Andes Technology Corp. · TWSE:6533

Andes Technology — Q4 2020 Earnings Presentation

58 slides from Andes Technology's earnings presentation, Mar 5, 2021

  1. Slide 1: Andes Technology investor conference 2021/03/05

    Y BATRA 7 APR GS) RS 2021/03/05 TECHNOLOGY

  2. Slide 2: 投資安全聲明

    投資安全聲明 除簡報內所提供之歷史信息外，簡報事項係屬預測性陳述，受 到風險及不確定性因素影響，可能造成實際結果與陳述內容發 生不符，這些不確定性因素包括但不限於：天氣、競爭性產品 及其定價的影響、產業及市場對半導體產品之供給及需求移轉 、新產品大量量產之能力、技術急遽演進、半導體產業景氣以 及整體經濟環境之變化。 2

  3. Slide 3: 簡報大綱

    簡報大綱 01 公司簡介 02 營運成果 03 產品應用 04 新產品及生態系統 05 總結 3

  4. Slide 4: 公司簡介

    公司簡介 http://www.andestech.com

  5. Slide 5: 晶心亮點

    晶心亮點 • 2005年3月設立於台灣新竹科學園區。 • 根基穩健的高科技上市公司。 • 員工人數達220人；80%為工程師。 • 獲得TSMC 2015年新的 IP OIP Award 。 • 晉升為RISC-V國際聯盟(前身為RISC-V基金會) 首席會員。 (2020) • 獲得Al Global Media頒發「2020年最傑出嵌入式處理器IP供應商」。 • 向量處理器核心NX27V獲頒「新竹科學園區優良廠商創新產品獎」 (2020) 晶心任務 • 創新架構高效能/低功耗嵌入式處理器。 晶心利基 • 智能及環保之電子設備 • 雲端應用,人工智慧及物聯網

  6. Slide 6: 重要里程碑

    重要里程碑  200+ commercial licensees  Geographically distributed in Taiwan, China, Korea, Japan, Europe, and USA Andes-  500+ license agreements signed Embedded SoC  AndeSight™ IDE:  19,000+ installations IP / EDA Design Service / Foundries  Eco-system:  160+ partners Development Environment Misc

  7. Slide 7: 營運成果

    營運成果 http://www.andestech.com

  8. Slide 8: IP 授權合約數穩健成長

    IP 授權合約數穩健成長 180 600 160 500 140 120 400 100 300 80 60 200 40 100 20 0 0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 IP授權合約數 1 2 3 6 12 16 16 24 27 27 31 39 43 141 155 累計IP授權合約數 1 3 6 12 24 40 56 80 107 134 165 204 247 388 543 8

  9. Slide 9: 2020年度營業收入 YoY

    2020年度營業收入 YoY +17.4% (單位:新台幣千元) 700,000 600,000 581,012 494,851 500,000 400,000 300,000 200,000 100,000 - 2019 2020 9

  10. Slide 10: 2020年第四季營業收入

    2020年第四季營業收入 QoQ YoY +156.4% +101.6% (單位:新台幣千元) 300,000 268,585 250,000 200,000 150,000 133,204 104,768 100,000 50,000 - 4Q19 3Q20 4Q20 10

  11. Slide 11: 2020年度前十大客戶之應用分析

    2020年度前十大客戶之應用分析 單位: 新台幣千元 前十大客戶貢獻63%的營收 140,000 120,000 37% 100,000 63% 80,000 60,000 40,000 20,000 - 11

  12. Slide 12: 2020年度權利金收入

    2020年度權利金收入 YoY +48.8% (單位:新台幣千元) 180,000 158,792 160,000 140,000 120,000 106,716 100,000 80,000 60,000 40,000 20,000 - 2019 2020 12

  13. Slide 13: 2020年第四季權利金收入

    2020年第四季權利金收入 QoQ YoY +57.8% +82.7% (單位:新台幣千元) 70,000 60,000 58,353 50,000 40,000 36,969 31,931 30,000 20,000 10,000 - 13 4Q19 3Q20 4Q20

  14. Slide 14: 2020年度權利金應用分析

    2020年度權利金應用分析 單位: 新台幣千元 前十大權利金客戶貢獻比率 89% 80,000 11% 70,000 60,000 89% 50,000 40,000 30,000 20,000 10,000 - 14

  15. Slide 15: 2020年度權利金收入

    2020年度權利金收入 (單位:新台幣千元) (單位:家數) 180,000 45 41 160,000 40 140,000 33 35 120,000 28 30 25 100,000 25 80,000 20 15 15 60,000 15 9 40,000 10 5 20,000 1 2 5 - 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 權利金 445 660 1,285 10,819 12,232 13,320 38,287 74,953 106,716 158,792 客戶數 1 2 5 9 15 15 25 28 33

