Declared Dividend • 22h
Dividend reduced to NT$0.80 Dividend of NT$0.80 is 38% lower than last year. Ex-date: 24th July 2026 Payment date: 27th August 2026 Dividend yield will be 1.5%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by earnings (70% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 7.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to NT$44.15, the stock trades at a trailing P/E ratio of 38.9x. Average trailing P/E is 22x in the Tech industry in Taiwan. Total returns to shareholders of 104% over the past three years. Reported Earnings • May 12
First quarter 2026 earnings released: EPS: NT$0.33 (vs NT$0.32 in 1Q 2025) First quarter 2026 results: EPS: NT$0.33 (up from NT$0.32 in 1Q 2025). Revenue: NT$370.1m (up 35% from 1Q 2025). Net income: NT$90.3m (up 3.0% from 1Q 2025). Profit margin: 24% (down from 32% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 14% per year. Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$36.95, the stock trades at a trailing P/E ratio of 32.8x. Average trailing P/E is 22x in the Tech industry in Taiwan. Total returns to shareholders of 72% over the past three years. Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to NT$39.50, the stock trades at a trailing P/E ratio of 35.1x. Average trailing P/E is 24x in the Tech industry in Taiwan. Total returns to shareholders of 101% over the past three years. Reported Earnings • Mar 13
Full year 2025 earnings released: EPS: NT$1.13 (vs NT$2.22 in FY 2024) Full year 2025 results: EPS: NT$1.13 (down from NT$2.22 in FY 2024). Revenue: NT$1.18b (down 11% from FY 2024). Net income: NT$307.9m (down 49% from FY 2024). Profit margin: 26% (down from 46% in FY 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 15% per year. Announcement • Mar 11
Infortrend Technology, Inc., Annual General Meeting, Jun 12, 2026 Infortrend Technology, Inc., Annual General Meeting, Jun 12, 2026. Location: 3 floor no,631, chung cheng rd., jhonghe district, new taipei city Taiwan Announcement • Feb 24
Infortrend Hybrid Flash Storage Powers AI and HPC with Speed and Scale at Lower Cost Infortrend Technology, Inc. announced that its EonStor GS 5024U hybrid flash storage accelerates critical workloads and provides multi-PB capacity while saving costs, addressing the growing demands of AI training, high-performance computing (HPC), and intelligent surveillance. As data volumes continue to grow, enterprises in AI, HPC research, and surveillance analytics face a dilemma: These applications demand both high-speed access and massive capacity; however, scaling all-flash storage to a multi-petabyte level is costly, especially considering that peak performance is required only for a subset of data, while HDD-only systems cannot deliver the performance required for active workloads. Infortrend bridges this gap with the EonStor GS 50 24U hybrid flash storage solution, featuring unmatched performance for active datasets and massive capacity for cold data at significantly lower cost. The EonStor GS family's highest-performance unified storage system, EonStor GS 5023U, delivers up to 125 GB/s throughput and 2.4 million IOPS for performance-demanding workloads. It supports both all-flash and hybrid configurations. In a hybrid configuration, GS 5024U can scale up to 20 PB, providing a flexible platform for both hot and cold datasets. This hybrid setup and support for economical QLC SSDs help to lower the costs by over 50% compared to all-flash deployments. These capabilities ensure that GS 5024U can efficiently meet the demands of large-scale, performance-critical data environments. Active datasets, such as AI training data, HPC computation inputs, or high-resolution surveillance streams, are stored on the NVMe SSD tier to ensure high-speed access and maintain compute or analytic efficiency. Less frequently accessed data and processed results can be automatically tiered to HDDs, reducing all-flash storage costs while maintaining accessibility for large-scale datasets. Announcement • Jan 13
Infortrend Technology, Inc. Launches Edge AI Server, Bringing Ai to the Edge Without Complex Setup Infortrend Technology, Inc. announced the launch of the KS 3000U edge AI server. The platform enables mid-sized organizations and distributed sites to deploy AI inference at the edge with high availability and simplified setup. While AI workloads move closer to where data is generated, organizations that continue to rely on cloud services face challenges, including latency, high operational costs, and data privacy. According to IDC, by 2030, 50% of enterprise AI inference workloads will be processed locally at the edge. For companies with limited on-site IT resources, this shift highlights the need for reliable, easy-to-deploy on-site edge AI infrastructure. KS 3000U is designed to address the challenges as a turnkey edge AI inference platform, featuring: Simplified Setup and High Availability: KS 3000U combines compute, storage, OS, and application managementGUI into a single system, allowing enterprises to deploy containerized AI applications directly. With setup completed in under 30 minutes and a two-node cluster for automatic failover, KS 3000U is well-suited for sites without dedicated IT teams. Real-Time Inference: KS 3000U is powered by AMD EPYC 8004 Series processors and supports up to two GPUs, including NVIDIA RTX PRO 6000 Blackwell Max-Q Workstation Edition, and low-latency NVMe SSDs. This enables on-site data processing for real-time response, keeps sensitive data local, and reduces cloud bandwidth costs. Designed for Non- Traditional Server Environments: With a 2U, 50 cm short-depth chassis, KS 3000U is offered in two models--the KSa 3004U for edge racks and the low-noise KSa 3004UE for people-occupied environments. These features make KS 3000U ideal for real-time video analytics at the edge across multiple industries: In retail, it enables video analytics for customer flow, inventory tracking, and theft prevention. In manufacturing, it supports automated optical inspection (AOI) and predictive maintenance. In healthcare, it enables AI-assisted diagnostics and remote patient monitoring while keeping sensitive data locally. Announcement • Jan 06
Infortrend Technology, Inc. Unveils Its Most Advanced U.2 NVMe SSD Storage Solution Designed to Propel the AI Era Infortrend Technology, Inc. announced the launch of EonStor GS 5024U, its highest-performing storage system to date. It delivers exceptional performance, reliability, and scalability, effectively meeting the growing demands of AI workloads--from model training and inference to real-time analytics. EonStor GS 50 24U, the new flagship of EonStor GS unified storage family, is powered by Intel Xeon 6 processor and delivers 125GB/s throughput, which is 2.5x higher than the previous highest-performing model, and 2.4 million IOPS. Enhanced with PCIe 5.0 SSDs support, the system is engineered for next-level speed and responsiveness. To address the increasing demand for ultra-fast data transfers, the solution integrates 200GbE and NVMe-oF high-speed networking technologies. It also features GPUDirect Storage technology, helping maximize GPU utilization. With support for parallel file systems such as Lustre, GS 5024U can easily deliver hundreds of gigabytes of throughput, which makes it an ideal fit for AI workloads. Complementing its performance, GS 5024U also delivers enterprise-grade reliability and scalability to handle modern applications with ease. Dual redundant controllers ensure uninterrupted operations during intensive AI and HPC workloads. To meet the immense storage demands of these workloads, GS 5024U offers up to 1.4PB of capacity and supports scaling up to 5.6PB via NVMe SSD or to 20PB via HDD expansions. The solution also offers automated storage tiering, keeping active files and AI models on the high-performance GS 5024U, while seamlessly migrating completed projects to cost-efficient U.2 QLC SSD or HDD tiers. Announcement • Dec 03
