Lattice Semiconductor Corporation (LSCC) Earnings Call Transcript & Summary

Ladies and gentlemen, please welcome to the stage, Lattice President and CEO, Jim Anderson.

All right. Thank you, and welcome. Welcome, everybody. We're really happy to have you here to celebrate with us the launch of Lattice's newest FPGA platform. And I think in a pretty cool venue as well, the computer history museum here in Mountain View, so thanks, everybody, for being with us here today, those of you that are here with us in person but also on the webcast as well. Thank you. Now next year, Lattice will celebrate its 40th anniversary. And I think if you look back over those 40 years, you see a long history of innovation that we brought to market, innovation for our customers, innovation around flexible and adaptable devices, but especially for Lattice, innovation around power efficiency, small physical form factor size and definitely ease of use as well. And we're really proud of that innovation over the past 40 years. But I think what you'll see today is Lattice's biggest leap forward in its history in terms of not just our innovation, but the expansion of our product portfolio. And we're really happy to share that with you today. So it was only 3 years ago that we launched the Lattice Nexus platform. I can't believe it's already been 3 years, but when we launched Nexus, that was really a complete rebuild of our FPGA architecture. And I want to spend just a few minutes talking about some of the progress that we made with Nexus because it really does form the foundation for us for Avant. So when we brought Nexus to market, we brought a lot of innovation and definitely a lot of competitive differentiation to the marketplace. And so for all of the customers that have adopted Nexus over the past few years, and we're really pleased with the adoption, definitely, our customers have seen certainly the competitive differentiation that we brought to market. So much, much better power efficiency than our competition, much better performance and just kind of like amazingly small physical form factor size. So we're really pleased with that innovation and certainly helped our customers drive innovation. And we didn't bring out just 1 version of Nexus. We brought out a steady beat rate of innovation to the marketplace, a steady beat rate of new Nexus devices. Each Nexus device, little bit different in terms of the innovation that they were bringing to the market, but a steady stream of innovation for our customers. And we are absolutely not done with Nexus. You can count on us to continue to bring new FPGAs to the small FPGA part of the market, new Nexus devices that we've got planned over the coming quarters. So we've certainly been innovating at the silicon level, but definitely also innovating at the software level. So this is a big focus for us at Lattice. Our software strategy is all around making it very, very easy for our customers to adopt Lattice solutions and get to market quickly. We want customers to be able to easily take advantage of all that great innovation that we've got in the silicon. And so for example, we brought out 5 application-specific solution stacks over the past few years to again, make it really easy for our customers to adopt our silicon. Those 5 solution stacks focused around common usage models and applications that our customers see across multiple different markets. And here again, you can count on us to continue to innovate at the software level as well, we'll continue to bring new software packages over the coming quarters as well. Now the combination of that silicon innovation and the software innovation that has really driven Nexus adoption very quickly over the past few years. We're really pleased with the adoption we've seen across all of our markets. So you would find Nexus devices now in things like communication systems, both wired and wireline and wireless applications, servers that go into data centers all over the world, lots of different industrial applications, industrial automation, industrial robotics, and then automotive electronics as well. And that combination of growth that we've seen in Nexus, but also pre-Nexus devices, that's helped Lattice grow very quickly over the past few years. But the important thing for customers is that has allowed us to really expand our innovation pipeline and expand our product portfolio. So when we introduced customers to Nexus a few years ago, we got really good feedback on the power efficiency, the architecture, the features, et cetera. But we did get a common question from a lot of different customers. And actually, a lot of the customers that asked us this question are here in the audience today. And that was, hey, can you take that same power-efficient architecture of Nexus? And can you scale that up into higher capacity points, higher FPGA capacity? And so I think when we look back on why were customers asking us that, first of all, they were seeing Lattice innovate in small FPGAs. But when they looked at the industry, they didn't see a lot of innovation in mid-range FPGAs. And so a lot of customers asking us to scale up the architecture. And that's exactly what we did. So today, by customer request, very, very proud to announce and introduce Lattice Avant, the new Avant platform. Thank you. Yes, this is a big step forward for Lattice and the company. Just tremendous expansion of our product portfolio capabilities, but also a lot of innovation and differentiation that we're bringing to our customers. And I want to thank the customers that encouraged us to develop Avant and also guided us along the way, a lot of innovation and differentiation. So it's a big step forward for the company, the introduction of Avant. And Steve is going to come up in a few more minutes, and he's going to talk about all the innovation that we packed into the Avant platform. But I want to give you just a little bit of a sense of what a step forward it is for our road map. If you compare Avant to Nexus, you'll see 5x more capacity. So that's 5x more logic cells for all of our customers to innovate with. You'll see 10x more bandwidth. So 10x more bandwidth to feed all those logic cells. And then when you combine the higher capacity and the higher bandwidth with all the other innovation that Steve and the team have packed into Avant, you see about 30x better performance. So 30x more performance on things like artificial intelligence processing, edge computing applications, lots of other applications as well. But what does that mean for our customers? Because actually, at the end of the day, that's what's really important to us. What does it mean for customers? And for customers, what it means is we've delivered a tremendous amount of innovation and differentiation, and we'll see a lot more data on this a little later in the presentation, but a significant competitive differentiation. So if you look at, for instance, power efficiency, Avant, up to 2.5x better power efficiency than our competition. So that's not just like 10% or 20%. That's 2.5x. And that's important for our customers because if you ask our customers a lot of times, the primary design constraint of the system is around total system powering. So when we're able to bring a solution that's 2.5x better power efficiency, that's a big win for our customers. Now not just better power efficiency, but better performance as well. For instance, 2x better bandwidth. And then I think really amazingly packing all the innovation into a device that's up to 6x smaller than our competition. I mean 6x. So a lot of innovation we're bringing to customers. Now when you look at the combination of Nexus and Avant together, I think what you see now is absolutely the strongest product platform -- product portfolio that Lattice has ever had in its history. And Avant not just doubles the addressable market, it doubles the number of applications that we can support for our customers. And just like Nexus, we will bring out a steady stream of innovative Avant devices to market. So you can count on us to bring out steady beat rate of new Avant devices based on the Avant architecture. Now today, we'll talk mostly about the platform, and we'll introduce the first device family member, but a steady stream of innovation that we've got planned. Now software has always been, actually since day 1, and Steve will say the same thing, since day 1, software has been at the top of our mind because we want the software to make it very easy for our customers to adopt Avant. For instance, existing customers are already using Nexus to be able to easily expand to Avant. So all of that same software that customers already know and love on Nexus, they can leverage on to Avant as well. So same development environment, and those 5 software stacks I talked about earlier can be leveraged on to Avant as well. So I think that's really set us up very well for rapid adoption of Avant that we're really excited about. And actually, if you look at the level of customer engagement and momentum right now on Avant, it far exceeds what we saw at the time of Nexus when we launched Nexus a few years ago. So really happy about the engagement and momentum that we're seeing across the customer base across all these key applications. So with that, I'm going to ask Steve Douglass to come up on stage. Steve is our Head of R&D, and he's going to talk more about all the great innovation that we packed into Avant. Steve?