  16. Slide 16: 2020年第四季營業毛利與毛利率

    2020年第四季營業毛利與毛利率 (單位:新台幣千元) 300,000 100.00% 250,000 80.00% 200,000 60.00% 150,000 40.00% 100,000 20.00% 50,000 - 0.00% 4Q19 3Q20 4Q20 營業毛利 133,094 104,177 268,261 毛利率 99.92% 99.43% 99.88% 16

  17. Slide 17: 2020年度營業毛利與毛利率

    2020年度營業毛利與毛利率 (單位:新台幣千元) About us 600,000 100.00% 580,000 80.00% 560,000 540,000 60.00% 520,000 40.00% 500,000 480,000 20.00% 460,000 440,000 0.00% 2019 2020 營業毛利 494,031 579,829 毛利率 99.83% 99.80% 17

  18. Slide 18: 2020年第四季營業費用

    2020年第四季營業費用 YoY QoQ +7.8% +21.3 % (單位:新台幣千元) 160,000 140,000 120,000 56,455 100,000 61,600 57,778 研發費用 80,000 22,904 管理費用 60,000 推銷費用 27,644 21,553 40,000 63,078 20,000 38,112 42,904 - 4Q19 3Q20 4Q20 18

  19. Slide 19: 2020年度營業費用

    2020年度營業費用 YoY +14% (單位:新台幣千元) 600,000 500,000 237,084 400,000 227,734 研發費用 300,000 管理費用 110,313 推銷費用 200,000 73,032 100,000 174,686 194,810 - 2019 2020 19

  20. Slide 20: 2020年第四季營業利益(損失)

    2020年第四季營業利益(損失) QoQ YoY - +703.9% (單位:新台幣千元) 140,000 125,824 120,000 100,000 80,000 60,000 40,000 20,000 15,651 - 4Q19 3Q20 4Q20 -20,000 -40,000 (27,971) 20

  21. Slide 21: 2020年度營業利益

    2020年度營業利益 YoY +102.5% (單位:新台幣千元) 40,000 37,622 35,000 30,000 25,000 20,000 18,579 15,000 10,000 5,000 - 2019 2020 21

  22. Slide 22: 2020年第四季營業利益率

    2020年第四季營業利益率 QoQ YoY +73.5 PT +35.1 PT (%) 60.00% 46.85% 50.00% 40.00% 30.00% 20.00% 11.75% 10.00% 0.00% 4Q19 3Q20 4Q20 -10.00% -20.00% -30.00% -26.70% 22 -40.00%

  23. Slide 23: 2020年第四季合併淨利(淨損)

    2020年第四季合併淨利(淨損) YoY QoQ +1061.2% - (單位:新台幣千元) 140,000 120,018 120,000 100,000 80,000 60,000 40,000 20,000 10,336 - 4Q19 3Q20 4Q20 -20,000 (29,407) -40,000 23

  24. Slide 24: 2020年度合併淨利(淨損)

    2020年度合併淨利(淨損) YoY +119.3% (單位:新台幣千元) 40,000 35,142 35,000 30,000 25,000 20,000 16,023 15,000 10,000 5,000 - 24 2019 2020

  25. Slide 25: 2020年第四季合併淨利率(淨損率)

    2020年第四季合併淨利率(淨損率) QoQ YoY +72.76PT +36.93PT (%) 50.00% 44.69% 40.00% 30.00% 20.00% 10.00% 7.76% 0.00% 4Q19 3Q20 4Q20 -10.00% -20.00% -30.00% -28.07% -40.00% 25

  26. Slide 26: 2020年第四季每股盈餘

    2020年第四季每股盈餘 QoQ YoY +3.50 $ +2.56 $ (單位:新台幣元) 3.00 2.81 2.50 2.00 1.50 1.00 0.50 0.25 - 4Q19 3Q20 4Q20 (0.50) (0.69) (1.00) 26

  27. Slide 27: 最近四年度每股盈餘

    最近四年度每股盈餘 (單位:新台幣元) 1.2 1 0.97 0.82 0.8 0.6 0.51 0.38 0.4 0.2 0 2017 2018 2019 2020 27

  28. Slide 28: 2020年度銷售分析-收入模式

    2020年度銷售分析-收入模式 矽智財授權收入 權利金收入 技術服務收入 維護服務收入及其他 8% 11% 54% 27% 28

  29. Slide 29: 2020年度銷售分析-地區別

    2020年度銷售分析-地區別 Taiwan USA China Korea Europe Japan 1% 4% 25% 43% 26% 29

  30. Slide 30: 2020年度銷售分析-客戶應用

    2020年度銷售分析-客戶應用 2% 2% 2% AI 16% 7% Video& Audio Sensing 7% IoT MCU 16% 9% Others Navigation Networking 13% Automotive 13% HPC Storage 13% 30

