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8/12/2019 GigOptix (GIG) Needham Conference Version 1.14.14 FINAL
1/21
2014 GigOptix, Inc. All Rights Reserved
PoweringHigh
Speed
Networks
NYSEMKT:
GIG
Needham Growth Conference
January 14, 2014
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DisclaimerForwardLookingStatements:Thispresentationcontainsstatementsregardingoperatingtrends,futureresults,newprojects,andother
market,businessandproducttrendsthatareforwardlooking.Weundertakenoobligationtoupdateorrevise
theforwardlookingstatements,whetherasaresultofnewinformation,futureeventsorotherwise.Additional
factorsthatcouldcauseactualresultstodifferarediscussedundertheheading"RiskFactors"andinother
sectionsof
the
GigOptix
filings
with
the
SEC,
and
in
GigOptixs
other
current
and
periodic
reports
filed
or
furnishedfromtimetotimewiththeSEC.
UseofNonGAAPandAdjustedEBITDAFinancialMeasures:
Thesematerials
include
references
to
non
GAAP
revenue,
non
GAAP
net
income/loss,
Adjusted
consolidated
nonGAAPnetincome/loss,andAdjustedEBITDA.GigOptixbelievesthatthesenonGAAPfinancialmeasures
areimportantindicatorsoftheongoingoperationsofitsbusinessandprovidebettercomparabilitybetween
reportingperiodsandprovideabetterbaselineforanalyzingtrendsinGigOptixsoperations.GigOptixdoesnot,
nordoesitsuggestthatinvestorsshould,considersuchnonGAAPandAdjustedEBITDAfinancialmeasuresin
isolationfrom,orasasubstitutefor,financialinformationpreparedinaccordancewithGAAP.GigOptixbelieves
thedisclosure
of
the
effects
of
these
items
increases
the
readers
understanding
of
the
underlying
performance
ofthebusinessandthatsuchnonGAAPandAdjustedEBITDAfinancialmeasuresprovideinvestorswithan
additionaltooltoevaluateourfinancialresultsandassessourprospectsforfutureperformance.
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GigOptixOverviewEmerging
Fabless
Leader
in
ICs
for
High
Speed
Cloud
CommunicationLinksandNetworkApplications
CoreProductsTarget3Markets:
Cloudconnectivity
High
speed
optical
and
wireless
networks Industrial
Customerbase: Tier1&2equipmentOEMsandODMs
MarketLeadership: OpticalenginesforActiveOpticalCablesand100Gbps
Coherentnetworkingsystems
SolidFinancial
Position:
Q413revenueof~$7.8M*,up~7%Q/Qandaboveguidanceofup5%Q/Q
Raised$12.6MnetinoversubscribedsecondarystockofferinginDec.2013
Q313revsof$7.3M;NonGAAPGMof62%;NoLTD;netcashof$9.3Mnot
including
the
recent
stock
offering
31.3MsharesO/S;MarketCapof~$54M
113Patents:CoreIPleveragedinourmajormarkets
Headquarters:SanJose,California
83employeesglobally,41inEngineering* Preliminary revenue guidance provided January 14, 2014
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GigOptixFocusedMission
EndUser DataCenter
Pointto
Point
WirelessLinks
Backhaul
Datacom
Optical Links
Cloud&Edge
OpticalLinks
&
motiongesture
amplification
EnablingHigh
speed
end
to
end
Network
Connectivity
Consumer
Electronics
TelecomOptical
Links
Core&Metro
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HighSpeed
Communications
(69%)
Industrial
(31%)
GigOptixBusiness
3~$29M 83
FY2013Forecast
Revenue
Employees
Optical (64%)
Core&Metro(telecom)
Cloud&Edge(datacom)
Consumers
(high
speed)
RF(5%)
CustomASIC(31%)
Markets
SanJose,CA
Seattle,WA
Zurich
MarketLeadership:
~50%of100GbpsCoherentDrivers&
~30%of
40Gbps
AOC
Drivers
&
TIAs
6
67
10
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IndustrialCustomized
ASICs
GigOptix Markets&Solutions
Cloud&Edge
NetworksLinks
Core&Metro
NetworksLinks
ConsumerElect.
HighSpeedLinks
Drivers,TIAsfor
AOCs&
Pluggables
Drivers,TIAs&
Modulators
Drivers,TIAsfor
AOC&
Motion
/
Gesture Tracking
HighSpeedendtoendsolutionsviaHighSpeedlinks
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CoreTechnologyLeverage
Driver
DEMUXPD
TIA
MUX
Laser
ModulatorDriver
DEMUXPD
TIA
MUX
Laser
ModulatorDriver
DEMUXPD
TIA
MUXLaser
Drivers,TIAs
40Km
UniversalSolutions
For
All
Optical
Links:
All
Distances
and
Speeds;ResolveKeyChallengesOfTheMarket: Price,Power,
Performance,FormFactorCapacity,AgilityAndRobustness
Cloud&Edge
NetworksLinks
Core&Metro
Networkslinks
ConsumerElect.
