萊迪思半導體 (LSCC) 2023 Q2 法說會逐字稿

Greetings. Welcome to the Lattice Semiconductor Second Quarter 2023 Earnings Call. (Operator Instructions) Please note, this conference is being recorded.

問候。歡迎參加萊迪思半導體 2023 年第二季度財報電話會議。 （操作員說明）請注意，本次會議正在錄製中。

I will now turn the conference over to your host, Rick Muscha, Senior Director of Investor Relations. You may begin.

現在我將會議交給東道主投資者關係高級總監 Rick Muscha。你可以開始了。

Thank you, operator, and good afternoon, everyone. With me today are Jim Anderson, Lattice's President and CEO; and Sherri Luther, Lattice's CFO. We will provide a financial and business review of the second quarter of 2023 and the business outlook for the third quarter of 2023. If you have not obtained a copy of our earnings press release, it can be found on our company website in the Investor Relations section at latticesemi.com.

謝謝接線員，大家下午好。今天與我在一起的有萊迪思總裁兼首席執行官吉姆·安德森 (Jim Anderson)；和雪莉·路德 (Sherri Luther)，萊迪思的首席財務官。我們將提供 2023 年第二季度的財務和業務回顧以及 2023 年第三季度的業務展望。如果您還沒有獲得我們的收益新聞稿副本，可以在我們公司網站的投資者關係中找到latticesemi.com 部分。

I would like to remind everyone that during our conference call today, we may make projections or other forward-looking statements regarding future events or the future financial performance of the company. We wish to caution you that such statements are predictions based on information that is currently available, and that actual results may differ materially. We refer you to the documents that the company files with the SEC, including our 10-Ks, 10-Qs and 8-Ks. These documents contain and identify important risk factors that could cause the actual results to differ materially from those contained in our projections or forward-looking statements.

我想提醒大家，在今天的電話會議中，我們可能會對未來事件或公司未來的財務業績做出預測或其他前瞻性陳述。我們希望提醒您，此類陳述是基於當前可用信息的預測，實際結果可能存在重大差異。我們請您參閱公司向 SEC 提交的文件，包括我們的 10-K、10-Q 和 8-K。這些文件包含並確定了可能導致實際結果與我們的預測或前瞻性陳述中包含的結果存在重大差異的重要風險因素。

This call includes and constitutes the company's official guidance for the third quarter of 2023. If at any time after this call, we communicate any material changes to this guidance, we intend that such updates will be done using a public forum, such as a press release or publicly announced conference call.

本次電話會議包括並構成公司 2023 年第三季度的官方指南。如果在本次電話會議之後的任何時間，我們傳達了對此指南的任何重大變更，我們打算通過公共論壇（例如媒體）進行此類更新發布或公開宣布的電話會議。

We will refer primarily to non-GAAP financial measures during this call. By disclosing certain non-GAAP information, management intends to provide investors with additional information to permit further analysis of the company's performance and underlying trends. For historical periods, we provided reconciliations of these non-GAAP financial measures to GAAP financial measures that can be found on the Investor Relations section of our website at latticesemi.com.

在本次電話會議中，我們將主要參考非公認會計準則財務指標。通過披露某些非公認會計準則信息，管理層打算向投資者提供更多信息，以便進一步分析公司的業績和基本趨勢。在歷史時期，我們提供了這些非公認會計原則財務指標與公認會計原則財務指標的調節表，這些調節表可以在我們網站latticesemi.com的投資者關係部分找到。

Let me now turn the call over to Jim Anderson, our CEO.

現在讓我將電話轉給我們的首席執行官吉姆·安德森 (Jim Anderson)。

Thank you, Rick, and thank you, everyone, for joining us on our call today. We've delivered strong results in the first half of 2023, with first half revenue growing 20% year-over-year and non-GAAP net income increasing 29% during the same period. We're pleased with our first half results, but we're even more excited about the path moving forward as we continue to drive the largest product portfolio expansion in the company's history.

謝謝里克，也謝謝大家參加我們今天的電話會議。我們在 2023 年上半年取得了強勁的業績，上半年收入同比增長 20%，同期非 GAAP 淨利潤增長 29%。我們對上半年的業績感到滿意，但隨著我們繼續推動公司歷史上最大規模的產品組合擴張，我們對前進的道路更加興奮。

Let me touch on a few Q2 highlights. We achieved record revenue growth in Q2 with growth of 18% year-over-year. Q2 was also our 13th consecutive quarter of sequential growth. We expanded non-GAAP gross margin by 140 basis points year-over-year to a record 70.5% and non-GAAP net income increased 23% year-over-year.

讓我談談第二季度的一些亮點。第二季度我們實現了創紀錄的收入增長，同比增長 18%。第二季度也是我們連續第 13 個季度實現環比增長。我們的非 GAAP 毛利率同比增長 140 個基點，達到創紀錄的 70.5%，非 GAAP 淨利潤同比增長 23%。

Let me now provide an overview of our business by end market. In the communications and computing market, revenue was down 3% sequentially and down 11% on a year-over-year basis. The sequential decline was primarily due to softer end market demand in communications infrastructure applications, which was partially offset by sequential growth in computing, where we saw a strong demand in data center applications such as servers used for artificial intelligence.

現在讓我按終端市場概述我們的業務。在通信和計算市場，收入環比下降 3%，同比下降 11%。環比下降主要是由於通信基礎設施應用的終端市場需求疲軟，而計算領域的環比增長部分抵消了這一需求，我們看到數據中心應用（例如用於人工智能的服務器）的強勁需求。

Turning now to the industrial and automotive market. Revenue increased 7% sequentially and was up 55% year-over-year. Our strong growth was across multiple applications, such as industrial automation and robotics as well as automotive ADAS and infotainment systems. We continue to deliver robust growth in this segment, and we believe our product portfolio is well positioned to drive sustained long-term growth.

現在轉向工業和汽車市場。收入環比增長 7%，同比增長 55%。我們的強勁增長涉及多種應用，例如工業自動化和機器人以及汽車 ADAS 和信息娛樂系統。我們繼續在這一領域實現強勁增長，我們相信我們的產品組合能夠很好地推動持續的長期增長。

I'll now provide some product road map highlights. At our Analyst and Investor Day in May, we detailed the broad and rapid expansion of our product portfolio. We're driving the largest product portfolio expansion in the company's history, which continues to create new revenue streams for Lattice. We've launched 6 device families to date based on our Nexus platform, with 5 of those device families in production and ramping with customers. On our new Lattice Avant mid-range FPGA platform, we launched the first device family at the end of last year and continue to expect to generate revenue from this family before the end of this year, with the revenue ramp continuing into next year and the following years.

