萊迪思半導體 (LSCC) 2022 Q1 法說會逐字稿

Good day and thank you for standing by. Welcome to the Lattice Semiconductor Corporation's First Quarter of 2022 Conference Call. (Operator Instructions)

美好的一天，感謝您的支持。歡迎參加萊迪思半導體公司 2022 年第一季度電話會議。 （操作員說明）

And now it is my pleasure to hand the conference over to your first speaker today, Rick Muscha, Senior Director of Investor Relations. Thank you. Please go ahead.

現在，我很高興將會議交給您今天的第一位發言人，投資者關係高級總監 Rick Muscha。謝謝你。請繼續。

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 first quarter of 2022 and the business outlook for the second quarter of 2022.

謝謝接線員，大家下午好。今天和我在一起的是萊迪思的總裁兼首席執行官吉姆·安德森。和萊迪思的首席財務官雪莉·路德 (Sherri Luther)。我們將提供 2022 年第一季度的財務和業務回顧以及 2022 年第二季度的業務展望。

If you have not obtained a copy of our earnings press release, it can be found at our company website in the Investor Relations section at latticesemi.com.

如果您尚未獲得我們的收益新聞稿副本，可以在我們公司網站 latticesemi.com 的投資者關係部分找到。

I'd 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 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，在我們今天的電話會議中，我們可能會就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。我們建議您參考公司向 SEC 提交的文件，包括我們的 10-Ks、10-Qs 和 8-Ks。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 second quarter of 2022. If at any time after this call, we communicate any material changes to this, 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對 2022 年第二季度的官方指導。如果在本次電話會議之後的任何時間，我們傳達了對此的任何重大更改，我們打算使用公共論壇（例如新聞稿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原則信息，管理層打算為投資者提供更多信息，以便進一步分析公司的業績和潛在趨勢。對於歷史時期，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對賬，可在我們網站 latticesemi.com 的投資者關係部分找到。

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

現在讓我把電話轉給我們的首席執行官吉姆·安德森。

Thank you, Rick. And thank you everyone for joining us on our call today. We had a strong start to the year with our Q1 revenue growing at 30% year-over-year and our Q1 non-GAAP net income growing at 72% year-over-year. Our strong revenue and profit growth is driven by our strategic focus and expansion in secular growth markets, our rapidly expanding product portfolio and our relentless focus on execution. We see growing momentum across our customer base where we're increasing our share of wallet with our strategic customers and experiencing an acceleration of customer conversions to Lattice products.

謝謝你，瑞克。感謝大家今天加入我們的電話會議。我們今年開局強勁，第一季度收入同比增長 30%，第一季度非 GAAP 淨收入同比增長 72%。我們強勁的收入和利潤增長是由我們在長期增長市場的戰略重點和擴張、我們快速擴大的產品組合以及我們對執行的不懈關注所推動的。我們看到整個客戶群的增長勢頭不斷增長，我們正在增加我們與戰略客戶的錢包份額，並體驗到客戶向萊迪思產品轉化的加速。

Let me now touch on a few highlights from Q1 of '22. Coming off a strong Q4, we grew revenue 6% sequentially in Q1 with double-digit year-over-year growth in each of our 3 market segments. We expanded non-GAAP gross margin by 600 basis points year-over-year to a record 67.7% in Q1, which marked the beginning of our fourth year of executing on the gross margin expansion strategy that we established at the beginning of 2019. We achieved record non-GAAP operating profit of 36.3%, an increase of 130 basis points year-over-year. And I'm pleased to announce that CertusPro-NX began production shipments in Q1, which is our fourth Nexus device family to enter production.

現在讓我談談 22 年第一季度的一些亮點。在經歷了強勁的第四季度之後，我們在第一季度的收入環比增長了 6%，我們的 3 個細分市場均實現了兩位數的同比增長。我們在第一季度將非 GAAP 毛利率同比增長 600 個基點，達到創紀錄的 67.7%，這標誌著我們執行 2019 年初制定的毛利率擴張戰略的第四年開始。我們實現創紀錄的非公認會計原則營業利潤 36.3%，同比增長 130 個基點。我很高興地宣布，CertusPro-NX 在第一季度開始生產出貨，這是我們第四個投入生產的 Nexus 設備系列。

Let me now provide an overview of our business by end market. In the communications and computing market, revenue increased 4% sequentially and 27% on a year-over-year basis. As we've highlighted previously, our key growth drivers include data center servers, client computing and 5G infrastructure. In servers, our attach rate has grown to over 1x, and we expect this growth trend to continue as new server architectures provide Lattice with more opportunities to increase content.

現在讓我按終端市場概述我們的業務。在通信和計算市場，收入環比增長 4%，同比增長 27%。正如我們之前所強調的，我們的主要增長動力包括數據中心服務器、客戶端計算和 5G 基礎設施。在服務器方面，我們的附加率已經增長到 1 倍以上，我們預計這種增長趨勢將繼續，因為新的服務器架構為萊迪思提供了更多增加內容的機會。

In client computing, the Lenovo ThinkPad design that we announced at CES is now in production, and we expect additional customer platforms to begin ramping in the coming quarters. In 5G infrastructure, we continue to benefit from this long-term opportunity given our higher content in 5G versus 4G systems and the continued worldwide build-out of 5G infrastructure.

在客戶端計算方面，我們在 CES 上宣布的聯想 ThinkPad 設計現已投入生產，我們預計未來幾個季度將開始增加更多的客戶平台。在 5G 基礎設施方面，鑑於我們在 5G 系統中的含量高於 4G 系統，以及 5G 基礎設施在全球範圍內的持續建設，我們將繼續受益於這一長期機遇。

Turning now to the industrial and automotive market. Revenue increased 16% sequentially and was up 40% on a year-over-year basis. Q1 growth in the industrial segment reflects strong customer adoption in a broad range of applications, including industrial automation and robotics.

現在轉向工業和汽車市場。收入環比增長 16%，同比增長 40%。工業部門第一季度的增長反映了客戶在廣泛的應用中的強勁採用，包括工業自動化和機器人技術。

As we've discussed in prior calls, we are seeing an accelerated pace of our customers converting designs from a competitor's FPGA or microcontroller to a Lattice FPGA. Customers are convening their designs to Lattice to take advantage of the market-leading power efficiency, flexibility and software content that we provide. The accelerated pace of design conversions contributed to the strong revenue growth we achieved in Q1.

