Today we issued a news release discussing our plan to restructure our organization. These types of decisions are always difficult and we don’t take them lightly. To our valued employees who were affected directly, we’d like to express our sincere gratitude for your service to the company – we truly appreciate your effort and dedication, and we wish you the very best in your future endeavors.
The restructuring decision came as a result of our year-end strategic planning process, during which we reviewed our product offerings and market position for the EOS S3 SoC and eFPGA technology products. We believe that we have a very strong position on both fronts, with a healthy and rapidly growing open-source based ecosystem, and so will be able to move forward with a leaner organization without sacrificing our growth objectives. Having a leaner organization will accelerate our path to profitability, a key milestone which we intend to achieve this year.
Even with the organizational changes we are making, we expect to grow our revenue in 2020 and come out of the year stronger both organizationally and financially. We’ll provide further details of the restructuring and changes to our operating model during our next quarterly earnings call on February 12th, 2020.