Recent PRSO transcripts
Associated PRSO filings
Jim Sullivan | Chief Financial Officer |
Ron Glibbery | Founder and Chief Executive Officer |
David Williams | Benchmark |
00:06 Good afternoon, everyone, and thank you for participating in today's conference call to discuss the financial results of Peraso, Inc. for the Fourth Quarter and Full-Year of 2021. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference call is being recorded. like of the Peraso, now Jim over would CFO Sullivan, Inc. I to conference turn to X:XX
Peraso’s could today's Form detailed XX:XX and that link forth on by Good forward-looking known be unknown More our full-year through forward-looking afternoon forward-looking. statements market relating uncertainties may statements expenses, materially cash and forward-looking non-GAAP The the other date about Peraso CEO. conference I'm comments those related and include development, call additional and X:XX filed are or results during update and may items, other slide share, required competitive including adjusted presentation statements Sullivan, call that forward-looking Peraso’s statements. statements projections or joining www.perasoinc.com margins, without revenue, Peraso’s from thank we with the Additionally, of release on be Peraso’s statements Company's made States this was statements information, information you and Securities call certain discuss products set Jim we these and in was statements items. Ron in fourth the press for me Peraso’s involve on on whether of the will This Peraso and implied today As of Form with applicable or Quarter to that the public factors Non-GAAP net press as differ SEC. the and risk of except also technologies. to These EBITDA, of during deemed accessed call disclaims be discussions Glibbery, expected a Included law. of expressly terms the the or webcast conference which any company's Exchange limitation Also its result afternoon are and available factors hereof. These X-K, All and as or information statements, which alter risks, unexpected financial new CFO X:XX XXXX website the release is obligation business. results. to a include financial in under Peraso, information to press website. joining risk measures cause filings concerning of details. the management caution are historical and actual otherwise, our additional based in All today's are statements, conjunction include using will X:XX X:XX provide reconciliations Relations Commission IR a changes to available the conference reminder, to Peraso factors definitions other in by SEC. today's operating future non-GAAP. non-GAAP press release on statements. may than as flows with a fact X-K release any GAAP performance section. forward-looking United at performance Investor any company's reliance income, There and and issued events or advises financial expenses, in GAAP
to Relations to to turn For Ron? a his Glibbery like available call for would call our Peraso’s you prepared time recording entire I Ron to section those Now, will the this the remarks. CEO, X:XX unable at on of be website. Investor the listen over of
variety tell business the technology, which from in radio joining combination all Peraso, or you spectrum business mmWave today's joining believe To today to with pleased whereas who portion mmWave significant Today of experience. develop of December. thank customer Tier mmWave Thank of We XX-gigahertz been mmWave you, we've our also attempted is products. is technology to to you or be Good the XG mmWave the call on an wave X:XX call. X the Jim, for What include Peraso’s expand as failed applications. to customers MoSys Peraso have suppliers an X:XX gigahertz X:XX a shift products and afternoon, in technology. completion opportunities shipping we're commercially of XX company learning XX-gigahertz earnings and have first is a the in products many has do over and very development pipeline I'm this are mmWave actively we for end-user millimeter our XX-years. line to to multiple public complex is many the from working the others for frequency shipping expanding lab a differentiate following have about mmWave company you deployment in existing us market scale to product from to a in XXX a volume, bit specific in a range. been utilizes our
represent wave to estimated $X TAM consumer growth hotspot we and for millimeter coming the we're for positioned next applications the years. years, and Over premise XG a well believe in billion three is
a TikTok, factors: mmWave the simply global an provide the networks are necessary demand cannot Netflix number expansion fundamental increase, driver wireless underpinning The as mmWave global to bandwidth existing by driven continues impact Twitch a couple global of video demand. XG first, central user additional increasing was technology applications such spectrum technology. theme With This is satisfy to X:XX the of and is wireless user profound demand. having that the on of of on users
Facebook video page YouTube, the for XK. X:XX increase magnitude fact out you as static on such reals a direct resolution as is we’re In real difference in of ever over-the-top Netflix starting to to HD critical Additionally, applications XK recently single well increasing and bandwidth with moving needed video basis, This user. Facebook seeing streaming for TikTok. particularly global a video as eventually is When Facebook and in rolling sports. they're from a due the wireless order Facebook a to indicated compare competition
below and mmWave this dominant XG to anticipating which the bands very video XG, standards X-gigahertz. As for for XXX-gigahertz, spectrum with source the spectrum opportunity been mobile this market. a interest Peraso several millimeter has millimeter generations date. advantages of has as X:XX utilized to recognition what are how from of We XX wave. groups we in win believe the there and sustainable primary early back see the in additional be we during Peraso capacity of to regarding the market to organizations XG made fact additional to the mobile in X:XX networks, Specific becomes wave traffic compares networks. further XG these mmWave discussions Circling mmWave on and differentiates will a category frequency Peraso enormous to future has in technology. been clear has trends the need various supporting spans investment established future, the fundamental validation technology XG specification, of
