Aspeed Technology, Inc. · TPEX:5274
Aspeed Technology — Q3 2024 Earnings Presentation
26 slides from Aspeed Technology's earnings presentation, Dec 20, 2024
Slide 1: ASPEED Technology Investor Conference
信驊科技2024年第三季法人說明會 ASPEED Technology Investor Conference December 20, 2024 © ASPEED Technology. Property and Confidential
Slide 2: Safe Harbor Notice
Safe Harbor Notice ASPEED’s statements of its current expectations are forward-looking statements subject to significant risks and uncertainties and actual results may differ materially from those contained in the forward- looking statements. Except as required by law, we undertake no obligation to
Slide 3: Agenda
Agenda ● Company Profile ● 3Q24 Financial Results ● Product Portfolio ● 2025 Q1 Outlook ● Q&A © ASPEED Technology. Proprietary and Confidential.
Slide 4: Company Profile
Company Profile © ASPEED Technology. Proprietary and Confidential.
Slide 5: Company Profile
Company Profile ● Founded in 2004 ● Fabless-lite IC design company ● Number of employees: 123 (as of Nov. 2024) ● Product lineup (as of FY2023) - Cloud & Enterprise (BMC/BIC/PFR): 89% of revenue, #1 in BMC - Smart AV (Cupola360 & AVoIP SoC): 11% of revenue, #1 in AV over IP (1G Ethernet) #1 in Comme
Slide 6: Historical Revenue
Historical Revenue ⚫ As of the end of November 2024, the cumulative revenue reached NT$5.72 billion, representing a 103.53% growth compared to the cumulative revenue for the same period last year. Million NT$ 7,000 6,000 5,723 5,210 5,000 4,000 3,638 3,064 3,130 3,000 2,484 2,154 1,894 2,000 1,346 8
Slide 7: Milestones
Milestones ASPEED founded • ISO 9001:2000 certified • Listed on the Taiwan OTC • Joined Open Compute Project (OPC) stock market • Introduced new product line: Cupola360 • Introduced 2nd gen BMC SoC AST2100/2050/1100 • Listed on Taipei Exchange Spherical Image Processor • Introduced 3rd gen BMC • Int
Slide 8: Awards & Recognitions
Awards & Recognitions 2014 - 2023 2020 2022 2023 2024 Forbes Asia’s Best Under A Lenovo Technology COO Mr. CJ Hsieh received Chairman & President Mr. Golden Root Award by the Billion For 10 consecutive Innovation Award SEMI Industry Contribution Chris Lin received the Taiwan Industrial years Award a
Slide 9: 3Q24 Financial Results
3Q24 Financial Results © ASPEED Technology. Proprietary and Confidential.
Slide 10: Income Statement
Income Statement QoQ (%) YoY (%) 3Q24 3Q24 In NT$ thousands 3Q24 2Q24 3Q23 over over 2Q24 3Q23 Operating Revenue 1,986,435 1,356,045 796,713 46.49% 149.33% Gross Profit 1,276,807 859,222 498,395 48.60% 156.18% Gross Margin (%) 64.28% 63.36% 62.56% +0.91ppts +1.72ppts Operating Expenses 325,351 279,0
Slide 11: Consolidated Revenue
Consolidated Revenue Unit : NTD 1,000 2,500,000 65% 2,000,000 64% 1,500,000 63% 1,000,000 62% 500,000 - 61% 3Q23 4Q23 1Q24 2Q24 3Q24 Revenue Gross Margin 3Q23 4Q23 1Q24 2Q24 3Q24 QoQ YoY Revenue 796,713 984,247 1,013,473 1,356,045 1,986,435 46.49% 149.33% Gross Margin 62.56% 64.33% 63.24% 63.36% 64.
