Shipment Milestone of 5 Million Automotive ASICs

EnSilica, a leading chip designer of mixed signal ASICs (Application Specific Integrated Circuits), is pleased to announce that it has now shipped five million ASICs for use in the chassis control unit of a leading automotive company's premium vehicle, a key delivery milestone for the Company.

The ASIC design and supply contract was first secured in 2018 for use in the premium automotive manufacturer's flagship vehicle model launched in June 2022 (as announced by EnSilica on 21 June 2022). The ASIC has since been included in additional models (as announced on 22 May 2023) which will commence production in 2025, and will be a key component of the manufacturer's new range of electrical vehicles. The estimated revenue from the supply of this ASIC is anticipated to be approximately $40 million over a 6-year lifetime.

The ASIC delivers key differentiating features in the chassis control of the vehicle and meets the most demanding automotive functional safety and qualification standard. There are multiple EnSilica ASICs per vehicle.

Ian Lankshear, Chief Executive Officer of EnSilica, commented:

"Shipping five million automotive ASICs for a demanding automotive application is a significant milestone for EnSilica. Not only does this demonstrate that our design and supply chain capabilities are truly world-class, but it's also a prime example of the trusted long-term customer relationships that EnSilica continues to develop due to the quality of our people, products and services.

We announced last year that the ASIC is forecast by the customer to deliver higher volumes than initially estimated when the contract was awarded in 2018 and therefore the real benefit of these additional volumes is still to come and will be seen in 2025 when the new car models are released.

This is a great example of how the fabless business model provides long-term visibility of recurring revenues, and, with the ASIC being used in the manufacturer's new electric vehicles range, also highlights the critical role ASICs and therefore EnSilica will continue to play in the global energy transition."