Inphi Customer Corporate Overview
Inphi Customer Corporate Overview
Inphi Customer Corporate Overview
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<strong>Inphi</strong> <strong>Corporate</strong> Update<br />
February 4, 2013
Safe Harbor Summary<br />
This presentation includes forward-looking statements relating to matters that are<br />
not historical facts, including, without limitation, statements regarding <strong>Inphi</strong>’s short<br />
and long term growth strategies, trends in IP traffic and technology adoption, the<br />
future sizes and anticipated growth of the networking infrastructure, cloud<br />
computing and data center markets, and the scaling of memory capacity with<br />
CPU cores. In some cases, such forward-looking statements are identified by<br />
words such as “anticipate,” “believe,” “plan,” “estimate,” “expect,” “strive,” “future,”<br />
“intend” and similar expressions. Although <strong>Inphi</strong>’s management believes that the<br />
expectations reflected in the forward-looking statements are reasonable, such<br />
statements involve known and unknown risks, uncertainties and other factors that<br />
may cause <strong>Inphi</strong>’s actual results to be different from any future results expressed<br />
or implied by these statements, including the risks and uncertainties described in<br />
the prospectus relating to the offering. We caution you that no forward-looking<br />
statement is a guarantee of future performance, and you should not place undue<br />
reliance on these forward-looking statements which reflect the view of <strong>Inphi</strong>’s<br />
management only as of the date of this presentation. We assume no obligation<br />
to, and expressly disclaim any obligation to, update any forward-looking<br />
statements contained in this presentation as a result of new information or future<br />
events or developments.<br />
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<strong>Inphi</strong> Highlights<br />
• Solutions for data center and cloud infrastructure<br />
• High-speed mixed signal semiconductor<br />
― Grew 16% in 2012<br />
― 65% Gross Margins<br />
• Strong customer and partner ecosystem<br />
• Fabless business model for CMOS, III-V, SiGe<br />
• Founded November 2000, IPO November 2010<br />
• Headquarters in Santa Clara, Calif.<br />
• 191 employees worldwide: 132 engineers (70%)<br />
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Q4 ‘12 Update<br />
• Reported 16% Annual Growth<br />
― $91.2M (2012) – 16% Growth<br />
― $ 22.9M for Q4 – 32% Year over Year growth<br />
• Gross Margins – non GAAP<br />
― 65.3% for the year<br />
― 65.4% for Q4 ‘12<br />
• EPS – non GAAP<br />
― Annual 2012 - $0.15<br />
― Q4 ‘12 - $0.02<br />
• New CFP Design Wins<br />
• 14 New Products in 2012<br />
― 3 new products sampling<br />
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Growing Processor – Interconnect Gap<br />
100x in 10 Years<br />
15x in 10 Years<br />
MOORE’S LAW<br />
Processor Bandwidth<br />
Interconnect Bandwidth<br />
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Address Interconnect Bandwidth Gap<br />
Optics to Network Network to CPU CPU to Memory<br />
Amplifier<br />
CDR<br />
Buffer<br />
Optical<br />
Fiber<br />
RDIMM<br />
LRDIMM<br />
Memory<br />
Driver<br />
SerDes<br />
Register<br />
Performance Uncompromised<br />
From Fiber to Memory<br />
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Signal With Integrity<br />
Competitive Solution<br />
<strong>Inphi</strong> Solution<br />
Better Signal<br />
Detection<br />
Faster<br />
Throughput<br />
Improved<br />
Error Margin<br />
High Signal<br />
Integrity<br />
Longer<br />
Distance<br />
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Differentiated Products/Growing Markets<br />
Optics Networks Memory<br />
Long Haul Metro Enterprise & Data Center<br />
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CPU to Memory Products<br />
