LSCC - Earnings call transcript Q1 2022 | Lattice Semiconductor Corporation

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Operator

Good day and thank you for standing by. Welcome to the Lattice Semiconductor Corporation’s First Quarter of 2022 Conference Call. At this time, all participants are in a listen-only mode. After the speaker’s presentation, there will be a question-and-answer session. [Operator Instructions] Now, it is my pleasure to hand the conference over to your first speaker today, Rick Muscha, Senior Director of Investor Relations. you. Thank ahead. go Please

Rick Muscha

and Lattice’s everyone. Sherri President CFO. operator, are Luther, me Jim Anderson, and good you, With afternoon, today Lattice’s Thank CEO; and

will the second of of XXXX. business XXXX We the quarter financial quarter and for first of review outlook business a provide the and

performance trends. during further announced underlying performance be to information to By using cause call. could intends publicly refer to of time forward-looking those the with will our we analysis in includes the If results that not I call. everyone Investor the Relations future copy at latticesemi.com. obtained additional conference call of release, remind earnings as If official press conference information, in quarter you can company be may regarding call, for during or website like any we financial have this would that that to this forward-looking factors it other the any found financial identify communicate of company’s or XXXX. a our to differ XX-Ks, we future changes [this non-GAAP refer from with a make our at done the documents you today, our on and company. guidance] or section or events release at We’ll projections statements measures based This information call guidance including caution second our to that statements. the updates to These the contain the the and investors such to is SEC, after documents materially. public forum you We that risk and wish company differ may that contained of material currently intend files company’s projections XX-Qs, statements permit materially results disclosing predictions and the press such constitutes X-Ks. such provide management are actual primarily available certain important and We actual [ph], non-GAAP

found periods, Investor financial historical section of our reconciliations financial of to on the we non-GAAP measures latticesemi.com. GAAP these be Relations at provided For can that measures website

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

Jim Anderson

And year start Rick. QX up our on our We us revenue joining strong the XX% income to had year-over-year. today. you, QX thank everyone a with year-over-year growing our growing Thank net you non-GAAP at XX% for and call

increasing strong wallet focus and in customer secular revenue growing by our experiencing expanding with strategic Lattice markets of on portfolio see we’re of across We Our growth strategic focus are conversions growth share is profit customers acceleration our our products. and momentum our our driven product relentless and to rapidly execution. where base, expansion customer an

in operating profit which QX, we of to at non-GAAP production XX.X%, is increase production. our basis CertusPro-NX that We year margin of executing fourth points on began year-over-year. strategy fourth on gross we QX, XXXX. Let highlights points We of growth market a QX, the grew record Coming segments. from of but me each in double-digit few off now year-over-year year-over-year revenue device shipments our established achieved pleased the margin X XXX to the to And QX family our QX, marked expansion touch which non-GAAP beginning expanded a an basis gross Nexus sequentially in XXX XX.X% of beginning X% XXXX. in I’m that announce of strong by a record of enter

end our In market market. me Computing Communications provide XX% year-over-year on overview and sequentially increased X% an business Let a basis. by the now of revenue and

as now we architectures the to more drivers trend In Servers, grown include Data growth new and content. opportunities to with growth expect over long-term is XG provide production, given highlighted Infrastructure. from Computing, of server CES Servers, we’ve begin this we Center additional in previously, continued Client our we worldwide benefit our In continue XG Client quarters. ramping Infrastructure, coming we that XG In to Computing to platforms announced has Infrastructure. expect And our increase attach out opportunity XG XG build in As continue and and key the rate Lenovo at Xx. Lattice ThinkPad this to higher the customer design in systems versus content

and the market, segment broad Turning a Industrial reflects growth now in a to customer industrial and revenue basis. and the XX% range sequentially applications, increased XX% including up strong Industrial QX year-over-year adoption on robotics. Automotive automation was of in