Slide 12: Operating Profit
Operating Profit Unit : NTD 1,000 1,000,000 60% 900,000 800,000 50% 700,000 40% 600,000 500,000 30% 400,000 300,000 20% 200,000 10% 100,000 - 0% 3Q23 4Q23 1Q24 2Q24 3Q24 Operating Profit Operating Margin (%) 3Q23 4Q23 1Q24 2Q24 3Q24 QoQ YoY Operating Profit 263,209 392,015 386,426 580,153 951,456 64
Slide 13: Operating Expenses
Operating Expenses Unit : NTD 1,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 - 3Q23 4Q23 1Q24 2Q24 3Q24 R&D Admin Sales 3Q23 4Q23 1Q24 2Q24 3Q24 QoQ YoY R&D 159,511 168,378 171,554 183,548 205,974 12.22% 29.13% Admin 55,330 50,962 59,731 68,944 81,735 18.55% 47.72% Sales 20,345 21,858
Slide 14: Net Income
Net Income Unit : NTD 1,000 800,000 45% 700,000 40% 600,000 35% 30% 500,000 25% 400,000 20% 300,000 15% 200,000 10% 100,000 5% - 0% 3Q23 4Q23 1Q24 2Q24 2Q24 Net Income Net Profit Margin (%) 3Q23 4Q23 1Q24 2Q24 3Q24 QoQ YoY Net Income 270,455 309,694 391,350 507,796 729,320 43.62% 169.66% Net Profit
Slide 15: Effective Tax Rate
Effective Tax Rate Unit : NTD 1,000 200,000 25% 180,000 160,000 20% 140,000 120,000 15% 100,000 80,000 10% 60,000 40,000 5% 20,000 - 0% 3Q23 4Q23 1Q24 2Q24 3Q24 Tax Effective Tax Rate (%) 3Q23 4Q23 1Q24 2Q24 3Q24 QoQ YoY Tax 69,092 32,954 76,868 125,804 182,203 44.83% 163.71% Effective Tax Rate (%)
Slide 16: Earnings Per Share
Earnings Per Share Unit : NTD 20 16 12 8 4 - 3Q23 4Q23 1Q24 2Q24 3Q24 Quarterly 3Q23 4Q23 1Q24 2Q24 3Q24 QoQ YoY EPS 7.16 8.20 10.36 13.44 19.30 43.60% 169.55% © ASPEED Technology. Proprietary and Confidential.
Slide 17: Product Portfolio
Product Portfolio © ASPEED Technology. Proprietary and Confidential.
Slide 18: Product Portfolio
Product Portfolio BMC：AST2500, AST2600, AST2700 Cloud & BIC：AST1030 Enterprise PFR：AST1060 I/O Expander：AST1700 AV Matrix：AST1520, AST1530 Smart AV AV Extender: AST1620, AST1630 Cupola360：AST1220, AST1230 © ASPEED Technology. Proprietary and Confidential.
Slide 19: Main Product – BMC
Main Product – BMC The Baseboard Management Controller (BMC) is used for remote monitoring and management of the host system. It is typically based on an ARM System on Chip (SoC) that integrates graphical and logical control, allowing remote access via a dedicated or shared network. It has multiple
Slide 20: Next Generation BMC with I/O Expander
Next Generation BMC with I/O Expander © ASPEED Technology. Proprietary and Confidential.
Slide 21: Growth Strategy of Cupola360
Growth Strategy of Cupola360 ⚫ Targeting enterprise customers with turnkey solutions and leading technology. ⚫ Creating high-value use cases, such as smart factories and smart cities. ⚫ Collaborating with system integrators to significantly expand global reach. Smart City Smart Factory Immersive Man
Slide 22: 2025 Q1 Outlook
2025 Q1 Outlook © ASPEED Technology. Proprietary and Confidential.
Slide 23: Business Strategy
Business Strategy Cloud & Enterprise Solutions ⚫ Maximizing dollar content per server with ASPEED chips. ⚫ Seizing the opportunities in AI servers. ⚫ Accelerating the cadence of product roadmap. Smart AV ⚫ Reinforcing the market position of AVoIP. ⚫ Accelerating the deployment of Cupola360 in smart
Slide 24: Business Outlook
Business Outlook For 2025 Q1, we currently expect: ⚫ Consolidated Revenue: Around NT$1.70 billion ~ 1.80 billion ⚫ Gross margin: 63.5% ~ 65.0% © ASPEED Technology. Proprietary and Confidential.
Slide 25: Q&A
Q&A © ASPEED Technology. Proprietary and Confidential.
Slide 26: © ASPEED Technology. Proprietary and Confidential.
© ASPEED Technology. Proprietary and Confidential.