我現在將提供一些產品路線圖亮點。在五月份的分析師和投資者日上，我們詳細介紹了我們產品組合的廣泛而快速的擴張。我們正在推動公司歷史上最大規模的產品組合擴張，這將繼續為萊迪思創造新的收入來源。迄今為止，我們已經基於 Nexus 平台推出了 6 個設備系列，其中 5 個設備系列已投入生產並與客戶合作。在我們新的 Lattice Avant 中端 FPGA 平台上，我們於去年底推出了第一個器件系列，並預計在今年年底之前從該系列中產生收入，收入增長將持續到明年，並且接下來的幾年。

In addition, we remain on track to further expand the Avant platform offerings with the planned launch of 2 new Avant device families at our Lattice Developers Conference in Q4.

此外，我們仍將進一步擴展 Avant 平台產品，計劃在第四季度的萊迪思開發者大會上推出 2 個新的 Avant 器件系列。

Turning now to our software portfolio. Software is a key component of our strategy, and it's an important part of how we enable our customers. We've built a portfolio of application-specific software solution stacks, which accelerates customer adoption and enables faster time to market for our customers. We recently launched Lattice Drive, which is our sixth software solution stack and is targeted at a variety of automotive electronics applications. We believe customer adoption of our software drives long-term multi-generational stickiness for our solutions.

現在轉向我們的軟件產品組合。軟件是我們戰略的關鍵組成部分，也是我們為客戶提供支持的重要組成部分。我們構建了一系列特定於應用程序的軟件解決方案堆棧，可加快客戶的採用速度並加快客戶的上市時間。我們最近推出了 Lattice Drive，這是我們的第六個軟件解決方案堆棧，針對各種汽車電子應用。我們相信，客戶對我們軟件的採用會推動我們的解決方案長期保持多代粘性。

Overall, we continue to be pleased with our execution of our portfolio expansion and the customer momentum that it's generating. While we're certainly not immune to any macroeconomic challenges impacting the industry, we believe Lattice continues to be well positioned for long-term growth and expansion.

總體而言，我們對產品組合擴展的執行及其所產生的客戶動力仍然感到滿意。雖然我們當然無法免受影響該行業的任何宏觀經濟挑戰的影響，但我們相信萊迪思將繼續為長期增長和擴張做好準備。

I'll now turn the call over to our CFO, Sherri Luther.

我現在將把電話轉給我們的首席財務官 Sherri Luther。

Thank you, Jim. We are pleased with our financial results in Q2 as we continue to deliver double-digit revenue growth, record gross margin and strong profitability. We generated strong free cash flow, returned capital to shareholders through our 11th consecutive quarter of share buybacks and subsequent to Q2, have fully paid off our debt.

謝謝你，吉姆。我們對第二季度的財務業績感到滿意，因為我們繼續實現兩位數的收入增長、創紀錄的毛利率和強勁的盈利能力。我們產生了強勁的自由現金流，通過連續 11 個季度的股票回購向股東返還了資本，並在第二季度之後完全還清了我們的債務。

Let me now provide a summary of our results. Second quarter revenue was a record $190.1 million, up 3% sequentially from the first quarter and up 18% year-over-year. Q2 was the 13th consecutive quarter of sequential revenue growth. Both sequential and year-over-year revenue growth in industrial and automotive offset the revenue decline in communications and computing. Our non-GAAP gross margin increased 20 basis points in Q2 compared to the prior quarter to a record 70.5% and was up 140 basis points on a year-over-year basis. Both the sequential and year-over-year increases in gross margin continued to be driven by the consistent execution on our gross margin expansion strategy.

現在讓我總結一下我們的結果。第二季度收入達到創紀錄的 1.901 億美元，比第一季度環比增長 3%，同比增長 18%。第二季度是收入連續第 13 個季度增長。工業和汽車領域的環比和同比收入增長抵消了通信和計算領域收入的下降。第二季度，我們的非 GAAP 毛利率較上一季度增長 20 個基點，達到創紀錄的 70.5%，同比增長 140 個基點。毛利率的環比和同比增長繼續受到我們毛利率擴張戰略的持續執行的推動。

Non-GAAP operating expenses were $58 million compared to $54 million in the prior quarter and $49.9 million in the year ago quarter. Both R&D and SG&A expenses increased sequentially as we continue to make investments in our product road map as well as in demand creation. Our non-GAAP operating margin was 40% in Q2 and was up 190 basis points compared to the year ago quarter. We continue to balance operating margin with investments that will drive Lattice's long-term revenue growth.

非 GAAP 運營費用為 5800 萬美元，上一季度為 5400 萬美元，去年同期為 4990 萬美元。隨著我們繼續對產品路線圖和需求創造進行投資，研發和銷售、管理費用均連續增加。我們第二季度的非 GAAP 營業利潤率為 40%，與去年同期相比上升了 190 個基點。我們繼續平衡營業利潤率和將推動萊迪思長期收入增長的投資。

Q2 earnings per diluted share was $0.52 compared to $0.42 in the year ago quarter. This represents 24% year-over-year growth and is faster than our revenue growth. Driving strong cash flow generation continues to be a key focus area for the company. In Q2, we generated a free cash flow margin of 35% and returned capital to our shareholders by repurchasing $10 million in stock or 122,000 shares in the 11th consecutive quarter of our share repurchase program.

第二季度攤薄後每股收益為 0.52 美元，而去年同期為 0.42 美元。這意味著同比增長 24%，快於我們的收入增長。推動強勁的現金流產生仍然是公司的重點關注領域。第二季度，我們的自由現金流利潤率為 35%，並通過在股票回購計劃中連續第 11 個季度回購 1000 萬美元的股票或 122,000 股股票，向股東返還資本。

During Q2, we also paid down $60 million in debt. Subsequent to Q2, we paid off the remaining $45 million of outstanding debt, and the company is now debt-free. We ended the quarter with $104 million in cash.

第二季度，我們還清償了 6000 萬美元的債務。第二季度之後，我們還清了剩餘的 4500 萬美元未償債務，公司現在已經沒有債務了。本季度結束時，我們擁有 1.04 億美元現金。

Let me now review our outlook for the third quarter. Revenue for the third quarter of 2023 is expected to be between $187 million and $197 million. Gross margin is expected to be 70.5%, plus or minus 1% on a non-GAAP basis. Total operating expenses for the third quarter are expected to be between $58 million and $60 million on a non-GAAP basis.

