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    Richard Schafer • Oppenheimer & Co. Inc.

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

    Richard Schafer's questions to Veeco Instruments Inc (VECO) leadership • Q2 2025

    Question

    Richard Schafer of Oppenheimer & Co. Inc. asked how a major U.S. IDM's cautious spending on advanced nodes might affect Veeco's TAM outlook for Nanosecond Annealing (NSA) and Ion Beam technologies. He also inquired about the revenue timing for the GaN power evaluation.

    Answer

    CEO William Miller explained that while the IDM is transitioning to a foundry model, Veeco's short-to-mid-term business is not impacted as they continue to partner on R&D for next-generation nodes. Regarding GaN on Silicon, Miller stated the evaluation is progressing well and they anticipate it will drive pilot line business starting in 2026, ramping to high volume in 2027 and beyond.

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    Richard Schafer's questions to Monolithic Power Systems Inc (MPWR) leadership

    Richard Schafer's questions to Monolithic Power Systems Inc (MPWR) leadership • Q1 2025

    Question

    Richard Schafer asked for details on the market opportunity and revenue timing for data center rack power solutions and questioned how much Battery Management Systems (BMS) are expected to contribute to automotive revenue this year.

    Answer

    CEO Michael R. Hsing confirmed that samples for high-power rack modules are now being delivered but expects material revenue from this to be a 2026 driver. On automotive, Hsing noted that while MPS is shipping products for 48V and 800V transitions, significant revenue impact is more likely in 2026 and 2027. CFO Bernie Blegen added that the second-half automotive growth is primarily driven by content from prior design wins ramping in North America and Europe.

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    Richard Schafer's questions to Monolithic Power Systems Inc (MPWR) leadership • Q4 2024

    Question

    Richard Schafer asked for an update on the number of accelerated projects expected to ramp in 2025 and 2026, and questioned how MPS's potential content per vehicle in automotive might change in 2025 with the shift to 48-volt and 800-volt systems.

    Answer

    VP of Finance Tony Balow and CEO Michael Hsing explained that while MPS is engaged with all hyperscalers, the exact timing of project ramps is difficult to predict, though they expect scaling in the second half of the year. Regarding automotive, Michael Hsing noted that MPS has been preparing for 48-volt systems for years and its integrated solutions will set it apart. EVP and CFO Bernie Blegen added that the rollout starts with EVs and will be a multi-year trend. Tony Balow also mentioned that growth is broad-based beyond just ADAS.

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    Richard Schafer's questions to Monolithic Power Systems Inc (MPWR) leadership • Q3 2024

    Question

    Richard Schafer asked for color on the sequential decline in Enterprise Data revenue and whether the strong growth in other segments like Automotive and Communications marks a sustainable turn. He also inquired about content trends in China's auto market and its contribution to MPS's overall automotive business.

    Answer

    EVP and CFO Bernie Blegen attributed the Enterprise Data dip to customer ordering patterns and noted the future impact of second-sourcing, while emphasizing the company's strength in diversity. CEO and Founder Michael Hsing added that while competition is expected in the large AI market, MPS has new SoC and TPU-related designs ramping. Regarding Automotive, Blegen confirmed it's a sustainable step-up from new product ramps, a point echoed by Hsing. Vice President of Finance Tony Balow highlighted the broad-based nature of the auto strength beyond just ADAS. Hsing also confirmed that a significant portion of the auto ramp is from China, particularly in infotainment and ADAS.

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