正如我們在之前的電話會議中所討論的，我們看到客戶將設計從競爭對手的 FPGA 或微控制器轉換為萊迪思 FPGA 的步伐加快。客戶將他們的設計召集到萊迪思，以利用我們提供的市場領先的能效、靈活性和軟件內容。設計轉換步伐的加快促成了我們在第一季度實現的強勁收入增長。

We're also pleased with our strong growth in automotive applications. Our growth in automotive is driven by the ramp of new Lattice designs in ADAS and infotainment applications.

我們也對我們在汽車應用領域的強勁增長感到高興。我們在汽車領域的增長受到 ADAS 和信息娛樂應用中新萊迪思設計的推動。

Turning now to consumer. Revenue increased 15% sequentially and 19% year-over-year. Revenue growth is primarily driven by new applications such as smart home and prosumer that leverage our differentiated FPGA portfolio.

現在轉向消費者。收入環比增長 15%，同比增長 19%。收入增長主要由利用我們差異化 FPGA 產品組合的智能家居和產消者等新應用推動。

I'll now provide some product road map highlights. Since the introduction of Lattice Nexus, we've launched 4 device families based on the platform. CertusPro-NX entered production in Q1 and provides better power efficiency, best-in-class system bandwidth and a much smaller footprint than competitive devices. We now have 4 Nexus device families in production and ramping with customers, and we have additional Nexus devices planned for launch over the coming quarters. We continue to be pleased with the broad adoption of our Nexus platform across all our market segments.

我現在將提供一些產品路線圖亮點。自推出 Lattice Nexus 以來，我們已經推出了 4 個基於該平台的設備系列。 CertusPro-NX 於第一季度投入生產，與競爭設備相比，提供了更好的電源效率、一流的系統帶寬和更小的佔用空間。我們現在有 4 個 Nexus 設備系列正在生產中並與客戶一起量產，我們還計劃在未來幾個季度推出更多 Nexus 設備。我們繼續對 Nexus 平台在我們所有細分市場的廣泛採用感到高興。

We're also excited about our upcoming Lattice Avant platform. Avant will double our addressable market, it has 5x the capacity of our Nexus platform and will allow us to address mid-range FPGA applications. Customer engagement and momentum continues to grow and Avant will create an additional new revenue stream for Lattice with ASPs that are 10 to 20x higher than our current ASPs when it begins ramping into production. Execution remains on track for launch in the second half of this year, and we expect to hold a public event for our Avant customers and partners in Q4 of this year.

我們也對即將推出的 Lattice Avant 平台感到興奮。 Avant 將使我們的潛在市場翻一番，它的容量是我們 Nexus 平台的 5 倍，並使我們能夠解決中端 FPGA 應用。客戶參與度和勢頭繼續增長，Avant 將為萊迪思創造額外的新收入來源，當它開始投入生產時，其 ASP 比我們當前的 ASP 高 10 到 20 倍。執行仍有望在今年下半年推出，我們預計將在今年第四季度為我們的 Avant 客戶和合作夥伴舉辦公開活動。

Turning now to our software strategy. As we've discussed previously, we've been increasing investments in our software portfolio. Our fifth solution stack will be focused on 5G ORAN applications and is expected to launch in Q2. Beyond the continued expansion of our software solution stacks, we're pleased that the integration of the Mirametrix acquisition that we completed in Q4 2021 is already starting to open new customer and market opportunities for Lattice.

現在轉向我們的軟件戰略。正如我們之前所討論的，我們一直在增加對我們的軟件組合的投資。我們的第五個解決方案堆棧將專注於 5G ORAN 應用，預計將於第二季度推出。除了我們的軟件解決方案堆棧的持續擴展之外，我們很高興我們在 2021 年第四季度完成的 Mirametrix 收購的整合已經開始為萊迪思開闢新的客戶和市場機會。

In summary, we're very pleased with our outstanding results in Q1. These results are directly attributed to our focus on the right growth markets, our rapidly expanding product portfolio and the consistent execution of our strategy. We're off to a strong start in Q1, and we continue to expect 2022 to be another robust year of growth for Lattice.

總之，我們對第一季度的出色業績感到非常滿意。這些結果直接歸功於我們對正確增長市場的關注、我們快速擴展的產品組合以及我們戰略的一貫執行。我們在第一季度開局強勁，我們繼續預計 2022 年將是萊迪思又一個強勁增長的一年。

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 strong Q1 financial results. We drove strong double-digit year-over-year revenue growth, significantly expanded gross margin and delivered record profitability. We generated strong free cash flow while continuing to invest in our long-term product roadmap. We also returned cash to our shareholders through share buybacks.

謝謝你，吉姆。我們對我們強勁的第一季度財務業績感到滿意。我們推動了強勁的兩位數同比收入增長，顯著擴大了毛利率並實現了創紀錄的盈利能力。我們產生了強勁的自由現金流，同時繼續投資於我們的長期產品路線圖。我們還通過股票回購向股東返還現金。

Let me now provide a summary of our results. First quarter revenue was $150.5 million, up 6% sequentially from the fourth quarter and up 30% year-over-year. Revenue grew double digits year-over-year in all 3 of our end markets with sequential growth as well. IP was down sequentially.

現在讓我總結一下我們的結果。第一季度收入為 1.505 億美元，比第四季度環比增長 6%，同比增長 30%。我們所有三個終端市場的收入都同比增長了兩位數，並且連續增長。 IP依次下降。

Our non-GAAP gross margin increased 260 basis points to a record 67.7% in Q1 compared to the prior quarter and was up 600 basis points compared to the year ago quarter. Both sequential and year-over-year increases in gross margin continued to be driven by strong execution of our gross margin expansion strategy, which we started in early 2019.

與上一季度相比，我們的非美國通用會計準則毛利率在第一季度增長了 260 個基點，達到創紀錄的 67.7%，與去年同期相比增長了 600 個基點。毛利率的連續和同比增長繼續受到我們從 2019 年初開始執行的毛利率擴張戰略的強勁執行的推動。

Non-GAAP operating expenses were $47.2 million compared to $45.8 million in the prior quarter and $38.9 million in the year-ago quarter as we continue to invest in our hardware and software portfolio. Our non-GAAP operating margin increased 340 basis points to a record 36.3% in Q1 compared to the prior quarter and was up 830 basis points compared to the year-ago quarter. We continue to balance operating margin expansion with investments that will drive Lattice's long-term revenue growth.

