Navitas記者會逐字稿

Navitas公佈了2023年財報、Q4財報，及2024年財測指引，看起來不錯，結果卻是股價大跌，完全令人傻眼的走勢，第一次碰到盤前走勢跟開盤後走勢完全背道而馳，顯然是短線客，在財測前上車在公佈後全部下車的太多了，也懷疑財報有貓膩，是不是在記者會漏餡了？所以找出記者會逐字稿，看一下記者問題，和公司回覆，有沒有令人沮喪的事？看完之後，感覺沒有什麼問題，反而強化了持股信心，只是不知道競爭對手IDM廠，英飛凌、恩智浦．．．．．這些公司的產品的競爭狀況，買黑不買紅，Navitas繼續持有，如果跌到4美元以下，是千載難逢的機會。記者會內容，值得一看。

納微半導體 (NVTS) 2023 Q4 法說會逐字稿

• 公布時間24/03/01
• 本季實際 EPS-0.04 美元
• EPS 比市場預期高高於預期
• EPS 年成長虧損縮小

內容摘要

Steven Oliver 介紹了 Navitas Semiconductor 的 2023 年第四季和全年業績電話會議，Gene Sheridan 和 Ron Shelton 出席了會議。 Janet Cho 將接任執行副總裁、財務長和財務長。

該公司公佈了 2023 年強勁的財務業績，收入大幅成長，並計劃在 2024 年繼續成長。他們預計各個市場將出現成長，包括行動、家用電器、工業、資料中心、電動車和太陽能。

該公司專注於 GaN 和碳化矽技術，預計成長速度將快於整個功率半導體市場。他們正在考慮擴大產品組合，並預計 2023 年終端市場將發生組合轉變。

該公司定位為GaN充電器市場的主要供應商，對資料中心、家電和汽車產業的成長機會持樂觀態度。他們強調自己在資料中心設計方面的專業知識以及人工智慧伺服器和其他應用程式的成長潛力。

完整原文

使用警語：中文譯文來源為 Google 翻譯，僅供參考，實際內容請以英文原文為主

• Operator
• Good afternoon.午安.
• Thank you for standing by, and welcome to Navitas Semiconductor Fourth Quarter and 2023 financial results conference call.感謝您的耐心等待，歡迎參加納維半導體第四季和 2023 年財務業績電話會議。
• Please be advised today's conference is being recorded and a replay will be available on Navidea's Investor Relations website.請注意，今天的會議正在錄製中，重播將在 Navidea 的投資者關係網站上提供。
• I would now like to hand the conference over to Stephen Oliver, Vice President of Corporate Marketing and Investor Relations.我現在想將會議交給企業行銷和投資者關係副總裁 Stephen Oliver。
• Stephen, over to you.史蒂芬，交給你了。

• Stephen Oliver - VP Corporate Marketing & IR
• Good afternoon, everyone.大家下午好。
• I'm Steven Oliver, Vice President of Corporate Marketing and Investor Relations.我是史蒂文‧奧利佛，企業行銷與投資人關係副總裁。
• Thank you for joining Navitas Semiconductor 's fourth quarter and full year of 2023 Results Conference Call.感謝您參加納維半導體 2023 年第四季和全年業績電話會議。
• I'm joined today by Gene Sheridan, our Chairman, President, CEO and Co-Founder, and Ron Shelton, CFO and Treasurer.今天，我們的董事長、總裁、執行長兼聯合創始人吉恩·謝裡丹 (Gene Sheridan) 以及財務長兼財務主管 Ron Shelton 出席了會議。
• Also present is Janet Cho, who will take over as EVP, CFO and Treasurer following this earnings report.出席會議的還有 Janet Cho，她將在本財報發布後接任執行副總裁、財務長和財務主管。
• As announced earlier, a replay of this webcast will be available on our website approximately one hour following this conference call and the recorded webcast will be available for approximately 30 days following the call additional information related to our business.正如先前所宣布的，該網路廣播的重播將在本次電話會議後大約一小時在我們的網站上提供，並且錄製的網路廣播將在電話會議後大約 30 天內提供與我們業務相關的其他資訊。
• He's also posted on the Investor Relations section of our website.他還在我們網站的投資者關係部分發布了資訊。
• Our earnings release includes non-GAAP financial measures reconciliations of these non-GAAP financial measures with the most directly comparable GAAP measures are included in our fourth quarter earnings release and also posted on our website in the Investor Relations section in this conference call, we will make forward-looking statements about future events or about the future financial performance of Navitas, including acquisitions.我們的收益發布包括非GAAP 財務指標，這些非GAAP 財務指標與最直接可比較的GAAP 指標的對帳包含在我們的第四季度收益發布中，並在本次電話會議的投資者關係部分發佈在我們的網站上，我們將對納維未來事件或未來財務表現（包括收購）做出前瞻性陳述。
• You can identify these statements by words like we expect or we believe or similar terms.您可以透過我們期望或我們相信的字詞或類似術語來識別這些陳述。
• We wish to caution you that such forward-looking statements are subject to risks and uncertainties.我們希望提醒您，此類前瞻性陳述存在風險和不確定性。
• It could cause actual events or results to differ materially from expectations expressed in our forward-looking statements.它可能導致實際事件或結果與我們前瞻性陳述中表達的預期有重大差異。
• Important factors that can affect Novitas business, including factors that could cause actual results to differ from our forward-looking statements are described in our earnings release please also refer to the Risk Factors section in our most recent 10-K and 10-Q.我們的收益報告中描述了可能影響 Novitas 業務的重要因素，包括可能導致實際結果與我們的前瞻性陳述不同的因素，請另參閱我們最新的 10-K 和 10-Q 中的風險因素部分。
• Our estimates or other forward-looking statements may change and Novitas assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other events that may occur except as required by law.我們的估計或其他前瞻性陳述可能會發生變化，諾維塔斯不承擔更新前瞻性陳述以反映實際結果、假設變化或可能發生的其他事件的義務，除非法律要求。
• And now over to Gene Sheridan, CEO.現在請執行長吉恩·謝裡丹 (Gene Sheridan) 發言。

