AOSL 2027 회계연도 1분기 실적 발표 콘퍼런스콜: AI 및 서버 성장세가 마진 견인

핵심 요약

• 2027 회계연도 1분기 매출은 1억 7,780만 달러로 전 분기 대비 4.3% 증가하고 전년 동기 대비 2.6% 감소해 경영진 가이던스 중간값을 소폭 웃돌았다.
• 첨단 컴퓨팅(Advanced Computing) 부문 매출은 전 분기 대비 50% 이상, 전년 동기 대비 80% 증가하며 전체 매출의 23%에 육박했다. AI 및 서버용 매출 비중은 전년 동기 5.5%에서 약 20%로 확대됐다.
• 비일반회계기준(Non-GAAP) 매출총이익률은 제품 믹스 개선에 힘입어 전 분기 대비 150bp 상승한 25.2%를 기록했다. 경영진은 가격 환경이 중립적인 수준에서 소폭 우호적인 방향으로 돌아섰다고 밝혔다.
• 높아진 메모리 비용과 부품 부족이 수요를 압박하면서 전통적인 PC 관련 매출은 전 분기 대비 약 30% 감소했다. 경영진은 단기적인 PC 수요 회복을 기대하지 않고 있다.
• 통신 부문 매출은 전 분기 대비 15.0% 증가했고 전력 공급 및 산업 부문 매출은 29.2% 증가해 PC 및 가전 부문의 부진을 상쇄하는 데 기여했다.
• 12월 분기 실적과 관련해 경영진은 매출 약 1억 8,000만 달러(±1,000만 달러), Non-GAAP 매출총이익률 25.7%(±1%포인트)를 예상했다.

주요 재무 데이터

AOS는 합작회사의 대주주가 약 3억 4,400만 달러를 출자하고 합작회사가 소액주주 지분을 소각함에 따라 400만 달러의 이익을 인식했다. 이에 따라 AOS의 지분율은 18.9%에서 15.1%로 낮아졌다. 해당 이익은 Non-GAAP EPS 집계에서 제외됐다.

사업 및 영업 실적

컴퓨팅

컴퓨팅 부문 매출은 8,320만 달러로 전 분기 대비 2.0% 감소하고 전년 동기 대비 14.3% 감소했다. 전체 매출에서 차지하는 비중은 46.8%였다.

해당 부문의 매출 구성은 첨단 컴퓨팅으로 급격히 이동했다. AI 및 서버 관련 매출은 전 분기 대비 65% 이상, 전년 동기 대비 250% 이상 증가했다. AI 인프라 전반의 중간 버스 컨버터(IBC) 응용처에 쓰이는 중전압 MOSFET 수요 등이 성장을 견인했다.

경영진은 AOS가 생산능력에 대한 설비 투자, 제품 개발, 고객 인증 등을 통해 클라우드 및 하이퍼스케일 생태계 전반으로 영역을 넓히고 있다고 밝혔다. 다만 전통적인 PC 관련 매출은 전 분기 대비 약 30% 감소했다.

통신

통신 부문 매출은 3,780만 달러를 기록해 전 분기 대비 15.0%, 전년 동기 대비 15.8% 증가했다. 해당 부문은 전체 매출의 21.3%를 차지했다.

배터리 보호 회로 모듈 매출은 미국의 주요(티어 1) 고객사의 플래그십 스마트폰 생산 확대에 힘입어 전 분기 대비 50% 이상 증가했다. 경영진은 또한 다중 배터리와 전용 보호 회로를 사용하는 폴더블 및 멀티스크린 기기에서 탑재 가치가 높아질 잠재력에도 주목하고 있다.

전력 공급 및 산업

매출은 3,870만 달러로 전 분기 대비 29.2%, 전년 동기 대비 38.8% 증가하며 전체 매출의 21.8%를 차지했다.

성장은 전원공급장치, 전동공구, 모터 제어 및 직류(DC) 팬 부문에서 비롯됐다. DC 팬 매출은 AI 서버 및 데이터센터의 냉각 요구치 증가를 일부 반영해 분기 사상 최고치를 기록했다.

가전

가전 부문 매출은 1,610만 달러로 전 분기 대비 22.9%, 전년 동기 대비 31.4% 감소했다. 전체 매출에서 차지하는 비중은 9.1%였다.

하락세는 가전제품, 게이밍, 웨어러블 전반에 걸쳐 나타났다. 경영진은 게이밍 부문의 부진 원인 중 하나로 현 콘솔 주기의 성숙화를 꼽았으며, 웨어러블 수요는 여전히 부진했다고 설명했다.