非 GAAP 運營費用為 4720 萬美元，上一季度為 4580 萬美元，去年同期為 3890 萬美元，因為我們繼續投資於我們的硬件和軟件產品組合。與上一季度相比，我們的非美國通用會計準則營業利潤率在第一季度增長了 340 個基點，達到創紀錄的 36.3%，與去年同期相比增長了 830 個基點。我們將繼續平衡營業利潤率擴張與將推動萊迪思長期收入增長的投資。

Q1 non-GAAP earnings per diluted share was $0.37 compared to $0.22 in the year-ago quarter, which represents 72% year-over-year growth. We continue to focus on strong cash generation and in Q1 drove a 47% year-over-year increase in operating cash flow. We ended the quarter with $123 million in cash after repurchasing approximately 245,000 shares or $15 million in stock under our existing buyback program. This was our sixth consecutive quarter of executing share buybacks.

第一季度非公認會計準則每股攤薄收益為 0.37 美元，而去年同期為 0.22 美元，同比增長 72%。我們繼續專注於強勁的現金生成，第一季度的運營現金流同比增長 47%。在根據我們現有的回購計劃回購了大約 245,000 股或 1500 萬美元的股票後，我們以 1.23 億美元的現金結束了本季度。這是我們連續第六個季度執行股票回購。

Let me now review our outlook for the second quarter. Revenue for the second quarter of 2022 is expected to be between $153 million and $163 million. Gross margin is expected to be 68% plus or minus 1% on a non-GAAP basis. Total operating expenses for the second quarter are expected to be between $48 million and $50 million on a non-GAAP basis.

現在讓我回顧一下我們對第二季度的展望。 2022 年第二季度的收入預計在 1.53 億美元至 1.63 億美元之間。按非公認會計原則計算，毛利率預計為 68% 正負 1%。按非公認會計原則計算，第二季度的總運營費用預計在 4800 萬美元至 5000 萬美元之間。

In closing, we are pleased with our strong financial results and continued execution to our financial model. We remain focused on driving sustained revenue growth and profit expansion led by our strong position in growing end markets and our expanding leadership product portfolio.

最後，我們對我們強勁的財務業績和對我們財務模型的持續執行感到滿意。我們仍然專注於推動持續的收入增長和利潤擴張，這得益於我們在不斷增長的終端市場中的強勢地位以及我們不斷擴大的領先產品組合。

Operator, we can now open the call for questions.

接線員，我們現在可以打開提問電話了。

(Operator Instructions) Your first question is from the line of Alessandra Vecchi with William Blair.

（操作員說明）您的第一個問題來自 Alessandra Vecchi 和 William Blair。

First off, congratulations on a super strong execution in a tough environment. With that, you guys are clearly seeing strong growth entering the year. Can you give us a little more color on what's driving that growth? It sounds very share-gain oriented. And then additionally, now with 4 Nexus device product families in production, can you give us any insight into what percentage of total revenue Nexus now is and how much of the growth has been from core versus Nexus?

首先，恭喜你在艱難的環境中表現出超強的執行力。有了這個，你們清楚地看到進入今年的強勁增長。您能否為我們提供更多關於推動這種增長的因素的信息？這聽起來非常以分享收益為導向。此外，現在有 4 個 Nexus 設備產品系列在生產中，您能否告訴我們 Nexus 現在佔總收入的百分比，以及核心與 Nexus 相比有多少增長？

Yes. Thanks for the question, Alex. Appreciate it. Yes, we are very pleased with the growth that we saw in Q1, 30% year-over-year growth. And that was actually after a pretty strong year last year. Last year, I think our revenue grew about 26%. So we clearly are entering the year with a very strong revenue growth in Q1.

是的。謝謝你的問題，亞歷克斯。欣賞它。是的，我們對第一季度的增長感到非常滿意，同比增長 30%。這實際上是在去年相當強勁的一年之後。去年，我認為我們的收入增長了大約 26%。因此，我們顯然正在進入第一季度收入增長非常強勁的一年。

Maybe I'll touch on kind of a couple of different factors, maybe first from a market perspective and then maybe from a product perspective of kind of what's driving that growth underneath. So first of all from a market perspective, again, we continue to see very strong growth in comms and computing. In fact, the last 3 years in a row, that segment has grown double digits in each one of the last 3 years. And again, in Q1, we saw about 27% year-over-year growth in that segment. And we're seeing growth from 5G wireless infrastructure, servers where our dollars of content per server continues to expand and also growth in client computing as well.

也許我會談到一些不同的因素，也許首先從市場的角度，然後從產品的角度來看推動這種增長的因素。因此，首先從市場的角度來看，我們再次看到通信和計算領域的強勁增長。事實上，在過去 3 年中，該細分市場在過去 3 年中的每一年都增長了兩位數。同樣，在第一季度，我們看到該細分市場同比增長約 27%。我們看到 5G 無線基礎設施、每台服務器的內容美元不斷增長的服務器以及客戶端計算的增長。

And then also very pleased with our other big strategic segment, which is industrial and automotive and the performance in that segment. We saw a 40% year-over-year growth in Q1 and again after a very strong year last year, in fact, that segment grew 34% last year. So again, really strong performance entering the year. And in industrial and automotive, we continue to see growth in applications like industrial automation, robotics, automotive electronics. And as I mentioned in the prepared remarks, one of the things that we're really pleased to see in that segment is a faster conversion that our customers are driving away from competitive devices towards Lattice FPGAs. So we see an accelerated conversion there in that segment. And that certainly helped drive results higher in Q1. And so we're really pleased with the performance of that segment as well.