HighSpeedLinks
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MetroReach
Core&MetroLinks:100Gbps400GbpsCoherent
CoreNetwork Mobile Access/Data
Center
Todayssolution:transceivers Tomorrow:smallFFintegration
CFP CFP2 CFP4
GIGTFPSModulator
GIGDriver
GIGTIA
Source:OVUM
Report
+GigOptix
Management
GigOptixDifferentiation:
TIAs
&
Drivers
for
all
speeds
&
formats
Leadingpositionin100GCoherent
GigOptixRevenue 2013:$13M(mgmt.est.) Launchedin2007
MarketForecast 2013:ICsTAM:~$100M 22%CAGR(201316)
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MetroReach
Cloud&EdgeLinks:40Gbps&100GbpsParallel
Mobile Access/Data
Center
Parallelopticslinksfor4and12channels of10,16and28Gbps
Source:Light
Counting
Report
+GigOptix
Management
GigOptixRevenue 2013:$5M(mgmt.est.) Launchedin2009
MarketForecast 2013:ICsTAM:~$100M 45%CAGR(201316)
GigOptixDifferentiation:
Sole
parallel
device
merchant
supplier
TIAs&DriversforFDR,EDR,QSFPSR&LR
TIAIC
PINVDIC
VD IC
TIAIC
VCSEL
VCSEL
Array
PD
Array
Lens
Array
Lens
Array
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GigOptixComponentsPoweringFastGrowingHighSpeedConsumerOpticalLinkApplications
4K/8KTVsconnectivity Embeddedactiveopticalcables(eAOCs) Gesturerecognitionandmotiontracking 2D/3Dresolution
ConsumerElectronics:HighSpeedOpticalLinks
Source:Light
Counting
Report
+GigOptix
Management
GigOptixDifferentiation:
Leveraging
the
Access
mature
technology
DevicesinAOCs,EAOCsandBackplanes
2013 2014 2015
$64M
$126M
$32M
$16M
GigOptixRevenue 2013:$1M(mgmt.est.) Launchedin2013
MarketForecast 2013:ICsTAM:~$2.5M 170%CAGR(201316)
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MetroReach
RFBackhaulPointtoPointWireless
CoreNetwork Mobile Access/Data
Center
EBandBackhaulPointtoPointWirelessWithLeadingIntegrationAndArchitecturePoweredByGigOptixChipsets
Source:Gartner,
Inc.
+GigOptix
Management
GigOptixRevenue 2013:$1M(mgmt.est.) Launchedin2013
MarketForecast 2013:ICsTAM:~$2.0M 120%CAGR(201316)
GigOptixDifferentiation:
2chip
solution
for
Eband
PtPbackhaul
Bestoutputpowerperformance
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GigOptixASICsProvideHighValueandCostEfficientCustomizedSolutionsforFPGAandASICConversions
CustomASIC:Industrial&Mil/Aero
PHY PHY PHY
StandardCellStructuredASIC CustomStructured
ASIC
Configurable
LogicCells
Configurable
MemoryBlocks
Standard
Cell
Configurable
LogicCells
Configurable
I/OCells
GigOptixRevenue 2013:$9M(mgmt.est.) Launchedin2010
MarketForecast 2013:ICsTAM:~$100M 5%CAGR(201316)
GigOptixDifferentiation:
Provider
Custom
Structured
ASICs
SupportingFPGAandASICconversion
Source:Gartner,
Inc.