• Gene Sheridan - Co-Founder & CEO
• Thank you, Steve, and thanks to everyone for joining the call today.謝謝史蒂夫，也謝謝大家今天加入電話會議。
• As we celebrate our 10-year anniversary, I'm very excited to announce a number of major milestones for the company, which include cumulative shipments of over 150 million devices savings of over 200,000 tons of CO2.在我們慶祝成立 10 週年之際，我非常高興地宣佈該公司的一系列重大里程碑，其中包括累計發貨超過 1.5 億台設備，減少了超過 20 萬噸二氧化碳排放。
• Our customer pipeline as announced in December of over $1.25 billion and our highest quarterly revenue ever with over $26 million in Q4.我們 12 月宣布的客戶管道超過 12.5 億美元，第四季營收超過 2,600 萬美元，是有史以來最高的季度收入。
• This quarterly result exceeds our guidance and reflects an increase of 111% from Q4 of the prior year.本季業績超出了我們的指導，較去年第四季成長 111%。
• In total, 2023 annual revenue comes in at $79.5 million, which reflects growth of approximately 109% over 2022 in a year when overall semiconductors were generally down around 8%.總體而言，2023 年的年收入為 7,950 萬美元，比 2022 年增長了約 109%，而當時整個半導體行業普遍下降了 8% 左右。
• Let me now turn to some of the market-specific developments and highlights.現在讓我談談一些特定市場的發展和亮點。
• While the mobile market in general is experiencing limited growth in the near term, we continue to see solid revenue increases as major mobile players transition from silicon to GaN-based chargers are high fee generation for our Jansen Pepperidge platform is a key component in fast and ultra-fast mobile charging.雖然行動市場短期內整體成長有限，但隨著主要行動廠商從矽充電器過渡到基於GaN 的充電器，我們的收入將繼續穩定成長，而我們的Jansen Pepperidge 平台產生的高額費用是快速且快速發展的關鍵組成部分。超快速移動充電。
• All 10 of the top 10 mobile OEMs are now in production with Novitas and Ghana's climbing the adoption curve rapidly.排名前 10 名的行動 OEM 廠商中的所有 10 家現已投入生產，Novitas 和加納的採用曲線正在迅速攀升。
• In 2024, we expect customers like Opel and Xiaomi to ship over 30% of all their chargers with GaN technology.到 2024 年，我們預計歐寶和小米等客戶將有 30% 以上的充電器採用 GaN 技術。
• Novitas now powers five different Opel models, and we're excited to announce eight newly released Xiaomi phone models with GaN chargers ranging from 67 watts to 121 watts.Novitas 現在為五款不同的歐寶車型提供動力，我們很高興地宣布推出八款新發布的小米手機型號，配備 GaN 充電器，功率範圍從 67 瓦到 121 瓦不等。
• In Korea, success with Samsung continues, we were already powering the S23 charger.在韓國，三星繼續取得成功，我們已經為 S23 充電器供電。
• And now we've been selected to power the new Galaxy S24 GaN has moved from beachhead to mainstream and as the technology of choice for new mobile designs across phones, tablets, laptops, and aftermarket chargers.現在，我們已被選中為新款 Galaxy S24 提供動力，GaN 已從灘頭陣地轉變為主流，並成為手機、平板電腦、筆記型電腦和售後充電器等新型行動設計的首選技術。
• We have also developed a new M Series version of our generation four average IC, which are optimized for motor drives and a major driver in our home appliance pipeline.我們還開發了第四代平均 IC 的新 M 系列版本，該版本針對馬達驅動器和我們家用電器產品線中的主要驅動器進行了最佳化。
• As noted in December, our appliance and industrial pipeline totals over 200 projects and approximately $360 million in potential business.正如 12 月所指出的，我們的家電和工業管道總計超過 200 個項目，潛在業務約為 3.6 億美元。
• I'm pleased to announce another major appliance design win with a Tier 1 player, which leverages this latest M-Series pack range, which we believe enables the highest frequency, highest efficiency and highest power density motor drive for appliance and is expect to add over $10 million per year in new revenue starting late this year.我很高興地宣布與一級廠商取得的另一項重大家電設計勝利，該設計利用了最新的M 系列套件系列，我們相信該系列可為家電提供最高頻率、最高效率和最高功率密度的電機驅動，並預計將增加從今年年底開始，每年的新收入超過 1000 萬美元。
• In total, Novitas is in development with 7 of the world's top 10 home appliance OEMs, which we expect will drive further revenue starting later this year and accelerate throughout 2025 and 2026.總的來說，Novitas 正在與全球十大家電原始設備製造商中的 7 家合作開發，我們預計這將在今年稍後開始推動收入進一步增長，並在 2025 年和 2026 年加速增長。
• In appliance and industrial segments, major OEMs are moving to GaN or silicon carbide to meet regulatory requirements for energy efficiency and consumer demands for higher power density, along with transitions from gas power heating and cooling systems to fast adoption of heat pump technology.在家電和工業領域，主要原始設備製造商正在轉向氮化鎵或碳化矽，以滿足能源效率的監管要求和消費者對更高功率密度的需求，以及從燃氣動力加熱和冷卻系統到快速採用熱泵技術的轉變。
• We now have customer designs underway at two of the top three global leaders in industrial pumps and one of the top three global leaders in heat pumps, accommodation, which is anticipated to drive tens of millions of new revenue starting late next year or 2026.目前，我們正在為工業泵領域全球三大領導者中的兩家以及熱泵和住宿領域全球三大領導者之一進行客戶設計，預計從明年底或2026 年開始，這將帶來數千萬的新收入。
• We are also excited to share that now the capacity and IT have been designed into the ground-based terminal for a major Internet satellite rollout that is expected to drive over $5 million annually with shipments beginning late this year and continuing for the next 5 to 10 years.我們也很高興地告訴大家，現在容量和IT 已被設計到地面終端中，用於主要的互聯網衛星部署，預計每年將帶來超過500 萬美元的收入，從今年晚些時候開始發貨，並在未來5 到10 年繼續進行。年。
• In September last year, we launched Dante technology, a new industry benchmark and the world's most protected, most reliable and high performance, GaN power semiconductor technology.去年9月，我們推出了Dante技術，這是一個新的產業標桿，也是世界上受保護最充分、最可靠和高效能的GaN功率半導體技術。
• Just this week at the prestigious APEC conference in Long Beach, we expanded that technology family to include a topside cooled packaging option with a 20-year warranty against a break the glass ceiling that has prevented you from entering high power high roll-up liability markets for decades as power-hungry AI processors increased power demand by two to three times now increasing to 1,000 to 2000 amps per processor and up to 100 kilowatts per rack.就在本週於長灘舉行的著名 APEC 會議上，我們擴展了該技術系列，添加了頂部冷卻封裝選項，並提供 20 年保修，打破了阻礙您進入高功率高卷式責任市場的玻璃天花板幾十年來，耗電的人工智慧處理器的電力需求增加了兩到三倍，現在每個處理器增加到1,000 到2000 安培，每個機架高達100 千瓦。
• New GaN, safe and Generation three fast silicon carbide technologies are enabling drivers to deliver the needed power densities and efficiencies required by these next-generation AI processors.新型 GaN、安全性和第三代快速碳化矽技術使驅動器能夠提供這些下一代 AI 處理器所需的功率密度和效率。
• Now because dedicated data center design center is now achieving unprecedented 4.5 kilowatt in the industry standard CRPS. 185 form factor, more than double the power density of legacy silicon solutions with lower temperatures, higher reliability and at a lower cost per watt.現在，因為專用資料中心設計中心現已實現前所未有的 4.5 千瓦行業標準 CRPS。 185 外形尺寸，功率密度是傳統矽解決方案的兩倍以上，具有更低的溫度、更高的可靠性和更低的每瓦成本。
• Over 20 designs are expected to ramp into initial mass production in 2024 at the top data center players, which we expect to contribute $3 million to $5 million in new revenue in the second half of this year.超過 20 種設計預計將於 2024 年在頂級資料中心廠商中投入初始量產，我們預計這些設計將在今年下半年貢獻 300 萬至 500 萬美元的新收入。
• In electric vehicles, we observed the same slower growth rate as observed by our peers, which is creating some short-term revenue headwinds.在電動車領域，我們觀察到的成長率與同業觀察到的成長率相同，這造成了一些短期收入阻力。
• But we're also benefiting from the introduction of our new Dante technology, plus our new generation three fat cells and carbon offsets, which are significant drivers in our revenue pipeline for onboard and roadside EV chargers for both 400 volt and 800 volt battery systems.但我們也受益於新 Dante 技術的推出，加上新一代三脂肪電池和碳補償，它們是我們 400 伏特和 800 伏特電池系統車載和路邊電動車充電器收入管道的重要驅動力。
• Silicon carbide-based onboard chargers are in or moving to production this year with customers, including top EV brands such as Zucker, Volvo and smart.基於碳化矽的車載充電器今年已投入生產或即將投入生產，客戶包括 Zucker、Volvo和 smart 等頂級電動車品牌。
• We also have multiple design engagements underway in U.S. Europe, Korea, China and Japan.我們也在美國、歐洲、韓國、中國和日本開展多項設計活動。
• Detailing chargers are expected to ramp later this year and into 2025.詳細充電器預計將在今年稍後到 2025 年大量生產。
• Again, I see EV adoption is also on track for mass production ramps in 2025, Novitas and pioneering leading edge onboard bidirectional charging at 6.6 kilowatt and 11 kilowatts with our dedicated EV design center.再次，我認為電動車的採用也有望在 2025 年實現大規模生產，Novitas 和我們專門的電動車設計中心開創性的領先的 6.6 千瓦和 11 千瓦車載雙向充電。
• Last year, we announced a joint design center with Geely, a top 10 EV player.去年，我們宣布與十大電動車廠商吉利建立聯合設計中心。
• And now we're excited to announce another joint design center with Henry, one of the top EV onboard charger supplier for Honda, BYD, Honda, fueling and other first, the Shin redevelopment projects are already underway and are expected to contribute appreciable revenues in early 2025 in ET roadside chargers.現在，我們很高興地宣布與 Henry 建立另一個聯合設計中心，Henry 是本田、比亞迪、本田、加油等頂級電動汽車車載充電器供應商之一，Shin 重建項目已經在進行中，預計將在2025 年初在ET 路邊充電器中應用。
• In addition to our ongoing silicon carbide production with SC segment, which is a major supplier to Electrify America and E-Z-GO, we are adding multiple Tier one development in U.S. Europe and Asia, with mass production starting in the second half of this year, which are expected to contribute over $5 million in 2025.除了我們正在進行的SC 部門（Electrify America 和E-Z-GO 的主要供應商）的碳化矽生產外，我們還在美國、歐洲和亞洲增加多個一級開發項目，並於今年下半年開始大規模生產，預計到 2025 年將貢獻超過 500 萬美元。
• In the solar space, while we are observing a continued general market slowdown given high interest rates but limit our growth in the first half of 2024, we are seeing accelerating displacement of silicon with GaN safe and Generation three fast silicon carbide technologies in our solar and energy storage customer pipeline.在太陽能領域，雖然我們觀察到由於高利率，市場總體持續放緩，但限制了我們在 2024 年上半年的成長，但我們看到太陽能和第三代快速碳化矽技術正在加速取代矽。儲能客戶通路。
• We now have significant developments with three of the top US 5 OEMs and the majority of the world's top 10 solar players.目前，我們與美國 5 家最大的 OEM 廠商中的 3 家以及全球 10 家最大的太陽能製造商中的大多數都取得了重大進展。
• While we are already shipping silicon carbide in the market today, GaN adoption in solar is on track to start ramping late this year.雖然我們目前已經在市場上銷售碳化矽，但 GaN 在太陽能領域的採用預計將在今年年底開始加速。
• And together, these new GaN and silicon carbide customer designs are expected to add tens of millions of revenue in 2025.這些新的 GaN 和碳化矽客戶設計預計將在 2025 年增加數千萬美元的收入。
• Overall, while we're not immune to the near-term market headwinds, which are translating to more muted revenues in the first half of 2024, the significant new wins that I've highlighted in my remarks in combination with an anticipated market recovery starting in the second half of the year are expected to translate into full year 2024 revenue growth of 40% to 50% over 2023.總體而言，雖然我們無法免受近期市場逆風的影響，這些逆風將導致2024 年上半年的收入更加疲弱，但我在演講中強調的重大新勝利以及預期的市場復甦將在2024 年上半年實現。下半年預計將轉化為2024年全年收入比2023年增長40%至50%。
• For all of our target markets, the system benefits derived from gallium nitride and silicon carbide are amplified by long-term secular tailwinds.對於我們所有的目標市場來說，氮化鎵和碳化矽帶來的系統效益會因長期的長期利好而放大。
• These include energy source conversion from fossil fuels to renewables, gas powered vehicles, transitioning to all forms of electric transportation and the intent and rapidly accelerating pertinent of AI and edge computing.其中包括從化石燃料到再生能源、燃氣動力汽車的能源轉換、向各種形式的電動交通的過渡以及人工智慧和邊緣運算相關的意圖和快速加速。
• Our leading edge GaN ICs and Jennifer technologies are both displacement technologies in traditional markets and accelerating and enabling technology and new energy markets.我們領先的 GaN IC 和 Jennifer 技術都是傳統市場的替代技術，也是加速和支援技術和新能源市場的技術。
• As we've stated before, these drivers, combined with our unique position and the industry's only pure play power, GaN and silicon carbide player position, Novitas should grow at a rate of six to 10 times faster than the overall power semiconductor market for years to come.正如我們之前所說，這些驅動因素，再加上我們獨特的地位以及業界唯一的純功率、氮化鎵和碳化矽廠商的地位，諾維塔斯多年來的增長速度應該是整個功率半導體市場的六到十倍來。
• And now over to Ron to review the financials.現在請羅恩審查財務狀況。