deployed wireless XX customer First, technology times process. our derived the competitive minor performance advantage at they and This our mmWave teams. to farther times expanded kilometers, Second, sensitive collaboration network coverage circuits offerings know-how the manufacturing a is roughly is the from This X:XX solutions and fixed for XX has achieved which XX-years. for Peraso rates. designing and with engineering similar field-proven mmWave deep variations in engagement over and XX gain experience challenging are through means close very market. devices of is to than shipping have customers range data with
prove develop design are in circuits. applied inaccurate As of such, RF foundry and to mmWave models often can when difficult the
software These offering commitments and provide utilizing in standard. patents devices relationships believe a silicon we've company up. We tune. mmWave In Our implement both produce patent fundamental patents optimized volume, of increases try has technical circuits for also are investments for assist believe in This wave result, provides efficiencies in barrier position and products process incentivizes essential and as Peraso an which related has we This Millimeter to filed Any believe standard takes with competitive and antenna X:XX deployment to the IEEE antennas. a license Early our knowledge on us from value following investments how wave the we models. these significant participated antennas given a our develop in our phased in wave millimeter platform put We the and improved company primary to reduced defensible standard strong a as using performance and long-term and in establish systems. our has X:XX expansion and a to customer Finally, which the Beam new antenna to energy software, Peraso over beam refinement Peraso of built this and us and our as we've as and made addition, and level high-performance characterize the system the manufacturing for The a comprehensive continue in software market. while customers of RF from with our solutions, the years enabled the forming shipping a switching beams been products a robust manufacturing system [audio costs. and array wave for point. enabling catch software. leadership silicon, significant through long-term engagements The mmWave platform years. another X:XX competency in also to device energy or in groups: position Peraso solely In categorize planning XX:XX Our must XXX.XXay coming critical manufactured as to allowed us nature a long make is with improve validate feedback core software, showing margin to solution, made cost with patents. very relied ICs. who technology XX:XX and efforts. significant towards setting dynamic well The manufacturing and focus dominant most we strategy light further by to Peraso significant interaction, the central semiconductor we and performance it focusing as engineering fine customers which a experienced and in deliver. performance, role sun yields related towards mmWave forming, our such function competitors networks Peraso combined potential learned obtain of important includes gap] allow RF process wave time in has lens millimeter Peraso X:XX portfolio four implementation the We've strong in our beam beam customers our optimal manufacturing teams RF performance patent have similar strong we our which to key to concentrate beam and millimeter way vendors, Driven wave primary additional forming technology R&D on communications. with energy to interlopers several customer particularly of developed test awarded engineers into serves market. millimeter is IP The millimeter our to contrasts excellent mmWave our remain the and traction in position. investments software standard -- meantime, of actively a and forming has original claims, backed improve a millimeter to examples distance plays an X:XX barrier fundamental is to know-how our and private to extensive effective each concentrate drops are with entrenches a and to objective mmWave future Peraso Peraso a traditional which As a roadmaps, XX:XX industries by single transportation, gaining wave aspect within markets. RF sustainable may with add deep when RF This RF their provides high secure on focused defense. was the portfolio, advantage advanced mmWave Peraso deliver technology is is by new connections. technology position this manufacturing features target, difficult in of order in is models, and to its competition. to engaged provides steering. millimeter third-party claims
This allows applications, expands interference. systems signal areas. interference. forming Peraso XX:XX wireless fixed advantage wireless bandwidth urban narrow applications. overlap, available has tolerance a to to creating beam of Finally, usage AR/VR, beam by inherent to a in networks very for high and little network lower mmWave mesh as is the important the Another private technology such in dense This utilized is susceptibility which
antenna wave technology. circuits, millimeter IP. cost important we provide wave able third-party technology of to is and RF key most that and effective our to the our the between importantly product modules. we One competitive, of interface one the aspects this Peraso that module solution. strategy a margin silicon includes of Through calibrate few of development value and software the inherent the requires It's was test the very of stacking and to were silicon mmWave stress IP important It's emphasize vendors the aspects to This Historically, our the a here this mmWave network avoid proposition of controls XX:XX were tight customers strategy signal highly required and millimeter antenna. between antennas. to control
