Ambarella Inc (AMBA) 2022 Q3 法說會逐字稿

Ladies and gentlemen, thank you for standing by, and welcome to the Ambarella's Third Quarter Fiscal Year 2022 Earnings Conference Call.

女士們、先生們，感謝大家的支持，並歡迎參加安霸 2022 財年第三季財報電話會議。

(Operator Instructions).

（操作員說明）。

Please be advised today's conference is being recorded.

請注意，今天的會議正在錄製中。

(Operator Instructions) It's now my pleasure to hand today's conference over to Louis Gerhardy, Corporate Development.

（操作員說明） 現在我很高興將今天的會議交給企業發展部門的 Louis Gerhardy。

Please go ahead, sir.

請繼續，先生。

Thank you, Holly.

謝謝你，霍莉。

Good afternoon, and thank you for joining our third quarter fiscal year 2022 financial results conference call for the 3 months ending October 31, 2021.

下午好，感謝您參加我們截至 2021 年 10 月 31 日的三個月的 2022 財年第三季財務業績電話會議。

With me on the call today is Dr. Fermi Wang, President and CEO; and John Young, VP of Finance.

今天與我一起參加電話會議的是總裁兼執行長 Fermi Wang 博士；和財務副總裁 John Young。

The primary purpose of today's call is to provide you with information regarding the results for the third quarter of our fiscal '22.

今天電話會議的主要目的是向您提供有關 22 財年第三季業績的資訊。

The discussion today and the responses to your questions will contain forward-looking statements regarding our projected financial results, financial prospects, market growth and demand for our solutions, among other things.

今天的討論和對您問題的答覆將包含有關我們預計財務業績、財務前景、市場成長和對我們解決方案的需求等的前瞻性陳述。

These statements are subject to risks, uncertainties and assumptions.

這些陳述受到風險、不確定性和假設的影響。

Should any of these risks or uncertainties materialize or should our assumptions prove to be incorrect, our actual results could differ materially from these forward-looking statements.

如果任何這些風險或不確定性成為現實，或者我們的假設被證明是不正確的，我們的實際結果可能與這些前瞻性聲明有重大差異。

And we're under no obligation to update these statements.

我們沒有義務更新這些聲明。

These risks, uncertainties and assumptions as well as other information on potential risk factors that could affect our financial results are more fully described in the documents we filed with the SEC, including the annual report on Form 10-K filed on March 31, 2021, for fiscal year '21 and ending January 31, 2021, and the Form 10-Qs filed on June 8 and September of 2021 for the first and second quarters, respectively, of fiscal year '22.

這些風險、不確定性和假設以及可能影響我們財務業績的潛在風險因素的其他資訊在我們向SEC 提交的文件中進行了更全面的描述，包括2021 年3 月31 日提交的10-K 表格年度報告， '21 財年至 2021 年 1 月 31 日結束的表格，以及分別於 2021 年 6 月 8 日和 9 月提交的 '22 財年第一季和第二季的 10-Q 表格。

Access to our third quarter fiscal '22 results press release, historical results, SEC filings and a transcript of our prepared remarks and a replay of today's call can be found on the Investor Relations portion of our website.

您可以在我們網站的投資者關係部分找到我們 22 年第三季財報業績新聞稿、歷史業績、美國證券交易委員會 (SEC) 備案文件以及我們準備好的發言稿和今天電話會議的重播。

Fermi will begin the call with a business update.

費米將首先介紹業務最新情況。

John will review the financials.

約翰將審查財務狀況。

And then Fermi, John and I will be available for your questions.

然後費米、約翰和我將回答你們的問題。

With that, I'll turn it over to Dr. Fermi Wang.

接下來，我將把它交給 Fermi Wang 博士。

Thank you, Louis, and good afternoon, everyone.

謝謝你，路易斯，大家下午好。

Before proceeding with our Q3 fiscal year '22 call, I want to note on November 9, we filed an 8-K stating that our CFO, Casey Ocular, will be taking a lever absence for health reasons.

在繼續我們的 22 財年第三季電話會議之前，我想在 11 月 9 日指出，我們提交了一份 8-K 聲明，我們的財務長 Casey Ocular 將因健康原因缺席。

We have received many of your kind thoughts and prayers, which we have shared with Casey and his family.

我們收到了你們許多善意的想法和祈禱，我們已與凱西和他的家人分享。

And we wish him a speedy recovery.

我們祝福他早日康復。

Meanwhile, John Young, VP Finance, has been named Interim Principal Financial Officer and Principal Accounting Officer during Casey's absence.

同時，財務副總裁 John Young 在凱西缺席期間被任命為臨時財務長和首席會計長。

On October 26, our strategy transformation into a deep learning AIoT processing company took another lead forward when we announced the acquisition of Oculii a provider of advanced algorithms for imaging radar systems.

10月26日，我們宣布收購成像雷達系統先進演算法供應商Oculii，深度學習AIoT處理公司的策略轉型又向前邁進了一步。

Oculii enables us to not only capture incremental perception business, but most importantly, feed our long-term strategy to provide a more comprehensive AIoT processing SoCs to our customers.

Oculii 不僅使我們能夠捕獲增量感知業務，而且最重要的是，滿足我們的長期策略，為我們的客戶提供更全面的 AIoT 處理 SoC。

I'm also pleased to report our market and financial momentum was strong with revenue slightly above the high end of our range of guidance, up 64% year-over-year.

我還很高興地報告，我們的市場和財務勢頭強勁，收入略高於我們指導範圍的上限，年增 64%。

Driven by a richer mix of CV SoCs, our average selling price continued to rise contributing to strong positive operating leverage with non-GAAP operating margins reaching 25% of revenue versus 5% a year ago.

在更豐富的 CV SoC 組合的推動下，我們的平均售價持續上漲，帶來了強勁的正營運槓桿，非 GAAP 營運利潤率達到收入的 25%，而一年前為 5%。

Supply dynamics remain a key challenge.

供應動態仍然是關鍵挑戰。

On 1 hand, we started to see an expected recovery in supply from Samsung's wafer fab in Texas.

一方面，我們開始看到三星位於德克薩斯州的晶圓廠的供應預計將恢復。

However, the shortages of other companies' components has become a more significant and gating factor to our results and outlook.

然而，其他公司零件的短缺已成為影響我們業績和前景的一個更重要的限制因素。

Despite these constraints, we are on track to achieve record revenue this year with the CV representing more than 25% of our revenue.

儘管有這些限制，我們今年預計將實現創紀錄的收入，CV 占我們收入的 25% 以上。

During Q3, the number of unique CV customers in production grew sequentially and quadruple versus a year ago.

第三季度，生產中的獨特 CV 客戶數量連續成長，與一年前相比翻了兩番。

Although today, on a cumulative basis, we have shipped more than 5 million CV SoCs, including more than 1 million into the automotive market.

儘管如今，我們累計出貨了超過 500 萬個 CV SoC，其中超過 100 萬個進入了汽車市場。

Our automotive revenue funnel is expanding.

我們的汽車收入管道正在擴大。

A year ago, we announced a 6-year discounted automotive revenue funnel of about $600 million.

一年前，我們宣布了 6 年折扣汽車收入管道約 6 億美元。

And using the SIM methodology, this figure has approximately tripled.

使用 SIM 方法，這個數字大約增加了兩倍。

We will provide more details on January 4 at our Capital Market Day.

我們將在 1 月 4 日的資本市場日提供更多詳細資訊。

I will now provide you with some examples of progress in our target markets.

我現在將為您提供一些我們目標市場取得進展的例子。

During the quarter, we were excited to see the AEVM, the American electric vehicle maker started customer delivery of its R1T truck.

本季度，我們很高興看到美國電動車製造商 AEVM 開始向客戶交付其 R1T 卡車。

The R1T's drivers features 11 cameras, 5 radars and 12 ultrasonic sensors to deliver true hands-free driving assistance along with a full set of safety features.

R1T 的駕駛員配備 11 個攝影機、5 個雷達和 12 個超音波感測器，可提供真正的免持駕駛輔助以及全套安全功能。

The R1T Drive Plus system utilized multiple CV2AQ CV automotive SoCs for its AI region processing.

R1T Drive Plus 系統利用多個 CV2AQ CV 汽車 SoC 進行 AI 區域處理。

Additionally, the R1T also used Andras CV2AQ CV4 automotive SoC for its surround view camera processing and the gear to our security system.

此外，R1T 還使用 Andras CV2AQ CV4 汽車 SoC 進行環景攝影機處理以及安全系統的裝備。

The Rivian design highlights the use brass AI lesion SoCs is centralized automotive computing applications.

Rivian 的設計強調使用黃銅 AI SoC 來實現集中式汽車運算應用。

These applications represent a major new opportunity for Ambarella's moving forward.

這些應用為 Ambarella 的發展帶來了重大的新機會。

And during the quarter, Chinese truck maker, Shaanxi, entered into mass production with an ADAS system, providing lens detection and for collision warning features.

本季度，中國卡車製造商陝西公司開始大量生產 ADAS 系統，提供鏡頭偵測和碰撞警告功能。

The system is based on Ambarella's CV22 automotive AI SoC and is supplied by Tier 1 along.

該系統基於 Ambarella 的 CV22 汽車 AI SoC，由 Tier 1 提供。

In the aftermarket automotive dash camera market, European market leader, Nextbase announced a pilot program with Uber for its 232 GW-cam.

