Sign in

    Auguste Richard • Northland Capital Markets

    Auguste Richard's questions to Arteris Inc (AIP) leadership

    Auguste Richard's questions to Arteris Inc (AIP) leadership • Q1 2025

    Question

    Auguste Richard of Northland Capital Markets asked about the book-to-bill ratio, the evolution of chiplet standards like UCIe, the current size of the system IP market, and the underlying technological changes driving large customers to consider outsourcing.

    Answer

    CFO Nicholas Hawkins declined to comment on the book-to-bill ratio. CEO Karel Janac explained that the chiplet market is evolving from homogeneous to heterogeneous designs, which requires industry standardization around technologies like UCIe to be economically viable. He estimated the total addressable market for system IP is between $1 billion and $1.2 billion. Mr. Janac attributed the outsourcing trend to a steady increase in SoC complexity over many years—from multi-core to AI and now to chiplets—making it progressively more expensive and difficult for companies to maintain competitive in-house solutions.

    Ask Fintool Equity Research AI

    Auguste Richard's questions to Arteris Inc (AIP) leadership • Q4 2024

    Question

    Auguste Richard of Northland Capital Markets inquired about Q4 bookings, the functionality and pricing of the new FlexGen product, the company's involvement with the x86 architecture, the ability to mix-and-match NoCs in a design, and how the shift to chiplets impacts Arteris's business opportunity and the competitive landscape.

    Answer

    Executive Nick Hawkins acknowledged strong Q4 deal flow but did not confirm a specific bookings number. Executive Karel Janac explained that FlexGen automates NoC creation, providing a 10x productivity boost and superior PPA, with a 30% ASP uplift. Janac clarified that Arteris's involvement with x86 is for PC chipsets and confirmed their products are designed to be mixed-and-matched with other interconnects. He added that chiplets increase design complexity and ASPs, creating a significant revenue opportunity as each die is a separate project, often involving multiple licenses.

    Ask Fintool Equity Research AI

    Auguste Richard's questions to Arteris Inc (AIP) leadership • Q3 2024

    Question

    Auguste Richard of Northland Capital Markets asked about Arteris's penetration with cloud service providers designing their own ASICs, specifically how many of the top 30 tech companies are customers. He also sought confirmation on a large deal with a top-5 tech company, tried to clarify Q3 bookings figures, and asked for an update on a new product previously alluded to, separate from the NoC tiling feature.

    Answer

    CEO Karel Janac stated that among the top 30 technology companies by market cap, about half design their own chips, and Arteris is used by 10 of those 30. He confirmed the expanded deal was with a large hyperscaler. CFO Nicholas Hawkins addressed bookings, noting the analyst's estimate was a reasonable blended average for Q3 and Q4, with Q4 typically being the strongest quarter. Regarding the unannounced new product, Mr. Janac confirmed it is separate from the tiling feature, has early installations, and more information will be shared on the Q4 call. Mr. Hawkins added that no revenue has been recognized from it yet.

    Ask Fintool Equity Research AI

    Auguste Richard's questions to Power Integrations Inc (POWI) leadership

    Auguste Richard's questions to Power Integrations Inc (POWI) leadership • Q1 2025

    Question

    Auguste Richard, also known as Gus Richard, asked about geographic demand trends, specifically the behavior of Chinese OEMs and any observed shifts in manufacturing to India or Southeast Asia. He also requested a reminder of how currency fluctuations, particularly the dollar-yen and dollar-euro, impact gross margins.

    Answer

    CEO Balu Balakrishnan described Chinese customers as pragmatic and continuing business as usual, noting a gradual but ongoing shift of manufacturing by OEMs to regions like Vietnam and India. Executive Joe Shiffler explained that the primary currency sensitivity is the Japanese yen, where a 10% change impacts gross margin by 100-120 basis points. He added that the company is currently realizing a benefit of about 200 basis points from the yen's weakness.

    Ask Fintool Equity Research AI

    Auguste Richard's questions to PDF Solutions Inc (PDFS) leadership

    Auguste Richard's questions to PDF Solutions Inc (PDFS) leadership • Q1 2025

    Question

    Auguste Richard of Northland Capital Markets sought details on the two DFI systems shipped, including customer type and revenue recognition timing. He also asked about a recent public appearance with a key partner and the factors behind the moderated growth rate in the analytics business.

    Answer

    Executive John Kibarian explained that both DFI systems shipped were for existing logic customers, with one featuring new capabilities that require demonstration before revenue recognition. Regarding a recent public appearance, he declined to speculate on future business. On analytics growth, Kibarian attributed the pace to the customer adoption cycle for new, complex enterprise products, noting the company is working to improve its sales process for these larger deployments.

    Ask Fintool Equity Research AI

    Auguste Richard's questions to PDF Solutions Inc (PDFS) leadership • Q4 2024

    Question

    Auguste Richard from Northland Capital Markets asked for clarification on the eProbe sales contract terms, the impact of management changes at key customers, drivers for advanced packaging demand, and the company's penetration into the HBM DRAM market.

