Slide 1: 2023第二季法人說明會
2023第二季法人說明會 August 9th, 2023 Embedded Wisely, Embedded Widely Embedded Wisely, Embedded Widely
Slide 2: 智慧財產權聲明
智慧財產權聲明 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 informati
Slide 3: 投資安全聲明
投資安全聲明 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 variables, man
Slide 4: Contents
Contents 1 營運回顧 2 未來展望 Security’s Forefront: Confidential 3 Computing 4 Q&A 5 附錄 Embedded EmbeddedWisely, Wisely,Embedded EmbeddedWidely Widely 4
Slide 5: 營運回顧
營運回顧 Embedded Wisely, Embedded Widely 5
Slide 6: 第二季綜合損益表
第二季綜合損益表 (thousands of NT dollars) Q2 2023 Q1 2023 QoQ Q2 2022 YoY Revenue 696,625 667,751 4.3% 796,292 -12.5% Gross Margin 100% 100% - 100% - Operating Expenses 327,865 300,657 9.0% 336,197 -2.5% Operating Income 368,760 367,094 0.5% 460,095 -19.9% Operating Margin 52.9% 55.0% -2.1ppts 57.8% -4.9pp
Slide 7: 第二季營收貢獻分析
第二季營收貢獻分析 23Q2 in comparison to 23Q1 Revenue Breakdown $600,000 23Q1 23Q2 Royalty 64.2% $400,000 $200,000 $0 Licensing Licensing Royalty 35.8% Revenue Change Change NT$ Thousands Q2 2023 Q1 2023 Q2 2022 (QoQ) (YoY) Licensing 249,711 143,049 74.6% 200,729 24.4% Royalty 446,914 524,702 -14.8% 595,563
Slide 8: 第二季營收分析 – 產品線
第二季營收分析 – 產品線 Q2 2023 Total Revenue Licensing Revenue Royalty Revenue Technology % of Q2 Change Change % of Q2 Change Change % of Q2 Change Change Revenue (QoQ) (YoY) Licensing (QoQ) (YoY) Royalty (QoQ) (YoY) NeoBit 27.7% 2.7% -31.8% 22.7% 101.0% 27.6% 30.5% -14.6% -42.8% NeoFuse 59.6% -2.8% -3.5% 4
Slide 9: 第二季營收分析 – Wafer Size
第二季營收分析 – Wafer Size Q2 Royalty Breakdown • 8-inch wafers contributed 44.5% of royalty, down 19.2% sequentially and down 34.5% yearly. 12-inch 55.5% • 12-inch wafers contributed 55.5% of royalty, down 10.9% QoQ and down 15% YoY. 8-inch 44.5% Q2 2023 Wafer Size % of Q2 Change (QoQ) Change (YoY) 8-Inc
Slide 10: 未來展望
未來展望 Embedded Wisely, Embedded Widely 10
Slide 11: 未來展望
未來展望 Licensing & Royalty: New IP Technology & Business Development: ◼ We expect the licensing revenue to ◼ The demand for 5nm design licensing increase significantly compared to H1. is very strong, with customer adoption ◼ As new applications gradually enter in Autonomous Driving, Data Centers the m
Slide 12: Security's Forefront: Confidential Computing
Security’s Forefront: Confidential Computing Embedded Wisely, Embedded Widely 12
Slide 13: What is Confidential Computing?