Infortrend Technology, Inc. High-Density 90-Bay Storage Helps Tackle Data Growth and Rack Constraints in Diverse Enterprise Deployments Infortrend Technology, Inc. announced the growing adoption of its EonStor GS 4U 90-bay unified storage across diverse real-world deployments. Infortrend high-density storage, once primarily favored for niche, high-performance workloads like HPC, has proven highly effective in a wider range of enterprise environments where data demands continue to grow. EonStor GS 90-bay solution delivers up to 45 GB/s throughput and 2PB raw capacity in a 4U footprint. Featuring dual-redundant controllers, GS ensures continuous operation and data protection. It supports file, block, and object storage, offering the flexibility to adapt to diverse application requirements. EonStor GS90-bay solution has proven its capabilities in real-world deployments requiring fast, reliable, large-scale data access: HPC: A GPU lab uses three appliances with Lustre for GPU-driven simulations, maximizing GPU utilization and ensuring stable HPC job performance. File Sharing: A government organization adopts it to deliver high throughput for simultaneous file access and Veeam backup. The same solution enables police investigators to instantly open case files, images, and videos, while the clinic's specialists use it to quickly retrieve patient imaging and lab data. Video Streaming: A media platform uses the solution with an expansion enclosure to power smooth video streaming and fast video uploads. Backup: A research institute relies on the solution for large-scale CT scan backups and research archives, seamlessly integrating with existing backup systems and cloud platforms such as Amazon S3. Reported Earnings • Nov 08
Third quarter 2025 earnings released: EPS: NT$0.74 (vs NT$0.68 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.74 (up from NT$0.68 in 3Q 2024). Revenue: NT$290.1m (down 3.7% from 3Q 2024). Net income: NT$203.1m (up 9.6% from 3Q 2024). Profit margin: 70% (up from 62% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$25.70, the stock trades at a trailing P/E ratio of 28.5x. Average trailing P/E is 22x in the Tech industry in Taiwan. Total returns to shareholders of 72% over the past three years. Reported Earnings • Aug 13
Second quarter 2025 earnings released: NT$0.62 loss per share (vs NT$0.57 profit in 2Q 2024) Second quarter 2025 results: NT$0.62 loss per share (down from NT$0.57 profit in 2Q 2024). Revenue: NT$269.0m (down 16% from 2Q 2024). Net loss: NT$168.8m (down 209% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 19
Upcoming dividend of NT$1.30 per share Eligible shareholders must have bought the stock before 25 July 2025. Payment date: 27 August 2025. Payout ratio is a comfortable 62% but the company is paying out more than the cash it is generating. Trailing yield: 5.6%. Within top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (3.7%). Declared Dividend • Jul 05
Dividend increased to NT$1.30 Dividend of NT$1.30 is 86% higher than last year. Ex-date: 25th July 2025 Payment date: 27th August 2025 Dividend yield will be 5.9%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by earnings (62% earnings payout ratio) but not covered by cash flows (195% cash payout ratio). The dividend has increased by an average of 24% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 52% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jun 24
Infortrend Technology, Inc. Boosts Storage Efficiency for Large Files with Upgraded Auto-Tiering on EonStor GS Unified Storage Infortrend Technology, Inc. announced an enhancement to its EonStor GS unified storage with the release of a faster and smarter auto-tiering feature, optimizing storage efficiency for large workloads. EonStor GS is a unified storage solution purpose-built for modern enterprises. It is ideal for file sharing, media and entertainment (M&E), healthcare, and manufacturing, where the rapid growth of high-resolution videos, images, and large files demands a careful balancing of capacity, performance, and cost. With HDDs far more affordable than SSDs--about one-fifth the cost--many organizations adopt hybrid storage with the auto-tiering feature. Auto-tiering automatically places frequently accessed files on SSDs and less-used data on HDDs. The latest upgrade offers 30% faster hot data migration and intelligent scheduling, moving data during user-defined off-hours to reduce storage I/O impact. The upgraded auto-tiering accelerates applications while simplifying data management for enterprises with growing data volumes. Benchmark results confirm that it delivers a significant performance boost over a single HDD-tier setup: In enterprise file sharing, active project files demonstrate 350% faster read performance. In M&E, rendering performance increases by up to 600%. In healthcare, diagnostic images are retrieved up to 400% faster during active use. In manufacturing, inspection videos and images are quickly accessed and analyzed during the quality control phase. EonStor GS 3000U/3000UT/4000U/5000U U.2 NVMe SSD and GS 3000 G3/4000 G3/5000 SAS HDD models. Tested on EonStor GS 3040 G3: 28 HDDs + 12 SSDs (auto-tiering) vs. 40 HDDs. Announcement • May 27
Infortrend Debuts Infortrend Enterprise Cloud Designed to Accelerate AI Transformation Infortrend®? Technology, Inc. announced the launch of the innovative Infortrend Enterprise Cloud (IEC), an all-in-one private cloud that empowers enterprises to accelerate AI initiatives across various applications and industries. IEC integrates computing, storage, and Kubernetes application management, providing a single platform for running cloud-native applications via containers and traditional enterprise applications via virtual machines. IEC supports cluster computing and scalability, ensuring seamless node expansion, uninterrupted service continuity, and increased performance as workloads grow. Powered by high-performance dual Intel Xeon Scalable or AMD EPYC 9004 CPUs, Nvidia GPUs, and U.2 NVMe SSDs, IEC provides an ideal solution for a wide range of AI applications, including resource-intensive generative AI workloads. While deploying AI-related applications using traditional servers is complex and time-consuming, IEC enables platform setup in under 30 minutes. Users can quickly launch applications using the built-in Application Market and seamlessly migrate existing enterprise applications. To accelerate multiple AI applications, IEC maximizes computing efficiency through automated resource balancing and GPU optimization, including GPU sharing, passthrough, and clustering with support for up to 80 GPUs across 20 nodes. Comprehensive data protection tools ensure continuous operations and safeguard against data loss. For growing data, IEC offers capacity expansion through external Infortrend storage solutions. IEC offers three compute node models with flexible GPU and U.2 NV Me SSD configurations to meet specific requirements. With these features, IEC empowers enterprises to drive faster, simpler AI transformation. Reported Earnings • May 10
First quarter 2025 earnings released: EPS: NT$0.32 (vs NT$0.45 in 1Q 2024) First quarter 2025 results: EPS: NT$0.32 (down from NT$0.45 in 1Q 2024). Revenue: NT$274.0m (down 22% from 1Q 2024). Net income: NT$87.7m (down 29% from 1Q 2024). Profit margin: 32% (down from 35% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. New Risk • May 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 8.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (173% cash payout ratio). Share price has been volatile over the past 3 months (8.7% average weekly change). Large one-off items impacting financial results. Announcement • May 01
Infortrend Technology, Inc. to Report Q1, 2025 Results on May 08, 2025 Infortrend Technology, Inc. announced that they will report Q1, 2025 results on May 08, 2025 Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$26.50, the stock trades at a trailing P/E ratio of 12x. Average trailing P/E is 18x in the Tech industry in Taiwan. Total returns to shareholders of 88% over the past three years. Announcement • Apr 09
