Slide 1: 2025第三季法人說明會
2025第三季法人說明會 Nov 14th, 2025 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: 內容
內容 1 Review of Operations 2 Future Outlook 3 PUF Technology on National Security 4 Q&A 5 Appendix Embedded EmbeddedWisely, Wisely,Embedded EmbeddedWidely Widely 4
Slide 5: 營運回顧
營運回顧 Embedded Wisely, Embedded Widely 5
Slide 6: 第三季綜合損益表
第三季綜合損益表 (thousands of NT dollars) Q1-Q3 Q1-Q3 Q3 2025 Q2 2025 QoQ Q3 2024 YoY YoY 2025 2024 Revenue 952,422 936,535 1.7% 899,477 5.9% 2,800,691 2,595,251 7.9% Gross Margin 100% 100% - 100% - 100% 100% - Operating Expenses 404,068 390,644 3.4% 394,561 2.4% 1,184,099 1,174,533 0.8% Operating Income 5
Slide 7: 第三季營收分析 – 授權金&權利金
第三季營收分析 – 授權金&權利金 (NT$ K) 25Q3 in comparison to 25Q2 Revenue Breakdown $1,000,000 25Q2 25Q3 Royalty 63.6% $500,000 $0 Licensing Licensing Royalty 36.4% Q1-Q3 Q1-Q3 NT$ Thousands Q3 2025 Q2 2025 QoQ Q3 2024 YoY YoY 2025 2024 Licensing 347,011 317,976 9.1% 290,639 19.4% 905,204 818,679 10.6% Royalty 6
Slide 8: 第三季營收分析 – 產品線
第三季營收分析 – 產品線 (thousands of NT dollars) Q3 2025 Total Revenue Licensing Revenue Royalty Revenue Technology % of Q3 % of Q3 % of Q3 QoQ YoY QoQ YoY QoQ YoY Revenue Licensing Royalty NeoBit 24.5% 4.6% -6.1% 23.2% 34.2% -11.3% 25.3% -6.2% -3.1% NeoFuse 61.0% 3.4% 11.2% 42.8% 18.4% 70.9% 71.4% -0.8% -0.
Slide 9: 第三季營收分析 – 晶圓尺寸
第三季營收分析 – 晶圓尺寸 Q3 Royalty Breakdown • 8-inch wafers contributed 40.6% of royalty, down 0.6% 12-inch sequentially and down 1.4% yearly. 59.4% • 12-inch wafers contributed 59.4% of royalty, down 3.1% sequentially but flat compared to last year. 8-inch 40.6% Q3 2025 Q1-Q3 2025 Wafer Size % of Royalty Q
Slide 10: 未來展望
未來展望 Embedded Wisely, Embedded Widely 10
Slide 11: 未來展望: Licensing & Royalty
未來展望 Licensing & Royalty: ◼ Licensing growth will be driven by: − 10 years contract including 18 3nm tape outs for US defense applications and 3nm CPU for AI server will drive strong PUF security license growth. − Strong licenses for embedded ReRAM and NeoFlash technologies that replace external mem
Slide 12: 未來展望: New IP Technology & Business Development
未來展望 New IP Technology & Business Development: ◼ New IP Technologies: − OTP: Continuing joint development with TSMC on 2nm technologies and IPs. − ReRAM: Co-developing FinFET technologies and IPs with Korea’s largest company. − NeoFlash: Collaborating with multiple foundries to develop BCD process t
Slide 13: Embedded Wisely, Embedded Widely
Embedded Wisely, Embedded Widely 13
Slide 14: PUF Technology on National Security
PUF Technology on National Security 14
Slide 15: PUF: The Foundation of National Security
PUF: The Foundation of National Security • Modern defense systems rely on global multi-tier supply chains — a single counterfeit or tampered chip can compromise a weapon system or entire network create a unique and unforgeable hardware identity for every chip provide a hardware root-of-trust, enabli
Slide 16: What Applications in Defense Are Using PUF?
What Applications in Defense Are Using PUF? Supply Chain Assurance (verify origin and traceability) Supply Chain • Anti-Counterfeiting for Military Electronics Level • Supply Chain Security System-Level Security (ensure trusted operation) System Level • Secure Boot & Firmware Integrity • IoT & Senso
Slide 17: Applying PUF to Supply Chain Management for Defense
Applying PUF to Supply Chain Management for Defense Use PUF-based ID to Continuous attestation authenticate each module via PUF-based HSM Detect counterfeits or Verify runtime integrity altered components and firmware authenticity Design Assembly Logistics Operation & Fabrication & Testing & Deploym
Slide 18: NeoPUF: Excels in National Defense
NeoPUF: Excels in National Defense • Deliver proven reliability and radiation strength — securing every chip, every mission, every supply chain Reliable in Any Condition Radiation-Resistant 01 Stay stable and accurate even in extreme heat, 02 Unlike SRAM, its gate-oxide quantum tunneling mechanism c
Slide 19: Q&A
Q&A Embedded Wisely, Embedded Widely 19
Slide 20: Appendix
Appendix Embedded Wisely, Embedded Widely 20
Slide 21: Company Overview
Company Overview ▪ eMemory is the global leader of embedded non-volatile memory IP Revenue Trend (Unit: NT$ 1,000) 4,000,000 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
Slide 22: Quarterly Revenue Pattern
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. (Unit: NT$ 1,000) 2020 2021 2022 2023 2024
Slide 23: Quarterly Number of New Tape-outs
Quarterly Number of New Tape-outs 2018 2019 2020 2021 2022 2023 2024 2025 (Unit: IP Numbers) 200 184 179 181 173 180 171 154 160 160 149 143150 143 150 147 149 154 134 136 138 137 139 137 140 120 111 107 109 109103 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
Slide 24: Worldwide Customers
Worldwide Customers ▪ Our IP solutions are adopted by leading foundries, IDMs and fabless worldwide Country Foundry IDM Fabless Taiwan 4 1 350 China 12 0 1361 max_logo_header_25yrs Korea 4 0 103 Japan 1 9 88 North 2 2 368 America Europe 2 2 237 Others 1 0 127 Embedded Wisely, Embedded Widely 24
Slide 25: Business Model
Business Model ▪ Recurring royalty is the backbone of our business License Fee: ≈30% ▪ Around 70% revenue are from royalty based on wafer production Royalty: ≈70% ▪ More adoption = more volume shipment ▪ More advanced node wafers = higher ASP per wafer Revenue Breakdown 1-4 years 1-4 years License F
Slide 26: Technology Licenses
Technology Licenses Number of Licenses 2025 Year 2016 2017 2018 2019 2020 2021 2022 2023 2024 Q1-Q3 License 43 20 26 18 28 32 29 48 41 56 Note: Terms (including number of process platforms and licensing fees) for each technology license are set contractually. Payments are made according to set miles
Slide 27: Technology Development
Technology Development ▪ Developments by process nodes 12" Fabs Production Development IP Type Process Type 2nm 0 4 OTP, PUF Nanosheet 3nm 2 4 OTP, PUF FF, FFP 4/5nm 6 2 OTP, PUF FF, FF-Auto 6/7nm 4 2 OTP, PUF FF, FF+ 12/16/17nm 16 11 OTP, PUF, MTP FF, FF+, FFC. FFC+, LPP, DRAM, HV LP/ULP/ULL, HPC/H
Slide 28: 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 28