A few days ago, Imagination Technologies announced its 2020 performance, and its overall revenue increased by 44% to $125 million. Profits in 2020 will reach 4 million U.S. dollars, while revenue in 2019 will be 87 million U.S. dollars and a loss of 18 million U.S. dollars.
The company completed the sale of its Ensigma business unit to Nordic Semiconductor on December 31, 2020. The bank has $60 million in cash and no additional debt.
Imagination has a 35.5% market share in the smartphone GPU field and is the largest GPU supplier in the automotive industry, accounting for approximately 43% of the market. Beginning in 2019, Imagination has successively released A series and B series GPU IPs, which have super performance and can help customers gain a great competitive advantage in the GPU field. Currently, Imagination currently has six customers facing the notebook computer, desktop PC or data center market.
The new CEO Simon Beresford-Wylie said: “I believe that Imagination has entered an important stage. Compared with 2019, these preliminary calculation results represent a significant turning point. It provides an important springboard for us to achieve growth and increase profitability in 2021. The company has proven to be resilient, but this success is driven by its ability to innovate and provide services to our customers. The IP required for success in the GPU and AI-driven market."
Imagination is wholly-owned by CanyonBridge, a private equity company, and focuses on graphics and image processing technology, and its fields involve ray tracing, AI, neural network accelerators, etc.
Ray Bingham, founding partner of Canyon Bridge and executive chairman of Imagination, said: "We have ambitions for Imagination. Based on this, we have invested heavily in research and development, created an outstanding new GPU architecture, and re-energized the development of ray tracing. The company’s innovative technologies are integrated with today’s important development trends, including remote work, cloud computing, AI and autonomous driving, especially ADAS. In a challenging 2020, Imagination continues to provide customers with IP technology and drive customers’ success To provide consumers with a better experience."