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    Ethan Potasnick

    Research Analyst at TD Cowen

    Ethan Potasnick is a Vice President, Equity Research Analyst at TD Cowen, specializing in data center infrastructure, semiconductor, and technology hardware coverage. He follows companies such as Arteris and contributes to comprehensive sector reports focused on acceleration and generative AI, demonstrating a robust understanding of technology trends and industry performance. Potasnick began his career as a Research Associate at Cowen & Co. before advancing to Vice President at TD Securities (USA) LLC and later assuming his current role at TD Cowen, spanning over a decade in equity research. He holds relevant FINRA securities licenses and is recognized for his detailed analytical work, though specific performance rankings or returns are not publicly detailed.

    Ethan Potasnick's questions to Arteris (AIP) leadership

    Ethan Potasnick's questions to Arteris (AIP) leadership • Q4 2024

    Question

    Ethan Potasnick of TD Cowen requested more detail on the licensing and royalty results amid the current macro environment, particularly in the automotive sector. He also asked about the company's profitability trajectory and progress toward its free cash flow positive target for 2025.

    Answer

    Executive Nick Hawkins clarified that while total royalties were slightly down due to one-time audit benefits in the prior year, variable royalties grew 20% year-over-year, or over 30% when excluding the impact of Mobileye's inventory correction. He affirmed confidence in achieving positive free cash flow for the full year 2025, driven by high-teens to low-20s revenue growth while constraining OpEx growth to about half that rate. He also noted that cash flow is typically weighted to the second half of the year.

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