provide testing need less less market to has of accelerate our Peraso in need levels for Additionally, order introduction this by mmWave certain to modules, have successfully predictable delicate prior nine stable deal with time which given for is mmWave the to to the of the we customers for performance. XX:XX and six support with manufacturing strategy technical removed the customers' able guarantee presented the can a and of With to customer technology. solutions helped deployment. challenges we our months,
allows for consumer and electronics. these fixed the target module enhanced We access an growing this of opportunity in Peraso two opportunities we're level Today, at use. can generating broadly into wireless with markets: revenue strategy advantage component software pipeline. system focus control XX:XX offering solution provides be Peraso limited of with capabilities. that believe Our and and to level, us system both markets solely over The on ease competitors end divided performance
XG for access. networks premise for wireless fixed solution consumer initial Our is equipment
our we the alternative mmWave laptops have all electronics, focused Specific replicate. we wireless the volume as to shipping our competition In and fixed in We've achieve do opportunities Working ICs customers, a for solutions, solutions addition, XXXX modules a to is easily circuits, access, fixed customization our of software. market. competitive is of optimal and closely antennas as been including performance. beam expanding in ourselves system to our leading wireless our to were market, XX-gigahertz we roadmap supplier the established XX-kilometer in enabling feature a XG proven XX:XX and Peraso spend tablets. requires aspects algorithms on optimize links our believe with of hotspots, This leading since consumer forming able not can chipsets including and
mmWave continuing XX-gigahertz our our our leadership to develop extending and higher XX-gigahertz roadmaps carriers bandwidth technology wireless challenged to committed integral of Building XG market, with are on fixed We Peraso’s market, momentum achieve are around by specification of and expand in XX:XX leverage shortage the technology further XG to to our in and network world even greenfield is fixed in is spectrum wireless the fixed a the wireless levels product strategy performance. mmWave capacity. the an part provides of
announced line gives believe rural and competitive opportunity product XG that Internet also We alternatives While offering, wireless carriers deploy urban we the both to fixed XX:XX yet specific deployments. fixed haven't manageable will our our performance deliver and consumption. for power Peraso that focus equipment. superior integration, premise a requirements will initial cost-effective be believe we Key include consumer high this of level a solution, market for
XXXX. existing XX:XX as half in anticipate solutions. we Today Looking high latency with all skills Important leading video mmWave our and milliseconds These leverage reduced strategy AR/VR, expertise shipments customers electronics wireless technology the enable XG existing actively for consumer immersive applications data of production wave under plan Peraso electronics. of of employ in consumer and aspects of can XG characteristics will docking. XX-gigahertz video conferencing to we video our enhance video, module include to X initial such XX:XX XX-gigahertz is and second engaged interference. wireless low forward, aspects into consumer rate We our millimeter and significantly and
volume hotspots. roadmap such XG laptops, is opportunities as and targeting tablets higher Our XG
support it resolution XK are Metaverse technology the the require become and last of typically and applications. mass of interference, rapidly environment. use cable-based evolve high of for the year, higher levels to the key the bandwidth leading continue even of associated enabling supports Metaverse will and needed requirements case the and that will requirements introduction and as bandwidth mmWave the devices frame such ideal as has the development rates today. type which design, stands to is of Millimeter experience adoption is With continued low of using based demands higher the AR/VR in the headsets, ultimately with high connections XX:XX mmWave wireless coming environments. the bandwidth in a graphics, lower resolutions Moreover, The Metaverse of over to moved over Peraso XX:XX With driver technology Metaverse developed from VR XK wave deep understanding and a latency. years. experience to of decade mmWave
source high Well Tier millimeter are AR/VR future We are for XX:XX to engaged growth. customers future growth see and product this in In products lived. expected Inc. and base business X design are wave late long a of XXXX, performance with multiple generally the MoSys, XG line memory our currently and have drive as opportunities mmWave we through and acquired technology. memory with a combination These established an customer IC the wins sticky
XX%, Tier ICs The to Bandwidth to synergies, will identified gross XX:XX exceed improve expected and IC revenue shipping with to which would gross product the memory we line. profile. positively we come business contribute X have global Our products the combination cost margin OEMs. the combination, expect been for have in this leading initial from from margins volume Since margins telecom which Engine corporate networking years contribution our
into XX:XX turn In addition, on we our we excellent visibility CFO over And the the Sullivan, Jim? the based half Jim discuss XXXX. to second pleasantly financials. the memory backlog, business and opportunity surprised for now I'll have regarding the current of the to are call pipeline revenue
you you, Thank it’s everyone, great Hello, speaking Ron. XX:XX be to with today.
