Chip designer ARM reported yet another record quarter on Wednesday, with sales up 26 percent year-on-year.

ARM’s revenue hit $191 million, with a net profit of about $35.5 million. However, the profit was in fact reduced to $20.3 million due to unfavorable currency exchange rates.

It is estimated that 1.85 billion ARM-licensed chips were churned out by fabs worldwide and total shipemts are expected to surpass 8 billion units by the end of the year, making ARM a $1 billion company.

Strong demand in the smartphone market and the advent of ARM-based tablets has also prompted interest in ARM licenses, hence the outfit managed to sell a total 39 licenses in Q1, including 26 Cortex processor licenses and seven Mali graphics processor licenses.

It is worth noting that ten of the licenses went to companies who never dabbled in the ARM market before.