Napatech A/S · 47 Napatech A/S © Copyright 2017 Napatech Aspiration In a Cloud-Mobile-IoT world,...
Transcript of Napatech A/S · 47 Napatech A/S © Copyright 2017 Napatech Aspiration In a Cloud-Mobile-IoT world,...
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Napatech A/SCapital Markets Day April 4, 2017Oslo, Norway
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IntroductionBy Lars Thoresen, Chairman of the Board
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Where We Left Off In 2016
MARKET LEADER FOR NETWORK
RECORDER SOLUTIONS
MARKET LEADER IN ACCELERATOR
SOLUTIONS
FRONT-RUNNER IN ACCELERATING
VIRTUALIZED SOLUTIONS
THOUGT LEADERDRIVING EXEPTIONAL
NEW INNOVATION
CLEAR STRATEGY
STRONG SOLUTIONS
BEST CUSTOMERS
GREAT EMPLOYEES
THOUGHT LEADER DRIVING EXCEPTIONAL
NEW INNOVATION
FRONT-RUNNERIN ACCELERATING
VIRTUALIZED SOLUTIONS
MARKET LEADER INACCELERATOR
SOLUTIONS
MARKET LEADER FOR NETWORK RECORDER
SOLUTIONS
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INTRODUCTIONKEYNOTE SPEAKER
THE SMARTNIC OPPORTUNITY
NAPATECH FINANCIALS
THE NAPATECH OFFERING
ROADMAP TO 100 MUSD IN 2020
Lars ThoresenNapatech
Chairman of the Board
Ron WilliamsIBM Security
Chief Architect
Jarrod J.S. SiketNapatech
Chief Marketing Officer
Henrik Brill JensenNapatech
Chief Executive Officer
Dan Joe BarryNapatech
VP Positioning and Chief Evangelist
Henrik Brill JensenNapatech
Chief Executive Officer
Agenda
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Keynote SpeakerRon WilliamsChief ArchitectIBM Security
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The SmartNICOpportunity Jarrod J.S. SiketChief Marketing Officer
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Major Trends In Networking And Communications
Cloud Computing
Source: IDC
By
20
20
5GMobile
Internet ofThings
4BILLION
Connected People
25MILLION
Applications
25BILLION
Embedded Systems
50BILLION
Devices and Sensors
50TRILLION
Gbps of Data
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Networking Disruption: Cloud-Mobile-IoT Era
We can learn from history:
• Few events-horizons at this scale
• Dominant firms disappeared
• Small firms became household names
• This is not just the next one
• It is the biggest one ever
Ma
infr
am
eC
lie
nt
-Se
rve
rC
lou
d-M
ob
ile-I
oT
Source: The 3rd Platform by IDC
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The Cloud Sparked The Revolution
Hyperscale Data Centers, andPercentage of all Servers Deployed
Workloads Deployed:Traditional vs Cloud Data Centers
Standard, high-volume, low-cost servers are now widely deployed, and able to be used for advanced network and security applications
259
300
100
500
0
200
400
600
30%
10%
50%
0%
20%
40%
297
346
399
447
485
2015 2016 2017 2018 2019 2020
75%
300
100
500
0
200
400
600
2015 2016 2017 2018 2019 2020 2012 2013 2014 2015 2016
Cost-per-hour of standard compute servers
92%
Traditional Data Center (3% CAGR)
Cloud Data Center (2% CAGR)
8%
25%
$0.64
$0.48
$0.28$0.35
Co
st p
er
ho
ur*
$0.15
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Applications Raced To The Cloud
Confidential intellectual property that will “never leave our walls for the cloud” in 2010…..
….Now support multi-billion dollar Cloud SaaS companies.
Revenue
Legal
Sourcecode
Bugs File Sharing
FinancialEmail Logs
Credentials
Security
PayrollUCS/PBX
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Networks Are Transforming
In Order To Achieve:
• Cloud-Scale Performance
• Cloud-Scale Innovation
• Cloud-Scale Economics
• Cloud-Scale Security
• Cloud-Scale Orchestration
A New Architecture Emerged:
• Software Defined Networking
• Network Virtualization
• Server Virtualization
• Network Functions Virtualization
• Open: stack, compute, …..