    Answer

    Executive John Kibarian detailed the new eProbe sales model where customers purchase the machine upfront (revenue recognized on acceptance) and can optionally subscribe to software and services. He stated that management changes at customers are less impactful now due to PDFS's increased business diversification. Kibarian noted that advanced packaging demand is currently led by foundries and IDMs, with future growth expected from OSATs. He also revealed that the eProbe has successfully opened new opportunities in the HBM DRAM market, particularly on the silicon processing side, reintroducing PDFS to that segment.

    Ask Fintool Equity Research AI

    Auguste Richard's questions to PDF Solutions Inc (PDFS) leadership • Q3 2024

    Question

    Auguste Richard from Northland Capital Markets asked for details on the one-time perpetual license deal that boosted Q3 gross margins, the expected revenue drivers for Q4, and an estimate of the voltage contrast market size, including the expansion potential from eProbe and memory applications.

    Answer

    CEO John Kibarian explained the perpetual license revenue was from legacy process control contracts tied to advanced logic and packaging build-outs, which drove the unusually high gross margin. For Q4 growth, he pointed to three drivers: an expected improvement in Integrated Yield Ramp (IYR), a significant contribution from DFI as a customer evaluation completes ahead of schedule, and the beginning of revenue recognition from large cloud deals booked in Q3. He estimated the e-beam inspection market will grow to well over $1 billion, with voltage contrast being a key segment driven by 3D structures in both logic and memory.

    Ask Fintool Equity Research AI

    Auguste Richard's questions to Veeco Instruments Inc (VECO) leadership

    Auguste Richard's questions to Veeco Instruments Inc (VECO) leadership • Q1 2025

    Question

    Auguste Richard sought clarification on recent 'production tool of record' wins, asking if they represent new layers at existing customers or competitive displacements. He also asked about progress on backside power delivery applications, confirmed the Q2 guidance reduction was solely due to China tariffs, and inquired about the status of the GaN Power evaluation.

    Answer

    CEO William Miller clarified the wins are for a second, incremental application at two existing advanced logic customers for gate-all-around, and that decisions on backside power delivery have not yet been made. CFO John Kiernan confirmed the Q2 guidance reduction was entirely due to the $15 million in delayed China shipments. Regarding GaN Power, Miller stated that Veeco is meeting all technical requirements for a customer's planned 2026 pilot, but a purchase order has not yet been received.

    Ask Fintool Equity Research AI

    Auguste Richard's questions to Veeco Instruments Inc (VECO) leadership • Q4 2024

    Question

    Gus Richard sought confirmation on LSA qualification for gate-all-around (GAA), asked if NSA was being evaluated for backside power, confirmed the status of hard disk drive revenue, and inquired about the outlook for the Scientific segment.

    Answer

    CEO William Miller confirmed LSA is qualified for GAA and that NSA is being evaluated for multiple applications, including backside power. He affirmed that data storage revenue is now primarily spares and service. He also noted that the Scientific segment is expected to grow in 2025, driven by lumpy but increasing demand for quantum computing systems.

    Ask Fintool Equity Research AI

    Auguste Richard's questions to Ambarella Inc (AMBA) leadership

    Auguste Richard's questions to Ambarella Inc (AMBA) leadership • Q4 2025

    Question

    Auguste Richard asked about growth dynamics at the edge versus the data center, whether Ambarella is broadening beyond imaging, and how its long-standing automotive partnerships are evolving.

    Answer

    CEO Fermi Wang confirmed a 100% focus on the edge, with an interest in the emerging AI edge server market. Regarding automotive partnerships, he stated they continue to bid on opportunities but recently lost a major OEM bid. Despite having competitive technology and pricing, they were told the incumbent supplier offered certain 'scale benefits' that made the difference.

    Ask Fintool Equity Research AI

    Auguste Richard's questions to Ambarella Inc (AMBA) leadership • Q3 2025

    Question

    Auguste Richard asked about the potential Average Selling Price (ASP) uplift from AI-enabled consumer cameras and whether the company is seeing an uptick in demand from enterprise or government security customers.

    Answer

    President and CEO Dr. Fermi Wang confirmed a clear ASP uplift trend, with the company-wide ASP around $12-$13, rising to $25-$50 for CV5 and high teens to $30-$40 for the upcoming CV7 family. He also confirmed that the IoT enterprise segment continues to experience healthy growth, which could reflect increased demand for security solutions.

    Ask Fintool Equity Research AI

    Auguste Richard's questions to Quanta Services Inc (PWR) leadership

    Auguste Richard's questions to Quanta Services Inc (PWR) leadership • Q4 2024

    Question

    Auguste Richard asked if Quanta is seeing any impact from potential federal-level changes, such as government layoffs slowing approvals, deregulation, or solar panel tariffs, and how these factors might affect project timelines.

    Answer

    President & CEO Earl Austin stated that the company tries not to get distracted by political noise, which changes constantly. He assured that the company's 2025 guidance was constructed prudently and already accounts for potential impacts from such uncertainties. He believes that regardless of the political scenario, the fundamental reality is that infrastructure demand will outpace supply, creating sustained opportunity for Quanta.

