Achronix Announces 2020 Financial Results and Business Highlights
Achronix Semiconductor Corporation, a leader in high-performance field-programmable gate arrays (FPGAs) and embedded FPGA (eFPGA) IP today announced financial results for the year ended December 31, 2020, reporting revenue of $104.9 million and GAAP net income of $30.4 million and adjusted EBIT (non-GAAP) of $37.4 million.
- Revenue increased to $105 million in line with prior expectations, driven by mainstream Speedster22i products.
- Released the first device in the Speedster7t 7nm high-performance data acceleration FPGA family for manufacturing.
- Completed 7nm silicon validation of its 1-112G high-performance SerDes supporting 400G Ethernet and PCI Express Gen 5.
- Added 12 new sales representative teams in key geographies to accelerate the adoption of Speedster7t FPGAs and Speedcore products worldwide.
- Released new versions of Achronix design tools supporting the Speedster7t and Speedcore product offerings. New performance features include a simplified I/O designer toolkit and two-dimensional network on chip (2D NoC) analysis tools.
- Speedster7t FPGAs received the Frost and Sullivan New Product Innovation Award for 2020 North American FPGAs for Data Centers.
Robert Blake, Achronix’s Chief Executive Officer stated, “2020 was a strong growth year for Achronix. Our new and highly differentiated Speedster7t FPGAs together with our innovative Speedcore eFPGA IP solutions for data acceleration have seen significant levels of new design activity across all of our target end-market applications.”
Mr. Blake further commented, “We look forward to closing our merger with ACE Convergence Acquisition Corp. (ACE) in the second quarter of 2021 and completing our listing on Nasdaq under the new Achronix Semiconductor Corporation ticker symbol ACHX. Through this business combination, we intend to use the additional capital generated to help further accelerate the adoption of data acceleration solutions and strategic product development initiatives to drive long-term growth.”
About Achronix Semiconductor Corporation
Achronix Semiconductor Corporation is a fabless semiconductor corporation based in Santa Clara, California, offering high-end FPGA-based data acceleration solutions, designed to address high-performance, compute-intensive and real-time processing applications. Achronix is the only supplier to have both high-performance and high-density standalone FPGAs and licensed eFPGA solutions. Achronix FPGA and eFPGA IP offerings are further enhanced by ready-to-use accelerator cards targeting artificial intelligence (AI), machine learning, networking and data center applications. All Achronix products are fully supported by a complete and optimized range of Achronix design tools, which enables customers to quickly develop their own custom applications.