在售後汽車行車記錄器市場，歐洲市場領導者 Nextbase 宣布與 Uber 合作實施其 232 GW 攝影機試點計畫。

The dual camera design is based on Ambarella's A12 SoC and includes a cabin view camera that use infrared night vision technology and wide-angle 140-degree angle lens to provide an actual level of security for Uber drivers and writers.

雙鏡頭設計基於 Ambarella 的 A12 SoC，包括一個採用紅外線夜視技術和廣角 140 度角鏡頭的車艙視圖攝像頭，為 Uber 司機和作家提供實際級別的安全性。

Also in the dash camera market, Korean market leader, I think were introduced its QXD-7000-and QX5500-HDD designs based on Ambarella's H22 and A12 automotive SoCs.

同樣在行車記錄器市場，韓國市場領導者也推出了基於 Ambarella 的 H22 和 A12 汽車 SoC 的 QXD-7000 和 QX5500-HDD 設計。

The QXD 7000 includes a radar support mode that helps to create video 10 seconds before impact, while both models offer ADAS features, including full collective warning 4 vehicle star alert and the land departure warning.

QXD 7000 包括雷達支援模式，有助於在撞擊前 10 秒創建視頻，同時兩種型號均提供 ADAS 功能，包括完整的集體警告 4 車輛星警報和陸地出發警告。

In the professional IP security camera market, we continue to enjoy strong revenue growth based on the worldwide market expansion and our increased market share outside of China.

在專業IP安全攝影機市場，基於全球市場的擴張以及中國以外市場份額的增加，我們繼續享有強勁的收入成長。

In Europe, market leader access, a unit of Canada announced its first camera to use Ambarella's CV4 SoC.

在歐洲，市場領導者加拿大的一家子公司宣布推出首款採用Ambarella CV4 SoC 的相機。

The new M-series cameras offer great image quality even in challenging light conditions, and take advantage of analytics based on deep learning on the age.

全新 M 系列相機即使在具有挑戰性的光照條件下也能提供出色的影像質量，並利用基於時代深度學習的分析。

Vocado based in U.S. In simplifying the management of video security at scale through its hybrid cloud approach and its latest CD62 form security camera features intelligent age-based video analytics powered by Ambarella's CV22 SoC.

總部位於美國的 Vocado 透過其混合雲方法及其最新的 CD62 形式安全攝影機大規模簡化了視訊安全管理，該攝影機具有基於 Ambarella CV22 SoC 的智慧基於年齡的視訊分析功能。

Also industrial giant Johnson Controls introduced its Illustra ProGen 4, mini tone indoor and outdoor PTZ model with resolutions up to 8 megapixels and based on our CV22 SoC.

工業巨頭江森自控也推出了 Illustra ProGen 4，迷你音調室內和室外 PTZ 型號，分辨率高達 800 萬像素，基於我們的 CV22 SoC。

With building AI-based object classification, the camera enables events to be narrowed to different classes, including person, car, bus and motorcycle.

透過建立基於人工智慧的物件分類，攝影機可以將事件縮小到不同的類別，包括人、汽車、巴士和摩托車。

In Korea, market leader, Hanwha Techwin, introduced multiple camera models spanning form, bullet and the license plate recommendation designs and living and the CV2 and CV22 CV4 SoC.

在韓國，市場領導者 Hanwha Techwin 推出了多種相機型號，涵蓋形狀、子彈和車牌推薦設計和生活以及 CV2 和 CV22 CV4 SoC。

Also in Korea, IDIS introduced 4 new camera based on our S3L SoCs replacing high silicon designs.

同樣在韓國，IDIS 推出了 4 款基於我們的 S3L SoC 的新相機，取代了高矽設計。

While Cepro introduced its first 4K camera based on our CV22 SoC.

Cepro 推出了首款基於我們的 CV22 SoC 的 4K 相機。

And in November, Chinese electronics joint, Xiaomi, introduced a new line multifunctional smart door locks with facial recognition using Ambarella's AI vision SoCs, the smart door locks full structure light and RGB camera technology and AI-based official recognition software for hands-free access while also incorporating other unlocking methods, including fingerprint recognition and near-field communication.

11月，中國電子聯合小米推出了一款採用安霸AI視覺SoC的新型多功能面部識別智能門鎖，該智能門鎖採用全結構光和RGB攝像頭技術以及基於AI的官方識別軟體，可實現免提訪問同時也融入了其他解鎖方法，包括指紋辨識和近場通訊。

From these customer engagements, you can see the breadth of AI applications emerging ranging from L2+ ADAS in EVs with a leader like Rivian to enterprise-class security cameras with the industry giant like Johnson control.

從這些客戶互動中，您可以看到人工智慧應用的廣泛性，從 Rivian 等領導者的電動車中的 L2+ ADAS 到江森自控等行業巨頭的企業級安全攝影機。

And the door locks with sensor fusion for the smart home and enterprise market with a major company like Xiaomi.

還有像小米這樣的大公司針對智慧家庭和企業市場推出的帶有感測器融合的門鎖。

This transaction can be traced back to premium growth R&D investment we have and will continue to make into camera and the radar perception technologies automotive functional safety such as SOB or D and next-generation AI processor on 3-nanometer manufacturing process node.

這項交易可以追溯到我們已經並將繼續對攝影機和雷達感知技術、汽車功能安全（例如 SOB 或 D）以及 3 奈米製造製程節點上的下一代人工智慧處理器進行的超額成長研發投資。

All optimized specifically for IoT endpoint applications.

所有這些都專門針對物聯網端點應用程式進行了最佳化。

In fact, in the last 3 years, Ambarella invested 59% of revenue into R&D on a GAAP basis, a level beyond a maintenance level you see at most companies.

事實上，在過去 3 年中，按照 GAAP 計算，安霸將 59% 的收入投入研發，這一水平超出了大多數公司的維持水平。

Of course, it is not just about the quantity of R&D investment, but the quality.

當然，研發投入不僅關乎數量，更關乎品質。

And as you know, we consider our visual AI R&D to be the best out there.

如您所知，我們認為我們的視覺人工智慧研發是目前最好的。

Evidence supporting this continue to mount as we successfully leveraged our well-established video processing leadership into the computer vision AIoT market.

隨著我們成功地將我們成熟的視訊處理領導地位運用到電腦視覺 AIoT 市場，支持這一點的證據不斷增加。

This large growth R&D investment has been focused on processing data collected from the lens of camera with the algorithm-first approach.

這項大幅成長的研發投資主要集中在使用演算法優先的方法來處理從相機鏡頭收集的數據。

Now we have augmented this investment with acquisition outline who use a similar algorithm first approach for the high-definition imaging radar market.

現在，我們透過收購大綱擴大了這項投資，他們在高清成像雷達市場上使用類似的演算法優先方法。

Radar perception is an incremental market for Ambarella.

雷達感知是 Ambarella 的一個增量市場。

However, we are most excited about the synergy with Oculii, which we expect to be derived from 2 principal areas.

然而，我們最興奮的是與 Oculii 的協同效應，我們預計這種協同效應將來自兩個主要領域。

First, we expect our combined camera and the radar R&D investment to enable breakthrough levels of perception and economical price point.

首先，我們預期我們的組合相機和雷達研發投資能夠實現突破性的感知水準和經濟的價格點。

But Ambarella is now one of the very few semiconductor companies to have advanced camera and radar technology development of the wire room.

但安霸現在是極少數擁有先進攝影機和雷達技術開發線室的半導體公司之一。

Second, -- Through our CVC road map, we are able to provide the processing power, not just for the perception processing, but we target incremental processing for the fusion, planning and control layers in a variety of IoT markets.

其次，透過我們的 CVC 路線圖，我們能夠提供處理能力，不僅用於感知處理，而且我們的目標是為各種物聯網市場中的融合、規劃和控制層提供增量處理。

All of this is expected to drive more value, both higher selling price and improve market shares for Ambarella and its stakeholders.

所有這些預計將為安霸及其利益相關者帶來更多價值，包括更高的售價和提高市場份額。

In summary, during Q3, we demonstrated progress on the strategic front with the acquisition of Oculii and our CV portfolio ramp continues.

總之，在第三季度，我們透過收購 Oculii 展示了在策略方面的進展，並且我們的 CV 投資組合仍在繼續成長。

Our financial results are providing an early look at how we intend to capitalize on an entirely new phase of the digital AI transformation, a phase where deep learning is not just execute in service but in our SoC platform designed for the unique needs of the AIoT endpoint markets.

我們的財務表現讓我們能夠初步了解我們打算如何利用數位人工智慧轉型的全新階段，在這個階段，深度學習不僅在服務中執行，而且在我們專為滿足AIoT 端點的獨特需求而設計的SoC 平台中執行市場。

And I want to thank all our stakeholders, employees, suppliers, partners, customers and the shareholders for your continued support.

我要感謝我們所有的利害關係人、員工、供應商、合作夥伴、客戶和股東的持續支持。

With that, John will now provide our prepared financial comments.

接下來，約翰將提供我們準備好的財務評論。

Thank you, Fermi, and good afternoon, everyone.

謝謝費米，大家下午好。

I will review the financials for the third quarter of fiscal year '22 ending October 31, and provide a financial outlook for our fourth quarter of fiscal year '22 ending January 31, 2022.

