Vedvati Shrotre: Yeah. Thanks for taking my question. The first one I had is, could you talk about the timelines you’re seeing for gate-all-around ramps? Have they shifted or come in, in the recent quarters?
Gaby Waisman: They have not shifted in a significant way. I think that our customers are definitely driving forward with the plans for gate-all-around. We expect the timeline to remain as anticipated previously throughout the coming two years.
Vedvati Shrotre: Got it. And then is your — like if I think about the penetration with your materials portfolio, right, the Veraflex, the Elipson and your positioning with gate-all-around, is — do you think there’s kind of more room for adoption that you’re still in that evaluation process? And how, like, do you gauge like what percentage adoption is there? And what would go in as you start ramping these technologies?
Gaby Waisman: So we, as I mentioned already, delivered the second Elipson tool to a leading IBM in the second quarter of the year, and we have delivered additional tools for evaluations. We definitely see the great potential that this tool have — that this tool has, sorry, for both strain, stress and crystallinity and not only in advanced nodes by the way, which is becoming very interesting. But definitely, the take-up rate is going to be determined after the evaluation or after some of those evaluations, considering the specific layers and applications that this tool is going to become a product tool of record for. And we definitely believe in the potential of this tool to cover a myriad of such layers and applications. We have started with a few, we see that growing, and I believe it will continue to grow as customers become more acquainted with the capabilities of this tool.
Vedvati Shrotre: Got it. And then, I guess, a last one. So have you characterized recently your contribution from the chemical metrology products? And you mentioned that, that’s driving — that’s benefiting from the growth in HBM. Can you give us a sense of what percentage of your revenue that lines up to?
Gaby Waisman: You mean the chemical — how much is the chemical metrology from our business?
Vedvati Shrotre: Yes.
Gaby Waisman: So when we acquired this new technology, we said that it’s more or less around 5%, and we hope to grow the annual contribution from this product line in the coming quarters to around 10%. So this product line is actually growing its portion of the revenues, and we want to reach around 10% in the coming quarters.
Vedvati Shrotre: And is that mostly HBM driven?
Gaby Waisman: It’s not only HBM driven, but HBM definitely propels the business, specifically in the second half of this year. And we see a lot of potential in the adoption of those tools in HBM, which is becoming a crucial component in driving some of the AI, new business that is coming.
Vedvati Shrotre: All right. That’s helpful. Thank you.
Operator: And this concludes our question-and-answer session. I would like to turn the conference back over to Gaby Waisman, Nova’s President and CEO, for some closing remarks.
Gaby Waisman: Well, thank you all for taking the time to join our call today. We look forward to meeting many of you in person in the upcoming investor conferences. Thank you very much.
Operator: And this concludes the conference. Thank you for attending today’s presentation. You may now disconnect.
