Mellanox Technologies, Ltd.

Transcription

1 Mellanox Technologies, Ltd. Investor Day June 3, 2011 Eyal Waldman President, Chairman, and CEO

2 Why Mellanox? Compute and Storage systems have three basic building blocks Processor Memory Interconnect Return-On-Investment (ROI) Most systems run with less than 30% utilization I/O is the bottleneck - Waste of CapEx for the CPU and Memory - Wasting OpEx power; space; maintenance Scalability is primary issue for both compute and storage High Performance Computing (HPC) Web 2.0 mega data centers Cloud virtualized data center Mellanox Delivers the Best Interconnect for Compute and Storage 2011 MELLANOX TECHNOLOGIES 2

3 Why Mellanox? Comprehensive end-to-end solutions Virtual Protocol Interconnect - FDR 56Gb/s InfiniBand - 10/40Gb/s Ethernet Proven scalability - >10,000 servers connected in a single system InfiniBand is becoming the de-facto standard storage interconnect Alternatives - Proprietary; Fibre Channel; Ethernet (All are inferior) Fast Growing Markets HPC; Web 2.0; Database; Cloud (Virtualized Data Center); Financial Services; Storage Customers HP, IBM, Oracle, Dell, EMC, NetApp, and many more around the world First acquisition Voltaire, Ltd MELLANOX TECHNOLOGIES 3

4 Why Mellanox? Team Professional, focused on results Proven execution Twelve tape-outs with first devices going to production Leading end-to-end interconnect solution Competition is behind Mellanox has a dominant InfiniBand market share Gaining market share in the 10/40Gb/s Ethernet markets Gaining market share in multiple geographies, markets and applications Well positioned for growth in the coming years! Build to scale 2011 MELLANOX TECHNOLOGIES 4

5 Executive Summary Ticker: MLNX Solid financial position and growth Annual revenues grew 33% to $154.6M in 2010 Acquisition of Voltaire enhances competitive position New data center infrastructure opportunities Increasing networking I/O requirements High bandwidth and low-latency I/O is critical to ROI The Mellanox advantage Complete end-to-end server and storage connectivity Products lead the market in performance and efficiency Flawless engineering execution track record and expertise Priorities for 2011 Continue growing InfiniBand outside of HPC into new data center, Web 2.0 and cloud growth markets Increase market share and revenues in Ethernet market Recent Awards 2011 MELLANOX TECHNOLOGIES 5

6 2010: A Banner Year for Mellanox Record Revenue: $154.6M (33% increase) Record Non-GAAP Net Income: $36.7M (28% increase) Record Cash Balance: $253.3M Adapter IC and Card shipments grew ~38% Strong Tier-1 OEM adoption of Mellanox 10GbE adapters 10GbE adapter shipments grew ~400% Increased foothold in HPC market Mellanox now connecting ~43% of systems in TOP500 Growing penetration in database, Web 2.0, Cloud, and FSI Oracle purchases 10.2% of MLNX ordinary shares Mellanox announces purchase of Voltaire, Ltd. (Nov. 2010) 2011 MELLANOX TECHNOLOGIES 6

7 Strong Annual Revenue Growth ($M) Analyst Consensus 2011 MELLANOX TECHNOLOGIES 7

8 Strategic Acquisition of Voltaire, Ltd. (Closed Feb. 7, 2011) + First acquisition under our belt Accretive from the first quarter Enhances our penetration into Tier-1 server companies Vertical integration of silicon - Hardware and Software Higher ASP per-end-point Grew the company from 500 to 700 employees Grew 2010 revenues from ~$155M to ~$216M 2011 MELLANOX TECHNOLOGIES 8

9 Strong and Experienced Management Team Name Title Experience Eyal Waldman Chairman, President, and CEO Intel, Galileo Michael Gray CFO SanDisk, Consilium Shai Cohen COO Intel Roni Ashuri VP Engineering Intel Michael Kagan CTO Intel Yaron Haviv VP Data Center Solutions Voltaire, Scitex Eyal Babish VP Systems Hardware Elbit Systems Yiftah Shahar VP Software Engineering Voltaire, Motorola Aviram Gutman VP Software Engineering Intel Marc Sultzbaugh VP Worldwide Sales Brooktree, AT&T Microelectronics John Monson VP Product Marketing Inphi, Scintera Networks, PMC-Sierra Asaf Somekh VP Solution Marketing Voltaire, Nexus Telocation, Aptel Amir Prescher VP Business Development Voltaire Wayne Augsburger VP Business Development Cygnet, Document Imaging Systems Matthew Gloss General Counsel Marvell Einat Zuk HR Director Elbit Systems, Medatech 2011 MELLANOX TECHNOLOGIES 9

10 Leading End-to-End Connectivity Solution Provider for Servers and Storage Systems Server / Compute Switch / Gateway Storage Front / Back-End Virtual Protocol Interconnect 56G IB & FCoIB 10/40GigE & FCoE Virtual Protocol Interconnect 56G InfiniBand 10/40GigE Fibre Channel ICs Industries Only End-to-End InfiniBand and Ethernet Portfolio Adapter Cards Host/Fabric Software Switches/Gateways Cables 2011 MELLANOX TECHNOLOGIES 10

11 Mellanox s Unique Value Proposition: Virtual Protocol Interconnect Technology VPI Adapter VPI Switch Applications Unified Fabric Manager Switch OS Layer Networking Storage Clustering Management Acceleration Engines Ethernet: 10/40GbE, DCB, RoCE, FCoE InfiniBand: 10/20/40, FCoIB 64 ports 10GbE, 36 ports 40GbE 36 ports IB up to 56Gb/s FCoE, FCoIB 8 subnets LOM Adapter Card Mezzanine Card 2011 MELLANOX TECHNOLOGIES 11

12 Proven Track Record & Strong Roadmap End-To-End Server and Storage Interconnect Solutions InfiniBand (IB) 10Gb/s InfiniBand 20Gb/s InfiniBand 40Gb/s IB - 40Gb/s VPI = IB & Eth VPI NIC 10/40Gb/s VPI End-to-End Up to 56Gb/s IB 10/40GigE VPI IB, Eth 100Gb/s MELLANOX TECHNOLOGIES 12

13 Connecting the Data Center Ecosystem Hardware OEMs Servers Software Partners End Users Enterprise Data Centers Storage High-Performance Computing Embedded Embedded Medical 2011 MELLANOX TECHNOLOGIES 13

14 Multi-Billion Dollar Total Available Market Servers 7.8M 1.4M Virtualized 2.0M in 2014, 10.7% CAGR 1.5M HPC 2.0M in 2014, 10.5% CAGR 3.5M Web M in 2014, 19.6% CAGR Storage 3.4M Embedded 0.6M 2.4M Front End 3.0M in 2014, 7.7% CAGR 1.0M Back End 1.8M in 2014, 21.6% CAGR 0.7M in 2014, 5.2% CAGR Source: IDC and Mellanox Technologies 11.8M+ End Points = $4.7B TAM * in M ports available in 2014 * Assume $400 ASP per Server 2011 MELLANOX TECHNOLOGIES 14

15 Providing Unmatched Performance for Multiple Markets HPC Cloud Web 2.0 FSI Database/Enterprise Accelerating worldwide university clusters Performance-leading worldwide national laboratory clusters Wide breadth of commercial HPC deployments Large HPC Cloud facilities with Mellanox InfiniBand being built in every region Private cloud computing systems with onboard InfiniBand penetrating Fortune100 companies Web 2.0 deployments such as online mapping, ticket and airline reservations using InfiniBand Providing leading performance for worldwide exchanges, investment banks, and hedge funds Partnering with leading ISVs and server and storage OEMs Multiple InfiniBandenabled systems launched for database applications Enterprise computing systems with onboard InfiniBand and I/O virtualization penetrating Fortune100 companies Storage Providing superior storage performance for mirroring, duplication, high availability, etc. Multiple InfiniBand front and back-end storage connectivity solutions available by OEMs Mellanox VSA storage acceleration software maximizes IOPS (I/O per second) 2011 MELLANOX TECHNOLOGIES 15

16 Mellanox s Growing HPC Leadership 4 Top10 Systems 4 Top10 Systems 3 Top10 Systems 1 Top10 System 10 systems on the TOP500 SDR InfiniBand 82 systems on the TOP500 DDR InfiniBand 142 systems on the TOP500 QDR InfiniBand 215 systems on the TOP MELLANOX TECHNOLOGIES 16

17 Growth of Cloud is Shaping Network Requirements Economic conditions driving customers to focus on efficiency Data Center is a P&L Reshaping broader CIO vision Cloud efficiency heavily depends on virtualized infrastructure that is connected by high performance converged network Scalability, more jobs/sec, etc. Benefits to end-users include: Reduced TCO - Only OpEx & pay per use Dynamic response with demand elasticity Better allocation of resources Source: IDC 2011 MELLANOX TECHNOLOGIES 17

18 Mellanox InfiniBand: Unmatched Efficiency & Scalability for Web 2.0 Big Data Analytics (e.g. Hadoop) Run More jobs in parallel Faster rebalancing after node/link failure Faster data load into HDFS Ready for major increase in disks per node 2X In-Memory Caching (e.g. Memcached) More transactions per second Faster response/retrieval time More users/clients per server 13X Price-Performance More bandwidth at the same price Lower price per Gbps Lower power per Gbps 4X 2011 MELLANOX TECHNOLOGIES 18

19 Mellanox OEM Adoption for the Cloud and Enterprise Runs Oracle 10X Faster The World s Fastest Database Machine Mellanox 40Gb/s InfiniBand Accelerated 95% Efficiency and Scalability 2011 MELLANOX TECHNOLOGIES 19

20 Mellanox Global Successes in Financial Services Best performance in the market Lowest latency Highest message rates Highest persistency (lowest jitter) End-to-end solution provider InfiniBand and Ethernet Integrated in Leading Tier-1 Server OEMs offerings Dell, HP, IBM, Oracle Wide network of solution partners Unmatched financial services focus and expertise Major growth opportunities in EMEA and APAC Mellanox FSI Adoption Leadership Exchanges Over 10 Investment Banks Over 20 Hedge Funds Over MELLANOX TECHNOLOGIES 20

21 Introducing ConnectX-3 VPI Adapter and Card The Industry s First FDR 56Gb/s InfiniBand and 10/40GbE Multi-Protocol Adapter World-leading bandwidth and latency PCI Express Gen 3 enabled Converged I/O over either IB or Ethernet Next Generation Interconnect Solution for Servers and Storage High productivity for HPC, FSI, Cloud High scalability for HPC, Web 2.0, Cloud, Virtualized Data Center, and Storage The Highest Performance, Best ROI Interconnect Solution 2011 MELLANOX TECHNOLOGIES 21

22 Poised for Continued Growth Powerful trends driving large markets Solutions addressing interconnect opportunity Proven and experienced management team Strong growth and compelling margins Leading-edge product Introductions Tier-1 OEM Customers Strategic Acquisition of Voltaire 2011 MELLANOX TECHNOLOGIES 22

23 Mellanox The Future Lead interconnect solutions for compute and storage 56Gb/s to 100Gb/s and beyond Increase our market share and develop leadership positions in Web 2.0; Cloud; Storage (in addition to HPC and Database) Demonstrate top and bottom line growth Grow to more than a $1B revenue company 2011 MELLANOX TECHNOLOGIES 23

24 THANK YOU 2011 MELLANOX TECHNOLOGIES 24