Competitive landscape, page-376

I think they are at least providing a more conservative estimate at this point given the activity by their potential competitors that have taken place. One thing I have noted is that it seems at least one of their closest competitors (I think GrAImatter in this case) seems to have a more targeted focus on video processing (although they do note sensor processing in their material). They may be looking to go directly into the autonomous vehicle niche.

It still does not look like the competition has fabricated silicon in their hands, so Brainchip seems to have a definite advantage there. Brainchip does need to worry about its competitors coming up with clever ways to implement their technology in a way that works around the patents, resulting in processors with similar costs, speed, and power consumption. For all I know, that gap could be closing and Brainchip certainly has their work cut out for them.

I do believe they will have to identify their competitors to shareholders in their SEC filings and I think it would be helpful if Brainchip at least let the shareholders know if they are still on track with their published roadmap for their next generation of processors and the new features they bring to the table.

Maybe they are two instead of three years ahead of their competition. Perhaps they have re-evaluated their progress relative to their competitors' and adjusted their estimates accordingly. I think that is at least a responsible way to manage shareholders' expectations, so I certainly wouldn't fault them for that.