The annual revenue of 2021 hit record high of US$29.3 million with over 40% growth
The monthly revenue in December also reached historic high 
Annual SoC shipments exceeded 3 billion in 2021 at an annual growth rate of 50%

HSINCHU, TAIWAN – March 8, 2022 – Andes Technology (TWSE: 6533; SIN: US03420C2089; ISIN: US03420C1099), a leading supplier of high efficiency, low-power 32/64-bit RISC-V processor cores, announced a remarkable record of 3 billion annual SoC shipments containing its CPU IPs in 2021 at an annual growth rate over 50%. Since inception, cumulative shipments have surpassed 10 billion. Applications of SoC in which Andes CPU IPs are embedded include established and emerging fields, such as 5G, AI/ML accelerators, Bluetooth and Wi-Fi devices, cloud computing, data centers, gaming, GPS, IoT, MCU, sensor fusion, touch and display controllers, storage, voice recognition, wireless communication, automotive electronics and more. Andes’ compact, modular and extensible RISC-V processors will boost the next wave of growth of customers’ chips.

Andes has achieved sustainable growth of revenue since the company went public in 2017. The monthly revenue in December hit all-time high, and the annual revenue in 2021 surged by more than 40% year-over-year, reaching a record high of US$29.3 million (NT$ 819 million). Andes’ continuous growth and potential in RISC-V has also been recognized by international institutional investors. In September 2021, Andes issued GDR to be listed on Luxembourg Stock Exchange. The fund allows Andes to boost medium-term and long-term capital investment in R&D and strengthen its existing leading RISC-V product portfolio as well as speed up the development of new high-value and high-performance product lines. Moreover, it accelerates the expansion of product design centers in Taiwan, the United States and Canada by recruiting more R&D talents to develop the next-generation RISC-V products.

Based on years of experience and know-hows, Andes has developed processors with high efficiency, low-power and high-quality and related hardware/software integrated solutions, which are widely adopted by IC design companies around the world, including MediaTek, Renesas Electronics, SK Telecom, Novatek, Phison, Himax, EdgeQ, Telink and many others. For example, Andes’ industry-leading NX27V vector processor, winner of “Hsinchu Science Park Innovative Product Award” and “Best EDA & IP of the Year” of EE Awards Asia from EE Times, has been adopted by customers in nearly 10 projects of cloud accelerators with many-core architecture. 

“The annual shipment of SoCs embedded with Andes CPU IPs reached 590 million in 2017 and surpassed 3 billion units in 2021 with an impressive CAGR of 50% over the five years. What’s more remarkable is that while 1% of Andes-embedded SoCs shipped are based on RISC-V, 99% are contributed by Andes processors of the third-generation architecture (V3) over the years. This shows the recognition from our customers, ecosystem partners and end users,” said Frankwell Lin, Chairman and CEO of Andes Technology and Board Director of RISC-V International. “It takes considerable time to get a SoC ready for mass production after licensing. Considering the rapid growth of Andes’ RISC-V license agreements in the past 3-4 years, we believe the shipment of Andes-embedded SoCs is steadily on the rise and associated royalties will account for a significant proportion of total revenue. Furthermore, Andes will host its first contest of RISC-V applications targeting outstanding students to encourage development of innovative RISC-V applications as well as foster talents in academia.” 

“In addition to delivering outstanding products, Andes also strives to help expand RISC-V ecosystem and joins forces with many world-leading companies. Recently, Jonah McLeod, our Marketing Director, stepped up as Chair of Marketing Committee of RISC-V International to lead its members around the world to promote RISC-V,” said Dr. Charlie Su, President and CTO of Andes Technology. “This year, we are officially entering the automotive market. The development process of automotive products requires compliance to automotive grade standards. Andes’ development flow has already been certified by SGS-TÜV Saar to be compliant to the requirements of ISO 26262 standards and criteria for Automotive Safety Integrity Level (ASIL) D at the end of 2020. Our first automotive processor IP will be available for general licensing by the first half of this year.”

Besides automotive electronics, Andes has launched powerful high-end RISC-V processor cores perfect for trending applications such as metaverse, AI, AR/VR, computer vision, encryption, multimedia, storage and 5G. Andes will continue to deliver processor cores which are flexible with high performance efficiency and low power consumption bolstered with comprehensive software development environment, compute libraries, AI compiler support and open security framework. With wide range of product lines and the custom instruction tool, Andes can cater to customers’ needs of standard products or customized processors and help them build competitive solutions for specific fields.

About Andes Technology
Seventeen years in business and a Founding Premier member of RISC-V International, Andes Technology (TWSE: 6533; SIN: US03420C2089; ISIN: US03420C1099) is a leading supplier of high-performance/low-power 32/64-bit embedded processor IP solutions, and the driving force in taking RISC-V mainstream. Andes’ fifth-generation AndeStar™ architecture adopted the RISC-V as the base. Its V5 RISC-V CPU families range from tiny 32-bit cores to advanced 64-bit cores with DSP, FPU, Vector, Linux, superscalar, and/or multicore capabilities. The annual volume of Andes-Embedded SoCs has exceeded 3 billion since 2021 and continues to rise. The cumulative volume of Andes-Embedded™ SoCs has reached 10 billion by the end of 2021. For more information, please visit https://www.andestech.com. 

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