Financial Data and Key Metrics Changes - In 2025, the company achieved full-year revenue of $2.8 billion, representing a 26.4% increase from 2024 [7] - For Q4 2025, the company reported record quarterly revenue of $751.2 million, which is 1.9% higher than Q3 2025 and 20.8% higher than Q4 2024 [7] - The non-enterprise data end markets grew by over 40% year-over-year, indicating strong performance in diversified business segments [7] Business Line Data and Key Metrics Changes - The company recorded significant growth in its automotive segment, with a 43% year-over-year increase [69] - The enterprise data segment saw a decline of 2% in 2025, yet the overall company growth was 26%, showcasing resilience and adaptability [83] - The company is transitioning towards solutions, with a focus on 800-volt power solutions for data centers and automotive applications [8] Market Data and Key Metrics Changes - The company secured over $4 billion in geographically balanced capacity, indicating strong supply chain management and future growth potential [7] - There is a noted increase in demand for optical modules and data center solutions, driven by advancements in AI and server technologies [20][67] Company Strategy and Development Direction - The company aims to maintain its long-term growth strategy by focusing on innovation and solving customer challenges [8] - There is a commitment to expanding into new markets and diversifying end-market applications to capture future growth opportunities [9] - The management emphasizes the importance of adapting to market changes and maintaining supply chain stability [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's prospects, highlighting a strong backlog and positive ordering patterns [14][45] - The outlook for enterprise data growth in 2026 has been adjusted to a floor of 50%, reflecting increased confidence in market demand [17] - Management acknowledged macroeconomic uncertainties but remains optimistic about growth drivers in automotive and data center segments [79] Other Important Information - The quarterly dividend will increase by 28% to $2 per share, reflecting the company's commitment to returning value to shareholders [8] - The company has returned over 72% of free cash flow to stockholders through share repurchases and dividends over the past three years [8] Q&A Session Summary Question: Insights on different market segments for Q1 - Management noted strong ordering patterns in Q4 2025, with a book-to-bill ratio well above one, indicating robust demand [14] Question: Outlook for enterprise data and seasonal elements - Management indicated a more confident outlook for enterprise data growth, suggesting a potential increase to 50% growth for 2025 [17] Question: Impact of memory prices on demand - Management stated that while there are concerns about memory constraints, they do not foresee significant impacts on their capacity to meet customer demands [31][32] Question: Expectations for optical transceiver business - Management confirmed strong growth in optical modules and expects continued growth in the communications segment [67] Question: Drivers of automotive segment growth - Management highlighted diversification into new content opportunities beyond ADAS, with a focus on 48-volt and zonal architectures [72] Question: Market share gains and visibility in enterprise data - Management emphasized their strategic engagement with top customers and the potential for market share gains in a growing market [104] Question: Transition to vertical power solutions - Management confirmed that vertical power solutions are expected to drive revenue growth as they become more widely adopted [126] Question: Updates on packaging innovation for modules - Management indicated that they are sampling new products that double the current density of modules, with expectations for shipping soon [114]