Thank you. Thanks, Jim, and welcome, everyone. It's so great to have all of you here on this very special day, especially all of our customers and partners who have been with us on the journey to date. Today is the day that we introduce Avant, our groundbreaking platform for mid-range FPGAs. And Jim just shared with you just a few of the high-level capabilities that we are enabling with Avant. And I'm going to share with you the technology innovations behind those capabilities and more that make Avant truly a breakthrough in FPGA technology for Lattice as well as for the industry. Now when we set out to build Avant, we have 1 key mission in mind. And that was to provide our customers with a platform that have the features, the capability, and the performance for them to build their next-generation designs. Let's take a closer look at some of those innovations and how they're enabling our customers to achieve those higher-level system goals. Now when we defined Avant, we talked to hundreds of customers. Many of you are here in the room today or on the webcast. And I just want to say thank you very much for sharing with us your challenges that you were facing in your next-generation design because it was those insights that inspired us to identify dozens of innovations that we can design into Avant to help you solve those challenges. Today, I'm going to talk about a few of the innovations in 3 key areas that we think are the most ubiquitous value-add for our customers across all markets: power efficiency; system bandwidth and connectivity; and advanced levels of computation. Let's first take a look at our innovations in power efficiency. Now Avant was built on TSMC's 16-nanometer FinFET technology. And for us, that was the right process for us to build a power-efficient platform and to achieve all the performance and future goals that we had set out. And when we went about designing Avant from the ground up, we had power efficiency top of mind in every single block, every single subsystem that we built into Avant. Specifically and starting with the programmable fabric. That's the core of the FPGA architecture. That's where we had the greatest leverage. So when we designed the programmable fabric for Avant, we built it out of 4 input lookup tables, which are very power efficient and a power optimized routing architecture. These innovations, combined with several others, allowed us to produce the most power-efficient FPGA fabric we've ever built in the history of the company. And Avant fabric only consumes 10 microwatts per logic cell even when it's running at 350-megahertz performance. That is breakthrough, a groundbreaking power efficiency. And we also paid very special attention to the power consumption in the IO because as we all know, the IO power consumption is a primary component of the overall total power in an FPGA design. And we have many innovations that we've built into the parallel and the Serial IO on Avant to help us deliver the most power-efficient IO in the industry as low as 4 picojoules per bit, even when operating at the breakneck performances I'm going to talk about shortly. So -- and we also built in a dedicated logic to implement some of the most common protocols. This helps lower the overall system power for a given application. Now that I've shared with you some of our groundbreaking innovations in power efficiency, I'd like to tell you about some of our innovations in advanced connectivity. In today's system designs, one of the biggest challenges, one of the bottlenecks for system performance is getting all the data onto and off the chip in a timely fashion. And connectivity between devices, transmitting data between devices in the system oftentimes has to be done with a very specific protocol. To help customers tackle these particular challenges in connectivity, we have designed on Avant, a very high-speed SERDES that runs up to 25 gigabit per second. And we have up to 28 of these SERDES on a given device for a total serial bandwidth of 700 gigabits per second. That's 10x greater than anything we've ever delivered in a prior platform. That is breakthrough serial bandwidth connectivity. And each one of these SERDES can be configured into over a dozen different serial protocols that are used in a whole variety of different applications, from wired and wireless communications to compute, from industrial to automotive. So not only are we providing much higher levels of system bandwidth, we're providing the flexibility in connectivity as well. Now one of the most popular serial interfaces in the industry today is PCI Express. So to help customers build efficient PCIe interfaces, we have dedicated controllers that implement PCIe up to Gen 4 performance and have up to 8 lanes of connection. Now today's systems also need very high bandwidth, high performance, low-latency interfaces to external memory. You got to feed the beast. You got to keep pouring data into the device to keep the system-level performance going. In order to facilitate customers building these high-speed interfaces to external memory, we have very high-performance IO and dedicated logic for building high-speed connections to external memory, a variety of different types of DDR memory, including the very popular low-power DDR4 and DDR5. And Avant also has a higher voltage IO that goes up to 3.3 volt because oftentimes, customers need to connect to legacy devices that don't have the advantages and can leverage the interfaces and the capabilities of our series and high-performance IO. So these combined are giving us the flexibility to our customers to build the systems that they need with the highest level of bandwidth possible. Now let's look at some of our innovations. In the third area of innovation focus for us, and that was significantly increasing the computational capabilities with Avant. In today's systems, not only do you need significantly more bandwidth in the IO to get data on and off the chip, you need a lot more compute power to process that data once it gets inside the device. And system designers today are struggling to achieve their system performance goals. A lot of times, they have to take functions and algorithms that were traditionally running in software and port them to hardware so they get that higher level of system performance. This all adds to the level of computation performance that they need and look for in an FPGA. Now to deliver these higher levels of compute performance, we have a lot