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

in We’re also strong pleased with applications. our growth automotive

the Our latest of applications. by ADAS growth in infotainment ramp new driven automotive is designs and in

have than CertusPro-NX quarters. production such efficiency, have year-over-year. X applications Since families Nexus growth Revenue and planned bandwidth, competitive families for device in smart on I’ll Turning by devices. device that ramping with introduction much of launch and portfolio. into over better primarily now some and highlights. and provide our revenue FPGA XX% a platform, best-in-class roadmap increased we new smaller Nexus, based And product in devices and prosumer Lattice the the X driven is XX% launched power to additional differentiated as QX, Nexus now We leverage customers. but provides the system home production footprint now Consumer, coming sequentially we’ve

to market continue our We across pleased with the our broad of adoption be Nexus platform segments. all

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

Turning strategy. now software to our

As been investment we’ve discussed portfolio. in our software increasing previously, we’ve

solution as applications in stack expected to focused will fifth [ph] Our O-RAN and launch XG be QX. on

our with pleased product outstanding rapidly on portfolio very to in QX. expanding are These Beyond markets, directly QX expansion of we’re consistent the end open the focus for acquisition customer results of summary, started our In our continued right Mirametrix to and of software were growth has stacks the solution our attributed integration in results at already opportunities our new the we market Lattice. strategy. the completed pleased that XXXX execution

for off I’ll we to We’re robust now over expect XXXX CFO, the call continue start Luther. to turn in a strong to another of Sherri QX growth be year our and Lattice. to

Sherri Luther

Thank you, Jim.

strong growth, We invest generated We profitability. significantly and margin expanded year-over-year continuing free are in product pleased strong We revenue roadmap. our financial with gross delivered cash our drove double-digit results. to long-term strong QX record while flow,

cash also returned to buybacks. through our share shareholders We

provide of now me Let a summary our results.

was was from with grew year-over-year. First $XXX.X Revenue up XX% sequential of in fourth down end and X year-over-year quarter well. growth up markets the revenue quarter IP double-digits as X% our all sequentially. sequentially million,

compared and in margin year expenses compared the of and a which basis year-over-year the execution Both XXXX. record Our to the ago in started driven operating was in year to and XX.X% million $XX.X gross invest prior be prior continued non-GAAP to sequential margin software $XX.X quarter, by quarter. expansion early gross quarter margin points our to the QX increases increased gross basis and up we and quarter, to XXX strategy, to million compared portfolio. ago points strong we $XX.X as continue hardware Non-GAAP our were in in million XXX

a XX.X% prior XXX quarter to ago in QX operating points was basis year margin Our and XXX the compared basis record quarter. the points to non-GAAP increased up compared to

long-term expansion margin non-GAAP with growth. XX% which growth. compared to QX continue share We year diluted revenue the Lattice’s balance represents in that year-over-year quarter, drive to $X.XX will per was $X.XX earnings ago investments operating

We year-over-year program. was $XXX in the in after in operating our to generation XXX,XXX of focus ended cash on consecutive existing Xth XX% buyback with quarter under continue drove executing We repurchasing buybacks. a quarter in million $XX million or strong cash our increase and shares, share This flow. stock approximately QX cash

and the $XXX operating million. expected and review the for quarter. outlook growth can our growing million X% leadership financial now and strong between million XXXX our be second the results the led be to expected markets, model. pleased basis. product our quarter margin to of on a are and Total are driving our position for by quarter open second Operator, questions. we $XX is non-GAAP call profit $XXX continued we is sustained remain me second focused We Revenue Gross now on expansion basis. $XX closing, portfolio. strong and to on revenue Let our execution financial a be and expenses for or In between non-GAAP to million expanding end minus plus expected XX% with for

Operator

Thank you, ma’am.

question now Please go line will of Blair. We from [Operator first with the is Instructions] Your Vecchi session. William begin the Alessandra question-and-answer ahead.