Source: VMWARE
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Networking Devices Are Transforming to Open Standard Compute Platforms
From Closed, ProprietaryVertical Systems
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SmartNICs: When Standard Servers And NICs Fail To PerformT
hro
ug
hp
ut
MP
PS
OVS with DPDK
Napatech
OVS with DPDK
Intel X710
5
37,240
20
60
CP
U U
sag
e (
Co
res)
2
12
4
6
8
10
14
16
2
16
10
30
50
OVS with DPDK
Napatech
OVS with DPDK
Intel X710
CP
U U
sag
e (
Co
res)
Compression with Napatech SmartNIC
SoftwareCompression
5
30
10
15
20
25
35
40
8xless CPU
usage
SmartNICs Are Faster SmartNICs Are More Efficient SmartNICs Save Money
40xless CPU
usage
7xPerformanceImprovement
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FPGAs Fulfill The Cloud-Scale Networking Vision
https://www.microsoft.com/en-us/research/publication/configurable-cloud-acceleration/
Configurable Cloud ArchitectureBased on FPGAs
Intel Acquires Altera FPGAFor Record $16.7B
SmartNIC
FPGAOpen, standard,programmable,
fast
ASICClosed, propriety
and multi-yearrevision cycles
NPUClosed, propriety
and multi-yearrevision cycles
MultiCoreMIPS
Generalizedprocessors
unoptimizedfor task
ProprietaryCPU
Closed systemnot open
and standard
Standard chipsetsMulti-year
revisions, unableto offload
Napatech pioneered the use of FPGA-
based NICs for networking
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New End-Users Emerge
ServiceProviders
Infrastructure andDefense
Enterprise
Hyperscale CloudOperators
TelcoCable
Managed Services
Fortune 5000BankingFinancial
ManufacturingHealthcare
CivilianDefense
Intelligence
Cloud and Data Center Services
Napatech aims to be the provider of Enterprise Cloud Networking Platforms for every IT organization,Providing cloud-scale hardware performance with the speed of software innovation
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High-Growth Applications Require SmartNICs
Firewall
Next-Gen Firewall
Intrusion Detection
Intrusion Prevention
Forensics
Threat Detection
Secure Web Gateway
Surveillance
Data Loss Prevention
Analytics
Trading
Network Recording
5G
CORD
vEPC
vIMS
Quality of Experience
Service Assurance
Performance Monitoring
Load Balancer
SD-WAN
V-CPE
SDN Gateway
Packet Broker
Network Taps
Major market trends allow Napatech to expand to a new range of high-growth applications on virtualized servers in software defined networks
Cyber Security MobileBig Data Infrastructure Testing
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New Routes to Market Emerge
Cyber Security MobileBig Data Infrastructure Testing
ServiceProviders
Infrastructureand Defense
EnterpriseCloud and Data center Services
Ap
plica
tio
ns
Ro
ute
s to
ma
rke
tE
nd
-use
rs
Network OEM
Security OEM
Appliance ODM
Server OEM
Server ODM
Software ISV
Enterprise VAR
Direct Sales
Napatech Web Store
The expanding set of end-user demand, and new applications,Rapidly Extends Napatech’s Reach, via pre-existing routes to market.