• Ron Shelton - CFO & Treasurer
• Thank you, Gene, and good afternoon, everyone. in my comments today.謝謝你，吉恩，大家下午好。在我今天的評論中。
• I will first take you through our fourth quarter and annual 2023 financial results.我將首先向您介紹我們的第四季和 2023 年年度財務表現。
• And then I'll walk you through our outlook for the first quarter, along with some of the market dynamics, we are currently seeing revenue in the fourth quarter of 2023 was again above our guidance, growing 111% year over year and 19% sequentially to approximately $26.1 million.然後我將向您介紹我們對第一季的展望以及一些市場動態，我們目前看到 2023 年第四季的收入再次高於我們的指導，同比增長 111%，環比增長 19%至約2610萬美元。
• For the full year of 2023, we grew revenue to $79.5 million, representing year-over-year growth of 109%.2023 年全年，我們的營收增至 7,950 萬美元，年增 109%。
• Before adjusting expenses, I'd like to refer you to the GAAP to non-GAAP reconciliations in our press release earlier today and the rest of my commentary, I will refer to non-GAAP expense measures.在調整費用之前，我想請您參閱今天早些時候我們的新聞稿中的 GAAP 與非 GAAP 調整表，以及我的評論的其餘部分，我將參考非 GAAP 費用衡量標準。
• Non-GAAP gross margin in the fourth quarter increased to 42.2% from 42.1% in the third quarter of 2023 and 40.6% in the fourth quarter of 2022.第四季非公認會計準則毛利率從 2023 年第三季的 42.1% 和 2022 年第四季的 40.6% 增至 42.2%。
• Gross margins in the quarter were at the low end of our guidance, primarily due to increased mobile market product mix as we continued to see strength in that part of our business.本季的毛利率處於我們指引的低端，主要是由於行動市場產品組合的增加，因為我們繼續看到該部分業務的實力。
• For fiscal year 2023, non-GAAP gross margin was 41.8% compared to 40.8% in the prior year.2023 財年，非 GAAP 毛利率為 41.8%，而前一年為 40.8%。
• Fourth quarter total operating expenses were $20.7 million, comprising SG&A expense of $9.3 million and R&D of $11.4 million.第四季總營運支出為 2,070 萬美元，其中 SG&A 支出為 930 萬美元，研發支出為 1,140 萬美元。
• That's a bit higher than our guidance due primarily to slightly higher spending on materials related to certain research and development activities.這比我們的指導要高一些，主要是因為與某些研發活動相關的材料支出略高。
• For fiscal year 2023, non-GAAP operating expenses were $73.5 million compared to $56.7 million in the prior year.2023 財年，非 GAAP 營運費用為 7,350 萬美元，而前一年為 5,670 萬美元。
• This increase reflects continued significant investments in new products, technologies and markets.這一成長反映出對新產品、技術和市場的持續大量投資。
• All of these investments are laying the stage for significant growth in the future.所有這些投資都為未來的顯著成長奠定了基礎。
• Putting all of this together, the loss from operations for the fourth quarter of 2023 was $9.7 million compared to a loss from operations of $12.4 million in the fourth quarter of 2022 and a loss of $40.3 million for the full year compared to a loss of $41.2 million for 2022.綜上所述，2023 年第四季營運虧損為 970 萬美元，而 2022 年第四季營運虧損為 1,240 萬美元，全年虧損為 4,030 萬美元，而全年虧損為 41.2 美元。2022 年為 1000 萬美元，而全年虧損為 41.2 美元。2022 年為 1,000 萬美元，而全年虧損為 41.2 美元。2022 年為 1000 萬美元，而全年虧損為 412 美元。萬。
• Our weighted average share count for the fourth quarter was 179 million shares.我們第四季的加權平均股數為 1.79 億股。
• Turning to the balance sheet, remains very strong with high levels of liquidity.轉向資產負債表，流動性水準仍然非常強勁。
• Cash and cash equivalents at quarter end were $152.8 million, and we continued to carry no debt.季末現金和現金等價物為 1.528 億美元，我們繼續沒有債務。
• Accounts receivable were $25.9 million compared to $17.6 million in the prior quarter, reflecting a product shipment pattern that was less linear than prior quarters.應收帳款為 2,590 萬美元，而上一季為 1,760 萬美元，反映出產品出貨模式的線性度低於前幾季。
• It wasn't a surprise as we had significant demand in December from our mobile customers.這並不奇怪，因為我們的行動客戶在 12 月有大量需求。
• Inventory increased to $23.2 million compared to $15.9 million in the prior quarter.庫存增加至 2,320 萬美元，而上一季為 1,590 萬美元。
• Similar to accounts receivable.類似應收帳款。
• We were not surprised by the near-term increase in inventory levels, which grew in anticipation of January shipments to the mobile market.我們對近期庫存水準的增加並不感到驚訝，庫存水準的成長是由於 1 月份行動市場出貨量的預期。
• Also, we procured additional silicon carbide substrates and epi wafers to support expected significant growth in the second half of the year in the EV, industrial and solar markets.此外，我們還購買了額外的碳化矽基板和外延晶圓，以支持電動車、工業和太陽能市場預計今年下半年的顯著成長。
• Moving on to guidance for the first quarter, we currently expect revenues of $23 million plus or minus $500,000 at the midpoint.轉向第一季的指導，我們目前預計收入中點為 2300 萬美元上下 50 萬美元。
• This represents substantial year-over-year growth of more than 70% over the $13.4 million we recorded in the first quarter of 2023 and is slightly down off of the fourth quarter of 2023, largely due to expected seasonality in our mobile business and some softness in the other markets as we already discussed.這比 2023 年第一季的 1,340 萬美元大幅同比增長超過 70%，比 2023 年第四季略有下降，這主要是由於我們行動業務的預期季節性和一些疲軟所致正如我們已經討論過的，在其他市場。
• Gross margins for the first quarter are expected to be approximately 41%-plus or minus 50 basis points as our mix continues to lean more towards the mobile market in the near term.由於我們的產品組合在短期內繼續更傾向於行動市場，預計第一季的毛利率約為 41%，上下浮動 50 個基點。
• As we move through the year, we expect improving margins aligned with an expected recovery in higher-margin markets, including EV and industrial in the second half of 2024.隨著今年的發展，我們預計利潤率的提高將與利潤率較高的市場（包括電動車和工業市場）在 2024 年下半年的預期復甦相一致。
• In total, operating expenses in the first quarter, excluding stock-based comp and amortization of intangibles, are expected to be approximately $21.5 million.總的來說，第一季的營運費用（不包括股票補償和無形資產攤銷）預計約為 2,150 萬美元。
• We continue to invest in growth oriented initiatives for our end markets.我們繼續投資於終端市場的成長導向計劃。
• As we have indicated before, we expect increases in our spending will be substantially less and growth in our revenues as we continue to see leverage in our business model and put that in perspective compared to the first quarter of 2023 at the midpoint of our guidance, we expect revenues in the first quarter of 2024 to grow more than 70%, yet operating expenses based on our guidance, our expected growth only 20% over the same period.正如我們之前所指出的，我們預計我們的支出成長將大幅減少，而我們的收入成長將大幅減少，因為我們繼續看到我們的業務模式中的槓桿作用，並與2023 年第一季我們指導的中點相比，正確地看待這一點，我們預計 2024 年第一季營收將成長 70% 以上，但根據我們的指導，營運費用同期成長僅為 20%。
• For the first quarter of 2024, we expect our weighted average share count to be approximately 180 million shares.2024 年第一季度，我們預計加權平均股數約為 1.8 億股。
• Stock-based compensation to be approximately $13 million and amortization of intangible assets to be approximately $5 million.股票薪酬約 1,300 萬美元，無形資產攤提約 500 萬美元。
• In closing, we're extremely pleased with the results for the quarter and for all of fiscal 2023.最後，我們對本季和 2023 財年全年的業績感到非常滿意。
• Our results continue to demonstrate that we can and expect to grow significantly faster than the overall market.我們的結果繼續表明，我們能夠並且預期會比整體市場成長得更快。
• While we are not immune to some of the same macro trends seen by others leading to more muted outlook for the first half of the year.儘管我們也不能倖免於其他人所看到的一些相同的宏觀趨勢，導致今年上半年的前景更加黯淡。
• We expect the strength of our pipeline and some market recovery in the second half of the year will support annual revenue growth of 40% to 50% in 2024 relative to 2023.我們預計下半年我們的產品線實力和市場復甦將支持 2024 年營收較 2023 年成長 40% 至 50%。
• Operator begin the Q&A session.操作員開始問答環節。