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EXABYTES<br />
VMs per Host<br />
Memory Interconnect Trends<br />
In-Memory Analytics for Big Data<br />
Growing x86 Server Virtualization Density<br />
80<br />
70<br />
60<br />
50<br />
40<br />
30<br />
20<br />
10<br />
0<br />
2011 2012 2013 2014<br />
Unstructured Data Structured Data Source: EMC and IDC<br />
12<br />
10<br />
8<br />
6<br />
4<br />
2<br />
0<br />
Forecast<br />
65% 72%<br />
77%<br />
49%<br />
58%<br />
2011 2012 2013 2014 2015<br />
Source: Gartner and IDC<br />
VM Density per<br />
Host Server<br />
% of Installed<br />
Workloads Running<br />
in a VM<br />
Escalating Memory-Intensive Workloads<br />
Data Center Processor Growth<br />
HPC<br />
Financial<br />
Trading<br />
Graphics Rendering<br />
2x Volume<br />
Growth<br />
Network<br />
Ent.Storage<br />
Workstation<br />
HPC<br />
Public Cloud<br />
Enterprise<br />
Small Scale<br />
Content Delivery<br />
and Gaming<br />
Big Data<br />
2011 2016<br />
Source: Intel<br />
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1067 MT/s<br />
1067 MT/s<br />
1067 MT/s<br />
1067 MT/s<br />
1333 MT/s<br />
1333 MT/s<br />
1333 MT/s<br />
1333 MT/s<br />
DDR3 & DDR4 Register and Memory Buffers<br />
Key Products<br />
Differentiators<br />
Core 0 Core 1 Core 2 Core 3<br />
RDIMM Solutions<br />
8 MB Shared Cache<br />
Memory Controller<br />
Link<br />
Controller<br />
LRDIMM Solution<br />
<strong>Inphi</strong> Memory Buffer (iMB) for LRDIMMs<br />
• Higher system memory capacity, performance, and<br />
performance/watt<br />
• Dependable quality & reliability due to best in class<br />
signal integrity even at high signaling rates<br />
• Qualified across all major ecosystems<br />
• Industry’s 1st standards compliant<br />
<strong>Inphi</strong> Memory Registers for RDIMMs<br />
• Lowest power consumption<br />
• Dependable quality& reliability due to best in class<br />
signal integrity even at high signaling rates and<br />
custom features<br />
• Qualified across all major ecosystems<br />
1<br />
2<br />
DDR3 Channel<br />
3 3<br />
1<br />
2<br />
DDR3 Channel<br />
3 3<br />
Memory<br />
Register<br />
Memory Buffer<br />
• Increases Memory Capacity by ~3x<br />
• Increases Channel Speed by 1.3x<br />
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Orders per minute<br />
Orders per minute 3.75x with 32GB LRDIMMs in a<br />
Virtualized E-commerce Application!<br />
Orders per minute/watts<br />
450,000<br />
400,000<br />
350,000<br />
300,000<br />
250,000<br />
200,000<br />
150,000<br />
100,000<br />
50,000<br />
0<br />
Database performance<br />
10 11 12<br />
Number of VMs<br />
768GB RAM<br />
(iMB enabled<br />
Samsung<br />
LRDIMM<br />
configuration)<br />
384GB RAM<br />
(RDIMM<br />
configuration)<br />
600<br />
500<br />
400<br />
300<br />
200<br />
100<br />
Productivity<br />
Power Efficiency<br />
Real estate<br />
Performance per watt<br />
768GB RAM<br />
(iMB enabled<br />
Samsung<br />
LRDIMM<br />
configuration)<br />
384GB RAM<br />
(RDIMM<br />
configuration)<br />
Source: Principled technologies<br />
0<br />
10 11 12<br />
Number of VMs<br />
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Optics to Network Products<br />
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Optics Interconnect Trends<br />
Reconfigurable Colorless Networks<br />
Long Haul: Higher Bandwidth 400G<br />
100G coherent will dominate network build out<br />
Metro: Low Power 100G Coherent<br />
Complex modulation formats such as 16QAM<br />
require Quad Linear Drivers<br />
Data Centers: Low Power 100G Ethernet<br />
80W<br />
32W<br />
12W<br />
6W<br />
12W<br />
8W<br />
5W<br />
CFP<br />
Higher density, lower cost, lower power<br />
for core routers<br />
CFP2 CFP4<br />
CFP CFP2 CFP4<br />
Higher density, lower cost, lower power for<br />
switches<br />
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Next-gen 100G/400G Reconfigurable Colorless Network<br />