我將回顧截至 10 月 31 日的 22 財年第三季的財務數據，並提供截至 2022 年 1 月 31 日的 22 財年第四季的財務前景。

I will be discussing non-GAAP results and ask that you refer to today's press release for a detailed reconciliation of GAAP to non-GAAP results.

我將討論非 GAAP 業績，並請您參考今天的新聞稿，以了解 GAAP 與非 GAAP 業績的詳細調整。

For non-GAAP reporting, we have eliminated stock-based compensation expense and acquisition-related costs adjusted for the impact of taxes.

對於非公認會計準則報告，我們消除了根據稅務影響進行調整的股票補償費用和收購相關成本。

Our revenue of $92.2 million was slightly above the high end of our guidance range, representing a sequential increase of 16% from Q2, and a 64% increase from the year ago quarter.

我們的營收為 9,220 萬美元，略高於指引範圍的上限，比第二季季增 16%，比去年同期成長 64%。

The previously anticipated wafer supply recovery from Samsung's Austin, Texas fab helped sequential growth in the quarter.

先前預期三星德克薩斯州奧斯汀工廠的晶圓供應恢復有助於本季的環比增長。

automotive and IoT camera revenue combined increased more than 10% sequentially and other revenue experienced seasonal growth.

汽車和物聯網攝影機收入合計較上季成長超過 10%，其他收入經歷季節性成長。

Non-GAAP gross margin for Q3 was 63.1% and slightly above the 62.8% in the preceding quarter and slightly above the high end of our guidance range.

第三季非 GAAP 毛利率為 63.1%，略高於上一季的 62.8%，略高於我們指引範圍的上限。

The pricing environment for our products is stable, our mix remains favorable, and we are managing higher supply chain costs.

我們產品的定價環境穩定，我們的產品組合仍然有利，我們正在管理更高的供應鏈成本。

Non-GAAP operating expense for the third quarter was $35.6 million compared to $36.4 million for the previous quarter.

第三季非 GAAP 營運費用為 3,560 萬美元，上一季為 3,640 萬美元。

Our Q3 operating expense was below the low end of our guidance, primarily due to the timing of nonrecurring R&D expenses.

我們第三季的營運費用低於我們指引的下限，主要是由於非經常性研發費用的時間安排。

Other income of $408,000 was higher than expected primarily due to the realization of gains on investments as they were sold to finance the acquisition of Oculii.

408,000 美元的其他收入高於預期，主要是由於出售投資以資助收購 Oculii 時實現了投資收益。

The non-GAAP net income for Q3 was $22.2 million or $0.57 per diluted share compared with non-GAAP net income of $13.1 million or $0.35 per diluted share in the second quarter.

第三季非 GAAP 淨利為 2,220 萬美元，即稀釋後每股 0.57 美元，而第二季非 GAAP 淨利潤為 1,310 萬美元，即稀釋後每股 0.35 美元。

Total headcount at the end of the third quarter before the Oculii transaction closed was $824, up 8% from a year ago, with about 82% of employees dedicated to engineering.

Oculii 交易完成前第三季末的員工總數為 824 美元，比去年同期成長 8%，其中約 82% 的員工專門從事工程工作。

Of these engineers, about 69% are developing software and algorithms.

在這些工程師中，大約 69% 正在開發軟體和演算法。

Total accounts receivable at the end of Q3 were $44.8 million or 45 days of sales outstanding versus $38.3 million or 44 days of sales outstanding at the end of the prior quarter.

第三季末的應收帳款總額為4,480 萬美元，即應收帳款餘額為45 天，而上一季末的應收帳款總額為3,830 萬美元，即應收帳款餘額為44 天。

Net inventory at the end of the third quarter was $47 million compared to $42.1 million at the end of the previous quarter.

第三季末的淨庫存為 4,700 萬美元，而上一季末的淨庫存為 4,210 萬美元。

Days of inventory increased to 118 days in Q3 from 115 days in Q2.

庫存天數從第二季的 115 天增加到第三季的 118 天。

In Q3, our operating cash flow was a positive $8.3 million versus a positive $14.4 million in the prior quarter.

第三季度，我們的營運現金流為正 830 萬美元，而上一季為正 1,440 萬美元。

Cash and marketable securities were $457.8 million, up from $449.2 million at the end of the second quarter.

現金和有價證券為 4.578 億美元，高於第二季末的 4.492 億美元。

We had 2 10% plus revenue customers in Q3 and WT Microelectronics, a fulfillment partner in Taiwan, who ships to multiple customers in Asia, represented 63% of revenue; and Chicony, a Taiwanese ODM who manufactures for multiple customers, was at 13%.

第三季度，我們有 2 個收入超過 10% 的客戶，文曄微電子是台灣的履行合作夥伴，向亞洲的多個客戶發貨，佔收入的 63%；群光（Chicony）是一家為多個客戶生產產品的台灣 ODM 公司，佔 13%。

We, Dahua and Hikvision combined declined sequentially and represented a mid-single-digit portion of our total revenue.

我們、大華和海康威視合計收入連續下降，占我們總收入的中個位數部分。

In the professional security camera market, market share shifts between some of our customers are becoming noticeable.

在專業安全攝影機市場中，我們的一些客戶之間的市場份額轉移正變得越來越明顯。

I will now turn to our guidance for the fourth quarter of fiscal year 2022.

我現在將談談我們對 2022 財年第四季的指導。

We completed the acquisition of Oculii on November 5, and our fourth quarter guidance incorporates Oculii's results from operations from that point or about 12 of the 13 weeks in the quarter.

我們於 11 月 5 日完成了對 Oculii 的收購，我們的第四季度指引納入了 Oculii 從那時起或該季度 13 周中大約 12 週的營運結果。

As reported by many of our customers, underlying demand remains solid, but the supply side dynamics remain challenging.

正如我們許多客戶所報告的那樣，潛在需求仍然強勁，但供應方面的動態仍然充滿挑戰。

In Q3, we began to experience the expected improvement in wafer supply following the shortfall from the Texas freeze.

第三季度，在德州凍結造成的短缺之後，我們開始經歷晶圓供應的預期改善。

However, shortages of other companies' components that our customers became more acute in Q3 and continues into Q4.

然而，我們的客戶的其他公司組件的短缺在第三季度變得更加嚴重，並持續到第四季度。

As a result, our guidance contemplates that some of our orders may continue to be rescheduled to ship at a later date.

因此，我們的指導意見認為，我們的部分訂單可能會繼續重新安排在以後發貨。

Based on these factors and our best judgment at the current time, we expect total revenue for the fourth quarter ending January 31, 2022, to be in the range of $88.5 million to $91.5 million.

根據這些因素以及我們目前的最佳判斷，我們預計截至 2022 年 1 月 31 日的第四季總收入將在 8,850 萬美元至 9,150 萬美元之間。

Revenue from the automotive market is expected to increase sequentially with nonauto IoT camera business expected to decline sequentially.

汽車市場的收入預計將環比增長，而非汽車物聯網攝影機業務預計將環比下降。

In Q4, we expect the revenue from Dahua and Hikvision combined to decline to the low single-digit percent of our total revenue.

第四季度，我們預計大華和海康威視的收入合計將下降至我們總收入的低個位數百分比。

We estimate Q4 non-GAAP gross margin to be between 63% and 64%.

我們預計第四季非 GAAP 毛利率在 63% 至 64% 之間。

We are experiencing some higher costs to manage the supply chain but a healthy customer and product mix, together with a relatively stable pricing environment are likely to enable our gross margin to continue to temporarily remain above the high end of our long-term model of 59% to 62%.

我們正在經歷管理供應鏈的成本上升，但健康的客戶和產品組合以及相對穩定的定價環境可能使我們的毛利率繼續暫時保持在長期模型的高端 59 以上% 至 62%。

Non-GAAP operating expense in Q4 is projected to be between $39 million and $41 million due to higher SoC development expense, increased hiring and the inclusion of Oculii's operations.

由於 SoC 開發費用增加、招聘增加以及 Oculii 業務的納入，第四季度的非 GAAP 營運費用預計在 3,900 萬美元至 4,100 萬美元之間。

The Q4 non-GAAP tax rate should be modeled in the 3% to 6% range.

第四季非公認會計原則稅率應在 3% 至 6% 範圍內建模。

We estimate our diluted share count for Q4 to be approximately 39.5 million shares.

我們估計第四季的稀釋後股票數量約為 3,950 萬股。

Ambarella will be participating in Wells Fargo's TMT Summit tomorrow, December 1, Imperial Capital Securities Investors Conference on December 15, Needham's Growth Conference on January 12 and Baird's Vehicle Technology and Mobility Conference in the last week of January.

安霸將於明天（12 月1 日）參加富國銀行(Wells Fargo) 的TMT 高峰會、12 月15 日舉行的帝國資本證券投資者會議、1 月12 日舉行的Needham 增長會議以及1 月最後一周舉行的Baird 汽車技術和移動會議。

Our Capital Markets Day will be held on Tuesday, January 4 from 1:00 p.m.

我們的資本市場日將於 1 月 4 日星期二下午 1:00 舉行。

to 4:00 p.m.

至下午 4:00

at our CES hotel location in Las Vegas, and we will be offering sell-side analysts hosted tours of our demos on January 5, 6 and event.

