Aspeed Technology, Inc. · TPEX:5274

Aspeed Technology — Q1 2025 Earnings Presentation

29 slides from Aspeed Technology's earnings presentation, May 2025

  1. Slide 1: ASPEED Technology Investor Conference

    信驊科技2025年第一季法人說明會 ASPEED Technology Investor Conference May 2025 © ASPEED Technology. Property and Confidential​

  2. 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

  3. Slide 3: Agenda

    Agenda ● Company Profile ● 2025 First Quarter Financial Results ● Product Portfolio ● BMC in AI Servers ● 2025 Q2 Guidance ● Q&A © ASPEED Technology. Proprietary and Confidential.

  4. Slide 4: Company Profile

    Company Profile © ASPEED Technology. Proprietary and Confidential.

  5. Slide 5: Company Profile

    Company Profile ● Founded in 2004 ● Fabless-lite IC design company ● Number of employees: 126 (as of March 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: H

  6. Slide 6: 2025 First Quarter Financial Results

    2025 First Quarter Financial Results © ASPEED Technology. Proprietary and Confidential.

  7. Slide 7: Income Statement

    Income Statement QoQ (%) YoY (%) 1Q25 1Q25 In NT$ thousands 1Q25 4Q24 1Q24 over over 4Q24 1Q24 Operating Revenue 2,065,118 2,103,713 1,013,473 -1.83% 103.77% Gross Profit 1,367,763 1,376,853 640,916 -0.66% 113.41% Gross Margin (%) 66.23% 65.45% 63.24% +0.78ppts +2.99ppts Operating Expenses 340,700 3

  8. Slide 8: Consolidated Revenue

    Consolidated Revenue Unit : NTD 1,000 2,500,000 67% 66% 2,000,000 65% 1,500,000 64% 1,000,000 63% 500,000 62% - 61% 1Q24 2Q24 3Q24 4Q24 1Q25 Revenue Gross Margin 1Q24 2Q24 3Q24 4Q24 1Q25 QoQ YoY Revenue 1,013,473 1,356,045 1,986,435 2,103,713 2,065,118 -1.83% 103.77% Gross Margin 63.24% 63.36% 64.28

  9. Slide 9: 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% 1Q24 2Q24 3Q24 4Q24 1Q25 Operating Profit Operating Margin (%) 1Q24 2Q24 3Q24 4Q24 1Q25 QoQ YoY Operating Profit 386,426 580,153 951,456 1,000,352 1,027,063 2.67% 165.79% Operating Marg

  10. Slide 10: Operating Expenses

    Operating Expenses Unit : NTD 1,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 - 1Q24 2Q24 3Q24 4Q24 1Q25 R&D Admin Sales 1Q24 2Q24 3Q24 4Q24 1Q25 QoQ YoY R&D 171,554 183,548 205,974 267,482 244,021 -8.77% 42.24% Admin 59,731 68,944 81,735 76,073 72,548 -4.63% 21.46% Sales 23,205

  11. Slide 11: 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% 1Q24 2Q24 3Q24 4Q24 1Q25 Net Income Net Profit Margin (%) 1Q24 2Q24 3Q24 4Q24 1Q25 QoQ YoY Net Income 391,350 507,796 729,320 942,842 886,770 -5.9

  12. Slide 12: 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% 1Q24 2Q24 3Q24 4Q24 1Q25 Tax Effective Tax Rate (%) 1Q24 2Q24 3Q24 4Q24 1Q25 QoQ YoY Tax 76,868 125,804 182,203 211,125 218,330 3.41% 184.03% Effective Tax Rate (%) 16.42% 19.86% 19.99% 18.30% 19.76% +

  13. Slide 13: Earnings Per Share

    Earnings Per Share Unit : NTD 25 20 15 10 5 - 1Q24 2Q24 3Q24 4Q24 1Q25 Quarterly 1Q24 2Q24 3Q24 4Q24 1Q25 QoQ YoY EPS 10.36 13.44 19.30 24.95 23.46 -5.97% 126.45% © ASPEED Technology. Proprietary and Confidential.

