Financial Data and Key Metrics Changes - Revenues for Q4 2025 were $16.9 million, a 17% increase from $14.5 million in Q4 2024, exceeding guidance [8][19] - Gross profit for Q4 2025 was $5.1 million, with a gross margin of 30.2%, compared to a gross profit of $4.2 million and a gross margin of 29.1% in Q4 2024 [21] - Net loss for Q4 2025 was $1.9 million, an improvement from a net loss of $5.1 million in Q4 2024, with loss per share decreasing from $0.87 to $0.34 [21][22] Business Line Data and Key Metrics Changes - The company achieved eight major new design wins in 2025 across edge systems, SmartNIC, and FPGA solutions, indicating strong demand for core products [9][10] - The opportunity pipeline is broader than ever, with expectations for 7 to 9 design wins in the current year [10][17] Market Data and Key Metrics Changes - Geographical revenue breakdown for the last 12 months: North America 74%, Europe and Israel 17%, Far East and rest of the world 9% [19] - One customer accounted for approximately 14% of total revenues, indicating reliance on a limited number of customers for substantial revenue growth [19] Company Strategy and Development Direction - The company is focusing on three major growth areas: AI inference, post-quantum cryptography, and white label switching, which are expected to drive significant revenue growth [11][12][15] - The company aims to leverage existing customer relationships and IP to capitalize on these new opportunities while maintaining a strong core business [17][18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential for accelerated double-digit revenue growth in 2026 and beyond, supported by a solid foundation of design wins and a strong balance sheet [10][16] - The company anticipates that the core business will continue to grow strongly, with new opportunities expected to contribute in the longer term [24][25] Other Important Information - The company reported a strong balance sheet with $111 million in working capital and marketable securities, including $74 million in cash and no debt [10][22] - Management emphasized the importance of early positioning in emerging markets and the need for credibility and execution to capitalize on growth opportunities [11][12] Q&A Session Summary Question: Timeline for new opportunities in AI inference - Management indicated that all three new opportunities are in initial stages, with no significant revenue expected in the near term, but the core business is expected to remain strong [24] Question: Sales cycles and design processes for new opportunities - Management noted that leveraging existing IP and know-how could lead to faster revenue generation compared to historical timelines [25] Question: Changes to sales process or additional investments - Management believes the current team structure is adequate to support growth and does not foresee significant additional spending in R&D at this time [27][32]