在我們位於拉斯維加斯的 CES 酒店地點，我們將在 1 月 5 日、6 日和活動期間提供由賣方分析師主持的演示之旅。

Please contact us if you would like to participate.

如果您想參加，請聯絡我們。

I will now turn the call over to the operator for questions.

我現在將把電話轉給接線員詢問問題。

(Operator Instructions) And our first question is going to come from the line of Gary Mobley with Wells Fargo Securities.

（操作員說明）我們的第一個問題將來自富國銀行證券公司的加里·莫布利（Gary Mobley）。

Thanks for accommodating me in here early in the queue and wishing Casey a speedy recovery.

感謝您在隊列中較早安排我到這裡，並祝凱西早日康復。

And I want to start off by asking about the puts and takes as embedded in your December quarter guidance to what extent the seasonality play into it, to what extent do extraneous supply chain factors factoring here.

我想先詢問 12 月季度指導中包含的看跌期權和看跌期權，季節性因素在多大程度上影響其中，無關的供應鏈因素在多大程度上考慮在內。

And if not for the extraneous factors that seemingly or constraining your Q4 guide.

如果沒有看似或限制您的第四季指南的外部因素。

Given the backlog that you have, how many quarter-over-quarter gains or sequential improvements in revenue, can you see just based on your backlog support, assuming all of the supply chain issues that you're dealing with now, work in your favor?

考慮到您所擁有的積壓訂單，假設您現在正在處理的所有供應鏈問題都對您有利，那麼僅根據您的積壓訂單支持，您可以看到有多少季度環比增長或連續改善收入？

Right.

正確的。

This is Fermi.

這是費米。

I think the seasonality is still there, but hardware is reduced from the past.

我覺得季節性還是有的，只是硬體比過去減少了。

If you look at the historical number in the last 5 years, our Q3 to Q4 on average reduced by 11%, but we -- our guidance is much smaller than that, just reflecting that the mix of the product is changing and definitely helping us to reduce the magnitude of the seasonality.

如果你看一下過去5 年的歷史數字，我們的第三季度到第四季度平均減少了11%，但我們的指導比這要小得多，這只是反映了產品組合正在發生變化，這肯定對我們有幫助以減少季節性的程度。

However, the other gating factor is really that the supply chain issue of other components lens for our customers, which we start seeing the kind of bigger problems.

然而，另一個限制因素實際上是我們客戶的其他組件鏡頭的供應鏈問題，我們開始看到更大的問題。

It's hard for us to size up the degree the impact to our revenue, but we do believe there is an impact to our revenue forecast.

我們很難衡量對收入的影響程度，但我們確實相信這對我們的收入預測有影響。

However, although the factor has been considered when we provide this 85% to 95% revenue guidance.

然而，儘管我們在提供這個85%到95%的收入指引時已經考慮到了這個因素。

Okay.

好的。

Appreciate that.

感謝。

And hopefully, I'm not catching you flat to put it with this question, but per your fourth quarter revenue guide, you're expecting roughly 49%, 50% revenue growth in fiscal year '22.

希望我沒有讓您對這個問題持平態度，但根據您的第四季營收指南，您預計 22 財年的營收成長約為 49%、50%。

Given the increasing mix of CV revenue, which I believe is going to be more than 25% of that fiscal year '22 revenue, can you give us a sense of the unit growth versus the ASP tailwind for the fiscal year?

鑑於商用車收入組合不斷增加，我相信該收入將佔 22 財年收入的 25% 以上，您能否讓我們了解一下本財年的單位增長與 ASP 推動因素？

Right.

正確的。

So I really think that the majority of the growth is coming from the ASP.

所以我確實認為大部分成長來自平均售價。

And we continue to see a strong ASP growth we said double the ASP in the past, and we continue to see that as a trend in our near future.

我們繼續看到平均售價的強勁增長，我們稱其為過去平均售價的兩倍，並且我們繼續將其視為不久的將來的趨勢。

And our user number also grows, we talk about CV -- total units CV units is fine cumulatively since the beginning.

我們的用戶數量也在成長，我們談論 CV——總單位 CV 單位從一開始就累積起來很好。

I think that's a significant number.

我認為這是一個很大的數字。

And also there, including 1 million automotive silicon.

其中還包括 100 萬塊汽車晶片。

So I think both sides that we see growth, but I think the ASP is a much bigger factor at this point.

因此，我認為雙方都看到了成長，但我認為目前平均售價是一個更大的因素。

Our next question is going to come from the line of Matt Ramsay with Cowen.

我們的下一個問題將來自馬特·拉姆齊（Matt Ramsay）和考恩（Cowen）的對話。

This is Josh Buchalter on behalf of Matt.

我是喬許‧布查爾特 (Josh Buchalter)，代表馬特 (Matt)。

Congrats on strong quarter.

恭喜季度表現強勁。

I was hoping if you could dig into diversity and potential time line of the funnel that you mentioned tripled.

我希望您能深入研究您提到的漏斗的多樣性和潛在時間線，使其增加兩倍。

Are there any particularly large wins contributing?

有沒有特別大的勝利貢獻？

And I realize it's early, but is there any radar processing or Oculii related revenue embedded within that funnel?

我意識到現在還為時過早，但是該漏斗中是否嵌入了任何雷達處理或 Oculii 相關收入？

Josh, this is Louis.

喬什，這是路易斯。

We'll go into a lot more detail on the funnel at our Capital Markets Day in January 4. But just to give you some of the high-level parameters continues to be a 6-year funnel.

我們將在 1 月 4 日的資本市場日上更詳細地介紹該漏斗。

It uses the same methodology that we employed a year ago.

它使用我們一年前使用的相同方法。

There is no radar in this funnel yet.

該漏斗中還沒有雷達。

And looking at the key elements that add up to the $1.8 billion, there would be the 1 component, which increased from $400 million a year ago to about $700 million in this current tunnel.

看看總計 18 億美元的關鍵要素，其中第 1 個部分從一年前的 4 億美元增加到目前這條隧道的約 7 億美元。

And the pipeline portion of it is now about $1.1 billion.

其中管道部分目前約為 11 億美元。

And the other thing that we can add to this funnel description and characterizing the current funnel is that a vast majority of it is CV SoCs and in particular, of the increase from a year ago, a vast, vast majority would be computer vision SoCs Hopefully, that gives you enough color.

我們可以添加到這個漏斗描述中並描述當前漏斗特徵的另一件事是，其中絕大多數是 CV SoC，特別是，與一年前相比，絕大多數是計算機視覺 SoC。你足夠的顏色。

And again, we'll go into more details at the Capital Markets Day.

我們將在資本市場日再次討論更多細節。

I appreciate that you got the Capital Markets Day coming up.

我很高興您知道資本市場日即將到來。

I was also hoping you could provide some more details about the Rivian win.

我還希望你能提供一些有關 Rivian 勝利的更多細節。

It seems like you're doing more sensor in and centralized processing than some of your other announcements that -- And is this the type of win that you're looking to compete for on a growing basis going forward?

與其他一些公告相比，您似乎正在做更多的感測器和集中處理——這是否是您希望在未來不斷增長的基礎上競爭的勝利類型？

Yes.

是的。

Thank you.

謝謝。

Absolutely, the Rivian side, we talked about we have 3 silicons in there, 3 type of silicones in there.

當然，Rivian 方面，我們談到那裡有 3 種矽，3 種類型的矽。

The first type is CV2AQ -- multiple CV2AQ in the Rivian R1T car and the function of the CD28 is doing video perception.

第一種是CV2AQ－Rivian R1T車上有多個CV2AQ，CD28的功能是做影片感知。

So that's definitely the key components that we want to shoot for in the future.

所以這絕對是我們未來想要努力的關鍵組成部分。

And you can see that we definitely providing the majority of the perception in the R&T car.

您可以看到，我們確實提供了 R&T 汽車中的大部分感知。

The second type of silicon is CD22, which provides the surround view as well as some security camera functions that R&D has -- And the third type is P8 is really a serial chip for the MP interface.

第二種類型的矽是CD22，它提供環視以及研發的一些安全攝影機功能－第三種類型是P8，實際上是MP介面的串列晶片。

And those are 3 things that we provide through the R&D.

這些是我們透過研發提供的三樣東西。

Our next question is going to come from the line of Tore Svanberg with Stifel.

我們的下一個問題將來自 Tore Svanberg 和 Stifel。

Yes.

是的。

Congratulations on the solid results.

祝賀取得了紮實的成果。

First question for you Fermi.

第一個問題是費米。

As it relates to Oculii, obviously, you talked about the radar perception market being an opportunity itself.

顯然，就 Oculii 而言，您談到雷達感知市場本身就是一個機會。

But you said longer term, obviously, this is much more about creating more value SoCs with more integration.

但你說從長遠來看，顯然，這更多的是為了透過更多的整合來創造更多價值的 SoC。

Could you elaborate a little bit on the timing of that?

能詳細說明一下具體時間嗎？

When could we potentially see combined products from the 2 companies in the marketplace?

我們什麼時候可以在市場上看到兩家公司的組合產品？

Right.

正確的。

So the product planning for -- to integrate Oculii software into our silicon comes 2 steps.

因此，將 Oculii 軟體整合到我們的晶片中的產品規劃需要兩個步驟。

The first step is that we are working on to integrate the software to our CV2 family.

