Aspeed Technology, Inc. · TPEX:5274
Aspeed Technology — Q1 2026 Earnings Presentation
36 slides from Aspeed Technology's earnings presentation, May 2026
Slide 1: ASPEED Technology Investor Conference
ASPEED Technology Investor Conference May 2026 © 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 ● 2026 Q1 Financial Results ● Product Portfolio ● 2026 Q3 Outlook ● Enterprise Value Enhancement ● Cupola360 Business Overview ● 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: 143 before Cupola360 spin-off 99 after Cupola360 spin-off (as of December 2025) ● Product lineup - Cloud & Enterprise (BMC/BIC/PFR): #1 in BMC - Smart AV (Cupola360 & AVoIP SoC): #1 in AV over IP (1G Ethernet)
Slide 6: Historical Revenue
Historical Revenue 2026 Q1 performance highlights: • Revenue: NT$3,146.76 million • YoY growth: 52.38% Million NT$ 10,000 9,085 9,000 8,000 7,000 6,460 6,000 5,210 5,000 4,000 3,638 3,064 3,130 3,147 3,000 2,484 2,154 1,894 2,000 1,346 856 993 1,000 252 285 338 484 591 9 49 113 176 0 © ASPEED Techno
Slide 7: EPS & Cash Payout Ratio
EPS & Cash Payout Ratio ⚫ Earnings Per Share keeps growing and the EPS for 2025 is 103.92 while the Cash Dividend Payout Ratio is 77.0% for 2025. EPS Cash Payout Ratio 120 100% 103.92 90% 100 80% 80 68.04 70% 60 55.72 60% 38.3 50% 40 29.38 26.66 24.39 40% 20.2 20 14.07 15.7 10.72 10.79 30% 7.4 0 20%
Slide 8: Milestones
Milestones ASPEED founded • ISO 9001:2000 certified • Listed on the Taiwan OTC • Joined OCP Established Kaohsiung R&D stock market Center • Introduced 2nd gen BMC • Launched Cupola360 Finalized spin-off of Reality SoC AST2100/2050/1100 • Listed on Taipei Exchange Processor Remote Management (RRM) •
Slide 9: Awards & Recognitions
Awards & Recognitions 2014 - 2023 2020 2022 2024 2025 Forbes Asia’s Best Under A Lenovo Technology COO Mr. CJ Hsieh received Golden Root Award by the GSA “Best Financially Billion For 10 consecutive Innovation Award SEMI Industry Contribution Taiwan Industrial Managed Semiconductor years Award and I
Slide 10: 2026 Q1 Financial Results
2026 Q1 Financial Results © ASPEED Technology. Proprietary and Confidential.
Slide 11: Income Statement of 1Q26
Income Statement of 1Q26 QoQ YoY 1Q256 1Q26 In NT$ thousands 1Q26 4Q25 1Q25 over over 4Q25 1Q25 Operating Revenue 3,146,757 2,443,126 2,065,118 28.80% 52.38% Gross Profit 2,177,017 1,672,352 1,367,763 30.18% 59.17% Gross Margin (%) 69.18% 68.45% 66.23% +0.73ppts +2.95ppts Operating Expenses 517,975
Slide 12: Consolidated Revenue
Consolidated Revenue Unit : NTD 1,000 3,500,000 70% 3,000,000 69% 2,500,000 68% 2,000,000 67% 1,500,000 66% 1,000,000 65% 500,000 64% 1Q25 2Q25 3Q25 4Q25 1Q26 Revenue Gross Margin 1Q25 2Q25 3Q25 4Q25 1Q26 QoQ YoY Revenue 2,065,118 2,246,547 2,330,084 2,443,126 3,146,757 28.80% 52.38% Gross Margin 66
Slide 13: Operating Profit