Alessandra Vecchi

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

Jim Anderson

were And growth Last think pretty we last XX%. Appreciate year, it. thanks was QX Yeah, revenue strong actually after Yeah, saw in very Ales. we growth. the year-over-year XX% the I question, year, pleased our for year. with by that grew that

clearly in a then of of I’ll a of different that kind strong kind from entering with market and of year growth maybe perspective, couple revenue from are a we perspective the touch product growth a QX. driving underneath. first maybe very on factors, what’s So Maybe

perspective, all, and very growth of in So, strong comms first market continue again, to we see a from computing.

pleased double-digits X year-over-year year-over-year infrastructure, saw that wireless row, last from segment, seeing segment, computing fact, of And then the very Industrial applications Automotive, and last after has we with performance strong year, XX% In XX% in last of very FPGA. and QX. Automotive, dollars And that fact, expand that server years. entry conversion X in growth things XG remarks, saw mentioned really automation, I again a segment competitive and devices last continues grown again, year. the pleased to also segment client servers, to a and away again that one is Industrial QX, our of per segment continue really prepared big are we’re years see year, the driving robotics, a one growth the our customers year In Lattice XX% electronics. And performance we industrial growth in also segment. grew each which other strong the in growth so where our towards in in And in and in automotive strategic well. that growth the And in as to we’re in we is in from as in like content faster that see

conversion in an all that accelerated in certainly segment, we there tire So helped drivers QX. and that see

production other if And product, the performance on have as product fourth we helping in now product clearly then product drive that the growth. the it our perspective, of so, QX. on look place are we’re the one based we’ve we’ve segment Nexus from at entering we pleased recent with really put in well. production of Nexus that new cycles that’s a And platform, dimension now entered, most in

continues our ramp platform with product to customers. that So

year, we again full In fact, ramp. last was from to And Nexus, Nexus see grow first that a revenue year. multiyear we of the really, first as year expect year just growth this

stream revenue half expect multiple to pre-Nexus Avant pre-Nexus. well. we’re product in moving – in and new well. of we’ve And We products coming then the our and be coming the future, out the in in on us We’ve very devices grow seen add then, new a that’ll cycles with to launch this second – So can from so year, got to of well, were new as as course, And product time, you very future Nexus cycles. new quarters. strong Nexus of continue growth tracking ahead additional Avant

growth market we drivers, XXXX. from a enter from or a perspective multiple product So perspective, as both

Alessandra Vecchi

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

Sherri Luther

Yeah. Thank you, the for question. Ales,

pleased our margin really results of with the we’re So gross expansion.

the gross talked the product XXX points points year-over-year. You you’re about sequentially XXX margin, right, and basis basis

total Our basis is points XXX showed points and gross in XXX basis all an of margin sequentially, year-over-year. improvement

pleased So that really we’re with progress.

we’re been our out on, margin we back as XXXX, Just as executing his strategy entering comments in that our that had a laid mentioned, year reminder fourth that in Jim now. gross we’ve expansion opening

that an it’s at really margin, of each basis year, now. coming manufacturers improvement total magnitude that. pricing a optimization pleased been are improvement gross of the with basis XXX factor so look right points X,XXX since you really increasing when so main is really that order been in It’s of over driving so by XXXX, it’s points And from

into same margin having see at to well. products, so as coming expansion we’re well the quarter newer guide, margins as contributions you’ll play. higher that of also into all are midpoint execute factors look of We’re our our QX gross you on on to those And our mix, continuing as when from really

Alessandra Vecchi

into Great. I’ll Thank queue. you. With jump that, back

Rick Muscha

the next Operator, did have you question?

Operator

you right hear? They’re difficulty can now. Williams, line the a with David having

David Williams

Yes.

Operator

should and ahead Okay, question, ask David, your please. go you

David Williams

Okay. the Thank progress cadence been here, nice and the to congrats execution see it’s Hey, on the you. the and consistency.