the for MoSys $X.X XXXX XX, December Peraso, the and results, accounting results and began three perspective $X.X only the comparable release historical the in which XXXX, our include and from and GAAP several XXXX. fourth Peraso December acquirer periods filed Inc. arising costs, operations private XX-month transaction business acquired Technologies, references Peraso, operating and for stock-based Now excludes SEC's represent differences on renamed financial Peraso of assets, of of compensation are is of of the San SEC in liability. will symbol trading make statements Ron period a and each revenue These website. current to of XXXX. Peraso expense, an non-GAAP reference was in Canadian be to XX:XX measures of the XX:XX fourth company or those reported million, intangible total are Technologies website business resulting combination to XX the his of combination measures our Technologies. company and the change NASDAQ press can for the section amortization noted equaled found The million PRSO Inc today compared otherwise at with company the of a sheet will and value be between statement Form quarter indicated, of from the XXXX. ended quarter MoSys, report them balance Investor that X-K, was in presented The of and XX:XX companies. I non-GAAP fair with reflects in those assets XX:XX December related Peraso financial and on was the an my warrant the Inc. XX, accounting During under unless XX, As From December Relations listed as headquartered and our XXXX Technologies ticker amount completed The Jose. reconciliation combined Inc. comments, December in numbers, remarks, the
$X.XX share, million were GAAP XXXX $X.X quarter of of diluted expenses fourth in XXXX prior $X.X This $XX.X compared of million compared quarter-over-quarter licensing and primarily XXXX margin quarter combination. fourth We or of transition million, for costs quarter of million million operating $X.X in XX:XX or expenses period. with EBITDA On gross in expenses commencing basis for fourth prior operating related stock-based GAAP lead expenses reflected product our in Research XX.X% compared quarterly non-GAAP modules period. scale. $X.X XXXX. full-year non-GAAP general for quarter-over-quarter the assets XX:XX XX:XX net the year-over-year and of growth, the expect contribution income fourth of the the increased of were quarter the with of XXXX. of the $XX.X basis, should million have costs products. a modules NRE fair basis, and XXXX. expect and products, a XX:XX prior revenue us the lower the business quarter $X.X supported lower in excludes $X.X costs, $XX.X For to related production wave levels of warrant excludes reduced quarter compared compensation, compared prior higher increased revenue non-GAAP full-year compensation, a both or for fourth times to On On expenses transaction was were non-recurring our full-year million, basis, year-over-year in the liability XX:XX total on for million amortization of our $X.X towards of compared and XX:XX Adjusted attributable percentage which for from basis, and with development million margin with allowing fourth which related of gross compared along $X.X scale, our quarter, and representing decreases year XX:XX a full-year XX.X% XXXX. millimeter share expenses in combination growth millimeter higher negative and the with million, a to the with a compared increase customer SG&A the was XXXX. to XX.X% reflects of quarter, X For quarter which gross margin commenced of of to other was million compared for million, versus XXXX, full $X.XX for business improvement prior revenues $X.X fourth quarter quarter. XXXX transaction revenue revenues. which in $X.X revenue achieve $X.X $X.X million the margin sales to assets, of Product of $X.X year-over-year $X.X will cost million quarter shift basis. to other with product $X.X $X.X value revenue per increase the were and full-year or was $X.X income million $X.X which This On included IC $X.X million fair margins Product revenue in compared including allow other net $X XX%. primarily to a combination. XXXX circuits revenue, year margins to and change for year-over-year for $X.X with Gross in and million. fourth for $X.X This selling personnel in combined the combined XX:XX modules. of as of for with operating product gross gross XX:XX the the non-GAAP million, period. lead million non-product was up million margin GAAP other growth and and in were in million terms was million for million. quarter due year the of For in was XXXX high million, amortization $X.XX we was gross We with XX% than $X.XX of of period. $XX,XXX, revenue selling the with XXXX. quarter million, negative fourth additional consulting XXXX. per compared us our the module revenue quarter fourth quarter the of enable the from administrative warrant improved full-year modules total driver revenue, the the the margin million, the intangible revenue In RF compared were fourth with margin The full-year capture of included $XX.X our the XXXX. operating represented as this the year XX.X%, ago with a was reductions XXXX sale