  14. Slide 14: Product Portfolio

    Product Portfolio © ASPEED Technology. Proprietary and Confidential.

  15. Slide 15: Product Portfolio

    Product Portfolio BMC：AST2500, AST2600, AST2700, AST2750 Cloud & BIC：AST1030 Enterprise PFR：AST1060 I/O Expander：AST1700, AST1800 AV Matrix：AST1520, AST1530 Smart AV AV Extender: AST1620, AST1630 Cupola360：AST1220, AST1230 © ASPEED Technology. Proprietary and Confidential.

  16. Slide 16: The Trend of Modular Designs

    The Trend of Modular Designs Features: • Faster time-to-market • Flexible to outsource & manufacture • Create new business opportunity for ASPEED : I/O Expander © ASPEED Technology. Proprietary and Confidential.

  17. Slide 17: Simplify Future Server Design

    Simplify Future Server Design ⚫ AST1800 inherits the advantages of AST1700 – more interface but simpler design. ⚫ More versatile with embedded FPGA. ⚫ FPGA development tools – Synthesis, Place & Route; Programming; Logic Analysis. © ASPEED Technology. Proprietary and Confidential.

  18. Slide 18: Further Modular Design

    Further Modular Design From general purpose to application-specific design, with add-on Modules/Cards Features: • Purpose-built with add-on modules/cards • Higher compute density with more CPUs, GPUs, or other add-on cards • Improved thermal and power management • Business opportunity for ASPEED Bri

  19. Slide 19: Ultimate Modular Design

    Ultimate Modular Design Rack-level system design for both GPU and AI ASIC servers Features: • Consolidated power, cooling, networking • Improved resource utilization • Ideal for large-scale data centers • Business opportunities for ASPEED BMC content growth in compute trays, switch trays, power shel

  20. Slide 20: Advancing Towards Diverse Applications

    Advancing Towards Diverse Applications Cloud & Enterprise SoCs Enable Innovation with Comprehensive Solutions © ASPEED Technology. Proprietary and Confidential.

  21. Slide 21: BMC in AI Servers

    BMC in AI Servers © ASPEED Technology. Proprietary and Confidential.

  22. Slide 22: 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

  23. Slide 23: BMC Content in AI ASIC Server 1

    BMC Content in AI ASIC Server 1 There are 22 BMCs in AI ASIC server 1 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 Confidentia

  24. Slide 24: BMC Content in AI ASIC Server 2

    BMC Content in AI ASIC Server 2 There are 23 BMCs in AI ASIC server 2 ⚫ 16 BMCs in 16 MTIA blades ⚫ 6 BMCs in 6 Network blades ⚫ 1 BMCs in Chassis Mgmt. blade MTIA blades And 16 BICs ⚫ 16 BICs in 16 MTIA blades Network Chassis blades Mgmt. blade MTIA blades © ASPEED Technology. Proprietary and Confi

  25. Slide 25: Capex Efficiency

    Capex Efficiency Thousand USD 120 100 80 60 100.0 40 20 42.3 20.0 12.7 8.7 0 General Server H100 Server GB300 NVL72 AI ASIC Server 1 AI ASIC Server 2 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 efficie

  26. Slide 26: 2025 Q2 Guidance

    2025 Q2 Guidance © ASPEED Technology. Proprietary and Confidential.

  27. Slide 27: 2025 Q2 Guidance

    2025 Q2 Guidance Previous Guidance Updated Guidance FX Rate 1 USD = 32.5 TWD 1 USD = 30.5 TWD Consolidated Revenue NT$1.7B ~ $1.8B NT$1.9B ~ $2.0B Gross Margin 65.0% ~ 66.5% 64.5% ~ 66.0% © ASPEED Technology. Proprietary and Confidential.

  28. Slide 28: Q&A

    Q&A © ASPEED Technology. Proprietary and Confidential.

  29. Slide 29: © ASPEED Technology. Proprietary and Confidential.

    © ASPEED Technology. Proprietary and Confidential.

ASPEED Technology — Q1 2025 Earnings Presentation on 6ix