• Operator
• (Operator Instructions) Quinn Bolton, Needham.（操作員說明）
• Quinn Bolton，Needham。, congratulations on a strong finish to 2023 on most most metrics.再次恭喜 2023 年大多數指標都取得了強勁的成績。

• So you'll look pretty good, certainly the top line into next year, but the gross margin coming in a little late, you talked about the mix shift to mobile driving some of that lower margin in the near term, but Ron or Jean, could you give us a sense how do you see margins recovering through 2024?所以你看起來會相當不錯，當然是明年的收入，但毛利率來得有點晚了，你談到了向移動設備的混合轉變在短期內推動了一些較低的利潤，但羅恩或吉恩，您能否告訴我們您認為2024 年利潤率將如何恢復？
• Can you give us sort of any thoughts on where margin might exit 2024?您能否給我們一些關於 2024 年保證金可能退出的想法？
• And then I've got a follow-up question.然後我有一個後續問題。

• Gene Sheridan - Co-Founder & CEO
• Yes, sure.是的，當然。
• Thanks, Quinn.謝謝，奎因。
• This is Gene.這是吉恩.
• As you commented and we explained the margins are a little bit more muted in the first half of the year, just purely due to market mix and the strength of the mobile market and most other markets are a little softer in the first half of the year as we anticipate automotive and industrial strengthening the back half of the year, but also the four major growth drivers that I highlighted on AI data centers ramping in the later part of the year, the Tier one appliance on project ramping later in the year, again, starting at Solar later in the year, even the Internet satellite project.正如您所評論的，我們也解釋過，上半年的利潤率有點低迷，這純粹是由於市場組合和移動市場的強勁，而大多數其他市場在今年上半年略顯疲軟正如我們預計汽車和工業將今年下半年加強，而且我強調的人工智慧資料中心的四個主要成長驅動力將在今年下半年增加，一級設備項目將在今年稍後再次增加，今年稍後開始太陽能項目，甚至是互聯網衛星專案。
• All of these are expected to be above that average.所有這些預計都將高於平均水平。
• So all of these will contribute to a modest margin improvement throughout the year.因此，所有這些都將有助於全年利潤率的小幅改善。
• We expect to end the year still still below mid 40s, but we'll see incremental improvement in Q3 and Q4.我們預計年底仍將低於 40 多歲，但我們將在第三季和第四季看到逐步改善。

• Quinn Bolton - Analyst
• Thank you, Gene.謝謝你，吉恩。
• And my next question and I may have asked you this in the past, but just kind of walking the show floor here in A-Pac, if you see GaN all over the place, I know you guys are targeting a lot of the higher power GaN to 650 volts and above, but it seems like there's increasing opportunity in kind of lower-power mid-power GaN as well.我的下一個問題，我過去可能問過你們這個問題，但只要走在 A-Pac 的展廳，如果你們看到到處都是 GaN，我知道你們的目標是很多更高功率的產品GaN 電壓可達650 伏特及以上，但低功率中功率GaN 的機會似乎也越來越多。
• And just wondering, as you guys continue to grow, do you have any revised thoughts on potentially expanding the product portfolio to below a 650 volt GaN technology?只是想知道，隨著你們的不斷發展，你們對於將產品組合擴展到 650 伏特 GaN 技術以下的可能性有什麼修改想法嗎？
• Because again, it seems like there's some pretty good opportunities in that lower mid-power market as well.因為，中低功率市場似乎也存在一些相當好的機會。

• Gene Sheridan - Co-Founder & CEO
• I think if they are fully fully agree, Quinn, and that is definitely of interest.我認為如果他們完全同意，奎因，那肯定很有趣。
• It's an area that we're working on actively.這是我們正在積極努力的一個領域。
• We don't have a specific on launch schedule development schedule to share.我們沒有特定的發布計劃和開發計劃可供分享。
• We certainly got our hands full with all the opportunities at 650 volts.我們確實充分利用了 650 伏特的所有機會。
• But I agree with you.但我同意你的觀點。
• I think there's great opportunity for lower GaN and it's something we plan to pursue over time.我認為較低的 GaN 存在著巨大的機會，這是我們計劃隨著時間的推移而追求的目標。

