Aspeed Technology, Inc. · TPEX:5274
Aspeed Technology — Q4 2024 Earnings Presentation
31 slides from Aspeed Technology's earnings presentation, March 2025
Slide 1: ASPEED Technology Investor Conference
信驊科技2024年第四季法人說明會 ASPEED Technology Investor Conference March 2025 © 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 ● 4Q24 & FY24 Financial Results ● BMC in AI Servers ● Product Portfolio ● 2025 Q2 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: 124 (as of Dec. 2024) ● Product lineup - Cloud & Enterprise (BMC/BIC/PFR): #1 in BMC - Smart AV (Cupola360 & AVoIP SoC): #1 in AV over IP (1G Ethernet) #1 in Commercial 360 camera ● Locations: - Headquarter: Hs
Slide 6: Historical Revenue
Historical Revenue ⚫ The cumulative revenue in 2024 reached NT$6.46 billion, representing a 106.35% growth compared to the cumulative revenue for the same period last year. Million NT$ 7,000 6,460 6,000 5,210 5,000 4,000 3,638 3,064 3,130 3,000 2,484 2,154 1,894 2,000 1,346 856 993 1,000 338 484 591
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: 4Q24 & FY24 Financial Results
4Q24 & FY24 Financial Results © ASPEED Technology. Proprietary and Confidential.
Slide 10: Income Statement of 2024 Q4
Income Statement of 2024 Q4 QoQ (%) YoY (%) In NT$ thousands 4Q24 3Q24 4Q23 4Q24 over 3Q24 4Q24 over 4Q23 Operating Revenue 2,103,713 1,986,435 984,247 5.90% 113.74% Gross Profit 1,376,853 1,276,807 633,213 7.84% 117.44% Gross Margin (%) 65.45% 64.28% 64.33% +1.17ppts +1.12ppts Operating Expenses 37
Slide 11: Income Statement of FY2024
Income Statement of FY2024 In NT$ thousands FY24 FY23 FY24 over FY23 Operating Revenue 6,459,666 3,130,395 106.35% Gross Profit 4,153,798 2,007,918 106.87% Gross Margin (%) 64.30% 64.14% +0.16ppts Operating Expenses 1,235,411 928,310 33.08% Operating Profit 2,918,387 1,079,608 170.32% Operating Marg
Slide 12: Consolidated Revenue
Consolidated Revenue Unit : NTD 1,000 2,500,000 66% 2,000,000 65% 1,500,000 64% 1,000,000 63% 500,000 - 62% 4Q23 1Q24 2Q24 3Q24 4Q24 Revenue Gross Margin 4Q23 1Q24 2Q24 3Q24 4Q24 QoQ YoY Revenue 984,247 1,013,473 1,356,045 1,986,435 2,103,713 5.90% 113.74% Gross Margin 64.33% 63.24% 63.36% 64.28% 65
Slide 13: Operating Profit
Operating Profit Unit : NTD 1,000 1,200,000 60% 1,000,000 50% 800,000 40% 600,000 30% 400,000 20% 200,000 10% - 0% 4Q23 1Q24 2Q24 3Q24 4Q24 Operating Profit Operating Margin (%) 4Q23 1Q24 2Q24 3Q24 4Q24 QoQ YoY Operating Profit 392,015 386,426 580,153 951,456 1,000,352 5.14% 155.18% Operating Margin
Slide 14: Operating Expenses
Operating Expenses Unit : NTD 1,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 - 4Q23 1Q24 2Q24 3Q24 4Q24 R&D Admin Sales 4Q23 1Q24 2Q24 3Q24 4Q24 QoQ YoY R&D 168,378 171,554 183,548 205,974 267,482 29.86% 58.86% Admin 50,962 59,731 68,944 81,735 76,073 -6.93% 49.27% Sales 21,858
Slide 15: Net Income
Net Income Unit : NTD 1,000 1,000,000 50% 900,000 45% 800,000 40% 700,000 35% 600,000 30% 500,000 25% 400,000 20% 300,000 15% 200,000 10% 100,000 5% - 0% 4Q23 1Q24 2Q24 3Q24 4Q24 Net Income Net Profit Margin (%) 4Q23 1Q24 2Q24 3Q24 4Q24 QoQ YoY Net Income 309,694 391,350 507,796 729,320 942,842 29.2
Slide 16: Effective Tax Rate
Effective Tax Rate Unit : NTD 1,000 250,000 25% 200,000 20% 150,000 15% 100,000 10% 50,000 5% - 0% 4Q23 1Q24 2Q24 3Q24 4Q24 Tax Effective Tax Rate (%) 4Q23 1Q24 2Q24 3Q24 4Q24 QoQ YoY Tax 32,954 76,868 125,804 182,203 211,125 15.87% 540.67% Effective Tax Rate (%) 9.62% 16.42% 19.86% 19.99% 18.30% -1
Slide 17: Earnings Per Share
Earnings Per Share Unit : NTD 25 20 15 10 5 - 4Q23 1Q24 2Q24 3Q24 4Q24 Quarterly 4Q23 1Q24 2Q24 3Q24 4Q24 QoQ YoY EPS 8.20 10.36 13.44 19.30 24.95 29.27% 204.27% © ASPEED Technology. Proprietary and Confidential.
