PROSPECTUS SUPPLEMENT SUMMARY
This summary highlights selected information contained elsewhere or incorporated by reference in this prospectus supplement and the accompanying
prospectus. This summary does not contain all the information you should consider before investing in our securities. You should read and consider carefully the more detailed information in this prospectus supplement and the accompanying prospectus,
including the factors described under the heading Risk Factors in this prospectus supplement and the financial and other information incorporated by reference in this prospectus supplement and the accompanying prospectus, as well as the
information included in any free writing prospectus that we have authorized for use in connection with this offering, before making an investment decision.
Company Overview
Our vision is to
transform the way people and devices interact with each other and their surroundings. Our mission is to provide innovative silicon and software platforms to successfully enable our customers to develop products that fundamentally change the
end-user
experience. Specifically, we are a fabless semiconductor company that develops low power, multi-core semiconductor platforms and intellectual property, or IP, for artificial intelligence, or AI, voice and
sensor processing. The solutions include embedded FPGA IP, or eFPGA, for hardware acceleration and
pre-processing,
and heterogeneous multi-core SoCs that integrate eFPGA with other processors and peripherals.
The SensiML Analytics Toolkit from our recently acquired wholly-owned subsidiary, SensiML Corporation, or SensiML, completes the full stack
end-to-end
solution with accurate sensor algorithms using AI technology. The full range of platforms, software tools and eFPGA IP enables the practical and efficient adoption of AI, voice and sensor processing across mobile, wearable, hearable, consumer,
industrial, edge and endpoint IoT applications.
Our solutions are created from our new silicon platforms including our EOS
, QuickAI
, SensiML Analytics Studio, ArcticLink
®
III, PolarPro
®
3, PolarPro II, PolarPro, and Eclipse II products (which together comprise our new product category). Our mature products include primarily FPGA families named pASIC
®
3 and QuickRAM
®
as well as programming hardware and design software. In addition to delivering our own semiconductor solutions, we have an
IP business that licenses our eFPGA technology for use in other semiconductor companies SoCs. We began delivering our eFPGA IP product ArcticPro
in 2017, which is included in the new product
revenue category. Through the acquisition of SensiML, we now have an AI software platform that includes
Software-as-a-Service,
or
SaaS, subscriptions for development, per unit license fees when deployed in production, and
proof-of-concept
services, all of which are also included in the new product
revenue category.
Our solutions typically fall into one of three categories: Sensor Processing, Display and Visual Enhancement, and Smart Connectivity.
Our solutions include a unique combination of our silicon platforms, IP cores, software drivers, and in some cases, firmware and application software. All of our silicon platforms are standard devices and must be programmed to be effective in a
system. Our IP that enables
always-on
context-aware sensor applications includes our Flexible Fusion Engine, our Sensor Manager and Communications Manager technologies as well as IP that (i) improves
multimedia content, such as our Visual Enhancement Engine, or VEE, technology, and Display Power Optimizer, or DPO, technology; and (ii) implements commonly used mobile system interfaces, such as Low Voltage Differential Signaling, or LVDS,
Mobile Industry Processor Interface, or MIPI, and Secure Digital Input Output, or SDIO. We provide complete solutions by first architecting the solution jointly with our customers or ecosystem partners engineering group, selecting the
appropriate solution platform and Proven System Blocks, or PSBs, providing custom logic, integrating the logic, programming the device with the PSBs and/or firmware, providing software drivers or application software required for the