Arteris Appoints Semiconductor Industry Veteran Joachim Kunkel to Board of Directors

Arteris adds Joachim Kunkel to Board of Directors By Investing.com

CAMPBELL, CA - Arteris, Inc. (NASDAQ:AIP), a semiconductor company, announced today the appointment of Joachim Kunkel to its Board of Directors. The decision, effective today, follows a recommendation from the company's Nominating and Corporate Governance Committee. Kunkel, who most recently served as General Manager of the Intellectual Property business unit at Synopsys (NASDAQ:SNPS), Inc., brings a wealth of experience to Arteris. His prior roles at Synopsys since 1994 and his co-founding of CADIS GmbH in Aachen, Germany, showcase a background rich in engineering, sales, and marketing. As a Class II director and a member of the Compensation Committee, Kunkel's term will extend until the 2026 annual meeting of stockholders or until his earlier departure. His compensation includes an annual retainer of $57,500, prorated for 2024, and an initial restricted stock unit award based on the 30-day average stock price of Arteris's common stock as of September 16, 2024. The information in this article is based on an SEC filing In other recent news, Arteris has reported a robust Q2 performance, driven by strong demand in the AI and Automotive sectors. The SoC solutions provider recorded an annual contract value plus royalties of $60.1 million. This success is attributed to the addition of seven new customers, the signing of four new license deals with existing clients, including two top global automotive OEMs, and 21 confirmed design starts mainly in the AI-enabled autonomous driving sector. The company's total revenue for the quarter stood at $14.6 million, with a high gross margin of 90%, and a positive free cash flow of $300,000. Arteris expects its annual contract value plus royalties to range between $58.5 million and $62.5 million for Q3, with revenues projected at $14.2 million to $15.2 million. For the full year of 2024, the company's guidance includes an annual contract value plus royalties of $62 million to $68 million and revenue of $56 million to $58 million. CEO Charles Janac and CFO Nick Hawkins (NASDAQ:HWKN) have emphasized the company's strategic control over spending and focus on achieving positive cash flow, despite economic and geopolitical challenges. As Arteris, Inc. (NASDAQ:AIP) welcomes Joachim Kunkel to its Board of Directors, investors may be curious about the company's financial health and market performance. According to InvestingPro data, Arteris holds a market capitalization of $287.76 million and has a notable gross profit margin of 89.39% for the last twelve months as of Q2 2024. Despite not being profitable over the last year, with an adjusted P/E ratio of -7.36, the company maintains an impressive cash position, holding more cash than debt on its balance sheet. InvestingPro Tips suggest that while analysts do not anticipate the company will be profitable this year, there is optimism as 4 analysts have revised their earnings upwards for the upcoming period. Additionally, Arteris is trading at a high Price / Book multiple of 53.51. It's worth noting for potential investors that Arteris does not pay a dividend, which may influence investment strategies focused on income generation. For those interested in a deeper dive into Arteris's financial metrics and potential investment strategies, there are additional InvestingPro Tips available at https://www.investing.com/pro/AIP. These tips could provide valuable insights for making informed decisions regarding Arteris's stock.

Joachim Kunkel Joins Arteris Board of Directors - Arteris (NASDAQ:AIP)

CAMPBELL, Calif., Sept. 16, 2024 (GLOBE NEWSWIRE) -- Arteris, Inc. AIP, a leading provider of system IP which accelerates system-on-chip (SoC) creation, today announced that Joachim Kunkel will join its Board of Directors. Mr. Kunkel most recently served as the General Manager of the Intellectual Property (IP) business unit at Synopsys where he grew Synopsys' IP revenue to over $1.5 billion, making Synopsys the second largest semiconductor IP company in the world. With three decades of experience at Synopsys, Mr. Kunkel brings a wealth of knowledge and leadership to Arteris. Prior to joining Synopsys, Joachim Kunkel co-founded and served as managing director of CADIS GmbH, where he played a pivotal role in its early success by contributing to engineering, sales and marketing. He holds a master's degree in electrical engineering from Aachen University of Technology, where he focused his research on system-level simulation techniques for digital signal processing. "I am honored to join the Arteris Board of Directors and to contribute to the company's continued growth and innovative leadership in system IP. It's exciting to join at this moment in time when AI is driving complexity in SoC designs, grounding system IP as a necessary technology for product performance and fast innovation cycles," said Joachim Kunkel. "I look forward to working alongside Arteris' talented board and executive team to fuel the company's continued growth and evolution as a leader in system IP." "We are thrilled to welcome Joachim Kunkel to our Board of Directors," said K. Charles Janac, president and CEO of Arteris. "His extensive experience in IP and the semiconductor industry, coupled with his visionary leadership at Synopsys, will be invaluable as we continue to expand our footprint and innovate to meet the evolving needs of the market." About Arteris Arteris is a leading provider of system IP for the acceleration of system-on-chip (SoC) development across today's electronic systems. Arteris network-on-chip (NoC) interconnect IP and SoC integration automation technology enable higher product performance with lower power consumption and faster time to market, delivering better SoC economics so its customers can focus on dreaming up what comes next. Learn more at arteris.com. © 2004-2024 Arteris, Inc. All rights reserved worldwide. Arteris, Arteris IP, the Arteris IP logo, and the other Arteris marks found at https://www.arteris.com/trademarks are trademarks or registered trademarks of Arteris, Inc. or its subsidiaries. All other trademarks are the property of their respective owners. This press release was published by a CLEAR® Verified individual. Arteris Media Contact: Gina Jacobs +1 408 560 3044 [email protected] Market News and Data brought to you by Benzinga APIs