PI @ Needham notes - 1/11/23
Fireside chat with CFO. The pre-announcement last night allowed them to talk a bit about Q4, more detail and Q1 guidance will come on Feb 8 when they report the results.
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Exited Q4 with record backlog. The upside in Q4 was primarily in endpoint ICs. They had guided to high single digit growth and they delivered low double digit growth. Systems revenue was flat, they had forecast it to be down slightly.
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Discussing tag volumes, the move to general merchandise for retailers started in mid-2022, supply chain and logistics will start in 2023.
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The frequency and size of additional wafer allocations is increasing.
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29B endpoint ICs shipped in 2022.
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They are seeing surprising interest from pharma for their new authentication solution. They hope to be able to discuss design wins in 2023.
Cooters