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But I am trying to give you my best view of our business and how I believe it will layer in, in the next year. So production wins for EOS also with Alfa customer you talked about last quarter, you would expect that to potentially materialize in the first half of …. Right, right. So once they have working silicon then we go through the normal design process and I think most people on this call understand that smartphone design processes can take anyway from six to nine months.
Our next question comes from the line of Gary Mobley with Benchmark. Hi, Andy. Hi, Brian. Welcome to the call. I had a question about EOS, and how it differentiates from the S2 from a customer perspective and from an end market perspective, correct me if I am wrong. But is it transformed for the company from the perspective that it allows you to address the smartphone market more ably versus what you had in the S2 product portfolio which was for the most part confined to wearable devices type design wins?
I think that you hit the nail on the head Gary. When we first came out with the S2, we believe that the market would need to have always on context awareness and that the MCUs could not do that as these applications got more complicated. It turned out that the MCUs could handle that with very low duty cycles, in other words, were mostly off as opposed to on and also you're dealing with a phone that had a much bigger battery.
We also said as we were trying to tell people that the S3 what you were calling the ArcticLink 4 S3 probably a year ago, that that was always being targeted for flagships smartphones. And I think you can see from the architecture — the brief architectural, the description that Brian gave you, that this was every bit of what MCU guys were doing in MSOP. We call it a multi core because it has three hard cores and we can also put a fourth hard core in a programmable logic.
And so the possibilities and the capabilities of this product are really amazing. And frankly, the real technical savvy, technical press people that have heard about this are really amazed that an FPGA company has come up with this type of programmable, really SoC. Could you give us an update on the longevity and the health of your video bridge design win with Samsung?
So I'll speak in general terms because due to non-disclosure agreements, I can't be specific about Samsung in this business or the roadmap. But I will say that in general when we look at all of our customers that were selling the bridges into, the display bridges, we do see that growing well into We continue to get new designs as Andy motioned, the designs, we do have we keep getting forecast that we saw before.
And so we're optimistic about its going to well into I see in you balance sheet you have a line item, deferred revenue of about ,, is that indicative of the upper end license payment for the algorithms and is there any ongoing royalty component to it and if not could you maybe talk about how you can transform that seemingly very small license payment into something more meaningful revenue contributor, whether it be in the form of royalties or actual parts?
We have a very little software revenue thing in the Q2, but I like to say that, we have — our software revenue recognition policy that we have a three main component. First, that we have fixed range of maintenance, the support portion which we recognized over the term of the contract.
And we — the major part of it is license fee we recognized in the quarter that we invoiced to customer. The third part is the royalty revenue, that we recognized the quarter after customer ship their product. We spent quite a bit of time with our auditors structuring a software licensing policy that would be obviously confirming and that's why we divided up into these three buckets.
Last question from me, it relates to the cost cutting initiative. The handful of employees that were laid off, was that sort of across the board, administrative, squeezing so to speak or is it specific to a project that was not going to generate sufficient ROI? And there was two people that we would call technical or they were going to replace one of them down here and that we closed our Canadian operations.
I'd like to go back to some of the color you provided to Krishna, when you were looking beyond the third quarter. Two conference calls ago, Ralph suggested that next year would be the likely breakeven year. Does that still the…. It is Rick. As a matter of fact, we've done a first rollup of next year. I had the organization do that ahead of one we normally do it. And it does showed that we will be breakeven by the end of next year.
Given all of the forecast and so on and so forth. And that would be breakeven in quarters by the end of the year, not for the entire year? Well, so right now we see obviously it depends on what gross margin we're getting and it also depends on the timing of the expenses that we have for new chip development, because as you know we have somewhat of a variable chip development model.
I was just going to say so, if you can get back to where you were in 1Q, '14 that would be breakeven versus the small…. Your cash situation is it enough to reach that breakeven point in the second half of next year? We believe that our current liquidity with both our cash and our line of credit will also put us to reach that point. Of course, if the ramp is of new product shipments that exceeds expectations we may need to reach out for some more working capital.
