Good day, and thank you for standing by. Welcome to the Allegro MicroSystems Q4 fiscal 2022 financial results. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press star one on your telephone. If you require any further assistance, please press star zero. I will now hand the conference over to your first speaker today, Katie Blye. You may begin. Good morning, and thank you for joining us today for Allegro's fourth quarter and full year results for fiscal year 2022. I'm joined today by Allegro's President and Chief Executive Officer, Ravi Vig, and Allegro's Chief Financial Officer, Derek D'Antilio. We'll review our quarterly and annual financial performance and provide a summary of our outlook. Our earnings release and the accompanying financial tables are available on the investor relations page of our website. This call is being webcast and a recording will be available on our IR page shortly. Please note that comments made during this conference call include forward-looking statements as defined by federal securities laws. These forward-looking statements include projections and other statements about future events that are based on current expectations and assumptions, and as a result, are subject to risk and uncertainties that could cause actual results to vary materially from our projections. Please refer to the earnings press release we issued yesterday and other documents filed by us with the SEC, including the risk factors discussed in detail in our most recent 10-K, filed on May 19, 2021. The company assumes no obligation to update any forward-looking information presented. The non-GAAP financial measures that are discussed today are not intended to replace or be a substitute for the presentation of Allegro's GAAP financial results and may be calculated differently than similar measures used by other companies. We are providing this supplemental information because it may enable investors to make meaningful comparisons of core operating results and more clearly highlight the results of our core ongoing operations. A reconciliation of GAAP to non-GAAP financial measures referenced during today's call can be found in our earnings press release, which has been posted to our IR page. I'll now turn the call over to Allegro's President and CEO, Ravi Vig. Ravi? Thank you, Katie, and good morning, everyone. Before we get started with our commentary on fiscal 2022 and fourth quarter results, I'd like to pause here to acknowledge the Ukraine crisis. Our hearts are with our team members in Ukraine and the people of Ukraine, and the world must stand together in support of a resolution of this terrible situation. Allegro delivered outstanding results in fiscal 2022, achieving several new records, including robust annual revenue growth of 30%, resulting in the highest annual revenue in Allegro's history, as well as record profitability, including 410 basis points of non-GAAP gross margin expansion, contributing to non-GAAP EPS growth of 70% for the full year. Our earnings growth of over 2x our revenue growth demonstrates a solid leverage in our operating model as we continue to deliver increasing profitability and shareholder value on incremental top-line growth. We capped the year off on a high note with strong fourth quarter execution to drive revenue records across all product lines and in our automotive and industrial end markets, highlighting key differentiators in the Allegro business model. Our diversification across customers, products, and end applications, as well as our alignment to high growth markets like XEV, ADAS, data center, and industrial. Importantly, in fiscal 2022, our R&D teams demonstrated a commitment to technology innovation leadership by collaborating globally to further our product roadmap through important advancements in XMR technology, disruptive solutions for ADAS applications, and market-leading solutions for XEV and data center. We've seen strong customer acceptance of our solutions with record levels of design win activity and more than 50% of these wins are on new products. Our strategic growth focus areas anchored on key trends in vehicle and infrastructure electrification, autonomous vehicle control, and efficient motion control also represented more than half of our total design wins during the year, giving us confidence in our long-term growth trajectory. With our strong alignment to these secular growth trends, large and expanding SAM, design win momentum, and record levels in growing backlog, we're off to a great start in fiscal 2023. We continue to navigate through the supply-demand imbalance, and we are raising our full year revenue growth outlook to the high teens. Before turning the call over to Derek, I'd like to comment on yesterday's announcement regarding my retirement from Allegro after 38 years. Over the course of my career, I've had the opportunity to lead and transform Allegro into the innovative company that it is