Operating Profit Unit : NTD 1,000 1,800,000 53% 1,600,000 1,400,000 52% 1,200,000 1,000,000 51% 800,000 600,000 50% 400,000 200,000 49% 1Q25 2Q25 3Q25 4Q25 1Q26 Operating Profit Operating Margin (%) 1Q25 2Q25 3Q25 4Q25 1Q26 QoQ YoY Operating Profit 1,027,063 1,184,084 1,231,467 1,217,729 1,659,042 3
Slide 14: Operating Expenses
Operating Expenses Unit : NTD 1,000 600,000 500,000 400,000 300,000 200,000 100,000 - 1Q25 2Q25 3Q25 4Q25 1Q26 R&D Admin Sales 1Q25 2Q25 3Q25 4Q25 1Q26 QoQ YoY R&D 244,021 223,223 288,906 285,843 350,307 22.55% 43.56% Admin 72,548 85,170 77,395 113,677 118,241 4.01% 62.98% Sales 24,131 32,392 15,953
Slide 15: Net Income
Net Income Unit : NTD 1,000 1,500,000 60% 1,200,000 50% 900,000 40% 600,000 30% 300,000 20% - 10% 1Q25 2Q25 3Q25 4Q25 1Q26 Net Income Net Profit Margin (%) 1Q25 2Q25 3Q25 4Q25 1Q26 QoQ YoY Net Income 886,770 629,097 1,214,205 1,197,735 1,414,275 18.08% 59.49% Net Profit Margin (%) 42.94% 28.00% 52.1
Slide 16: Effective Tax Rate
Effective Tax Rate Unit : NTD 1,000 400,000 21% 350,000 20% 300,000 19% 250,000 18% 200,000 17% 150,000 16% 100,000 15% 1Q25 2Q25 3Q25 4Q25 1Q26 Tax Effective Tax Rate (%) 1Q25 2Q25 3Q25 4Q25 1Q26 QoQ YoY Tax 218,330 157,670 292,121 259,491 353,850 36.36% 62.07% Effective Tax Rate (%) 19.76% 20.04%
Slide 17: Earnings Per Share
Earnings Per Share Unit : NTD 40 35 30 25 20 15 10 5 - 1Q25 2Q25 3Q25 4Q25 1Q26 Quarterly 1Q25 2Q25 3Q25 4Q25 1Q26 QoQ YoY EPS 23.46 16.65 32.12 31.69 37.41 18.05% 59.46% © ASPEED Technology. Proprietary and Confidential.
Slide 18: Dividend Policy
Dividend Policy 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Cash Dividend (F) 5.5 7 8 12 15 18 22 26 35 45 20 52 80 Stock Dividend (F) 0 2 0 0 0 0 0 0 0 0 0 0 0 Dividend from Capital Reserves 1 0 0 0 0 0 0 0 1 0 0 0 1 Total Dividend 6.5 9 8 12 15 18 22 26 36 45 20 52 81 EPS 7.4
Slide 19: Product Portfolio
Product Portfolio © ASPEED Technology. Proprietary and Confidential.
Slide 20: Strategic Edges in Server Evolution
Strategic Edges in Server Evolution BMC: Setting the Standard SMC*: Multi-Card Architectures ✓ Co-designed with hyperscalers ✓ Empowering extreme scalability with and chip makers efficient 2-level management PRoT: Security for Platform I/O Expander: Seamless Integration ✓ Protection, detection, reco
Slide 21: Ultimate Flexibility: Embedding FPGA into SoC
Ultimate Flexibility: Embedding FPGA into SoC Partnership: Collaborating with FPGA leader Lattice. Synergy: Embedding FPGA logic directly into AST1840 SoC Flexibility: Delivering instant-on-programmable control for evolving server needs © ASPEED Technology. Proprietary and Confidential.
Slide 22: Evolving Server Architecture (Single Node)
Evolving Server Architecture (Single Node) Server HPM Board LTPI BMC FPGA CPU Server HPM Board LTPI AST2700 AST1700 CPLD* CPU or Server HPM Board LTPI AST2700 AST1840 CPU eFPGA Note: CPLD = small FPGA © ASPEED Technology. Proprietary and Confidential.
