Ambarella Inc (AMBA) 2022 Q2 法說會逐字稿

Thank you for standing by, and welcome to Ambarella's Second Quarter Fiscal Year 2022 Earnings Conference Call.

感謝您的耐心等待，歡迎參加安霸 2022 財年第二季財報電話會議。

(Operator Instructions) As a reminder, today's program is being recorded.

（操作員指示）提醒一下，今天的節目正在錄製中。

I would now like to introduce your host for today's program, Louis Gerhardy, Corporate Development and Investor Relations.

現在我想介紹一下今天節目的主持人路易斯·格哈迪（Louis Gerhardy），負責企業發展和投資者關係。

Please go ahead, sir.

請繼續，先生。

Thank you, Jonathan, and good afternoon.

謝謝你，喬納森，下午好。

Thank you for joining our second quarter fiscal year 2022 financial results conference call for the 3 months ending July 31, 2021.

感謝您參加我們截至 2021 年 7 月 31 日的三個月的 2022 財年第二季財務業績電話會議。

With me today on the call is Dr. Fermi Wang, President and CEO; and Casey Eichler, CFO.

今天與我一起參加電話會議的是總裁兼執行長 Fermi Wang 博士；凱西‧艾克勒 (Casey Eichler)，財務長。

The primary purpose of today's call is to provide you with information regarding the results for the second quarter of our fiscal year 2022.

今天電話會議的主要目的是向您提供有關 2022 財年第二季業績的資訊。

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。

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 business operations and 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 2021 ending January 31, 2021, and the Form 10-Q filed on June 8, 2021, for the first quarter of the fiscal year 2022.

這些風險、不確定性和假設以及可能影響我們業務營運和財務表現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3 月31 日提交的10-K 表格年度報告, 2021，針對​​截至 2021 年 1 月 31 日的 2021 財年，以及於 2021 年 6 月 8 日提交的 10-Q 表格，針對 2022 財年第一季。

Access to our second quarter fiscal 2022 results press release, historical results, SEC filings and the transcript of our prepared remarks and the 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的 2022 財年第二季業績新聞稿、歷史業績、美國證券交易委員會 (SEC) 文件以及我們準備好的講話稿和今天電話會議的重播。

Fermi will now offer a business update, and then we'll review the financial results.

費米現在將提供業務更新，然後我們將審查財務表現。

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

然後費米、凱西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.

謝謝你，路易斯，下午好。

Thank you for joining us today.

感謝您今天加入我們。

We are pleased to report significant market and the financial momentum as our AIoT transformation continues to play out.

我們很高興地報告，隨著我們的 AIoT 轉型不斷展開，市場和財務勢頭強勁。

Q2 revenue was above the high end of our guidance, up 13% sequentially and 58% on a year-over-year basis.

第二季營收高於我們指引的上限，季增 13%，年增 58%。

Our Q3 outlook is also well above the consensus estimate, led by computer vision, CV, new product cycles in existing markets as well as our penetration into entirely new markets.

我們對第三季的展望也遠高於共識預期，主要是電腦視覺、CV、現有市場的新產品週期以及我們對全新市場的滲透。

CV continued to drive our blended ASP higher and the positive operating leverage inherent in our model was apparent with non-GAAP operating margin increasing 450 basis points sequentially reaching 16.9%.

CV 繼續推動我們的混合平均售價走高，我們模型中固有的正營運槓桿顯而易見，非 GAAP 營運利潤率連續增長 450 個基點，達到 16.9%。

Cyclical forces continue to constrain our performance.

週期性力量繼續限制我們的業績。

Wafer supply from Samsung's Austin, Texas wafer fab following the Texas freeze earlier this year, reached a low point in Q2.

繼今年稍早德克薩斯州凍結之後，三星位於德克薩斯州奧斯汀的晶圓廠的晶圓供應在第二季度達到了低點。

While we are seeing a recovery from this Texas fab and expect recovery to continue in the second half, we do not anticipate a material improvement in the industry-wide supply chain challenges.

雖然我們看到這家德州工廠正在復蘇，並預計下半年將繼續復甦，但我們預計全行業供應鏈挑戰不會出現實質改善。

CV momentum continued to rapidly build.

CV 勢頭繼續快速增強。

Since introducing our CV SoC family to the market, we have had more than 240 unique customers purchase engineering parts and/or development systems with almost 60 unique customers achieving production status in the first half of this year.

自從將我們的 CV SoC 系列推向市場以來，我們已有超過 240 個獨特客戶購買了工程零件和/或開發系統，其中近 60 個獨特客戶在今年上半年實現了生產狀態。

Even at this early stage of our transformation, we are realizing a revenue mix that is of higher quality and with more diversification.

即使在轉型的早期階段，我們也正在實現更高品質、更多元化的收入組合。

A majority of our revenue is now driven by enterprise CapEx, public infrastructure spending and the consumer durable goods investment.

我們的大部分收入現在由企業資本支出、公共基礎設施支出和耐用消費品投資所驅動。

For example, our automotive and IoT camera business, mostly security camera state, both decisively achieved a record quarterly revenue levels while our nonfocused other revenue, mostly discretionary consumer laser goods, represented 10% of revenue or a record low.

例如，我們的汽車和物聯網攝影機業務（主要是安全攝影機）都實現了創紀錄的季度收入水平，而我們的非重點其他收入（主要是非必需消費雷射產品）佔收入的10% 或創歷史新低。

Now I will now update you on target market progress.

現在我將向您介紹目標市場的最新進展。

In June, we announced the expansion of our AI Vision SoC portfolio with the introduction of our new CV5S and the CV52S SoCs.

6 月，我們宣布推出新的 CV5S 和 CV52S SoC，擴展我們的 AI Vision SoC 產品組合。

Based on the CV4 architecture, the 5-nanometer SoC target IoT security applications with Minix OS, a new HDK including multi-imager and small form factors.

基於 CV4 架構，5 奈米 SoC 面向採用 Minix OS 的物聯網安全應用，Minix OS 是一種包含多成像器和小尺寸的新型 HDK。

This new SoC camera supports applications requiring 360-degree coverage, long-range viewing, advanced encoding and AI performance to more accurately identifying -- to identify individuals or objects in a scene.

這款新型 SoC 相機支援需要 360 度覆蓋、遠距離檢視、進階編碼和 AI 性能的應用，以更準確地識別場景中的個人或物體。

During the quarter, 8 weeks after receiving first silicon, we shipped our first CV5S development systems and software development kit to customers.

在本季度，即收到第一塊晶片後 8 週，我們向客戶交付了第一個 CV5S 開發系統和軟體開發套件。

This is a significant accomplishment at such advanced node.

這是在如此先進的節點上取得的重大成就。

And I'm thankful for the strong execution from our hardware and software teams that made this happen.

我感謝我們的硬體和軟體團隊的強大執行力，使這一切得以實現。

Also, in June, in advance of the Annual ISC West trade show in Las Vegas, we held a virtual event that was attended by over 50 leading customers worldwide.

此外，6 月，在拉斯維加斯舉行的年度 ISC West 貿易展之前，我們舉辦了一場虛擬活動，全球 50 多家領先客戶參加了這項活動。

The event featured over 20 demonstrations, including a first look at the new CV5S in multi-imager system and our latest access control reference design based on our continuing partnership with Lumentum and ON Semiconductor.

此次活動進行了 20 多個演示，包括首次展示多成像儀系統中的新型 CV5S 以及基於我們與 Lumentum 和安森美半導體持續合作的最新訪問控制參考設計。

We have already secured multiple design wins for the new CV5S as well as new customers in the access control market.

我們已經為新型 CV5S 以及門禁市場的新客戶贏得了許多設計勝利。

Motorola Solutions has become one of our largest customers.

摩托羅拉解決方案已成為我們最大的客戶之一。

And we are pleased to see their announcement, they intended to acquire Openpath, a technology leader in access control system, further validating the significant opportunity in this growing market segment.

我們很高興看到他們宣布，他們打算收購門禁系統技術領導者Openpath，進一步驗證了這個不斷成長的細分市場的重大機會。

Motorola's video security portfolio now includes IP camera makers of digital, telecom and IndigoVision as well as (inaudible) of U.K.-based police body-worn camera supplier and WatchGuard, a supplier of police vehicle cameras.

摩托羅拉的視訊安全產品組合現在包括數位、電信和 IndigoVision 的 IP 攝影機製造商，以及（聽不清楚）英國警察隨身攝影機供應商和警車攝影機供應商 WatchGuard。

All of these companies are Ambarella customers.

所有這些公司都是 Ambarella 的客戶。

Ambarella's CV4 AI Vision SoC continue to gain share in a professional IoT security camera market, with most major manufacturers have chosen our CV SoCs.

安霸的 CV4 AI Vision SoC 在專業物聯網安全攝影機市場中不斷獲得份額，大多數主要製造商都選擇了我們的 CV SoC。

During the quarter, European giant Bosch introduced its first 3 families of cameras based on Ambarella's CV SoCs.

本季度，歐洲巨頭博世推出了基於 Ambarella 的 CV SoC 的前 3 個相機系列。

Bosch introduced the 5000i based on our CV22 and the 7000i and 8000i based on our CV2 SoCs.

博世推出了基於 CV22 的 5000i 以及基於 CV2 SoC 的 7000i 和 8000i。

By winning the 3 major platforms at Bosch, the scalability of our CV SoC portfolio is demonstrated.

透過贏得博世的 3 個主要平台，我們的 CV SoC 產品組合的可擴展性得到了證明。

In addition to our SoC share gains in professional security outside of China, last quarter, we spoke about opportunity to gain market share within China, and we announced 2 new customers today.