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Market is ready for growth:
• Cloud early adopter success
• Mass markets preparing
Large unit volume potential:
• 12-15M servers shipped
• 3-5M appliances shipped
• Future CPUs with FPGA
Sizeable Revenue within reach:
• 15% of devices with SmartNICs
• 2.25M Servers/appliances
• $1.1B target market with upside
The Time is NOW
Source: Gartner 2016 Hype Cycle For Networking & Communications Source: based on Infonetics, Crehan, Dell’Oro
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Comprehensive Solution Provider
Easy to buy
Satisfy end-user demandvia their preferred
methods
PartnerEcosystem
ChannelProgram
SmartNIC Platform
Best in breed
Solution completion,Application benchmarks
ProfessionalServices
Ease of use
Low activation energy, Co-creation services
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SmartNIC Platform Portfolio
Hardware
Software(FPGA, driver, APIs)
Virtualization(OVS Offload)
In-line(Fast Path)
Recorder(100% Capture)
Application Engines
PANDIONRecorder
CompressionOpen
SourceCommunity
FuturesEncryption, Search…
ProfessionalServices
Application Store (Future)
Open Source
Commercial
Technical Support Assessment Services Co-Creation Programs
XS S M L XL
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Napatech Aspiration
In a Cloud-Mobile-IoT world, of software defined everything…..
Napatech’s Enterprise Cloud Networking Platform™
Flexibly offloads and secures standard, virtualized servers
To boost innovation and return valuable compute resources to services and revenue
Cloud-Scale PerformanceStunning benchmarksHigh speed, few cores
Cloud-Scale EconomicsStunning pricing,right mix of features
Cloud-Scale InnovationHW at SW speed, programmable
Cloud-Scale SecurityMicroSegmentation, Stateful, isolation, rules
A comprehensive portfolio of SmartNICs for every intelligent location in your cloud
From COTS standard servers, to high-end compute and appliances.
Standard SoftwareOVS, DPDK, fast-path
Scalable ProcessingIndustry FPGA metrics
Open, StandardCOTS HW, Open SW
OurWorld
OurCompany
TheBenefits
TheResults
Powered ByLeading Technology
In World-ClassProducts
Napatech aims to help companies reimagine their business,
By bringing cloud-scale economies to every network
To deliver the right data to the right place and the right time
Networking IP~15 years of HW+SW
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NapatechFinancialsHenrik Brill JensenChief Executive Officer
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Q1 2017 Sales
+17%Q1 2017 sales of USD 8.2 million (7.0)
Q1 SalesHighlights:
• Strong development across business segments
• Development within2017 revenue growth guidance of 10 – 20 %
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Profit and Loss – Strong EBITDA Development
(Figures in MDKK) 2016 2015 2014
Revenue 234.7 216.7 182.3
Gross profit 163.6 154.7 133.6
Gross margin 69.7 % 71.4 % 73.3 %
EBITDA 43.5 34.2 18.0
EBIT 6.0 5.5 (5.9)
Cash flow from operating activities 15.2 33.2 10.7
Cash and cash equivalents 47.0 75.9 88.2
Profit and Loss Highlights:
• Strong platform fornext growth cycle
• Cost focused andlean organization
• Solid EBITDA development
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Balance Sheet – 78% Equity Ratio
(Figures in MDKK) 2016 2015 2014
• Development projects, completed• Development projects, in progress
Total non-current assets
75.722.5
105.0
70.112.491.4
54.38.7
87.6
• Cash and cash equivalentsCurrent assets
47.0147.7
75.9145.5
88.2137.2
Total assets 261.4 247.6 224.8
Equity 204.4 197.0 189.6
Non-current liabilities 13.4 10.2 5.6
Current liabilities 43.6 40.4 29.6
Total equity and liabilities 261.4 247.6 224.8
Balance Sheet Highlights:
• Development projects completed are the basis for our current revenue
• Development projects in progress increases dueto investments in three product areas – basis for accelerated growth
• 2020 growth strategy fully funded, but acquisitions to enhance opportunities are considered regularly
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Gross Margin Development
