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We are a leading provider of semiconductor system IP, including interconnect and other intellectual property (collectively, System IP) technology. Our System IP technology manages on-chip communications and IP block deployments by helping to enable the underlying data movement across chiplets, single-die and multi-die System-on-Chip (SoC) semiconductors.
The business is unprofitable at the operating level (-46.95% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 22.3% YoY with margins expanding 7.8pp.
ROIC dropped from -213.26% to -633.55%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$77M
▲ +22.3% YoY
Net Income (TTM)
-$35M
▼ -3.3% YoY
Op. Margin
-45.11%
▲ +7.8pp YoY
ROIC
-502.14%
▼ -420.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$5M
▲ +612.0% YoY
Op. Cash Flow (TTM)
-$3M
▲ +1035.1% YoY
Net Debt
-$33M
Net Cash Position
Cash & Equiv.
$38M
5Y CAGR: +17.3%
5Y CAGR: +28.8%
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