Infortrend Technology, Inc. Introduces Innovative Parallel File Storage EonStor GSx to Accelerate HPC and AI Workloads Infortrend® Technology, Inc. announced the launch of the EonStor GSx parallel file storage family. Designed to provide high-performance parallel file access and exceptional scalability, EonStor GSx is ideal for demanding AI and HPC applications where rapid access to data is crucial. EonStorGSx is a high-performance storage solution facilitating parallel file access in IT environments that require processing sheer volumes of data. A single GSx appliance delivers up to 43GB/s, while a cluster of 10 GSx units achieves nearly 10 times that performance, effectively eliminating the bottlenecks encountered with a single storage appliance. In a conventional parallel file system architecture, which usually includes dedicated metadata servers and multiple I/O nodes, rack space demand in the data center can be substantial. EonStor GSx provides a solution that eliminates the need for this additional hardware, effectively addressing space limitations for enterprises. To address the evolving demands for higher throughput, GSx offers a simple expansion process by adding GSx appliances to linearly increase performance. For compatibility with major OS platforms, GSx supports Linux and Windows client agents, providing parallel access for client hosts and eliminating the need for additional parallel file system software. GSx offers U.2 NVMe all-flash models for high-performance needs and SAS HDD models for large storage capacity. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$22.40, the stock trades at a trailing P/E ratio of 10.1x. Average trailing P/E is 18x in the Tech industry in Taiwan. Total returns to shareholders of 56% over the past three years. New Risk • Mar 18
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 81% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (173% cash payout ratio). Large one-off items impacting financial results. Reported Earnings • Mar 13
Full year 2024 earnings released: EPS: NT$2.22 (vs NT$0.88 in FY 2023) Full year 2024 results: EPS: NT$2.22 (up from NT$0.88 in FY 2023). Revenue: NT$1.32b (down 5.1% from FY 2023). Net income: NT$606.1m (up 151% from FY 2023). Profit margin: 46% (up from 17% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Announcement • Mar 11
Infortrend Technology, Inc. Introduces High-Performance U.2 NVMe All-Flash Expansion for AI, Video Editing, and Backup Applications Infortrend® Technology, Inc. announced the launch of its first all-flash expansion enclosure, or JBOF ("Just a Bunch of Flash") - the JB 4000U model. This new product provides an excellent storage expansion option for applications such as AI, Media & Entertainment (M&E), and Backup, where fast data access and large capacity are crucial. Designed as a scalability solution for EonStor GS U.2 NVMe unified storage systems, the JB 4000U all-flash expansion enclosure features a 2U form factor, supporting up to 24 U.2 NVMe SSDs in a single appliance. In a dual-controller configuration, it delivers an impressive throughput of up to 24 GB/s, approximately 50% higher than that of the Infortrend's highest-performance SAS SSD expansion enclosure. JBOF offers superior performance at a lower cost compared to expansion enclosures supporting SAS SSDs, as U.2 NV Me SSDs are generally more affordable. Users can expand storage capacity with the JB 4000U, offering up to 1.47 PB in a single unit. Adding up to three JBOFs can further increase the capacity to 4.4PB. For demanding applications like AI and M&E, up to 50 GB/s throughput and PB-level SSD capacity can be achieved with the flagship EonStor GS 5024UE U.2 NVMe SSD storage and JB 4000U. For fast backup and restore, a cost-effective solution can be created using EonStor GS 3024UT and JB 4000U with 61.44TB QLC U.2 NVMe SSDs. Announcement • Mar 07
Infortrend Technology, Inc., Annual General Meeting, Jun 13, 2025 Infortrend Technology, Inc., Annual General Meeting, Jun 13, 2025. Location: 3 floor no,631, chung cheng rd., jhonghe district, new taipei city Taiwan Announcement • Feb 27
Infortrend Technology, Inc. to Report Fiscal Year 2024 Results on Mar 06, 2025 Infortrend Technology, Inc. announced that they will report fiscal year 2024 results on Mar 06, 2025 Announcement • Jan 14
Infortrend Technology, Inc. Unveils New High-Density Storage Solution with over 100% Performance Boost for Hpc and Media & Entertainment Infortrend® Technology, Inc. introduced the latest additions to its high-density 4U 90-bay HDD solutions: unified storage EonStor GS 5090 and expansion enclosure JB 4090. The large capacity and high throughput performance of the solutions make them ideal for applications like High-Performance Computing and Media & Entertainment. EonStor GS 5090 is a high-availability unified storage solution with a dual redundant controller design, ensuring uninterrupted operation. With its new hardware powered by the Intel® Xeon® Scalable Processor, the GS 5090 delivers ultra-high performance, achieving 45 GB/s read and 20 GB/s write—around three times the performance of the previous top-performing model. The GS 5090 introduces ultra-fast 200GbE connectivity, setting a new benchmark for data transfer speed while simplifying management to meet the demands of today's high-performance enterprise workloads. It also supports SAS 24G expansion, doubling throughput compared to SAS 12G. Additionally, the GS 5090 features four dedicated U.2 NVMe SSD slots for cache, providing fast data access while fully leveraging the ample capacity of its 90-bay storage. Furthermore, the GS 5090 offers seamless scalability through expansion with the new JB 4090 JBOD. Featuring SAS 24G expansion ports, the JB 4090 delivers double the bandwidth of its 90-bay JBOD predecessor with SAS 12G, effectively eliminating bottlenecks between the storage system and the JBOD. With this enhanced throughput capability, the JB 4090 can efficiently handle large volumes of data. Announcement • Dec 10
Infortrend's U.2 NVMe Hybrid Flash Unified Storage Powers Advanced AI Model Training Infortrend®? Technology, Inc. announced that its powerful U.2 NVMe hybrid flash storage solution, EonStor GS 5000U, is significantly accelerating AI training workloads, enabling rapid data processing and the development of advanced AI models. The solution now supports 200GbE connectivity, delivering high bandwidth and efficiency, even as workloads grow. The rapid advancements in AI are dramatically reshaping industries. Research institutes worldwide are harnessing its power to drive innovation and solve complex challenges, investing in IT infrastructures able to handle AI-driven workloads. To optimize data processing during model training, especially given the intensive random read-and-write patterns typical for these workloads, they need high-speed storage solutions capable of handling large datasets while supporting the efficient operation of compute resources like GPUs. For example, one use case needed storage with 140GB/s read throughput, seamless integration with the Lustre file system, and 4PB of capacity to manage massive datasets, enhancing scalability and research efficiency. EonStor GS 5000 U.2 NVMe SSD unified storage solution, is specially designed to meet the rigorous demands of AI model training. A single appliance achieves up to 50GB/s throughput, with 1.3 million IOPS and low 0.3 ms latency. Fully compatible with the Lustre file system., this solution integrates seamlessly into high-performance environments, with three GS 5000U appliances and three JB 3090 4U 90-bay HDD storage expansion enclosures delivering up to 140GB/s throughput and over 4PB of cold data storage capacity. New Risk • Nov 29
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 66% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.1% average weekly change). Minor Risks Dividend is not well covered by cash flows (98% cash payout ratio). Large one-off items impacting financial results. Reported Earnings • Nov 10
Third quarter 2024 earnings released: EPS: NT$0.68 (vs NT$0.55 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.68 (up from NT$0.55 in 3Q 2023). Revenue: NT$301.1m (down 19% from 3Q 2023). Net income: NT$185.2m (up 23% from 3Q 2023). Profit margin: 62% (up from 41% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Oct 24
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 30% to NT$39.05. The fair value is estimated to be NT$32.26, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.8% over the last 3 years. Earnings per share has grown by 45%. Valuation Update With 7 Day Price Move • Oct 22
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$35.35, the stock trades at a trailing P/E ratio of 22.4x. Average trailing P/E is 22x in the Tech industry in Taiwan. Total returns to shareholders of 162% over the past three years. New Risk • Aug 15
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 32% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.6% average weekly change). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Announcement • Aug 14
