Transcript Inphi Customer Corporate Overview

Inphi Corporate Update
August 2013
Safe Harbor Summary
This presentation includes forward-looking statements relating to matters that are
not historical facts, including, without limitation, statements regarding Inphi’s short
and long term growth strategies, trends in IP traffic and technology adoption, the
future sizes and anticipated growth of the networking infrastructure, cloud
computing and data center markets, and the scaling of memory capacity with
CPU cores. In some cases, such forward-looking statements are identified by
words such as “anticipate,” “believe,” “plan,” “estimate,” “expect,” “strive,” “future,”
“intend” and similar expressions. Although Inphi’s management believes that the
expectations reflected in the forward-looking statements are reasonable, such
statements involve known and unknown risks, uncertainties and other factors that
may cause Inphi’s actual results to be different from any future results expressed
or implied by these statements, including the risks and uncertainties described in
the prospectus relating to the offering. We caution you that no forward-looking
statement is a guarantee of future performance, and you should not place undue
reliance on these forward-looking statements which reflect the view of Inphi’s
management only as of the date of this presentation. We assume no obligation
to, and expressly disclaim any obligation to, update any forward-looking
statements contained in this presentation as a result of new information or future
events or developments.
Inphi Proprietary
Proprietary andand
Confidential
Inphi
Confidential
22
Growing Processor – Interconnect Gap
100x in 10 Years
15x in 10 Years
MOORE’S LAW
Processor Bandwidth
Interconnect Bandwidth
Inphi Proprietary
Proprietary andand
Confidential
Inphi
Confidential
33
…For Inphi to Address Layer 1 Interconnect Bandwidth
Optics to Network
Network to CPU
CPU to Memory
Amplifier
CDR
Buffer
Optical
Fiber
RDIMM
LRDIMM
Memory
Driver
SerDes
Register
High-Speed Data Transport and Signal Integrity
Inphi Proprietary
Proprietary andand
Confidential
Inphi
Confidential
44
Signal With Integrity
Competitive Solution
Better Signal
Detection
Faster
Throughput
Inphi Solution
Improved
Error Margin
High Signal
Integrity
Inphi Proprietary
Proprietary andand
Confidential
Inphi
Confidential
Longer
Distance
55
Differentiated Products/Growing Markets
Optics
Networks
Memory
Long Haul
Metro
Enterprise & Data Center
Inphi Proprietary
Proprietary andand
Confidential
Inphi
Confidential
66
CPU to Memory Products
Inphi Proprietary
Proprietary andand
Confidential
Inphi
Confidential
77
Memory Interconnect Trends
In-Memory Analytics for Big Data
Growing x86 Server Virtualization Density
80
12
70
10
Forecast
VMs per Host
EXABYTES
60
50
40
30
20
8
6
4
65%
72%
77%
58%
49%
VM Density per
Host Server
% of Installed
Workloads Running
in a VM
2
10
0
0
2011
Unstructured Data
2012
2013
Structured Data
2014
2012
Graphics Rendering
2013
2014
2015
Source: Gartner and IDC
Source: EMC and IDC
Escalating Memory-Intensive Workloads
HPC
2011
Data Center Processor Growth
Network
2x Volume
Growth
Ent.Storage
Workstation
HPC
Financial
Trading
Public Cloud
Enterprise
Small Scale
Content Delivery
and Gaming
Big Data
2011
2016
Source: Intel
Inphi Proprietary
Proprietary andand
Confidential
Inphi
Confidential
88
DDR3 & DDR4 Register and Memory Buffers
Key Products
Differentiators
Inphi Memory Buffer (iMB™) for LRDIMMs
Core 0
Core 1
Core 2
 Higher system memory capacity, performance, and
performance/watt
Core 3
Link
Controller
8 MB Shared Cache
 Dependable quality & reliability due to best in class
signal integrity even at high signaling rates
Memory Controller
Inphi Memory Registers for RDIMMs
1333 MT/s
 Industry’s 1st standards compliant
1333 MT/s
LRDIMM Solution
1333 MT/s
1067 MT/s
1067 MT/s
1067 MT/s
1067 MT/s
RDIMM Solutions
1333 MT/s
 Qualified across all major ecosystems
 Lowest power consumption
 Dependable quality& reliability due to best in class
signal integrity even at high signaling rates and
custom features
 Qualified across all major ecosystems
1
2
3
DDR3 Channel
Memory
Register
3
1
2
3
3
DDR3 Channel
Memory Buffer
• Increases Memory Capacity by ~3x
• Increases Channel Speed by 1.3x
Inphi Proprietary
Proprietary andand
Confidential
Inphi
Confidential
99
Orders per minute 3.75x with 32GB LRDIMMs in a
Virtualized E-commerce Application!
