Ememory Technology, Inc. · TPEX:3529
Ememory Technology — Taipei Exchange Investor Conference (August 2020)
31 slides from Ememory Technology's conference presentation, August 2020
Slide 1: Investor Presentation
Investor Presentation Embedded wisely, Embedded widely
Slide 2: IPR Notice
IPR Notice All rights, titles and interests contained in this information, texts, images, figures, tables or other files herein, including, but not limited to, its ownership and the intellectual property rights, are reserved to eMemory. This information may contain privileged and confidential inform
Slide 3: Cautionary Statement
Cautionary Statement This presentation contains forward-looking statements, which are subject to risk factors associated with semiconductor and intellectual property business. It is believed that the expectations reflected in these statements are reasonable. But they may be affected by a variety of
Slide 4: Contents
Contents 1 Review of Operations 2 Future Outlook 3 Q&A 4 Appendix Embedded Wisely, Embedded Widely 4
Slide 5: Review of Operations
Review of Operations Embedded Wisely, Embedded Widely 5
Slide 6: Q2 2020 Financial Results
Q2 2020 Financial Results The EPS of Q2 2020 was 2.28 NTD, ROE was 41.9% (thousands of NT dollars) Change Change Change Q2 2020 Q1 2020 Q2 2019 H1 2020 H1 2019 (QoQ) (YoY) (YoY) Revenue 423,276 415,436 1.9% 316,541 33.7% 838,712 711,602 17.9% Gross Margin 100% 100% - 100% - 100% 100% - Operating Exp
Slide 7: Revenue in Different Stream
Revenue in Different Stream Q2 revenue up 38.1% YoY in US dollar terms Revenue Breakdown 20Q2 in comparison to 20Q1 $400,000 20Q1 20Q2 Royalty 72.1% $200,000 $0 Licensing Licensing Royalty 27.9% Revenue NT$ Thousands Q2 2020 Q1 2020 QoQ Q2 2019 YoY H1 2020 H1 2019 YoY Licensing 118,062 106,446 10.9%
Slide 8: Q2 Revenue by Technology
Q2 Revenue by Technology The royalty of NeoFuse has a growth of 100.4% YoY The licensing revenue of NeoFuse increased 12.3% QoQ and 27.6% YoY. Its royalty revenue decreased 2.3% QoQ but increased 100.4% YoY. The licensing revenue of NeoBit decreased 15.6% QoQ and 26.7% YoY. Its royalty revenue i
Slide 9: H1 Revenue by Technology
H1 Revenue by Technology The royalty of NeoFuse has a growth of 136.8% YoY The licensing revenue of NeoFuse increased 21.4% YoY. Its royalty revenue increased 136.8% YoY. The licensing revenue of NeoBit decreased 6.9% YoY. Its royalty revenue increased 1.2% YoY. The licensing revenue of MTP (N
Slide 10: Royalty Revenue by Wafer Size
Royalty Revenue by Wafer Size 12-inch wafer increased 109.4% YoY Q2 Royalty Breakdown 12-inch 12-inch wafers contributed 35.9% of royalty, decreased 35.9% 1.2% sequentially but increased 109.4% YoY. 8-inch wafers contributed 64.1% of royalty, decreased 1.2% sequentially but increased 22.7% YoY.
Slide 11: Future Outlook
Future Outlook Embedded Wisely, Embedded Widely 11
Slide 12: eMemory Embedded Everywhere: Security
eMemory Embedded Everywhere eMemory’s IP seeks to penetrate across all the applications Core Tech Security Product Applications: The Future in Security Chip IP: eMemory’s IP are already applied into different The rapid growth in AIoT and 5G drive the applications, which includes PMIC, LCD driver
Slide 13: Our Perspectives
Our Perspectives eMemory continue to create value for the industry and our shareholders New Licensing & Application & Royalty Technology Development Licensing: For new applications: • NeoFuse and NeoPUF will continue to grow due to • PUF-based security IPs adopted by customers in AI, IoT, increa
Slide 14: Q&A
Q&A Embedded Wisely, Embedded Widely 14
Slide 15: Appendix
Appendix Embedded Wisely, Embedded Widely 15
Slide 16: Company Overview
Company Overview eMemory is the global leader of embedded non-volatile memory IP Revenue Trend (Unit: NT$ 1,000) 1,600,000 Licensing & 1,400,000 Royalty License/Design Revenue Royalty 1,200,000 1,000,000 800,000 600,000 400,000 200,000 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 20
Slide 17: Quarterly Revenue Pattern
Quarterly Revenue Pattern eMemory’s quarterly revenue pattern 1st month: Receive License Fees of the month and Royalty from most foundries on previous quarter’s wafer shipments. 2nd month: Receive License Fees of the month and Royalty from other foundries. 3rd month: License Fees Only. Note: O