+GigOptix
Management
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KeyCustomerRelationships
OPTICAL INDUSTRIAL
RF
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MultipleGrowthCatalysts Telecom
Leadingsupplierof100GbpsCoherentdevicesforCore longhaulnow,expandsinto MetroinCY2014
LeadingdeveloperofEBandwireless BackhaulpointtopointMMICsfor high
speed
last
mile
connectivity
for
deployment
in 2014
Datacom
SoleRFdevicemerchantsupplierforActiveOpticalCablesandPluggables >10Gbpsdatacenterfiber installations
Leadingsupplier
in
High
Speed
Optical
Links
for
Edge &
Cloud
ConsumerElectronics
HighSpeedOpticalLinksin CEdeploymentlate2013andshowrapidgrowthinto2014
Game
changing
RF
amplifiers
for
gesture
&
motion
tracking
technology
rampin2014withmajorOEMsofsmartphones,tabletsand
interactiveTVs
CustomASICapplicationsrevenuetoincreasein2014,as morefoundriesendoflifethe0.25umand0.35umlines
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IntellectualProperty
113Patents
13Patent
Applications
Highspeedintegratedcircuits
StandardcellsandstructuredASICarchitectures
HighspeedmodulatorusingThinFilmPolymeronSilicon
(TFPS)
technology
RFmmwavecircuits
RFcommunicationsystems
IP
Protection
Telecom:
ReachedglobalsettlementinlitigationagainstM/ACominSeptember2013Received$7.25M
Datacom:
SolidIPpositionaslargestindependentsupplierofchipsetsforhighspeedopticalinterconnects
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ExecutiveTeam
Dr.AviKatz Founder,Chairman &CEO
Dr.RalucaDinu VP&GMHighSpeedComm.
AndreaBettiBerutto Founder,SVP&CTO
CurtSacks SVP&CFO
SteveChoate VPofOperations
AnilChaudhry VP&GMIndustrial
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RecentFinancialHighlights
Q3FY2013
IncreasedRevs7%sequentially NonGAAPGMof62%;4th consecutiveQ >60% StrongBalanceSheet*
Cashand
equiv
of
$15.3M
CurrentRatioof2.0 NoLongTermDebt
*AsofSeptember29,2013
Q4FY2013Outlook&
Recent
Activities
Preliminaryrevenueof~$7.8M;up~7%Q/Q Aboveguidanceofup5%Q/Q
Raised~$12.6Mnetthroughcommonstock
offering NonGAAPexpensesexpectedtodecline~$0.5M AdjustedEBITDAexpectedtoincrease
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TrendedRevenuebyProductLines
$Millions Q4'12 Q1'13 Q2'13 Q3'13 Q413G
HighSpeedCommunications $4.2 $4.6 $4.5 $5.2 ~$5.5
A. Optics $3.5 $4.4 $4.1 $4.9
B. RF $0.7 $0.2 $0.4 $0.3
Industrial (ASIC) $2.8 $2.3 $2.3 $2.1 ~$2.3
Government $0.9 $0.0 $0.0 $0.0
TotalRevenue $7.9* $6.9 $6.8 $7.3 ~$7.8#
PercentofTotalRevenue Q4'12 Q1'13 Q2'13 Q3'13 Q4'13G
HighSpeedCommunications 53% 67% 67% 71% ~70%
A. Optics 44% 64% 61% 66%
B. RF 9% 3% 6% 5%
Industrial (ASIC) 36% 33% 33% 29% ~30%
Government 11%* 0% 0% 0% 0%
*Included $0.9M of previously unrecognized government contract revenue # Preliminary revenue guidance provided January 14, 2014
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FinancialModel(NonGAAP)
$Millions FY2011 FY2012 YTD2013
(1Q3Q)
LongTerm
Model*
Revenue
Annual Growth Rate
100% 100% 100% 100%
10%30%
GrossProfit 55% 56% 64% 55%60%
Research& Development 35% 32% 42% 25%
Selling, General&Admin 25% 22% 22% 15%
Total OperatingExpense 60% 54% 67% 40%
OperatingIncome 6% 1% 3% 15%20%
*Companys internal goal based on a 3-5 year timeline. Provided for discussion purposes only, and the Company provides no guarantee of
achievement of these goals, nor commits to update this information. The Companys ability to achieve this long-term model is subject to
risks and uncertainties.
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BalanceSheet&Capitalization
Cash&Equivalents** $15.3
Accounts Receivable $7.1
Inventory $4.6
OtherCurrentAssets $0.4
Total CurrentAssets $27.4
Longterm Assets $17.1
TotalAssets $44.5
CurrentLiabilities $13.9
Long
term Liabilities $0.8TotalLiabilities $14.7
Total Equity $29.8
Total Liabilities&Equity $44.5
BalanceSheet9/29/13(Millions) CapTableHighlights(asof1/8/14)
CommonStockOutstanding 31.3M
Stock Price $1.73
MarketCap ~$54M
OptionsOutstanding 10.3M
WeightedExercise Price $2.34
RSUsOutstanding 1.5M
WarrantsOutstanding 1.7M
**Net cash as of Sept. 29, 2013 was $9.3M, whichexcluded $6.0M borrowed on the line of credit
**Does not include net proceeds of ~$12.6M fromDecember 2013 stock offering
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2014 GigOptix, Inc. All Rights Reserved
Thankyou
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