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It’s official: Weebit Nano has achieved its first dollar of revenue!

  • In News
  • November 6, 2023
  • Alinda Gupta
It’s official: Weebit Nano has achieved its first dollar of revenue!

This is no wee bit of news; it’s a major milestone for Aussie semiconductor company Weebit Nano (ASX: WBT). The Company, known for developing advanced memory technologies for the global semiconductor industry, has received its first IP licensing revenue worth $153,536 (US$100k) for its embedded Resistive Random-Access Memory (ReRAM) technology. 

Though this revenue is small, it cements Weebit Nano’s exit from the “pre-revenue” stage as it officially transitions to commercialisation. However, the Company is yet to reveal who this contract has been signed with.

CEO of Weebit Nano, Coby Hanoch, said, “Revenue generation is a pivotal moment in Weebit Nano’s commercialisation journey with our unique ReRAM well positioned to replace existing flash technology due to its superior performance capabilities. This milestone highlights our significant technical achievements over the past year, including full qualification at both industrial and automotive temperatures for the embedded market, where memory is embedded into a ‘system-on-chip’ (SoC).” 

The market for embedded emerging non-volatile memory (NVM) is projected to reach $2.7 billion by 2028, with ReRAM set to contribute more than a third of this total. Weebit’s ReRAM technology caters to the increasing demand for higher performance and energy-efficient memory solutions in emerging electronic products like IoT devices, smartphones, robotics, autonomous vehicles, 5G communications, and artificial intelligence applications.

Weebit Nano’s revenue generation strategy involves three primary methods: earning licensing fees for design and manufacturing, collecting engineering fees for design and process work, and receiving royalties from customers once they start delivering end products.

Hanoch added, “We’re also progressing commercial agreements with most of the world’s leading foundries and Integrated Device Manufacturers (IDMs) to increase availability of our ReRAM. While the time it takes to secure new agreements can be lengthy, we are continuing to move forward with a proven NVM technology that outperforms flash on key metrics.”

In October 2023, Weebit Nano signed a licensing agreement with South Korean Tier-1 foundry DB HiTek, which functions in the analog domain. The agreement will enable DB HiTek customers to embed more advanced memory into its next-generation consumer, industrial, and IoT products. The Company has already transferred its ReRAM to a DB HiTek production facility, followed by qualification in its 130nm process.

As for a product milestone, in Q1 FY24, Weebit Nano successfully qualified its embedded ReRAM module at higher temperatures on recent Leti wafers, demonstrating the suitability of its technology for automotive-grade temperatures of up to 125° Celsius.

Overall, its cash burn stood at $4.6 million, primarily driven by staff costs of $3.2 million. It ended the quarter with $83.9 million in cash.  

This development significantly relieves shareholders who saw the share price shoot up nearly 8%. At the same time, Weebit Nano did inform shareholders that it has a lab located in Israel, which, though currently unimpacted, does create a challenging situation. 

We recently released a special report on the semiconductor industry and the ASX listed semiconductor stocks. Click here to read it.

  • About
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Alinda Gupta
Alinda is a Business Reporter for The Sentiment
Latest posts by Alinda Gupta (see all)
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  • asx wbt
  • coby hanoch
  • DB HiTek
  • NVM
  • reram
  • semiconductors
  • weebit nano
  • News

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  • About
  • Latest Posts
Alinda Gupta
Alinda is a Business Reporter for The Sentiment
Latest posts by Alinda Gupta (see all)
  • Ovanti’s iSentric signs contracts worth $14.4m with Malaysian commercial bank - June 27, 2024
  • Baby Bunting fights back from retail downturn with 5-year strategy, includes Gen-Z focus and self-funded growth - June 27, 2024
  • CLEO meets with US FDA to develop strategy for ovarian cancer test launch - June 26, 2024

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  • About
  • Latest Posts
Alinda Gupta
Alinda is a Business Reporter for The Sentiment
Latest posts by Alinda Gupta (see all)
  • Ovanti’s iSentric signs contracts worth $14.4m with Malaysian commercial bank - June 27, 2024
  • Baby Bunting fights back from retail downturn with 5-year strategy, includes Gen-Z focus and self-funded growth - June 27, 2024
  • CLEO meets with US FDA to develop strategy for ovarian cancer test launch - June 26, 2024
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