Anuj Aggarwal: Thank you, Richard.
Sanjeev Aggarwal: Thanks, Richard.
Operator: Thank you. And our next question comes from the line of Ravindra Gill with Needham & Company. Your line is now open.
Rajvindra Gill: Yes, thank you and congrats on solid results in light of very tumultuous environment. Just, Sanjeev, a question on the xSPI family and the ability to replace discrete NOR, you know, for certain industrial applications, IoT applications. Now that you have kind of a higher-density range with respect to the xSPI family. What has been the feedback from the customers in terms of the cost benefit of replacing discrete NOR with ST-MRAM? Is it on the cost side? Is it on the instant on access side? What’s been kind of the feedback, because that’s been the thesis for a while, is that MRAM combined the benefits of volatile and non-volatile? But the issue has been kind of around density. So, just curious of what you’re hearing from customers?
Sanjeev Aggarwal: Yeah, good afternoon, Raji, good afternoon. Basically, if you look at the way the NOR is used in current FPGAs, right, it’s basically, it takes forever to write, but the read speeds are pretty fast. So that’s where STT-MRAM is actually being appreciated by some of our customers, it’s basically the fast, the writes are much faster. So the faster over-the-air updates, the read speeds are similar. Then the other thing that it does is, it actually allows you to store multiple bit streams in the memory. So in that way, you can actually have two streams or three streams stored, depending on the number of slots and the density of the STT-MRAM that you’re using. So, where people value the faster write speeds, the longer endurance and the lower power to actually write those configuration streams, I think that’s where we’re getting good traction from our customers.
But where we are in a cost competitive environment, you know, NOR is obviously much cheaper than STT-MRAM. And that’s where we are seeing less of attraction. So again, just like our previous applications, customers that value our performance are adopting our parts.
Rajvindra Gill: And we’re thinking about, you know, calendar €˜24. So, first, the opportunity with the Department of Defense for the rad-hard product, where you know, the designs are going to, you find the extension of the rad-hard deal, which will have built in some technical milestones before the licensing revenue will come and then the broader push there. Can we talk about kind of that opportunity on the rad-hard in calendar €˜24? And then you also talked about, you know, the industrial, since the design cycles are taking long, you know it take a fair amount of time, that you’ll won’t see it in 2023, but you’ll see it in 2024. And so, how do we think about that impact potentially on 2024, with those two budding opportunities? And then, for this year, in 2023, what do you think will be the kind of main growth driver for this year?
Sanjeev Aggarwal: Right. If I deviate from the question, please stop me, okay. So that’s why I answered. So I’ll start with the last question. For 2023, what are the growth paths? And I think there you’re seeing our 16 meg and 64 meg STT-MRAM part, I think those getting traction and starting to see initial revenue from there, it’s not going to be huge numbers. But you know, it’s going to be a decent number that we’ll actually talk about by the end of the year. The other thing to look at is, these parts, again, the 16 and 64 in 2024, I think will drive significant revenue growth as they get adopted and qualified in the various systems over that. Now switching to the rad-hard product that we’re talking about. I just want to comment a little bit over here.