現在讓我回顧一下我們對第三季度的展望。 2023 年第三季度的收入預計在 1.87 億美元至 1.97 億美元之間。毛利率預計為 70.5%，按非公認會計準則計算正負 1%。按非公認會計準則計算，第三季度的總運營費用預計在 5800 萬美元至 6000 萬美元之間。

In closing, I am pleased with our financial results and continued execution despite the continuing macroeconomic challenges impacting the industry. We remain focused on driving further revenue growth and profit expansion. Operator, we can now open the call for questions.

最後，儘管宏觀經濟挑戰持續影響著行業，但我對我們的財務業績和持續執行感到滿意。我們仍然專注於推動進一步的收入增長和利潤擴張。接線員，我們現在可以開始提問。

(Operator Instructions)

（操作員說明）

Our first question comes from the line of Srini Pajjuri with Raymond James.

我們的第一個問題來自斯里尼·帕朱里 (Srini Pajjuri) 和雷蒙德·詹姆斯 (Raymond James) 的對話。

Jim, first one for you. Obviously, a very strong quarter with 18% growth, and you're guiding for double-digit growth again next quarter on a year-on-year basis. Some of your peers have talked about potential slowdown in the second half. I'm just curious, as we look through the, I guess, next few quarters, can you talk about where you're seeing continued strength and where you might be seeing somewhat of a macro slowdown in terms of your end markets?

吉姆，第一個給你的。顯然，這是一個非常強勁的季度，增長率為 18%，您預計下個季度將再次實現兩位數的同比增長。您的一些同行已經談到下半年可能出現的放緩。我只是很好奇，當我們展望未來幾個季度時，您能談談您在哪些方面看到了持續的強勢，以及在哪些方面您可能會看到終端市場的宏觀放緩？

Yes. Thanks for the question, Srini. First of all, really pleased with the results in the first half of this year. If we look at first half, 20% year-over-year growth, pleased with that relative to the fact that we've had a couple of years now of really strong growth, plus relative to the overall kind of broader semiconductor industry performance. So pleased with the first half.

是的。謝謝你的提問，斯里尼。首先，我對今年上半年的成績感到非常滿意。如果我們看看上半年，同比增長 20%，相對於我們已經經歷了幾年的真正強勁增長這一事實，以及相對於更廣泛的半導體行業的整體表現，我們對此感到滿意。對上半場非常滿意。

And if you look at the midpoint of our guidance, we guided up sequentially for Q3. I think first, if you look at it from a customer or market perspective, if I look at where is -- what's the source of that growth in the first half, vast majority of that growth is coming from new design wins, new revenue streams that have really just begun production and initiated within the last, say, 12 to 24 months. So we look at that to be really positive in that those revenue streams or fresh revenue streams that are kind of early in their life cycle and ramping. And they're underpinned by multiple different growth vectors, growth in industrial, automation, robotics.

如果你看一下我們指導的中點，我們將按順序對第三季度進行指導。我認為首先，如果你從客戶或市場的角度來看，如果我看看上半年增長的來源是什麼，絕大多數增長來自新的設計勝利、新的收入來源這些實際上剛剛開始生產，並且是在過去 12 到 24 個月內啟動的。因此，我們認為這確實是積極的，因為那些收入流或新收入流處於其生命週期的早期並且正在不斷增長。它們受到多種不同增長載體的支撐，包括工業、自動化、機器人技術的增長。

The industrial segment has been a really good performer for us. Growth in automotive electronics, continued content expansion and things like data center servers, networking equipment. And so those are just a few examples. So we feel well positioned in terms of the freshness of the revenue and kind of the growth vectors that we're positioned in. But then also, you can look at it from a product perspective, and we're -- frankly, we're just going through so many new product cycles and product drivers.

工業領域對我們來說表現非常出色。汽車電子產品的增長、內容的持續擴展以及數據中心服務器、網絡設備等。這些只是幾個例子。因此，就收入的新鮮度和我們所處的增長向量而言，我們感覺處於有利位置。但同時，你也可以從產品的角度來看，坦率地說，我們“我們剛剛經歷瞭如此多的新產品週期和產品驅動因素。

If you look first at just the portfolio we have today, it's the strongest product portfolio we've had in the company's history. I think our customers would say the same. And then we're in the middle of the biggest product portfolio expansion in our history, too. So also from a product perspective, we've got multiple new product cycle drivers. Nexus as an example, Nexus, our newest platform for small FPGA, we're now have 5 different device families based on Nexus that are in production and ramping. We have 6 that we've launched that's -- that will go into production next year. More to come on the road map. Nexus will continue to ramp, we believe, for multiple years to come.

如果您首先看看我們今天擁有的產品組合，它是我們公司歷史上最強大的產品組合。我想我們的客戶也會這麼說。我們也正處於歷史上最大規模的產品組合擴張之中。因此，從產品的角度來看，我們有多個新產品週期驅動因素。以 Nexus 為例，Nexus 是我們最新的小型 FPGA 平台，我們現在有 5 個基於 Nexus 的不同器件系列正在生產和量產。我們已經推出了 6 款產品，將於明年投入生產。路線圖上還有更多內容。我們相信，Nexus 將在未來幾年繼續發展。

And then Avant, our new mid-range FPGA platform, that's all -- that revenue and that revenue ramp is still ahead of us. So we feel good from both the market and a product position in terms of our ability to continue to grow over the long term. Certainly not immune to any end market fluctuations, we would feel that just like everybody else, but we feel well positioned for growth over the long term given the Lattice-specific growth drivers.

然後是 Avant，我們新的中端 FPGA 平台，僅此而已 - 收入和收入增長仍然領先於我們。因此，就我們長期持續增長的能力而言，我們對市場和產品地位都感到滿意。當然，我們不會免受任何終端市場波動的影響，我們會像其他人一樣感到這一點，但考慮到萊迪思特定的增長動力，我們感覺自己處於長期增長的有利位置。

Great. And then I guess, as you look at your new products, in particular, the Avant mid-range products, Jim, you talked about some of the new products ramping, which were launched in the last 12 to 18 months. Just curious how Nexus design cycles compare with Avant. Are the Avant cycles a little longer, somewhat similar? And also if you can talk about where you're seeing the most traction in terms of the Avant product, the designs that I think you talked about potentially generating some revenue this year. So if you can talk about which end markets you expect the revenue from.