然後也對我們的另一個重要戰略領域感到非常滿意，即工業和汽車領域以及該領域的表現。我們在第一季度看到了 40% 的同比增長，在去年非常強勁的一年之後，事實上，該細分市場去年增長了 34%。再說一次，進入今年的表現真的很強勁。在工業和汽車領域，我們繼續看到工業自動化、機器人技術、汽車電子等應用的增長。正如我在準備好的評論中所提到的，我們非常高興在該領域看到的一件事是我們的客戶正在推動從競爭設備轉向萊迪思 FPGA 的更快轉換。因此，我們看到該細分市場的轉化速度加快。這無疑有助於推動第一季度的業績走高。因此，我們也對該細分市場的表現感到非常滿意。

And then from a product perspective, if we look at it on the other dimension of product, clearly we have new product cycles that are helping drive growth. Nexus, now we've entered -- we've put in place our fourth product that's now in production based on the Nexus platform, the most recent one entering production in Q1. So that product platform continues to ramp with our customers. In fact, last year was just the first year -- first full year of revenue from Nexus. We expect Nexus to grow again this year. And really we see that as a multiyear growth ramp. So new product cycles with Nexus, and you can expect new additional Nexus devices to be coming in the coming future quarters.

然後從產品的角度來看，如果我們從產品的另一個維度來看，顯然我們有新的產品週期正在幫助推動增長。 Nexus，現在我們已經進入——我們已經推出了基於 Nexus 平台正在生產的第四款產品，這是第一季度進入生產的最新產品。因此，該產品平台繼續與我們的客戶一起增加。事實上，去年只是第一年——Nexus 的第一個全年收入。我們預計 Nexus 今年將再次增長。實際上，我們認為這是一個多年的增長斜坡。因此，Nexus 的新產品週期，您可以預期新的 Nexus 設備將在未來幾個季度推出。

And then, of course, moving out in time, we've got Avant ahead of us as well. We're on -- we're tracking to launch Avant in the second half of this year, and that will add a new revenue stream in the future. So multiple new product cycles. And then our pre-Nexus products continue to grow very well as well. We've seen very strong growth from pre-Nexus. So multiple growth drivers, both from a product perspective or from a market perspective as we enter 2022.

然後，當然，及時搬出，我們前面也有 Avant。我們正在——我們正在跟踪在今年下半年推出 Avant，這將在未來增加新的收入來源。如此多的新產品週期。然後我們的前 Nexus 產品也繼續增長良好。我們已經看到了 Nexus 之前的強勁增長。因此，隨著我們進入 2022 年，無論是從產品角度還是從市場角度來看，都有多種增長驅動力。

That was really helpful. And then maybe just a follow-up for Sherri. In a similar vein, on the gross margin front, if I back out the volatility in licensing and services, I show a very strong product gross margin for Q1, roughly I think up 100 basis points sequentially and the implication is up another 200 basis points in Q2. Can you give us any more color into sort of the underlying drivers of that, whether it's mix, Nexus, some of the strategic changes you guys have made internally over the last year plus? And where we should -- is this a new sort of baseline gross margin going forward?

那真的很有幫助。然後也許只是雪莉的後續行動。同樣，在毛利率方面，如果我排除許可和服務方面的波動，我會顯示出第一季度非常強勁的產品毛利率，我認為大約會連續上漲 100 個基點，這意味著又會上漲 200 個基點在第二季度。你能給我們提供更多關於這種潛在驅動因素的顏色嗎，無論是混合、Nexus，還是你們在過去一年內在內部做出的一些戰略改變？我們應該在哪裡 - 這是一種新的基線毛利率嗎？

Yes, thank you, Alex, for the question. So we're really pleased with the results of our gross margin expansion. You talked about the product gross margin. You're right, the 400 basis points sequentially and 650 basis points year-over-year. Our total gross margin all-in showed an improvement of 260 basis points sequentially and 600 basis points year-over-year. So we're really pleased with that progress.

是的，謝謝亞歷克斯的提問。因此，我們對毛利率擴張的結果感到非常滿意。您談到了產品毛利率。你是對的，環比增長 400 個基點，同比增長 650 個基點。我們的總毛利率顯示環比增長 260 個基點，同比增長 600 個基點。因此，我們對這一進展感到非常滿意。

Just as a reminder that back in 2019, we had laid out our gross margin expansion strategy that we've been executing on. As Jim mentioned in his opening comments that we're entering our fourth year now. And so when you look at that improvement in gross margin, it's been increasing by an order of magnitude of 300 basis points each year. So it's been a total improvement of over 1,000 basis points since 2018. So really pleased with that. It's coming from -- many factors are really driving that. Pricing optimization is really the main factor right now. We're also having same contributions from mix as well as higher margins on our newer products. So all of those factors are really coming into play.

就像提醒一下，早在 2019 年，我們就制定了我們一直在執行的毛利率擴張戰略。正如吉姆在他的開場評論中提到的那樣，我們現在正進入第四個年頭。因此，當您查看毛利率的改善時，它每年以 300 個基點的數量級增長。因此，自 2018 年以來，總體改善了 1,000 多個基點。對此感到非常高興。它來自 - 許多因素確實推動了這一點。定價優化確實是目前的主要因素。我們也有來自混合的相同貢獻以及我們新產品的更高利潤率。因此，所有這些因素都真正發揮了作用。

And when you look at to the midpoint of our guide, you see that we're continuing to execute on gross margin expansion into next -- into our Q2 quarter as well.

當您查看我們指南的中點時，您會看到我們將繼續執行毛利率擴張到下一個 - 進入我們的第二季度。

Operator, did you have the next question?

接線員，你有下一個問題嗎？

They are having a difficulty with the line right now. David Williams, can you hear? Okay, David, you should go ahead and ask your question then please.

他們現在的線路有困難。大衛威廉姆斯，你能聽到嗎？好的，大衛，你應該繼續問你的問題。

Congrats on the progress and the execution here. It's been nice to see the cadence and the consistency. Just wanted to see maybe if you could talk more about the durability of the demand that you're seeing or the growth maybe within the industrial and the automotive, it sounds like your customers are converting more quickly. Is there maybe any color around that conversion cycle or maybe what's driving that that we might find helpful.

祝賀這裡的進展和執行。很高興看到節奏和一致性。只是想看看您是否可以更多地談論您所看到的需求的持久性或工業和汽車領域的增長，聽起來您的客戶正在更快地轉換。是否有圍繞該轉換週期的任何顏色，或者可能是什麼驅動我們可能會發現有幫助。

Yes. Thanks, David. Yes, again, as I said, we're just really pleased with the progress in that segment, the strong growth that we saw last year and into Q1 of this year. What we're seeing is customers in the industrial and automotive segment -- and again, industrial, think of applications like industrial automation, robotics, automotive electronics -- is, first of all, those customers are seeing the portfolio that we have today and the road map moving forward. And they're just seeing that as an incredibly competitive strong product offering that we have today and a very, very strong product road map moving forward, where we're continuing to expand out our product offering right now with Nexus, in the future with Avant. And so the customers are seeing that and are really excited about driving a strategic multigenerational transition to Lattice over time.

