Core Insights - The company achieved the highest quarterly revenue in its history during Q4 2025, driven by an 11% increase in licensing revenue and broad demand across all technology pillars [1] - The strategic focus has transitioned toward 'Physical AI,' emphasizing the need for edge devices to connect, sense, and infer data locally in real-time for autonomous decision-making [1] - A significant NPU design win was secured with a top-tier PC OEM, validating the company's capability to provide high-performance, power-efficient AI silicon IP for next-generation computing [1] Revenue and Growth - The connectivity franchise expanded with record shipments in Wi-Fi and cellular IoT, which grew 48% and 42% year-over-year respectively, helping to offset softness in the mobile handset market [1] - The diversified 'Smart Edge' portfolio generated 86% of total revenue in 2025, reducing dependency on the volatile smartphone sector [1] Licensing and Agreements - The company demonstrated a 'licensing and royalty flywheel' by signing 54 agreements in 2025, with 12 customers licensing multiple technologies to address complex system requirements [1]