除了我們在中國以外的專業安全領域的 SoC 份額有所增長之外，上個季度我們還談到了在中國境內獲得市場份額的機會，並且今天宣布了 2 個新客戶。

We're announcing 2 additional customers, (inaudible).

我們宣布新增 2 位客戶（聽不清楚）。

First (inaudible) introduced its CV25-based AI pro-bullet network camera family available in 2, 5 and 8 megapixel version and including advanced analytics, people counting face detection in ultra-low light operations.

First（聽不清楚）推出了基於 CV25 的 AI Pro-Bullet 網路攝影機系列，提供 2、5 和 800 萬像素版本，包括進階分析、超低光操作中的人數統計人臉偵測。

Second, (inaudible) introduced a noncontact facial recognition temperature major system based on our CV28M SoC.

其次，（聽不清楚）推出了基於我們的 CV28M SoC 的非接觸式臉部辨識溫度主系統。

The tablet device can recognize people with max arm and use few sensors.

平板電腦設備可以識別手臂最大的人，並且使用很少的感測器。

Also, during the quarter, Canada-based March Networks introduced its new VA series IP camera based on our CVflow processors.

此外，在本季度，總部位於加拿大的 March Networks 推出了基於我們的 CVflow 處理器的新型 VA 系列 IP 攝影機。

Our chip sets make them fully compliant with the U.S. National Defense Authorization Act, or NDAA, and power the cameras advance video analytics.

我們的晶片組使其完全符合美國國防授權法案 (NDAA)，並為攝影機提供先進的視訊分析功能。

Now turning to the automotive market.

現在轉向汽車市場。

We continue to make progress in the fleet management market due to the efficiency of our CV SoC as well as the advantage of our open platform which allow OEMs and Tier 1s to create differentiated multifunctional products.

由於我們的 CV SoC 的效率以及開放平台的優勢，使 OEM 和 Tier 1 能夠創建差異化的多功能產品，我們在車隊管理市場上不斷取得進展。

Last quarter, we announced 4 examples from the Shanghai Auto Show.

上個季度，我們公佈了上海車展的 4 款範例。

And this quarter, we are pleased to announce 3 additional wins; KeepTruckin, Yandex and Solera.

本季度，我們很高興地宣布另外 3 場勝利； KeepTruckin、Yandex 和 Solera。

Earlier in August, fleet management leader KeepTruckin announcing it was partnering with Ambarella to deliver its new AI Dashcam for Front ADAS, driver monitoring and telematics.

8 月初，車隊管理領導者 KeepTruckin 宣布與 Ambarella 合作，推出用於前端 ADAS、駕駛員監控和遠端資訊處理的新型 AI 行車記錄器。

The AI Dashcam uses a single CV22 SoC to simultaneously provide AI and image processing for its dual camera system, which integrate one camera for the Front ADAS with instant incident recording and the second RGB-IR camera for the driver monitoring system with recording.

AI 行車記錄器使用單一CV22 SoC 為其雙攝影機系統同時提供人工智慧和影像處理，該系統整合了一個用於前置ADAS 的攝影機（具有即時事件記錄功能）和第二個RGB-IR 相機（使用於駕駛員監控系統（具備記錄功能））。

This morning, we announced Yandex, a major Internet service and product company, introduces a SignalQ2 driver monitoring camera for its ride-hailing partners, powered by Ambarella's CV25 SoC.

今天早上，我們宣布大型網路服務和產品公司 Yandex 為其叫車合作夥伴推出 SignalQ2 駕駛員監視器，該攝影機由 Ambarella 的 CV25 SoC 提供支援。

The Yandex DMS camera will be deployed across Yandex Taxi partner fleet, which consists of over 700,000 vehicles starting in 2022 and is also being offered to other delivery fleet companies.

Yandex DMS 攝影機將部署在 Yandex Taxi 合作夥伴車隊中，從 2022 年開始，該車隊由超過 700,000 輛車輛組成，並且還向其他送貨車隊公司提供。

Also, during the quarter, Solera's Omnitracs division announced its next-generation fleet solution using SmartDrive technology with our CV25 SoC.

此外，在本季度，Solera 的 Omnitracs 部門宣布了使用 SmartDrive 技術和我們的 CV25 SoC 的下一代車隊解決方案。

This combo systems simultaneously process data from 2 sensors, monochrome and RGB-IR to enable DMS and the recording functionality.

此組合系統同時處理來自 2 個感測器（單色和 RGB-IR）的數據，以啟用 DMS 和記錄功能。

In the passenger vehicle OEM market, Chinese car maker Dongfeng introduced its new EVO max car featuring a driver monitoring camera-based Ambarella CV25AQ processor.

在乘用車OEM市場，中國汽車製造商東風推出了新款EVO max汽車，該汽車配備了基於駕駛員監視攝影機的Ambarella CV25AQ處理器。

With this market progress, you can see we are winning because of our efficiency, both in terms of performance per watt and performance per dollar.

隨著市場的進步，您可以看到我們因效率而獲勝，無論是在每瓦性能還是每美元性能方面。

And our open platform and a flexible architecture, which allow our customers to capture software value and introduce differentiated multi-featured combination systems.

我們的開放平台和靈活的架構，使我們的客戶能夠捕捉軟體價值並推出差異化的多功能組合系統。

In conclusion, we are leading a significant shift in how camera are used and providing the corresponding step function increase in processing performance.

總之，我們正在引領相機使用方式的重大轉變，並提供處理性能的相應階梯函數提升。

In addition to human viewing, all through a lens of a camera, data can be collected and then processing our SoC, enabling new level of safety, security and efficiency through partial or complete level of automation across multiple industries.

除了人類觀察之外，還可以透過相機鏡頭收集數據，然後處理我們的 SoC，透過跨多個行業的部分或完全自動化水平，實現新的安全性、安保性和效率水平。

This processing will provide is occurring in purpose-built IoT endpoints, not in servers, where it's fundamentally different and more expensive SoC architecture are used.

這種處理將發生在專門建置的物聯網端點中，而不是在伺服器中，伺服器中的處理完全不同，並且使用更昂貴的 SoC 架構。

The global economic picture is strong.

全球經濟情勢強勁。

New stimulus programs are in the works, like infrastructure build in the U.S. Supply-side cyclical dynamics are extended.

新的刺激計劃正在進行中，例如美國的基礎設施建設。

But to be clear, the inflection you are seeing with Ambarella, what gets us most excited is how we are driving AI into numerous IoT endpoint verticals and how we are demonstrating we can capitalize on this tremendous growth opportunity to drive shareholder returns.

但需要明確的是，您在安霸身上看到的變化，最讓我們興奮的是我們如何將人工智慧推動到眾多物聯網端點垂直領域，以及我們如何證明我們可以利用這一巨大的成長機會來推動股東回報。

The demand for deep learning in AIoT endpoint is a new and a critical phase of the digital transformation that is just beginning to impact to so many verticals.

AIoT 端點對深度學習的需求是數位轉型的一個新的關鍵階段，這個階段剛開始對許多垂直產業產生影響。

Our confidence in our long-term prospects is high.

我們對長期前景充滿信心。

We expect to achieve record revenue in fiscal year '22, ahead of the $360 million revenue in fiscal year in 3 months and we remain comfortable that CV revenue will be at least 25% of total revenue this year.

我們預計 22 財年將實現創紀錄的收入，超過 3 個月後財年收入 3.6 億美元，我們仍然確信 CV 收入將至少佔今年總收入的 25%。

Before we get into the financials, I would like to -- I would like you to mark your calendars for our Capital Market Days, we plan to host at our Las Vegas CES location on Tuesday afternoon, January 4. This event will allow us to more thoroughly discuss the inflection we are seeing and provide a corporate strategy update.

在我們討論財務問題之前，我希望您在日曆上標記我們的資本市場日，我們計劃於 1 月 4 日星期二下午在拉斯維加斯 CES 地點舉辦。我們所看到的變化並提供公司策略更新。

With that, I'll ask Louis to review the Q2 financials and provide Q3 outlook.

接下來，我將請路易斯審查第二季的財務狀況並提供第三季的前景。

Thank you, Fermi.

謝謝你，費米。

I will now review the financial highlights for the second quarter of fiscal '22, ending July 31, and provide a financial outlook for our third quarter of fiscal '22 ending October 31.

我現在將回顧截至 7 月 31 日的 22 財年第二季的財務亮點，並提供截至 10 月 31 日的 22 財年第三季的財務前景。

I'll 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 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基於股票的補償費用。

In Q2, the industry-wide supply chain challenges remain significant.

第二季度，全產業供應鏈挑戰依然嚴峻。

And in this period, we believe we experienced the worst of the wafer shortfall from the Texas freeze as previously forecasted.

在此期間，我們相信我們經歷了德克薩斯州凍結造成的最嚴重的晶圓短缺，正如之前預測的那樣。

However, our operations team and manufacturing partners worked diligently to support the strong and broad-based demand, and they successfully minimized disruptions for our customers.

然而，我們的營運團隊和製造合作夥伴努力工作，以支持強勁且廣泛的需求，並成功地最大限度地減少了對客戶的干擾。

Our revenue of $79.3 million was 5% above the high end of our guidance, representing a sequential increase of 13% from Q1 and a 58% increase from the year ago quarter.

我們的營收為 7,930 萬美元，比指導上限高出 5%，比第一季環比成長 13%，比去年同期成長 58%。

Automotive revenue increased about 10% sequentially, Security grew more than 20% sequentially, and other product revenue was down more than 20% sequentially.

汽車收入較上季成長約 10%，安全收入較上季成長超過 20%，其他產品收入較上季下降超過 20%。

Non-GAAP gross margin for Q2 was 62.8%, slightly below the 62.9% in the preceding quarter.

