AIPMEDIUM SIGNALOPPORTUNITY10-K

AIP delivered strong revenue growth of 22% alongside improved gross margins while expanding its technology positioning and customer relationships.

The company appears to be successfully capitalizing on increasing semiconductor complexity trends, with revenue growth outpacing R&D expense increases, suggesting improving operational leverage. The removal of litigation language and emphasis on strong customer retention rates (90%) indicates reduced legal overhang and stable business fundamentals.

Comparing 2026-02-12 vs 2025-02-18View on EDGAR →
FINANCIAL ANALYSIS

AIP showed robust top-line momentum with revenue growing 22% to $71M and gross profit expanding 23% to $64M, indicating slight margin improvement. The company maintained disciplined cost management with R&D expenses rising only 11% despite the revenue acceleration. Balance sheet changes reflect normal business scaling, with both assets and liabilities growing proportionally in the high-teens to low-twenties percentage range.

FINANCIAL STATEMENT CHANGES
Current Liabilities
Balance Sheet
+23.5%
$59.3M→$73.2M

Current liabilities rose 23.5% — increased short-term obligations, watch current ratio.

Gross Profit
P&L
+23%
$51.8M→$63.7M

Gross profit expanding — improving pricing power or product mix shift toward higher-margin offerings.

Revenue
P&L
+22.3%
$57.7M→$70.6M

Revenue growing 22.3% — solid top-line momentum, watch margins for quality of growth.

Total Liabilities
Balance Sheet
+20.8%
$107.3M→$129.7M

Liabilities increased 20.8% — monitor debt-to-equity ratio and interest coverage.

Current Assets
Balance Sheet
+19.3%
$69.1M→$82.4M

Current assets grew 19.3% — improving short-term liquidity or inventory/receivables build.

R&D Expense
P&L
+10.9%
$45.0M→$49.9M

R&D investment increased 10.9% — signals commitment to future product development, though near-term margin impact.

LANGUAGE CHANGES
NEW — 2026-02-12
PRIOR — 2025-02-18
ADDED
As of February 5, 2026, there were 45,467,261 shares of the registrant s common stock outstanding.
Our System IP technology manages on-chip communications and IP block deployments by helping to enable the underlying data movement across chiplets, single-die and multi-die System-on-Chip (SoC) semiconductors.
Our leading proprietary System IP solutions achieve this by connecting various semiconductor IP blocks such as processors, memory and logic via multiple Network-on-Chips (NoCs) in order for our customers to meet functional design goals as well as performance and power requirements, while addressing design complexity with efficient and lower cost solutions.
We estimate that our solutions have been incorporated into over four billion production SoCs since inception.
Growing demand for our products and solutions is being driven by increasing SoC sophistication and associated complexity, now extending into disaggregation of SoCs into systems that implement the communication protocol aspects and partnering with industry-leading providers like Arm, Cadence, Synopsys, and others to help realize advanced systems.
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REMOVED
As of February 11, 2025, there were 40,948,190 shares of the registrant s common stock outstanding.
For example, we are currently involved in ongoing litigation related to patent infringement claims.
Our System IP technology manages the on-chip communications and IP block deployments in System-on-Chip (SoC) semiconductors and systems of chiplets.
Our leading proprietary System IP solutions achieve this by connecting client IP blocks such as processors, memories, artificial intelligence/machine learning (AI/ML) accelerators, graphics subsystems, safety and security, and other input/output subsystems (I/Os) via multiple Network-on-Chips (NoCs) in order for our customers to experience faster SoC targeting, as well as, more efficient, and lower cost solutions.
Growth for our solutions is being driven by growing SoC sophistication and associated complexity, now extending into disaggregation of SoCs into systems that implement the communication protocol aspects and partner with industry-leading providers like Synopsys, Cadence, Alphawave and others to connect to their die-to-die interfaces.
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MORE OPPORTUNITY SIGNALS
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