58 | 50,000 | 829,155 | 156,197,396 | Form |
| 59 | Bayview, Legacy, Llc | See Footnote | Sell | 1122026 | 16.58 | 50,000 | 829,155 | 156,197,396 | Form | |
| 60 | Janac, K Charles | President and CEO | Direct | Sell | 1062026 | 15.45 | 7,823 | 120,843 | 2,326,828 | Form |
| 61 | Moll, Laurent R | Chief Operating Officer | Direct | Sell | 1062026 | 15.45 | 5,373 | 82,997 | 3,892,561 | Form |
| 62 | Hawkins, Nicholas B | VP and Chief Financial Officer | Direct | Sell | 1062026 | 15.45 | 4,472 | 69,079 | 1,358,711 | Form |
| 63 | Alpern, Paul L | VP and General Counsel | Direct | Sell | 1062026 | 15.45 | 8,309 | 128,368 | 957,364 | Form |
| 64 | Moll, Laurent R | Chief Operating Officer | Direct | Sell | 12112025 | 18.96 | 17,937 | 340,112 | 4,877,315 | Form |
| 65 | Viana, Antonio J | Viana Family Trust | Sell | 12102025 | 18.01 | 20,000 | 360,194 | 2,964,757 | Form | |
| 66 | Hawkins, Nicholas B | VP and Chief Financial Officer | Direct | Sell | 12102025 | 17.56 | 721 | 12,661 | 1,623,088 | Form |
| 67 | Moll, Laurent R | Chief Operating Officer | Direct | Sell | 12092025 | 17.92 | 17,937 | 321,433 | 4,930,877 | Form |
| 68 | Bayview, Legacy, Llc | See Footnote | Sell | 12092025 | 17.71 | 70,000 | 1,239,966 | 167,733,230 | Form | |
| 69 | Janac, K Charles | President and CEO | Bayview Legacy, LLC | Sell | 12092025 | 17.71 | 70,000 | 1,239,966 | 167,733,230 | Form |
| 70 | Moll, Laurent R | Chief Operating Officer | Direct | Sell | 12092025 | 16.97 | 17,200 | 291,862 | 4,973,458 | Form |
| 71 | Bayview, Legacy, Llc | See Footnote | Sell | 12092025 | 17.08 | 60,000 | 1,024,674 | 162,907,301 | Form | |
| 72 | Janac, K Charles | President and CEO | Bayview Legacy, LLC | Sell | 12092025 | 17.08 | 60,000 | 1,024,674 | 162,907,301 | Form |
| 73 | Bayview, Legacy, Llc | See Footnote | Sell | 12082025 | 16.46 | 40,000 | 658,472 | 158,017,987 | Form | |
| 74 | Alpern, Paul L | VP and General Counsel | Direct | Sell | 12082025 | 16.09 | 7,500 | 120,639 | 1,049,994 | Form |
| 75 | Janac, K Charles | President and CEO | Bayview Legacy, LLC | Sell | 12082025 | 16.46 | 40,000 | 658,472 | 158,017,987 | Form |
| 76 | Janac, K Charles | President and CEO | Direct | Sell | 12042025 | 15.52 | 2,058 | 31,943 | 2,459,428 | Form |
| 77 | Alpern, Paul L | VP and General Counsel | Direct | Sell | 12042025 | 14.79 | 425 | 6,286 | 965,447 | Form |
| 78 | Moll, Laurent R | Chief Operating Officer | Direct | Sell | 12042025 | 14.79 | 202 | 2,988 | 4,589,278 | Form |
| 79 | Hawkins, Nicholas B | VP and Chief Financial Officer | Direct | Sell | 12042025 | 14.82 | 438 | 6,493 | 1,380,941 | Form |
| 80 | Janac, K Charles | President and CEO | Direct | Sell | 12042025 | 14.82 | 1,246 | 18,471 | 2,379,541 | Form |
| 81 | Alpern, Paul L | VP and General Counsel | Direct | Sell | 12042025 | 14.82 | 258 | 3,825 | 974,006 | Form |
| 82 | Moll, Laurent R | Chief Operating Officer | Direct | Sell | 12042025 | 14.82 | 612 | 9,073 | 4,603,009 | Form |
| 83 | Alpern, Paul L | VP and General Counsel | Direct | Sell | 12032025 | 14.30 | 5,000 | 71,494 | 943,155 | Form |
| 84 | Janac, K Charles | President and CEO | Bayview Legacy, LLC | Sell | 11122025 | 14.74 | 50,000 | 736,830 | 142,047,134 | Form |
| 85 | Bayview, Legacy, Llc | See Footnote | Sell | 11122025 | 14.74 | 50,000 | 736,830 | 142,047,134 | Form | |
| 86 | Moll, Laurent R | Chief Operating Officer | Direct | Sell | 11072025 | 15.42 | 32,775 | 505,499 | 4,798,343 | Form |