第二季非 GAAP 毛利率為 62.8%，略低於上一季的 62.9%。

We incurred some higher cost to manage the supply chain challenges, but the pricing environment and the mix remained relatively stable, sustaining gross margin above the high end of our long-term model.

我們為應對供應鏈挑戰付出了一些較高的成本，但定價環境和產品組合保持相對穩定，使毛利率維持在長期模型的高端之上。

Non-GAAP operating expense for the second quarter was $36.4 million compared to $35.4 million for the previous quarter.

第二季非 GAAP 營運費用為 3,640 萬美元，上一季為 3,540 萬美元。

OpEx was slightly below the midpoint of our guidance as G&A was lower than forecasted.

由於一般管理費用低於預期，營運支出略低於我們指引的中點。

We continue to demonstrate strong positive operating leverage with operating margin on a non-GAAP basis of 450 basis points sequentially, reaching 16.9%, up from 2.2% a year ago.

我們持續展現強勁的正營運槓桿，以非公認會計準則計算的營運利潤率連續上升 450 個基點，達到 16.9%，高於一年前的 2.2%。

Other income of $218,000 reflects the low interest rate environment.

218,000 美元的其他收入反映了低利率環境。

The non-GAAP net income for Q2 was $13.1 million or $0.35 per diluted share compared with non-GAAP net income of $8.9 million or $0.23 per share in the first quarter.

第二季非 GAAP 淨利為 1,310 萬美元，即每股攤薄收益 0.35 美元，而第一季非 GAAP 淨利潤為 890 萬美元，即每股 0.23 美元。

In the second quarter, the non-GAAP earnings per share were based on 38 million diluted shares.

第二季度，非公認會計準則每股收益基於 3,800 萬股稀釋後股票。

Total headcount at the end of the second quarter was 827.

第二季末總員工人數為 827 人。

That's up 9% from a year ago, with about 81% of employees dedicated to engineering.

這比一年前增加了 9%，大約 81% 的員工致力於工程工作。

Approximately 68% of our total headcount is located in Asia.

我們總員工總數的約 68% 位於亞洲。

Total accounts receivable at the end of Q2 were $38.3 million or 44 days of sales outstanding versus $34.5 million or 44 DSOs at the end of the prior quarter.

第二季末的應收帳款總額為 3,830 萬美元，即 44 天的未償銷售，而上一季末的應收帳款總額為 3,450 萬美元，即 44 個 DSO。

Net inventory at the end of the second quarter was $42.1 million compared to $33.1 million at the end of the previous quarter.

第二季末的淨庫存為 4,210 萬美元，而上一季末的淨庫存為 3,310 萬美元。

Days of inventory increased to 115 in Q2 from 102 the prior quarter.

庫存天數從上一季的 102 天增加到第二季的 115 天。

On a sequential basis, work in progress was up sequentially to support the rising demand while the finished goods inventory was down and at 2-year lows.

從環比來看，在製品數量環比增加，以支持不斷增長的需求，而製成品庫存則下降並處於兩年低點。

Our Q2 operating cash flow was a positive $14.4 million or about 18% of revenue.

我們第二季的營運現金流為正 1,440 萬美元，約佔營收的 18%。

This compares with an outflow of $4.5 million in the prior quarter.

相比之下，上一季的資金流出為 450 萬美元。

Cash and marketable securities were $449.2 million, up from $435.5 million at the end of the first quarter.

現金和有價證券為 4.492 億美元，高於第一季末的 4.355 億美元。

We had 2 10%-plus customers in Q2.

第二季我們有 2 個超過 10% 的客戶。

WT Microelectronics, a fulfillment partner in Taiwan, who ships to multiple customers in Asia, they represented 62% of revenue.

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 62%。

In Chicony, the Taiwanese ODM who manufactures for multiple customers, was 16% of revenue in the quarter.

為多個客戶製造的台灣 ODM 群光電佔本季營收的 16%。

Dahua and Hikvision combined represented a high single-digit proportion of our revenue.

大華和海康威視合計占我們收入的比例很高。

I will now discuss the outlook for our third quarter of fiscal '22.

我現在將討論 22 財年第三季的前景。

During the second half of the year, we expect output from Samsung's Austin, Texas wafer fab to continue to recover from the February freeze.

下半年，我們預計三星德州奧斯汀晶圓廠的產量將繼續從 2 月的凍結中恢復。

Nevertheless, we continue to experience a variety of industry-wide supply chain challenges.

儘管如此，我們仍面臨全行業供應鏈的各種挑戰。

While extended lead times for wafers and substrates persist, our outlook is also constrained by shortages of other companies' components on our customers' bill of material.

雖然晶圓和基板的交貨時間持續延長，但我們的前景也受到客戶物料清單上其他公司組件短缺的限制。

Based on these factors and our best judgment at the current time, we expect total revenue for the third quarter ending October 31, 2021, to be in the range of $88 million to $92 million revenue from automotive and IoT cameras, primarily security today is expected to increase about 10% sequentially.

基於這些因素以及我們目前的最佳判斷，我們預計截至2021 年10 月31 日的第三季總收入將在8,800 萬美元至9,200 萬美元之間，來自汽車和物聯網攝影機的收入，預計目前主要是安全領域季增約10%。

Other revenue off a low base is expected to have a seasonally strong quarter, but still down on a year-over-year basis.

基數較低的其他收入預計將出現季節性強勁的季度業績，但仍同比下降。

We estimate Q3 non-GAAP gross margin to be between 61% and 63% compared to 62.8% in the second quarter.

我們預計第三季非 GAAP 毛利率將在 61% 至 63% 之間，而第二季為 62.8%。

While we're seeing some higher cost to manage the supply chain, the healthy mix and relatively stable pricing environment may cause our gross margins in the short term to temporarily exceed the high end of our long-term model of 59% to 62%.

雖然我們看到管理供應鏈的成本較高，但健康的組合和相對穩定的定價環境可能會導致我們短期內的毛利率暫時超過長期模型的高端 59% 至 62%。

We expect non-GAAP OpEx in the third quarter to be between $36 million and $37.5 million.

我們預計第三季非 GAAP 營運支出將在 3,600 萬美元至 3,750 萬美元之間。

The Q3 non-GAAP tax rate should be modeled in the 3% to 6% range.

第三季非公認會計準則稅率應在 3% 至 6% 範圍內建模。

And we estimate our diluted share count for Q3 to be approximately 38.3 million shares.

我們估計第三季的稀釋後股票數量約為 3,830 萬股。

Ambarella will be participating in the Jefferies one-on-one conference tomorrow, September 1, Credit Suisse's Asian Technology Conference on September 7, Deutsche Bank and Colliers conferences, both on September 9, Evercore Autotech and AI Forum on September 21 and Berenberg CEO Conference in New York on November 9. And as Fermi noted, please mark your calendar for our Capital Markets Day on January 4 at our CES location in Las Vegas.

Ambarella 將於明天（即9 月1 日）參加Jefferies 一對一會議、9 月7 日舉行的瑞士信貸亞洲技術會議、9 月9 日舉行的德意志銀行和高力會議、9 月21 日舉行的Evercore Autotech 和人工智慧論壇以及Berenberg 執行長會議11 月 9 日在紐約舉行。

Thank you for joining the call today.

感謝您今天加入通話。

And with that, Jonathan, I'll turn it back to you for the Q&A session with Fermi and Casey.

接下來，喬納森，我會將其轉回給您，以便與費米和凱西進行問答。

(Operator Instructions) Our first question comes from the line of Gary Mobley from Wells Fargo Securities.

（操作員指示）我們的第一個問題來自富國銀行證券公司的加里‧莫布里（Gary Mobley）。

Let me extend my congratulations on strong results, but as well the fruition of the transformation of the company, good execution.

讓我對強勁的業績、公司轉型的成果以及良好的執行力表示祝賀。

And my question relates to the progression of your quarterly revenue.

我的問題與你們季度收入的進展有關。

You just grew revenue $9 million sequentially.

您剛剛連續增加了 900 萬美元的收入。

You're expecting to grow $11 million in the current quarter sequentially.

您預計本季的營收將連續成長 1,100 萬美元。

And so I have no doubt that the demand is strong, but are those sequential increases largely a function of a strong demand backdrop, a strong backlog and as well, better access to foundry capacity.

因此，我毫不懷疑需求強勁，但這些連續成長很大程度上是強勁需求背景、大量積壓以及更好地利用代工產能的結果嗎？

And related to that, could you give us some sort of metric as it relates to unfilled backlog as at the end of the July quarter compared to the prior quarter?

與此相關，您能否給我們一些與 7 月季度末與上一季相比未完成的積壓相關的指標？

Right.

正確的。

So first of all, our continued revenue increase is due to the strong demand of our CV portfolio.

首先，我們的收入持續成長是由於我們的履歷產品組合的強勁需求。

If you look at our revenue growth this year over last year, I think CV is a majority of that growth.

如果你看看我們今年與去年相比的收入成長，我認為履歷是成長的主要部分。

Last year, we did $25 million CV revenue.

去年，我們的履歷收入為 2500 萬美元。

And this year, we do 25% total revenue from CV.

今年，我們總收入的 25% 來自 CV。

And you can calculate the difference.

您可以計算差異。

And that basically come from 2 different reasons.

這主要有兩個不同的原因。

One is we talk about this, our CV ASP is twice higher than the video processor.

一是我們談論這個，我們的CV ASP比視訊處理器高出兩倍。

So even just replacing the previous product, we are getting more revenue from that.

因此，即使只是替換以前的產品，我們也能從中獲得更多收入。

But more importantly, I think CV take us into 2 things.