경영진 가이던스

12월 분기 실적과 관련해 AOS 경영진은 다음과 같은 전망을 제시했다.

경영진은 전통적인 PC 부문의 뚜렷한 부진에도 불구하고 전체 매출이 전 분기 대비 소폭 증가하고 전년 동기 대비 약 10% 증가할 것으로 전망했다.

부문별로는 첨단 컴퓨팅이 또다시 분기 매출 사상 최대치를 달성할 것으로 예상되나, 전체 컴퓨팅 부문 매출은 전 분기 대비 한 자릿수 중후반대의 감소세를 보일 것으로 전망된다. 통신 매출은 10%대 중반의 성장률, 전력 공급 및 산업 부문은 한 자릿수 후반의 성장률을 기록할 것으로 예상되며, 가전 매출은 대체로 보합세를 유지할 것으로 전망된다.

위험 요인 및 주시 사항

• 높아진 메모리 비용과 전반적인 부품 부족 현상이 전통적인 PC 수요를 지속적으로 압박하고 있다. 경영진은 이러한 어려움이 단기적으로 지속될 것으로 보고 있다.
• 상승한 메모리 비용은 중국 내 스마트폰 가격 접근성에도 영향을 미치고 있어 일부 제조사들이 부품 사양을 낮추고 원자재 명세서(BOM) 비용을 절감하도록 유도하고 있다.
• 가전제품 수요는 특히 게이밍, 웨어러블, 백색가전 분야에서 여전히 침체되어 있다.
• 장기 전망이나 확약 주문 등을 통해 일부 영역에서 AI 수요 가시성이 개선되고 있으나, 시장의 일부는 여전히 비교적 초기 단계에 머물러 있어 정상적인 계절성을 확립하지 못했다.
• 경영진은 생태계 파트너들과 800V AI 서버 관련 기회를 지속적으로 모색하고 있으나, 상용화 시점과 관련해서는 특별한 진전 사항을 밝히지 않았다.

애널리스트 질의응답(Q&A) 주요 내용

경영진은 전 분기 대비 150bp 개선된 매출총이익률의 주된 요인으로 제품 믹스를 꼽았으며, 첨단 컴퓨팅 및 AI 제품군이 수익 구조의 질적 향상에 기여했다고 설명했다. 전반적인 가격 환경이 소폭 우호적으로 돌아섰으나 그 영향은 상대적으로 작았다.

AI 고객 다변화와 관련해 경영진은 전원공급장치 및 모듈 제조사 전반에서 중전압 MOSFET 채택이 확대되고 있다고 밝혔다. 모듈 제조사를 통한 판매는 단일 대형 수주 기회에 의존하지 않고 여러 최종 고객사에 노출되는 이점을 제공한다.

현재 AI 및 서버 관련 매출의 대부분은 1년 전에는 매출이 발생하지 않던 소켓에서 발생하고 있다. AOS는 추가적인 디자인 윈(채택 수주)을 지속적으로 확보하고 있으며, 프로그램 양산이 확대됨에 따라 다음 역년(calendar year)에도 해당 사업이 성장할 것으로 기대하고 있다.

경영진은 해당 사업의 매출 비중이 확대됨에 따라 첨단 컴퓨팅 또는 AI 부문의 실적을 별도로 공시할지 여부와 시점을 검토 중이다. 또한 기존 자사주 매입 프로그램에 따라 1,000만~1,200만 달러의 여력이 남아 있으며, 이사회는 자본 배분 방안을 지속적으로 평가하고 있다고 덧붙였다.

실적 발표 컨퍼런스콜 전문

전체 실적 발표 컨퍼런스 콜 녹취록

경영진 발표

Operator

Hello, everyone. Thank you for joining us, and welcome to the Alpha and Omega Semiconductor Fiscal Q1 2027 Earnings Call. [Operator Instructions] I will hand the call over to Steven Pelayo of Investor Relations. Please go ahead.

Steven C. Pelayo

Good afternoon, everyone, and welcome to Alpha and Omega Semiconductor's conference call to discuss fiscal 2027 first quarter financial results. I'm Steven Pelayo, Investor Relations representative for AOS. With me today are Stephen Chang, our CEO; and Yifan Liang, our CFO. This call is being recorded and broadcast live over the web.

A replay will be available for 7 days following the call via the link in the Investor Relations section of our website. Our call will proceed as follows today. Stephen will begin with business updates, including strategic highlights and a detailed segment report. After that, Yifan will review the financial results and provide guidance for the December quarter. Finally, we will have a Q&A session.

