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    Kevin Garrigan • WestPark Capital

    Kevin Garrigan's questions to D-Wave Quantum Inc (QBTS) leadership

    Kevin Garrigan's questions to D-Wave Quantum Inc (QBTS) leadership • Q2 2025

    Question

    Kevin Garrigan of Rosenblatt Securities asked about customer retention rates and how renewing customers identify new applications for D-Wave's quantum annealer.

    Answer

    CFO John Markovich stated the retention rate is over 90% for the last four quarters. CEO Alan Baratz added that they have two customer types: 'do-it-yourself' users and larger enterprises engaged through professional services on multi-application roadmaps. He noted the Quantum Launchpad program helps convert DIY users to more structured, value-driven projects.

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    Kevin Garrigan's questions to IONQ Inc (IONQ) leadership

    Kevin Garrigan's questions to IONQ Inc (IONQ) leadership • Q2 2025

    Question

    Kevin Garrigan questioned if there were any remaining technology gaps the company might fill via acquisition and asked for more details on the real-world quantum AI applications being explored with Japan's AIST.

    Answer

    CEO & Chairman Niccolo de Masi stated that the company's "north star" is to lead in the complete quantum internet—from sensors to computers to networks—and they will continue to evaluate opportunities to accelerate their roadmap. Speaking more broadly on AI, he pointed to existing successes in industrial AI and drug discovery as examples of quantum machine learning, emphasizing that IonQ partners with industry leaders like NVIDIA and AWS to deliver end-to-end solutions and is expanding into verticals like financial services.

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    Kevin Garrigan's questions to Arteris Inc (AIP) leadership

    Kevin Garrigan's questions to Arteris Inc (AIP) leadership • Q2 2025

    Question

    Kevin Garrigan inquired if AMD's decision was driven by a plan to disband its internal team or by performance limitations, and asked about Arteris's strategy to convert the 20+ customers evaluating FlexGen into sales.

    Answer

    CEO K. Charles Janac clarified that AMD is not disbanding its internal team but will use Arteris FlexGen for non-coherent applications alongside its own Infinity Fabric. He added that the numerous FlexGen evaluations are expected to result in sales starting in the second half of the year. CFO Nick Hawkins noted that the public validation from a major company like AMD will help accelerate other customer decisions.

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    Kevin Garrigan's questions to Arteris Inc (AIP) leadership • Q1 2025

    Question

    Kevin Garrigan from Rosenblatt Securities questioned if Arteris is observing an acceleration in customer decision timelines from initial conversation to a signed agreement, and asked about the potential for the new Intel Foundry Alliance partnership to attract new customers.

    Answer

    CEO Karel Janac stated that while customers are trying to accelerate their own design cycles, the company's licensing activity shows steady growth rather than faster deal closures. He noted the outsourcing trend is driven by the complexity of next-generation designs. CFO Nicholas Hawkins added that economic pressures and a scarcity of qualified hardware engineers are key factors pushing customers toward commercial IP. Regarding the Intel partnership, Mr. Janac expressed optimism that it will result in additional business over the next 12 months, citing Intel's increased openness to commercial IP solutions.

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    Kevin Garrigan's questions to Arteris Inc (AIP) leadership • Q4 2024

    Question

    Kevin Garrigan from Rosenblatt Securities asked about the trend in average selling prices (ASPs) per project, the company's progress toward its $1 million ASP target for 2026, and whether the design-to-production timeline for the new microcontroller (MCU) business differs from the company's typical average.

    Answer

    Executive Karel Janac confirmed that Arteris is on track for the $1 million ASP target on complex SoCs, noting they are already securing deals at that level. However, he clarified that the recent expansion into the microcontroller market will involve lower ASPs, which should be considered separately. Regarding MCUs, Janac explained the design dynamic is different; while major vendors start new generations every three years, they may then design 6-15 different MCUs in a very short timeframe within that generation.

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    Kevin Garrigan's questions to Arteris Inc (AIP) leadership • Q3 2024

    Question

    Kevin Garrigan of WestPark Capital asked if design activity in the Chinese EV market is increasing faster than elsewhere and if Chinese customers are accelerating development timelines. He also inquired about the average selling prices (ASPs) for licensing deals in the microcontroller market and sought customer feedback on the new NoC tiling product.

    Answer

    CEO Karel Janac responded that design activity is robust globally, not just in China, as companies are designing chips for future models like the 2030 automotive year. He confirmed that microcontroller ASPs are lower, but this is offset by very high royalty volumes and numerous designs, with a strategy to capture entire product generations. Regarding NoC tiling, Mr. Janac noted it's a new product developed at the request of AI customers, with significant interest, but revenue impact is expected next year. CFO Nicholas Hawkins added that Arteris has prior, successful experience in the MCU space with substantial royalty streams.

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    Kevin Garrigan's questions to Lattice Semiconductor Corp (LSCC) leadership

    Kevin Garrigan's questions to Lattice Semiconductor Corp (LSCC) leadership • Q1 2025

    Question

    Kevin Garrigan asked if the growth observed in the Industrial segment was broad-based or concentrated in specific pockets. He also inquired about the size of the AI opportunity for Lattice within the industrial market.

    Answer

    CEO Fouad Tamer indicated that while the Industrial segment is broad, they are seeing faster growth in areas like aerospace, defense, and medical. He explained that in Industrial AI, Lattice FPGAs can play a more significant role as the main processing element for tiny AI models, unlike their supporting function in data centers. This is due to the performance, low latency, and deterministic attributes of FPGAs in smaller IoT and monitoring applications.

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