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    Mayur Popuri

    Senior Research Associate at B. Riley Securities

    Mayur Popuri is a Senior Research Associate at B. Riley Securities, specializing in quantitative equity analysis across industries such as technology and semiconductors. He has actively covered companies including Silvaco Group Inc. and Kulicke and Soffa Industries, participating in earnings calls and delivering fundamental research insights. Popuri joined B. Riley Securities in 2024 after graduating from the University of Pennsylvania with a BA in Computer Science and Economics, and he previously gained experience in investment research roles. He holds a recent registration with FINRA, with no disclosures on his record, highlighting a commitment to professional standards.

    Mayur Popuri's questions to Silvaco Group (SVCO) leadership

    Mayur Popuri's questions to Silvaco Group (SVCO) leadership • Q4 2024

    Question

    Mayur Popuri asked for clarification on the path to achieving the 90%+ long-term gross margin target given the 2025 guidance. He also questioned the company's capacity for further M&A after the recent acquisition and whether the pace of adding new customers was sustainable.

    Answer

    CFO Ryan Benton explained that gross margin is highly sensitive to revenue scale due to a largely fixed cost base, causing fluctuations with quarterly revenue. CEO Babak Taheri stated that while there is an ingestion period for acquisitions, the OPC deal integration will be fast (3-6 months), and the company can digest another deal concurrently. Regarding customer acquisition, Taheri expects the pace to remain similar but noted a strategic shift towards acquiring higher-quality, larger customers.

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    Mayur Popuri's questions to indie Semiconductor (INDI) leadership

    Mayur Popuri's questions to indie Semiconductor (INDI) leadership • Q4 2024

    Question

    Mayur Popuri, on for Craig Ellis, asked for an update on the OpEx management program and whether the bulk of reductions were complete. He also questioned if the impacts from geopolitics and tariffs were short-term or if they posed broader challenges to long-term design-ins, particularly in China.

    Answer

    Kanwardev Raja Singh Bal (executive) clarified that more OpEx reductions are planned, with an additional $1 million to $2 million in run-rate reductions expected by late 2025. Donald McClymont (executive) characterized the tariff impact as short-term turbulence causing OEM planning uncertainty, noting that indie's supply chain (China-for-China) is structured to mitigate direct impacts and that long-term design-ins are not currently affected.

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