• Quinn Bolton - Analyst
• Perfect.完美的。
• We'll both take and I'll go back in the queue.我們都會接受，我會回到隊列。
• Thank you.謝謝。
• Thanks, excellent.謝謝，太棒了。

• Operator
• Ross Seymore, Deutsche Bank.羅斯·西莫爾，德意志銀行。

• Ross Seymore - Analyst
• Please go ahead and ask your question.請繼續提出你的問題。
• And Ron and Jennifer, congrats to both your transitions.羅恩和詹妮弗，恭喜你們的轉變。
• I guess my question for this year is being second half weighted is no different than a lot of the peers.我想我今年的問題是下半年的加權與許多同業沒有什麼不同。
• But just how second half weighted do you expect it to be?但你預計下半場的權重是多少呢？
• Do you expect to grow sequentially in the second quarter?您預計第二季會較上季成長嗎？
• Is it going to be much more of a stair step up as inventories normalize and a lot of these new design wins come in the second half?隨著庫存正常化並且許多新設計的勝利將在下半年出現，這是否會更加階梯式上升？

• Gene Sheridan - Co-Founder & CEO
• Yes, sure.是的，當然。
• Thanks, Ross.謝謝，羅斯。
• Yes, not too dissimilar than prior years.是的，與往年相比並沒有太大差異。
• It's probably in the range of 40%, 60%.大概在40%、60%之間。
• That's similar to what we saw last year.這與我們去年看到的情況類似。
• And so I don't think there's much surprise there.所以我認為這沒什麼令人驚訝的。

• Ross Seymore - Analyst
• Okay.好的。
• I guess as my follow-up, you talked about a ton of design wins ramping at various times and some really meaningful dollar amounts.我想作為我的後續行動，您談到了在不同時期取得的大量設計勝利以及一些真正有意義的金額。
• How do you think the mix of the company changes by end markets.您認為公司的結構會因終端市場而產生什麼樣的變化？
• You guys had talked a little bit about how the split was between mobile and appliance, et cetera.你們已經討論過行動裝置和裝置之間的區別，等等。
• How is that in 2023?2023 年情況如何？
• And how do you expect that to transition您預計這種情況會如何轉變
• (technical difficulty)?（技術難度）？

• Gene Sheridan - Co-Founder & CEO
• Yes, yes.是的是的。
• Definitely, '23 saw a really nice surge in mobile.毫無疑問，23 年行動領域出現了非常好的成長。
• That's continuing.這還在繼續。
• As we explained in early this year.正如我們在今年年初所解釋的那樣。
• That surge took mobile over 40%.這一激增使行動裝置佔比超過 40%。
• The other markets we're in that 10% to 20% range.其他市場則處於 10% 到 20% 的範圍內。
• I think we'll see that shift back throughout the year, given the anticipated recovery and in industrial and EV, but also the ramps we've talked about a data center is brand new for us that's really coming off of a zero base appliance strengthening with that strong pipeline and that major new Tier one project, that one of ramps of GaN and SiC both ramping into solar in the second half of the year.我認為，考慮到工業和電動車領域的預期復甦，我們將在今年看到這種轉變，而且我們談到的資料中心的坡道對我們來說是全新的，這確實是從零基礎設備強化中走出來的憑藉強大的管道和主要的新一級項目，GaN 和 SiC 的斜坡之一將在今年下半年進入太陽能領域。
• So I think we'll see it balance out pretty nicely where the mobile goes below 40% and the other markets creep up from there 10% to 20%.因此，我認為我們會看到行動市佔率低於 40%，而其他市場則從 10% 攀升至 20%，從而實現良好的平衡。

• Ross Seymore - Analyst
• Thank you.謝謝。

• Operator
• Kevin Cassidy, Rosenblatt Securities.凱文·卡西迪，羅森布拉特證券公司。

• Kevin Cassidy - Analyst
• Yes.是的。
• Thanks for taking my question and congratulations on the good results.感謝您提出我的問題並祝賀取得了良好的結果。
• And Rob, happy trails and Janet look forward to working with you.羅布、快樂小徑和珍妮特期待與您合作。
• And on the mobile market, you mentioned that GaN is about 30% market share.在行動市場上，您提到GaN約佔30%的市佔率。
• Do you see that market share growing in the mobile chargers or is this going to be steady state or maybe what do you see as the growth rate in the mobile market for GaN?您認為行動充電器的市場佔有率是否在成長，或者這會保持穩定狀態，或者您認為 GaN 行動市場的成長率是多少？

• Gene Sheridan - Co-Founder & CEO
• Yes.是的。
• Thanks, Kevin.謝謝，凱文。
• Good question.好問題。
• And that 30% was specific to Xiaomi and also kind of leading the charge, so to speak of.這 30% 是小米特有的，可以說是處於領先地位。
• But I think most again, mobile is probably still single digit adoption rates.但我再次認為，行動裝置的採用率可能仍然是個位數。
• So we don't believe there's any limit to switching.所以我們不認為轉換有任何限制。
• I think ultimately, all of the silicon chargers will move to again over time.我認為最終，隨著時間的推移，所有矽充電器都會再次轉移。
• Part of that dynamic is not just driven by our technology or by the customer choice but but also the power levels moving up.這種動態的部分原因不僅是由我們的技術或客戶的選擇所驅動的，而且還包括功率等級的提高。
• So as the whole world goes from slow chargers, which are five, 10, 15, 20 watts, where GaN has and bring much value to fast chargers in the 30, 40 50 watts.因此，隨著全世界逐漸放棄 5、10、15、20 瓦的慢速充電器，GaN 為 30、40、50 瓦的快速充電器帶來了很大的價值。
• And then ultimately, the ultrafast chargers were really, really strong at 100 watts or higher.最終，超快充電器在 100 瓦或更高功率下非常非常強勁。
• There's no limit to switching everything over from silicon again.再次從矽上轉換一切是沒有限制的。
• So it's just a question of time.所以這只是時間問題。
• And I think the growth rates between now and then we'll continue pretty strongly.我認為從現在到那時我們的成長率將繼續保持強勁。

• Kevin Cassidy - Analyst
• And maybe if we look at the other markets that you're penetrating now 20 design wins in data center and the home appliances that I mean, can you draw parallel to the mobile market for where those markets will be going yes, I think it's almost identical.也許如果我們看看您現在正在滲透的其他市場，我的意思是，在資料中心和家用電器方面獲得了20 項設計勝利，您能否將這些市場的發展方向與行動市場進行比較，是的，我認為這幾乎是完全相同的。

• Gene Sheridan - Co-Founder & CEO
• I think you'll see these first few leader type performance examples, setting the example for the whole industry, once you get your first beachhead customers, beachhead applications within the market tends to be on the high end.我想您會看到這些前幾個領導者類型的性能示例，為整個行業樹立了榜樣，一旦您獲得了第一批搶灘客戶，市場中的搶灘應用往往處於高端。
• It sets an example for others proves that the value is there that the quality, the reliability, everything is there.它為其他人樹立了榜樣，證明價值就在那裡，品質、可靠性，一切都在那裡。
• And that we see a pretty effective domino zone occurrence over the subsequent years were one project leads to 2 leads to 4 leads to 16 and things start to grow exponentially.我們看到在接下來的幾年裡，骨牌效應非常有效，一個項目導致 2 個線索，4 個線索，最後 16 個線索，事情開始呈指數級增長。
• So I think you can look back at what's happened, what we've led in mobile chargers just in the last three years, and we anticipate the same sort of domino effect the same sort of accelerating adoption to occur in each of these new markets with their own sort of S-curve adoption.因此，我認為您可以回顧一下發生的事情，過去三年我們在移動充電器領域取得的領先地位，我們預計這些新市場中將會出現同樣的多米諾骨牌效應，同樣的加速採用他們自己採用的S曲線。

