Expanded TCAD and digital twin modeling platform to planar CMOS, FinFET and advanced CMOS technologies Signed 14 new customers as well as expanded our relationship with several existing customers across key markets including power, automotive, memory, foundry, and display. In the first week of Q4, received a $5.0 million follow-on order for FTCO™ digital-twin modeling product from a strategic memory customer
silvaco.com, Nov. 12, 2024 –
SANTA CLARA, Calif., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Silvaco Group, Inc. (Nasdaq: SVCO) ("Silvaco" or the "Company"), a provider of TCAD, EDA software, and SIP solutions that enable innovative semiconductor design and digital twin modeling through AI software and automation, today announced its third quarter 2024 results.
"Our strategic focus on driving innovation through AI-enabled semiconductor design for advanced CMOS geometries and power semiconductors, which includes digital twin modeling, positions us well for long-term growth" said Dr. Babak Taheri, Silvaco's Chief Executive Officer. Dr. Taheri continued "We believe our strong business fundamentals and innovative product lines will continue to drive our customer momentum and growth trajectory."
Commenting on the financial results and outlook, Ryan Benton, Silvaco's Chief Financial Officer, added, "While Q3 revenues were impacted by the shift of a substantial $5.0 million order received in the first week of Q4, we remain confident in our ability to achieve our revised full-year financial targets due to strong customer demand. We expect to regain momentum and execute on our long-term strategy by expanding our footprint across the key end markets as well as executing on the right strategic inorganic opportunities."
Business Highlights
In the first week of Q4, received a $5.0 million follow-on order for FTCO™ digital-twin modeling product from a strategic memory customer. This order extends the footprint of our FTCO™ product line and further validates our strategic focus on this unique technology.