是的。謝謝，大衛。是的，正如我所說，我們對這一領域的進展感到非常滿意，我們對去年和今年第一季度看到的強勁增長感到非常滿意。我們看到的是工業和汽車領域的客戶——同樣，工業，想想工業自動化、機器人技術、汽車電子等應用——首先，這些客戶看到的是我們今天擁有的產品組合，並且前進的路線圖。他們只是將其視為我們今天擁有的極具競爭力的強大產品以及非常非常強大的產品路線圖，我們現在將繼續通過 Nexus 擴展我們的產品供應，未來將通過前衛。因此，客戶看到了這一點，並且對隨著時間的推移推動向 Lattice 進行戰略性多代過渡感到非常興奮。

And if you look at the products today like Nexus, if you look at some of the competitive stats. The customer is very excited about the fact that from a Nexus device versus a competitor's FPGA they can get 4x the power efficiency. They can get orders of magnitude better reliability, and we're bringing a tremendous amount of software content with those devices as well. So that really helps the customers in terms of -- it helps them switch to our devices, it helps them get up and running quickly and get to market quickly. And that software also helps the device be sticky over time.

如果你看看今天的產品，比如 Nexus，如果你看看一些競爭數據。客戶對 Nexus 設備與競爭對手的 FPGA 相比能獲得 4 倍的能效這一事實感到非常興奮。他們可以獲得數量級更高的可靠性，我們也為這些設備帶來了大量的軟件內容。因此，這確實有助於客戶——幫助他們切換到我們的設備，幫助他們快速啟動和運行并快速進入市場。該軟件還有助於設備隨著時間的推移保持粘性。

So we're seeing customers really motivated to switch primarily for the technical or product benefits. But I think what's happened more recently that we've seen kind of catalyze or accelerate that is those same customers have also really appreciated how we've supported them through this supply-constrained environment. They've seen us do a good job of supporting their supply needs. And so I think that's also catalyzed them to drive that transition faster than what they might have originally been planning. And so we are seeing an acceleration there.

因此，我們看到客戶真正有動力轉向主要是為了技術或產品優勢。但我認為最近發生的事情是我們看到了某種催化或加速，這些客戶也非常感謝我們在這個供應受限的環境中如何為他們提供支持。他們看到我們在支持他們的供應需求方面做得很好。所以我認為這也促使他們以比他們最初計劃的速度更快的速度推動這一轉變。所以我們在那裡看到了加速。

I was, actually -- just an anecdotal comment, I was actually in Europe just a couple of weeks ago spending a lot of time with our European industrial and automotive customers, and just fantastic momentum with those big industrial and automotive customers. And again discussions around strategic multigenerational transition to Lattice devices. So we see this as a very durable shift of share and revenue towards Lattice over time.

實際上，我只是一個軼事評論，幾週前我實際上在歐洲，花了很多時間與我們的歐洲工業和汽車客戶打交道，與那些大型工業和汽車客戶打交道的勢頭非常好。並再次圍繞向 Lattice 設備的戰略性多代過渡進行了討論。因此，隨著時間的推移，我們認為這是份額和收入向萊迪思的非常持久的轉變。

Perfect. And then maybe from a supply chain standpoint, anything there that you're seeing either improve or deteriorate just kind of given what's going on in the world today and the issues in China and of course in Russia? Can you talk maybe to your supply chain challenges or improvement or maybe deterioration you're seeing?

完美的。然後也許從供應鏈的角度來看，鑑於當今世界正在發生的事情以及中國，當然還有俄羅斯的問題，您所看到的任何改善或惡化的情況？您能否談談您所看到的供應鏈挑戰或改進或惡化？

Yes. Certainly at an industry level, the semiconductor supply chain certainly remains tight. And I think at an industry level, the expectation is it remains tight through the end of this year and actually well into next year. Now Lattice specifically, I think we've done a really good job navigating those supply chain constraints for our customers and I actually want to take the opportunity to really thank our supply chain operations team because I think over the last 2 years, they've done a really great job supporting our customers. And so I think if you asked our customers, I think they'd say that we've done quite a good job of supporting them and our intention is to continue that.

是的。當然，在行業層面上，半導體供應鏈肯定仍然很緊張。而且我認為在行業層面上，預計到今年年底它仍然很緊張，實際上到明年。現在特別是萊迪思，我認為我們在為客戶解決供應鏈限制方面做得非常好，我真的想藉此機會真正感謝我們的供應鏈運營團隊，因為我認為在過去的兩年裡，他們已經在支持我們的客戶方面做得非常出色。所以我想如果你問我們的客戶，我想他們會說我們在支持他們方面做得很好，我們打算繼續這樣做。

We're certainly not immune to the supply chain tightness and there can be tightness on particular semiconductor or package combinations. But overall, I think we're doing a good job supporting them. Some of the more recent potential supply chain disruptions that you mentioned in terms of the Russia-Ukraine conflict, we haven't seen any disruption to our supply chain due to that. We've been working really carefully with our suppliers to make sure we understand any potential disruptions. But we haven't seen any material supply disruptions due to that conflict, but something we're certainly monitoring moving forward.

我們當然不能免受供應鏈緊張的影響，特定的半導體或封裝組合可能會出現緊張。但總的來說，我認為我們在支持他們方面做得很好。你提到的一些最近關於俄羅斯-烏克蘭衝突的潛在供應鏈中斷，我們沒有看到我們的供應鏈因此受到任何中斷。我們一直在與供應商密切合作，以確保我們了解任何潛在的中斷。但是我們還沒有看到由於那場衝突而導致的任何材料供應中斷，但我們肯定會繼續關注這一點。

And then I think you also mentioned in China, some of the COVID-related lockdowns and some of the things that we're seeing in Shanghai. Again we haven't seen any significant disruption to our supply chain. Our supply chain -- our primary supply chain is outside of China. So it is not located inside of China. There may be secondary effects if we have suppliers -- to our suppliers that have part of their supply chain in China. But in terms of our primary supply chain, we haven't seen any impact, although it's something that we are monitoring, again, very carefully in making sure we understand and work carefully with our suppliers. But no significant disruption that we've seen to date.