• Kevin Cassidy - Analyst
• Okay, great.好的，太好了。
• Thank you.謝謝。

• Gene Sheridan - Co-Founder & CEO
• Thanks, Kevin.謝謝，凱文。

• Operator
• Tristan Gerra from Baird.來自貝爾德的特里斯坦·傑拉。
• This is Tyler on for Tristan.這是特里斯坦替補的泰勒。
• Thanks for taking the questions.感謝您提出問題。
• We noticed that anchor is advertising GaN prime on their website as a for a home backup solution.我們注意到，anchor 在其網站上宣傳 GaN prime 作為家庭備份解決方案。
• They're advertising their products with your technology as a core competency.他們以您的技術作為核心競爭力來宣傳他們的產品。
• Could you please remind us how GaN prime represents a step-up in performance, the potential size and growth of the home backup market and your content in these boxes?您能否提醒我們 GaN prime 如何代表效能的提升、家庭備份市場的潛在規模和成長以及您在這些盒子中的內容？

• Gene Sheridan - Co-Founder & CEO
• Yes.是的。
• Great.偉大的。
• Great.偉大的。
• I'm glad you caught that and we love the fact that we've got no major players featuring game right into headline.我很高興你注意到了這一點，我們很高興我們沒有主要玩家將遊戲直接納入標題。
• In fact, Acre, I think positions and ourselves as the largest GaN charger line in the world.事實上，我認為 Acre 將自己定位為世界上最大的 GaN 充電器產品線。
• And while we're not the exclusive supplier, we're a major supplier to anchor it.雖然我們不是獨家供應商，但我們是錨定它的主要供應商。
• And this whole positioning obviously benefits the whole industry.而這個整體定位顯然有利於整個產業。
• It certainly benefits Novitas that again, prime products in particular can be up to 50% size reduction.這無疑使 Novitas 受益匪淺，特別是優質產品的尺寸可以減小多達 50%。
• I'm up to 30% energy efficiency improvement on an all.我的能源效率整體提高了 30%。
• And we're now actually at system cost parity.我們現在實際上處於系統成本平價。
• So they're not of demanding a price premium and in that solution.因此，他們並不要求該解決方案價格溢價。
• So all of those same benefits that we've seen at Opel, Xiaomi and so many other Samsung S24 applied again, prime family.因此，我們在歐寶、小米和許多其他三星 S24 上看到的所有相同優勢再次適用，prime 系列。
• Operator, back to you for any follow-up questions.接線員，如果有任何後續問題，請回覆您。

• Operator
• Jon Tanwanteng, CJS Securities.Jon Tanwanteng，CJS 證券。

• Jon Tanwanteng - Analyst
• Thanks for taking my questions.感謝您回答我的問題。
• Gene, I was wondering if you would expect a 50% or more growth when you own at your investor event in December, what are the biggest changes from there?Gene，我想知道當您在 12 月的投資者活動中持有股票時，您是否會預期 50% 或更多的成長，最大的變化是什麼？
• Or is it mostly automotive and inventory issues and maybe some solar in there or is it more broad-based than that?或者主要是汽車和庫存問題，也許還有一些太陽能問題，或者是比這更廣泛的問題？
• Just help me understand what some what's changed in the pipeline for you.請幫助我了解管道中為您所做的一些更改。

• Gene Sheridan - Co-Founder & CEO
• Yes.是的。
• Yes, John, that's exactly right.是的，約翰，完全正確。
• The last two months, 2.5 months, we've seen the slowdown as many have commented about.過去兩個月，即 2.5 個月，我們看到了許多人評論的經濟放緩。
• So really it's not a decline.所以實際上這並不是下降。
• It's just slower growth in EV and slower growth in industrial.只是電動車成長放緩，工業成長放緩。
• Anytime you get an adjustment in growth rates, you get pockets of inventory that build up, forecasts come down temporarily to kind of swallow that change in growth rate deal with that pocket of inventory, we see that a bit in the channel.每當你對成長率進行調整時，你就會得到一些庫存的積累，預測會暫時下降到某種程度，成長率的變化會處理那部分庫存，我們在通路中看到了這一點。
• And so by all of our indications, we think that in a couple of quarters, and that's added to our more muted expectations for the first half of the year.因此，根據我們所有的跡象，我們認為在幾個季度內就會出現這種情況，這增加了我們對今年上半年的更溫和的預期。

• Jon Tanwanteng - Analyst
• Got it.知道了。
• Thank you.謝謝。
• And then is there any update on just how operating expenses are expected to own a step up this year, especially with the lower growth expectations?那麼，今年營運支出預計將如何增加，特別是在成長預期較低的情況下，是否有任何最新消息？

• Gene Sheridan - Co-Founder & CEO
• Yes, sure.是的，當然。
• Maybe this is a good chance for Janet to jump in and share repos.也許這對 Janet 來說是一個參與並分享儲存庫的好機會。

• Janet Chou - Chief Financial Officer, Executive Vice President, Treasurer
• Hi.你好。
• We have a very disciplined, disciplined way to manage our OpEx.我們有非常嚴格、嚴格的方式來管理我們的營運支出。
• We see a lot of operating leverage as we scale off of revenue right now, as you can see from our guidance, we guided Q1 to grow revenue at 70% versus OpEx growth of 20%.隨著我們現在縮減收入，我們看到了很多營運槓桿，正如您從我們的指導中看到的那樣，我們指導第一季收入成長 70%，而營運支出則成長 20%。
• We will continue to monitor our headcount plan to make the necessary investment to drive profitable growth, and we laid out our long-term target model in our Investor Day we still remain committed to that.我們將繼續監控我們的員工計劃，以進行必要的投資來推動獲利成長，我們在投資者日制定了我們的長期目標模型，我們仍然致力於這一目標。
• For the longer term, we're working towards to achieve OpEx level at 20% to 30%.從長遠來看，我們正在努力實現 20% 至 30% 的營運支出水準。

• Jon Tanwanteng - Analyst
• Okay, great.好的，太好了。
• Thank you for that.謝謝你。
• And I know just any update on the time line to either EPS breakeven or cash flow breakeven or profitability?我知道每股獲利損益平衡或現金流損益平衡或獲利能力的時間線是否有任何更新？

• Gene Sheridan - Co-Founder & CEO
• We're not giving specific updates on long-term model, although committed to it over the next few years.儘管我們致力於在未來幾年內實現這一目標，但我們不會提供長期模型的具體更新。
• I think profitability is still targeted for $50 million a quarter.我認為每季獲利目標仍為 5,000 萬美元。
• Where we hit that, I think depends on market dynamics and of course.當然，我認為我們的目標取決於市場動態。
• So overall growth rates.所以總體成長率。

• Jon Tanwanteng - Analyst
• Okay, great.好的，太好了。

• Janet Chou - Chief Financial Officer, Executive Vice President, Treasurer
• Thank you.謝謝。

• Operator
• Jack Egan, Charter Equity Research.傑克·伊根，特許股票研究。

• Jack Egan - Analyst
• Please go ahead because Thanks for taking the questions.請繼續，因為感謝您提出問題。
• I have a couple on some of your end markets and how our GaN and SiC the interplay between those.我有一些關於你們的一些終端市場的信息，以及我們的 GaN 和 SiC 如何在它們之間相互作用。
• And so of course, there's a lot of buzz around ULAI., particularly with the big infrastructure build-outs going on.當然，圍繞 ULAI 有很多討論，特別是隨著大型基礎設施建設的進行。
• And so I was just curious about your approach to that market since both SiC and GaN can be used in data center.因此，我只是對你們進入該市場的方法感到好奇，因為 SiC 和 GaN 都可以用於資料中心。
• So and will those kind of be fighting for the same slots?那麼，這些人會爭奪同樣的位置嗎？
• Or can they coexist in those applications at different power levels or performance measures?或者它們可以在不同功率等級或性能指標的應用中共存嗎？
• Just anything that would be helpful.任何有幫助的事情都可以。