偉大的。然後我想，當你看到你的新產品時，特別是 Avant 中檔產品，Jim，你談到了一些在過去 12 到 18 個月內推出的新產品。只是好奇 Nexus 設計週期與 Avant 相比如何。 Avant 的周期是否更長一些，有些相似？另外，如果您能談談您認為 Avant 產品最受關注的地方，我認為您談到的設計今年可能會產生一些收入。因此，您是否可以談談您期望收入來自哪些終端市場。

Yes. Thanks, Srini. First of all, on the design cycles, in terms of the timing of the design from when, say, a design is one to when it reaches production, the Avant design cycles are very similar to Nexus in that standpoint, right? So we look at the timing of the revenue to be very similar. Now the ASPs of Avant are different. ASPs of Avant are significantly higher than Nexus, about 10 to 20x higher than if you look at the company's average ASP today. So significantly better ASPs, but similar cycle times in terms of time to revenue.

是的。謝謝，斯里尼。首先，在設計週期方面，就設計時間而言，從設計開始到投入生產，從這個角度來看，Avant 的設計週期與 Nexus 非常相似，對吧？因此，我們認為收入的時間非常相似。現在Avant的ASP不一樣了。 Avant 的 ASP 明顯高於 Nexus，大約比該公司目前的平均 ASP 高出 10 到 20 倍。因此，ASP 顯著提高，但就收入時間而言，週期時間相似。

And then on the second part of your question around just traction of Avant, we're really pleased with continued growth of the Avant design win pipeline. When we launched Avant in the platform at the end of last year, we also launched the first device family in that -- based on that platform Avant-E, we continue to expect the first revenue for Avant-E to begin before the end of this year. It will be a small amount of revenue this year, but it's an important milestone for us to generate first revenue before the end of this year, and then it would continue to ramp into next year and beyond.

然後，關於您關於 Avant 吸引力的問題的第二部分，我們對 Avant 設計獲勝渠道的持續增長感到非常高興。去年年底，當我們在該平台上推出 Avant 時，我們還推出了第一個基於該平台 Avant-E 的設備系列，我們仍然預計 Avant-E 的第一筆收入將在 2017 年年底之前開始。今年。今年的收入將很小，但對我們來說，在今年年底之前產生第一筆收入是一個重要的里程碑，然後它將繼續增加到明年及以後。

And then also remember at our Analyst and Investor Day, we also announced that we would launch 2 additional device families based on Avant later this year, and those will launch, we expect at our developers conference, which is scheduled for Q4 of this year. So yes, we feel really good about progress with Avant and certainly stay tuned. We'll share more about our next product launches, Avant-G and X, as we get closer to those -- that launch date in Q4.

然後還記得在我們的分析師和投資者日上，我們還宣布我們將在今年晚些時候推出基於 Avant 的另外 2 個設備系列，我們預計這些設備系列將在定於今年第四季度舉行的開發者大會上推出。所以，是的，我們對 Avant 的進展感到非常滿意，並且一定會繼續關注。當我們臨近第四季度的發布日期時，我們將分享更多關於我們的下一個產品發布的信息，即 Avant-G 和 X。

Our next question comes from the line of David Williams with Benchmark Company.

我們的下一個問題來自 Benchmark Company 的 David Williams。

Congrats on the execution and stability here. I guess my first question, Sherri, just kind of thinking about the debt payoff and congratulations on being debt-free. But I'm curious if this changes your approach to the capital structure going forward. And maybe how we should think about your appetite for leverage down the road.

祝賀這裡的執行力和穩定性。我想我的第一個問題，雪莉，只是想償還債務並祝賀你擺脫了債務。但我很好奇這是否會改變你對未來資本結構的看法。也許我們應該如何考慮您未來對槓桿的興趣。

Yes. Thank you, David, for the question. We are really pleased that sitting here in Q3 that we have zero debt outstanding on our balance sheet. As I noted in my prepared remarks, subsequent to the end of Q2, we did pay off the remaining debt that we had on the balance sheet. And it's really, really due to the strength of our free cash flow for the quarter. We had 35% free cash flow. I'm really pleased with the strength there that we were able to pay off our debt balance.

是的。謝謝大衛提出問題。我們非常高興第三季度我們的資產負債表上的未償債務為零。正如我在準備好的發言中指出的那樣，在第二季度末之後，我們確實還清了資產負債表上的剩餘債務。這確實是由於我們本季度自由現金流的強勁。我們有 35% 的自由現金流。我對我們能夠償還債務餘額的實力感到非常高興。

From a capital allocation perspective, #1 priority for us is investing in our long-term product road map as well as demand creation. And so that continues to be a priority for us. You can see that with the rapid expansion of our product portfolio and the investments that we've been making in those areas, you can see that in our P&L.

從資本配置的角度來看，我們的第一要務是投資於我們的長期產品路線圖以及創造需求。因此，這仍然是我們的首要任務。您可以看到，隨著我們產品組合的快速擴展以及我們在這些領域的投資，您可以在我們的損益表中看到這一點。

The other areas that we focus on from a capital allocation perspective is really returning capital to our shareholders. And you see that in Q2, we executed on our 11th consecutive quarter of share buybacks, where we repurchased $10 million in stock. And so we're really pleased with that. We do have another $110 million still outstanding on the Board authorization, and that expires at the end of this year, but we'll continue to focus on cash and the free cash flow and evaluating the best use of cash on a quarterly basis.

從資本配置的角度來看，我們關注的其他領域實際上是向股東返還資本。你可以看到，在第二季度，我們連續第 11 個季度執行了股票回購，回購了 1000 萬美元的股票。所以我們對此非常滿意。我們確實還有另外 1.1 億美元尚未獲得董事會授權，該授權將於今年年底到期，但我們將繼續關注現金和自由現金流，並每季度評估現金的最佳使用方式。

Great. Maybe, Jim, just -- and you talked a little bit about the automotive industrial in the last question. But just kind of curious, if you could give maybe a little more color around the industrial segment specifically. Maybe what you're seeing there, it seems like there's some undercurrents here where some are thinking on industrial automation is slower in robotics. But it sounds like yours is pretty strong. And maybe just in puts and takes or what you're seeing around the industrial segment specifically.

偉大的。也許，吉姆，你在上一個問題中談到了一些汽車工業。但只是有點好奇，如果你能具體地圍繞工業領域提供更多的色彩。也許你在那裡看到的是，這裡似乎存在一些暗流，有些人對工業自動化的思考在機器人技術方面進展緩慢。不過看來你的實力還蠻強的。也許只是投入和投入，或者你在工業領域看到的具體情況。

Yes. Thanks, David. Yes, we continue to see good strength in the industrial and I'll include in there automotive as well, both industrial and automotive. Again, in industrial, it's primarily around industrial automation, robotics, automotive, electronics, that's really around ADAS and infotainment systems. And yes, we continue to see good healthy demand there. Again, I'll emphasize what I said earlier, which is a lot of those revenue streams that are driving growth for us, vast majority are fresh revenue streams. And if you think about the lifetime of those revenue streams, we're still really in the lifetime of those new design wins, new revenue streams that we've seen ramping. So we feel good about continued growth in that segment, certainly over the long term. We continue to view industrial and automotive as one of our key growth areas over the long term, as we highlighted in Investor and Analyst Day back in May.