第一步是我們正在努力將該軟體整合到我們的 CV2 系列中。

And that's a project we are working on.

這就是我們正在進行的一個項目。

We knew how to do it, and we believe that, that can be a product we start selling, I'd say, later next year.

我們知道如何做到這一點，而且我們相信，這可以成為我們在明年晚些時候開始銷售的產品。

And the idea is that, that's going to be a product we used to target for the Level 2 ADAS application as well as non-automotive application.

我們的想法是，這將成為我們用於 2 級 ADAS 應用以及非汽車應用的產品。

And of course, that for all our next-generation chip, will have well integrated RADAR technology into our silicon.

當然，我們所有的下一代晶片都將把雷達技術很好地整合到我們的晶片中。

And so you should assume that every silicon that we're going to announce in the future will have our radar technology in there.

因此，您應該假設我們將來要發布的每一款晶片都將採用我們的雷達技術。

That's very exciting.

這非常令人興奮。

As my follow-up question, you talked about the landscape for the security camera market kind of changing a little bit.

作為我的後續問題，您談到安全攝影機市場的格局發生了一些變化。

Could you elaborate on that?

能詳細說明一下嗎？

I mean, I think you did mention it when you talked about the 2 Chinese customers, but it sounds like there's some more specific things there, especially as those to customers will be very low percentage of revenues going forward.

我的意思是，我認為您在談到兩個中國客戶時確實提到了這一點，但聽起來似乎還有一些更具體的事情，特別是對於客戶而言，未來收入的比例將非常低。

So -- If you could talk a little bit more about that, that would be great.

所以——如果你能多談談這一點，那就太好了。

Right.

正確的。

So I think from a momentum point of view, outside of China, we're doing very well.

所以我認為從勢頭的角度來看，在中國之外，我們做得很好。

We talked about almost all the major customers outside China are using our CV silicon.

我們談到，中國以外的幾乎所有主要客戶都在使用我們的 CV 晶片。

And in fact, most of them into production already mentioned access, we mentioned Johnson Control and we mentioned some Korean company this time.

事實上，大多數投入生產的已經提到了准入，我們提到了江森自控，這次我們提到了一些韓國公司。

Inside China, I think Dahua continues to use our CV chip.

在中國國內，我認為大華繼續使用我們的CV晶片。

But if you look at what the Hikvision-Dahua announced in the latest quarter, I think there are 2 things to be noticed.

但如果你看看海康威視大華在最近一個季度發布的消息，我認為有兩件事值得注意。

One is they all talk about a slow Chinese market because the government spending is reduced.

一是他們都在談論中國市場放緩，因為政府支出減少了。

And also, they have a huge amount of inventory.

而且，他們還有大量的庫存。

We think the 1 company has like 150 days of auto inventory at hand.

我們認為 1 公司手頭上有大約 150 天的汽車庫存。

So I think those 2 things really contributed a weak performance of yin -- But more importantly, I really think that we continue to see that there's still a lot of high sleek inventory sitting in the channel.

所以我認為這兩件事確實導致了陰線的疲軟表現——但更重要的是，我真的認為我們繼續看到渠道中仍然有大量高庫存。

And I think that although it has been a while, but I think we haven't seen the end of a high silicon tribute yet.

我認為雖然已經有一段時間了，但我認為我們還沒有看到高矽致敬的結束。

Our next question is going to come from the line of Quinn Bolton with Needham & Company.

我們的下一個問題將來自 Quinn Bolton 和 Needham & Company 的線路。

Congratulations on the nice results and best wishes to Casey first speedy recovery.

恭喜凱西取得的好成績，並祝福凱西早日康復。

I wanted just to come back to the $1.8 billion pipeline.

我只想回到 18 億美元的管道。

I know you said it doesn't include any radar -- But could you give us some sense as to what you think that radar opportunity might be as you look out several years?

我知道你說過它不包括任何雷達——但是你能否告訴我們一些你認為雷達機會在你幾年後可能會出現的情況？

I mean, I assume that that's probably an opportunity that could bring hundreds of millions of dollars of TAM to the company, but hoping you might be able to size that.

我的意思是，我認為這可能是一個可以為公司帶來數億美元 TAM 的機會，但希望您能夠衡量這一規模。

Yes.

是的。

This is Louis.

這是路易斯。

And the radar market today in the automotive space only is maybe 90 million units.

目前光是汽車領域的雷達市場就可能有 9,000 萬台。

And the Oculii technology, let's call it, imaging radar is just beginning to penetrate the market.

Oculii 技術（我們稱之為成像雷達）才剛開始滲透市場。

And so if you consider 2 parts of their business, they have a licensing business and then they have a module business.

因此，如果你考慮他們的業務的兩個部分，他們有一個許可業務，然後他們有一個模組業務。

And on the licensing basis, they can realize low single-digit license fee per unit.

在許可的基礎上，他們可以實現單位數低的許可費。

And at the higher end of that, it could be up to $15 of license fee.

最高端的許可證費用可能高達 15 美元。

And on the module side, our expectations for the units in that market are much lower than what we'd anticipate on the software licensing side.

在模組方面，我們對該市場中設備的預期遠低於我們對軟體授權的預期。

But the ASPs in that market, on the other hand, are quite high and say, it ranges from $200 to $2,000 depending on the type of module and the application, of course, the volume.

但另一方面，該市場的平均售價相當高，從 200 美元到 2,000 美元不等，具體取決於模組的類型和應用程序，當然還有數量。

So those would be some of the parameters that you'd want to consider.

因此，這些是您需要考慮的一些參數。

And the key question is what's the penetration rate of this 4G technology going to be into what's already a large existing market.

關鍵問題是這種 4G 技術在已經很大的現有市場中的滲透率是多少。

And the next question I had is just you talked about some of the supply constraints of other components potentially affecting shipments or causing shipments of your devices to push into future quarters.

我的下一個問題是您談到了其他組件的一些供應限制，這些限制可能會影響出貨量或導致設備的出貨量推遲到未來幾個季度。

Do you think any of the demand that's affected may be perishable -- or would you expect anything that sort of slips out of the January quarter would most likely be captured in the April or July quarters.

您是否認為受影響的需求可能會消失？ 或者您是否預計一月份季度的任何下滑最有可能在四月或七月季度得到體現。

Yes.

是的。

This is Fermi.

這是費米。

I think part of the business is perishable, for example, all of the consumer security, which is more like a holiday season sales, I think those are perishable.

我認為部分業務是容易腐爛的，例如所有的消費者安全，這更像是假期季節的銷售，我認為那些都是容易腐爛的。

And I think for the most automotive design, I think, is pushed out next year.

我認為大多數汽車設計都會在明年推出。

So -- and we see that the show supply really impacts all of our customer products out there, including security camera and automotive.

因此，我們看到展會供應確實影響了我們所有的客戶產品，包括安全攝影機和汽車。

Obviously, automotive are a bigger hit than the security camera is point.

顯然，汽車比安全攝影機受到的衝擊更大。

But I think that we don't see any visiting factors being reduced anytime soon.

但我認為短期內我們不會看到任何訪問量減少。

So we definitely continue to watch the progress.

所以我們肯定會繼續關注進展。

And hopefully, we can give you more guidance for next year when we talk in the CMD.

希望我們明年在 CMD 中討論時能夠為您提供更多指導。

And our next question will come from Andrew Buscaglia with Berenberg.

我們的下一個問題將來自安德魯·布斯卡利亞和貝倫貝格。

I just wanted to follow up on -- can you talk a little bit more about home security in this quarter and into Q4 and potentially some momentum even into 2022.

我只是想跟進——您能否多談談本季和第四季的家庭安全，以及甚至在 2022 年可能出現的一些勢頭。

I know that second wave of growth is supposed to be pretty strong.

我知道第二波成長應該會非常強勁。

I just I'd like to hear more about some of the factors influencing that Q4 guide as it relates to that specific market.

我只是想更多地了解影響第四季度指南的一些因素，因為它與特定市場有關。

Yes.

是的。

So I think that for consumer security camera, we do believe that the percentage of our CV revenue goes up significantly from Q3 to Q4 and will continue to see next year, particularly, we think there are a few customers will be in production in the near future.

因此，我認為對於消費級安全攝像頭，我們確實相信我們的CV 收入百分比從第三季度到第四季度顯著上升，並將在明年繼續看到，特別是，我們認為有一些客戶將在不久的將來投入生產未來。

So we believe the second wave of revenue will continue.

因此我們相信第二波收入將會持續。

And the significance of that business is really that people need to justify how -- why you don't want to use a computer vision on the server side, but instead of trying to use the competition on the ag side.

這項業務的重要性實際上在於，人們需要證明為什麼不想在伺服器端使用電腦視覺，而是嘗試在農業端使用競爭。

I think most of our customers realize that a need and it just takes time for them to optimize the product to deliver to a customer.

我認為我們的大多數客戶都意識到了這種需求，並且他們只需要時間來優化產品以交付給客戶。

So -- but I think the fact trend continues and we don't see a problem that we're going to play type of major role in that market.

所以，但我認為事實趨勢仍在繼續，我們沒有看到我們將在該市場中發揮主要作用的問題。

Got it.

知道了。

And your comments on some of your customers having issues.

以及您對一些遇到問題的客戶的評論。

I know you kind of touched on this in the last question a bit.

