如果你也是芯片设计团队中的一员，上述"灵魂拷问"你肯定听过不止一遍。 随着芯片尺寸增大、工艺节点推进，我们不知从何时开始就早已习惯在物理验证阶段苦苦挣扎。一个改 动就可能引发数小时、甚至数天的物理验证工作。更别提那几万条"眼花缭乱"的错误信息，让人如坠迷 雾。 公众号记得加星标⭐️，第一时间看推送不会错过。 "这次的DRC/LVS什么时候能跑完？" "报告里的Error太多了，哪个是真问题，哪个是能Waive的？" "快Tape-out了，版图改了一版，为了保证流片质量，又必须要重新跑一遍所有的DRC/LVS等物 理全集验证，时间还来得及吗？" "快"就一个字： 验证速度与效率的革命性提升 Argus的出现彻底改变了这一窘境。它强大的分布式计算引擎，能够充分利用服务器集群上千个CPU核 计算资源，可以在几个小时内完成全芯片的DRC检查。 对于大规模SoC的DRC，其包括基础层（Base Layer ） 、 金 属 层 （ Metal Layer ） 、 闩 锁 效 应 （ Latch up ） 、 电 压 检 查 （ Voltage ） 和 全 芯 片 （ Full Chip）五大部分的检查。在Base La ...

Financial Data and Key Metrics Changes - The company reported fourth quarter sales of $561 million, up 23% year-over-year and up 7% on a constant currency basis [18][22] - Adjusted gross margin for the fourth quarter was 60.1%, an increase of 150 basis points year-over-year [20] - Adjusted EBITDA grew 38%, delivering a margin of 20.1%, up 210 basis points compared to the same quarter last year [21] - Adjusted earnings per share were $0.98, a 24% increase versus the prior year [22][23] Business Line Data and Key Metrics Changes - In the Recon segment, global revenue grew 59% reported and 10% on a comparable basis, with double-digit growth in both Hip Knee and Extremities segments [10][19] - The P&R segment experienced 3% growth, reflecting a stable market environment [15][19] - The Lima acquisition significantly contributed to the growth and integration of the Recon business, exceeding revenue and profit goals [13][14] Market Data and Key Metrics Changes - U.S. Recon grew 7%, with 10% growth in U.S. Extremities and 8% in Hip Knees [10] - Internationally, the company achieved 13% growth while executing integration plans [11] - The company anticipates high single-digit growth in Recon for 2025, with stable low single-digit growth in P&R [26] Company Strategy and Development Direction - The company aims for continued growth through new product launches and cross-selling opportunities, particularly in the Recon segment [12][34] - The focus for 2025 will be on small bolt-on acquisitions while completing the integration of Lima [44][46] - The company is committed to maintaining a strong cash flow and reducing debt levels while pursuing strategic growth opportunities [72][74] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term strategic goals and operational performance, despite a noncash goodwill impairment of $645 million [23][24] - The company expects 2025 to be another year of strong execution, with revenue guidance of $2.19 billion to $2.22 billion [26][28] - Management highlighted the importance of addressing tariff impacts and maintaining supply chain resilience [31][100] Other Important Information - The company is transitioning leadership as the CEO announced plans to retire later this year [36][39] - The integration of Lima is largely complete, with ongoing opportunities for cross-selling and operational improvements [88][92] Q&A Session Summary Question: What is the M&A strategy post-Lima? - The company plans to focus on small bolt-on acquisitions in 2025 while ensuring the successful integration of Lima [44][46] Question: Is there a pathway to double-digit growth in Recon? - Management believes there are multiple paths to achieve double-digit growth, but has set a strategic goal of high single digits for 2025 [49][51] Question: What are the margin assumptions for 2025? - The company expects adjusted EBITDA margin improvement of 60 to 70 basis points for 2025, driven by core operating leverage and synergies from Lima [58][61] Question: How is the integration of Lima progressing? - The integration is largely complete, with key channel integrations and leadership team combinations finalized, allowing for a focus on cross-selling opportunities [92][94] Question: What are the expectations for the Hip business in 2025? - The new Hip products are expected to launch in the first half of 2025, which should help recapture lost market share and drive growth [84][86] Question: How will the company address tariff impacts? - The company has been working on supply chain diversification and pricing strategies to mitigate the impact of tariffs [98][100]