是的。謝謝，大衛。是的，我們繼續看到工業領域的良好實力，我還將汽車領域包括在內，包括工業和汽車領域。同樣，在工業領域，它主要圍繞工業自動化、機器人、汽車、電子，實際上是圍繞 ADAS 和信息娛樂系統。是的，我們繼續看到那裡的良好健康需求。我再次強調我之前所說的，許多收入流正在推動我們的增長，其中絕大多數是新的收入流。如果你考慮一下這些收入流的生命週期，我們仍然處於那些新設計勝利的生命週期中，我們已經看到新的收入流正在不斷增加。因此，我們對這一領域的持續增長感到滿意，尤其是從長遠來看。正如我們在五月份的投資者和分析師日所強調的那樣，我們繼續將工業和汽車視為我們長期的關鍵增長領域之一。

And our next question comes from the line of Matt Ramsay with TD Cowen & Company.

我們的下一個問題來自 TD Cowen & Company 的 Matt Ramsay。

Jim, I wanted to ask a little bit about -- I mean, obviously, the industrial and comms business is super strong over the last few quarters. We've been hearing a little bit about lead times potentially coming in. So if you could maybe level set us on -- particularly in your industrial business, the comms as well, just how you're seeing sort of end customer demand, the channel and lead times in that business and how you're thinking about trends over the next couple of quarters in that segment, given the massive results you've seen in the last couple of quarters.

吉姆，我想問一些關於 - 我的意思是，顯然，工業和通信業務在過去幾個季度非常強勁。我們已經聽說了一些關於可能會出現的交貨時間的情況。因此，如果您可以讓我們了解一下——特別是在您的工業業務、通信領域，以及您如何看待最終客戶的需求，鑑於您在過去幾個季度看到的巨大成果，該業務的渠道和交付週期以及您如何考慮該細分市場未來幾個季度的趨勢。

Yes. Thanks, Matt. In terms of lead times, in general, I think you're asking about Lattice lead times, just to clarify. And so if I talk about Lattice lead times, we're certainly seeing our lead times return to what we would view as normal -- closer to normal lead times, sort of lead times more consistent with pre-pandemic supply chain ahead before that supply chain crunch that we saw. And so we just continue to see lead times normalize, which we view as very positive. That's positive for our customers, our distributors as well. And so yes, I think about lead times continuing to normalize.

是的。謝謝，馬特。就交貨時間而言，一般來說，我認為您是在詢問萊迪思的交貨時間，只是為了澄清一下。因此，如果我談論萊迪思的交貨時間，我們肯定會看到我們的交貨時間恢復到我們所認為的正常水平——更接近正常的交貨時間，交貨時間與供應之前的大流行前供應鏈更加一致我們看到的鏈條嘎吱聲。因此，我們繼續看到交貨時間正常化，我們認為這是非常積極的。這對我們的客戶和經銷商來說都是積極的。所以，是的，我認為交貨時間會繼續正常化。

In the industrial segment, as I just mentioned, we continue to see good demand. If I look at our Q3 guidance, we -- if you look at the midpoint of Q3 guidance, we guided up sequentially, and we would expect the Industrial and Automotive segment to be up sequentially or flat to sequential growth from Q2 to Q3, consistent with our overall guide.

在工業領域，正如我剛才提到的，我們繼續看到良好的需求。如果我看看我們的第三季度指導，我們 - 如果你看看第三季度指導的中點，我們會連續指導，我們預計工業和汽車領域從第二季度到第三季度將連續增長或持平到連續增長，一致與我們的總體指南。

And then I think you mentioned comms as well communications, now in Q2, we did see some softness in communications infrastructure, specifically in wireline and wireless. We saw some end market softness related to, I think, slower capital spending around 5G build-out, et cetera. So we saw a little bit of sequential revenue decline from Q1 to Q2 in that communications and computing segment, but that was partially offset by -- we saw a pickup in demand for servers, our chips going into servers that go into data centers. So those are kind of some of the puts and takes that we saw in the Q2 time frame.

然後我認為您提到了通信以及通信，現在在第二季度，我們確實看到了通信基礎設施的一些疲軟，特別是有線和無線方面。我認為，我們看到一些終端市場疲軟與 5G 建設的資本支出放緩等有關。因此，我們看到通信和計算領域的收入從第一季度到第二季度略有下降，但這被部分抵消了——我們看到服務器需求的回升，我們的芯片進入了數據中心的服務器。這些是我們在第二季度時間範圍內看到的一些看跌期權和看跌期權。

So hopefully, that's a little bit of additional color on just kind of what we're seeing by end market.

因此，希望這能為我們在終端市場看到的情況增添一點額外的色彩。

Thanks, Jim. I appreciate it. As my follow-up, I wanted to ask about we're getting really, really close to when Avant starts to contribute to revenue a bit. And you guys were kind enough to give us a little bit of insight into software attach rates for Nexus and what that might mean for ASPs at your investor meeting. And as you get towards rolling out Avant's revenue and you look over the pipeline over the next, I don't know, 18, 24 months, what are you seeing for Avant software attach rates at this point relative to what you might expect and what you might have expected when you launched the product almost a year ago? And just how is that software attach trending in the pipeline? Any info you have there would be really helpful.

謝謝，吉姆。我很感激。作為我的後續行動，我想問一下，我們已經非常非常接近 Avant 開始為收入做出貢獻的時候了。你們非常友善地在投資者會議上向我們介紹了 Nexus 的軟件附加費率以及這對 ASP 可能意味著什麼。當你開始推出 Avant 的收入並查看接下來的管道時，我不知道，18 個月、24 個月，相對於你可能的預期和預期，你目前看到的 Avant 軟件附加費率是多少？當您大約一年前推出該產品時，您可能已經預料到了？該軟件附加在管道中的趨勢如何？您在那裡擁有的任何信息都會非常有幫助。

Yes. Thanks, Matt. I would say the software attach on Avant is very similar to what we're seeing on Nexus and even some of our pre-Nexus products. As we had shared prior, we're seeing the software attach, that's now over 50%, meaning over 50% of the time are when a customer selects a piece of silicon, they're using one of our software solution stacks on top or in conjunction with that silicon.

