ON Semi sensor sales jumped up by 42% in 2022

From Counterpoint Research: https://www.counterpointresearch.com/sensing-power-solutions-drive-onsemis-record-revenue-in-2022/

Sensing, Power Solutions Drive onsemi’s Record Revenue in 2022

2022 highlights

• Delivered a record revenue of $8.3 billion at 24% YoY growth, primarily driven by strength in automotive and industrial businesses.
• Reduction in price-to-value discrepancies, exiting volatile and competitive businesses and pivoting portfolio to high-margin products helped onsemi deliver strong earnings.
• Revenue from auto and industrial end-markets increased 38% YoY to $ 4 billion and accounted for 68% of total revenues.
• Intelligent Sensing Group revenue increased 42% YoY to $1.28 billion driven by the transition to higher-resolution sensors at elevated ASPs.
• Non-GAAP gross margin was at 49.2%, an increase of 880 basis points YoY. The expansion was driven by manufacturing efficiencies, favorable mix and pricing, and reallocation of capacity to strategic and high-margin products.
• Revenue from silicon carbide (SiC) shipments in 2022 was more than $200 million.
• Revenue committed from SiC solutions through LTSAs increased to $4.5 billion.
• Total LTSAs across the entire portfolio were at $16.6 billion exiting 2022.
• Revenue from new product sales increased by 34% YoY.
• Design wins increased 38% YoY.