The earnings release was distributed over the wire today, November 5, 2026, after the market closed. The release is also posted on the company's website. Our earnings release and this presentation include non-GAAP financial measures. We use these non-GAAP measures because we believe they provide useful information about our operating performance that should be considered by investors in conjunction with the GAAP measures.

A reconciliation of these non-GAAP measures to comparable GAAP measures is included in the earnings release. We remind you that during this conference call, we will make certain forward-looking statements, including discussions of the business outlook and financial projections. These forward-looking statements are based on management's current expectations and involve risks and uncertainties that could cause our actual results to differ materially.

For a more detailed description of these risks and uncertainties, please refer to our recent and subsequent filings with the SEC. We assume no obligations to update the information provided in today's call.

Now I'll turn the call over to our CEO, Stephen Chang. Stephen?

Stephen Chang

Thank you, Steven. Welcome to Alpha and Omega's fiscal 2027 first quarter earnings call. I will begin with a high-level overview of our results and then discuss performance across our end market segments. We delivered September quarter revenue of $177.8 million, up 4.3% sequentially and down 2.6% year-over-year, slightly above the midpoint of our guidance. Non-GAAP gross margin improved to 25.2%, compared with 23.7% in the June quarter, and our non-GAAP loss narrowed to $0.07

per share.

Our results reflect the accelerating momentum in AI infrastructure, even as traditional PC and Consumer markets face increasing headwinds. Advanced Computing revenue, which includes AI, servers, and graphics cards, increased more

than 50% sequentially and 80% year-over-year, reaching nearly 23% of total company revenue ahead of our expectations.

Importantly, AI and server applications accounted for nearly 90% of Advanced Computing revenue and approximately 20% of total company revenue, compared with just 5.5% a year ago. This rapid expansion underscores the tangible progress we are making in transforming AOS into a higher-performance power semiconductor company.

Meanwhile, elevated memory costs and growing component shortages continue to weigh on

Traditional PC demand, contributing to a sharper-than-expected decline in that market. Consumer Electronics also remained weak. Despite these headwinds, strong growth in AI and servers, along with increased shipments of premium smartphone battery protection solutions, power tools, DC fans, and power supplies helped offset much of the weakness in our traditional markets and supported sequential revenue

growth and improved gross margins.

With that, let me cover our September quarter segment results and preliminary outlook for December.

Starting with Computing. September quarter revenue was $83.2 million, down 2.0%

sequentially and 14.3% year-over-year, representing 46.8% of total revenue. The headline result masks a significant shift in mix. Led by our strong AI and server business, Advanced Computing grew more than 50% sequentially, nicely ahead of our guidance for growth of more than 40%, while traditional PC-related revenue declined approximately 30% sequentially.

We are seeing growing adoption of our power solutions across AI infrastructure, including robust medium-voltage MOSFETs for intermediate bus converter applications. These opportunities broaden our BOM content and customer relationships as our portfolio evolves toward higher performance solutions.

Within Advanced Computing, AI and server-related revenue grew more than 65% sequentially and more than 250% year-over-year. We continue to expand our presence across major cloud and hyperscale ecosystems, supported by targeted investments in manufacturing capacity, product development, and customer qualifications. These efforts are broadening our opportunities across increasingly complex power conversion architectures and positioning us for sustained growth.

Looking ahead to the December quarter, we expect Advanced Computing to reach another quarterly revenue record, led by continued strength in AI and server applications. However, worsening demand for traditional PCs, compounded by elevated memory costs and broader component shortages, is expected to more than offset this growth. As a result, we anticipate total Computing revenue will decline mid-to-high single digits sequentially.

Turning to the Consumer segment, September quarter revenue was $16.1 million, down 22.9% sequentially and 31.4% year-over-year, representing 9.1% of total revenue. Results were slightly better than our guidance, with broad-based declines led by lower shipments in Home Appliances, Gaming, and Wearables. Gaming continued to reflect the maturity of the current console cycle, while wearable demand also remained soft. For the December quarter, our planning assumptions suggest Consumer revenue will be flattish sequentially, although the outlook varies by application.

Next, let's discuss the Communications segment, September quarter revenue was $37.8 million, up 15.0% sequentially and 15.8% year-over-year, representing 21.3% of total revenue. Results were above our guidance for growth of approximately 10%. The sequential increase was primarily driven by a strong ramp in battery protection solutions for our Tier 1 U.S. smartphone customer.