of innovations that we're delivering to customers with Avant. Jim already mentioned, we have 5x the logic capacity of any other platform that we built to date. And that's in a fabric that runs 50% faster than prior generations. That's a significant leap forward in compute capability. And we've embedded enhanced DSPs and embedded memory that are specifically tuned for implementing edge compute hardware acceleration engines, especially for AI inferencing. These particular blocks, the memory and the DSP, are interweaved with the programmable logic in the fabric of the FPGA, and they are very tightly coupled for very high performance. And every 1 of these 3 compute elements, not just in logic, but the DSP and the memory, they're all configurable. So system engineers can build a hardware accelerator that's specifically tune towards the needs of their particular application. And if their algorithm changes with time, which is very common today with AI inferencing algorithms, they can just reprogram and reconfigure the FPGA to achieve that higher level of performance. All these innovations, plus several more, allow us to deliver to our customers 5 TeraOPs per second of operation. That's 30x more compute power than we had in our previous generation. This is a huge leap forward in performance capability. Now Avant delivers not just higher levels of compute but secure compute as well. We all know that cyber attacks are on the rise. Everything is getting hacked, from the servers and the data center to Internet-enabled infrastructure and automobiles. And hardware security is top of mind for our customers across all markets. And so to help them address these security threats, the Lattice Avant architecture has a very powerful hardware security engine with advanced cryptographic algorithms. And this hardware engine not only protects the hardware IP that they program into our device to build their systems, it also has the ability to do real-time encryption and decryption of data as it flows through the device up to 10 gigabits per second. And as security threats advance with time, and we know they will, especially in this world of quantum computing, it's going to be just a matter of time before the threats get stronger. With the Lattice Avant's hardware security engine, you can reprogram the algorithms, you can put in stronger cryptographic algorithms to combat those extra levels of security threats. So Avant provides not only higher levels of compute and security, it also provides flexibility. So customer systems can adapt with time, both in the functionality and the security of their system. So let's take a look now at an example application of how customers might use all this advanced compute capability that we're delivering in Avant today. One of the most common applications for AI inferencing is to analyze real-time objects that are moving in a video stream that is coming from an embedded camera. In this particular demo, we have a lot of different vehicles and automobiles that are traveling in a variety of different traffic conditions. And there's an AI engine programmed into an Avant device, and that algorithm is programmed to identify each of the vehicles and track their movement within the field of view. Let's see how well Avant can keep pace with traffic that's operating in a variety of different conditions. In this first video clip which is a downtown city scape, there are a lot of different cars and buses of various sizes and shapes, and the Avant engine can very easily identify each object with a green box and track its movement in the field of view. In the second video clip, it's much harsher conditions. Cars are moving much faster than an oncoming fashion, but the Avant engine can keep pace with all the vehicles on the road. Now in this third video clip, there's some crazy driver in the fast lane driving insanely fast, breakneck speed, passing every car on the road. And still, even under this challenging condition, the Avant AI engine can keep pace and keep track of all the cars in the field of view. Now rumor has it at that last video clip, it came from the dashboard cam of our CEO, Jim Anderson, who has a penchant for driving fast cars, but that's just a rumor. You didn't hear that from me. So that's just one example of how customers can use the advanced compute capability that we're delivering today in Avant. And that's just an overview, a summary of all the hardware innovations that we're delivering to our customers, so they can build their next-generation systems that are much more powerful and capable with higher performance more features than ever before. And as Jim mentioned, Avant will leverage our entire portfolio of software development tools and application-specific solution stacks. And we have delivered many new software innovations to allow customers to be very productive as they're designing their next-generation systems with our software tools. For example, our Radiant FPGA design tool flow has been totally revamped from the front end with the synthesis in place and route algorithms, all the way to the timing engine at the end to analyze the performance of the system. These improvements and enhancements to the entire flow allow our customers to build and compile their designs 8x faster than prior versions of the tool. That's going to be a huge step forward in productivity for our customers as they go about designing more capable systems with the Avant architecture. And Avant will leverage all the solution stacks. In fact, that demo that I showed with the AI engine running on Avant, that AI engine was built with Lattice sensAI AI. So we're very excited not only about all the hardware solutions, but the software innovations that we're delivering to our customers today with Avant. Avant, in summary, is our groundbreaking platform for midrange FPGAs, it's been built from the ground up for best-in-class power efficiency, system performance and flexibility. We are very excited to be giving this very powerful and capable platform to our customers because it's going to unleash a whole new level of innovation and creativity as they go about designing their next-generation systems. We're just -- I can't wait to see the exciting things that you are all going to do with Avant. So with that, I'd like to introduce Esam Elashmawi, our Chief Strategy and Marketing Officer, who will tell you about what some of our customers are seeing about Avant and show you how it stacks up competitively. Thank you.