Infortrend Technology, Inc. Announces Its EonStor GS U.2 NVMe hybrid flash Enterprise Unified Storage Empowers AI kiosks At Airports Infortrend Technology, Inc. announced that its EonStor GS U.2 NVMe hybrid flash enterprise unified storage empowers AI kiosks at airports, significantly reducing processing times for check-in, border control, and boarding to ultimately provide passengers with smoother and faster journeys. Large international airports often face staffing shortages, hindering their ability to effectively manage high passenger volumes. To streamline passenger services, airports increasingly implement kiosks equipped with cameras and AI algorithms to verify travelers' identities. This allows passengers to move through the airport more quickly using advanced biometric identification methods, such as facial recognition, instead of manual passport checks, reducing waiting times and crowding at checkpoints. Biometric verification, being more tamper-resistant, also enhances airport security. To enable quick and accurate identity verification, high-performance and reliable storage solutions are crucial for these advanced systems. For example, EonStor GS 3000U U.2 NVMe storage can successfully power hundreds of AI self-service kiosks in an international airport serving tens of millions of passengers annually. Loaded with U.2 NVMe SSDs, it can achieve over 800K IOPS and low latency, providing quick access to data for real-time applications like self-check-ins and biometric checks. With dual redundant controllers, the solution ensures high availability, maintaining continuous services for the airport's round-the-clock operations. The GS 3000U storage also supports the kiosks by hosting pre-trained AI models, which are regularly updated to the kiosks to enable personalized content delivery and user behavior data analysis, optimizing airport services. Reported Earnings • Aug 11
Second quarter 2024 earnings released: EPS: NT$0.57 (vs NT$0.069 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.57 (up from NT$0.069 in 2Q 2023). Revenue: NT$321.3m (up 6.6% from 2Q 2023). Net income: NT$155.1m (up NT$136.3m from 2Q 2023). Profit margin: 48% (up from 6.3% in 2Q 2023). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. New Risk • Aug 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.9% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.9% average weekly change). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Announcement • Aug 01
Infortrend Technology, Inc. to Report Q2, 2024 Results on Aug 08, 2024 Infortrend Technology, Inc. announced that they will report Q2, 2024 results on Aug 08, 2024 Board Change • Aug 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 6 highly experienced directors. Independent Director Kuang-Wei Sun was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Upcoming Dividend • Jul 20
Upcoming dividend of NT$0.70 per share Eligible shareholders must have bought the stock before 25 July 2024. Payment date: 27 August 2024. Payout ratio is on the higher end at 79%, however this is supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Taiwanese dividend payers (4.3%). Lower than average of industry peers (3.0%). Declared Dividend • Jul 06
Dividend increased to NT$0.70 Dividend of NT$0.70 is 17% higher than last year. Ex-date: 25th July 2024 Payment date: 27th August 2024 Dividend yield will be 1.8%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (79% earnings payout ratio) and cash flows (75% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 3.8% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to NT$35.80, the stock trades at a trailing P/E ratio of 33.2x. Average trailing P/E is 24x in the Tech industry in Taiwan. Total returns to shareholders of 103% over the past three years. New Risk • Jun 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.7% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • May 27
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$28.10, the stock trades at a trailing P/E ratio of 26.1x. Average trailing P/E is 24x in the Tech industry in Taiwan. Total returns to shareholders of 54% over the past three years. Announcement • May 02
Infortrend Technology, Inc. to Report Q1, 2024 Results on May 09, 2024 Infortrend Technology, Inc. announced that they will report Q1, 2024 results on May 09, 2024 Announcement • Apr 10
Infortrend Technology, Inc Unveils Top-Performing U.2 NVMe Hybrid Flash Storage Tailored for AI-Driven and HPC Applications Infortrend Technology, Inc. announced the release of the cutting-edge EonStor GS 5000U U.2 NVMe hybrid flash unified storage series, specially designed to accelerate the implementation of AI, machine learning (ML), and high-performance computing (HPC) applications. EonStor GS 5024UE, the first released model of the EonStor GS 5000U U.2 NVMe hybrid flash storage series, offers several significant improvements to deliver ultimate performance gains for AI and HPC applications. The newly added features include the 5th Gen Intel® Xeon® Processor, PCIe 5.0, and NVMe-oF, enabling GS 5024UE to double the throughput performance compared to the preceding top-performing model. Combined with 100GbE, GS 5024UE achieves an impressive 50GB/s throughput and 1.3M IOPS with a low latency of 0.3 milliseconds. All these advancements make GS 5024UE stand out as the perfect choice for contemporary AI and HPC applications requiring storage with exceptional performance and low latency for extensive dataset processing workloads featuring simultaneous random and sequential data access. EonStor GS 5024UE provides over 700TB of storage capacity in a compact 2U 24-bay design. The solution can keep pace with the growing data from completed projects with 20PB of hybrid storage achieved by connecting SAS HDD JBOD. With built-in intelligent algorithms, GS 5024UE extends SSD lifespan and safeguards against data loss by preventing failures of multiple SSDs. New Risk • Mar 15
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Mar 14
Full year 2023 earnings released: EPS: NT$0.88 (vs NT$0.78 in FY 2022) Full year 2023 results: EPS: NT$0.88 (up from NT$0.78 in FY 2022). Revenue: NT$1.39b (down 4.9% from FY 2022). Net income: NT$241.4m (up 13% from FY 2022). Profit margin: 17% (up from 15% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Announcement • Mar 09
Infortrend Technology, Inc. Announces Cash Dividend Infortrend Technology, Inc. Approved the 2023 earnings distribution proposal: shareholders are entitled to a cash dividend of NTD 0.7 per share. Announcement • Mar 08
Infortrend Technology, Inc., Annual General Meeting, Jun 14, 2024 Infortrend Technology, Inc., Annual General Meeting, Jun 14, 2024. Location: North West Room of RSL Hotel Taipei Zhonghe (3F, No. 631, Zhongzheng Road, Zhonghe District, New Taipei City) New Taipei City Taiwan Agenda: To re-elect the Board of Directors; to acknowledge ratification of the 2023 business report and financial statements; to acknowledge ratification of the Company's 2023 earnings distribution proposal; to approve the Company's 2023 business report; to approve the audit committee's 2023 review report; to approve the Report on the 2023 employee compensation and directors' remuneration distribution; to approve the Report on the promotion plan of sustainable development in 2024; and to consider other matters. Valuation Update With 7 Day Price Move • Feb 29
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$25.20, the stock trades at a trailing P/E ratio of 22.2x. Average trailing P/E is 23x in the Tech industry in Taiwan. Total returns to shareholders of 128% over the past three years. Announcement • Feb 06
Infortrend® Technology, Inc Enhances Availability of S3 Object Storage for MSP's Services and Historical Museum's Website Services Infortrend® Technology, Inc. enables services for the data center of the Managed Service Provider (MSP) and the website of the large historical museum with S3 object storage combined with the HA (high availability) service. With the S3 protocol and the HA service support, Infortrend's unified storage families —EonStor GS dual-redundant controller storage and EonStor GSe single-controller storage — can be configured as object storage featuring a higher level of availability achieved with two GS or GSe appliances. This solution safeguards against data loss and ensures uninterrupted data access even if one of the systems fails. Given that the S3 protocol has become the industry standard for object-based storage, the solution can be applied in a wide range of use cases and environments where object storage with high availability is required. The solution's use cases include enabling services for the MSP's data center and the historical museum's website. The MSP utilizes EonStor GSe appliances with HA service to enhance the availability of its services, eliminating the risk of downtime and data loss and ensuring a competitive edge for its customers. The renowned museum, welcoming millions of visitors annually, leverages the HA service and EonStor GS loaded with high-capacity drives to store massive amounts of the museum's website media files, specifically – digitized historical artifacts. This solution not only ensures protection for valuable data but also guarantees an uninterrupted browsing experience for the museum's website visitors. Announcement • Aug 09
