Does Arteris, Inc. have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores Arteris, Inc. (AIP) 40.3 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 100, returns on capital 0, balance-sheet safety 28, capital discipline 24.

How has AIP's Moat Score changed over time?

The record logs 3 readings since Jul 17, 2026; the latest reads 40.3 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

Arteris, Inc.

AIP · Technology · $1.4B mkt cap · FY2025 filings · Shallow moat ·

Doesn't clear the bar

Shallow moat

The four filters

Pricing power100

Median gross margin 90.4% over 6y, very stable.

Returns on capital0

Median ROIC -11163.5%, above the 9% hurdle in 0% of years.

Balance-sheet safety28

Net debt/EBITDA n/ax, interest coverage -172x.

Capital discipline24

Owner earnings trend unclear, share count growing (dilution).

Margin of safety

Above valueOn sale

No price data

Owner earnings (normalized): —
Est. intrinsic value / share: —
Recent price: $31.04
Discount to value: No price data

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

7 years of fundamentals

The business, in plain English

Arteris, Inc. booked $70.6M of revenue in FY2025 in the Technology sector and kept 90.2% of it as gross profit — a high-margin business by that measure. After every other cost, −49.2% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $31.8M (FY2020) to $70.6M (FY2025) — about 17.3% a year compounded over 5 years.

AIP's filings don't disclose total debt in a form the methodology can use, so leverage is treated as unmeasured — never assumed to be zero.

The share count rose 139.5% between FY2020 and FY2025 — existing owners have been diluted over the record. Capital Discipline scores it 24/100.

Put together: Pricing Power is the strongest of the four filters (100/100) and Returns on Capital the weakest (0/100), which is how AIP lands at 40/100 — a Shallow moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

RevenueSales, as filed$70.6M FY2025

Gross marginRevenue kept after cost of goods90.2% FY2025

Return on invested capitalOperating profit on the capital employed−1973.1% FY2023

Owner earningsCash an owner could take out−$32.8M FY2025

Gaps in a line mean that item isn’t in AIP’s filings for that year — the series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale40.3 / 100

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars

None yet — AIP has read Shallow moat for every logged capture since Jul 17, 2026.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Technology context

#315 of 532 scored Technology companies, ranked by Moat Score.

Nearest peers by Moat Score

#313MDB MONGODB, INC.40.3 out of 100, Shallow moatShallow moat
#314CMRC Commerce.com, Inc.40.3 out of 100, Shallow moatShallow moat
#316ZS ZSCALER, INC.40.3 out of 100, Shallow moatShallow moat
#317BNAI Brand Engagement Network Inc.40.3 out of 100, Shallow moatShallow moat

Compare AIP with its nearest peers →All Technology companies on the Index →

Common questions about AIP

Does Arteris, Inc. have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores Arteris, Inc. (AIP) 40.3 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 100, returns on capital 0, balance-sheet safety 28, capital discipline 24.
How has AIP's Moat Score changed over time?: The record logs 3 readings since Jul 17, 2026; the latest reads 40.3 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell AIP. See the disclaimer.