60%
65%
70%
75%
80%
2011 2012 2013 2014 2015 2016
Margin Development:
• Gross margin is driven by Accelerator product mix and growth in Pandion sales
• More aggressive go-to-market strategy could affect gross margin inthe longer run
• 2017 gross margin guidance of around 68%, is reflecting enhanced Pandion sales including COTS hardware
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0%
5%
10%
15%
20%
25%
30%
35%
Q1 Q2 Q3 Q4
2015 2016
EBITDA Margin Development
EBITDA margin:
• Highly scalable business model where revenue growth drives EBITDA
• 2016 EBITDA marginof 19%
• 2017 EBITDA margin guidance of around 20%
54 NAPATECH INTERNAL DOCUMENT DO NOT DISTRIBUTE EXTERNALLYNapatech A/S © Copyright 2017
The NapatechOfferingDan Joe BarryVP Positioning and Chief Evangelist
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Fundamental Need Of All Internet UsersStay Connected And Be Secure
Increasing
Internet
dependence
Stay connected
Exploding
volumes
of data
Faster
network
speeds
All services
moving to
the cloud
More
sophisticated
services and
usage
Be secure
Users
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Fundamental Need Of All Internet UsersStay Connected And Be Secure
Increasing
Internet
dependence
Stay connected
Exploding
volumes
of data
Faster
network
speeds
All services
moving to
the cloud
More
sophisticated
services and
usage
Be secure
Users
174%
121%103%
89% 89%74%
49%33% 30%
Lifestyle & Shopping
Utilities & Productivity
MessagingSocial
Health &Fitness
Travel Sports News & Magazines
Music,Media &
Entertainment
Games
Mobile App Year-over-Year Usage Growth in 2014
Source: Flurry
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Fundamental Need Of All Internet UsersStay Connected And Be Secure
Increasing
Internet
dependence
Stay connected
Exploding
volumes
of data
Faster
network
speeds
All services
moving to
the cloud
More
sophisticated
services and
usage
Be secure
UsersRemote
Healthcare
Government Services
Augmented Reality
Online Banking
SmartHome
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Fundamental Need Of All Internet UsersStay Connected And Be Secure
Increasing
Internet
dependence
Stay connected
Exploding
volumes
of data
Faster
network
speeds
All services
moving to
the cloud
More
sophisticated
services and
usage
Be secure
UsersTOTAL IP Traffic Per
MonthSource: Cisco VNI Report 2015
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Fundamental Need Of All Internet UsersStay Connected And Be Secure
Increasing
Internet
dependence
Stay connected
Exploding
volumes
of data
Faster
network
speeds
All services
moving to
the cloud
More
sophisticated
services and
usage
Be secure
Users
1980 1990 2000 2010 2020
Ethernet SpeedsSource: Ethernet Alliance
10M100M
1G
10G
100G
40G
400G
25G
5G
2.5G
50G
200G
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Fundamental Need Of All Internet UsersStay Connected And Be Secure
Increasing
Internet
dependence
Stay connected
Exploding
volumes
of data
Faster
network
speeds
All services
moving to
the cloud
Be secure
Users
92%
75%
25%
8%
2015 2016 2017 2018 2019 2020
Installed Workloads in Millions
Source: Cisco Global Cloud Index 2016
600
400
200
0
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Multitude Of Solutions AvailableTo Ensure Connectivity And Security
Cybersecurity applications ensuring
users be secure
Network management applications ensuring users stay connected
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Applications Separate From User ServicesNot Part Of The Data Delivery Path To The User
Users Services
Cybersecurity applications ensuring
users be secure
Network management applications ensuring users stay connected
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Need Insight Into Service Data To Function In Real-Time Without Losing Any Of The Data
Users Services
Cybersecurity applications ensuring
users be secure
Network management applications ensuring users stay connected
How to get access to reliable service data to
ensure users stay connected and
can be secure?