是的。謝謝，馬特。我想說 Avant 上的軟件附加與我們在 Nexus 上看到的非常相似，甚至與我們在 Nexus 之前的一些產品上看到的非常相似。正如我們之前分享的，我們看到軟件附加，現在超過 50%，這意味著超過 50% 的時間是當客戶選擇一塊芯片時，他們正在使用我們的軟件解決方案堆棧之一或與硅結合。

And now with the new Lattice Drive solution stack that we just launched, we now have 6 different solutions stack software customers. And those solutions stacks, just as a reminder, are around making it really easy for customers to adopt Lattice silicon and solutions get to market quickly, speeds up our time to revenue and then also creates multigenerational stickiness. And we've also tried to make sure that customers that adopt to that software -- those software solutions or software on, say, a Nexus device, that they can leverage that same software infrastructure on to Avant devices as well.

現在，憑藉我們剛剛推出的新 Lattice Drive 解決方案堆棧，我們現在擁有 6 個不同的解決方案堆棧軟件客戶。提醒一下，這些解決方案堆棧的目的是使客戶能夠真正輕鬆地採用萊迪思芯片，並且解決方案可以快速推向市場，加快我們的創收速度，然後還可以創建多代粘性。我們還努力確保採用該軟件（例如 Nexus 設備上的軟件解決方案或軟件）的客戶也可以在 Avant 設備上利用相同的軟件基礎設施。

And so we're seeing adoption rates on Avant that would be similar to what we see on Nexus. In general, over time, we would expect that adoption rate continue to increase over time, especially as we introduce new solution stacks like Lattice Drive, which we just introduced for the automotive electronics segment.

因此，我們看到 Avant 的採用率與 Nexus 的採用率相似。總的來說，隨著時間的推移，我們預計採用率會隨著時間的推移而繼續增加，特別是當我們推出新的解決方案堆棧（例如我們剛剛針對汽車電子領域推出的 Lattice Drive）時。

(Operator Instructions)

（操作員說明）

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

我們的下一個問題來自 Tristan Gerra 和 Baird 的對話。

We've had a couple of companies last week mentioning how some spending in data center was redirected towards AI, and that was at the expense of the more traditional spending. Do you view yourself as a beneficiary of that trend? What will be the reason why the increase of GPU-based data center board will actually benefit you as opposed to being on the other side of the scale?

上週我們有幾家公司提到瞭如何將數據中心的一些支出轉向人工智能，而這是以犧牲更傳統的支出為代價的。您認為自己是這一趨勢的受益者嗎？為什麼基於 GPU 的數據中心主板的增加實際上會給您帶來好處，而不是處於天平的另一邊？

Yes. Thanks, Tristan. So first of all, in Q2, we did see an uptick in products that are used in servers for data centers, either in general purpose servers or servers that are more optimized for artificial intelligence workloads. So that was a nice positive sign that we saw in Q2. But I think in general, when we look at let's say, let's call it, general purpose servers versus servers that are more optimized for AI workloads, usually, we have about the same level of content, if not, in some cases, on the AI optimized servers, we have higher levels of content. So we view it as a net positive for us.

是的。謝謝，特里斯坦。首先，在第二季度，我們確實看到用於數據中心服務器的產品有所增加，無論是通用服務器還是針對人工智能工作負載進行更優化的服務器。所以這是我們在第二季度看到的一個很好的積極跡象。但我認為總的來說，當我們考慮通用服務器與針對人工智能工作負載進行更優化的服務器時，通常我們擁有大約相同水平的內容，如果不是的話，在某些情況下，在AI優化的服務器，我們擁有更高水平的內容。所以我們認為這對我們來說是一個淨積極的結果。

And certainly, over the long term, we believe that just the tremendous amount of compute cycles that AI will drive into the data center, we view that as a net benefit for the industry and Lattice as well. And then just as a reminder, and we've talked about this in the past, in -- in fact, we talked about this at the last Investor Day in May, is that on the new generation of servers that's beginning to ramp, we have a significant step up in the dollars of content per server in that new generation. So as that new generation ramps through the second half of this year and into next year, that's certainly a tailwind for us as we enjoy a higher level of dollars of content for each server.

當然，從長遠來看，我們相信人工智能將推動數據中心的大量計算週期，我們認為這對行業和萊迪思來說都是淨收益。然後提醒一下，我們過去已經討論過這個問題，事實上，我們在五月份的最後一個投資者日討論過這個問題，在開始增長的新一代服務器上，我們在新一代中，每台服務器的內容費用有了顯著的提高。因此，隨著新一代在今年下半年和明年的增長，這對我們來說無疑是一個順風，因為我們享受每台服務器更高水平的內容美元。

Great. And then for my follow-up, we're starting to see companies later this year, launching MCUs with native neural network, [AI, DH] type of capabilities. Where should we be looking at in terms of your product pipeline that would be playing on that trend and specifically AI at the edge?

偉大的。接下來，我們將在今年晚些時候開始看到一些公司推出具有原生神經網絡、[AI、DH] 類型功能的 MCU。我們應該在哪些方面關注您的產品線，以適應這一趨勢，特別是邊緣人工智能？

Yes. We feel -- we continue to feel really well positioned with our product portfolio in terms of being able to support edge computing applications, specifically AI at the edge, which is most often inference at the edge of the network. FPGAs are a naturally good match for those type of workloads because if you look at AI workloads in general, inference workloads in particular, generally, those are parallel algorithms, and they can be mapped really efficiently in some cases, on to, for instance, Lattice FPGAs. You can basically program your Lattice FPGA as a customized AI processor for your particular algorithm.

是的。我們認為，我們仍然認為我們的產品組合在支持邊緣計算應用程序方面處於非常有利的位置，特別是邊緣人工智能，這通常是在網絡邊緣的推理。 FPGA 自然而然地適合這些類型的工作負載，因為如果你看一下一般的人工智能工作負載，特別是推理工作負載，一般來說，這些都是並行算法，並且在某些情況下它們可以非常有效地映射到，例如，萊格 FPGA。您基本上可以將萊迪思 FPGA 編程為針對您的特定算法的定制 AI 處理器。

And so there's a number of different applications where Lattice FPGA can provide really great inference performance, especially on a performance per watt basis. And those algorithms are evolving, right? A lot of our customers are evolving those algorithms on a pretty constant basis. And so the ability to simply reprogram your FPGA for your updated new inference algorithm is a big benefit. It provides some level of future proofing as your algorithm changes over time.

因此，萊迪思 FPGA 可以在許多不同的應用中提供非常出色的推理性能，尤其是在每瓦性能的基礎上。這些算法正在不斷發展，對嗎？我們的許多客戶都在不斷地改進這些算法。因此，能夠為更新的新推理算法簡單地重新編程 FPGA 是一個很大的好處。當您的算法隨著時間的推移而變化時，它提供了一定程度的未來證明。

And then we've also tried to make sure that our customers have good software support from us as well. And so their software solution stacks like SenseAI that we've built that are specifically around supporting our customers for designing our products into edge computing, edge, artificial intelligence applications. And SenseAI is actually the first software stack that we launched, and we continue to see good adoption of that software stack.