What is Confidential Computing? . ◼ There is a need for Security is for Now Secured by Confidential protecting: Computing! ◼ Data at Rest ◼ Data in Transit ◼ Data in Use ◼ Data at Rest is Data in Storage ◼ Data in Transit is Data in Communication ◼ Data in Use is Data and Code undergoing processing
Slide 14: Confidential Computing Illustrated
Confidential Computing Illustrated . Non-Secure Secure ◼ Confidential Computing: the (Trust Zone or TEE) protection of data in use by performing computation in a App App App App hardware-based Trusted Execution Environment." OS OS OS OS ◼ For Example: ◼ In CPU, there is a secure zone and non-secure
Slide 15: Confidential Computing in Nvidia's GPU for AI
Confidential Computing in Nvidia’s GPU for AI . CPU Another example in GPU: ◼ The CPU and GPU co- TEE 1 TEE 2 TEE 3 establishes a TEE to protect Confidential VM 1 Confidential VM 2 Confidential VM 3 data/code confidentiality and integrity: NVDA Driver NVDA Driver NVDA Driver ◼ Between authentication
Slide 16: PUF-based HRoT for TEE
PUF-based HRoT for TEE . ◼ In a Trusted Executive Environment (TEE), the Hardware Root of Trust (HRoT) provide hardware security functions to protect the integrity and confidentiality of data and code. OTP ✓ Secure Key Storage Key Storage ✓ Ultra Secure Key Storage Key PUF + OTP ✓ High Speed and Hig
Slide 17: PUF-based Key Storage vs. Traditional
PUF-based Key Storage vs. Traditional . ◼ Over time, the security level of key storage has improved from eFuse, through the Anti-Fuse, and now to the most secure method, PUF-based OTP. PUF + OTP (PUF-based OTP) High Anti-Fuse OTP (NeoFuse) Security Level Conventional eFuse Invisible + Scrambled Invi
Slide 18: PUF-based Key Generation vs. Conventional
PUF-based Key Generation vs. Conventional . ◼ PUF-based True Random Number Generator (TRNG), otherwise known as key-generation is high-speed and consumes less power due to high entropy of the generated bit, allowing it to establish better security for applications. Specs PUF-based TRNG Digital TRNG
Slide 19: Summary
Summary . ◼ Confidential Computing is a must in the GPU and CPU applications because it provides the Integrity and Confidentiality of data and code ◼ Compared to Conventional Root of Trust, eMemory’s PUF-based Hardware Root of Trust provide the best quality unique identities (UID), secure key storag
Slide 20: Q&A
Q&A Embedded Wisely, Embedded Widely 20
Slide 21: 附錄
附錄 Embedded Wisely, Embedded Widely 21
Slide 22: 公司介紹
公司介紹 ▪ eMemory is the global leader of embedded non-volatile memory IP Revenue Trend (Unit: NT$ 1,000) 3,500,000 Royalty License/Design Revenue 3,000,000 2,500,000 2,000,000 1,500,000 1,000,000 500,000 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Founde
Slide 23: 每季營收
每季營收 ▪ 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. (Unit: NT$ 1,000) 2018 2019 2020 2021 2022 2023 $600,000 519,769
Slide 24: 每季新Tape-out (NTO)
每季新Tape-out (NTO) 2018 2019 2020 2021 2022 2023 (Unit: IP Numbers) 200 184 180 149 154 150 160 143 150 138 143 137 147 134 136 140 120 111 107 109 109 103 100 97 100 91 89 86 80 60 40 20 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Embedded Wisely, Embedded Widely 24
Slide 25: 全球客戶
全球客戶 ▪ Our IP solutions are adopted by leading foundries, IDMs and fabless worldwide Country Foundry IDM Fabless Taiwan 4 1 323 China 9 0 1105 Korea 4 0 96 Japan 4 7 80 North 1 1 365 America Europe 2 1 211 Others 1 0 103 Embedded Wisely, Embedded Widely 25
Slide 26: 營運模式
營運模式 ▪ 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 1-4 years 1-4 years License Fee Design License Fee Royalty Foundries Proces
Slide 27: 技術授權合約
技術授權合約 Number of Licenses Year 2016 2017 2018 2019 2020 2021 2022 2023 H1 License 43 20 26 18 28 32 29 19 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 there are no particul
Slide 28: 建構中的技術製程平台
建構中的技術製程平台 ▪ New technologies are being developed for 143 platforms by Q2 2023. ▪ 10 licensing contracts were signed. 0.11~ 0.15~ Technology 3nm 4/5nm 6/7nm 12/16nm 22/28nm 40nm 55/65nm 80/90nm >0.25um 0.13um 0.18um NeoBit - - - - - - 2 1 14 12 1 NeoFuse 3 2 1 6 13 6 19 6 3 3 - PUF-Based - 2 - 1 1 -
Slide 29: 建構中的技術製程平台
建構中的技術製程平台 ▪ Developments by process nodes 12" Fabs Production Development IP Type Process Type 3nm 0 3 OTP FF, FFP 4/5nm 2 4 OTP, PUF FF, FF-Auto 6/7nm 4 1 OTP, PUF FF, FF+ 12/16nm 9 7 OTP, PUF FF, FF+, FFC. FFC+, LPP, DRAM, HV LP/ULP/ULL, HPC/HPC+, HV-OLED, DRAM, SOI, ReRAM, 22/28nm 46 16 OTP, PUF
Slide 30: For more information, please visit
Embedded Wisely, Embedded Widely For more information, please visit: eMemory Website: https://www.ememory.com.tw/ PUFsecurity Website: https://www.pufsecurity.com/ Embedded Wisely, Embedded Widely 30