Battery PCM revenue increased more than 50% sequentially, benefiting from new flagship smartphone production ramps. Our differentiated battery protection technologies continue to address increasing charging currents and higher performance platforms, driving higher BOM content per device.

Looking ahead, we see additional content expansion opportunities as smartphone designs evolve, particularly with the growing adoption of foldable and multi-screen devices that incorporate multiple batteries, each requiring dedicated protection circuitry. However, these gains were partially offset by softer demand in other regions, particularly China, where rising memory costs are pressuring smartphone affordability and prompting some manufacturers to reduce component specifications and overall BOM costs.

For the December quarter, we expect Communications revenue to grow mid-teens sequentially, driven by continued momentum in our premium smartphone programs, particularly battery PCM. Finally, Power Supply and Industrial revenue was $38.7 million, up 29.2% sequentially and 38.8% year-over-year, representing 21.8% of total revenue.

Results were in line with our guidance for sequential growth of nearly 30%, driven by strength across power supplies, power tools, motor control, and DC fans. We are particularly encouraged by the recovery in power tools, where improving end-market demand and increased business with a major customer are contributing to growth.

DC fans also achieved record quarterly revenue, reflecting a substantially higher underlying revenue run rate compared with last year. This growth is supported in part by increasing cooling requirements in AI servers and data centers, further expanding our participation in the AI infrastructure ecosystem beyond traditional computing power conversion.

In the December quarter, we expect Power Supply and Industrial revenue to grow high-single digits sequentially, primarily driven by strong E-Mobility demand for electric motorcycles and scooters in emerging markets. We also expect AC-DC power supplies and power tools to remain resilient, supported by continued demand across their respective end markets.

In closing, our September quarter results demonstrate meaningful progress in AOS's transformation toward higher-performance, higher-content applications. Advanced Computing now represents nearly half of our Computing segment, and growing demand for AI infrastructure is creating additional opportunities in adjacent applications such as server cooling and power supplies.

This momentum helped offset continued weakness in traditional PCs and consumer electronics. More importantly, the richer product mix is showing up in our margins. Non-GAAP gross margin improved 150 basis points sequentially. Our expanding participation in high performance AI power applications, particularly differentiated medium-voltage MOSFETs, is improving the quality of our revenue and contributing to a more attractive margin profile.

Turning to the December quarter, which is typically a seasonally softer quarter for us, we anticipate a more balanced and resilient demand profile to drive counter-seasonal growth. We expect total revenue to be up slightly sequentially, and up approximately 10% year-over-year, despite significant weakness in traditional PCs.

Importantly, our growth story extends well beyond AI and Advanced Computing. We expect Communications revenue to increase at mid-teens sequentially and more than 20% year-over-year, reflecting continued strength with our Tier 1 U.S. smartphone customer. Similarly, Power Supply and Industrial revenue is expected to increase by high single digits sequentially and more than 50% year-over-year, supported by improving demand across applications including Power Tools and E-mobility.

These trends demonstrate the increasing breadth of our growth drivers and the tangible progress of our business transformation, as we leverage our technology leadership, premier customer relationships, and total solutions strategy to capture opportunities across a more diversified portfolio of higher-value markets, while positioning us for further margin improvement as our business scales.

At the same time, we remain mindful that market conditions are uneven. Elevated memory costs and other component constraints continue to weigh on traditional PC demand, and we do not expect a near-term PC recovery. Notwithstanding this headwind, we believe our expanding relationships across hyperscalers, ODMs, power supply manufacturers, and other ecosystem partners, combined with our disciplined investment and growing BOM content, position us well to capitalize on the long-term opportunities ahead.

With that, I will turn the call over to Yifan for a discussion of our fiscal first quarter financial results and our outlook for December. Yifan?

Yifan Liang

Thank you, Stephen. Good afternoon, everyone, and thank you for joining us. Revenue for the September quarter was $177.8 million, up 4.3% sequentially and down 2.6% year-over-year. In terms of product mix, DMOS revenue was $137.2 million, up 21.1% sequentially and 26.4% over last year. Power IC revenue was $38.7 million, down 30.2% from the prior quarter and 46.8% from a year ago. Assembly service and other revenue was $1.9 million, as compared to $1.7 million last quarter and $1.3 million for the same quarter last year.