然後我們還努力確保我們的客戶也能得到我們良好的軟件支持。因此，他們的軟件解決方案堆棧（例如我們構建的 SenseAI）專門支持我們的客戶將我們的產品設計到邊緣計算、邊緣、人工智能應用程序中。 SenseAI 實際上是我們推出的第一個軟件堆棧，並且我們繼續看到該軟件堆棧的良好採用。

So yes, we feel really well positioned to benefit from continued growth in artificial intelligence processing at the edge.

所以，是的，我們感覺自己確實處於有利地位，可以從邊緣人工智能處理的持續增長中受益。

Our next question comes from the line of Christopher Rolland with Susquehanna.

我們的下一個問題來自克里斯托弗·羅蘭與薩斯奎哈納的對話。

Congrats on the results. My first question was going to be around 5G. And Jim, I think you kind of mentioned it, some weakness in the quarter. Nokia, Ericsson were out. Things, look like they're slowing quickly, all our checks kind of say the same thing around 5G infra. I know you guys are exposed there. I guess first of all, can you update us as to what percent of comms and compute is kind of telco related, 5G related? What might fall into this bucket. And then if these headwinds last for a while, would we see continued weakness in this area? Would you have negative year-over-year growth here for a while because of this. Perhaps you can just tell us what the impact might be.

祝賀結果。我的第一個問題是關於 5G 的。吉姆，我想你提到過這個季度的一些弱點。諾基亞、愛立信出局。看起來速度正在迅速放緩，我們所有的檢查都表明 5G 基礎設施的情況相同。我知道你們暴露在那裡。我想首先，您能否向我們介紹一下與電信相關、5G 相關的通信和計算的百分比？什麼可能會落入這個桶中。那麼，如果這些不利因素持續一段時間，我們會看到該領域持續疲軟嗎？因此，您是否會在一段時間內出現同比負增長？也許您可以告訴我們可能會產生什麼影響。

Yes. Thanks for the question, Chris. So yes, as I mentioned in the prepared remarks, if we look at sequentially from Q1 to Q2, we definitely did see softness in the communications -- part of our communications and computing segment. For us, communications is both wireline and wireless. So we did see softness in both 5G wireless infrastructure as well as related wireline infrastructure. And I think that's definitely related to end market softness that other companies are seeing in terms of telco capital spending into infrastructure build out.

是的。謝謝你的提問，克里斯。所以，是的，正如我在準備好的發言中提到的那樣，如果我們按順序查看第一季度到第二季度，我們確實看到了通信領域的疲軟——這是我們通信和計算領域的一部分。對於我們來說，通信包括有線和無線。因此，我們確實看到了 5G 無線基礎設施以及相關有線基礎設施的疲軟。我認為這肯定與其他公司在基礎設施建設中的電信資本支出方面看到的終端市場疲軟有關。

In terms of the second part of your question, what percentage of comms and compute does that account for? We don't break out comps into a separate subsegment, but comms as the smaller portion of that segment computing has grown to be the majority of that segment over time, especially given some of our growth in content and servers. And so comms is a smaller portion of that. And in terms of the outlook, we only guide current quarter. But if we look at Q3, the current quarter that we're in, sequentially from Q2 to Q3, we would expect comms and computing overall to be kind of flat to sequentially up.

就您問題的第二部分而言，這佔通信和計算的百分比是多少？我們不會將計算分成單獨的子部分，但隨著時間的推移，通信作為該部分計算的較小部分已增長為該部分的大部分，特別是考慮到我們在內容和服務器方面的一些增長。因此，通訊只是其中的一小部分。就前景而言，我們僅指導當前季度。但如果我們看一下第三季度，即當前所處的季度，從第二季度到第三季度，我們預計通信和計算整體將持平或連續上升。

I see. Okay. So I guess that means consumer would probably be down for next quarter as well. But I actually have a bigger question around AI. So in your presentation, you mentioned the GPU card, looks like you do have some content there. You mentioned power control reporting and throttling. Would love to know a little bit more about this also, if you see some additional applications you could be addressing. But really, what is the content here? What is the attach rate? Like in server, it's more than one. What do you think the attach rate here is? And do you think this is going to be a meaningful needle-moving opportunity potentially going forward?

我懂了。好的。所以我想這意味著下個季度的消費者也可能會下降。但實際上我對人工智能有一個更大的問題。所以在你的演講中，你提到了GPU卡，看起來你確實有一些內容。您提到了功率控制報告和限制。如果您看到一些您可能需要解決的其他應用程序，我也很想了解更多相關信息。但實際上，這裡的內容是什麼？附加率是多少？就像在服務器中一樣，它不止一個。您認為這裡的附加率是多少？您認為這是否會是一個有意義的、潛在的推動機遇？

Yes. Thanks, Chris. We do see -- we do believe AI is a net benefit driver for us in the server data center space over time. As I mentioned earlier, when we look at general purpose servers and then I'll call it, servers that are more optimized for artificial intelligence workloads, we usually see about the same level of content or sometimes higher levels of content in the AI-optimized server. Now there's a lot of different configurations, both general purpose as well as servers that are optimized for AI. But in general, what we're seeing is on those servers that are AI optimized equal to or greater than levels of content.

是的。謝謝，克里斯。我們確實看到 - 我們確實相信隨著時間的推移，人工智能將成為我們在服務器數據中心領域的淨效益驅動因素。正如我之前提到的，當我們查看通用服務器時，我將其稱為針對人工智能工作負載進行了更優化的服務器，我們通常會在人工智能優化的服務器中看到相同級別的內容，有時甚至會看到更高級別的內容。服務器。現在有很多不同的配置，既有通用的，也有針對人工智能優化的服務器。但總的來說，我們看到的是那些經過人工智能優化的服務器等於或大於內容水平。

And then if we look out over the long term, yes, we certainly see additional opportunity in those AI-optimized servers in terms of increasing our attach rate, but also increasing the capabilities, functionality that we're bringing to those servers and the ability to continue to grow our dollars of content per server. And I think that actually applies to not just AI-optimized servers but even in general purpose servers, we see continued ability an opportunity to drive higher levels of dollars of content per server. And as we've shared in the past in that new generation of servers, that's ramping. We have a significant step-up in content in that newer generation of servers.