Just find sounds any helpful? quickly. talk maybe customers that cycle? more conversion see converting that Or maybe if the driving you color more that there durability your what’s you’re or demand the automotive want like the the maybe to could might about growth the industrial seeing within maybe of Is are around and we

Jim Anderson

of and said, I Yeah. we’re in pleased industrial is and Yeah, the we David. year with growth again, again, strong QX this Thanks, of into applications progress that segment, Automotive incredibly have we industrial a seeing What offering like thing moving seeing all really automation, today Industrial in are automotive robotics, electronics first strong strong have moving forward. the product they’re just the that very that segment as is those and, the we’re year. and roadmap as and customers we that of – last roadmap very, just an competitive, customers the saw portfolio in seeing that product forward, today

product in offering to continuing our with Nexus future We’re out right now the expand Avant. with

some and the that multi about strategic can transition devices orders better amount of customers get bringing you look reliability, we’re well. today competitive a like if excited content can are those about if driving magnitude, to so look the FPGA, stats, they They as the and tremendous And a really power time. efficiency. customers with products from Lattice get software that Nexus, the versus fact And competitor’s excited you are the X seeing over Nexus of a at of device generational very times at the a

in the helps device over helps really switch our get and also running them And software that time. get helps of to to and customers devices, sticky the market helps it them that quickly. So be quickly up terms

them do supporting product or think kind benefits. is happened seen supported supply that good job seen motivated the have or how They’ve their really So needs. recently catalyze constrained to customers supply what’s environment. this that we’ve more those appreciated But a of for we’re primarily through technical same us also really customers accelerate switch seeing I we’ve of

faster just customers, Europe drive so been to think, Industrial those spending transition a and comment. just that also might originally Industrial our they and what lot of and customers are with I I anecdotal than planning Automotive discussions in big weeks have I strategic transition of an Automotive them catalyze Lattice acceleration a to with couple around there. we and an just again devices. time multigenerational European momentum fantastic that’s seeing and actually was so, And actually was ago,

shift this see as a very towards time. we share and Lattice over revenue So durable of

David Williams

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

Jim Anderson

at and actually semiconductor the And, level, expectation Yeah. remains of tight. an chain the year, next I this Certainly supply industry industry is year. the well tight think, at remains level, through into an end certainly

good think, done I I great our X customers. constraints a chain And want of opportunity specifically, operations the chain a Lattice customers. over really we’ve they’ve thank actually navigating our last to years, the really to supply I supporting done take team, think job for supply Now, because those really job our

supporting if they’d them immune think, I doing continue can customers, tightness, is not to I good there so, on a supporting that and But be And intention of tightness to particular say done we’re we’ve chain a I our job asked quite good or of that think, overall, you them. supply semiconductor think, our and we’re job combinations. package the certainly

we chain to But monitoring of carefully chain. with that any supply some our we some in haven’t of significant seen we due think, conflict, terms I due disruptions. the the lockdowns mentioned any COVID-related that. you moving the any mentioned conflict, seen but disruption you potential been Again, certainly overseen disruptions of of and disruptions understand to China, to the in we’re something also in material to haven’t And, haven’t sure supply Shanghai. things any we chain forward. recent We’ve Russia-Ukraine our disruption Some working supply that make seen our more suppliers supply really potential

in supply our and our something that – is outside have making of monitoring of so sure be date. chain if terms may part any it’s of it primary are we their disruption and we have effects to primary that suppliers our suppliers, supply our chain but seen China, we China. China. in to we’ve not significant work impact But located although carefully is haven’t secondary that seen inside of suppliers, supply chain no again very with understand Our There we supply chain, carefully

David Williams

time. so Thanks thanks for and for that. Certainly it much appreciate the

Jim Anderson

Thanks, David.

Operator

is question Rosenblatt next [Operator Instructions] [ph] ahead. with [Lucas Cohen] Please Your from go Securities.