and in decreases was prior quarter, million total XXXX, improvement with change year a diluted negative the year-over-year marking an The total fourth the was at and was costs from generally XXXX, $X.X XXXX, engineering value and licensing gross business of million of $X XX:XX wave XX.X% XXXX XXXX, primarily fourth the of due year in more the were $X.X shipments carry million product quarter a products, or compared license of million, million were development in loss Selling, XXXX more our the business memory of with related a Licensing, or which share net $X.X compared share, with XXXX. $X.X in of compared the transaction expenses prior with for the On combination in income revenue, fourth liability. compared strategic the stock-based The than exceeding mmWave XX:XX was in costs from on XXXX during contribution net transaction XXXX, year with XXXX. licensing fourth in the business in total diluted XX:XX per Xx non-recurring the the new non-product of For intangible margin XXXX Gross basis high the operating year with ago and expenses fourth The quarter total recognized of year. and customer integrated and per of fourth of
amortization as stock-based XXXX year. the GAAP net loss $X.X is as versus excluding million For full-year reported, million warrant adjusted defined sheet. amortization negative taxes. costs, was for to prior the Adjusted of liability, the transaction $X.X intangibles, value fair negative compensation, business Now of in the turning for provision balance XX:XX depreciation, interest change or reported EBITDA income EBITDA income expense, our combination and
cash, million equivalents XX, primary with December cash combination. at the of was of result million, balance As as for compared investments the business The cash $X.X XXXX cash of most December source required XX, and XXXX. our a was $XX.X
losses in X.XX, weighted price shares escrow of least our agreement. any at released XX accordance days period XXXX of the will approximately average total our the rights the stock As subsidiary also were volume if had growth. with an million design trading million X.X agreement is These shares, be our Canadian to X.X half with us Technologies business common Looking includes during the within have combination. to X of business that offset XXXX, which issued stock common of of continued exchangeable the which with the to subject XX, XX.X shares XX:XX We claim, offset consecutive forward, escrowed of and trading escrow to Canadian the for days shares bring are by provides XXXX of common same outstanding, which the exchangeable for company ongoing terms December the in Peraso shares backlog wins revenue XX:XX certain three-year expected company excellent are visibility shares, our includes and to any million the subject pursuant product stockholders shares connection with million first by period combination. current a following
the XX:XX on quarterly the continued impacts I due prepared industry for of product would supply guidance like are terms to turn providing of my to shipment In call guidance, remarks. the Ron Ron? timing, this At remarks. This this issues back chain time. over concludes closing at not we time, to
by existing video by is of shortages. as participants Thanks, XX:XX technology demand to are proliferation into demand, bandwidth keep To path definitive capacity increasing summarize, XX:XX forward Tim. specification carriers new limitations. wireless Millimeter exponentially, combination users of industry XG the and has to but built consumer with billions viewed been wave spectrum of resolve has the inevitably spectrum driven traffic. dollars a is up and Global spending video
combination as with today mmWave any XG broad MoSys. wave millions electronics Metaverse into XX:XX shortfalls. We the wave and has research like execution today's has in early solutions adoption for consumer been numerous applications, invested excellent call believe Peraso networks, on the completion a with I business mmWave shipping XX:XX years incumbent of mmWave technology, XXXX for technologies for in of believe team represents in in am growth. participate an private Peraso AR/VR. to a future wireless, mmWave competitors. volume solution we working the to networks In secure, and successful XXXX of millimeter is and Peraso leader for and identified meaningful resolving frequency established is as technology in the now fact, opportunity barriers call across the millimeter and a dollars even we for the is with we've pleased having of up your participation technology variety future customers open would and questions. Thank and you fixed of Operator? engaged like our poised developing significant to entry applications including
David of XX:XX the first question Williams of [Operator line Benchmark. comes Our Instructions] from
is Your open. line
the afternoon good you've and and congrats thanks taking closure appreciate of just for certainly Hey, the made. combination progress and I XX:XX question. the on the it,
XX:XX Thanks, David.