  31. Slide 31: 2020年度銷售分析-產品別

    2020年度銷售分析-產品別 N8 N9 1%1%1% D25 12% 1% 2% V3 2% Customized IP 19% 2% N25 42% RISC-V 2% NX27 2% 2% D10 Custom Computing Service 2% 46% N45 3% ACE AX25 3% NX25 13% 3% A27 A25 AX27 4% N22 N10 5% N13 8% AndeSight D45 7% 8% NX45 7% SYSTEM C N7 OTHER 31

  32. Slide 32: 2020年第四季銷售分析- RISC-V

    2020年第四季銷售分析- RISC-V 180,000 162,096 160,000 140,000 120,000 105,013 100,000 60.4% 80,000 57,427 55,634 52,593 60,000 44,511 40,000 43.1% 20,143 42.5% 7,664 1,476 20,000 15.1% 7.3% 0.5% - 4Q19 3Q20 4Q20 V3 RISC-V Custom Computing 32

  33. Slide 33: 2020年度銷售分析- RISC-V

    2020年度銷售分析- RISC-V 269,375 300,000 242,319 233,644 250,000 180,642 200,000 150,000 47% 46% 80,565 42% 69,318 100,000 37% 16% 50,000 12% - 2019 2020 V3 RISC-V Custom Computing 33

  34. Slide 34: 產品應用

    產品應用 http://www.andestech.com

  35. Slide 35: 晶心概況

    晶心概況  A 16-year-old public CPU IP company  2B+ Andes-Embedded SoC annually in 2020 GNU Toolchains  A founding premier member of the RISC-V International  An active role in RISC-V International & its LLVM extension task groups RISC-V Board Director Vice Chair of Technical Steering Committee RISC-

  36. Slide 36: 晶心嵌入各式各樣新的應用

    晶心嵌入各式各樣新的應用 Sensor Hub WiFi/ BT/ GPS/ FM (combo) NFC Smart Speakers: Bike Sharing: X-Trail: Controller Touch WiFi IoT GPS Ctrl ADAS Ctlr Storage Screen Controller Controller Switch: Andes Embedded in Smart Phones Game Flash Ctlr  In leading machine learning computers for datacenter  In tier-one s

  37. Slide 37: 晶心RISC-V已應用在邊緣到雲端運算的SoC

    晶心RISC-V已應用在邊緣到雲端運算的SoC Edge to Cloud ADAS Datacenter AI accelerators AIoT SSD: enterprise (& consumer) Blockchain 5G macro/small cells FPGA MCU Multimedia Security Wireless (BT/WiFi) 40nm to 5nm 5G Macro Many in AI 37

  38. Slide 38: 晶心RISC-V核心在SoC中被採用的數目

    晶心RISC-V核心在SoC中被採用的數目 o single core ooooo oooooooooooooooooooo…oooooooooooooooooooo 2-8 cores ooo oooooooooooooooooooo…oooooooooooooooooooo oooooooooooooooooooo…oooooooooooooooooooo oooooooooooooooooooo…oooooooooooooooooooo oooooooo oooooooooooooooooooo…oooooooooooooooooooo oooooooo oooooooooooooooo

  39. Slide 39: 新產品及生態系統

    新產品及生態系統 http://www.andestech.com

  40. Slide 40: 晶心RISC-V產品概述

    晶心RISC-V產品概述 Best extensions to RISC-V AndeStar™ Architecture V5 AndesCore™ AndeSight™ Highly optimized Processors Tools Professional IDE design with Standby EDM COP Intf with high code & VIC leading PPA AndesCore uCore quality ITLB MMU/MPU DTLB Instr Instr LM Data LM Data Cache Intf Intf Cache DMA

  41. Slide 41: 晶心RISC-V產品路線圖

    晶心RISC-V產品路線圖 RV32/RV64 Vector Ext. Superscalar Benefits A25MP 27-Series: 45-Series: 512-bit SIMD raises Cache-Coherent AX25MP MobileNet by 30x 1-4 Cores Dual Issue (CNN for mobile vision) Vector Ext. MemBoost MemBoost NX27V N45/NX45 boost performance D45/DX45 by 50% Linux with A25 A27/AX27 A45/AX45

  42. Slide 42: Andes V5適用於廣泛的運算架構

    Andes V5適用於廣泛的運算架構 AndeStar™ V5 CPUs Conventional Computing Domain Specific Architecture Architecture (DSA) RV32/64 Andes Extension N/D-series Leading PPA Embedded Processor Define custom instruction to N22 N(X)25 D25… IoT, Sensing, Storage, Audio, GPS handle time critical codes A-series High Perfor