Unidentified Analyst

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

Jim Anderson

Yeah. question. No problem, Thanks Lucas. the for

midrange our is Avant of So for the name offering. FPGA the platform

Avant the As capacity revenue that’s roughly products allow production because address And mid I devices begin into a to market to ramp addressable market. or entirely in range if the Lattice, that’ll to additive in the you it’ll in capability production, today, compare and the the this times that market Nexus, that’ll as track stream of we Avant the portion of so brings also, it in that today. we double don’t second mentioned year, those is is, that us prepared of serve Avant an market for launch new Nexus create FPGA to half and the have what our applications remarks, to on about and X capability is

launch months to And, start in this launch. that the revenue would of year. of the after to to we’d we the XX ramp, initial XX see terms In of generally, that half second timing expect

it more XXXX. maybe some towards at So a of end that revenue, put impact the material would would have in XXXX. But

timing, that Avant the we’re of excited Nexus. that experience So but, launch And is is team wins that’s our and that’s also expectation. something based forward to the Thanks, because second ramp kind on after engineering with something with we’re team we very excited, we Nexus this of But then sales year. And looking you, definitely can saw our design our off saw That’s yeah, on the similar customers design the working tell about. really I devices. extremely for ends. Avant Lucas. they’re half excited very the based

Unidentified Analyst

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

Jim Anderson

Yeah.

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

Unidentified Analyst

you. Thank

Jim Anderson

Thanks, Lucas.

Operator

question next from go with Your Instructions] Christopher Rolland Please Susquehanna. [Operator ahead. is

Unidentified Analyst

I you guys [Dougsan in about talked a is year, I distributor demand you this behalf to of know about on Cheng] want Hi, specifically. Chris. Last your Taiwan. [ph] of earlier. ask shipped to about revenue But one-third supplies

So patterns changes I’m specifically Asia, the China Thank you’re Greater seeing curious, in region. demand in and you. if the in any

Jim Anderson

Yeah. Thank you.

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

Unidentified Analyst

And follow-up, ask wanted to I also as a you. OpEx. Thank about

is you. normal? sort step-up some should bottom the long-term that’s Or we spending line. expect at future? But some at guys And a you the under guide. say But the around of you’ve would recent XX% low-XXs. in you think in been guided new point Thank I to been positive the this the as obviously quarters a

Sherri Luther

you, Yeah. Sure. Thank for question. the Dougsan,

we now last year. you particular, indicated, So that OpEx our we’ve about target, out that R&D something When OpEx, spend, investing our as has long-term you talked see so When XX% quite to some you our bias at you product in year-over-year, in XX%. at was that have that time R&D for increased rolled portfolio. our spend, a our it’s look look we R&D

so in testament And the about product announced that that we’re the really launch our half of our a new launches second Avant that’s to excited we’ve platforms this year.

So really continuing and to support the for to year-over-year, invest increased in us creation growth SG&A the Lattice is that perspective, loan… future From demand of an so very important also company, XX%. also

And while continue we the right investing of So we that are company. feel the to we’re in our business. below the drive do like the long-term amount to target, we’ll growth

Unidentified Analyst

you. Thank

Operator

question Matt your from is with Cowen. go final ahead. Ramsay And Please

Matthew Ramsay

tonight. Congratulations on these much. time asked reporting Apologize, here the results. at very same bunch there’s Good you the companies of Thank guys, afternoon. have been a maybe

selling notebook. the wanted Lenovo, there. us. with and about know pursuing bear Jim, guys a were with that there into your ask and deal you to business, had announced publicly you I the So I of progress contribution other opportunities was

If would Thank of those new the us contribution color sort of the engagements on of on of have helpful. the be and give magnitude you there pipeline could any that, you. you description of wins any

Jim Anderson

Yeah. Thanks, Matt.

a And year announced segment walk screen. artificial laptop, had and ramping the if has first capability platform like that last that things sits FPGA entered grow Computing number production and dim the it then, of that of whole by or a security experiences, with number at, is year, so we I your just was to with when of of where software all, saves to computing, pleased really it user shoulder So from And we that you that life was bring as Client a last good delivering system other our a ramping saw we’re system We contributor the about that and screen our well. CES, that we the detect just a with at battery XX%. above. platform capabilities and we’re certainly that’s processing look chip a production. believe, really platforms of partnership that to used saves we that capability power were now at ThinkPad if more bunch can Lenovo is AI comms surfing platform can and to into as and recently, basis, intelligence the our provide cool away the improve a and we can detect dimming And their