| 87 | Alpern, Paul L | VP and General Counsel | Direct | Sell | 11052025 | 13.16 | 5,000 | 65,810 | 868,166 | Form |
| 88 | Janac, K Charles | President and CEO | Bayview Legacy, LLC | Sell | 10102025 | 13.07 | 50,000 | 653,710 | 126,676,852 | Form |
| 89 | Bayview, Legacy, Llc | See Footnote | Sell | 10102025 | 13.07 | 50,000 | 653,710 | 126,676,852 | Form | |
| 90 | Hawkins, Nicholas B | VP and Chief Financial Officer | Direct | Sell | 10082025 | 13.21 | 6,421 | 84,804 | 1,236,071 | Form |
| 91 | Janac, K Charles | President and CEO | Direct | Sell | 10082025 | 14.00 | 5,755 | 80,570 | 2,264,626 | Form |
| 92 | Janac, K Charles | President and CEO | Bayview Legacy, LLC | Sell | 10082025 | 13.10 | 100,000 | 1,310,450 | 127,625,656 | Form |
| 93 | Bayview, Legacy, Llc | See Footnote | Sell | 10082025 | 13.10 | 100,000 | 1,310,450 | 127,625,656 | Form | |
| 94 | Viana, Antonio J | Viana Family Trust | Sell | 10062025 | 14.00 | 11,841 | 165,774 | 2,584,680 | Form | |
| 95 | Moll, Laurent R | Chief Operating Officer | Direct | Sell | 10062025 | 12.66 | 17,200 | 217,749 | 4,353,515 | Form |
| 96 | Alpern, Paul L | VP and General Counsel | Direct | Sell | 10062025 | 11.08 | 4,750 | 52,640 | 730,969 | Form |
| 97 | Moll, Laurent R | Chief Operating Officer | Direct | Sell | 10062025 | 11.09 | 1,554 | 17,229 | 4,003,205 | Form |
| 98 | Janac, K Charles | President and CEO | Direct | Sell | 10062025 | 11.07 | 11,821 | 130,864 | 1,854,464 | Form |
| 99 | Alpern, Paul L | VP and General Counsel | Direct | Sell | 10062025 | 10.92 | 2,877 | 31,419 | 772,210 | Form |
| 100 | Moll, Laurent R | Chief Operating Officer | Direct | Sell | 10062025 | 10.98 | 23,762 | 260,834 | 3,980,670 | Form |
| 101 | Janac, K Charles | President and CEO | Direct | Sell | 10062025 | 10.92 | 7,147 | 78,051 | 1,958,482 | Form |
| 102 | Hawkins, Nicholas B | VP and Chief Financial Officer | Direct | Sell | 10062025 | 10.92 | 3,887 | 42,449 | 1,092,200 | Form |
| 103 | Alpern, Paul L | VP and General Counsel | Direct | Sell | 10032025 | 10.31 | 5,000 | 51,544 | 758,601 | Form |
| 104 | Alpern, Paul L | VP and General Counsel | Direct | Sell | 9172025 | 8.88 | 10,000 | 88,805 | 653,489 | Form |
| 105 | Hawkins, Nicholas B | VP and Chief Financial Officer | Direct | Sell | 9102025 | 8.69 | 3,660 | 31,806 | 902,905 | Form |
| 106 | Alpern, Paul L | VP and General Counsel | Direct | Sell | 9102025 | 8.69 | 2,278 | 19,794 | 639,397 | Form |
| 107 | Alpern, Paul L | VP and General Counsel | Direct | Sell | 9102025 | 8.98 | 424 | 3,808 | 681,268 | Form |
| 108 | Moll, Laurent R | Chief Operating Officer | Direct | Sell | 9092025 | 8.61 | 151 | 1,300 | 3,326,913 | Form |
| 109 | Moll, Laurent R | Chief Operating Officer | Direct | Sell | 9092025 | 8.74 | 8,129 | 71,075 | 3,379,779 | Form |
| 110 | Moll, Laurent R | Chief Operating Officer | Direct | Sell | 9092025 | 8.80 | 4,698 | 41,364 | 3,474,969 | Form |
| 111 | Janac, K Charles | President and CEO | Direct | Sell | 9082025 | 8.73 | 2,057 | 17,948 | 1,627,149 | Form |
| 112 | Moll, Laurent R | Chief Operating Officer | Direct | Sell | 9032025 | 8.94 | 42,692 | 381,739 | 3,571,127 | Form |
| 113 | Janac, K Charles | President and CEO | Direct | Sell | 9032025 | 8.94 | 1,246 | 11,141 | 1,685,859 | Form |
| 114 | Hawkins, Nicholas B | VP and Chief Financial Officer | Direct | Sell | 9032025 | 8.94 | 438 | 3,916 | 961,751 | Form |
| 115 | Alpern, Paul L | VP and General Counsel | Direct | Sell | 9032025 | 8.94 | 258 | 2,307 | 682,153 | Form |