    Ask Fintool Equity Research AI

    Auguste Richard's questions to Quanta Services Inc (PWR) leadership • Q3 2024

    Question

    Auguste Richard from Northland Capital Markets asked about near-term solutions for electricity demand potentially outpacing supply. He also inquired whether Quanta is seeing increased demand for grid hardening services following recent severe weather events.

    Answer

    President and CEO Earl "Duke" Austin identified longer-duration batteries and natural gas generation as critical near-term solutions to support grid reliability and depleted reserve margins. He confirmed that demand for grid hardening is strong, with multiyear programs for fire and storm mitigation underway across the country, noting that these initiatives are still in their early stages in many areas.

    Ask Fintool Equity Research AI

    Auguste Richard's questions to Enovix Corp (ENVX) leadership

    Auguste Richard's questions to Enovix Corp (ENVX) leadership • Q4 2024

    Question

    Auguste Richard asked about the battery technology produced at the Korean facility, its suitability for military applications, and the expected capacity utilization of Line 1 before additional lines are brought online.

    Answer

    CEO Raj Talluri explained that the Korean facility produces standard lithium-ion batteries specialized for high-discharge rates, making them ideal for applications like drones. COO Ajay Marathe stated that Line 1 utilization will ramp based on the pace of customer qualifications, which in turn dictates the timing for ordering components for subsequent lines.

    Ask Fintool Equity Research AI

    Auguste Richard's questions to Enovix Corp (ENVX) leadership • Q3 2024

    Question

    Auguste Richard asked about the potential revenue capacity of the first high-volume production line based on the expected 2025 mix of IoT and mobile customers. He also inquired if the plans for a second production line remain on track for the end of next year.

    Answer

    CEO Raj Talluri reiterated the line's capacity of roughly 9 million units annually but stressed that customer qualification timelines, not production capacity, are the primary gating factor for revenue. Regarding Line 2, he and executive Ajay Marathe explained that they are focused on significant cost reduction based on learnings from Line 1 and will time the orders based on demand visibility in 2025.

    Ask Fintool Equity Research AI

    Auguste Richard's questions to CEVA Inc (CEVA) leadership

    Auguste Richard's questions to CEVA Inc (CEVA) leadership • Q4 2024

    Question

    Auguste Richard of Northland asked for a comparison of the expected 2025 revenue growth rates between Ceva's cell phone modem and Wi-Fi businesses. He also inquired how Ceva is positioned for the bifurcation of AI models into large language models and more complex reasoning models at the Edge.

    Answer

    CFO Yaniv Arieli explained that it is difficult to predict which segment will grow faster due to the unpredictability of customer royalty ramps, but noted positive trends across the board. CEO Amir Panush added that the company expects significant growth across all product lines, with a stronger second half of 2025. Regarding AI models, Panush affirmed that Ceva's strategy is to provide a complete portfolio of scalable AI accelerators to support the full spectrum of use cases, from low-power MCUs to high-performance SoCs.

    Ask Fintool Equity Research AI

    Auguste Richard's questions to FormFactor Inc (FORM) leadership

    Auguste Richard's questions to FormFactor Inc (FORM) leadership • Q3 2024

    Question

    Auguste Richard of Northland Capital Markets questioned if the Q3 gross margin decline was due to the HBM vs. DDR5 mix and if HBM probe cards command a premium. He also asked for an updated timeline on when co-packaged optics (CPO) will reach volume production.

    Answer

    CFO Shai Shahar confirmed the margin change was from product mix and that HBM probe cards are a differentiated, higher-margin product within the DRAM category. CEO Mike Slessor maintained the CPO volume production timeline of late 2025 to early 2026, emphasizing the significant development work currently underway to enable the transition to high-volume manufacturing.

    Ask Fintool Equity Research AI

    Auguste Richard's questions to Teradyne Inc (TER) leadership

    Auguste Richard's questions to Teradyne Inc (TER) leadership • Q3 2024

    Question

    Auguste Richard asked about expectations for complexity growth in next-generation mobile processors due to AI and potential modem integration. He also requested a quantification of the sequential increase in SOC tester capacity utilization.

    Answer

    CEO Greg Smith noted that next year's mobile processors, currently in the test chip phase, show modest complexity increases, largely tied to AI. He does not see a trend toward modem integration but does see potential shifts in the modem supply chain. Regarding utilization, he declined to give an absolute number but stated it was up a "fair amount" quarter-on-quarter, in the mid-to-high single-digit range, and expects further significant increases in Q4.

    Ask Fintool Equity Research AI

    Auguste Richard's questions to Semtech Corp (SMTC) leadership

    Auguste Richard's questions to Semtech Corp (SMTC) leadership • Q2 2025

    Question

    Auguste Richard from Northland Capital Markets inquired about the competitive landscape for high-speed analog interfaces, asking if any new competitors are emerging beyond established players like Marvell (Inphi) and MACOM.

    Answer

    President and CEO Hong Hou affirmed that the mentioned companies are the primary first-tier competitors. While acknowledging the potential for new entrants, he emphasized the significant time and expertise required to build competitive capabilities in design, testing, and operations. Hou stated Semtech's strategy is to remain 'comfortably paranoid' and secure its market position through superior technology and operational execution.

    Ask Fintool Equity Research AI