Thank you, Steve. Wow. Thanks, Steve. I'd also want to thank the Lattice development team, just a consistent pace of innovation over the last few years. But I also want to thank you, our customers. Those of you that are here, on the webcast and have worked with us in defining the next-generation FPGA road map. And I remember at the end of 2019, after we launched the Nexus platform with this power efficient architecture, you asked us to take that power efficient architecture to the midrange. And I remember meeting not just at Lattice facilities, but your facilities as well across the globe. We met -- we met with your development engineers. We met with your system architects, and we had a lot of deep conversations and collaboration. And even though the entire world moved to a virtual platform, those conversations continued. And what was evident from those conversations was your need to innovate, get to market faster and differentiate in your own products out in the market. And as we continue the conversations, it was clear that a flexible programmable FPGA built on a power-efficient architecture that met your performance and application needs in the smallest form factor helped you innovate, get to market and to differentiate in your own products. And as we dug deeper and deeper, we recognize the importance of that power-efficient architecture. And I remember a lot of the stories you shared with us about how important that was in each of your end markets. It didn't matter if it was in a data center, communications network or infrastructure and industrial application or even an automotive application, that power efficiency helped you quite a bit. And I remember the stories you shared with us when we were there, and we asked the questions. And you shared to us as an example, just around factory automation and productivity and cost of ownership, which are key attributes of the modern factory. And we asked the questions, and you shared with us even autonomous robots or portable battery-operated equipment. Every time they had to go recharge, that's a productivity tool that's not in use. And then we asked you the question, what about industrial payment that's plugged to the power source. And you smiled and shared with us and said, "Hey, Esam, remember, fuel prices are going up, energy costs are increasing. Doesn't matter if it's even plugged to the power source, we need that power efficiency." And then you took us into your labs, and I remember your development engineers showing us the challenges they have to deal with when it comes to thermal constraints. You showed us the heat sinks, you showed us the fans you had to deal with. You showed us how you had to recalculate the long-term reliability of your systems because of these thermal challenges. And with the innovation that Steve talked about around power efficiency, we're delivering now a power-efficient platform that's 2.5x lower than the competitive devices you'd have to select it. And that's significant. That's 2.5x lower power to help you innovate, differentiate and help your design challenges that you have to deal with. But that was an example around factory automation, productivity and cost of ownership. And what I'd like to do now is for you to hear directly from experts in this area. From Rockwell Automation, I'd like you to hear from the Senior Vice President of Intelligent Devices, Tessa Myers.