Infortrend Technology, Inc.'s EonStor GS G3 Now Supports the New Veeam Data Platform for Immutable Backup to Mitigate Ransomware Attacks Infortrend Technology, Inc. announced that its EonStor GS G3 now supports the latest version of Veeam Backup and Replication (VBR) V12. This provides businesses with an increasingly popular immutable backup for protecting data and ensuring its fast recoverability in case of ransomware attacks. A Veeam survey of 4,200 enterprises showed that over 85% experienced ransomware attack in 2022, and 79% have a data protection gap. Such attacks can cause disruptions, resulting in data and financial losses. Recovering from a ransomware attack can be complex. However, with InfortrendEonStor GS G3 and VBR V12, businesses now have an immutable backup solution for faster and guaranteed data recovery compared to traditional tape backup. The solution delivers lower recovery point objectives (RPOs) and recovery time objectives (RTOs). In the event of ransomware attacks, destroyed data can be restored without the need for offline operations, allowing businesses to quickly resume operations. It protects data from ransomware across virtual, physical, NAS, and cloud-native environments. With the built-in U.2 NVMe SSD cache, GS G3 serves as the performance and capacity tiers in the Veeam scale-out backup repository architecture, allowing enterprises to deploy a single GS G3 storage instead of utilizing separate storage appliances for performance and capacity tiers. Furthermore, GS G3 supports S3-compatible object storage for an immutable Veeam backup repository, which prevents any unauthorized modifications and protects against malicious acts. Reported Earnings • Aug 08
Second quarter 2023 earnings released: EPS: NT$0.07 (vs NT$0.043 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.07 (up from NT$0.043 in 2Q 2022). Revenue: NT$301.4m (down 11% from 2Q 2022). Net income: NT$18.9m (up 61% from 2Q 2022). Profit margin: 6.3% (up from 3.5% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 24
Upcoming dividend of NT$0.60 per share at 2.3% yield Eligible shareholders must have bought the stock before 31 July 2023. Payment date: 25 August 2023. Payout ratio is a comfortable 70% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (3.1%). Announcement • Jul 14
Infortrend Technology, Inc. Declares Cash Dividend, Payable on August 25, 2023 Infortrend Technology, Inc. announced that cash dividend of TWD 164,130,923, TWD 0.6 per share will be distributed. Ex-rights (ex-dividend) record date: August 6, 2023. Payment date of cash dividend distribution: August 25, 2023. Announcement • Jul 06
Infortrend Expands NVMe All-Flash Storage Lineup with High-Capacity 4U48 Models, Reducing Management Complexity and Operation Costs Infortrend®? Technology, Inc. has announced their first 4U 48-bay models as an expansion to their EonStor GS U.2 NVMe all-flash storage systems. The new solutions offer greater storage capacity for businesses to consolidate their storage hardware infrastructure while reducing management complexity, and are ideal for data-intensive applications such as VMware and VDI. With most NVMe all- flash storage systems on the market available in the 2U form factor, Infortrend breaks through with 4U48 solutions that support PCIe Gen4 U.2 NVMe SSDs to offer up to 700TB of storage capacity in one appliance. The systems come in dual-controller configurations, and can be coupled with the 100GbE host interface to deliver up to 1.1M IOPS, 24GB/s read and 12GB/s write throughput performances. One benefit of the 4U48 solutions is minimizing hardware, where one 4U48 is the equivalent to two 2U systems. Deployment-wise, this means fewer cables, switches, peripherals, and less power consumption, which can dramatically reduce operation costs. Additionally, administrators can manage fewer storage systems with 4U48, which enhances storage maintenance efficiency. The new solutions, available in two models - GS 4048U and GS 3048UT, support 48 U.2 NVMe SSD's in one appliance and the 100GbE host interface, making them ideal for workloads that require high IOPS and low latency. Announcement • Jun 21
Infortrend Technology, Inc. Streamlines Data Backup with New Features and Enhances Backup Software Compatibility on EonStor GS Storage Solutions Infortrend Technology, Inc. announced enhancements to its EonStor GS unified storage, fulfilling a wide range of backup needs. In addition to its existing support for enterprise backup software, GS now provides backup capabilities for file servers, PCs, and cloud storage with its built-in backup service. Coming in redundant design, EonStor GS ensures minimal downtime and data loss, which safeguards critical information and ensures business continuity. This makes EonStor GS a reliable storage solution that is ideal for backup purposes. With the newly introduced built-in backup service, GS now allows direct backup from file servers, PCs, and Cloud platforms. This empowers organizations to easily back up data from these sources without additional backup software. This not only saves time and effort but also reduces costs associated with acquiring additional backup solutions. In addition to the built-in backup service, EonStor GS also supports leading enterprise backup software, including Veeam, Veritas, and Commvault. This compatibility enables organizations to leverage their preferred backup solutions for efficient data protection. Notably, GS is Veeam ready, offering an additional layer of protection against ransomware attacks through data immutability. EonStor GS caters to diverse backup requirements with its versatile product lineup. The GS U.2 NVMe all-flash series delivers high-performance for efficient online backups, while the GS SAS HDD series, available in form factors from 12-bay to 90-bay, offers cost-effective nearline backup options to organizations with extensive data storage needs. New Risk • Jun 13
New major risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 7.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.7% average weekly change). Reported Earnings • Mar 19
Full year 2022 earnings released: EPS: NT$0.78 (vs NT$0.53 in FY 2021) Full year 2022 results: EPS: NT$0.78 (up from NT$0.53 in FY 2021). Revenue: NT$1.46b (up 23% from FY 2021). Net income: NT$214.0m (up 47% from FY 2021). Profit margin: 15% (up from 12% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Announcement • Jan 11
Infortrend Eonstor Gs Storage Solution Powers New Level of Non-Disruptive Service for Medical Radiology Information System Infortrend Technology, Inc. introduced its storage solution's HA (high availability) service to reinforce the hospital radiology information system (RIS) for non-disruptive operations. The HA service features active-active architecture to ensure failover redundancy, making it perfect for mission-critical data storage such as patient data, radiology imaging, billing information. The RIS is a software system for storing and managing medical imaging data. It complements hospital information systems (HIS) and picture archiving and communication system (PACS) to expedite radiology workflow. As a part of the storage solution, the HA service is critical in providing a stable and continuous workflow to guarantee complete RIS imaging processing without data storage interruption. The key reason is it ensures doctors can access patient data anytime to make an accurate real-time diagnosis during consultations or surgery. To establish an HA service, the hospital RIS utilized two EonStor GS unified storage solutions in separate server rooms. With the dual active-active configuration, should the primary active system fail due to power interruption or other incidents, it will auto failover/failback for the second active system to take over, with near-zero recovery time objective (RTO). The HA service provides zero recovery point objective (RPO) with the data mirrored onto both storage systems. By introducing HA service to RIS, it improves the service level agreement (SLA) quality by avoiding re-imaging which results in excess costs for hospitals and wasted time for patients. This means patients can leave the hospital with a satisfied experience, making them more likely to return for their next consultation. Valuation Update With 7 Day Price Move • Jan 03
