SECOND QUARTER 2021 RESULTS

"We are very pleased with our outstanding results. We successfully navigated tight supply chain challenges, posted a record quarter on virtually all fronts, and surpassed our guidance on most financial metrics. Revenues of $35.8 million were at the high-end of our guidance range, up 26% year-over-year and 10% sequentially. Revenue growth was driven by strong demand for voice-centric products, predominantly in our IoAT businesses, which reached record revenues of $25 million, up 35% year over year and 19% sequentially and comprising 69% of total revenues. The favorable mix of products and the solid revenue growth propelled record high non-GAAP gross margins of 54.1%. Looking ahead to the third quarter, we expect the solid momentum in our business to continue, translating into revenue growth both sequentially and year

over year."

Ofer Elyakim, Chief Executive Officer

FINANCIAL HIGHLIGHTS

$35.8M $0.12

REVENUE

EPS (NON-GAAP)

$24.8M 54.1%

IoAT BUSINESSES

GROSS MARGIN

REVENUES

(NON-GAAP)

IoAT BUSINESSES HIGHLIGHTS

SMARTHOME

  • SmartHome $5.7 million, a year-over-year increase of 33%
  • A tier 1 security service provider launched an expanded product offering based on our ULE technology
  • A European telecommunication service provider launched a new broadband gateway model incorporating our DECT/ULE technology

UNIFIED COMMUNICATIONS

  • • Unied Communications segment revenues of $11.8 million, a year-over-year increase of 16%.
    • Our WFA conferencing offering passed Microsoft Teams labs compliancy requirements for voice conferencing
    • A tier 1 unied communications OEM chose one of our multi core DSPs for its newly launched WFH device

SMARTVOICE

• SmartVoice segment revenues of $7.2 million, a year-over-year increase of 82%

  • A leading U.S. platform company selected our SmartVoice products for two new product lines
  • A leading consumer brand launched an innovative wearable device based on our SmartVoice solution

REVENUE BY PRODUCT LINE ($)

11.8M

11.0M

10.1M

9.9M

7.2M

5.7M

4.3M

3.9M

Unified

SmartHome

SmartVoice

Cordless

Communications

Q220

Q221

GROSS MARGIN (NON-GAAP)

54.1%

51.9

52.7

51.2

51.2

51.4

50.8

51.6

50.1

Q219

Q319

Q419

Q120

Q220

Q320

Q420

Q121

Q221

REVENUE FROM IoAT BUSINESSES (%)

61.0

60.0

67.0

64.0

65.0

52.0

57.0

64.0

69.0

Q219

Q319

Q419

Q120

Q220

Q320

Q420

Q121

Q221

IoAT Businesses (%)

FAST FACTS

$129.9M $6.8M

Q2 CASH

Q2 OPERATING CASH FLOW

$3.3M $5.04

Q2 OPERATING INCOME

Q2 CASH PER SHARE

(NON-GAAP)

NASDAQ: DSPG | WWW.DSPG.COM |

@DSPGinc

For further details please contact ir@dspg.com or tali.chen@dspg.com

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DSP Group Inc. published this content on 02 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 August 2021 14:11:07 UTC.