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Napatech Smarter Data Delivery SolutionsEnsure Delivery Of Reliable Data For Analysis
Users Services
Cybersecurity applications ensuring
users be secure
Network management applications ensuring users stay connected
NapatechSmarter
Data Delivery
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Napatech Smarter Data Delivery SolutionsEnsure Delivery Of Reliable Data For Analysis
Typical DatacenterWith thousands of servers supporting user services
Some servers dedicated to network management and
cybersecurity software
Napatech ensures reliable data delivery to these
”appliance” servers
CybersecuritySoftware
NapatechSmarter
Data Delivery
CyberSecuritySoftware
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The SmartNIC OpportunityAddressing More Applications In The Datacenter
Address more applications running on other servers in
the datacenter
Bringing more power and value to existing
installed servers
Delivering data to more applications with accelerated
performance
NapatechSmarter
Data Delivery
Virtual Switch
Acceleration
Encryption
Compression
CyberSecuritySoftware
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Migration To The CloudDriving Dependency, Growth And Investment
Increasing
internet
dependence
Exploding
volumes of
data
Faster
network
speeds
All services
moving to
the cloud
More
sophisticated
services and
usage
Stay connected
Be secure
Users
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What Is The Cloud?Getting Someone Else To Host Your Software
Buy, install and run all your enterprise software
applications on your own servers in your own
datacenter
Buy, install and run all your enterprise
software applications on dedicated servers in a third party datacenter
Use combination of private cloud and
subscription to third party services running
remotely in a third party datacenter
Subscribe to various services running remotely in a third party datacenter
instead of running your own applications
Traditional Datacenter
PrivateCloud
HybridCloud
PublicCloud
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Migration To The Cloud Takes Time Napatech Supporting Cloud Migration For Our Customers
TraditionalDatacenters
Private Clouds
Hybrid Clouds
Public Clouds
Smarter real-time
Data Delivery
Smarter on-demandData Delivery
Smarter virtualized
Data Delivery
Challenge to migratenetwork management and cybersecurity solutions
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Napatech SmartNIC SolutionsAnticipating Migration Needs And Broadening Scope
Smarter real-time
Data Delivery
Other Virtual
Software
Napatech SmartNIC solutions for
Smarter Real-Time Data Delivery
Napatech SmartNIC solutions
for Smarter On-Demand Data Delivery
Napatech SmartNIC solutions
for Smarter Virtualized Data Delivery
Smarter on-demand
DataDelivery
Smarter virtualized
DataDelivery
CyberSecuritySoftware
NetworkManagement
Software
NetworkManagement
Software
NetworkManagement
Software
CyberSecuritySoftware
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Napatech SmartNIC SolutionsSmarter Real-Time Data Delivery
• Our customers rely on Napatech Accelerators to deliver data at high-speeds and data volumes with zero data loss
• The data delivered must be highly accurate and complete to ensure reliable analysis
• Intelligent capabilities enable users to understand and select which kinds of data should be delivered providing full control
• Napatech Software Suite supports all Napatech Accelerators allowing one solution to support many deployment options
Think – Smarter Data Delivery
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NapatechAccelerators
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Smarter Real-Time Data Delivery Case StudyYahoo Security Solution
Software specialist ntop was engaged by Yahoo! to help develop a 40G and 100G data delivery solution for their security solution. Yahoo! Needed insight into traffic in the datacenter at speeds up to 100G in order to provide a reliable security assessment.
In partnering with Napatech, ntop developed a compact security solution capable of keeping up with the 100G speeds and data volume in the Yahoo! datacenter. Napatech Acclerators ensured that no data was missed or lost so a reliable and accurate picture was provided for analysis.
• Guaranteed data delivery even at 100G• Better insight into datacenter data
making the security solution more reliable
• Re-use of Yahoo! existing security software solutions with no added development costs
The Challenge Solution Benefits
NapatechAccelerators
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Napatech SmartNIC SolutionsSmarter On-Demand Data Delivery
NapatechRecorders
• Napatech Pandion is a scalable network recorder that captures, stores and delivers data on-demand
• Focused on network recording of all network data providing users with the freedom to choose any analysis software
• Allows multiple software applications to retrieve data at the same time with an open and easy-to-use interface
• Intelligent features allow the user to specify exactly the data to be retrieved and analyzed providing full control
Think – Smarter Data Delivery
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Smarter On-Demand Data Delivery Case Study Facebook - Data Recording
To safeguard their enterprise from cyber threats, Facebook needed a solution to capture all data packets in real time and store them for up to 90 days for on-demand post-analysis; a task requiring exceptional performance and reliability.