Non-GAAP gross margin was 25.2%, compared to 23.7% last quarter and 24.1% a year ago. The quarter-over-quarter increase was mainly impacted by better product mix. Non-GAAP operating expenses were $45.9 million, compared to $45.3 million for the prior quarter and $41.4 million last year. The slight quarter-over-quarter increase was primarily driven by higher personnel-related expenses. Non-GAAP quarterly EPS was $0.07 loss, compared to $0.13 loss per share last quarter and $0.13 earnings per share a year ago.

During the quarter, the majority shareholder of the JV company injected approximately $344 million of capital into the JV company, and the JV company used a portion of the proceeds to completely retire the equity interests of all shareholders whose interests were smaller than ours. As a result, we recognized a $4.0 million gain and our equity interest in the JV company decreased from 18.9% to 15.1%. The $4.0 million gain from this transaction was excluded from our non-GAAP EPS for the quarter.

Moving on to cash flow. Operating cash flow was $5.6 million, compared to negative $10.0 million in the prior quarter and $10.2 million last year. EBITDAS was $12.2 million for the quarter, compared to $10.1 million last quarter and $19.4 million for the same quarter a year ago.

Now let me turn to our balance sheet. We completed the September quarter with a cash balance of $175.2 million, compared to $180.8 million at the end of last quarter. Net trade receivables increased by $10.5 million sequentially. Days Sales Outstanding were 26 days for the quarter, compared to 23 days for the prior quarter.

Net inventory decreased by $5.1 million quarter-over-quarter. Average days in inventory were 133 days for the quarter, compared to 138 days for the prior quarter. CapEx for the quarter was $9.2 million, compared to $14.9 million for the prior quarter. We expect CapEx for the December quarter to range from $12 million to $14 million.

With that, now I would like to discuss December quarter guidance. We expect revenue to be approximately $180 million, plus or minus $10 million. GAAP gross margin to be 25.1%, plus or minus 1%. We anticipate non-GAAP gross margin to be 25.7% plus or minus 1% GAAP operating expenses to be $52 million, plus or minus $1 million.

Non-GAAP operating expenses are expected to be $46 million, plus or minus $1 million. Interest income to be $0.4 million higher than interest expense and income tax expense to be in the range of $1.1 million to $1.3 million. With that, we will now open the call for questions. Operator, please start the Q&A session.

Operator

[Operator Instructions] Your first question comes from the line of Tore Svanberg from Stifel.

질의응답

Cam Tierney

This is Cam Tierney on for Tore Svanberg at Stifel. Congrats on the strong results and guide here. I wanted to ask a little bit about what drove the gross margin beat? And maybe can you talk a little bit about the contribution between utilization and pricing? And is advanced computing a component of that beat?

Yifan Liang

Sure. Yes, it's good to see our gross margin continues to grow from the June quarter to September quarter. And then yes, this 150 basis point improvement in the September quarter was mainly contributed by the better product mix. So pricing played some role to the less extent. So the overall pricing environment now is continue to improve. So we were glad to see that, overall, it turned from the neutral position in the June quarter to, I would say, slightly favorable in the September quarter. So okay.

Cam Tierney

Yes. Perfect. And then just for my follow-up, it sounds like last quarter, you kind of communicated that September would be a bit of a trough for the PC market. It sounds like maybe that it's gotten worse, I guess, in looking out into the December quarter based on the implied guide, which isn't surprising. But I just wanted to get a sense if you -- get a handle on if you guys have a sense of when you think that market might bottom into next year?

Stephen Chang

Sure. This is Stephen. Yes, like we commented on the call, we do see a sharper correction in the PC side due to the various constraints that, that market is dealing with -- so we saw the bulk of that drop happening in the September quarter, but we do think that these challenges will continue to persist in the near future. And we continue to monitor closely.

Fortunately, it's not the only market that we're participating in, but we are watching it closely, especially as it goes into kind of the lower season of the normal PC seasonality. So it's still an important market for us. It's very related to our business going into advanced computing. And so we will be carefully watching...

Operator

Your next question comes from the line of Tyler Burmeister of Lake Street Capital Markets.

Tyler Burmeister

Congrats on the strong quarter and the solid guide here. So first, it's been asked before, but ask it again, with the AI and server business being so strong, do you guys have any updated plans on potentially breaking that out into its own segment just to give investors a better view of that business and the underlying PC and broader compute segment business. Just an update your thoughts there.

And then I'll just add another one in quick. Any update on the 800-volt AI server opportunity? I think last time we talked, you said first revenue could be in '27. Just wondering what an update there might be...

