Hey, it’s Bryan from Oxide, back with another FAQ Friday, and joined by my co-founder and Oxide CEO, Steve Tuck. Steve, a question we are definitely getting this week is:
Are you kidding me? You guys raised again? A $445 million Series D, that is a lot of dough. Why did we raise?
Steve: Coming on the back of a $200 million Series C, a $100 million Series B, and the thing we haven’t talked about is in April, we paid taxes.
Bryan: Hey, cheers.
Steve: Oxide turned profitable, which begs the question again, "Why are you raising more capital?" Well, the answer is because demand for Oxide’s products continues to outstrip supply. And that’s great news, but it means that we have to invest even more in manufacturing capacity, production capacity, because we want to make sure as customers have urgent deadlines, large projects, we can stay a step ahead. And this fundraiser is going to help us do that.
Bryan: And we’ve had some eye-wateringly large POs for components. I mean, we’ve got some components where you look at the amount, you have to take a deep breath like, holy God, that’s a lot of money.
Steve: And that’s just the beginning. I mean, once you solve for memory, you’ve got to go solve for storage. When you solve for storage, you’re solving for electrical components. Kind of all the way down.
Bryan: Don’t sleep on PCIe clock buffers.
Steve: Don’t sleep on clock buffers. So this is really, really important because it allows us to get out ahead of supply chain, manufacturing capacity, and again, ensure our customers can have confidence to build.
Bryan: And surely we are sufficiently well capitalized for arbitrary demand, it feels like at this point.
Steve: You will not be hearing from us on fundraising for a while.
Bryan: Cheers. And hey, here’s to being profitable. Good stuff.
Steve: Here’s to being profitable.
Bryan: Thanks, everyone. And see you next time.