today, culminating in our successful IPO in 2020 and now our record fiscal 2022 performance. I'm proud of the company we've built, the transformation we've completed, the secular growth vectors that we've aligned to, the growth and profitability trajectory that we have created, and the terrific team of people here. Vineet Nargolwala's extensive leadership experience and proven track record in multiple industries makes him a strong choice to succeed me as CEO to lead the company into the next phase of growth. I look forward to assisting both Vineet and Derek in an orderly transition and will continue serving in an advisory role to the company. Allegro's market opportunity has never been greater, and I have a great deal of confidence in the Allegro team's ability to continue delivering on profitable, outsized growth. I'll now turn the call over to Derek for color on the financials. Thank you, Ravi, and good morning, everyone. Before I move on to the financials, I'd like to take the opportunity to congratulate Ravi on his incredible career here at Allegro. As CEO, you have successfully led a tremendous strategic transformation of the company and fostered a culture of innovation that has resulted in significant revenue growth and profitability, a very successful IPO, and a record fiscal 2022. I feel we are well-positioned for continued profitable growth. Now, I'd like to provide some context on what we see in terms of market conditions. Our products are well-aligned to essential features and systems, particularly in our focus areas of XEV, ADAS, and industrial. We view our alignment to these focus areas as secular growth drivers for the company. Customer demand remains very strong across our served end markets and geographically diverse. We ended March with record firm backlog again and extended visibility. Demand continues to exceed available supply, constrained in the near term by tightness in 200-millimeter wafer availability. We have been successful in expanding our supply, especially with our ramp at TSMC, and that committed capacity is expected to support our increased fiscal 2023 growth outlook. Now, turning to the full-year fiscal 2022 financial results. Revenue for the fiscal year 2022 was a record $769 million, an increase of 30% year-over-year. Our team members continued to successfully navigate through wafer capacity and supply chain challenges, and we are pleased to have delivered revenue increases across all of our served markets and geographies. For the full year, our automotive revenue increased by 34%. This compares favorably to automotive semiconductor growth of 30%, indicative of the significant content per vehicle growth we are benefiting from due to the trend towards autonomous and electrified vehicles. In addition, we believe we are still in the early innings of a car production recovery with distributor and customer component inventories at very low levels. Our industrial revenue increased by 40% year-over-year to $133 million, and our other revenue increased by 6% year-over-year to $104 million. Our distribution channel represented 37% of fiscal 2022 sales, the result of our successful initiative to continue to improve our scale and focus in the broad market. Once again, no single customer represented more than 10% of our revenue in the year. GAAP gross margin for the year was 53% compared to 47.2% in fiscal 2021. Non-GAAP gross margin was 54.1% compared to 50% in fiscal 2021, an increase of 410 basis points. The improvements in gross margin in the year are a result of our operational transformation, higher ASPs on more feature-rich products, increased leverage of our distribution channel, and continued efficiency and leverage on higher volumes. For the full year, GAAP operating margin was 17.8% of revenue, and non-GAAP operating margin was 23.2% of revenue, an increase of 680 basis points over fiscal 2021. The significant improvement in non-GAAP operating margin is a result of both our gross margin improvements and the operating leverage on OpEx in our business model. GAAP diluted earnings per share was $0.62, and non-GAAP diluted earnings per share was $0.78, an increase of 70% year-over-year, more than double the percentage increase in revenue. From a balance sheet and liquidity standpoint, we ended the year with $290 million in cash and equivalents and $25 million in long-term debt. During fiscal 2022, we generated $156 million in cash flow from operations. Capital expenditures were $70 million, and free cash flow was $86 million. Now, turning to Q4 results. Revenue in the fourth quarter was a record high $200.3 million, an increase of 7.3% sequentially, and above the high end of our guidance range as a result of our continued ramp of our foundry partners. Automotive revenue increased 8% sequentially to $141 million and was up 19% compared to Q4 of the prior year. Industrial revenue also increased by 9% sequentially to nearly $35 million, up 