Slide 18: BMC in AI Servers
BMC in AI Servers © ASPEED Technology. Proprietary and Confidential.
Slide 19: BMC Content in GPU AI Servers
BMC Content in GPU AI Servers There are 71 BMCs in GB300 NVL72 ⚫ 54 BMCs in 18 compute trays Power ⚫ 9 BMCs in 9 switch trays shelves ⚫ 6 BMCs in 6 power shelves ⚫ 2 BMCs in 2 out-of-band switches Compute Simplified layout of a compute tray trays Switch trays Power shelves © ASPEED Technology. Propr
Slide 20: BMC Content in AI ASIC Servers
BMC Content in AI ASIC Servers There are 22 BMCs in AI ASIC server Power OOB switches ⚫ 2 BMCs in 2 CPU trays shelves ⚫ 16 BMCs in 16 compute trays ⚫ 2 BMCs in 2 power shelves ⚫ 2 BMCs in 2 out-of-band switches Compute trays CPU trays Power shelves © ASPEED Technology. Proprietary and Confidential.
Slide 21: Capex Efficiency
Capex Efficiency Thousand USD 120 100 80 60 100 40 20 42 20 13 0 General Server H100 Server GB300 NVL72 AI ASIC Server Capex Efficiency Note: 1. Capex efficiency is defined as the amount of server spend that will contribute to one BMC demand. 2. The lower capex efficiency, the better for ASPEED. 3.
Slide 22: Product Portfolio
Product Portfolio © ASPEED Technology. Proprietary and Confidential.
Slide 23: 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 24: 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 25: Next Generation BMC with I/O Expander
Next Generation BMC with I/O Expander © ASPEED Technology. Proprietary and Confidential.
Slide 26: 2025 Q2 Outlook
2025 Q2 Outlook © ASPEED Technology. Proprietary and Confidential.
Slide 27: Business Strategy
Business Strategy Cloud & Enterprise Solutions ⚫ Completing product portfolio with greater value-add. ⚫ Seizing the opportunity from various modern server architecture. ⚫ Accelerating the cadence of product roadmap. Smart AV ⚫ Reinforcing the market position of AVoIP. ⚫ Accelerating the deployment o
Slide 28: Growth Strategy of Cupola360
Growth Strategy of Cupola360 ⚫ Targeting enterprise customers with turnkey solutions and leading technology. ⚫ Creating high-value use cases, such as 360 Smart Patrol, Safety 360 Smart Patrol Safety and Security and Security, and People Counting modules. ⚫ Collaborating with system integrators and s
Slide 29: Business Outlook
Business Outlook For 2025 Q2, we currently expect: ⚫ Consolidated Revenue: Around NT$1.70 billion ~ 1.80 billion ⚫ Gross margin: 65.0% ~ 66.5% © ASPEED Technology. Proprietary and Confidential.
Slide 30: Q&A
Q&A © ASPEED Technology. Proprietary and Confidential.
Slide 31: © ASPEED Technology. Proprietary and Confidential.
© ASPEED Technology. Proprietary and Confidential.