然後我想你在中國也提到了一些與 COVID 相關的封鎖以及我們在上海看到的一些事情。同樣，我們沒有看到我們的供應鏈有任何重大中斷。我們的供應鏈——我們的主要供應鏈在中國以外。所以它不在中國境內。如果我們有供應商——對於在中國擁有部分供應鏈的供應商，可能會產生次要影響。但就我們的主要供應鏈而言，我們沒有看到任何影響，儘管我們正在監控它，再次非常仔細地確保我們理解並與我們的供應商仔細合作。但迄今為止，我們沒有看到任何重大中斷。

(Operator Instructions) Your next question is from Lucas Cohen with Rosenblatt Securities.

（操作員說明）您的下一個問題來自 Rosenblatt Securities 的 Lucas Cohen。

This is Lucas Cohen, I'm calling in for Hans. Thanks for letting me to ask a question here. And again, congrats on the great results. Hans wanted to know what the mid-range FPGA parts look like in terms of a ramp for the second half of the year. I know you kind of touched upon it a little bit, but I wanted to get some more insight there.

我是盧卡斯·科恩，我打電話給漢斯。謝謝你讓我在這裡提問。再一次，祝賀偉大的成果。 Hans 想知道中端 FPGA 部件在下半年的增長情況下是什麼樣子的。我知道你有點觸及它，但我想在那裡獲得更多的見解。

Yes. No problem, Lucas. Thanks for the question. So Avant is the name of the platform for our mid-range FPGA offering. As I mentioned in the prepared remarks, Avant is on track to launch in the second half of this year. And what Avant brings to the market is if you compare it to the Nexus devices that we have in production today, Avant capacity or capability is about 5x, 5x the capability of Nexus. And so it will allow us to address applications in the midrange portion of the FPGA market, and that will roughly double our addressable market. And that also as those products begin to ramp into production, that will create an entirely additive new revenue stream for Lattice because that's in a market that we don't serve today.

是的。沒問題，盧卡斯。謝謝你的問題。因此，Avant 是我們中端 FPGA 產品平台的名稱。正如我在準備好的評論中提到的，Avant 有望在今年下半年推出。 Avant 給市場帶來的東西是，如果你將它與我們今天生產的 Nexus 設備進行比較，Avant 的容量或能力大約是 Nexus 的 5 倍、5 倍。因此，它將使我們能夠解決 FPGA 市場中端部分的應用，這將使我們的目標市場翻一番。而且隨著這些產品開始投入生產，這將為萊迪思創造全新的收入來源，因為這是我們今天不服務的市場。

In terms of the timing of that ramp, we've launched in the second half of this year. And generally, we would expect to start to see revenue 12 to 18 months after the initial launch. So that would put revenue, maybe some towards the end of 2023, but it would have a more material impact in 2024. So that's kind of our expectation. And that's based off the experience that we saw with our Nexus devices. That's a similar ramp timing based on launch that we saw after Nexus.

就該斜坡的時間而言，我們已在今年下半年推出。一般來說，我們預計會在首次發布後 12 到 18 個月開始看到收入。因此，這將使收入（可能會在 2023 年底增加一些），但它會在 2024 年產生更實質性的影響。這就是我們的預期。這是基於我們在 Nexus 設備上看到的體驗。這是基於我們在 Nexus 之後看到的發布的類似斜坡時間。

But Avant is definitely something we're very excited about. I can tell you the sales team is extremely excited because they're working with our customers on the Avant design wins and design-ins and then the engineering team also very excited but, yes, it's something we're really looking forward to for the second half of this year. Thanks, Lucas.

但 Avant 絕對是我們非常興奮的事情。我可以告訴你，銷售團隊非常興奮，因為他們正在與我們的客戶合作開發 Avant 設計勝利和設計插件，然後工程團隊也非常興奮，但是，是的，這是我們非常期待的今年下半年。謝謝，盧卡斯。

And maybe as an unrelated follow-up question, Hans was curious about the front-end availability and back end at Samsung.

也許作為一個無關緊要的後續問題，Hans 對三星的前端可用性和後端感到好奇。

Yes. So it's our Nexus products that are based on the Samsung Foundry. We do have multiple foundries that we utilize, TSMC, UMC and Samsung. Nexus products are based on the Samsung Foundry, 28-nanometer. And we've been able to support our customers very well. Nexus has contributed to growth that we saw last year. Nexus contributed again to growth that we saw in Q1. And I think we've done a good job of supporting our customers, and we certainly expect that to continue.

是的。因此，我們的 Nexus 產品基於三星 Foundry。我們確實有多家代工廠，台積電、聯電和三星。 Nexus 產品基於三星 Foundry，28 納米。我們已經能夠很好地支持我們的客戶。 Nexus 為我們去年看到的增長做出了貢獻。 Nexus 再次為我們在第一季度看到的增長做出了貢獻。我認為我們在支持客戶方面做得很好，我們當然希望這種情況繼續下去。

(Operator Instructions) Your next question is from Christopher Rolland with Susquehanna.

（操作員說明）您的下一個問題來自 Christopher Rolland 和 Susquehanna。

This is [Doug San Chang] on behalf of Chris. I know you guys talked about supplies earlier, but I want to ask about demand specifically. Last year, you shipped about 1/3 of your revenue to a distributor in Taiwan. So I'm curious if you're seeing any changes in the demand patterns in Asia and specifically in the Greater China region.

我是代表 Chris 的 [Doug San Chang]。我知道你們之前談到了供應，但我想具體問一下需求。去年，您將大約 1/3 的收入寄給了台灣的經銷商。因此，我很好奇您是否看到亞洲特別是大中華地區的需求模式發生任何變化。

Yes. Thank you. So we haven't seen any significant shifts in demand. We saw good growth across all regions last year. We're expecting all of our major geographical regions to grow again this year. We're not seeing any significant demand shifts from a year-over-year perspective when we look towards the demand or the backlog that we have for 2022. And there can be -- since you brought up a distributor revenue, there can be some fluctuations from quarter-to-quarter in terms of which products shipped to which distributor and things like that. But when we look at a kind of macro geo level, we haven't seen any significant shifts.