我知道您在上一個問題中稍微談到了這一點。

But specifically for auto, do you see this influencing any of the more recent design wins you expect to see converting to revenues beginning early next year, just given what you're hearing in the headlines in the markets suggests there may be some delays?

但特別是對於汽車而言，考慮到您在市場頭條新聞中聽到的消息表明可能會有一些延遲，您認為這是否會影響您預計從明年初開始轉化為收入的近期設計成果？

Well, I think the delay is not because of show supply.

嗯，我認為延遲並不是因為演出供應。

It's really about how much volume can go -- can be delivered.

這實際上是關於可以交付多少數量。

I think that all of our customers show their desire to take the product into a market as quickly as possible.

我認為我們所有的客戶都表達了他們希望盡快將產品推向市場的願望。

But I think the number of shipments into the market will be limited by the supply situation.

但我認為進入市場的出貨數量將受到供應情況的限制。

That's why where it's hard to really size it up.

這就是為什麼很難真正衡量它的大小。

So from the product production delivery point of view, I don't see much of a delay.

因此，從產品生產交付的角度來看，我認為沒有太大的延遲。

I think the biggest concern for all of us, including, I think, our customer is whether they can get enough supply to meet the old demand they have.

我認為我們所有人（包括我們的客戶）最關心的是他們是否可以獲得足夠的供應來滿足他們的舊需求。

Our next question will come from Kevin Cassidy with Rosenblatt Securities.

我們的下一個問題將來自羅森布拉特證券公司的凱文·卡西迪。

Congratulations on the great results.

祝賀取得的優異成績。

You gave us a lot of information, a lot of good updates.

你給了我們很多信息，很多好的更新。

One thing, I just wanted to know if you have an update on the CV5 progress.

一件事，我只是想知道您是否有 CV5 進度的更新。

Yes.

是的。

Thank you for the question.

感謝你的提問。

And we didn't talk about C5a this time.

這次我們沒有談到C5a。

on the script.

在劇本上。

But I think, first of all, CV has been successfully simple to many, many customers, security camera, automotive and as well as some of the consumer products.

但我認為，首先，CV 已經成功地讓許多客戶變得簡單，包括安全攝影機、汽車以及一些消費性產品。

And both hardware and software simple has happened.

硬體和軟體都變得簡單了。

And I believe that CVP will be in production second half of next year.

我相信CVP將於明年下半年投入生產。

Okay.

好的。

Great.

偉大的。

And along with that, you had mentioned the 3 or 4 and 3-nanometer R&D happening now, what can we expect something like that to happen?

除此之外，您提到現在正在進行 3 奈米或 4 奈米以及 3 奈米的研發，我們可以期待類似的事情發生嗎？

Is that 2 years out, 3 years?

是2年還是3年？

Yes.

是的。

Well, I think we are focusing more on the 3-nanometer at this point because 3-nanometer is -- sensor 3-nanometer is auto grade, and that's where we focus on.

嗯，我認為我們現在更關注 3 奈米，因為 3 奈米感測器 3 奈米是汽車級的，這就是我們關注的地方。

And the timing of we using 3-nanometer really depends on how fast the sensor can be matured.

我們使用 3 奈米的時機實際上取決於感測器成熟的速度。

And we definitely plan to kick off a test chip sometime next year to test out all of our IPs and engineering delivered development, but the products really depends on how fast we can get to yield out of 3 nanometers.

我們肯定計劃在明年某個時候啟動測試晶片，以測試我們所有的 IP 和工程交付的開發，但產品實際上取決於我們能夠以多快的速度實現 3 奈米的良率。

But during the meantime we're going to -- we are very confident and comfortable with the sensor 3-nanometer now, and we're going to see -- continue to see multiple projects going to a sensor finale next year.

但同時，我們現在對 3 奈米感測器非常有信心和滿意，我們將繼續看到多個項目在明年進入最終階段。

Our next question will come from Suji Desilva with ROTH Capital.

我們的下一個問題將來自羅斯資本的 Suji Desilva。

So you talked about supply chain shortages impacting your customers' components.

您談到了供應鏈短缺對客戶組件的影響。

Did you specify which end markets were being impacted?

您是否具體說明了哪些終端市場受到影響？

Or was it broadly across the end markets?

還是遍及終端市場？

It's across the board.

這是全面的。

In fact, every customer we talk to, they got a different type of impact some just a little but from almost all of our automotive customers are talking about different type of supply shortage.

事實上，我們採訪的每一位客戶都受到了不同類型的影響，有些只是一點點，但幾乎所有我們的汽車客戶都在談論不同類型的供應短缺。

Microcontroller is probably the biggest one.

微控制器可能是最大的一個。

on the consumer security even -- most of the consumer security camera, WiFi supply is a big problem.

就消費者安全而言—對於大多數消費者安全攝影機來說，WiFi 供應是一個大問題。

And so I think that it's really quotable at different levels.

所以我認為它確實可以在不同層面上引用。

Okay.

好的。

And then I know you talked about you reaffirmed the 25% CV revenue contribution in '22.

然後我知道你談到你重申了 22 年 25% 的履歷收入貢獻。

I don't recall it in the past, if you've talked about where you think that might go next year, 23 or thereafter?

我不記得過去，您是否談到您認為明年、23 日或之後可能會發生什麼？

Any color there would be helpful.

任何顏色都會有幫助。

Yes, we haven't addressed next year yet, but I definitely think we need to give you more guidance at the CMD time.

是的，我們還沒有討論明年的問題，但我絕對認為我們需要在 CMD 時間為您提供更多指導。

Okay.

好的。

I look forward that say, I don't know you are provide some of that.

我期待著說，我不知道你會提供其中的一些。

And then lastly, a follow-up on Rivian.

最後，Rivian 的後續行動。

You talked about the wins and the car has 5 cameras and 10 radars.

你談到了勝利，汽車有 5 個攝影機和 10 個雷達。

I'm just curious if that's the kind of or maybe I got backwards 10 cameras and 5 radar.

我只是好奇是否是這種情況，或者也許我後面有 10 個攝影機和 5 個雷達。

The proportion of that is consistent with what you're going to see going forward.

其中的比例與您未來將看到的情況一致。

And also with the chips you've sold the multiple chips, are you now causing other AI chips in the car to be despeced or perhaps replaced by just I'm trying understand how new and perhaps forward-looking the design revenues?

而且，對於您出售的多個晶片來說，您現在是否正在導致汽車中的其他人工智慧晶片被貶低或可能被替換，只是我試圖了解設計收入有多麼新穎和可能具有前瞻性？

So first of all, yes, I think the ratio sounds right because First of all, the radar, the 5 position for RADAR is really the 1 front and the 4 corners for radar.

首先，是的，我認為這個比例聽起來是正確的，因為首先是雷達，雷達的 5 個位置實際上是雷達的 1 個正面和 4 個角。

And some of them start using a radar for internal perception also.

他們中的一些人也開始使用雷達進行內部感知。

-- but that's a unique opportunity.

——但這是一個獨特的機會。

But for camera, we're seeing customers going anywhere between 10 to 15, 16 type of cameras moving forward.

但對於相機，我們看到客戶正在使用 10 到 15、16 種類型的相機。

So I think that ratio is probably stay there.

所以我認為這個比例可能會保持不變。

But however, from our point of view, you can see that we are handling quite a few cameras with only -- I would say, 3 combined and CV22 chips.

但是，從我們的角度來看，您可以看到我們正在處理相當多的相機，這些相機僅使用 - 我想說，3 個組合晶片和 CV22 晶片。

Moving forward, I think that will be unified to a domain control type of chips.

展望未來，我認為這將統一為域控制類型的晶片。

So I definitely think this is the first generation.

所以我絕對認為這是第一代。

And in fact, we saw working with Rivian I would say, 3 years ago, it took 3 years to recepoint.

事實上，我們看到了與 Rivian 的合作，我想說，3 年前，花了 3 年才接收點。

And we do believe that moving forward, you will see a less -- much less number of digital single processing chip, but it's much more powerful.

我們確實相信，展望未來，您將看到數量更少的數位單處理晶片，但它的功能更強大。

-- to handle all of cameras and radars.

——處理所有攝影機和雷達。

And our next question will come from the line of Joe Moore with Morgan Stanley.

我們的下一個問題將來自摩根士丹利的喬·摩爾。

I wonder if you could talk about your progress in L2 in passenger cars both in the U.S. or in the West and also in China.

我不知道您能否談談您在美國或西方以及中國在乘用車L2方面的進展。

Do you see the biggest successes there coming from replacing the incumbent with single camera forward-facing -- Or would you anticipate that you get -- it's things like radar or stereo vision that kind of are -- that's the new technology shift that brings Ambarella into those sockets.

您是否認為最大的成功來自於用單攝像頭取代現有的前置攝像頭——或者您是否預計會得到——像雷達或立體視覺之類的東西——這就是安霸帶來的新技術轉變插入那些插座。

I think the biggest near-term opportunity is to replace the incumbent of a full facing ADAS market because our current CV2 functional safety chip is well suitable for that.

我認為近期最大的機會是取代現有的全面向 ADAS 市場，因為我們目前的 CV2 功能安全晶片非常適合這一點。

And now we can integrate RADAR solution into CV2 functional safety chip and provide a combined sensor fusion online chip become even more powerful solution for our customer.