I long-term other customer really about excited additional growth that in we because for we’re we’re expect And throughout quarters So be as really production. to that’ll see there partnership. are a pipeline ThinkPad that hear But And a opportunity then really coming about the bit, this And the are excited just really growth market. platforms huge Lenovo company, the those good as as can And the ramping year. that on. about said, working reach little Greenfield pipeline. this if in you I OEM more in that step is this a back we’re

year. XXX TAM units the market, a you If system over it’s look PC a at million of

that’s market. And early And just the at we’re TAM, penetrating for this TAM of us. kind of large a unit so potential stages

coming us it think as become see we to we so unique opportunity the a large very And year. going in platforms across bringing where growth really standardized are for capabilities PC we’re really that

So something pretty excited we’re about.

Matthew Ramsay

for you that, Thank No. Jim.

CapEx cycle far, seen about we’ve As I earnings pretty a you through guys. wanted of There’s for ask we obviously the as new the this move server my sockets so follow-up platforms to data it’s reiteration lot business positive folks. center AMD, from server And that of a the and coming through question, and from numbers there’s with both hyperscale, no brand Intel secret launches that there’s and year.

are there’s I level think in the your that opportunities in pretty right content know But still unit is So on high attach there. penetration business some I of terms now. column the expansion

we of characterize very helpful? just kind would thinking about So how you Jim, contributing Thank much. growth, be you’re to that that really business

Jim Anderson

moving of both areas in growth dollars last of segment see has comms rate, additional architectures new for rate out, continuing is our Matt. and see server are for silicon, comps we double-digits forward. and more a we has lot one growth Lattice key which already Xx well, coming area our company. to products look in we that and growth of new Definitely as to that attach some kind continue if thanks, in our a the CPU by of the you We server X expanding underneath ASP over continue the dollars see growth and server the our as opportunities that we our grown computing, segment, And, We that to grow. Yeah, years, as grow. we’re expect sockets, years, Lattice that Actually, servers see I’ve With which, the content attach the more of to where we are And our [ph] is capability, in] each before, content and per each above said [we’re generation. more ASPs computing. more continued as average agnostic. of of system then, to last continued been expansion driven expect X with see grow

and use across our across on them the use the the we solution do an Intel platform same enterprise fact, and based capabilities ARM system it’s is, when in whether management, different or same-sub those the work that vendors server functions well security or all control of bring architectures, or of with server hyperscale vendors. Lattice for the we they’ll processor, AMD equally and, most and processor, of an they’ll What server traditional kind kind to they’re system, processor, architectures. Lattice So engage whether they’ll CPU of customers

design design based they’ll Intel and an that So well. ARM and as server Lattice AMD use both across

we for us a It’s the see a in expansion area been headroom well. so years. certainly the of good about really for few as key that continued And feel forward growth segment. But over moving last lot growth we

Operator

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

Jim Anderson

the today. operator, call you, thanks, and us on everybody, Thank Yeah. with for being

talk again, Industrial segments And from key year a then strong number those growth. to Computing, strong So of really the product growth our are to we continue and kicked off strong factors year. through also Automotive year results very we helping first growth have happy with and when X after what of cycles XX% big all, of really and that was see growth year-over-year of a and today, a the last drive Communications strategic

are products pre-Nexus Our growing.

Nexus ramp are ramp is early in products expect still Avant the ahead we the state over still product and ramp Our coming years. those then us. And of to out

the to growth So company forward that I we’re more future about today’s updates really call. the earnings our and at next for providing concludes call. Operator, excited look

Operator

participants all concludes joining. To for sir. call. you you, conference This thank today’s Thank

good may disconnect. well. day. safe Stay now and a You Have

Lattice Semiconductor (LSCC) 4 May 222022 Q1 Earnings call transcript