19% year-over-year. Our other business grew 2% sequentially to $24.4 million, down 11% compared to last year. GAAP gross margin for the quarter was 54.7% compared to 54.2% in Q3. Non-GAAP gross margin rose another 77 basis points sequentially to 55.6% above the high end of our guidance range and an all-time high for Allegro. Non-GAAP gross margin in the quarter benefited from the timing of ASP increases versus input costs, favorable foreign exchange, and volume leverage in our internal assembly and test facility. We are very pleased with our continued gross margin expansion throughout fiscal 2022, leading to record levels last quarter. In Q1 of 2023, we expect the ASP versus input cost timing to normalize, and we expect non-GAAP gross margin to be in the 54%-55% range, consistent with what we had previously stated. We also expect to continue to make progress toward our non-GAAP gross margin target of 55% on a sustainable basis. Total GAAP operating expenses in the quarter were $79.4 million and included stock compensation charges of $14.9 million, certain one-time consulting fees, and some minor COVID-related expenses. GAAP R&D expense was $32.4 million, and GAAP SG&A expenses were $46.8 million. Non-GAAP operating expenses were $64.8 million in the quarter, or 32% of revenue, compared to $59.2 million in Q3. The sequential increase is due primarily to higher variable compensation, driven by outperformance on the top and bottom line, as well as the timing of certain R&D project related expenses. Non-GAAP R&D expense was $31.3 million, and non-GAAP SG&A was $33.5 million. We do expect non-GAAP operating expenses to revert towards our model of about 30% of revenue in Q1 of fiscal 2023. A sequential decline compared to Q4 as we reset variable compensation to new fiscal 2023 targets. GAAP operating income for the quarter was $30.2 million, and non-GAAP operating income increased to $46.5 million compared to $43.1 million in Q3. The GAAP effective tax rate in the quarter was 14.9%, and the non-GAAP effective tax rate in the quarter was 15.4%. For Q1, we expect our non-GAAP tax rate to be approximately 16%. Our Q4 diluted share count was 192.1 million shares, and we expect Q1 diluted shares could be 192.6 million. GAAP net income was $25.7 million, or 13 cents per diluted share. Non-GAAP net income was $40.2 million, or 21 cents per share. Now moving to the balance sheet and cash flow. We ended Q4 with DSO of 54 days compared to 52 days in Q3. Net inventory increased by $7 million, which represents 87 days compared to 84 days in Q3. Still below our target of about 100-110 days. In addition, channel inventories remain at historic lows while POS sell-through was at historic highs. We generated $37.6 million in operating cash flow in the quarter. In summary, fiscal 2022 was a strong growth year, capped by a record Q4, and we continue to make meaningful progress towards our target financial model. We are also entering fiscal 2023 with record backlog, alignment to secular growth drivers, great technology and products, and a strong financial position. Now I'll turn the call back over to Ravi. Ravi? Thank you, Derek. I couldn't be prouder of our team's achievements in fiscal 2022, and we have great momentum entering fiscal 2023. Looking back on the year from a product perspective, magnetic sensors represented 65% of sales in fiscal 2022, up 29% year-over-year, and all our magnetic sensor product lines achieved high revenue highs. The business became increasingly diversified as our current sensors and angle sensors won new and high-value sockets in XEV, ADAS, and industrial applications, helping cement our market leadership position. Power products represented 35% of sales in fiscal 2022, up 32% year-over-year. We saw rapid adoption of our motion control and power management solutions in automotive, data center, and industrial applications, with both power product lines achieving record highs. We recently announced that we have shipped our 3 billionth motor driver IC, a great example of the momentum we have for our motion control solutions. Moving on to markets. Automotive represented 69% of revenue in fiscal 2022, up 33% year over year, benefiting from strong content expansion, advanced driver assistance systems, comfort and convenience, and vehicle electrification applications. Within automotive, xEV and ADAS represented 36% of sales in fiscal 2022, up from 33% in fiscal 2021. In the quarter, our xEV product sales accelerated to new highs, up 75% over the prior year, comparing favorably to xEV car production, which rose 33%. The shift to xEVs continues to benefit Allegro and increases our content per vehicle. A great example of this is in the popular 2022 mid-size sedan, where our content grows from $20 in the internal combustion engine model to $30 in the battery electric model. With countless other similar examples at OEMs globally, we really do win when cars electrify. We also win with ADAS