現在我們可以將RADAR解決方案整合到CV2功能安全晶片中，並提供組合感測器融合線上晶片，成為我們客戶更強大的解決方案。

So I really think for the near term, this is the biggest opportunity for us.

所以我真的認為，從短期來看，這對我們來說是最大的機會。

However, that I think you can -- based on Arabian you can see that similar type of design can be used in a consumer vehicle.

然而，我認為你可以——基於阿拉伯，你可以看到類似類型的設計可以用於消費車輛。

But I think for the high-volume consumer vehicle, you would require much more integrated solution in terms of number of chips and doing a video and radar integrating to a single domain controller.

但我認為，對於大批量的消費型車輛，在晶片數量以及將視訊和雷達整合到單一網域控制器方面，您將需要更加整合的解決方案。

I think that's probably a further out for us.

我認為這對我們來說可能是更進一步的事情。

Okay.

好的。

And if I could just ask a follow-up.

如果我可以問後續情況。

I mean, it seems like the case for stereo vision is pretty compelling.

我的意思是，立體視覺的案例似乎非常引人注目。

You guys have been talking about it for a number of years.

你們已經討論這個問題很多年了。

And it seems like with the type of density and frame rate that you guys can pick up that you can do really good distance triangulation at speed.

看起來，透過您可以選擇的密度和幀速率類型，您可以快速進行非常好的距離三角測量。

What is the barriers?

障礙是什麼？

Is it just price?

僅僅是價格嗎？

Is it just sort of time for your customers to do the development?

現在是您的客戶進行開發的時間嗎？

What is it that kind of gets you into those wins longer term?

是什麼讓你獲得長期的勝利？

Right.

正確的。

So first of all, I think the stereo is really trying to providing a different type of sensor modality against LIDAR in Level 4 -- Level 3 or Level 4 cars.

首先，我認為立體聲音響確實試圖在 4 級（3 級或 4 級汽車）中提供一種與 LIDAR 不同類型的感測器模式。

And in Level 2, when you're talking about smaller number of cameras, the price is really becoming sensitive.

在 Level 2 中，當您談論較少數量的攝影機時，價格確實變得很敏感。

So I think for most of people who are evaluating and adopting the stereo processing is really on the -- they want to have multiple sensor to do, providing the that information.

因此，我認為對於大多數正在評估和採用立體聲處理的人來說，他們確實希望有多個感測器來提供該資訊。

So I think that's definitely the limit the number of applications that require stereo processing.

所以我認為這絕對是需要立體聲處理的應用程式數量的限制。

But however, I still believe this is a very powerful tool for us.

但是，我仍然相信這對我們來說是一個非常強大的工具。

In fact, we do have projects that we already take that into production and also that in the near future, we can talk about more design wins we have with there.

事實上，我們確實有一些項目已經投入生產，而且在不久的將來，我們可以談論我們在那裡獲得的更多設計勝利。

It will take a little longer time.

需要的時間會長一點。

Our next question is going to come from the line of David O'Connor with BNP Paris.

我們的下一個問題將來自法國巴黎銀行的戴維·奧康納 (David O'Connor)。

Maybe for me, a couple on my side on the Oculii.

也許對我來說，Oculii 上我這邊有一對夫婦。

Firstly, can you talk us more a bit around the positioning of ocular radar from the processing perspective versus the existing radar processing guys where you see the microcontroller sitting behind the sensor.

首先，您能否從處理的角度與我們詳細談談目視雷達的定位，以及現有的雷達處理人員（在現有的雷達處理人員中，您會看到微控制器位於感測器後面）。

And also then on the -- when you integrate Ocular into the CV chip, what type of gross margin upside are we kind of looking at there, given the software component to that?

然後，當您將 Ocular 整合到 CV 晶片中時，考慮到軟體元件，我們會看到哪種類型的毛利率上升？

And lastly, on Ocular, do you plan to maintain the module business there initially?

最後，對於Oular，你們最初打算維持那裡的模組業務嗎？

Just trying to understand the synergy there of having that margin business with the existing chip business.

只是想了解利潤業務與現有晶片業務的協同作用。

And maybe one final one for John.

也許是約翰的最後一件事。

I'm not sure I joined the call a bit late, so -- but did you quantify how much revenue you're leaving on the table given these supply constraints?

我不確定我加入電話會議的時間有點晚了，所以——但是您是否量化了考慮到這些供應限制，您剩下多少收入？

So first of all, on the radar side, we do plan to continue with the module business because, first of all, it's a very well integrated product easy for any of our customers who want to evaluate our technology so that we can even give them model so they can understand how to algorithm software works and through the evaluation.

因此，首先，在雷達方面，我們確實計劃繼續模組業務，因為首先，對於任何想要評估我們技術的客戶來說，這是一個非常整合的產品，以便我們甚至可以為他們提供模型，以便他們能夠了解演算法軟體如何運作並通過評估。

But more importantly, there are some small volume customers, they probably will adopt our module and getting to mass production.

但更重要的是，有一些小批量的客戶，他們可能會採用我們的模組並進入大量生產。

So we do plan to continue to our margin business.

因此，我們確實計劃繼續我們的保證金業務。

From the difference, the differentiation between Oculii and their competitors, I think it really utilized for us is an algorithm company, and their unique AI algorithm they -- what they do is they try to generate this we call intelligent transmit waveforms and that adapt based on the environment.

從Oculii 和他們的競爭對手之間的區別來看，我認為它真正為我們所利用的是一家演算法公司，他們獨特的人工智慧演算法——他們所做的就是嘗試產生我們稱之為智慧傳輸波形的波形，並且基於自適應關於環境。

And after those wafer got sent out, -- And on the receiving side, when we're receiving those return signals, we process those information across time so that we can improve the resolution.

在這些晶圓被發送出去之後，--在接收端，當我們接收到這些回傳訊號時，我們會隨著時間的推移處理這些訊息，以便我們可以提高解析度。

So it's really about the single processing algorithm that alkylate delivered in the last several years, which significantly improve the resolution both on Angular or horizontal, but more importantly, also on the on the rent side.

因此，這實際上是關於過去幾年中烷基化提供的單一處理演算法，它顯著提高了角度或水平分辨率，但更重要的是，也提高了租賃方面的分辨率。

So I think it's very few companies out there or radar company out there is focusing algorithms.

所以我認為很少公司或雷達公司有聚焦演算法。

You see a lot of the company focusing on just boot up on the power side boost up their transmitters, number of transmitter receiver so that they can trying to meet more signal and which also means a lot more expensive demand, a lot of power consumption.

你會看到很多公司專注於在電源方面啟動，增加發射器、發射器接收器的數量，以便他們可以嘗試滿足更多訊號，這也意味著更昂貴的需求和大量的功耗。

So I think Acura definitely have a unique approach to solve this resolution problem which is important for radar.

所以我認為謳歌肯定有一種獨特的方法來解決這個對雷達來說很重要的解析度問題。

David, you also had a question in there about gross margins in the Oculii business.

David，您也提出了有關 Oculii 業務毛利率的問題。

And the reason we're not ready and prepared to give guidance on that is you're correct, the licensing side of the story would carry gross margins that are better than our long-term model.

我們還沒有準備好並準備就此提供指導的原因是你是對的，許可方面的毛利率將比我們的長期模型更好。

However, when you start layering in the module business, that can bring it back into our long-term model.

然而，當你開始在模組業務中分層時，這可以將其帶回我們的長期模型中。

And so until we understand that mix a little bit better, I think it's appropriate to think of this blended as being in our long-term model of 59% to 62%.

因此，在我們更好地理解這種混合之前，我認為將這種混合視為我們 59% 至 62% 的長期模型是合適的。

And then, David, just finally on your last question, the short answer is no.

然後，大衛，最後一個問題，簡短的回答是否定的。

we didn't quantify any Q3 lost revenue as a result of the supply chain constraints.

我們沒有量化因供應鏈限製而導致的第三季收入損失。

And our next question will come from the line of Tristan Gerra with Baird.

我們的下一個問題將來自 Tristan Gerra 和 Baird 的線路。

This is Tyler Bomba on for Tristan.

我是泰勒邦巴 (Tyler Bomba) 替補特里斯坦 (Tristan)。

First, are you seeing a demand slowdown in China?

首先，您是否看到中國的需求放緩？

And is that possibly going to extend from consumer weakness into infrastructure spending there?

這是否可能會從消費者疲軟延伸到那裡的基礎設施支出？

And then also, do you -- how do you see automotive demand trends in China currently?

另外，您如何看待目前中國的汽車需求趨勢？

I think both for China -- I think in China, our focus is really -- on the security camera side, it's really professional security camera.

我認為對中國來說——我認為在中國，我們的重點確實是——在安全攝影機方面，它是真正專業的安全攝影機。

We don't work on the consumer security camera inside China.

我們不在中國境內開發消費者安全攝影機。

For the professional security camera, we talk about Hikvision, Dahua and a few more companies that always start using our CV solution.

對於專業安全攝像頭，我們談論海康威視、大華以及其他一些總是開始使用我們的 CV 解決方案的公司。

So it's more of the professional side of business.

所以這更多的是業務的專業方面。

On the automotive side, I think it's the number of units is if you look at the forecast for next year, I think China also the forecast for China, Chinese automotive market also reduced in terms of total numbers.

