Pado Wins 47 Billion KRW SSD Finished Product Order from Taiwan's Macnica Galaxy

Two New Orders in the New Year Totaling 67.3 Billion KRW
Largest Single Contract Volume in Company History
Surge in AI Data Center Demand Drives Growth

Pado, a semiconductor design company, announced on January 22 that it has received an order worth 47 billion KRW for finished SSD (Solid State Drive) products from Macnica Galaxy Inc., a Taiwanese semiconductor solutions company.

This is the largest single contract in the company's history and exceeds its total annual sales of 43.5 billion KRW in 2024. The order updates the previously announced 21.5 billion KRW contract from November 5 last year, reflecting increased supply volume and rising SSD prices.

According to this disclosure, 50% of the contract amount will be paid in March, with the remainder to be recognized as revenue in the second half of this year.

Additionally, on January 13, Pado announced that it had signed an SSD controller supply contract worth 20.3 billion KRW with an overseas NAND flash memory manufacturer. This is also the largest single controller supply contract in the company's history.

Exterior view of Pado headquarters. Pado

Combined, the two orders total 67.3 billion KRW, nearly matching the company's cumulative annual sales of 68.5 billion KRW up to the third quarter of last year with just two orders in the new year.

Pado recorded a series of five large orders, each exceeding 10 billion KRW, in the second half of last year alone. In addition to its main business of supplying SSD controllers to major North American tech companies, Pado has also expanded its white-label SSD sales targeting the Asian market, including Taiwan, thereby diversifying both its customer base and strategic footholds.

Pado's expansion of new orders aligns with the global surge in demand for storage devices in artificial intelligence (AI) data centers.

Lee Ji-hyo, CEO of Pado, stated, "The technological capabilities and customer trust we have built over the years are finally bearing fruit as the adoption of Gen5 begins in earnest. As SSDs and storage have been identified as performance bottlenecks in AI data centers, we expect Pado's products to become even more prominent." He added, "Based on the technological expertise recognized in the U.S. big tech market, we are focusing on developing next-generation products such as Gen6 and Gen7 to secure global technology leadership. Leveraging this, we aim to aggressively target markets not only in the United States but also worldwide, growing into an export-driven, comprehensive fabless company that contributes to the national economy."