Hi. My name is Tessa Myers, and I am the Senior Vice President of Intelligent Devices at Rockwell Automation. At Rockwell Automation, we deploy hardware and software solutions to enable industrial companies to achieve digital transformation. These solutions support the digital capture, control, communication and display of information, allowing the businesses we help to unlock the productivity of their employees while improving their operational sustainability. Increasing equipment performance is key to delivering the benefits of digital transformation. And this requires improvements in the resolution of information captured and displayed as well as faster processing and communication. We delivered this enhanced performance while simultaneously improving operating and installation costs for our customers. Lattice is known across the tech industry for its low-power and small-form factor FPGA leadership. The latest Avant platform combines these characteristics with improvements in processing and communications performance that promise to enable the next wave of innovation in our products. We look forward to collaborating with them on the deployment of this technology. From all of us at Rockwell Automation, congratulations on the launch of Lattice Avant. We look forward to jointly enabling the next wave of digital transformation in the industrial marketplace.

I want to thank Tessa and her entire development team. They've been very insightful and the collaboration we have has been very productive in defining that next-generation FPGA road map. Now this is my favorite part of a Lattice launch event. I'm actually, inside, there's this huge smile inside of me right now, because if you've been to a Lattice launch event before, you know you're going to see a live demo. And these live demos are the proof points of the competitive differentiation of the platform. And to demonstrate today live the power advantage and the benefit of the power efficient architecture of the Avant platform, I'm going to hand it over to our Senior Director of Marketing, Mr. Deepak Boppana.