但更重要的是，我認為履歷將我們帶入兩件事。

One is new product cycles in existing markets.

一是現有市場的新產品週期。

For example, our security camera.

例如，我們的安全攝影機。

A lot of the old video-only product is replaced by AI-based video cameras.

許多舊的純視訊產品被基於人工智慧的攝影機所取代。

And also, we are reaching into new markets.

此外，我們正在進入新市場。

We talk about access control, we talk about in automotive, we have DMS, we have all kind of multifunction device that we're penetrating into.

我們談論存取控制，我們談論汽車領域，我們有DMS，我們有我們正在滲透的各種多功能設備。

So this combination of those other things on the CV side basically provide the majority of our growth.

因此，履歷表方面的其他因素的結合基本上為我們的成長提供了大部分。

On the supply side, Texas foundry was a problem in Q1 and Q2, but we will recover from the second half, like Louis said, and that will become less impact.

在供應方面，德州代工廠在第一季和第二季遇到了問題，但我們將從下半年恢復，就像路易斯所說，影響會變得較小。

And we still be impacted by other component shortage for our -- because when our customers to build their products, it's not just our supplies, everybody's else supplies matters.

我們仍然受到其他零件短缺的影響，因為當我們的客戶製造他們的產品時，不僅僅是我們的供應，其他所有人的供應都很重要。

So I think that's going to be continued limiting factor.

所以我認為這將繼續成為限制因素。

But however, I don't see that become Q3, Q4 is more significant in Q2 impact from this point of view.

但是，從這個角度來看，我認為第三、第四季對第二季的影響並不更大。

Go ahead.

前進。

Go ahead.

前進。

I was just going to say my follow-up is related.

我只是想說我的後續行動是相關的。

And so if you have more supply coming on against the backdrop of strong demand.

因此，如果在需求強勁的背景下出現更多供應。

And I know your other business might be seasonally soft in the fourth quarter.

我知道您的其他業務在第四季度可能會出現季節性疲軟。

All those things considered, do you think you can grow your fourth quarter revenue sequentially?

考慮到所有這些因素，您認為第四季的收入能夠連續成長嗎？

We haven't provided guidance yet.

我們還沒有提供指導。

But however, like you said, our consumer -- our traditional consumer business has a seasonality in there, the play industry we can consider that.

但是，就像你說的，我們的消費者——我們的傳統消費者業務有季節性，我們可以考慮遊戲產業。

But I do believe that our CV revenue continue to be strong, not only just for this year, but will continue to be strong in the near future because like I said, we see a huge amount of design win activity.

但我確實相信我們的履歷收入繼續強勁，不僅是今年，而且在不久的將來也將繼續強勁，因為就像我說的，我們看到了大量的設計獲勝活動。

We talked about 200-plus customers purchasing our CV silica wafer design of silicons and also only 60 of them are in production right now.

我們談到有 200 多家客戶購買了我們的 CV 矽片設計，但其中目前只有 60 家投入生產。

So you see there's a big momentum on the CV side.

所以你會看到履歷方面勢頭強勁。

So I would prefer to look at it as a long-term business, there's going to continue to be a strength on the CV side for us.

因此，我更願意將其視為一項長期業務，我們在履歷方面將繼續保持優勢。

Our next question comes from the line of Joe Moore from Morgan Stanley.

我們的下一個問題來自摩根士丹利的喬摩爾。

Great.

偉大的。

My question is on driver monitoring.

我的問題是關於駕駛員監控。

You guys had a number of key wins there from KeepTruckin and Yandex and a couple of others during the quarter.

在本季度，你們從 KeepTruckin 和 Yandex 以及其他幾家公司取得了許多關鍵勝利。

And that seems like something that can start to be in production vehicles fairly soon with you guys having a good presence.

隨著你們的良好表現，這似乎很快就會開始應用於量產車。

Can you kind of talk about where we are with OEM penetration of driver monitoring and when you might -- when that might become a more material part of your revenue?

您能否談談我們在原始設備製造商（OEM）對駕駛員監控的滲透方面處於什麼位置，以及您什麼時候可以——什麼時候這可能成為您收入的更重要部分？

Right.

正確的。

So I think you're talking about the fleet management that's what we called it.

所以我認為你談論的是我們所說的車隊管理。

And most of it is commercial vehicles.

而且大部分是商用車。

And first of all, I think that, that market is sizable.

首先，我認為這個市場很大。

I think the existing market is the vehicle is roughly 50 million, 60 million units and grow at 10% a year.

我認為現有的汽車市場大約是5000萬輛、6000萬輛，並且每年以10%的速度成長。

And we believe that the old design win we just mentioned this time and in the previous time, most -- majority of them will be in production this year and ramping up next year.

我們相信，我們剛才提到的這次和上一次的舊設計勝利，其中大多數將在今年投入生產，並在明年增加。

So you should start seeing revenue this year and hopefully that we can see a lot more next year.

因此，您今年應該開始看到收入，並希望明年我們能看到更多。

And in terms of passenger vehicles, I mean, it's part of the European NCAP standards already.

我的意思是，就乘用車而言，它已經成為歐洲 NCAP 標準的一部分。

I mean it seems like there should be some adoption in luxury passenger vehicles relatively soon.

我的意思是，看起來豪華乘用車應該很快就會得到一些採用。

Well, first of all, we talk a lot about our Chinese design wins already.

好吧，首先，我們已經談論了很多關於中國設計的勝利。

But for the Europe and U.S., we are not allowed to talk about, but I definitely think that's a focus area that we continue to work hard to make sure that we make progress there.

但對於歐洲和美國，我們不被允許談論，但我絕對認為這是我們繼續努力確保我們在那裡取得進展的一個重點領域。

Our next question comes from the line of Matt Ramsay from Cowen.

我們的下一個問題來自 Cowen 的 Matt Ramsay。

My first question, for me, it's pretty obvious from the strong results and the momentum that you guys are seeing that one of the thesis points around HiSilicon being challenged in terms of their own production as one of your main competitors that you guys are picking up more and more design wins from -- you announced, I think, a couple of new security customers from China on the call today, talked about the momentum with Motorola and all of their subsidiaries and a lot of folks that are shipping into international camera markets.

我的第一個問題，對我來說，從你們看到的強勁業績和勢頭中可以明顯看出，圍繞海思的一個論點是，作為你們的主要競爭對手之一，海思在自己的生產方面受到了挑戰。市場的人們的勢頭。

And I guess my question, the first question is do you -- you concur that, that's actually playing out.

我想我的問題是，第一個問題是你是否同意這一點，這實際上正在發生。

And I guess, what inning of that sea change and you're taking some of those wins are we in?

我想，我們正處於那場巨變的哪一局，而你正在取得一些勝利？

And I guess second part of the question is, have you seen new competition starting to pop up?

我想問題的第二部分是，您是否看到新的競爭開始出現？

And what does the competitive landscape look like for CV now with the industry digesting that HiSilicon might be permanently impaired?

隨著業界消化海思可能會永久受損，CV 現在的競爭格局是什麼樣的？

Right.

正確的。

First of all, your observation on the HiSilicon and our momentum in China, outside China is correct.

首先，您對海思以及我們在中國和海外的勢頭的觀察是正確的。

And even in the past, when we compete with HiSilicon, Hikvision use our silicon for export business mainly, right?

而且即使在過去，當我們與海思競爭時，海康威視主要將我們的晶片用於出口業務，對吧？

So it's not a surprise for us that we continue to have strong holding on the outside China.

因此，我們繼續在中國以外地區保持強勢地位，這對我們來說並不奇怪。

But inside China, we'll start picking up some markets like we talk about that, while we talk about now 4 new Chinese duty camera customer using our solution for CVs.

但在中國國內，我們將開始開拓一些市場，就像我們談論的那樣，同時我們談論現在有 4 個新的中國值班攝影機客戶使用我們的商用車解決方案。

So I think the momentum is right.

所以我認為勢頭是正確的。

In terms of competition, I can tell you that there are probably I don't want to exaggerate maybe 20, 30 different company start-up or existing company trying to compete and try to grab a share that HiSilicon left.

在競爭方面，我可以告訴你，我不想誇大的話，可能有20、30家不同的新創公司或現有公司試圖競爭並試圖搶佔海思留下的份額。

But however, I would say, majority of them are fighting at the very low end, the $2, $3 ASP type of solution.

但我想說的是，他們中的大多數人都在極低端，即 2 美元、3 美元的 ASP 類型的解決方案中戰鬥。

And on the CV side, all of them are focusing on low end and I haven't seen anybody build a platform that we do, right?

在CV方面，他們都專注於低端，我還沒有看到有人建立像我們這樣的平台，對吧？

When we talk about our CVflow SoCs, we talk about 6 different silicon cover a very wide range of performance, a wide range of ASPs.

當我們談論我們的 CVflow SoC 時，我們談論的是 6 種不同的晶片，涵蓋非常廣泛的性能和廣泛的 ASP。

We see strong competition on the low-end side.

我們看到低端市場的競爭非常激烈。

We see very little everywhere else.

我們在其他地方看到的很少。

So I think that it continues to be our strategy that we want to leverage our platform and to cover the most important customers to convince them to use us from the bottom to the top.

因此，我認為我們希望利用我們的平台並覆蓋最重要的客戶，以說服他們從下到上使用我們，這仍然是我們的策略。

And it's also our strategy to continue to maintain our leadership on the middle and high end moving forward.

這也是我們持續保持在中高端市場領先地位的策略。

Got it.

知道了。

No, that's really helpful color for me.

不，這對我來說真的很有幫助。

As my follow-up question, it's pretty remarkable to see operating margin in the guidance for your October quarter above 20%.