• Gene Sheridan - Co-Founder & CEO
• Yes, it's a great topic.是的，這是一個很棒的主題。
• A really interesting one for us.對我們來說非常有趣。
• We've got this our data center design center that designs the entire power supply.我們的資料中心設計中心負責設計整個電源。
• So we have really deep system expertise and now we've got leading edge and leading edge silicon carbide.因此，我們擁有非常深厚的系統專業知識，現在我們擁有領先的碳化矽技術。
• So we're in a unique position to figure the right answers to exactly that question.因此，我們處於獨特的位置，可以找到該問題的正確答案。
• And it's actually not very non, and it's not very intuitive it's not very easy even for our customers to figure out, but we're doing some really of exciting work going on exactly that.事實上，它並不是很不，也不是很直觀，即使對我們的客戶來說也不是很容易弄清楚，但我們正在做一些非常令人興奮的工作。
• A combination of silicon carbide and GaN.碳化矽和氮化鎵的組合。
• There's actually two stage stages in the power converter.電源轉換器實際上有兩級。
• The first stage are called power factor correction, but we're using silicon carbide often in that stage, followed by DC to DC converter stage with gallium nitride.第一級稱為功率因數校正，但我們在該級中經常使用碳化矽，然後是使用氮化鎵的直流到直流轉換器級。
• That kind of takes advantage of the strength of each of the technology, silicon carbide being more mature and very proven on its robustness facing the grid gallium nitride, achieving very high frequency and high efficiency in that DC-to-DC converter.這種方式利用了每種技術的優勢，碳化矽更加成熟，並且在面對氮化鎵柵極時的魯棒性得到了充分證明，在直流-直流轉換器中實現了非常高的頻率和高效率。
• So there's a lot more to that story than touching here, but you brought up a really important point you're going to see a lot of interesting.這個故事的內容遠不止於此，但你提出了一個非常重要的觀點，你會看到很多有趣的內容。
• We call them kind of hybrid designs where we leverage both GaN and some private, not only for this data center space, but other others in that one to 20 kilowatt area like onboard chargers.我們稱之為混合設計，其中我們同時利用 GaN 和一些專用裝置，不僅用於該資料中心空間，還用於 1 至 20 千瓦區域的其他其他區域，例如車載充電器。
• So you'll see a lot more developments in that area.所以你會看到該領域有更多的發展。

• Jack Egan - Analyst
• Right.正確的。
• Okay.好的。
• That's helpful.這很有幫助。
• And then similarly on the automotive side, so you're expecting GaN to ramp for that later this year.在汽車方面也是如此，因此您預計 GaN 將在今年稍後實現這一目標。
• And we're seeing more OEMs move to or at least announced on 800 volt system.我們看到越來越多的 OEM 轉向或至少宣布採用 800 伏特系統。
• And so I'm curious how that changes the opportunity or I guess the mix of silicon carbide and GaN and some of those automotive applications just because silicon carbide sometimes can be higher better at higher voltages.所以我很好奇這會如何改變機會，或者我猜碳化矽和 GaN 的混合以及其中一些汽車應用只是因為碳化矽有時在更高的電壓下可以更高更好。
• But you still have the benefits of that high frequency for GAN where it can function.但您仍然可以享受 GAN 發揮作用的高頻率的好處。
• So with more 800 volt systems, would it change your outlook at all?那麼，如果使用更多 800 伏特系統，它會徹底改變您的看法嗎？
• Or is it really kind of a wash for you since you do both silicon carbide and GaN?或者說，既然您同時生產碳化矽和氮化鎵，這對您來說真的是一種洗禮嗎？

• Gene Sheridan - Co-Founder & CEO
• Well, certainly that's the beauty of it, whatever way the market goes.嗯，當然這就是它的美妙之處，無論市場走向如何。
• And I think for interval data in the Gulf are going to coexist for a long, long time at a high level, just like you described, the 800 volt is a better fit for the 1,200 volt silicon carbide for Interval could be either frankly.我認為海灣地區的間隔數據將在很長一段時間內以高水平共存，就像您所描述的那樣，坦率地說，800 伏特更適合 1,200 伏特碳化矽。
• But we see a lot of that moving to GaN or a combination again of GaN and silicon carbide.但我們看到很多技術正在轉向 GaN 或 GaN 和碳化矽的組合。
• I would point out, though, even for an eight interval battery when you plug it into it, single-phase AC input, which runs 110 to 220 volt, you could actually use gallium nitride on that first phase, followed by the silicon carbide, which then sees the 800 volt battery to charge that battery.不過，我要指出的是，即使對於八節電池，當您將其插入單相交流輸入（運行電壓為110 至220 伏特）時，您實際上也可以在第一相上使用氮化鎵，然後使用碳化矽，然後它會看到 800 伏特電池來為該電池充電。
• So here again, I think the combination of having both technologies puts us in a really unique position to figure out the right approach and whichever approach is going to win, whether it's affordable 300 volts and we're going to we're going to benefit from it.因此，我再次認為，兩種技術的結合使我們處於一個非常獨特的位置，可以找出正確的方法，無論哪種方法都會獲勝，無論是負擔得起的 300 伏特電壓，我們都會受益從中。

• Jack Egan - Analyst
• Great thanks.萬分感謝。

• Gene Sheridan - Co-Founder & CEO
• Thank you, Jack.謝謝你，傑克。

• Operator
• Richard Shannon, Craig Hallum.理查德·香農，克雷格·哈勒姆。

• Richard Shannon - Analyst
• Great.偉大的。
• Thanks, guys for taking my question.謝謝你們回答我的問題。
• I'm thinking of a follow-up from a prior question here, really thinking about your yearly revenue growth by end market.我正在考慮之前問題的後續內容，真正考慮終端市場的年收入成長。
• Wondering if you actually answered the last question about talking about mobile being about 40% and going below as the other ones ramp up here.想知道您是否真的回答了最後一個問題，即行動裝置佔比約為 40%，並且隨著其他行動裝置佔比的增加而下降。
• Maybe asking a different way here anyway that you could you rank order kind of the dollar contributors to growth here by end market.無論如何，也許在這裡問一個不同的方式，你可以按終端市場對美元對成長的貢獻者進行排序。
• I would assume mobile is probably the biggest given it's starting at 40%.我認為行動裝置可能是最大的，因為它的起始比例為 40%。
• But if we get a sense of how much dollar growth we're adding in some other ones that might be a not obvious from how you've described the opportunity you're seeing energy?但是，如果我們了解我們在其他一些方面增加了多少美元成長，那麼從您所描述的能源機會來看，這可能並不明顯？

• Gene Sheridan - Co-Founder & CEO
• Yes, thanks, Richard.是的，謝謝，理查。
• It's a tough one to call.這是一個很難打電話的事情。
• I gave a bunch of numbers on the data centers is coming off a base of zero.我給了一堆關於資料中心的數字，這些數字是從零開始的。
• So I said $3 million to $5 million in the second half of the year.所以我說下半年300萬到500萬美元。
• So that's still going to be on the smaller side compared to everything else on appliance has been a great strength area for us, especially when mobile was a bit down, and that's going to pick up strongly in the second half of the year.因此，與家電領域的其他領域相比，這仍然是較小的方面，這對我們來說是一個很大的優勢領域，特別是當行動業務有點下滑的時候，而這將在今年下半年強勁回升。
• I think the other markets depend a little bit on how the market recovers to.我認為其他市場在一定程度上取決於市場的恢復情況。
• We've got our product launches, which are going to give us some certainty of that growth that we outlined GaN going into solar, a bunch of additional silicon carbide going into solar, a bunch of overseas.我們已經推出了產品，這將為我們概述的 GaN 進入太陽能領域、大量額外的碳化矽進入太陽能領域、以及海外市場的成長提供一定的確定性。
• We talked about in silicon carbide that are ramping throughout the year.我們談到碳化矽全年都在成長。
• So it's pretty hard to predict, but it feels pretty balanced, honestly, to me, if you look at what's going to add, you know, $20 million or $30 million to the back half of the year is going to be pretty broad-based across across each of those areas I just mentioned.所以很難預測，但老實說，對我來說，感覺相當平衡，如果你看看將要增加的內容，你知道，今年下半年的 2000 萬或 3000 萬美元將是相當廣泛的跨越我剛才提到的每一個領域。

• Richard Shannon - Analyst
• Okay.好的。
• Thanks for that clarification.感謝您的澄清。
• Jean, maybe following up here, thinking about your your new products that are ramping in here and you discussed some of them at your analyst event a couple of months ago.Jean，也許會繼續關注這裡，考慮一下您在這裡推出的新產品，您在幾個月前的分析師活動中討論了其中一些產品。
• And I think you even less I think even on the last conference call, you're talking about the new half bridge offering here, maybe doing $10 million run rate exiting this year.我認為你更不用說，即使在上次電話會議上，你也在談論新的半橋產品，今年可能會以 1000 萬美元的運行率退出。
• Wondering if that's still kind of in the range of what you're thinking.想知道這是否仍在您的想法範圍內。
• And then as you think about your other products like the bidirectional one and again, controlling again, safe to what degree are those going to be contributing to your revenues by, but by the end of the year?然後，當您一次又一次地考慮其他產品（例如雙向產品）時，再次控制，到年底，這些產品將在多大程度上為您的收入做出安全貢獻？