Key Products<br />
Differentiators<br />
Industry Leading TIAs and Drivers<br />
DAC<br />
<strong>Inphi</strong><br />
100G/400G<br />
Quad Linear<br />
Drivers<br />
3214<br />
MZ Modulator<br />
Fiber<br />
Out<br />
• Advanced process technologies beyond<br />
CMOS<br />
• Optimum packaging technologies from low<br />
cost plastic, organic packages to high end<br />
ceramic and “gold box” packages<br />
DSP<br />
ADC<br />
3250<br />
<strong>Inphi</strong> Dual Linear<br />
Transimpedance<br />
Amplifiers<br />
3250<br />
90<br />
Degree<br />
Hybrid<br />
Mixer<br />
90<br />
Degree<br />
Hybrid<br />
Mixer<br />
BS<br />
PBS<br />
LO<br />
Laser<br />
Fiber<br />
In<br />
• System-level expertise from fiber-to-memory<br />
• Highly integrated dual and quad solutions<br />
ahead of competition<br />
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Network to CPU Products<br />
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Network Interconnect Trends: Paradigm Shift to MSDC<br />
Massively Scalable Data Centers<br />
Data Center Market Transition<br />
Core and Aggregation<br />
Roadmap: Low Power, High Density 100GE<br />
Workloads in the Cloud<br />
16-W<br />
8-W<br />
6-W<br />
3.5-W<br />
Source: Cisco Systems<br />
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Next-gen 100G Solution – CFP2/CFP4, QSFP28<br />
Key Products<br />
1 Terabit System<br />
100G SERDES<br />
10X<br />
Bandwidth<br />
GEN 2 MODULE<br />
Differentiators<br />
• Full support for multiple data rates -<br />
10G/40G/100G<br />
• Improved optical margins<br />
System<br />
ASICs<br />
1Tbps<br />
Capacity<br />
NX100G<br />
100G SERDES<br />
100G SERDES<br />
100G SERDES<br />
100G SERDES<br />
100G SERDES<br />
100G SERDES<br />
100G SERDES<br />
NX100G<br />
GEN 2 MODULE<br />
GEN 2 MODULE<br />
GEN 2 MODULE<br />
GEN 2 MODULE<br />
GEN 2 MODULE<br />
GEN 2 MODULE<br />
GEN 2 MODULE<br />
• High frequency trading and low latency data<br />
center fabric<br />
• Improved signal correction flexibility across<br />
data rates<br />
100G SERDES<br />
100G SERDES<br />
GEN 2 MODULE<br />
GEN 2 MODULE<br />
• Highest resolution, non-destructive on-chip<br />
signal integrity<br />
100G CMOS Gearbox<br />
100G CMOS CDR<br />
Next-Gen Modules with 10-32x Density<br />
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We Serve Growing Markets<br />
$1B+ TAM by 2015<br />
10M Servers + 1M 40G/100G Ports<br />
Long Haul Metro Enterprise & Data Center<br />
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<strong>Inphi</strong> Leadership<br />
Position<br />
Background<br />
Ford Tamer<br />
President and CEO<br />
John S. Edmunds<br />
VP and CFO<br />
Dr. Loi Nguyen<br />
Founder, VP of Communications<br />
Charlie Roach<br />
VP of Worldwide Sales<br />
Siddharth Sheth<br />
VP of High-Speed Connectivity<br />
Ron Torten<br />
VP of Operations and IT<br />
Lawrence Tse<br />
Chief Technology Officer<br />
Paul Washkewicz<br />
VP of Computing and Storage<br />
Norman Yeung<br />
Senior VP of Engineering<br />
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Strong Business Momentum<br />
Quarterly Revenue<br />
Annual Revenue<br />
Key Metrics<br />
($MM)<br />
3Q11 4Q11 1Q12 2Q12 3Q12 4Q12<br />
100.0<br />
90.0<br />
80.0<br />
$83<br />
$79<br />
$92<br />
Cash<br />
& short term<br />
investments<br />
($M)<br />
$117 $119 $120 $124 $123 $122<br />
70.0<br />
60.0<br />
50.0<br />
$43<br />
$59<br />
Debt None None None None None None<br />
40.0<br />
$36<br />
30.0<br />
20.0<br />
$21<br />
# of Qtrs. of<br />
Profitability<br />
15 Consecutive Quarters of Non GAAP<br />
Net Income Before Taxes<br />
10.0<br />
0.0<br />
$7<br />
2005 2006 2007 2008 2009 2010 2011 2012<br />
* Excludes stock-based compensation<br />
<strong>Inphi</strong> Proprietary and and Confidential Confidential 21
Thank you
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