作為我的後續問題，在 10 月季度的指導中看到營業利潤率超過 20%，這是非常了不起的。

I think it was down about 5% in the October quarter a year ago.

我認為一年前的 10 月季度下降了約 5%。

And obviously, there were some COVID headwinds back then.

顯然，當時存在一些新冠疫情的不利因素。

But I guess my question is, how do you feel like the company -- I guess the question for all 3 of you guys is how do you feel like the company is staffed and funded right now, both from a sales marketing bizdev point of view and obviously, from an R&D point of view as it sounds like the company continues to expand and attack some of these markets.

但我想我的問題是，你們對這家公司感覺如何——我想你們三個人的問題是，從銷售行銷業務開發的角度來看，你們覺得公司現在的人員和資金如何？的角度來看，聽起來該公司正在繼續擴張並進攻其中一些市場。

And what kind of margins are we talking about as we continue to get leverage?

當我們繼續獲得槓桿時，我們談論的利潤率是多少？

Right.

正確的。

So first of all, I think you already noticed that in the last 12 months, we have to start ramping up our business development staff, particularly in U.S. and Europe.

首先，我想您已經注意到，在過去 12 個月中，我們必須開始增加業務開發人員，特別是在美國和歐洲。

And we hired a brand new team in Europe.

我們在歐洲聘請了一支全新的團隊。

We hired a new automotive sales team in U.S., and we continue to size up our Asian sales team, particularly for automotive business.

我們在美國聘請了一支新的汽車銷售團隊，並繼續擴大亞洲銷售團隊的規模，特別是汽車業務。

So from a business development point of view, we have been hiring for the last 12 months.

因此，從業務發展的角度來看，過去 12 個月我們一直在招募。

On the R&D side, if you look at the headcount, we go from 700 plus last year to 800 plus this year, to give you a good indication that we're also ramping up our engineering resource, which already is part of our R&D expenses in Q1, Q2 and continue to be in the future.

在研發方面，如果你看一下員工人數，我們從去年的 700 多人增加到今年的 800 多人，這很好地表明我們也在增加我們的工程資源，這已經是我們研發費用的一部分第一季度、第二季以及未來仍然如此。

Our strategy is we're going to continue to invest more in terms of CV technology as well as more development cycles into our next-generation phase product.

我們的策略是，我們將繼續在 CV 技術方面進行更多投資，並為我們的下一代階段產品提供更多的開發週期。

And also, at the same time, continue to develop the advanced nodes with our 5-nanometer.

同時，繼續使用我們的 5 奈米技術開發先進節點。

I believe there were multiple 5-nanometer chip were coming up on our road map.

我相信我們的路線圖上將會出現多種 5 奈米晶片。

And we need to start with -- we need to go to -- we need to go to 4 and 3 nanometers, and that's all really investment we need to do.

我們需要開始——我們需要進入——我們需要進入 4 奈米和 3 奈米，這就是我們真正需要做的投資。

But by saying that, I also want to emphasize that I think that we have -- we continue to have leverage on our operating margin is a very important factor when we look at how we're managing our business.

但透過這麼說，我還想強調，我認為，當我們考慮如何管理我們的業務時，我們繼續對營業利潤率具有槓桿作用，這是一個非常重要的因素。

So I think that we are in a position that we can continue to increase and improve our engineering and the business development investment while continue to see leverage on the operating margin point of view.

因此，我認為我們可以繼續增加和改善我們的工程和業務開發投資，同時繼續看到營運利潤率的槓桿作用。

Our next question comes from the line of Tore Svanberg from Stifel.

我們的下一個問題來自 Stifel 的 Tore Svanberg。

Congratulations on the strong results.

祝賀取得了優異的成績。

I just had a question on the guidance.

我只是對指導有個疑問。

So just so I make sure I understand this correctly.

所以我要確保我正確理解這一點。

So basically $90 million at the midpoint, that assumes all the sort of industry-wide shortages that are going on.

因此，假設整個產業都出現短缺，中間值基本上為 9000 萬美元。

So if there is some easing there there could be some potential upside.

因此，如果有一些寬鬆政策，可能會有一些潛在的上漲空間。

Is that how I should read it?

我應該這樣讀嗎？

Yes.

是的。

That's our best judgment right now, and we think that's the right guidance to have today.

這是我們目前最好的判斷，我們認為這是今天的正確指引。

But as you've commented, and I think Fermi has as well, there's still a lot of activity going on up and down the food chain, and we have to keep an eye on that as well.

但正如你所評論的，我認為費米也是如此，食物鏈上下游仍然有很多活動在發生，我們也必須密切注意。

Very good.

非常好。

And as my follow-up, could you elaborate a little bit more on CV5?

作為我的後續行動，能否詳細介紹一下 CV5？

I mean it sounds like from a product development perspective, it's been a big success, very strong execution.

我的意思是，從產品開發的角度來看，它取得了巨大的成功，執行力非常強大。

When should we expect to see some production revenue and ramps for the CV5 product line?

我們什麼時候可以看到 CV5 產品線的一些生產收入和產能提升？

Right.

正確的。

First of all, CV5 is very important because it's going to be -- it is our most advanced technology not only because of 5-nano but also from a performance point of view.

首先，CV5 非常重要，因為它將成為我們最先進的技術，不僅因為 5 奈米，而且從性能的角度來看。

So this chip now, you could do 8K video at 2 amp power but also we can integrate multiple camera into the silicon and so that we can serve multi-camera solution for automotive for security.

現在，這款晶片可以在 2 安培功率下播放 8K 視頻，而且我們還可以將多個攝像頭整合到晶片中，這樣我們就可以為汽車安全提供多攝像頭解決方案。

So basically, this is really for anybody who wants to have a high-end system, this is a perfect chip for them.

所以基本上，這確實適合任何想要擁有高端系統的人，這對他們來說是一個完美的晶片。

And we have already secured multiple design wins with the chip.

我們已經透過該晶片贏得了許多設計勝利。

And I believe that first half next year, we will start -- see people start ramping up into mass production and material revenue coming in second half of next year.

我相信明年上半年，我們將開始——看到人們開始大規模生產，材料收入將在明年下半年到來。

Sounds good.

聽起來不錯。

Congratulations, again.

再次恭喜。

Thank you.

謝謝。

Our next question comes from the line of Ross Seymore from Deutsche Bank.

我們的下一個問題來自德意志銀行的 Ross Seymore。

Congrats to the strong quarter and the strong guide.

祝賀強勁的季度和強勁的指南。

Just wanted to get into the supply side again.

只是想再次進入供給面。

Is the tailwind from the Texas fab coming back online, a meaningful driver of the upside in the October quarter?

來自德州晶圓廠的推動力是否會重新上線，成為十月份季度上漲的重要推手？

And do you expect that to be done in the October quarter?

您預計這會在十月季度完成嗎？

And I realize there are shortages elsewhere, but I'm just trying to localize that one dynamic.

我意識到其他地方也存在短缺，但我只是試圖將這一動態本地化。

I believe that the Texas foundry impact in Q4 will be minimal.

我相信第四季德州代工廠的影響將是最小的。

I don't think it's totally end, but I don't think that's going to be a severe impact to us.

我不認為這完全結束，但我不認為這會對我們產生嚴重影響。

And also, I would also add that throughout this process, we work closely with our foundry partner, Samsung, try to address those problems.

另外，我還要補充一點，在整個過程中，我們與我們的代工夥伴三星密切合作，試圖解決這些問題。

And I think throughout this productive exercise, we know exactly where we are at.

我認為，在這次富有成效的活動中，我們確切地知道自己所處的位置。

We communicate to a customer proactively.

我們主動與客戶溝通。

So although it's a crisis, but also definitely show not -- we have a great supplier, but also show to our customer that we are a trustworthy partner with them by continue communicating the problem and working with them to solve their problem.

因此，雖然這是一場危機，但也絕對表明不是——我們有一個優秀的供應商，但也透過繼續溝通問題並與他們合作解決他們的問題，向我們的客戶表明我們是他們值得信賴的合作夥伴。

The other thing I'd reiterate again is those are the things we control, the things we don't control are parts for other people that we have to kind of modify whatever parts that they're getting restrained on as well.

我要再次重申的另一件事是，這些是我們控制的事情，我們無法控制的事情是其他人的部分，我們必須修改他們也受到限制的任何部分。

So we're doing a great job.

所以我們做得很好。

Our team is doing a great job of considering the things we can control that there's obviously always things that we can't control as well.

我們的團隊在考慮我們可以控制的事情方面做得很好，但顯然總是有我們無法控制的事情。

So that's why we have some caution to it.

這就是為什麼我們對此持謹慎態度。

And for my follow-up, I just want to return to the seasonality framework.

對於我的後續行動，我只想回到季節性框架。

And Fermi, you mentioned earlier about considering the consumer/other category as we look into the fiscal fourth quarter.

費米，您之前提到在我們研究第四財季時考慮消費者/其他類別。

But if you put all the puts and takes into your 2 main categories, the IP security cameras and the automotive side of things, is seasonality even an issue in there?

但如果你把所有的投入和投入都歸入你的兩個主要類別，即IP安全攝影機和汽車方面，季節性甚至是一個問題嗎？

Or given the fact that more supply is coming on, shortages in a bunch of different places, a ton of new products design wins that you have and new product launches, et cetera.

或者考慮到供應即將增加、許多不同地方出現短缺、大量新產品設計獲勝以及新產品發布等事實。

Are those latter dynamics just overwhelming any seasonality in your core businesses as we look into the fiscal fourth quarter?

當我們展望第四財季時，後一種動態是否會壓倒您核心業務的季節性？

Or is seasonality consideration that we need to have.

