Weebit Nano receives first revenue

Weebit Nano (ASX:WBT, Weebit or Company), a developer of advanced memory technologies for the global semiconductor industry, is pleased to announce that it has received its first IP licensing revenue for its embedded Resistive Random-Access Memory (ReRAM) technology.

While this initial licensing fee is relatively small at US$100,000, the Company considers the fact that Weebit Nano is no longer “pre-revenue” to be material as it marks Weebit Nano’s transition to commercialisation.

Weebit Nano’s plan is to generate revenues from foundries and product companies in three main ways: licensing fees for design and manufacture; engineering fees for designs and processes; and royalties for use by customers, which will be received once customers begin shipping end products.

Coby Hanoch, CEO of Weebit Nano, said: “Revenue generation is a pivotal moment in Weebit Nano’s commercialisation journey with our unique ReRAM well positioned to replace existing flash technology due to its superior performance capabilities1. This milestone highlights our significant technical achievements over the past year, including full qualification at both industrial and automotive temperatures for the embedded market, where memory is embedded into a ‘system-on-chip’ (SoC). The embedded emerging non-volatile memory (NVM) market is expected to reach $2.7 billion by 2028, with ReRAM expected to account for more than a third of that2.

“We’re also progressing commercial agreements with most of the foundries and Integrated Device Manufacturers (IDMs) to increase availability of our ReRAM. While the time it takes to secure new agreements can be lengthy, we are continuing to move forward with a proven NVM technology that outperforms flash on key metrics.”