Slide 18: Worldwide Customers
Worldwide Customers Our IP solutions are adopted by leading foundries, IDMs and fabless worldwide New Country Licensing Foundry IDM & Fabless Application & Royalty Technology Taiwan 4 1 302 Development China 8 0 812 Korea 4 0 87 Japan 4 7 64 North 1 1 306 America Europe 2 1 177 Others 1 0 76 Embedde
Slide 19: Business Model
Business Model Recurring royalty is the backbone of our business 70-75% revenue are from royalty based on wafer production More adoption = more volume shipment More advanced node wafers = higher ASP per wafer Revenue Breakdown 2-3 years 2-3 years License Fee Design License Fee Royalty Foundrie
Slide 20: Technology Licenses
Technology Licenses Cumulative technology licenses Number of Licenses Year 2016 2017 2018 2019 H1 2020 License 43 20 26 18 17 Note: Terms (including number of process platforms and licensing fees) for each technology license are set contractually. Payments are made according to set milestones, and t
Slide 21: New Technology Under Development
New Technology Under Development Products in different process nodes New technologies are being developed for 93 platforms by Q2 2020. 12 licensing contracts were signed, 1 for NeoBit and 11 for NeoFuse. 0.11~ 0.15~ Technology 5/6nm 7/10nm 12/16nm 22/28nm 40nm 55/65nm 80/90nm >0.25um 0.13um 0.18
Slide 22: Technology Development
Technology Development Developments by process nodes 12" Fabs Production Development IP Type Process Type 5/6nm 0 3 OTP, PUF FF 7/10nm 2 1 OTP, PUF FF, FF+ 12/16nm 3 3 OTP FF, FF+ 22/28nm 27 14 OTP, PUF, MTP LP/ULP/ULL, HPC/HPC+, HV-OLED, DRAM, SOI 40nm 14 6 OTP, PUF, MTP LP/ULP, E-Flash, HV-DDI/OLE
Slide 23: NeoFuse Mechanism
NeoFuse Mechanism Programming and Read Mechanism Programming Mechanism • Apply one high voltage, V+++, to form a Quantum Tunneling path. 0V 0V Initial Programming Read Mechanism • Apply a normal operation voltage, VR, to read the current flow through the tunneling path. VR VR I≠0 I=0 I I=0 0V 0V 0V
Slide 24: Quantum Tunneling Mechanism
Quantum Tunneling Mechanism Quantum Tunneling Phenomenon of NeoFuse and NeoPUF • Electrons transport from Si substrate to metal gate through dangling bonds (oxide traps) • Electron tunneling through the gate oxide if there are many dangling bonds (oxide traps) in the oxide • If no dangling bonds are
Slide 25: NeoFuse vs. eFuse
NeoFuse vs. eFuse NeoFuse’s invisibility ensures no exposure risk from invasive attack NeoFuse No visible difference NeoFuse under SEM Un-programmed “0” Programmed “1” Gate Gate Oxide Oxide • Invisible Source Drain / Source Drain / / Drain Source / Drain Source • Untraceable • Reliable Un-programmed
Slide 26: NeoPUF Mechanism
NeoPUF Mechanism Enrollment and Extraction • A path of oxide quantum tunneling would be located at either left or right one after high voltage is applied to a pair of NeoFuse in parallel, which depends on the micro-difference in oxide quality variations. • Awarded 2018 ISSCC outstanding paper NeoFus
Slide 27: HW Root-of-Trust (HRoT)
HW Root-of-Trust (HRoT) OTP, PUF and TRNG are the basis of HRoT Application Layer A Trusted HW RoT should have: Software Layer ● Secure Storage to store the sensitive data (key) ● Protected Realm to further protect key/cryptographic Physical Layer HW RoT Secure Storage: Trusted Secure Realm ● Invisi
Slide 28: PUFrt
PUFrt A trusted macro meets all the needs of HRoT System BUS A Highly Integrated PUF-based HRoT PRTC: R/W Access Authority Control Interface PRTC (APB Interface) PUFuid: Instant Ready On-chip UIDs PUFtrng PUFuid (PUF-based True Random Number Generator) (PUF-based Unique ID) PUFtrng: Instant Re
Slide 29: PUF Series Articles
PUF Series Articles Press release and articles regarding security with NeoPUF Press Release: 8/4 PUFsecurity Launches Unique Quantum-Tunneling PUF-based Root-of-Trust Link: https://blog.pufsecurity.com/2020/08/04/pufsecurity-launches-unique-quantum-tunneling-puf-based-root-of-trust/ 6/2 PUFsecurity
Slide 30: Q&A
Q&A Embedded Wisely, Embedded Widely 30
Slide 31: Embedded wisely, Embedded widely
Embedded wisely, Embedded widely Embedded Wisely, Embedded Widely 31
eMemory Technology — Taipei Exchange Investor Conference (August 2020) on 6ix