Silvaco Reports Third Quarter 2024 Financial Results

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Expanded TCAD and digital twin modeling platform to planar CMOS, FinFET and advanced CMOS technologies

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

• Acquired 14 new customers representing 14% of bookings and 11% of revenue for Q3.
• Expanded Victory TCAD and Digital Twin Modeling Platform to Planar CMOS, FinFET and advanced CMOS technologies. Newly released TCAD platform has been utilized by a strategic customer for the past few years and is now available for broad market adoption.
• Appointed Candace Jackson as SVP, General Counsel and Corporate Secretary.
• Silvaco was added to the Russell 2000®, Russell 3000®, and Russell Microcap® indexes in September 2024.
• Achieved ISO9001 Certification of our TCAD, EDA, and IP Products in October 2024.

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.

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