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M A NAGE ME N T RE P O RT - OV ERV IEW
THE YEAR 2020 OUTLINED
// Operational achievements during the year: / Asetek continued its success as the leading supplier
// Record revenue of $72.8 million, 34% growth from
of liquid cooling solutions for high-end computing,
2019
shipping 1.2 million sealed loop liquid cooling units in
// Gross margins grew to 47% from 42% in 2019 // Adjusted EBITDA grew to $15.6 million from $6.2 million in 2019 // Revenue in 2020 totaled $72.8 million, an increase of 34% from 2019 ($54.3 million), mainly reflecting increased shipments of Gaming and Enthusiast products. // Gross margin expanded to 47% in 2020 from 42.3% in 2019. The growth primarily reflects a richer product
2020, compared with 895 thousand shipped in 2019.
/ The Company acquired JMH Gallows Pound Tech-
nologies Ltd., a UK-based developer of hardware and
software technology and owners of the Ultimate-
GameTech brand, for a sum of GBP 1 million
(approximately $1.4 million). As a result of this acquisi-
tion, the Company is expecting to strengthen its
intellectual property and product offerings in the
Gaming and Enthusiast market.
mix, higher sales prices for Data center products and
/ The Company announced new products in the
Asetek’s business model transition for Gaming and
Gaming and Enthusiast market:
Enthusiast OEMs that customize their liquid coolers. // During the year, Asetek earned operating income of $10.9 million ($1.0 million) and Adjusted EBITDA of $15.6 million ($6.2 million). // Asetek repurchased 844 thousand common shares during 2020 for a total cost of $6.4 million.
L I Q UI D CO OLI NG DO N E RIGHT
/ The Company announced collaboration with Hewlett
thusiast product development and marketing with
center liquid cooling solutions in HPE Apollo Systems
several brand-behind-the-brand initiatives to feature
targeting high performance computing and artificial
the Asetek logo on box packaging, websites, forums,
intelligence applications. Commercial shipments began
and packaging inserts. Initiatives also include written
in the third quarter of 2020.
features about Asetek on partners’ websites, partici-
/ Asetek’s Direct-to-Chip (D2C) liquid cooling is being utilized by Supermicro in a new high-performance computing cluster at the U.S. Lawrence Livermore National Labs. Asetek liquid cooling enables the deployment of
cooling, Asetek executives continue to work with political leaders to create a wider understanding of the
/ Asetek began delivering waste heat from its in-house data center to Aalborg Forsyning, the city’s municipal district heating network. Asetek’s RackCDU™ liquid cooling systems capture and deliver heat to the network to help warm homes and businesses in the city of
cold plate, advanced temperature sensing and quieter
Aalborg. This connection demonstrates the viability
slot-in PCIe radiator card to provide liquid cooling for
GPU’s in space constrained PC cases.
Fractal Design’s Celsius+ CPU coolers, powered by
Asetek, provide enthusiasts enhanced performance,
virtually silent operation and elegant design.
// In efforts to establish EU standards that will reduce
science and technology research.
include a new performance-engineered pump and
that the “Cooled by Asetek” mark represents.
permitted energy consumption used for data center
The new Rad Card™ GPU Cooler, the industry’s first
the commitment to performance, quality and reliability
to support compute-intensive workloads critical for
NZXT’s Kraken Z-3 and X-3 series, powered by Asetek,
pation in live events and live streams to communicate
high wattage processors in high density configurations
operation.
// Asetek increased investments in Gaming and En-
Packard Enterprise (HPE) to deliver its premium data
of Asetek’s technology in enabling power savings and reducing CO2 emissions.
significant environmental benefits enabled by liquid cooling.