然後，如果我們放眼長遠，是的，我們當然會在這些人工智能優化的服務器中看到額外的機會，不僅可以提高我們的連接率，而且還可以提高我們為這些服務器帶來的能力、功能和能力繼續增加每台服務器的內容金額。我認為這實際上不僅適用於人工智能優化的服務器，甚至適用於通用服務器，我們看到持續的能力有機會推動每台服務器的內容價值更高水平。正如我們過去在新一代服務器中所分享的那樣，這種情況正在不斷增加。我們在新一代服務器的內容方面有了顯著的進步。

(Operator Instructions) Our next question comes from the line of Ruben Roy with Stifel, Nicolaus.

（操作員說明）我們的下一個問題來自 Ruben Roy 和 Stifel、Nicolaus 的線路。

I wanted to revisit, I think the first question that was asked on Avant around kind of the design activity, et cetera. And the way I'm thinking about it is Lattice is a much different company right now, right, versus when you launched your first Nexus device. I would say, I would think there'd be much more awareness, customer awareness, et cetera. And so can you talk about design activity 6 months into Avant-E being out there versus how you saw Nexus design activity? Can you compare how those are lining up?

我想回顧一下，我認為 Avant 上提出的第一個問題是圍繞設計活動等問題。我的想法是，與您推出第一款 Nexus 設備時相比，萊迪思現在是一家截然不同的公司，對吧。我想說，我認為會有更多的意識、客戶意識等等。那麼您能否談談 Avant-E 推出 6 個月後的設計活動以及您對 Nexus 設計活動的看法？你能比較一下它們是如何排列的嗎？

Yes, absolutely. So if we look at the same relative point in time, so if you think about Avant launching end of last year and kind of being 6, 7 months from launch, and if you compare it to the same point in time at -- from the Nexus launch, the design win opportunity for Avant is significantly larger than Nexus. And we're really pleased by that. I think our customers are really pleased by what they're seeing in terms of the Avant products that we're bringing to market. But yes, we certainly view that as a really positive sign.

是的，一點沒錯。因此，如果我們看一下相同的相對時間點，如果你考慮一下 Avant 在去年年底推出，距離推出還有 6、7 個月，如果你將它與同一時間點進行比較——從Nexus 推出後，Avant 的設計獲勝機會明顯大於 Nexus。我們對此感到非常高興。我認為我們的客戶對我們推向市場的 Avant 產品感到非常滿意。但是，是的，我們當然認為這是一個非常積極的跡象。

And we're also really excited to get the first device family Avant-E to start to generate revenue. We expect that to start to generate a little bit of revenue before the end of this year, obviously, more significant contributor next year. And then as I mentioned earlier, also really excited to bring upon GNX to market and launch that at the developers conference in Q4.

我們也非常高興第一個設備系列 Avant-E 開始產生收入。我們預計它將在今年年底之前開始產生一點收入，顯然，明年將產生更重要的貢獻。正如我之前提到的，我們也很高興將 GNX 推向市場並在第四季度的開發者大會上發布。

So yes, I would say, overall, really pleased with the progress with the customers and the continued build-out of the Avant portfolio.

所以，是的，我想說，總的來說，我對客戶的進步以及 Avant 產品組合的持續構建感到非常滿意。

Appreciate it, Jim. And a quick follow-up. Just on general pricing environment, obviously, Avant's coming out and much higher ASPs. But in terms of sort of the lead time backdrop and maybe backlog out there in distribution, can you talk about pricing environment for Nexus and pre-Nexus products as you see it maybe this quarter and going forward through the end of the year?

很感激，吉姆。并快速跟進。就總體定價環境而言，顯然，Avant 的問世和更高的平均售價。但就交貨時間背景以及可能的分銷積壓而言，您能否談談 Nexus 和 Nexus 之前產品的定價環境，正如您可能在本季度看到的那樣，並持續到今年年底？

Yes, certainly. I would call the pricing environment for us very stable. We believe our pricing is very durable. We have been doing pricing optimization for -- we're now in our, I guess, our fifth year of doing that. As part of our gross margin expansion strategy, at the beginning of 2009, we kicked off that strategy. Part of that was pricing optimization. And so over the last 4, 5 years, we've built really good internal processes and muscle around pricing our products correctly in the market, making sure that we're pricing for the value that we deliver to the market.

是的，當然了。我認為我們的定價環境非常穩定。我們相信我們的定價非常耐用。我們一直在進行定價優化——我想，我們現在已經是第五個年頭了。作為我們毛利率擴張戰略的一部分，我們在 2009 年初啟動了該戰略。其中一部分是定價優化。因此，在過去的四、五年裡，我們建立了非常好的內部流程和力量，在市場上正確定價我們的產品，確保我們的定價符合我們向市場提供的價值。

And yes, we believe our pricing is very durable. And then the one thing that's going on over time is as we build out the portfolio as we widen the product portfolio, as we add newer devices that are higher capability, higher capacity, certainly, those new products with higher capability, higher capacity, those come with higher ASPs.

是的，我們相信我們的定價非常耐用。隨著時間的推移，隨著我們擴大產品組合，隨著我們添加具有更高功能、更高容量的新設備，當然，那些具有更高功能、更高容量的新產品，具有更高的 ASP。

And so we've seen our ASPs increase steadily over time, and we believe that will continue as we continue to bring higher capacity, higher capability devices to market. So we do expect that ASP to continue to trend up over time.

因此，我們看到我們的平均售價隨著時間的推移而穩步增長，並且我們相信，隨著我們繼續將更高容量、更高性能的設備推向市場，這種趨勢將會持續下去。因此，我們確實預計平均售價將隨著時間的推移繼續呈上升趨勢。

And we have reached the end of the question-and-answer session. And I'll turn the call back over to CEO, Jim Anderson, for closing remarks.

我們的問答環節已經結束了。我會將電話轉回給首席執行官吉姆·安德森 (Jim Anderson)，讓其致閉幕詞。

All right. Thank you, operator, and thanks, everybody, for being on the call with us today. Certainly pleased with the continued execution and strong results in the first half while we continue to execute on certainly our biggest product portfolio expansion in the company's history, and we're excited about the opportunities ahead for Lattice. Operator, that concludes today's call.

好的。謝謝接線員，也謝謝大家今天接受我們的電話。當然，我們對上半年的持續執行和強勁業績感到滿意，同時我們繼續執行公司歷史上最大規模的產品組合擴張，我們對萊迪思未來的機會感到興奮。接線員，今天的通話到此結束。

And this concludes today's conference, and you may disconnect your lines at this time. Thank you for your participation.

今天的會議到此結束，大家可以掛斷電話了。感謝您的參與。