在汽車方面，我認為這是單位數量，如果你看看明年的預測，我認為中國也是中國的預測，中國汽車市場的總數也有所減少。

But however, the trend of that more people start using computer vision solid for the advanced ADAS or AD solution are increasing.

然而，越來越多的人開始使用電腦視覺來實現高級 ADAS 或 AD 解決方案的趨勢正在增加。

So I think that's kind of washed out in my opinion, and we continue to secure design wins in Chinese automotive business focused on DMS and ADAS.

因此，我認為這已經被淘汰了，我們將繼續在專注於 DMS 和 ADAS 的中國汽車業務中獲得設計勝利。

Like we announced today with Shaanxi that is ADAS application for the commercial vehicle.

就像我們今天與陝西宣布的那樣，這是針對商用車的 ADAS 應用。

But I definitely think that we work hard to penetrate the consumer vehicle as well as the Level 2 applications.

但我絕對認為我們正在努力滲透消費性車輛以及 2 級應用程式。

Great.

偉大的。

And then for my follow-up, in China, are the surveillance camera OEMs, the professional ones primarily driven by government orders?

那麼我的後續，在中國，監視器的OEM廠商，專業的OEM廠商，主要是由政府訂單驅動的嗎？

Or are they from the private sector?

還是他們來自私營部門？

I think both.

我認為兩者都有。

But however, a majority of the -- for example, Hydro has been talk about a lot of their projects coming from on projects.

但是，大多數——例如，Hydro 一直在談論他們的許多項目都來自於專案。

And that's also the reason they show a weak Q4 guidance because I think government spending is reduced in Q4.

這也是他們第四季指引疲軟的原因，因為我認為第四季政府支出有所減少。

I think that definitely is the main reason that Hikvision are doing very well in the last, I would say, 10 years, it's really about government-driven driving the whole security camera market in China.

我認為這絕對是海康威視在過去十年中表現出色的主要原因，這實際上是政府驅動的，推動了中國整個安全攝影機市場的發展。

Our next question will come from the line of Martin Yang with Oppenheimer.

我們的下一個問題將來自馬丁楊和奧本海默的對話。

My question is on your access given first part with CV design wins, this if I remember correctly, it follows up with the first product for 3 products coming out of Bosch with CVs.

我的問題是關於您的訪問，因為CV設計獲勝的第一部分，如果我沒記錯的話，它是博世推出的帶有CV的3個產品的第一個產品。

So now that those 2 major IP camera security are adopting CV, do you see we reached a potential milestone where we see a much higher adoption of potential shipments of the in the professional security center market in first in the European market?

那麼，現在這2 個主要的IP 攝影機安全正在採用CV，您是否認為我們達到了一個潛在的里程碑，我們看到在歐洲市場上，專業安全中心市場的潛在出貨量的採用率要高得多？

I think from an adoption point of view, if you look at it from the company point of view, the coverage is very well for us.

我認為從採用的角度來看，如果從公司的角度來看，覆蓋範圍對我們來說非常好。

But however, if you look at the products they use CV for now, majority of them are still in the higher end side.

但是，如果你看看他們目前使用CV的產品，大多數仍然處於高端領域。

So it's really a high-end product and convert to CD first.

所以它確實是高階產品，首先要轉換成CD。

And we -- I believe that the biggest opportunity -- revenue comp opportunity for us moving forward is for our customers gradually moving downwards and putting more and more CV solution to their low-end so products then we'll start seeing more unit number to the path to our revenue mix.

我相信，我們前進的最大機會——收入補償機會是我們的客戶逐漸向下移動，並將越來越多的CV 解決方案投入到他們的低端產品中，然後我們將開始看到更多的單位數量我們的收入組合之路。

But I think that because we provide sofa compatible HD case between our low end to high end CV chip, -- So anybody who have designed us in for the 1 CV product, they can easily convert the product to a different type products, a different performance point.

但我認為，因為我們在低端到高端CV 晶片之間提供沙發相容的HD 外殼，所以任何為我們設計1 CV 產品的人，他們都可以輕鬆地將產品轉換為不同類型的產品、不同的產品。

So I do hope that in a near future, we're going to start seeing more product coming from all of those companies using our CME solutions.

因此，我確實希望在不久的將來，我們將開始看到更多的產品來自所有使用我們的 CME 解決方案的公司。

Got it.

知道了。

So as a follow-up to that, I think comparing to Motorola or Hanwha Techwin.

因此，作為後續行動，我認為與摩托羅拉或韓華 Techwin 進行比較。

Those 2 customers seems to have adopted CV in professional security camera products much earlier than the European guys.

這兩位客戶似乎比歐洲客戶更早在專業安全攝影機產品中採用 CV。

So is there any way you can tell from product design or the way the early adopters are using CV chip, where you see kind of extrapolate the speed of the migrations of CV to the low-end security camera products.

那麼，有沒有什麼方法可以從產品設計或早期採用者使用 CV 晶片的方式來判斷，您可以從中看到 CV 遷移到低端安全攝影機產品的速度。

Yes, I think you are right.

是的，我認為你是對的。

For example, if you look at Motorola's script, the quarterly announcement, they do start expanding our CV solution to many different product lines, which is faster than other companies that we're seeing.

例如，如果你看一下摩托羅拉的腳本、季度公告，他們確實開始將我們的 CV 解決方案擴展到許多不同的產品線，這比我們看到的其他公司要快。

So I think Motorola, I would say, is definitely the most aggressive 1 trying to adopt our CV on the high end and gradually moving down to different product lines like even for the wearable device for security guards, those kind of applications they start using our CV chip too.

所以我認為摩托羅拉絕對是最積極的 1 嘗試在高端採用我們的 CV，並逐漸轉向不同的產品線，例如保安人員的可穿戴設備，他們開始使用我們的此類應用程序CV芯片也是如此。

So I think Motorolas most aggressive.

所以我認為摩托羅拉最有侵略性。

But however, I do believe most of the companies out there will follow because for them to continue to compete in the market, they need to have a similar offering for the -- to compete with other companies.

但是，我確實相信大多數公司都會效仿，因為為了讓他們繼續在市場上競爭，他們需要提供類似的產品來與其他公司競爭。

And our next question is going to come from the line of Derek Soderberg with Colliers Securities.

我們的下一個問題將來自高力證券的德里克·索德伯格。

So another question on the curious what you're hearing from your customers, maybe it's customer specific.

那麼另一個問題是關於您從客戶那裡聽到的好奇訊息，也許這是針對特定客戶的。

But are any of them giving you sort of a time line for when you expect their customers -- their other customers were returned to normal.

但是他們中的任何一個都會給你一個時間表，告訴你他們的客戶何時恢復正常嗎？

There's been sort of a decent amount of reporting around the auto chip shortage.

關於汽車晶片短缺的報導已經有相當多的報導了。

Just curious if you're hearing anything like has anything gotten worse in recent months?

只是好奇您是否聽過類似近幾個月來情況變得更糟的事情？

Any color on that would be great.

任何顏色都會很棒。

I try to talk to a lot of people in the industry to understand this situation.

我嘗試與許多業內人士交談以了解這種情況。

The consistent message I heard is that they don't expect the situation will improve until second quarter, maybe third quarter next year in the past.

我聽到的一致訊息是，他們預計情況要到第二季才會改善，過去可能是明年第三季。

I think, however, we do start seeing signs that things changing a little bit, right?

然而，我認為我們確實開始看到事情發生一些變化的跡象，對嗎？

We do see that some component catch-up, even use see some news about microcontroller situation in automotive improved so I do hope that the situation is not as bad as everybody is thinking that Q2, Q3, we'll see -- we'll have to wait until Q2, Q3 next year to see some improvement.

我們確實看到一些組件迎頭趕上，甚至看到一些有關汽車中微控制器情況有所改善的新聞，所以我確實希望情況不像每個人想像的那麼糟糕，第二季度、第三季度，我們會看到——我們會得等到明年Q2、Q3才能看到一些改善。

But at this point, the consensus that 1 of the people I talk to is that this is continue going to be a problem for the next few quarters.

但在這一點上，與我交談的其中一位人士一致認為，這將在未來幾季繼續成為一個問題。

And with that, I see no further questions.

至此，我看不出還有什麼問題了。

I would like to turn the call to Dr. Fermi Wang for closing comments.

我想請費米·王博士發表總結意見。

Thank you, and we are excited to be returning to last Vegas January, to host both our Capital Market Day and the CES event, and we'll be demonstrating a wide range of automotive security, access control and robotic technologies.

謝謝，我們很高興能回到去年一月的拉斯維加斯，舉辦我們的資本市場日和 CES 活動，我們將展示廣泛的汽車安全、門禁控制和機器人技術。

And operate our level for autonomous vehicles and also provide our first demonstration of Oculii's radar software.

運行我們的自動駕駛汽車關卡，並提供 Oculii 雷達軟體的首次演示。

So we really hope that we can see all of you there in person.

因此，我們真誠地希望能夠親自見到你們所有人。

And thank you for your attention today.

感謝您今天的關注。

Goodbye I'll talk to you next time.

再見，下次我再和你說話。

Once again, we'd like to thank you for participating on today's conference call.

我們再次感謝您參加今天的電話會議。

You may now disconnect.

您現在可以斷開連線。