But of course, I think that be a great problem to have. And looking — I am little confused by your comments on smart connectivity. Can you explain how you — on one hand are growing smart connectivity design wins, but the revenue is not growing?
I'll take that one. So first of all I think you may know, that there is been some fundamental shifts in the demand for PHS handsets in Japan due to some carrier acquisitions going on over there. And Rick you may recall that maybe a couple years ago as we were going through our design activity before we got into the sensor market, the PHS market was pretty prominent.
In our earnings call release as we talked about various design activity. So those designs have been shipping for a while now and now they tend to be bottoming out, as Brian said, mostly because of a shipping carrier and the focus of PHS market in Japan. Appreciate that color. One other subject, concerns your SenseMe algorithm library.
Going forward are you looking at a lot of licensing activity independent of your silicon going forward? In general is that part of the color you were giving to Krishna? I think that was the part of the color we were trying to give. They like the fact that they have options where they can have world class algorithms in their own systems or in our devices at lower power.
It really comes down to a timing question with the customer, they maybe out of point in their roadmap, where they are willing to spin hardware to adopt these algorithms and our silicon or they maybe at a point where they can't change hardware.
But they really still want to have access to the high quality algorithms that we have. How quickly can say a smartphone OEM add to SenseMe library to an existing piece of hardware if it just wants to license your software? It really depends on the OEM that we're talking about and how familiar they are with the inner workings of the sensor framework and Android. So, a OEM with product launch late this year or early next year could conceivably decide the license SenseMe but not use a silicon to their next model, is that what you're saying?
One last question is more of a financial accounting question. Is there an issue with developing vendors specific objective, rather than for recognizing your SenseMe revenue if it starts to grow? We realized that problem, we discussed with our auditors. So our option actually we pulled that into our software license agreement as well. We've fixed standard of range for our PCS which is support and maintenance support portion. So we'll be able to [indiscernible] this amount from a license revenue to be able to recognize that a net license revenue in a quarter were avoid.
Thank you. Thank you for taking the call. I wanted to start on the S3 if I could, you indicated that it should sample sometime in the next 60 days? I was looking to see if I could get a little more color on that, like has it taped that yet?
And what we committed to customers, as well as the press that we've been briefing is September So will you have that in house for some period of time before it goes to customers or will it go from here directly to the customer or from the staff to the customer? In the case of these, early take up spot, we always bring silicon back in house. We have all the systems and the engineers here ready to do all the verification that they've been preparing for.
I'll actually will remind you that Andy talked about the emulation system that we've been giving out to this top tier guy already for working with functionality of the silicon, you can imagine that all of the verifications which are actually build up around that emulation system and so when the silicon actually comes back here all of the infrastructure will be set up to do a very quick verification, so that we can get the samples out to the customer.
I am pleased to hear that. Clearly this program was I presume was now in primarily a smartphone OEMs and it sounds like that you have one customer and that its going to be hard for that customer to get safeguard [ph] six to nine months lead time, its going to be end of first half before revenue — US revenue, is that the way to look at that?
So I think with rewards guys I think you can certainly go with that timeframe, once we have the silicon out with the general population I can tell you that there are a lot of people that have looked at our S2 and said that the S2 does not have sufficient compute technology. They like — and they do know about the S3. So with the Alfa customer I think it is safe to say that they will follow along those lines for sure.
If you look at the entire solution, what is that capability give customers? So basically what it does, as it allows people to do voice recognition for things like okay, Google call Bob West, that entire phase matching it, what I just said commit and deeply embedded at very lower power in our device without waking up the apps processor. The result is that people can have more voice recognition, enable the applications in their products from phones to wearables, knowing that the high net silicon is actually a very reputable voice recognition company and sensory.
The voice recognition software calls really hands free, they've actually I think I had a footprint that we said over a 1 billion smartphones today have already shipped with it. So they definitely licensed that already for phones and watches, I believe in Moto watch uses that for their okay Google what's step count, what's the temperature today type functionality and also some of the larger, very large smartphone OEMs also have existing licenses.