或者說我們需要考慮季節性因素。

Yes.

是的。

I think you're right.

我想你是對的。

As we look forward, we've been saying that we think that, that part of that business that you had talked about at the end was going to go over over the next 2 to 3 years, slowly decline.

展望未來，我們一直在說，我們認為，您最後談到的那部分業務將在未來 2 到 3 年內慢慢下降。

Now it does have some seasonality.

現在它確實有一些季節性。

It can be up and down.

它可以向上也可以向下。

But really, the focus point is what you started with.

但實際上，焦點是你開始的地方。

That's really where we're focused right now today.

這確實是我們今天關注的焦點。

That's where we're getting the growth and the opportunities.

這就是我們獲得成長和機會的地方。

And the traditional business, I think we'll have some quarters up in some quarters down.

對於傳統業務，我認為我們會出現一些季度的成長，一些季度的下降。

But overall, they'll be continuing to deteriorate over the next 2 to 3 years.

但總體而言，未來兩到三年內它們將繼續惡化。

Our next question comes from the line of Suji Desilva from ROTH Capital.

我們的下一個問題來自羅斯資本 (ROTH Capital) 的 Suji Desilva。

Congrats on recovering to record revenues in the long road back, no pun intended.

恭喜您在漫長的回歸之路上恢復了創紀錄的收入，這不是雙關語。

So a couple of follow-ups.

所以有幾個後續行動。

On the auto semi fleet management, rather, a 50 million to 60 million unit opportunity.

在汽車半車隊管理方面，相反，有 5000 萬至 6000 萬輛的機會。

What do you think AMBA's share opportunity there could be?

您認為AMBA的分享機會有哪些？

And what's the competitive landscape for fleet management?

車隊管理的競爭格局如何？

Right.

正確的。

So first of all, I think the biggest variable is how fast this video -- AI-based video camera will penetrate into this market, right?

所以首先，我認為最大的變數是這個影片——基於人工智慧的攝影機會以多快的速度滲透到這個市場，對吧？

Right now, majority, majority, majority of the market still doesn't have any video in there.

現在，大多數、大多數、大多數市場仍然沒有任何影片。

So I think the biggest question is how fast the penetration rate is going to be.

所以我認為最大的問題是滲透率有多快。

I think that's a good question.

我認為這是一個好問題。

We don't have an answer on that.

我們對此沒有答案。

But from the competitive landscape, I think the biggest competitor we are seeing is Qualcomm.

但從競爭格局來看，我認為我們看到的最大競爭對手是高通。

They are selling their solution with 5G in there.

他們正在銷售 5G 的解決方案。

So however, that with our power consumption of much better video quality of computer vision performance, we continue to achieve much better performance on this market.

然而，隨著我們的電腦視覺性能的視訊品質更好的功耗，我們繼續在這個市場上取得更好的性能。

So I think that we're competing with Qualcomm on this market.

所以我認為我們正在這個市場上與高通競爭。

But at the same time, this market is relatively small.

但同時，這個市場也相對較小。

I hope that penetration rate will increase dramatically in the future when this technology becomes more widely available and being required by regulations, then that will change the really market dynamics.

我希望未來當這項技術變得更加廣泛可用並受到法規要求時，滲透率將大幅提高，那麼這將改變真正的市場動態。

That's very helpful for me in terms of color.

這對我在色彩方面非常有幫助。

Suji, it's Louis.

蘇吉，我是路易斯。

I was just going to add, the installed base, as Fermi said, is 50 million to 60 million commercial vehicles in the world.

我只是想補充一點，正如費米所說，全球商用車的安裝量為 5,000 萬至 6,000 萬輛。

And it's a market where there's a monthly reoccurring revenue for the service providers.

這是一個服務提供者每月都有經常性收入的市場。

And it typically is for telematics type applications.

它通常用於遠端資訊處理類型的應用。

And they view ADAS as very attractive because they can get incremental monthly revenue by offering ADAS features, whether it's monitoring the driver or front-facing ADAS camera or both in the case of some of the announcements we've made.

他們認為 ADAS 非常有吸引力，因為他們可以透過提供 ADAS 功能來獲得每月增量收入，無論是監控駕駛員還是前置 ADAS 攝像頭，或者在我們發布的一些公告中，這兩者都是如此。

So this is an existing market.

所以這是一個現有的市場。

And they're just adding additional services on top of the telematics service they already offer.

他們只是在已經提供的遠端資訊處理服務的基礎上添加額外的服務。

Okay.

好的。

That's exciting opportunity for them.

這對他們來說是令人興奮的機會。

And then a follow-up on the CV5S, 52S products multi-imager.

接著是後續的CV5S、52S產品多功能成像儀。

I just want to understand, Fermi, the architectural difference here.

費米，我只是想了解這裡的架構差異。

Your prior products could take in multiple video feeds, but that seems different from what you've done here.

您之前的產品可以接收多個視訊來源，但這似乎與您在這裡所做的不同。

Is this maybe 2 separate CV stacks handling different images independently versus before they were all feeding into one?

這是否可能是 2 個單獨的 CV 堆疊獨立處理不同的影像，而不是之前將它們全部輸入到一個影像中？

Is that the difference here?

這就是差別嗎？

I'm just trying to understand the difference.

我只是想了解其中的差異。

Well, it's really about total CV performance, right?

嗯，這確實與簡歷的整體表現有關，對吧？

In the past, we can take in 4 1080p 30 videos.

過去，我們可以拍攝4支1080p 30影片。

Now we can take in 4 4K video.

現在我們可以拍攝 4 4K 影片了。

So we basically quadruple the video performance without increasing the power consumption.

因此，我們基本上在不增加功耗的情況下將視訊效能提高了四倍。

And basically -- and/or you can look at it still on the 2K video, then we can take in 16 cameras and which really become -- if you look at the current autonomous driving people talking about more and more video into one chip, but also even for security camera, there are other people working on multi-sensor multi-imager system for the security camera.

基本上- 和/或你仍然可以在2K 視頻上看到它，然後我們可以容納16 個攝像頭，這真的成為- 如果你看看當前自動駕駛人們談論越來越多的視頻集成到一個芯片中，但即使對於安全攝影機，也有其他人致力於安全攝影機的多感測器多成像系統。

So I think this really plays very well for those customers who want to build a high-end system because they want to continue to scale the size of the image as well as number of stream going to the chip.

因此，我認為這對於那些想要建立高端系統的客戶來說確實非常有用，因為他們想要繼續擴展圖像的大小以及進入晶片的流的數量。

Our next question comes from the line of Quinn Bolton from Needham & Company.

我們的下一個問題來自 Needham & Company 的 Quinn Bolton。

I just wanted to offer my congratulations, but then follow up on the automotive CV opportunity last quarter.

我只是想表示祝賀，然後跟進上個季度的汽車簡歷機會。

I think you said you had surpassed 450,000 cumulative units.

我想你說你已經超過了450,000個累計單位。

Wondering if you could give us an update on that figure?

想知道您能否提供我們該數字的最新情況？

Or if you can't, could you maybe just comment whether that rate is accelerating.

或者如果你不能，你可以評論一下這個速度是否正在加速。

And then I've got a follow-up.

然後我有後續行動。

Well, we can definitely offer you a number later, and we'll make it public.

好吧，我們稍後肯定可以向您提供一個數字，並且我們會將其公開。

We don't prepare number.

我們不准備號碼。

But definitely, the trend continues.

但可以肯定的是，這種趨勢仍在繼續。

It didn't stop.

它沒有停止。

Also, for example, last time, we talked about our automotive revenue will double from last year to this year, I think that forecast continue to hold, and we believe that we can deliver that.

另外，例如，上次我們談到我們的汽車收入將比去年翻一番，今年我認為這個預測繼續保持不變，我們相信我們可以實現這一目標。

So just give you another indication of automotive revenue continue doing well.

因此，請再給您一個汽車收入繼續表現良好的跡象。

right now.

現在。

Great.

偉大的。

And the second question is sort of related.

第二個問題有點相關。

With the fleet management wins starting production this year guiding to higher revenue, next year, it sort of feels like perhaps that Wave 3 opportunity you've talked about maybe starting earlier.

隨著今年開始生產的車隊管理勝利將帶來更高的收入，明年，感覺有點像您談到的第三波機會可能會更早開始。

In CV for professional, you certainly have some pretty good traction, but I haven't heard as many consumer camera applications.

在專業履歷中，你當然有一些相當好的吸引力，但我還沒有聽說過那麼多消費型相機應用。

So I'm kind of wondering, are you seeing Wave 3 perhaps becoming a bigger opportunity and perhaps surpassing the Wave 2 consumer camera opportunity here over the next year or 2?

所以我有點想知道，您是否認為 Wave 3 可能會成為一個更大的機會，並且可能在未來一兩年內超越 Wave 2 消費相機機會？

Well, this year, we talk about Amazon doing consumer IP cam and there are others coming up which we haven't announced yet.

嗯，今年，我們談論亞馬遜正在開發消費者 IP 攝影機，還有其他我們尚未宣布的產品即將推出。

So we still feel comfortable that Wave 2 will be there.

所以我們仍然對第二波的到來感到放心。

But you are right, Wave 3, we are ahead of schedule.

但你是對的，第 3 波，我們提前了。

And we do believe that we can deliver better results than we promised even fast.

我們確實相信我們可以更快地交付比我們承諾的更好的結果。

Our next question comes from the line of Kevin Cassidy from Rosenblatt Securities.

我們的下一個問題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。

Yes, I was going to ask about the Wave 2. Last quarter, you had talked about Ring introducing 2 new cameras based on CV.