Stephen Chang

Sure. Thank you. I appreciate the comments. Yes, advanced computing, especially the AI portion is suddenly becoming a bigger portion of our business. We said in the call itself is 23% of September revenue and AI portion alone is itself 20% of revenue. So it is a question that we are discussing internally at what the timing or appropriate to do that. But it is something that we try to be more explicit in describing our business because it is a very important part. It is the key reason why the margin is improving because of that margin.

Now that was the first part of your question. The second question was on the 800 volts. That portion, yes, we continue to work with the various partners in the ecosystem to continue to promote and design in our solutions. So we don't have a really major update at this point right now and just that we are progressing along with that.

And it's good to see, again, the power levels going up with 800 volt. And our entry into that middle stage conversion puts us -- positions us very well with our customers and with our products. So not only for medium voltage, but also going into upwards into our wide bandgap solutions as well.

Tyler Burmeister

That's great. I appreciate that color. And then on the PCs, maybe looking at it a little bit differently, it seems like you're underperforming the TAM declines and not to ask you to count on the market outlook, but do you think going forward or at what point in the future, could we return to whatever the market might be, but you being.

able to at least be in line to outperform that market?

Stephen Chang

Sure. I think from what we see in our place in the supply chain is there is correction that happens. Our customers were building at a higher production level beginning in the first 2 quarters of the calendar year. And as we went into the September quarter, that's when we saw that that's when they saw that the demand or the expected production was going to drop.

So -- so it's a correction that's happening there in our portion of the supply chain. Yes, we are watching closely at this, and we hope that our customers can resolve their shortage situation and we can get back to a normal market. But for now, we're just watching carefully.

Tyler Burmeister

Understood. Understood. And then last one for me, just on capital allocation, strong cash balance with the stock at the current levels down here. It sounds like a lot of obviously positive things going on. I wonder your thoughts about capital allocation and maybe a stock buyback in particular.

Yifan Liang

Sure. Yes. And then we -- our Board also evaluate the capital allocations from time to time. So at this point, our buyback program, we still have about $10 million to $12 million available with our existing buyback program. So yes, those are watching the stock market. So we'll see.

Operator

Next question comes from the line of Patrick Muth with Needham & Co.

Patrick Muth

Congrats on the solid results. This is Patrick on for David Williams over at Needham. I guess first question is on customer diversification and demand visibility. So how diversified has the AI server business become across customers and platforms? And are you guys beginning to receive longer-term demand forecast or capacity commitments that improve your visibility into 2027?

Stephen Chang

Yes. So I think as we've spoken before, we are happy to see the diversification, that's both in terms of the application portions as well as from a customer base especially now we're seeing the MOSFET, medium-voltage MOSFET, especially in the high-performance portion really gaining traction.

And this is going into various types of end customers from power supply makers to module makers. And for right now, we've been emphasizing especially the module makers and they sell into their various end customers themselves. So this provides a little more diversification than simply just going after big opportunity. So we are happy to see that part of the business grow.

We are getting more visibility into it. In some areas, we are seeing -- we're getting more longer-term commitments or visibility of forecast. Other areas, and this is also -- some areas are still relatively new too. So we're not in a typical -- there's no seasonality happening just yet because overall, this AI program is something that's really taking off in the beginning of this year until...

Patrick Muth

Okay. Great. And then maybe on the design wins as a follow-up. So obviously, advanced computing has been growing substantially faster than overall than the overall business. But how much of that growth is coming from new platform design wins and expanding content versus increasing volumes on existing sockets?

Stephen Chang

Most of these sockets actually didn't exist in terms of revenue this time last year. So the bulk of it, I would say, relatively new for us as a company. So -- but that said, we are continuing to secure additional design wins for -- to secure more business for the future. We are expecting that this business will continue to grow going into the next calendar year as we continue to ramp as well as these programs gain further traction.

Operator

[Operator Instructions] There are no further questions. At this time, I will now turn the call back to Stephen for closing remarks.

Stephen Chang

Okay. Great. Before we conclude, I'd like to highlight a few upcoming investor events management team will be participating in. First is the 30th Annual UBS Global Technology and AI Conference on December 2 in Scottsdale, Arizona. Then the Wolfe Research Virtual Small and Mid-Cap Conference on December 3 and the 15th Annual CEO Summit on December 15 in New York City.

If you wish to request a meeting, please contact the institutional sales representative at the sponsoring bank. This concludes our earnings call today. Thank you for your interest in AOS, and we look forward to speaking with you again next quarter. Take care.

Operator

This concludes today's call. Thank you all for attending. You may now disconnect.