Achronix Revenues to Grow 700% YoY and Exceed $100M in 2017

Press Releases Date
  • Achronix aggressively hiring to fill sales, engineering and technical support roles to support the high demand for Achronix products
  • Achronix investing in new FPGA-based data accelerators to drive future growth

Santa Clara, Calif., June 14th, 2017 – Achronix announced today that its revenues will grow over 700% year over year and will exceed $100M in 2017. Achronix’s exceptional growth is driven primarily by sales of its Speedster®22i FPGA family and licensing of its Speedcore™ embedded FPGA (eFPGA) IP products. Achronix revenues began to significantly ramp in 2016 and the company reached profitability in Q1 2017. As a result of its strong revenue growth and new design activity, Achronix plans to expand its headcount in three key locations:

  • Santa Clara, USA: worldwide headquarters
  • Bangalore, India: hardware and software development
  • Shanghai and Beijing, China: sales and technical support

The additional headcount will enable Achronix to accelerate its investment in innovative technologies that will further differentiate its products and continue to drive growth. Achronix plans to increase its total headcount by 35% by the end of 2017.

“2017 is a breakout growth year, which establishes Achronix as one of the fastest growing semiconductor companies in the world.  We are experiencing strong customer demand for both our Speedster FPGAs as well as our newer Speedcore embedded FPGA in hardware accelerator applications. We are looking for new talent to complement a very strong core team to continue delivering highly innovative silicon and software products,” said Robert Blake, President and CEO, Achronix Semiconductor. “Looking forward, we are entering a new high-growth era where our customized core FPGA technology can accelerate a broad range of complex compute tasks in machine learning, artificial intelligence, software defined networks and 5G base stations.”

The fastest growth segment in the semiconductor industry is hardware accelerator devices that offload CPU data processing and super charge system performance. This segment is expected to grow over 60% per year through 2020, driven primarily by programmable solutions to implement algorithm changes needed to optimize performance for years to come. Of the various programmable architectural options, FPGAs with their ability to create massively parallel structures are the lowest power and the highest performance solutions available.

All of Achronix product lines are built for hardware acceleration applications:

  • Speedster standalone FPGAs: The Speedster22i FPGA family is a high-performance and high-density family built on 22nm FinFET technology that offers device densities up to 1 million effective look-up-tables (LUTs) and embedded hard IP for communications applications. Speedster22i devices began shipping in 2013 and moved into production in 2015. Achronix’s next-generation Speedster family will be available in 2018 and be a blend of FPGA and hard accelerator structures that offer the highest performance and lowest power solutions for CPU offload for data center and enterprise applications.
  • Speedcore eFPGAs: Based on the same proven high-performance, high-density architecture as Speedster FPGAs, Speedcore IP is in production on TSMC 16FF+. Achronix began shipping Speedcore eFPGA IP to customers in 2016 and is ramping significantly in 2017 based on demand in data center HPC applications, wireless infrastructure, networking infrastructure and automotive ADAS and AD systems. Achronix is developing its next-generation Speedcore architecture that will be available on TSMC’s 7nm process technology for design starts in 2H 2017.
  • Speedchip™ FPGA-based accelerator chiplets: Achronix is currently working with several companies to define and build custom FPGA-based chiplets for 2.5D package integration. Companies interested in Speedchip chiplets are asked to contact Achronix for more details.
  • ACE design tools: All of Achronix FPGA products are supported by Achronix’s best-in-class design tools called ACE. Achronix will continue to add features and enhance functionality to support FPGA-based acceleration applications.

Achronix Products Target Applications in Accelerator Markets

The enormous data and computational requirements from Artificial Intelligence (AI) systems such as machine learning, deep learning, computer and embedded vision, along with 5G wireless infrastructure are driving the market for hardware accelerator devices that offload CPU data processing and super charge system performance. FPGAs, with their ability to create massively parallel structures as hardware accelerator devices, can be reprogrammed to support changing algorithms and are the lowest power and highest performance programmable hardware accelerators available. Speedcore eFPGA delivers further performance acceleration with 10× lower latency and 10× higher bandwidth compared to standalone FPGAs. Speedcore IP is currently being used or evaluated for high-performance acceleration systems including data center acceleration, automotive ADAS, database acceleration, and 5G wireless infrastructure.

About Speedcore Embedded FPGA (eFPGA)

Speedcore IP is embedded FPGA (eFPGA) that can be integrated into an ASIC or SoC. Customers specify their logic, RAM and DSP resource needs, then Achronix configures the Speedcore IP to meet their individual requirements. Speedcore LUTs, RAM blocks and DSP64 blocks can be assembled like Lego blocks to create the optimal programmable function for any given application.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements generally are identified by the words “intend,” “future,” “may,” “will,” “would,” “will be,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. All statements, other than statements of present or historical fact included in this press release, including Achronix’s strategy, products, operations, prospects and pipeline expectations, and plans and objectives of management are forward-looking statements. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: changes in domestic and foreign business, market, financial, political, and legal conditions and changes in the combined capital structure; the ability to implement business plans, forecasts, and other expectations and identify and realize additional opportunities; risks related to the rollout of Achronix’s business and the timing of expected business milestones; the effects of competition on Achronix’s business; the effects of the cyclical nature of the semiconductor industry on Achronix’s business; risks related to Achronix’s customer concentration; the risks to Achronix’s business if internal processes and information technology systems are not properly maintained; risks associated with Achronix’s operational dependence on independent contractors and third parties; risks associated with Achronix’s reliance on certain suppliers for, among other things, silicon wafers, and shortages or interruptions in supply of wafers and other supplies; risks and uncertainties related to Achronix’s international operations, including possible restrictions on cross-border investments which could harm Achronix’s financial position; and risks associated with Achronix’s ability to develop new products and adapt to new markets. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of ACE’s registration statement on Form S-4, filed with the SEC on February 10, 2021, as may be amended from time to time, and other documents filed or that may be filed by ACE from time to time with the SEC and available on EDGAR at www.sec.gov. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. There may be additional risks that Achronix does not presently know, or that Achronix currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements as predictions of future events, and Achronix assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by applicable law.

About Achronix Semiconductor Corporation

Achronix Semiconductor Corporation is a fabless semiconductor corporation based in Santa Clara, California, offering high-end FPGA-based data acceleration solutions, designed to address high-performance, compute-intensive and real-time processing applications. Achronix FPGA and eFPGA IP offerings are further enhanced by ready-to-use accelerator cards targeting AI, machine learning, networking and data center applications. All Achronix products are fully supported by a complete and optimized range of Achronix software tools called ACE, which enables customers to quickly develop their own custom applications.

Achronix has a global footprint, with sales and design teams across the U.S., Europe and Asia. In January 2021, Achronix entered into a definitive merger agreement with ACE Convergence Acquisition Corp. (Nasdaq: ACEV) in a transaction that would result in Achronix being listed on Nasdaq. The transaction is expected to close in the first half of 2021.

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Contacts

Bob Siller
Achronix Semiconductor Corporation
408-889-4142
bobsiller@achronix.com


Achronix and Speedster are registered trademarks, and Speedcore and Speedchip are trademarks of Achronix Semiconductor Corporation. All other brands, product names and marks are the property of their respective owners.