是的，我想問 Wave 2。

And I wonder just how that launch is going?

我想知道這次發射進度如何？

And can you talk about your pipeline going into the October and even into the January quarter for home security?

您能談談您的家庭安全管道將進入十月甚至一月季度嗎？

One thing I can say is Amazon is one of the largest customer because of the CV product line.

我可以說的一件事是，由於履歷產品線，亞馬遜是最大的客戶之一。

I think that's definitely a true statement that we didn't say it, but I think that's one thing to highlight here.

我認為這絕對是我們沒有說過的真實陳述，但我認為這是這裡需要強調的一件事。

And also, we believe that our consumer IP cam design win momentum is there.

而且，我們相信我們的消費者 IP 攝影機設計的獲勝動力就在那裡。

We are waiting for customers to be going to production this year.

我們正在等待客戶今年投入生產。

And also more going to production next year.

明年還會有更多產品投入生產。

So I will say that our Wave 2 revenue is already materialized because of the Amazon's design win and also that we will be more accurate later this year and early next year.

所以我想說，由於亞馬遜的設計勝利，我們的 Wave 2 收入已經實現，而且我們將在今年晚些時候和明年初更加準確。

Okay.

好的。

Great.

偉大的。

And congratulations on being able to increase your inventory in this market.

祝賀您能夠增加您在這個市場的庫存。

Is most of that CV product is the difference is because it's a higher priced product that the days of inventory are higher?

大多數 CV 產品的差異是否是因為它是價格較高的產品，庫存天數較高？

Yes, that's definitely the proper reason because you can see that the way we are growing our CV revenue, even as same unit number, our cost doubled.

是的，這絕對是正確的原因，因為您可以看到，我們增加商用車收入的方式，即使單位數量相同，我們的成本也翻了一番。

So that definitely adds to the total cost dollar sizewise in terms of inventory.

因此，就庫存而言，這肯定會大大增加總成本。

But also, I have to say that, that also is a sign that we believe that we can continue to have a strong demand on our product lines and that's why we continue to build up our inventory.

但我不得不說，這也表明我們相信我們的產品線可以繼續有強勁的需求，這就是我們繼續建立庫存的原因。

And of course, the third thing is that we continue to worry about whether this industry-wide short supply will continue, and it's prudent for us to build up more revenue -- more inventory just in case that the shortage persists.

當然，第三件事是我們繼續擔心這種全行業的供應短缺是否會持續下去，對我們來說，謹慎的做法是建立更多的收入——更多的庫存，以防短缺持續存在。

So the combination of that is the reason we build out those revenues -- inventories.

因此，這就是我們增加這些收入（庫存）的原因。

Right.

正確的。

Yes, I think that's very prudent.

是的，我認為這是非常謹慎的。

(Operator Instructions) Our next question comes from the line of Andrew Buscaglia from Berenberg.

（操作員說明）我們的下一個問題來自貝倫貝格的安德魯·布斯卡利亞（Andrew Buscaglia）。

So I just want to follow up on the security side, actually, so maybe 2 parter, if you can, I don't mean to cheat on the new rule here.

所以我只想在安全方面跟進，實際上，所以也許兩個夥伴，如果可以的話，我並不是想在這裡欺騙新規則。

Go ahead.

前進。

You got time.

你有時間。

Go ahead.

前進。

So security, yes.

所以安全，是的。

So your gross margin, you're kind of tracking towards the higher end or above the higher end of the kind of that range.

所以你的毛利率，你有點接近該範圍的高端或高於該範圍的高端。

Can you kind of update us on some of those bigger professional guys coming back in a more meaningful way this year that you guys think you alluded that gross margin kind of backtracking eventually again?

您能否向我們介紹今年一些更大的專業人士以更有意義的方式回歸的最新情況，你們認為您最終再次暗示了毛利率的回溯？

And then maybe like I thought 10% sequential growth in securities seems a little bit low considering you have this home security stuff coming.

然後，也許就像我認為的那樣，考慮到即將推出的家庭安全產品，證券 10% 的連續成長似乎有點低。

Can you talk a little bit more about that?

能多談談嗎？

Like I would think 10% in Q2 would be -- I think that will be a little bit higher number up sequentially.

就像我認為第二季的 10% 會是——我認為這個數字會比上一季更高。

Well, first of all, I think that in China, I don't think Hikvision will come back anytime soon.

嗯，首先，我認為在中國，我認為海康威視不會很快回來。

I think that we have talked about this before.

我想我們之前已經討論過這個問題了。

And on the -- one thing that we also like we talked about last time is on the high-end security camera, we were impacted by the substrate, and we continue to see that impact.

我們上次談到的一件事是在高階安全攝影機上，我們受到基材的影響，我們將繼續看到這種影響。

Although the impact is not as big as Texas foundry situation, but we did talk about the substrate supplier shortage definitely impact our CV revenue on the security camera and that impact continued to be there.

雖然影響不像德州代工廠的情況那麼大，但我們確實談到了基板供應商短缺肯定會影響我們在安全攝影機上的CV收入，而且這種影響仍然存在。

So -- and that also reflects on our revenue forecast on our high-end market.

所以——這也反映了我們對高端市場的營收預測。

So that just give you information about why (inaudible) continue is a problem for us.

因此，這只是向您提供有關為什麼（聽不清楚）繼續對我們來說是一個問題的資訊。

And again, it could be based off of other supplies that are customary as well.

同樣，它也可以基於其他常見的供應。

And so part of it is an impact that we have and part of it is the other customers.

因此，部分是我們的影響，部分是其他客戶的影響。

Right.

正確的。

From a gross margin point of view, I think we continue to see that although we believe in the long term, our revenue -- I'm sorry, gross margin guidance continue to be 59% to 62%, but because our momentum on the CV solution and it's just been introduced recently, and we continue enjoying the first to again, gross margin.

從毛利率的角度來看，我認為我們繼續看到，儘管我們相信長期來看，我們的收入 - 對不起，毛利率指導仍然是 59% 至 62%，但因為我們的勢頭CV 解決方案最近剛剛推出，我們繼續享受毛利率第一。

But eventually, I think you will go back down to 59% to 62% as our long-term guidance.

但最終，我認為你會回到 59% 到 62% 作為我們的長期指導。

Our next question comes from the line of Brian Ruttenbur from Imperial Capital.

我們的下一個問題來自帝國首都的布萊恩·魯滕伯（Brian Ruttenbur）。

Yes.

是的。

So I'll keep mine to one.

所以我會把我的保留為一。

So on the security and automotive, can you break down, that was 90% of your total revenue.

那麼，在安全性和汽車領域，您能細分一下嗎，這佔了您總收入的 90%。

Can you break down the difference between the 2?

你能分解一下2者之間的差異嗎？

What's growing faster?

什麼成長得更快？

Maybe give us a little trends, especially on the security side is where I'm more focused on what you're seeing?

也許給我們一些趨勢，特別是在安全方面，我更關注你所看到的？

Brian, it's Louis.

布萊恩，我是路易斯。

So the automotive business was in the low 20% range, and that's a business we've said is going to more than double this year.

因此，汽車業務處於 20% 的低水平範圍，我們說過該業務今年將成長一倍以上。

And so that's clearly has the largest SAM for us, and we're demonstrating we can take advantage of that large SAM and it's growing at the fastest rate.

因此，這顯然對我們來說是最大的 SAM，我們正在證明我們可以利用這個大型 SAM，而且它以最快的速度成長。

For security, security is in the mid-60% range as a percent of our total revenue.

就安全性而言，安全性占我們總收入的百分比在 60% 左右。

Think of 2/3 of that driven by what we call professional that's enterprise CapEx driven as well as public infrastructure spending.

想想其中 2/3 是由我們所謂的專業人士所驅動的，即企業資本支出所驅動的以及公共基礎設施支出。

And then the other 1/3 of the mid-60% is coming from the smart home durable goods products like the Amazon devices that Fermi referenced earlier.

然後 60% 中的另外 1/3 來自智慧家庭耐久財產品，例如費米之前提到的亞馬遜設備。

Our next question comes from the line of David O'Connor from Exane.

我們的下一個問題來自 Exane 的 David O'Connor。

Sticking to one question.

堅持一個問題。

Maybe just one on the 240 customers you talked about, Fermi, on CV, 60 of them, I think, in production in the first half.

也許只是您在 CV 上談到的 240 名客戶中的費米 (Fermi) 之一，我認為其中 60 名客戶在上半年已投入生產。

What's the expectation for the second half?

對下半年有何期待？

How many of those remaining customers do you expect also to be in production in the second half?

您預計剩下的客戶有多少會在下半年投入生產？

Well, first of all, I think we can continue to add to this 240 number because we are going to continue to go into new markets and even in the existing market, we will continue to talk to new customers.

嗯，首先，我認為我們可以繼續增加這個 240 個數字，因為我們將繼續進入新市場，甚至在現有市場中，我們將繼續與新客戶交談。

So that 240 number definitely will continue to grow.

所以240這個數字肯定會繼續成長。

And I believe this -- I don't have a concrete number to say, but I think it's going to be -- for example, last time, we disclosed the number we're at 45, now at 60.

我相信這一點——我沒有具體的數字可說，但我認為將會是——例如，上次我們披露的數字是 45，現在是 60。

So in fact, that's a pace we're looking at from a historic point of view, I will say that the pace will continue.

事實上，這是我們從歷史角度看待的步伐，我想說，這種步伐將會持續下去。

Our next question comes from the line of Martin Yang from Oppenheimer.

我們的下一個問題來自奧本海默的馬丁楊（Martin Yang）。

My one question is on Bosch.

我的一個問題是關於博世的。

That design win with 3 platforms seems quite meaningful.