• Gene Sheridan - Co-Founder & CEO
• Yes.是的。
• Great questions, Richard, and thanks for noting all those exciting new products announcements on the on against an average.理查德，這是一個很好的問題，感謝您注意到所有這些令人興奮的新產品發布。
• We're especially excited about the motor versions we've created, which are then tuned Worley for appliance motor in general, but appliance in particular.我們對我們創建的電機版本感到特別興奮，這些電機版本隨後經過 Worley 調整，適用於一般家電電機，特別是家電電機。
• And that major Tier 1 that's driving $10 million a year starting late this year is actually adopting that motor version of our GaN since average.從今年稍後開始，每年帶來 1000 萬美元收入的主要一級供應商實際上自平均以來就採用了我們的 GaN 馬達版本。
• And not only that they're pushing it to a frequency efficiency and density that nobody's ever seen before.不僅如此，他們還將其頻率效率和密度推向了前所未有的水平。
• So we're super excited.所以我們非常興奮。
• Once those products come out, they tend to set an example for the whole industry.這些產品一旦問世，往往為整個產業樹立榜樣。
• There's a lot of reverse engineering that we expect will happen and it will it will likely lead to a nice domino effect of even more.我們預計將會發生許多逆向工程，這可能會導致更多的骨牌效應。
• And we've already got a pretty strong appliance pipeline going against safe.我們已經擁有了相當強大的設備管道來對抗安全。
• I mentioned sort of throughout because, again, safe is really our high-power you get above 1,000 watts can safe is our answer the most protected, most reliable, most safe, but even a 20-year warranty to back it up, and that's going into solar later this year going into the data centers that's going into EV.我在整個過程中都提到過，因為，再次強調，安全性實際上是我們的高功率，您獲得的功率超過1,000 瓦可以安全是我們的答案，最受保護、最可靠、最安全，甚至還有20 年保固來支持它，這就是今年稍後將進入太陽能領域，進入數據中心，然後進入電動車領域。
• So almost across the board in those areas and the others.所以在這些領域和其他領域幾乎都是全面性的。
• You mentioned Janssen control is a big part of our mobile charger space.您提到詹森控制是我們行動充電器領域的重要組成部分。
• I didn't specifically highlight it, but that's a really nice growing family that's going first into a lot of aftermarket chargers today, and we expect that going into a lot more inbox in Tier one global players in the future.我沒有特別強調這一點，但這是一個非常好的成長中的家庭，今天首先進入許多售後市場充電器，我們預計未來會進入更多的一級全球參與者的收件匣。

• Richard Shannon - Analyst
• Okay, perfect.好的，完美。
• Thank you, guys.感謝你們。

• Gene Sheridan - Co-Founder & CEO
• Thanks, Richard.謝謝，理查。

• Operator
• (Operator Instructions) Kevin Cassidy, Rosenblatt Securities.（操作員指示）Kevin Cassidy，羅森布拉特證券。
• Thanks for letting me ask a follow-up.感謝您讓我詢問後續情況。
• And just generally if you could talk a little more about their relationships, maybe give some details, what were they making prior?一般來說，如果你能多談談他們的關係，也許提供一些細節，他們之前做了什麼？
• Or were they using GaN in the past or is this going to be their first scan products?或者他們過去使用過 GaN 還是這將是他們的首款掃描產品？

• Gene Sheridan - Co-Founder & CEO
• Yes, I know it's not a name.是的，我知道這不是一個名字。
• People would know, but they're actually a major onboard chargers supplier to top players like Honda, BYD, Honda and many others.人們會知道，但他們實際上是本田、比亞迪、本田等頂級廠商的主要車載充電器供應商。
• So for us, it's a super exciting way to kind of get access and into those cars in the future.所以對我們來說，這是一種超級令人興奮的方式，可以讓我們在未來獲得並使用這些汽車。
• The first projects here will actually be silicon carbide for onboard chargers.這裡的第一個項目實際上是用於車載充電器的碳化矽。
• And we'd I do believe it's going to be their first implementation of silicon carbide and certainly with us and those are already underway expected to launch early next year.我確實相信這將是他們首次實施碳化矽，當然也是我們，這些已經在進行中，預計將於明年初推出。
• Okay, great.好的，太好了。
• Thanks, guys.多謝你們。
• Thanks, Kevin.謝謝，凱文。

• Operator
• Joe Moore from Morgan Stanley.摩根士丹利的喬摩爾。
• Please go ahead.請繼續。

• Joe Moore - Analyst
• Great.偉大的。
• Thank you.謝謝。
• They know at CES and at recent conferences, you had talked a lot about the specific opportunities in data center around AI servers.他們知道在 CES 和最近的會議上，您談論了許多有關人工智慧伺服器的資料中心的具體機會。
• And just given the very high power on those servers that there should be opportunity for organic.考慮到這些伺服器的能力非常高，應該有有機的機會。
• And can you just talk about that specifically with a eye when you could start to see that be a much more material revenue contributor?當你開始看到這是一個更物質的收入貢獻者時，你能具體地談論這一點嗎？

• Gene Sheridan - Co-Founder & CEO
• Yes.是的。
• Thanks, Joe. It's a big one.謝謝，喬。這是一個很大的。
• And I think we're still a bit tip of the iceberg here.我認為我們只是冰山一角。
• We've got 20 projects in development.我們有 20 個項目正在開發中。
• They're all going to production throughout this year.它們都將在今年投入生產。
• So my estimated $3 million to $5 million revenue impact for the second half of the year, we've had meetings with a lot of the AI. guys and the numbers, the power requirements, the current requirements keep going up and up over the next one to three years.因此，我估計下半年的收入影響將達到 300 萬至 500 萬美元，我們已經與許多人工智慧人士舉行了會議。夥計們，數字、功率需求、電流需求在未來一到三年內不斷增加。
• I mentioned on my remarks, 1,000 to 2000 amps per processor.我在發言中提到，每個處理器 1,000 到 2000 安培。
• So I think this ripple effect on how the power has to get delivered is still really being worked out by the industry and the numbers keep going up on our in our system design centers, designing things that we never thought was possible a year ago, 4.5 kilowatts is unprecedented in a specific form factor that that's going to power all those processors and other pushing us to go to 5.5, 6.5 kilowatts, even even higher.因此，我認為業界仍在研究如何提供電力的連鎖反應，並且我們的系統設計中心的數字不斷增加，設計出一年前我們從未認為可能的東西，4.5千瓦在特定外形尺寸上是前所未有的，它將為所有這些處理器和其他處理器提供動力，推動我們達到5.5、6.5 千瓦，甚至更高。
• So and I think this is all about the data center today.所以我認為這就是當今資料中心的全部內容。
• But ultimately, these AI chips end up in driver of self-driving cars.但最終，這些人工智慧晶片最終會成為自動駕駛汽車的駕駛者。
• These AI chips end up in the client and on the edge computing.這些人工智慧晶片最終出現在客戶端和邊緣運算中。
• So I think it's early days.所以我認為現在還為時過早。
• And it's exciting because the power requirements are really unheard of.這是令人興奮的，因為功率需求確實是聞所未聞的。
• And that's exactly the kind of challenge we want to tackle with our System Design Center and with our gallium nitride and silicon carbide.這正是我們希望透過系統設計中心以及氮化鎵和碳化矽來應對的挑戰。

• Joe Moore - Analyst
• Great thinking.偉大的想法。

• Gene Sheridan - Co-Founder & CEO
• Thanks, Joe.謝謝，喬。

• Operator
• (Operator Instructions) As there are no further questions.（操作員說明）因為沒有其他問題了。
• I would like to thank our speakers for today's presentation, and thank you all for joining us.我要感謝今天的演講者的演講，並感謝大家加入我們。
• This now concludes today's conference.今天的會議到此結束。
• You may now disconnect.您現在可以斷開連線。