Very good. That sounds like really and usually good program and high demand program potentially. The readiness to roll this out is pretty complicated, chip it seems to me, to roll this out and be ready to go, as I compare with the S2. So how is the US different? Yes, that was sort of a journey back in time that evolved. I remember when we first launched the S2, I think we had proprietary tools or proprietary instructions that we had algorithms that from a third party and the developments as from that we have our demo [ph] systems actually had to be carried in large box and plugged into lawn and if we go now to what we have, I think you can step back and to see the maturity of the development tools that we have available now.
We have the software tools for the EOS field have direct plugged into a clips IDs which is the standard tool that software programmers use. And the reference designs even recently not just leading for the S3, now attached to your wrist and can go for hours evaluating the algorithms that we have. So when we sample the silicon on September 25 that includes more than the silicon, that includes algorithms running on the EOS S3 platform, it include software tools that we can enable our customers with and it will include the first reference design that falls into the more phone factors category.
So all of those are what we call ready for EOS. What about your wearables and changes need to be made there for this new architecture or this EOS architecture when will they be ready? Thanks for that help.
Now I guess one other question, I think a quarter two back you first mentioned having a safe compiler for S2, and well that compiler - is that compiler available, is that what you were saying, is that compiler is available for the EOS as well? But that can also be used for S2. Is it reasonable to take a way that you point, that your tool sets are really very near ready to go with the EOS and should be even more ready at a point that EOS goes to production or qualified? In fact, again to deliver the emulation environment to the lead, also engagement we have to had those tools in place to support that.
So in fact the tools were ready a couple months ago. I want to turn, Andy I want to turn my question if I can to wearables for minute, or maybe Brian. The — it was reported in the press last summer, or earlier in the summer and spring that there is been cooling off of the wearable euphoria and of course with the Apple iwatch launched it caused some push out or shrinkage - it caused the same like and push out of OEMs interest and when they launched.
Can you add a little color to what you've already said about that, does this look like its — was eight wearable shipping this quarter, I have four last quarter and the fifth one in early July. I'll start with and then Brian will probably chime in. And actually we would be a companion in that brand. The other type of wearable is the fitness wearable and frankly we see an increase in that market. And there is a lot of reasons why we think it will be increased not the least of which is geared towards healthcare and fitness and certainly with rise in cost of healthcare there is going to be a lot of more attention put on that for each individual.
Brian, do you want to add anything to that. Moreover, I think a lot of people they get frustrated when watches last a day like a smartphone and you have to plug it in. We see there is a lot of interest and demand coming for watches that last three days, five days, seven days where you can really wear it all day, get analysis of your body during the day, including your sleep and start giving you recommendations on how to improve your life.
Not just simple notification that you receive a text message or an email. And I think those are the ones that are going to be interesting for us moving forward, not just in terms of volumes but also just how it align so well with our value proposition. Yes, Bob, I can send you a couple of analyst reports that one says that they believe that the wearable market is gone beyond the obvious phase. I wanted to ask you a little more color if I could on the major Chinese ODM that has an open platform a smart watch for kids, is this program shipping now?
They do. So is that going to be a broad release or is it going to be channel on radar while be in the US, do you have a feel for that? I know that you can buy it if you are in the US, I did. And you can definitely buy it in other countries in Asia. But I do know that they are shipping that and they are also looking at what their next generation maybe.
Thanks for that. I want to come to algorithm quality, historically and with as you should, you've provided the quality and accuracy of your market leading barometer. What about the other dozen of algorithms that you have such as, I just have a number of areas, how do they stack up in quality and accuracy and compared to the barometer?
But we do pride ourselves in maintaining a very strict key performance indicator target quality algorithms. I will say Bob now that you're asking this question, I think the more important thing with our algorithms is that we are disciplined-guiding them for the lowest power and to only use the excel barometer in these systems. If we can start minimizing the number of sensors required by the OEM to get a good accuracy those are win from a batter life in front of you. Good, I represent it to single side.
So here is the next question on algorithms, are you to a point that there is willingness by licensee to adopt quick SenseMe branding, will we see a SenseMe inside or conceptually and in the future do you think? If we can get to the point where at SenseMe inside at all, I'll definitely view it ecstatic. Okay, great. Another question on licensing, the licensing program, can you give some color on how many engagements you have for licensing are you creating an engagement form like you did the S2 and will do the S3, coming out of the OEM….