是的。謝謝你。因此，我們還沒有看到需求發生任何重大變化。去年，我們在所有地區都看到了良好的增長。我們預計今年我們所有的主要地理區域都會再次增長。當我們查看 2022 年的需求或積壓訂單時，從同比的角度來看，我們沒有看到任何顯著的需求變化。而且可能有——因為你帶來了分銷商收入，可能會有一些就哪些產品運往哪個分銷商之類的事情而言，每個季度的波動。但是，當我們從宏觀地理層面看時，我們並沒有看到任何重大變化。

And as a follow-up, I also wanted to ask about OpEx. I think you guys guided 35% as the long-term guide, but you've been underspending in the recent quarters at around low 30s. And that's obviously been a positive to the bottom line. But would you say this is the new normal or should we expect some sort of a step-up at some point in the future?

作為後續，我還想問一下 OpEx。我認為你們將 35% 作為長期指導，但最近幾個季度的支出一直低於 30 多歲。這顯然是對底線的積極影響。但是你會說這是新常態，還是我們應該期待在未來的某個時候有所提升？

Yes, sure. Thank you, Doug Chang, for the question. So OpEx target, as you indicated, was 35% that we rolled out last year. When you look at our OpEx, so in particular our R&D spend, it's something that we've talked about for quite some time now that we have a bias to investing in our long-term product portfolio. When you look at our R&D spend, you see that year-over-year, our R&D has increased 30%. And so that's really a testament to the new product launches that we've announced our platforms. We're excited about our Avant launch in the second half of this year. So really continuing to invest in that long term.

是的，當然。謝謝 Doug Chang 的提問。因此，正如您所說，OpEx 目標是我們去年推出的 35%。當您查看我們的運營支出，特別是我們的研發支出時，我們已經討論了很長時間，因為我們偏向於投資於我們的長期產品組合。當您查看我們的研發支出時，您會發現我們的研發支出同比增長了 30%。因此，這確實證明了我們已宣布我們的平台推出的新產品。我們對今年下半年推出的 Avant 感到興奮。所以真的繼續投資那個長期。

From an SG&A perspective, demand creation is also very important for us to support the future growth of the company. And so year-over-year, that has also increased 12%. So while we're below our target, we feel like we are investing the right amount in the business, and we'll continue to do that to drive the long-term growth of the company.

從 SG&A 的角度來看，創造需求對我們支持公司未來的發展也非常重要。與去年同期相比，這一數字也增加了 12%。因此，雖然我們低於我們的目標，但我們覺得我們正在對業務進行適當的投資，我們將繼續這樣做以推動公司的長期增長。

And your final question is from Matt Ramsay with Cowen.

您的最後一個問題來自 Matt Ramsay 和 Cowen。

Congratulations on the results. I apologize, guys, if these have maybe been asked. There's a bunch of companies reporting at the same time here tonight. So bear with us. Jim, I wanted to ask about the progress and the contribution of your business selling into notebook. I know there was a deal that you guys had announced publicly with Lenovo and you were pursuing other opportunities there. If you could give us any color on sort of the magnitude of the contribution of that -- of those new wins and any description on the pipeline of engagements you have there would be helpful.

祝賀結果。我很抱歉，伙計們，如果這些可能被問到了。今晚有很多公司同時在這里報道。所以請耐心等待。吉姆，我想問一下你的業務在筆記本上的銷售進展和貢獻。我知道你們已經與聯想公開宣布了一項交易，你們正在那裡尋求其他機會。如果你能給我們任何關於貢獻的大小的顏色 - 這些新的勝利和你在那裡的參與管道的任何描述都會有所幫助。

Yes, thanks, Matt. So first of all, just when we look at last year just as a basis, we saw comps in computing last year grow at -- I believe it was about 25%. And certainly the client computing segment was a good contributor to that. We had a number of platforms that we're ramping into production. And then more recently at CES, we announced a partnership with Lenovo on their ThinkPad platform that we're really pleased with. That platform has now entered production and is ramping. And that's a platform where we're delivering artificial intelligence processing capability with our FPGA.

是的，謝謝，馬特。所以首先，當我們將去年作為基礎時，我們看到去年計算中的comps增長了——我相信它大約是25%。當然，客戶端計算部門對此做出了很好的貢獻。我們有許多平台正在投入生產。最近在 CES 上，我們宣布與聯想在 ThinkPad 平台上建立合作夥伴關係，我們對此感到非常滿意。該平台現已投入生產並正在加速。這就是我們使用 FPGA 提供人工智能處理能力的平台。

And our software that sits above and that AI capability is used to provide a whole bunch of really cool user experiences, things like if you walk away from your laptop, our chip can detect that and dim the screen so that it saves power or saves battery life by dimming the screen. We can detect shoulder surfing to improve the security of the system and a number of other capabilities that we can bring to the system as well. So we're really excited about that Lenovo ThinkPad partnership. And as I said, that will be ramping throughout this year. And then there are additional other customer OEM platforms that are in the pipeline that we're working on. And -- you can expect to hear more about that in the coming quarters as those reach production. But we're really excited about the pipeline.

我們的軟件位於上面，人工智能功能用於提供一大堆非常酷的用戶體驗，比如如果你離開筆記本電腦，我們的芯片可以檢測到這一點並調暗屏幕，從而節省電力或節省電池通過調暗屏幕來生活。我們可以檢測肩部衝浪以提高系統的安全性以及我們可以為系統帶來的許多其他功能。因此，我們對與聯想 ThinkPad 的合作感到非常興奮。正如我所說，這將在今年全年增加。然後還有其他其他客戶 OEM 平台正在我們正在開發的管道中。並且 - 隨著這些產品投入生產，您可以期待在接下來的幾個季度聽到更多關於這方面的信息。但我們對管道真的很興奮。

If I just step back a little bit, we see this as a really good long-term growth opportunity for the company because this is really greenfield growth in a huge market. If you look at the PC market, it's a system TAM of over 300 million units a year. And so that's a large potential TAM -- unit TAM for us. And we're just kind of at the early stages of penetrating this market. And so we see it as a very large growth opportunity for us where we're bringing really unique capabilities that we think are going to become really standardized across PC platforms in the coming years. So something we're pretty excited about.