3 個平台的設計勝利似乎非常有意義。

Can you perhaps give us more context around the design win?

您能否為我們提供更多有關設計勝利的背景資訊？

Did you run into any competitors?

有沒有遇到競爭對手？

Or how long did it take you to bring that design?

或者你花了多久時間才提出這個設計？

Right.

正確的。

So first of all, for Bosch, when we started this business 12 years ago, Bosch, was the number -- the first one -- first customer to use our solution.

首先，對於博世來說，當我們 12 年前開始這項業務時，博世是第一個使用我們解決方案的客戶。

And since then, we built a very strong relationship with Bosch.

從那時起，我們與博世建立了非常牢固的關係。

And throughout the years, they continue to use our product in most of their product line.

多年來，他們繼續在其大部分產品線中使用我們的產品。

They also use other products like Qualcomm for some other product lines.

他們也使用高通等其他產品來生產其他一些產品線。

But with the CV, I think right now, I think the (inaudible) family series are the only products that have introduced for the CV product line, and they are all ours.

但對於 CV，我認為現在，我認為（聽不清楚）家庭系列是 CV 產品線推出的唯一產品，而且它們都是我們的。

So I think that our relationship with Bosch has been a long time.

所以我認為我們與博世的關係由來已久。

And I would say it's very strong because we collaborate in many different ways.

我想說它非常強大，因為我們以許多不同的方式合作。

And also, I'm happy to see that they are going to do this 3 families business, CV product line, and I hope, and I believe there will be more to come from Bosch.

而且，我很高興看到他們將開展這 3 個家族業務、商用車產品線，我希望並且相信博世還會推出更多產品。

Our next question comes from the line of Tristan Gerra from Baird.

我們的下一個問題來自貝爾德 (Baird) 的特里斯坦·格拉 (Tristan Gerra)。

Question on your software.

關於你的軟體的問題。

We're seeing sensor companies that are basically doing association with software and notably for L3, L4 applications.

我們看到感測器公司基本上與軟體相關聯，特別是 L3、L4 應用程式。

And I think you've mentioned in the past that the software that you used was really for dual purposes.

我想您過去曾提到您使用的軟體確實具有雙重用途。

So the question is whether -- what is your strategy in terms of software?

所以問題是──你們在軟體方面的策略是什麼？

Is that an opportunity later on in terms of recurring revenue monetization?

就經常性收入貨幣化而言，這是以後的機會嗎？

Or are you going to be solely focused on (inaudible)?

還是您將只專注於（聽不清楚）？

Right.

正確的。

So first of all, right now, we focus on -- I think you're talking about automotive Level 2, Level 3 type of solution.

首先，現在我們關注的是——我認為您正在談論汽車 2 級、3 級類型的解決方案。

Today, our solution is hardware only and -- but also, we have shown many times that our software running our EVA car for demo purpose.

今天，我們的解決方案只是硬件，而且，我們已經多次展示了我們的軟體運行我們的 EVA 汽車用於演示目的。

We definitely believe that the software that we developed has value.

我們堅信我們開發的軟體具有價值。

And I think at our coming Analyst Day in January at CES, we will probably disclose more the direction and the strategy direction that we're thinking about.

我認為在一月份即將到來的 CES 分析師日上，我們可能會透露更多我們正在考慮的方向和策略方向。

Our next question comes from the line of Derek Soderberg from Colliers Securities.

我們的下一個問題來自高力證券 (Colliers Securities) 的德里克·索德伯格 (Derek Soderberg)。

Congrats on the quarter.

恭喜本季。

I wanted to bring it back to in-cabin monitoring quick, specifically around that infrastructure bill.

我想快速將其帶回機艙內監控，特別是圍繞基礎設施法案。

Are you guys hearing from customers or seeing that bill sort of impact OEM design plans at all?

你們是否收到客戶的來信或看到法案對 OEM 設計計劃產生了某種影響？

And generally, if this moves forward quickly here, would you have the capacity to secure supply for that opportunity just given the tight supply environment?

一般來說，如果這種情況在這裡迅速進展，在供應緊張的環境下，您是否有能力確保這個機會的供應？

Are those products more constrained in your portfolio at all?

這些產品在您的產品組合中是否受到更多限制？

Any commentary there would be great.

任何評論都會很棒。

Great.

偉大的。

First of all, we get involved a lot in cabin design win activities.

首先，我們大量參與了客艙設計獲勝活動。

And I think this is definitely a direction that become very -- it's a very hot topic at this point.

我認為這絕對是一個非常熱門的方向。

And we're involving discussion not only in Europe and U.S., but also in China, Korea, Japan.

我們不僅在歐洲和美國進行討論，還在中國、韓國、日本進行討論。

Our strength is really for in-cabin monitoring, you need a great video quality because the lighting condition is not ideal.

我們的優勢在於艙內監控，您需要出色的視訊質量，因為照明條件並不理想。

And also, you need to do CV performance.

而且，你還需要進行履歷表表現。

So you need a very power efficient solution.

因此，您需要一個非常節能的解決方案。

And also, more importantly, I think that in-cabin cannot be just one function product moving forward.

而且，更重要的是，我認為艙內不能只是向前發展的功能產品。

In-cabin need to be integrated by with driver monitoring as well as ADAS as one unit box that integrate all the interior and exterior function so that you can have a global picture of what's happening around the car.

車內需要與駕駛員監控以及 ADAS 集成為一個單元盒，整合所有內部和外部功能，以便您可以全面了解汽車周圍發生的情況。

So I think this -- from a direction point of view, I think we have a great position offering to this market.

所以我認為，從方向的角度來看，我認為我們為這個市場提供了很好的定位。

In terms of supply, I have to say that based on my observation, Samsung supply to their customer better than TSMC can.

在供應方面，我必須說，根據我的觀察，三星向客戶提供的供應比台積電更好。

I think TSMC is lot full, a lot more capacity constrained at this point in Samsung.

我認為台積電已經滿了，三星目前的產能受到更多限制。

So we -- outside of this Texas foundry problem, although it's tight, Samsung has never short supply on us on our demand.

因此，除了德克薩斯州的代工問題之外，儘管供應緊張，但三星從未根據我們的需求供應短缺。

So I would believe that we continue to talk to Samsung about the delivery to us on the 10-nanometer and the 14- and 28-nanometer supply.

因此，我相信我們會繼續與三星討論向我們交付 10 奈米、14 奈米和 28 奈米供應的事宜。

I don't see any constraint other than the Texas foundries at this point.

目前，除了德克薩斯州的鑄造廠之外，我沒有看到任何限制。

Our final question for today comes from the line of Richard Shannon from Craig-Hallum.

我們今天的最後一個問題來自 Craig-Hallum 的 Richard Shannon。

Fermi, your last response here -- actually, 2 responses to go here about solutions that need not only in-cabin monitoring but DMS, ADAS, et cetera, and the importance of putting those together.

Fermi，您在這裡的最後一個回复 - 實際上，這裡有 2 個回复，涉及不僅需要車內監控還需要 DMS、ADAS 等的解決方案，以及將這些放在一起的重要性。

Are you seeing any other competitors that have any of those functionalities put together for all of them?

您是否看到其他競爭對手擁有所有這些功能？

Love to hear the prospects there.

很高興聽到那裡的前景。

And if not or if it's limited, can you talk about the leverage you're seeing in the market by having and be able to get that capability together?

如果沒有或有限，您能否談談您在市場上看到的通過擁有並能夠將這種能力整合在一起的槓桿作用？

Right.

正確的。

So first of all, I think a lot of our competitors claim they have the similar solution.

首先，我認為我們的許多競爭對手都聲稱他們有類似的解決方案。

But if you look at in reality, that in terms of the performance requirement, power requirement and also quality, video quality requirements, we're definitely on top.

但如果你看看現實，就性能要求、功耗要求以及品質、視訊品質要求而言，我們絕對處於領先地位。

So the -- this trend is more obvious in China because China is really -- they don't have an infrastructure yet.

因此，這種趨勢在中國更為明顯，因為中國確實還沒有基礎建設。

So they are definitely willing to pay for the more integrated solutions.

所以他們肯定願意為更整合的解決方案付費。

So that's why we believe that if there is any multifunction device happens, will happen in China first and gradually move into other spaces.

這就是為什麼我們相信，如果有任何多功能設備出現，將首先出現在中國，然後逐漸進入其他領域。

But I also see a similar trend in Asia like Japan, Korea, but China definitely was the main driver for this one.

但我在日本、韓國等亞洲也看到了類似的趨勢，但中​​國絕對是這一趨勢的主要動力。

This does conclude the question-and-answer session of today's program.

今天節目的問答環節到此結束。

I'd now like to hand the program back to Dr. Fermi Wang for any further remarks.

我現在想把程式交還給Fermi Wang 博士以供進一步評論。

Yes.

是的。

Thank you.

謝謝。

I'm very proud of what our employees have achieved in the face of so many different challenges in recent years.

我對我們的員工近年來面對如此多不同的挑戰所取得的成就感到非常自豪。

And I am convinced, years from now, if we look back at fiscal year '22, this is going to be a major inflection point for Ambarella.

我相信，幾年後，如果我們回顧 22 財年，這將成為 Ambarella 的一個重大轉折點。

And I am very excited about our future.

我對我們的未來感到非常興奮。

And with that, I say, thank you, and goodbye for now.

說到這裡，我說，謝謝你，現在再見了。

Goodbye.

再見。

Thank you, ladies and gentlemen, for your participation in today's conference.

女士們、先生們，感謝你們參加今天的會議。

This does conclude the program.

這確實結束了該程式。

You may now disconnect.

您現在可以斷開連線。

Good day.

再會。