Ememory Technology, Inc. · TPEX:3529
Ememory Technology — Q4 2020 Earnings Presentation
27 slides from Ememory Technology's earnings presentation, Feb 9, 2021
Slide 1: Q4 2020 Investor Conference
Q4 2020 Investor Conference Feb 9th, 2021 Embedded wisely, Embedded widely
Slide 2: IPR Notice
IPR Notice 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 inform
Slide 3: Cautionary Statement
Cautionary Statement 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
Slide 4: Contents
Contents 1 Review of Operations 2 Future Outlook Applications of PUF-based Security 3 Solutions in DPU 4 Q&A 5 Appendix Embedded Wisely, Embedded Widely 4
Slide 5: Review of Operations
Review of Operations Embedded Wisely, Embedded Widely 5
Slide 6: Q4 2020 Financial Results
Q4 2020 Financial Results The EPS of Q4 2020 was 2.60 NTD, ROE was 41.8% (thousands of NT dollars) Q4 2020 Change Change FY 2020 Change Q3 2020 Q4 2019 FY 2019 (Unaudited) (QoQ) (YoY) (Unaudited) (YoY) Revenue 496,682 441,259 12.6% 361,896 37.2% 1,776,653 1,410,085 26.0% Gross Margin 100% 100% - 100
Slide 7: Revenue in Different Stream
Revenue in Different Stream Q4 revenue up 45.3% YoY in US dollar terms Revenue Breakdown 20Q4 in comparison to 20Q3 $400,000 20Q3 20Q4 Royalty 68.9% $200,000 $0 Licensing Licensing Royalty 31.1% Revenue NT$ Thousands Q4 2020 Q3 2020 QoQ Q4 2019 YoY FY 2020 FY 2019 YoY Licensing 154,472 111,125 39.0%
Slide 8: Revenue by Technology
Revenue by Technology The royalty of NeoFuse has a growth of 119.8% YoY in 2020 Q4 2020 Total Revenue Licensing Revenue Royalty Revenue Technology % of % of % of Change Change Change Change Change Change Q4 Q4 Q4 (QoQ) (YoY) (QoQ) (YoY) (QoQ) (YoY) Revenue Licensing Royalty NeoBit 44.7% -6.1% 12.2%
Slide 9: Royalty Revenue by Wafer Size
Royalty Revenue by Wafer Size 12-inch wafer increased 80.9% YoY in Q4 Q4 Royalty Breakdown 12-inch 12-inch wafers contributed 39% of royalty, increased 39.0% 1.7% sequentially and 80.9% YoY. 8-inch wafers contributed 61% of royalty, increased 5% sequentially and 21.2% YoY. 8-inch 61.0% Royalty Q
Slide 10: Future Outlook
Future Outlook Embedded Wisely, Embedded Widely 10
Slide 11: eMemory Embedded Everywhere
eMemory Embedded Everywhere eMemory’s IP seeks to penetrate across all the applications Core Tech Security Product Applications: The Future in Security Chip IP: eMemory’s IP are already applied into different The rapid growth in AIoT and 5G drive the applications, which includes PMIC, LCD driver
Slide 12: Our Perspectives
Our Perspectives eMemory continue to create value for the industry and our shareholders Licensing Licensing: • Licensing revenue will grow due to strong demand for NeoFuse, & NeoPUF and MTP related (MTP, emerging memory and AI memory). Royalty Royalty: • 8” royalties will grow due to PMIC conten
Slide 13: Our Perspectives
Our Perspectives eMemory continue to create value for the industry and our shareholders For New Business Development: • NeoFuse in advanced process is adopted for secure key storage. This will be a trend for security requirement. New • Business activities of PUF-based security solutions are in pro
Slide 14: Applications of PUF-based Security Solutions in DPU
Applications of PUF-based Security Solutions in DPU Embedded Wisely, Embedded Widely 14
Slide 15: Why is DPU Required in Data Centers?
Why is DPU Required in Data Centers? Conventional Data Center vs. DPU-powered Data Center Conventional Data Center DPU-powered Data Center Host CPU Host CPU Application management Application Network management management Storage Security DPU management management Network Storage Security CPU suffer
Slide 16: Why Does DPU Need Security Solutions?
Why Does DPU Need Security Solutions? Optimal Performance Isolated Attack Surface Enhanced Security Level Security can be carried out by Each DPU forms its own Secure An ideal DPU should safeguard specialized DPU, while CPU Enclave, which lowers the the data under any circumstances, focus on applica
Slide 17: Why is PUF-based HW Security the Solution?
Why is PUF-based HW Security the Solution? Inborn and Genuine • A firm foundation of security management HW Root-of-Trust • Unique, Random, Robust, and tamper-proof Best-in-class • Keys with high entropy generated on-demand Key Generation • PUF-entangled Untraceable key storage Comprehensive • Ensur
Slide 18: Q&A
Q&A Embedded Wisely, Embedded Widely 18
Slide 19: Appendix
Appendix Embedded Wisely, Embedded Widely 19
Slide 20: Company Overview
Company Overview eMemory is the global leader of embedded non-volatile memory IP Revenue Trend (Unit: NT$ 1,000) 2,000,000 Licensing & Royalty License/Design Revenue Royalty 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 Founded In 2000
Slide 21: Quarterly Revenue Pattern
Quarterly Revenue Pattern eMemory’s 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:
Slide 22: Worldwide Customers
Worldwide Customers Our IP solutions are adopted by leading foundries, IDMs and fabless worldwide New Country Licensing Foundry IDM & Fabless Application & Royalty Technology Taiwan 4 1 302 Development China 8 0 812 Korea 4 0 87 Japan 4 7 64 North 1 1 306 America Europe 2 1 177 Others 1 0 76 Embedde
Slide 23: Business Model
Business Model 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 Foundrie
Slide 24: Technology Licenses
Technology Licenses Cumulative technology licenses Number of Licenses Year 2016 2017 2018 2019 2020 License 43 20 26 18 28 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 ther
Slide 25: New Technology Under Development
New Technology Under Development Products in different process nodes New technologies are being developed for 99 platforms by Q4 2020. 4 licensing contracts were signed, 3 for NeoFuse and 1 for NeoMTP. 0.11~ 0.15~ Technology 5/6nm 7/10nm 12/16nm 22/28nm 40nm 55/65nm 80/90nm >0.25um 0.13um 0.18um
Slide 26: Technology Development
Technology Development Developments by process nodes 12" Fabs Production Development IP Type Process Type 5/6nm 0 4 OTP, PUF FF 7/10nm 2 1 OTP FF, FF+ 12/16nm 3 5 OTP, PUF FF, FF+ 22/28nm 31 11 OTP, PUF LP/ULP/ULL, HPC/HPC+, HV-OLED, DRAM, SOI 40nm 15 5 OTP, PUF LP/ULP, E-Flash, HV-DDI/OLED 55/65nm
Slide 27: Embedded wisely, Embedded widely
Embedded wisely, Embedded widely Embedded Wisely, Embedded Widely 27