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$18.95, the stock trades at a trailing P/E ratio of 22.8x. Average trailing P/E is 11x in the Tech industry in Taiwan. Total returns to shareholders of 54% over the past three years. Valuation Update With 7 Day Price Move • Dec 14
Investor sentiment improved over the past week After last week's 15% share price gain to NT$23.25, the stock trades at a trailing P/E ratio of 28x. Average trailing P/E is 12x in the Tech industry in Taiwan. Total returns to shareholders of 84% over the past three years. Announcement • Nov 16
Infortrend Technology, Inc. Releases New EonStor GS 3024UT and 4024U All-Flash Unified Storage Solutions Featuring 100GbE RDMA, and PCIe Gen4 Infortrend Technology Inc. has released their new EonStor GS 3024UT and 4024U all-flash unified storage solutions featuring 100GbE RDMA, and PCIe Gen4 that can maximize high-performance computing (HPC) efficiency while reducing total cost of ownership. With HPC making its way into small to medium enterprises, it has been generating complex data and placing higher demands for data storage solutions. With a common industry write speed of 7GB/s, some customers are now demanding 12GB/s. An HPC's mixture of random and sequential data I/O requires the storage solution to facilitate high IOPS and throughput to cope with its parallel file system workloads. In addition, the remote direct memory access (RDMA) technology has become a prerequisite for some of the HPC file systems (StorNext, GPFS, BeeGFS, Lustre, etc.), allowing for more free hardware resources. Design to meet the demand of HPC storage needs, Infortrend's EonStor GS U.2 all-flash models (GS 3024UT and GS 4024U) deliver up to 1.1M IOPS and support 100GbE with RDMA technology to offer up to 24GB/s read and 12GB/s write throughput. To coincide with modern server infrastructures on 100GbE protocol, GS U.2 100GbE all-flash series offers performances that can effectively minimize client/server I/O performance discrepancies in sophisticated HPC applications. The systems provide similar performance to four 32G Fibre channels with a single 100GbE. With the need to purchase less hardware and consume less power, it also reduces the cost of ownership. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 5 highly experienced directors. Independent Director Kuang-Wei Sun was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 06
Third quarter 2022 earnings released: EPS: NT$0.30 (vs NT$0.091 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.30 (up from NT$0.091 in 3Q 2021). Revenue: NT$400.5m (up 45% from 3Q 2021). Net income: NT$82.3m (up 229% from 3Q 2021). Profit margin: 21% (up from 9.0% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment improved over the past week After last week's 17% share price gain to NT$17.35, the stock trades at a trailing P/E ratio of 27.9x. Average trailing P/E is 12x in the Tech industry in Taiwan. Total returns to shareholders of 26% over the past three years. Announcement • Oct 12
Infortrend Technology Releases its Single Controller EonStor GSe U.2 Unified Storage Series Infortrend Technology Inc. has released its single controller EonStor GSe U.2 unified storage series featuring PCIe Gen4 U.2 NVMe SSD and 100GbE RDMA designed for small and medium-sized businesses. The systems offer a lower total cost of ownership without sacrificing performance. It is Infortrend's first time to introduce U.2 unified storage solutions with a single controller configuration. The high-end models support 100GbE RDMA, 24 U.2 NVMe SSDs with PCIe Gen4. Its performance can reach up to 600K IOPS, 12GB/s read and 9GB/s write, well suited for applications such as database, virtualization, media and entertainment, file sharing, backup, etc. For organizations looking for mass data archive or having nearline storage needs, the entry-level models are even more cost-effective with the support for high-capacity U.2 NVMe SSDs. Additionally, by connecting to HDD JBODs, enterprises can leverage auto-tiering to allocate hot and cold data into respective drives, maximizing the storage's performance and capacity. The new EonStor GSe U.2 series comes with complete enterprise-level functionalities such as smart SSD management by extending SSD lifespan, and preventing multiple simultaneous SSDs failures; data protection such as RAID, WORM, snapshot, remote replication, etc.; scale-out and scale-up expansion for installing more than 3,000 disk drives with over 50PB of storage capacity; and Infortrend's intuitive user interface offers centralized storage management to minimize maintenance and management costs. Announcement • Oct 06
Infortrend Releases EonStor GS G3 Storage Solutions with Performance Gains, Powering Up Business-Critical Applications Infortrend® Technology Inc. released its third generation EonStor GS unified storage solutions. The G3 solutions offer up to 50% performance improvement and with redundant design, making them perfect for business-critical applications such as database, virtualization, VDI, M&E, HPC, PACS, general enterprise IT and backup. The new EonStor GS G3 storage solutions feature the latest Intel Xeon D processors with PCIe Gen4 architecture and 25Gb Ethernet for high-throughput performance. Rated at 16GB/s read and 12GB/s write, the throughput performance increased 45% in read and 50% in write when compared to EonStor GS Gen2 solutions. Available in five form factors—from common 2U12 bay, 3U16 bay, 4U24 bay to high density 4U40 bay and 4U60 bay—across GS 4000 and GS 3000 series, they are geared towards various enterprise needs. Common form factor models are perfect for general workloads; high density models are for organizations with limited rack space; and high performance models are designed to handle the intense read/write of HPC and M&E applications while 4U 40/60 bay models support U.2 NVMe SSD cache to accelerate read/write performances. In addition to the performance enhancements, the G3 solutions have retained EonStor GS's advantages with scale-out and scale-up capability to support over 3000 disk drives with more than 50PB of storage capacity; data protection mechanisms such as snapshot, remote-replication, WORM, etc.; and an intuitive user interface with data centralization for administrators to better manage enterprise data. Announcement • Sep 28
Infortrend Technology, Inc. Releases New EonStor GS U.2 Infortrend Technology Inc. has released their new EonStor GS U.2 all-flash unified storage supporting 100GbE network protocols. The new storage solutions offer extremely high performance and aim to expedite 8K/4K video post-production processes. With 4K ultra-HD becoming the norm, the shift to 8K is just around the corner. Offering significantly increased image details that result in an exponential increase in file size, and depending on the codec format, a raw footage in 8K is approximately three times the file size of the same footage in 4K. The massive 8K files also present other challenges, especially the need for high throughput and low latency storage solutions during post production collaborative multi-user access. Designed for 4K/8K video post-production, the Infortrend EonStor GS 3024UT and 4024U features 100GbE interfaces with RDMA, high bandwidth PCIe Gen 4 slots and supports U.2 NVMe SSD, delivering up to 24GB/s read in block level and 18GB/s read in file level. With the performance boost, studios can leverage the new solutions to improve workflow efficiency in 4K/8K post-productions. For example, the single controller GS 4024U can support 48 layers of 4K video playback. Such is the case with a US video post-production company for streaming platforms. They designated 100GbE storage solutions for 4K multimedia post-production and assigned 1.6GB/s bandwidth to ten workstations. The aim is to create a 100GbE infrastructure that can merge with existing 100GbE servers seamlessly to offer high throughput, low latency, and neutralize client/server performance discrepancies. Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment improved over the past week After last week's 18% share price gain to NT$17.00, the stock trades at a trailing P/E ratio of 27.3x. Average trailing P/E is 13x in the Tech industry in Taiwan. Total returns to shareholders of 45% over the past three years. Announcement • Aug 10