如果我稍微退後一點，我們認為這對公司來說是一個非常好的長期增長機會，因為這確實是一個巨大市場中的綠地增長。如果你看看 PC 市場，這是一個每年超過 3 億台的系統 TAM。所以這是一個巨大的潛在 TAM——對我們來說是單位 TAM。我們只是處於進入這個市場的早期階段。因此，我們認為這對我們來說是一個非常大的增長機會，我們將帶來真正獨特的功能，我們認為這些功能將在未來幾年內跨 PC 平台變得真正標準化。所以我們非常興奮。

As my follow-up question, I wanted to ask about the data center and the server business for you guys. There's obviously that we've seen through this earnings cycle so far a reiteration of pretty positive CapEx numbers from a lot of the hyperscale folks. And there's no secret that there are server launches coming with brand new sockets and platforms from both Intel and AMD as we move through the year. So I know the penetration level in terms of unit attach is pretty high in your business right now, but I think there's some content expansion opportunities that are still on the come there. So if you could just kind of characterize how you're thinking about that business contributing to growth, Jim, that would be really helpful.

作為我的後續問題，我想為你們詢問數據中心和服務器業務。顯然，到目前為止，我們已經從這個盈利週期中看到了許多超大規模企業都重申了相當積極的資本支出數字。眾所周知，隨著我們這一年的到來，英特爾和 AMD 都會推出帶有全新插槽和平台的服務器。因此，我知道目前在您的業務中，單位附加方面的滲透水平相當高，但我認為仍有一些內容擴展機會。因此，如果您可以描述一下您對促進增長的業務的看法，Jim，那將非常有幫助。

Yes. Thanks, Matt. Definitely, we see comms and computing of which servers is one of our key growth areas underneath comms and computing. We see that as a continued growth area for the company. Actually if you look over the last 3 years, that segment has grown double digits in each of the last 3 years and a lot of that growth has been driven by our continued expansion of -- in the server segment, where we're expanding our average dollars of -- kind of dollars of content per system. And we see that continuing to grow. We see both attach rate and ASP growth moving forward. With some of the new server architectures that are coming out, we see additional opportunities for more Lattice silicon, more Lattice sockets. We expect our attach rate, which is already above 1x, to continue to grow. And then we expect our ASPs to continue to grow as well as we're gaining more capability, more content with each new server generation.

是的。謝謝，馬特。毫無疑問，我們看到哪些服務器的通信和計算是我們在通信和計算之下的關鍵增長領域之一。我們認為這是公司的持續增長領域。實際上，如果您回顧過去 3 年，該細分市場在過去 3 年中的每一年都增長了兩位數，其中大部分增長是由我們在服務器領域的持續擴張推動的，我們正在擴大我們的平均美元 - 每個系統的內容美元。我們看到這種情況繼續增長。我們看到附加率和 ASP 增長都在向前發展。隨著一些新的服務器架構的出現，我們看到了更多萊迪思芯片、更多萊迪思插槽的更多機會。我們預計已經超過 1 倍的附加率將繼續增長。然後我們預計我們的 ASP 將繼續增長，並且隨著每一代新服務器的出現，我們將獲得更多功能、更多內容。

And as I've said before, our products are CPU agnostic. So whether it's Intel process or an AMD processor or an ARM processor, the capabilities and functions that we bring to the platform work equally well across all those architectures. And in fact, most of our customers, when we engage with them, whether they're kind of traditional enterprise server vendors or hyperscale server vendors, what they'll do is they'll use kind of the same Lattice solution for control and management and security of the server system. They'll use the same subsystem based on Lattice across different CPU architectures. So they'll use that Lattice design across both in Intel and AMD and ARM-based server design as well. And so we feel really good about the continued expansion in that segment. It's certainly been a key growth area for us over the last few years, but we see a lot of headroom for growth moving forward as well.

正如我之前所說，我們的產品與 CPU 無關。因此，無論是 Intel 工藝、AMD 處理器還是 ARM 處理器，我們為平台帶來的能力和功能在所有這些架構中都同樣適用。事實上，我們的大多數客戶，當我們與他們接觸時，無論他們是傳統的企業服務器供應商還是超大規模服務器供應商，他們都會使用相同的萊迪思解決方案進行控制和管理和服務器系統的安全性。他們將在不同的 CPU 架構中使用基於 Lattice 的相同子系統。因此，他們將在 Intel 和 AMD 以及基於 ARM 的服務器設計中使用 Lattice 設計。因此，我們對該細分市場的持續擴張感到非常滿意。在過去幾年中，這無疑是我們的一個關鍵增長領域，但我們也看到了很大的增長空間。

And that concludes the question and answer session I will now turn the call back to Lattice's CEO, Jim Anderson, for summary or final comments.

問答環節到此結束，我現在將電話轉回萊迪思的首席執行官 Jim Anderson，以徵求總結或最終意見。

Thank you, operator, and thanks, everybody, for being on the call with us today. So first of all, really happy to have kicked off the year with really strong results of the 30% year-over-year growth after what was a very strong year last year. And again, we continue to see strong growth from our 2 big strategic segments of communications and computing, and industrial and automotive when we talk through a number of those growth factors today. And then also key product cycles that are helping drive growth. Our pre-Nexus products are growing. Our Nexus products are still in early ramp stage, and we expect those to ramp over the coming years. And then the Avant product ramp is still out ahead of us. So we're really excited about the future growth of the company and look forward to providing more updates on our next earnings call. Operator, that concludes today's call.

謝謝接線員，也謝謝大家今天與我們通話。因此，首先，很高興在去年非常強勁的一年之後，以 30% 的同比增長非常強勁的結果開始了這一年。同樣，當我們今天討論其中的一些增長因素時，我們繼續看到通信和計算以及工業和汽車這兩個大戰略領域的強勁增長。然後還有有助於推動增長的關鍵產品週期。我們的 pre-Nexus 產品正在增長。我們的 Nexus 產品仍處於早期階段，我們預計這些產品將在未來幾年內推出。然後 Avant 產品斜坡仍然在我們前面。因此，我們對公司未來的發展感到非常興奮，並期待在我們的下一次財報電話會議上提供更多更新。接線員，今天的通話結束。

Thank you, sir. to all participants. Thank you for joining. This concludes today's conference call. You may now disconnect. Have a good day.

謝謝你，先生。給所有參與者。感謝您的加入。今天的電話會議到此結束。您現在可以斷開連接。祝你有美好的一天。