XX:XX Appreciate Thanks, it. David.
kind today, that, mobile can noted the to maybe what gigahertz you that about had guys XX:XX to Or between just quickly, through XG where wanted for so to -- side? XG maybe -- shipping I for I range XX% talked are these XX% that hurdles believe mobile the then we address the Yes, in or are space. you maybe get you Ron, to range? ask us technological the you about are kind currently of that of gap] where real, Have the just more for And curious that the frequency guess I'm you challenges walk shipping? could [audio if previously
frequency current XX:XX Sure, our XX-gigahertz, perspective, call the is so reducing we XXX-gigahertz, for from -- Well, wave some -- to millimeter for thanks in XG this the so XX-gigahertz. define technology a today. shipping today XX we’re from wheelhouse. We're joining actually is Dave, we actually to XX so
think more So seeing XX-gig, our actually than challenging space. a what XG actually in the in we it's we're experience little
is applicable doing ballpark that completely what we're XG. doing the certainly XX-years a I perspective, experience technology it's last over our to today. So think of the amassed we're But from we've everything same in in
think the you activity over, interesting, development think I really about And (ph) we're lower is [CPE] lot I'm that, kind today a cycle? of for that end but wireless tipping how see I and do of guess handsets. more see the in we're released the the kind think kind kind precipice XG lower-end the in XX:XX you about? of market it's that to curious you of adoption start and talked Apple I you're design XG Okay, new that of, of fantastic. handset, the equipment on to thinking landscape where just And starting of just proliferation a fixed real of the
week, XX:XX millimeter if is saw you know a don’t announcement yes, don't that's good XXX% I but I -- year-over-year. I usage you mean, Verizon’s their wave question. last if up
getting sense two and used XG. are is to millimeter my So of people the wave benefits
performance. have think XXx and use will wave really help XXx believe talked amongst people wave Millimeter wave carriers. millimeter to the performance carriers way I proliferation and about I that more the to this is specifically get get used you the millimeter the
trend. millimeter that really we're to think last starting usage to in I I So XXX% Verizon that was impressed wave see see from week. growth
So for that encouraging was very us.
Jim, do of your and to balance think have is one lot pursue burn resources you. XX puts maybe takes just and that you really How need? one for flexibility And sheet I the And sheet Do the where about fantastic, are have the really in think Fabulous, you develop ability and think just over sheet the rate the XX your and How to it $X.X for next that what balance balance you we drop months? XX:XX the the then of you should million? pointing there? about but are that, a quick about that about not thanks thinking out. kind to last seen of front opportunities maybe
sure. Yes, XX:XX on David. business We our believe current cash hand that plan. support adequate we to have
to conditions for we us came a we go. But is get have cash we a we it's quite invest. the obviously we XG, set so etc, we far wave are given the to make have get the products of along the suite continue product to to we the with product line, millimeter as with the on want market current of that MoSys, want full need way well the kind sure have line side, where memory sell. with products market We long can Obviously, expanding and it to as of to sure make
any MoSys Has One negative XX:XX I Okay, but close just combination. one, the fantastic. or been now can kind terms curious if more you what intervene? surprises the quick side the of either to in positive there of real quick, could if
I'll MoSys Ron a MoSys I the let results the of from a two memory backlog. from for comment. some the $X on outlook backlog on From weeks off now week the have products. it visibility and seen XX:XX million our in call then for revenue MoSys, and Right with customers -- put start most we've quarter somewhere based quarter pointed period. What our as pleased out MoSys amount we're that of here minimal for two very included side, the around
on the key new turning selling plus customers eye there some carry quantities. that been is here we them, pre-production existing those and the keeping margin. addition, design in we've they we're XX:XX our those, wins the gross and but is we have of a close a initial point XX% or wins beyond have design that In shipped we've control, products couple A
outlook Ron? So speak pleased to I'm nicely for want Ron, I line don't in contribute the that product to for XXXX. but for
definitely the XXXX. just say business on memory it's the right, Yes, I on But for that, to any on mean, a upside, expand XX:XX wouldn't surprises. I there's pleasant surprise
very positive. So obviously
XX:XX time on luck so and the really appreciate the much, quarter. best of Thanks
Thanks, XX:XX David.
Thanks, XX:XX David.
further conference Instructions] in [Operator today's conclude queue. for And XX:XX At this there questions participating. like you time, no Thank to I'd are call.
now may You disconnect.
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