Thanks, Esam. Hello, everyone. In this demonstration, we'll measure the power consumption of the Avant FPGA relative to similar class of FPGAs from other vendors. So this board here has an IFI FPGA from Intel, Kintex-7 FPGA from AMD Xilinx and the advanced FPGA from Lattice. Many of the applications for this class of FPGAs typically have frequencies in the 100 to 350 megahertz range. So as we modulate the frequencies in this range, we can see that the Lattice Avant FPGA has up to 2.5x lower power consumption than other FPGAs, simplifying thermal management and lowering operating costs. Thank you.

Thank you, Deepak. That was awesome. And we will be coming back to Deepak. Now we've established the benefit of having a power-efficient architecture and that helps our customers with their design challenges, but you also have to meet the application needs and the performance as well. And you shared with us that in every new generation of products you're developing that the need for artificial intelligence, for data transfer for compute and connectivity is increasing. And so that inspired a lot of the innovation that Steve talked about around advanced connectivity and optimized compute. And that performance need is required across all of our end markets. The demand for more performance and computation is increasing. And so with the Avant platform, we're delivering twice the bandwidth of comparable devices. And that's significant because it helps you innovate, it reduces your bill of materials and helps you differentiate your products even more. And this innovation helps in multiple types of applications. And what I'd like to do now is for you to hear from an expert when it comes to network connectivity, senior hardware engineer from Cisco, Mr. Francisco Pérez.

Hi. My name is Frankie, design engineer at Cisco Systems. I've been using Lattice solutions for the 3 years. I'm very excited with the direction that you are headed towards with your new midsized FPGA family. Power-efficient FPGA with higher performance is important to us and something we can use on our products. Congratulations to the entire Lattice team on their new product launch.

Thank you, Francisco. And as he said, performance with power is important. Now what I'd like to also do is have you here from another expert in our industry, experts in data center as well as communication infrastructure, the CEO of Accton, Mr. Edgar Masri.

Greetings from Taiwan. This is Edgar Masri, CEO of Accton Technology. For 2 decades now, Accton has been using Lattice devices, which have enhanced our products and designs. It is exciting to see the Avant product line being launched and coming with higher density and faster performance. It exactly fills our design requirement for next-generation high-speed technology. You have a unique opportunity to beat the competition that is trailing in both performance and product delivery. So thank you, Lattice. Congratulations.

Thank you, Edgar. I love his comments about the competition as well. So now it's that time again, another live demo of the benefits of the Avant platform from a performance and a bandwidth perspective. With that, I'm going to hand it back to Deepak to demonstrate.

Thanks, Esam. Hello again. In this demonstration, we'll measure the performance of the Avant FPGA in a high-speed data transfer application relative to a similar class of FPGAs from other vendors. So we have the same board here as before with the IFI FPGA, Kintex-7 FPGA and the Avant FPGA from Lattice. The SERDES channel from each of these FPGAs is connected to a board that does clock and data recovery and monitoring of the data transfer. So as we initiate the data transfer, we'll see that the Avant FPGA completes the data transfer 2x faster than other FPGAs, delivering increased bandwidth and lowering system costs. Thank you.

Thank you, Deepak. Now we've established the benefits of a power-efficient architecture as well as why it's important to meet the applications and performance needs. The other thing we've heard from you, our customers is a desire to simplify the back end and assembly process to provide you more package options, but also to help you miniaturize your systems. You shared with us your desire to have smaller form factor solutions. You showed us the cameras that you're building for industrial applications as they're getting smaller and smaller and smaller as well as those for automotive applications. You shared with us some of the fixed form factor boards you have in communications networking as well as data center applications. Yes, you're trying to put more content and compact more capabilities within those fixed form factor boards. And so with the Avant platform, what we're delivering is a form factor. This is the physical size of the device. That's 6x smaller than the comparable devices out there. That helps you with your miniaturizing challenges. It's more capable device in a much smaller physical form factor. And to talk a bit about why that's important about fixed form factors and having a much smaller form factor, I'd like you to hear directly from the Senior Vice President of R&D from NI, Kevin Schultz.