Infortrend EonStor GS All Flash U.2 Storage with 100Gb Ethernet Connectivity Tackles Extreme Workloads Infortrend Technology Inc. released their EonStor GS all-flash unified storage systems. Featuring the latest Intel Xeon D CPU, PCIe Gen4, and 100GbE, the solutions are perfect for applications requiring low latency and high performance such as database, virtualization, HPC, multimedia and entertainment (M&E). EonStor GS series is designed for enterprises to flexibly deploy and utilize in a variety of applications. It has been chosen and deployed by several global enterprises and organizations. These organizations include world-renowned car-makers, Czechoslovakia's Municipal Library, Turkish media conglomerate Ciner Media Group, etc. Leveraging a series of technological advancements, the EonStor GS U.2 all-flash models (GS 3024UT and GS 4024U) deliver new high performance of the series—up to 1100K IOPS, 24GB/s read and 12GB/s write in end-to-end throughput. The write performance is particularly increased 40% in comparison with the previous U.2 all-flash models. Besides, using 100GbE network connection, compared to 25GbE or 40GbE, allows organizations to enjoy high performance while reduces deployment complexity and total power consumption. Furthermore, the 100GbE supports RDMA and provides up to 12GB/s throughput per port, making it today's top choice for large-file applications such as HPC and 8K post-production. In addition to these advancements, the flagship models have retained the series' favorable features such as scale-out and hybrid-storage capabilities. They also support auto-tiering, which allows the system to automatically prioritize hot data for prompt access, and cold data to be archived. Announcement • Jul 27
Infortrend Technology Adds Security Features on EonStor GS Unified Storage Solutions, Keeping Data Safe from Ransomware Threats Infortrend Technology, Inc. announced the introduction of immutable object storage or write-once-read-many and multi-factor authentication security features to their EonStor GS unified storage solutions, ensuring the safety of stored data, specifically against ransomware. Ransomware attacks are still rising, showing that the traditional ways to prevent these threats such as firewalls and antivirus are not full-proof methods. Therefore, enterprises have started utilizing immutable or WORM storage repositories to take advantage of its write-once-read-many characteristics to protect archived data. Infortrend's EonStor GS unified storage families now offer immutable object storage. Organizations can set the data as WORM to avoid being encrypted by ransomware and fulfill retention policies by designating a retention period to avoid accidental data erasure. In addition to the immutable object storage, the multi-factor authentication function is also implemented into the GS families. It requires an additional one-time password for account access, either from an APP or via email. The functionality is proven to be effective against unauthorized access, even if the password has been compromised. Upcoming Dividend • Jul 25
Upcoming dividend of NT$0.40 per share Eligible shareholders must have bought the stock before 01 August 2022. Payment date: 26 August 2022. Payout ratio is a comfortable 68% and the cash payout ratio is 89%. Trailing yield: 2.7%. Lower than top quartile of Taiwanese dividend payers (6.6%). Lower than average of industry peers (7.3%). Announcement • Jul 12
Infortrend Technology, Inc. Advances the Performance of Database and Virtualization with All-Flash U.2 NVMe SSD Storage Infortrend Technology, Inc. introduced U.2 NVMe SSD EonStor DS 4000U all-flash SAN storage solution to boost IOPS and reduce latency for increased I/O operation request responsiveness in performance-demanding SAN applications like database and virtualization. Oftentimes, database is a mission-critical component performing a function essential for business operations, thus, reliable high-performance storage is needed: It must be protected from potential failures and promptly serve many simultaneous random real-time transactions/inquiries from clients. As for organizations' virtualized environments, storage is required to quickly respond to I/O requests from multiple virtual machines. EonStor DS high availability SAN storage supports U.2 SSD to deliver 1000K IOPS and 11GB/s throughput (90% performance increase compared to the previous model). With high performance and significantly reduced latency, it is capable to quickly process multiple I/O requests of virtual machines and database data queries. Importantly, DS guarantees uninterrupted services with complete data protection design: multiple RAID levels prevent data loss due to drive damage, snapshots and remote replication fulfill local and remote data backup, while supercapacitor ensures that data is not lost if the system is powered off. For virtualized environments, EonStor DS was certified as VMware Ready to assist businesses in keeping up with the growing demand for IT resources. To help Infortrend's partners increase expertise and achieve profitability, Infortrend has updated its 2022 Reseller Partner Program, where partners receive exclusive advantages such as deal registration with price protection, access to demo machines, and much more. Announcement • Jun 22
Infortrend Technology, Inc. Announces Scale-Out NAS Helps Media and Entertainment Companies Stay Competitive with All-Around Data Protection Infortrend® Technology, Inc. optimized their EonStor CS scale-out NAS solution's all-around data protection including Erasure code to assist Media and Entertainment (M&E) creators in faster data recovery and on-time project completion to remain competitive in the industry. The EonStor CS is an extremely flexible NAS storage solution that offers scale-out to increase performance (up to 100GB/s), and scale-up to add storage capacity (up to 100PB). In addition, it can utilize U.2 NVMe SSDs to further boost performance by offering low latency data read/write. The M&E projects often have tight schedules, so performance, data reliability, and protection are vital factors in expediting completion. Without data protection, in a worst-case scenario where all data is lost, a few minutes of classic or award-winning scenes may require hours, if not days to compose. Therefore, most M&E studios require complete data protection which has less impact on storage performance and productivity. The EonStor CS has an all-around data protection design that meets M&E requirements. On a local drive level, it incorporates RAID for data redundancy protection that can rebuild a single disk drive within hours, which significantly reduces the time of data recovery, compared to a complete node rebuild. On a node protection level, Erasure Code can produce redundant data for all nodes and initiate auto-recovery of a faulty node. Other data protection methodologies include remote replication for folder level safety and it has achieved Veeam Ready Repository status for full backups/VM restore capabilities. Announcement • May 31
Infortrend Powers Up Scale-Out Unified Storage EonStor GS U.2 to Provide Higher Expandability and Faster Data I/O Solution Infortrend Technology, Inc. has optimized EonStor GS U.2 an enterprise scale-out unified storage solution featuring U.2 NVMe SSD. It supports both block and file-level scale-out expandability to increase capacity and performance as storage needs grow. EonStor GS (GS) unified SAN/NAS storage is designed for various enterprise applications, e.g., database, virtualization, media post-production, and file sharing. It offers optimal capacity and performance in several ways. Initial deployment can start with one GS and, when needed, users add new GS to form a cluster with up to 4 appliances via scale-out. To enhance data processing with high IOPS and low latency, GS supports the mainstream ultra-speed U.2 SSD and upgrades performance up to 1000K IOPS and 22GB/s per appliance. GS provides a single namespace for Windows, Linux, or macOS user access via CIFS and NFS protocols. IT management can be further simplified with auto-balancing, which helps ensure that data is stored evenly on each GS in a cluster. For better cost-effectiveness, IT staff can expand all-flash U.2 GS with HDD JBOD, and let the auto-tiering feature migrate 'hot' and 'cold' data between high-performance SSD and budget-friendly HDD. Reported Earnings • May 16