Productivity
Power Efficiency
Real estate
768GB RAM
(iMB enabled
Samsung
LRDIMM
configuration)
450,000
400,000
350,000
300,000
250,000
200,000
150,000
100,000
50,000
0
384GB RAM
(RDIMM
configuration)
Performance per watt
10
11
Number of VMs
12
600
Orders per minute/watts
Orders per minute
Database performance
768GB RAM
(iMB enabled
Samsung
LRDIMM
configuration)
500
400
300
384GB RAM
(RDIMM
configuration)
200
100
0
10
Source: Principled technologies
Inphi Proprietary
Proprietary andand
Confidential
Inphi
Confidential
11
Number of VMs
12
10
10
Optics to Network Products
Inphi Proprietary
Proprietary andand
Confidential
Inphi
Confidential
11
11
Optics Interconnect Trends
Reconfigurable Colorless Networks
Long Haul: Higher Bandwidth 400G
100G coherent will dominate network build out
Complex modulation formats such as 16QAM
require Quad Linear Drivers
Data Centers: Low Power 100G Ethernet
Metro: Low Power 100G Coherent
12W
80W
32W
CFP
12W
5W
6W
CFP2 CFP4
Higher density, lower cost, lower power
for core routers
8W
CFP
CFP2
CFP4
Higher density, lower cost, lower power for
switches
Inphi Proprietary
Proprietary andand
Confidential
Inphi
Confidential
12
12
Next-gen 100G/400G Reconfigurable Colorless Network
Key Products
Differentiators
Industry Leading TIAs and Drivers
MZ Modulator
DAC
Inphi
100G/400G
Quad Linear
Drivers
Fiber
Out
 Optimum packaging technologies from low
cost plastic, organic packages to high end
ceramic and “gold box” packages
3214
DSP
3250
90
Degree
Hybrid
Mixer
LO
Laser
3250
90
Degree
Hybrid
Mixer
 System-level expertise from fiber-to-memory
BS
 Highly integrated dual and quad solutions
ahead of competition
ADC
Inphi Dual Linear
Transimpedance
Amplifiers
 Advanced process technologies beyond
CMOS
Fiber
In
PBS
Inphi Proprietary
Proprietary andand
Confidential
Inphi
Confidential
13
13
Network to CPU Products
Inphi Proprietary
Proprietary andand
Confidential
Inphi
Confidential
14
14
Network Interconnect Trends: Paradigm Shift to MSDC
Massively Scalable Data Centers
Data Center Market Transition
Core and Aggregation
Roadmap: Low Power, High Density 100GE
Workloads in the Cloud
16-W
8-W
6-W
3.5-W
Source: Cisco Systems
Inphi Proprietary
Proprietary andand
Confidential
Inphi
Confidential
15
15
Next-gen 100G Solution for 1.2T – 2.4T Line Cards
Key Products
Differentiators
10X
Bandwidth
1.2 – 2.4 Terabit System
System
ASICs
1.2 – 2.4
Tbps
Capacity
100G SERDES
GEN 2 MODULE
100G SERDES
GEN 2 MODULE
100G SERDES
GEN 2 MODULE
100G SERDES
GEN 2 MODULE
100G SERDES
NX100G
1st Gen
100G SERDES
 Full support for multiple data rates 10G/40G/100G
 Improved optical margins
 Lowest power enabling a lower carbon
footprint in data centers
GEN 2 MODULE
NX100G
GEN 2 MODULE
100G SERDES
GEN 2 MODULE
100G SERDES
GEN 2 MODULE
100G SERDES
GEN 2 MODULE
100G SERDES
GEN 2 MODULE
 High frequency trading and low latency data
center fabric
 Highest resolution, non-destructive on-chip
signal integrity
2nd Gen
100G CMOS Gearbox
100G CMOS CDR
Next-Gen Modules with 12-24x Density
Inphi Proprietary
Proprietary andand
Confidential
Inphi
Confidential
16
16
We Serve Growing Markets
$1B+ TAM by 2015
10M Servers + 1M 40G/100G Ports
Long Haul
Metro
Inphi Proprietary
Proprietary andand
Confidential
Inphi
Confidential
Enterprise & Data Center
17
17
Inphi Leadership
Position
Background
Ford Tamer
President and CEO
John S. Edmunds
VP and CFO
Dr. Loi Nguyen
Founder, VP of Communications
Charlie Roach
VP of Worldwide Sales
Siddharth Sheth
VP of High-Speed Connectivity
Ron Torten
VP of Operations and IT
Lawrence Tse
Chief Technology Officer
Paul Washkewicz
VP of Computing and Storage
Norman Yeung
Senior VP of Engineering
Inphi Proprietary
Proprietary andand
Confidential
Inphi
Confidential
18
18
Strong Business Momentum
Quarterly Revenue
Growing Annual Revenue
Solid Balance Sheet (2Q13)
($MM)
100.0
$92
90.0
$83
80.0
$79
Cash
& short term
investments ($M)
$119M
Debt
None
70.0
$59
60.0
50.0
$43
$36
40.0
# of Qtrs. of Profitability
30.0
$21
17 Consecutive Quarters of
Non-GAAP Net Income
Before Taxes
20.0
10.0
$7
0.0
2005
2006
2007
2008
2009
2010
2011
2012
* Excludes stock-based compensation
Inphi Proprietary
Proprietary andand
Confidential
Inphi
Confidential
19
19
Thank you