Napatech developed a custom solution that enabled investigation into any security event. This was achieved by integrating the Pandion Flex network recorder with the company’s high-capacity storage solution, thus ensuring that all data packets were captured and stored for quick retrieval for up to 90 days.
• Uncompromised high-speed packet capture
• Ultrafast data retrieval• Seamless integration of the Facebook
SAN and Napatech network recording technology
The Challenge Solution Benefits
NapatechRecorders
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Napatech SmartNIC SolutionsSmarter Virtualized Data Delivery
NapatechVirtualization
• Napatech NFV NIC is a versatile and flexible platform that supports multiple acceleration solutions for virtualized environments.
• Napatech virtual switch acceleration solutions enable delivery of more data to more virtual applications at a lower cost
• Napatech also accelerates intensive data processing like decryption and compression with several orders of magnitude
• Napatech enables virtual monitoring allowing users to see what is happening in virtual environments
Think – Smarter Data Delivery
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Smarter Virtualized Data Delivery Case StudyNokia - Compression Acceleration
Nokia had encountered a performance bottleneck related to compression of files for their storage solution. While software compression is possible in software, the compression time can be lengthy and the CPU core consumption is high.
Napatech provided a Proof-of-Concept solution based on the Napatech NFV NIC that could provide hardware accelerated compression at 40 Gbps using only 1 CPU core. The average compression time was improved by a factor of 30 without compromising on the compression ratio.
• Solution used 1 core instead of 40 for software compression
• This results in millions of savings in CAPEX and OPEX at the datacenter level
• Also means more CPU resources for hosting virtual functions
• Now possible to perform fast file compression on-demand at high-speed
Challenge Solution Benefits
NapatechVirtualization
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The Roadmap to 100 MUSD by 2020Henrik Brill JensenChief Executive Officer
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CMD 2017CMD 2016
Established Napatech growth strategy
Set $100M USD business aspiration for 2020
Accelerated investments in development, sales and marketing
Result: Leading products for growth
segments and strong strategic customer relationships
Current market trends strongly validate Napatech growth strategy
Reaffirms aspirational business growth plans for 2020
Expanding reach through marketing, partners, sales and channels
Result: Be and be perceived as
THE leading SmartNIC solution provider
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2020 Strategy Secured by Strong Technology,Portfolio and Organization
Napatech is the leader in FPGA-based solutions, which will become an
inevitable part of every network
Focus on pursuing and exploiting emerging
SmartNIC opportunities that will drive
accelerated growth
Repackage solutions and technologies to fit diverse
market needs
Secure an ecosystem of value-adding partners and
channels
Expanding the core
FIRM STRATEGIC EXECUTIONEXPANDING THE CORELEADING TECHNOLOGY
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Accelerated Growth Path Towards 2020
100 MUSD
2016 2020
• Robust portfolio of current customers provides strong business foundation and additional growth opportunities
• Catalogue of ongoing co-creation deployments with market leading customers based on strategic relationships
• Emerging SmartNIC opportunities for accelerated growth driven by digital transformation and migration to the cloud
Napatech is in pole-position to continue to deliver state-of-the-art products, software and technology to an ever expanding range of customers
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Napatech’s strategy is to be the #1 vendor of Smarter Data Delivery solutions, leading to an ambition of a 100 MUSD top-line by 2020, based on a strong product portfolio powered by leading-edge core technology
Based on the growth of 8% in 2016, the company expects the profitable revenue growth to continue in 2017, across the business areas
Napatech reiterates that the company is confident with an accelerated growth path towards the 2020 ambition
Short term visibility is limited and will be affected by quarter-to-quarter order fluctuations and general uncertainty
Guidance for 2017:
•Revenue growth 10% - 20%
•Gross margin around 68%
•EBITDA margin around 20%
Management’s Outlook
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Q&A Session
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