First quarter 2022 earnings released: EPS: NT$0.18 (vs NT$0.12 in 1Q 2021) First quarter 2022 results: EPS: NT$0.18 (up from NT$0.12 in 1Q 2021). Revenue: NT$253.0m (up 3.3% from 1Q 2021). Net income: NT$49.5m (up 46% from 1Q 2021). Profit margin: 20% (up from 14% in 1Q 2021). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 5 highly experienced directors. Independent Director Chin-He Chung was the last director to join the board, commencing their role in 2015. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 13
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$0.53 (up from NT$0.24 loss in FY 2020). Revenue: NT$1.19b (up 5.2% from FY 2020). Net income: NT$146.0m (up NT$211.4m from FY 2020). Profit margin: 12% (up from net loss in FY 2020). The move to profitability was primarily driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • Feb 24
Infortrend Introduces EonStor CS Auto-tiering to Optimize Storage Efficiency for Large-Scale HPC Infortrend® Technology, Inc. announces the auto-tiering function for their EonStor CS scale-out NAS. The feature optimizes read/write performances and utilizes storage capacity for mass data analytics such as in large-scale high-performance computing (HPC). HPC has been widely used for industry innovations and academic research such as finding the oil drilling locations, weather, and genetic analysis. It paves the way for scientists to analyze complex data in less time over traditional computing. One of the key requirements of HPC storage is extremely high throughput for random and sequential read/write speeds. This can dramatically speed up the analysis process and help organizations gain a competitive edge. The perfect solution to HPC storage is EonStor CS scale-out NAS. CS delivers up to 4.1GB/s throughput per node and the performance can be increased linearly by adding more nodes, and at the same time, the storage capacity also. In addition, it supports auto-tiering to utilize the high-performance of SSDs and the massive capacity of HDDs. The system will automatically allocate the processing "hot data" onto high-performance SSDs to meet the mass data read/write requirements of HPC analytics. Once the data have been finalized, they are identified as "cold data" and will be moved to HDDs for archiving purposes. Announcement • Feb 16
Infortrend EonStor GS Enterprise Unified Storage Empowers School Online Learning and Data Backup Infortrend® Technology, Inc. empowers school online learning and data backup with EonStor GS enterprise unified storage. The solution provides stable, uninterrupted services to multiple users within highly concurrent access time during online classes, as well as guarantees to meet the long-term storage needs for massive volumes of digital teaching materials. EonStor GS unified storage offers a comprehensive solution for school online learning application enabling educational institutions to deliver high quality educational services for online learners. The high sequential bandwidth of 11GB/s satisfies high concurrency data access requirement and guarantees that all the students can simultaneously get uninterrupted and quick access to all types of course content. A single GS supports up to 896 hard drives and provides more than 14PB capacity. As the quantity of course materials and online classes expand, GS can be horizontally scaled out up to 4 nodes, allowing linear expansion of performance and capacity. To fully protect e-learning materials, GS supports both local and remote data backup functions. Announcement • Jan 24
Infortrend Launches U.2 SSD Eonstor Ds to Boost Performance of San Applications Infortrend® Technology, Inc. has launched U.2 NVMe SSD EonStor DS 4000U all-flash SAN storage solution to boost IOPS and throughput in such applications as virtualization, database, video editing, and HPC. EonStor DS (DS) is a high availability storage specially designed for enterprises utilizing block-level storage services. Due to increasing market trend, DS now features support of the U.2 NVMe technology to provide better performance and cost-effectiveness. Each storage host can be installed with 24 U.2 SSDs through the high-speed and low-latency PCIe interface, providing 1000K IOPS and 11GB/s performance which allows DS to quickly fulfill multiple I/O requests of virtual machines, HPC servers, database data queries, etc. Moreover, users can scale up capacity to more than 7PB with up to 448 SSD+HDD drives. In hybrid configuration, the auto-tiering function automatically allocates data to tiers to provide better storage efficiency. With a built-in intelligent algorithm, DS effectively reduces the data written to SSD and extends their service life, which helps to avoid simultaneous failure of multiple SSD and enhance data protection. For minimizing IT management burden, it also predicts the remaining life (days) of the SSD based on the workload, and actively send out notifications to remind users when SSD replacement is needed. DS is equipped with a complete data protection mechanism: while multiple RAID levels prevent data loss due to hard disk damage, snapshots and remote replication functions realize local and remote data backup, and supercapacitor ensures that data is not lost when the system is powered off. Valuation Update With 7 Day Price Move • Dec 15
Investor sentiment improved over the past week After last week's 24% share price gain to NT$18.95, the stock trades at a trailing P/E ratio of 74.4x. Average trailing P/E is 15x in the Tech industry in Taiwan. Total returns to shareholders of 80% over the past three years. Announcement • Dec 01
Infortrend® Technology, Inc. Introduces U.2 NVMe SSD EonStor DS 4000U All-Flash San Storage Solution Infortrend® Technology, Inc. introduced U.2 NVMe SSD EonStor DS 4000U all-flash SAN storage solution to boost IOPS and reduce latency for increased I/O operation request responsiveness in performance-demanding SAN applications like database and virtualization. Oftentimes, database is a mission-critical component performing a function essential for business operations, thus, reliable high-performance storage is needed: It must be protected from potential failures and promptly serve many simultaneous random real-time transactions/inquiries from clients. As for organizations' virtualized environments, storage is required to quickly respond to I/O requests from multiple virtual machines. EonStor DS high availability SAN storage supports the market-trending cost-effective U.2 SSD to deliver 1000K IOPS and 11GB/s throughput (90% performance increase compared to the previous model). With high performance and significantly reduced latency, it is capable to quickly process multiple I/O requests of virtual machines and database data queries. In a hybrid configuration, the auto-tiering function automatically allocates data to high-performance or high-capacity tiers to provide better storage efficiency. Importantly, DS guarantees uninterrupted services with complete data protection design: multiple RAID levels prevent data loss due to drive damage, snapshots and remote replication fulfill local and remote data backup, while supercapacitor ensures that data is not lost if the system is powered off. For virtualized environments, EonStor DS was certified as VMware Ready to assist businesses in keeping up with the growing demand for IT resources. Also, DS features SSD optimization technology, allowing to extend SSD service life, improve data protection, and simplify SSD management. Reported Earnings • Nov 08
Third quarter 2021 earnings released: EPS NT$0.09 (vs NT$0.037 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: NT$277.2m (down 6.3% from 3Q 2020). Net income: NT$25.0m (up 149% from 3Q 2020). Profit margin: 9.0% (up from 3.4% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings.