Global semiconductor technology and equipment firm Revasum (ASX: RVS) has had a solid Q3, sourcing a new supplier to ease its shipping backlog, strengthening leadership, and increasing gross margins despite ongoing supply chain challenges.
In an update to the ASX, Revasum said it has had a productive quarter with new equipment sales and diversified revenue streams as the company continues to grow the business after overcoming supply chain issues.
Revasum continues to accelerate the commercialisation of its industry-leading 6EZ single-wafer polisher, shipping to a strategically important customer site during the quarter. The shipped iteration features a 20% improvement in tool throughput over prior versions receiving positive feedback from customers operating in a high-volume production environment, processing tens of thousands of wafers on the tools. Revasum also remains focused on improving the performance of its 7AF-HMG grinder, implementing a Remote Control Head Angle (RCHA) feature to improve wafer shaping capability and dramatically reduce maintenance downtime.
In September, Revasum strengthened its leadership team with the appointment of experienced US-based executive Mr Bruce G. Ray as Chief Financial Officer. Mr Ray brings more than two decades’ strategic planning, financial analysis, and operations management experience to Revasum, gained within related high-tech and manufacturing industries. He has previously held CFO and Director of Finance roles at NASDAQ-listed advanced positioning solutions company Trimble Navigation (TRMB), engineering consultancy firm Cannon Corporation, broadband provider EXCITE@HOME and digital publisher Sanluisobispo.com. Post quarter-end, Mr Ray was also appointed Company Secretary.
Demand continues to remain strong for Revasum’s silicon carbide grinding and polishing technology, playing a pivotal role in the supply chain of high-growth applications such as electric vehicles, solar and 5G.
Commenting on the quarter, Revasum Chief Executive Officer, Scott Jewler said:
“It has been a productive quarter for Revasum as we booked new equipment sales, continued to diversify revenue streams, installed a 6EZ polisher at a strategically important customer’s facility, and strengthened our leadership team. While supply chain challenges have impacted our performance this year, we have now sourced and qualified a new supplier of a critical component, enabling us to start shipping our backlogged orders in the current quarter”
“We are seeing significant investment in new single wafer facilities from silicon carbide substrate and device manufacturers and are well-positioned as the industry evolves to larger wafer sizes to reduce manufacturing costs.
As a leading supplier of single wafer grinding and polishing equipment, we have leveraged our extensive silicon carbide expertise to innovate our equipment solutions, ensuring it continues to meet the volume, performance, and cost requirements of our customers”