Hello. I'm Kevin Schultz, Senior Vice President of R&D for NI. For over 40 years, we've developed software-connected systems in a wide variety of industries from 5G to EV to space launch and exploration. All these products really are fixed form factor, work in harsh environments, need passive cooling. And for these reasons, Lattice has been a great partner of ours for over the years. Your Lattice has continued to drive their programmable technology to be small form factor, lower power. And we're excited to congratulate Lattice on the launch of the Avant series. This series is even going to push it further and give us opportunities to push our systems into new opportunities and solve new applications. So I want to congratulate Lattice. I want to keep working with them. They've been a great partner over the years, as I mentioned, and we're looking forward to working with them for many years to come.

Thank you, Kevin. The partnership is mutual. A lot of good collaboration with his team in inspiring that next-generation FPGA road map, not just hardware but software as well. Now earlier, Jim talked about our platform strategy and the benefit of our platform strategy allows us to get more products out to the market much faster. It improves our cadence of new device family introductions into the market. And with the Avant platform today, we're announcing the first device family of the platform, and that is the Lattice Avant-E, targeting low-power edge optimized applications with enhanced capabilities for artificial intelligence as well as data processing. And if you've been to Lattice launch events before, our definition of launch, which you should be familiar with, is mean that customers already have sample devices, they've got software in hand and evaluation boards. And today, we're opening up the sample, software, and evaluation boards to the broad market. Everybody has now access to the Avant-E. Now Avant-E is just the first device of the platform. What you can expect, we're targeting 2 additional devices in 2023 with additional devices to come in 2024 and beyond. And just as important, we're going to continue to invest and bring out additional products under the Nexus product line in 2023 with additional products to come in 2024 and beyond. So the cadence of innovation is continuing. New products device samples will come out to market. What does that mean? That means you, our customers, have a focused FPGA company that's building a solid road map of both hardware and software for FPGAs aligned to your needs. Now I want to take a moment also to recognize the ecosystem that's been developed over the past few years. When we started this journey back at the end of 2019, the ecosystem around Lattice was very modest. If you fast forward to today, that ecosystem has grown significantly. That means there are more companies out there today building IP specifically for Lattice devices. There are more companies out there today building their platforms based on Lattice hardware and software solutions. And there are more developers out there today building systems, leveraging our hardware and software solutions to help you get to market faster as well. And I want to thank them for their contributions in helping us define what is the strongest product portfolio we have, but also the road map that's ahead of us as well. And with that, what I'd like to do is for you to hear a few more comments of some of the customers that have engaged with us, decision makers and hardware engineers and their comments related to the launch of the Avant platform. [Presentation]

Once again, I want to thank all of you for your collaboration and for being with us here today, and I really look forward to seeing the innovative products that you're going to bring out to the market. And with that, I'm going to hand it back to our President and CEO, Jim Anderson.

All right. Thank you, Steve and Esam, but special thanks to Deepak and the demo team because I totally agree with Esam, the competitive demos are definitely my favorite part as well. Thank you, Deepak and the team. But I also need to say thank you also to all the customers that sent in those great video messages. We had some really, really nice video comments. And we were only able to share just a few of the videos in that last clip but thank you to all the customers for the great support. So hopefully, you have a sense by now of why we are super excited to have silicon in the hands of customers now and really excited to deliver Avant to the marketplace. It's a big step forward for us in terms of a huge product line expansion. But more importantly, a lot of innovation and differentiation that we're delivering to our customers. 2.5x better power efficiency, twice the bandwidth and up to 6x smaller form factor. That's pretty amazing. So really pleased to finally get that to our customers. Now one more announcement before we wrap up, and that is related to some of what Esam was just talking about. He talked about how the ecosystem has really been growing around Lattice. So I'm really proud to announce today that we're going to have our first-ever developer conference in the second half of next year. With the growth in our product portfolio, but the growing ecosystem around lattice products, I think it's just the perfect time to kick off a developer conference. So second half of next year, mark your calendars, more details to come. Would love to see everybody that's here today join us next year. So with that, I want to say thank you one more time to Steve and the development team for executing on time. Thank you, Steve, really appreciate that. But more importantly, thank you to all the customers that helped encourage us to develop Avant, but then guided us along the way. Thanks, everybody. Have a great day. Thank you.