| 116 | Bayview, Legacy, Llc | See Footnote | Sell | 8072025 | 13.12 | 50,000 | 655,995 | 129,087,628 | Form | |
| 117 | Viana, Antonio J | Viana Family Trust | Sell | 8072025 | 14.14 | 6,909 | 97,699 | 2,778,135 | Form | |
| 118 | Raza, Saiyed Atiq | Saiyed Atiq Raza and Nandini Saraiya 2012 Revocable Trust dtd 11/26/2012 | Sell | 8072025 | 13.07 | 63,118 | 825,205 | 7,713,660 | Form | |
| 119 | Moll, Laurent R | Chief Operating Officer | Direct | Sell | 8072025 | 13.57 | 34,400 | 466,763 | 5,998,329 | Form |
| 120 | Hawkins, Nicholas B | VP and Chief Financial Officer | Direct | Sell | 8072025 | 13.15 | 11,276 | 148,285 | 1,420,201 | Form |
| 121 | Janac, K Charles | President and CEO | Direct | Sell | 8072025 | 13.49 | 94,245 | 1,271,120 | 2,559,706 | Form |
| 122 | Janac, K Charles | President and CEO | Bayview Legacy, LLC | Sell | 8072025 | 13.12 | 50,000 | 655,995 | 129,087,628 | Form |
| 123 | Hawkins, Nicholas B | VP and Chief Financial Officer | Direct | Sell | 8042025 | 9.03 | 5,638 | 50,927 | 1,077,360 | Form |
| 124 | Raza, Saiyed Atiq | Saiyed Atiq Raza and Nandini Saraiya 2012 Revocable Trust dtd 11/26/2012 | Sell | 7312025 | 10.07 | 29,544 | 297,384 | 6,574,155 | Form | |
| 125 | Hawkins, Nicholas B | VP and Chief Financial Officer | Direct | Sell | 7312025 | 10.50 | 5,638 | 59,206 | 1,311,717 | Form |
| 126 | Moll, Laurent R | Chief Operating Officer | Direct | Sell | 7312025 | 10.90 | 736 | 8,022 | 5,193,534 | Form |
| 127 | Raza, Saiyed Atiq | Saiyed Atiq Raza and Nandini Saraiya 2012 Revocable Trust dtd 11/26/2012 | Sell | 7212025 | 10.00 | 1,136 | 11,360 | 6,826,620 | Form | |
| 128 | Hawkins, Nicholas B | VP and Chief Financial Officer | Direct | Sell | 7072025 | 9.22 | 4,948 | 45,624 | 1,203,744 | Form |
| 129 | Janac, K Charles | President and CEO | Direct | Sell | 7072025 | 9.25 | 11,815 | 109,231 | 2,625,886 | Form |
| 130 | Alpern, Paul L | VP and General Counsel | Direct | Sell | 7072025 | 9.25 | 3,609 | 33,371 | 707,799 | Form |
| 131 | Moll, Laurent R | Chief Operating Officer | Direct | Sell | 7072025 | 9.23 | 1,554 | 14,342 | 4,404,239 | Form |
| 132 | Janac, K Charles | President and CEO | Direct | Sell | 7072025 | 8.99 | 7,153 | 64,323 | 2,660,357 | Form |
| 133 | Alpern, Paul L | VP and General Counsel | Direct | Sell | 7072025 | 8.99 | 2,879 | 25,889 | 720,795 | Form |
| 134 | Moll, Laurent R | Chief Operating Officer | Direct | Sell | 7072025 | 8.99 | 4,704 | 42,300 | 4,305,210 | Form |
| 135 | Hawkins, Nicholas B | VP and Chief Financial Officer | Direct | Sell | 7072025 | 8.99 | 3,889 | 34,971 | 1,218,434 | Form |
| 136 | Moll, Laurent R | Chief Operating Officer | Direct | Sell | 7022025 | 9.09 | 294 | 2,672 | 4,393,198 | Form |
| 137 | Janac, K Charles | President and CEO | Direct | Sell | 7012025 | 9.09 | 2,666 | 24,239 | 2,754,797 | Form |
| 138 | Hawkins, Nicholas B | VP and Chief Financial Officer | Direct | Sell | 7012025 | 9.08 | 5,638 | 51,196 | 1,265,699 | Form |
| 139 | Raza, Saiyed Atiq | Saiyed Atiq Raza and Nandini Saraiya 2012 Revocable Trust dtd 11/26/2012 | Sell | 7012025 | 10.02 | 19,809 | 198,492 | 6,851,861 | Form | |
| 140 | Janac, K Charles | President and CEO | Bayview Legacy, LLC | Sell | 7012025 | 10.02 | 18,620 | 186,585 | 99,095,414 | Form |
| 141 | Hawkins, Nicholas B | VP and Chief Financial Officer | Direct | Sell | 7012025 | 10.00 | 5,638 | 56,380 | 1,450,230 | Form |
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