  43. Slide 43: 晶心RISC-V處理器在AI的各種應用

    晶心RISC-V處理器在AI的各種應用 Data Center Automotive Mobile AR/VR Surveillance • ADAS, HDR • > 10 cameras Smart Home • Face unlock Vector CPUs • Bokeh Smart Camera • Avatar • Intelligent HMI • SLAM • Barge-in • Gesture recognition Smart IoT Devices • High resolution • Beamforming • Speech to text • > 1 camera

  44. Slide 44: RISC-V DSP Extension

    RISC-V DSP Extension • Andes contributed market-proven DSP(SIMD) as P-Extension • Designed to accelerate slow video, audio/voice and low data rate DSP workloads Real world speedup using P-Extension DSP MP3 decode 2 RV32P AMR voice codec 3.7 ML-KWS (keyword spotting) 5.2 PNET (90% of Face Detection)

  45. Slide 45: 晶心向量處理器(NX27V)

    晶心向量處理器(NX27V) - One for All Implementations *512b Cloud Computing – Datacenter, HPC, Server *256b NX27V Edge Computing – 5G, Vision Processing Endpoint Computing – Natural Language Processing *128b * Configurable compute data width (VLEN) 45

  46. Slide 46: Andes 客製化指令集延伸

    Andes 客製化指令集延伸  ACE unlocks RISC-V’s Potential of DSA • Define ACE instruction to handle time critical codes • Another approach to co-processor or accelerators  All-in-one COPILOT development environment • Automation tool and ease of use • Extensions are easy to re-use, can be used as a library 46

  47. Slide 47: Taking RISC-V Cores to Next Level

    Taking RISC-V Cores to Next Level Andes is the world-leading supplier shipping the commercial RISC-V cores to market with the support of • D25, D45, A(X)25(MP), A(X)27(L2), P-Extension A(X)45(MP) V-Extension • NX27V, NX45V Custom-Extension • Entire 25, 27, 45 series (w/ ACE* support) *: Andes Custo

  48. Slide 48: 晶心RISC-V產品的優勢

    晶心RISC-V產品的優勢 Performance • Leading PPA and code size & Extensibility • Rich data processing in P, V, and ACE Configurability • Flexible configurations for rich features • Compiler optimizations, and SW stacks Maturity • Comprehensive features in AndeSight IDE 48

  49. Slide 49: 積極參與RISC-V社群活動

    積極參與RISC-V社群活動  Contributing hardware architecture extensions  Chair of the P-extension (Packed SIMD/DSP) Task Group  Co-chair of Fast Interrupts Task Group  Closely reviewing activities of other Task Groups 49

  50. Slide 50: 晶心協助強化RISC-V生態系統

    晶心協助強化RISC-V生態系統  More choices for customers are good  Andes works closely with partners to grow RISC-V ecosystem 50

  51. Slide 51: 晶心在 RISC-V上的定位

    晶心在 RISC-V上的定位 Complete product portfolio Reliable RISC-V core IP vendor Extreme low power consumption, high computing efficiency World’s leading P-, V- and Custom-Ext. Capable RISC-V cores Professional custom computing service 51

  52. Slide 52: 生態系統: Andes 與 Knect.me

    + HE Awe: Andes &i Knect.me

  53. Slide 53: Knect.me 生態系統

    Knect.me 生態系統  Built up the community to help FlashFetch Flash/ AndesCore Data RAM ROM/ AHB Intf RAM DMA AHB Masters SPI developing IoT products (quad speed) LMBRG LMBRG AHB Bus AHB Slaves MAC/PHY Crypto Engine Matrix OTP for password,  To knect solutions for silicon IP’s, keys, etc. APB Bridge GP

  54. Slide 54: FreeStart Program

    FreeStart Program  FreeStart Evaluation Program (FSEP)  Support Package (FSSP)  For all RISC-V enthusiasms and  For all educator/researcher  $20K for 1st year, including  Fixed-Configuration N22 RTL • 1 year e-service  Sign simple evaluation agreement directly on • FreeStart AE250 RTL website

  55. Slide 55: Event Promotion

    Event Promotion RISC-V CON RISC-V CON Silicon Valley Beijing RISC-V CON Shanghai RISC-V CON RISC-V CON Hsinchu Shenzhen RISC-V CON series RISC-V Summit, Forum, Workshop & Meetup series TSMC Symposium & OIP series RISC-V Summit in San Jose 2020: Diamond Sponsor 55

  56. Slide 56: 總結

    總結 http://www.andestech.com

  57. Slide 57: A Trusted Computing Expert

    A Trusted Computing Expert Successfully rolled out new series of RISC-V cores (w/ leading P-, V- and Custom-Ext.), custom computing service and FreeStart program to extend more oppty. Andes Aggressively involved in RISC-V International new technology development, contributing and Technology leveragi

  58. Slide 58: Thank You

    Thank You http://www.andestech.com +886-3-5726533 58

Andes Technology — Q4 2020 Earnings Presentation on 6ix