I mean, we tracking agents the same way Bob, we treat them with the same level of seriousness and obviously workings done a little bit different because its software versus hardware. So multiple in our mind is more than three. All of the devices that we have Bob for the sensor processing are reprogrammable they are non-volt [ph] so where you can't change the code.
So in fact we give the customer stay when we do bring the systems we can send over here to them or through email and algorithm updates for them to try to on a device. But as you move toward the smartphone with EOS it seems like the volume, predictable volume there is much more — much more predictable and I was going back and looking at Android market top nine there I guess, then if you exclude the Samsung the top eight, and each of — on an average they are shipping about 12 million units a quarter as I averaged across all eight Android that people below the Samsung level?
That suggest that an order on there could be — of their leadership falling — flagship smartphone could be maybe 3 to 5 million units a quarter, would that be reasonable or not? I think it was the strong brand behind that in fraction it could be in that range.
But generally speaking smartphones are not built in the OEM things that can ship a million or more units. Our next question comes from the line of [indiscernible] Your line is now open. Hi, guys. Thanks for that detail on the EOS and I look forward hearing more about that tomorrow. I wanted to ask a little bit about you mentioned that there is two categories or kind of werables or dividing into two categories, which is something that we've kind of heard from different sources for some time and I am wondering if there is a — I know this is also an emerging area.
But is there — have seen a virtual reality, am I mistaken in thinking that virtual reality is going to require a lot of sensors and are there some functions beyond voice activation or step counting or kind of these fitness applications that might require sensor hubs either in a smartphone or in a dedicated VR device and can you talk for that or am I mistaken about that?
Yes, I think in general anything that you want to do with a battery and if you want to have really precise control of movement, those are very good candidates for adding sensor hubs. Yes, I think — I'll go back to one of the slides that I presented, most of the M4s that are used in these types of environment [indiscernible] around a mps or so and with the COS S3 we're getting a mps.
So there is a lot of other processing headroom available to add more algorithms to the platform. Yes, I am just curious can you say if you had any specific queries in the VR department for the sensor capability? Got it. Okay, well I appreciate that. And looking forward to hearing more with the press releases. Thanks a lot and best wishes as you get through the Q2, Q3 bottom that you mentioned. And I am showing no further questions on the phone lines at this time.
I'd like to turn the call back to Andy Pease for closing remarks. Well, I want to thank you all for you continued support and I look forward to reporting our strategic progress at our next earnings calls which is schedule for Wednesday, October 28, Ladies and gentlemen, thank you for your participation in today's conference. This conclude's the program. And you may now disconnect. Everyone have a great day. SA Transcripts Andrew Pease Thank you, and good afternoon. Sue Cheung Thank you, Andy.
Andrew Pease Thank you, Sue. Brian Faith Thank you, Andy. Andrew Pease Thank you, Brian. Let me now turn the call back to Andy, for his closing remarks. Andrew Pease Again, thank you for joining us. Krishna Shankar Yes. Brian Faith So Krishna, I'll take the question about the types of products and then I think Andy will address the upcoming quarters.
Andrew Pease Yes. Krishna Shankar Okay. Andrew Pease Right. Krishna Shankar So production wins for EOS also with Alfa customer you talked about last quarter, you would expect that to potentially materialize in the first half of … Andrew Pease Yes. Krishna Shankar That into second top five customers that you announced today? Andrew Pease Right, right. Krishna Shankar Great. Brian Faith Next question? Andrew Pease Thanks, Krishna. Operator Our next question comes from the line of Gary Mobley with Benchmark.
Gary Mobley Hi, Andy. Gary Mobley Okay. Andrew Pease I'll let Brian take a stab at that. Brian Faith Yes. So, well, I am going to let Sue take a stab at that. Sue Cheung We have a very little software revenue thing in the Q2, but I like to say that, we have — our software revenue recognition policy that we have a three main component.
All right. Thank you, guys. Rick Neaton Thank you. Hello, Andy and Brian and Sue.