|Revenue from STM barely grew in FY '21 ($89.3m to $94.6m) STM signed a deal with SiCrystal (Rohm) in Jan. 2020 so perhaps we are seeing the impact of that in FY '21?|
STM financial quarters line up with the calendar year. So it takes some effort to try and align with Cree. Their SiC revenue has been:
|Year ||Revenue |
| 2018|| $100 million for the year|
| 2019|| $200 million for the year|
| 2020|| Missed $300 million goal for year but made $300 million run rate for Q4|
| 2021|| Estimating $550 million for year (still 2 quarters to go)|
With that revenue spread with constant quarterly growth within their financial years it looks something like this.
Cree's STM revenue can also be spread at a constant quarterly growth within the Cree financial years and then converted into a percent of STM's revenue.
- If the 2021 STM ramp is completely 2nd half, the circled portion isn't real. But that would mean the 2nd half of 2021 would be around a $800 million run rate.
- Perhaps ROHM took some share or there are yearly discounts. Up until calendar end 2020 there hadn't been a sizable shift.
- The biggest factor could be that STM is now selling its 3rd Gen which is a sizable die size shrinkage. If that is a sizeable portion of the revenue and they can maintain good pricing then the percentage could have a large drop without Cree losing share.
Here is the die size shrinkage with the 3rd Gen from STM.