Slide 23: Simplified Design with No FPGA
Simplified Design with No FPGA CPU Card CPU Card AST1840 CPU Card CPU eFPGA CPU Card CPU Card AST1840 CPU Card CPU eFPGA CPU Card BMC CPU Card AST1840 CPU Card CPU eFPGA CPU Card CPU Card AST1840 CPU Card CPU eFPGA © ASPEED Technology. Proprietary and Confidential.
Slide 24: No Streaming Boot with Flash
No Streaming Boot with Flash Management Base Board CPU Board AST1840 Caliptra CPU eFPGA BMC Caliptra Flash © ASPEED Technology. Proprietary and Confidential.
Slide 25: Streaming Boot (No Flash)
Streaming Boot (No Flash) Management Base Board CPU Board AST1840 Caliptra CPU eFPGA BMC Caliptra © ASPEED Technology. Proprietary and Confidential.
Slide 26: Product Portfolio
Product Portfolio BMC AST2500, AST2600, AST2700, AST2750 SMC* AST1030, AST1040 SMC + eFPGA AST1840 PRoT AST1060, AST1080 I/O Expander AST1700 Note: Satellite Management Controller (SMC) is also known as Auxiliary Management Controller (AMC) or Bridge IC © ASPEED Technology. Proprietary and Confident
Slide 27: Product Roadmap
Product Roadmap BMC AST2700 AST2700 AST2700 Ramp-up Design-in Phase Production-ready AST2755 Design-in Phase SMC AST1040 AST1040 AST1040 Design-in Phase Production-ready Ramp-up SMC + eFPGA AST1840 Production-ready PRoT AST1060 AST1080 AST1080 AST1080 Ramp-up Design-in Phase Production-ready Ramp-up
Slide 28: 2026 Q3 Outlook
2026 Q3 Outlook © ASPEED Technology. Proprietary and Confidential.
Slide 29: 2026 Q3 Business Outlook
2026 Q3 Business Outlook Based on the exchange rate assumption of 1 US dollar to 31.6 NT dollars, management expects: ⚫ Consolidated Revenue: Around NT$4.1 billion ~ 4.3 billion ⚫ Gross margin: 67% ~ 68% © ASPEED Technology. Proprietary and Confidential.
Slide 30: Enterprise Value Enhancement
Enterprise Value Enhancement © ASPEED Technology. Proprietary and Confidential.
Slide 31: Business Strategy
Business Strategy ASPEED enhances enterprise value by ⚫ Revenue Growth: Maximize dollar content per server board; ⚫ High Margins: Leverage leading product roadmap model; ⚫ Focus: Reality Remote Management (“RRM”) business spin-off. © ASPEED Technology. Proprietary and Confidential.
Slide 32: Cupola360 Business Overview
Cupola360 Business Overview © ASPEED Technology. Proprietary and Confidential.
Slide 33: RRM Product Portfolio
RRM Product Portfolio 360 Camera RX1000P, RX1000F, RX2000 Camera Module RX1050P Image Processor AST1220, AST1230, AST1240 AV Matrix：AST1520, AST1530, AST1540 ProAV AV Extender: AST1620, AST1630 © 2026 Cupola360 Inc. All rights reserved.
Slide 34: RRM Platform
RRM Platform Reality Remote Management (RRM) flexibly integrates with: ⚫ 720 °Vision (Eyes of AI)； ⚫ Remote IoT (Hands)； ⚫ Remote Navigator or AMR (Feet)； ⚫ Visual AI (Brain)； ⚫ Real-time OSD (On-Screen Display)； ⚫ API integration toolkits. © 2026 Cupola360 Inc. All rights reserved.
Slide 35: Q&A
Q&A © ASPEED Technology. Proprietary and Confidential.
Slide 36: © ASPEED Technology. Proprietary and Confidential.
© ASPEED Technology. Proprietary and Confidential.