TMYTEK Debuts on TPEX with US$112 Million Valuation, Leading mmWave Innovation

TMYTEK Expands into 5G, Satellite, Automotive, and Defense

TAIPEI, Jan. 15, 2025 /PRNewswire/ -- TMYTEK (TPE 7812) debuts on the Taipei Exchange (TPEx) on January 15 (Wednesday) with a market valuation of over US$112 million. Focused on millimeter-wave (mmWave) technology applications, TMYTEK integrates software and hardware to deliver testing equipment, phased array antenna modules, and system solutions. These solutions are widely applied in 5G/B5G communications, satellite communications, automotive radar, and defense. With a global footprint spanning 35 countries, TMYTEK serves academic institutions, cutting-edge technology enterprises, international telecom operators, and service providers.

Modular Design Inspired by LEGO

TMYTEK takes inspiration from LEGO to develop modular mmWave antenna designs, offering highly flexible and customizable solutions to meet diverse industry needs. Chairman Su-Wei Chang emphasized that this approach not only significantly enhances development efficiency but also boosts product competitiveness in the market. Additionally, the company operates under a fabless model, focusing on R&D and application deployment. By leveraging Taiwan's robust industrial supply chain, TMYTEK fosters win-win partnerships while remaining agile in responding to market demands.

Sustained Revenue Growth

Over the past years, TMYTEK's innovative testing equipment has addressed the high development costs associated with mmWave technology, contributing to consistent revenue growth. These products also enable the company to expand into new verification platforms, providing stable profitability while gathering insights into the latest technological advancements. This strategy highlights TMYTEK's market leadership in the global mmWave space.

In 2023 and 2024, TMYTEK achieved annual revenues of US$3.2 million and US$4.5 million, respectively, with testing equipment being the primary revenue driver. By 2024, phased array antenna modules accounted for 10% of revenue, and their contribution is expected to grow as design services and NRE revenues expand. Looking ahead to 2025, mmWave solutions for mobile communications, satellite systems, automotive applications, and defense projects are projected to drive steady revenue growth.

Innovations for Emerging Applications

Beyond communications, TMYTEK is advancing mmWave technology in emerging scenarios. In the automotive sector, the company's 60 GHz mmWave radar sensors have achieved breakthroughs in child presence detection (CPD) and object detection both inside and outside vehicles. Collaborations with Tier 1 suppliers are opening doors to the automotive market, with door obstacle detection radars set to begin production in 2025 and mass production targeted for 2026.

In defense, TMYTEK's active electronically scanned array (AESA) radar systems are designed for diverse applications, including drones, unmanned vessels, and naval ships, demonstrating the company's ability to meet global market demands with versatile product designs.

Global Reach with TMYTEK Brand

TMYTEK's proprietary brand is distributed through a global network of over 40 partners, reaching markets in Asia, Europe, North America, and Oceania. This success underscores the brand's international competitiveness. According to Ericsson's Mobile Trend Report, global fixed wireless access (FWA) connections are expected to grow from 130 million in 2023 to 330 million in 2029, with 85% of these being 5G FWA applications. The rapid growth in mmWave demand presents TMYTEK with a strong foundation for continued momentum.

Founder & Preside, Su-Wei Chang stated that TMYTEK will remain focused on diversifying mmWave technology applications, including mobile communications, satellite communications, automotive, and defense. In addition, the company is exploring future high-frequency applications and aims to expand into new scenarios, driving global technological progress through innovative solutions and delivering transformative value to the market.

About TMYTEK

TMY Technology, Inc. (TMYTEK) is a global leader in mmWave innovation, offering advanced solutions for research, education, and industry applications. Specializing in phased array antenna modules and pioneering mmWave research tools, TMYTEK serves key markets such as 5G/B5G, satellite communication, automotive, and defense. By driving breakthroughs in wireless communication and enabling next-generation technologies, TMYTEK empowers its partners to address complex challenges and seize new opportunities. With a commitment to high-quality manufacturing and customer-centric solutions, TMYTEK is shaping the future of connectivity and advancing global competitiveness. Find out more at tmytek.com.

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SOURCE TMY Technology Inc.