adoption. In fiscal 2022, our ADAS business reached new highs, up nearly 30% over the prior year. We are now shipping more than 200 million units into ADAS applications annually, and we continue to diversify our ADAS customer base globally at additional leaders in braking and steering. The breadth and depth of these relationships gives us the applications know-how to continue to innovate our product roadmap and provide unmatched value to our customers. Beyond braking and steering and ADAS, we're making progress in lidar. Our first prototype of a 1550-nanometer 1x4 photodetector product for automotive applications achieved outstanding performance in lab evaluations. In Q4, we sampled lead LiDAR customers, and we were encouraged by the excitement about our up-integrated, easy-to-use solution. This is the first roadmap product in our new photonics receiver platform and is important to validate our technology, serving as a foundation for our future roadmap. We're expecting to have final samples by the end of summer. As vehicles are being reimagined, we are winning in xEV and ADAS because of three core competencies, innovative technology, deep applications knowledge, and our close customer collaboration. These were showcased in a recent cross-portfolio ADAS braking win on a new system that facilitates EV regenerative braking and level 2+ ADAS features. It's a great example of the synergies in our product lines and our ability to innovate to provide best in class, future-proof, complete solutions borne out of strategic long-term collaboration with industry leaders. Across automotive, our XMR on silicon technology, which offers significant performance benefits in magnetic field sensing applications and continues to be adopted as it becomes a meaningful portion of the magnetic sensing market. We're gaining share globally in transmission and cam sensors with the broadest portfolio of GMR-based solutions on the market today. We're building on our XMR success by expanding our TMR angular sensing offerings with initial products aimed at a variety of applications where high resolution and reliability is valued by our customers from ADAS to industrial automation. Let me next turn to the industrial market. Industrial represented 17% of our revenue in fiscal 2022, up 40% year-over-year. Coming into the year, we expected that all major industrial categories would grow year over year, and our teams executed on that mission. Our products are well aligned to multiple growth vectors within industrial, in areas like industrial automation, where our sensing and motion control products help make factories more energy efficient, more productive and safer. We believe the tailwinds in automation have longevity, fueled by productivity needs along sustainability goals. Enabling the next generation EV charging infrastructure is another bright spot for Allegro. We're seeing rapid adoption of our products in EV charging systems, with revenue more than doubling year over year in fiscal 2022. We had significant design wins in the space last quarter, contributing to 10 significant design wins in Europe alone over the past 18 months. Our data center business also continues to accelerate. In Q4, it more than doubled over the prior year, and we believe the business will approach 7% of our sales by the end of this year, becoming our fastest-growing application in both a revenue and percentage basis. The market for our data center cooling solution is strong, and we estimate that our SAM will grow at the mid-teens CAGR over the next three years, surpassing $300 million. In support of the growth that we are seeing in data center, XEV, ADAS, and industrial, we continue to expand our manufacturing capabilities and capacity via our asset-light strategy. With 200 mm capacity expected to remain tight and underinvested industry-wide, we continue to expect that the industry will face a supply-demand imbalance through this year. We have pursued extended long-term commitments with our three foundry partners, securing capacity to support our current business outlook. We're also expanding our back-end supply base, and our operations team continues to take a long view to foster relationships with our partners in order to expand production capacity to support our growth in strategic areas. Certainly, our ongoing success is powered by our innovative global team and anchored on our winning culture. Our recently launched hybrid working model, Flex at Allegro, is an important cornerstone of our culture, giving us a competitive edge in the talent market while also striking a balance that's good for our business, our customers, and our planet. Programs like this help us foster a culture that drives innovation, evidenced by a strong IP portfolio, which now exceeds 1,250 active patents. Our winning culture has displayed a significant role in driving our results aligned to our broader vision to move technology and the world to a safer, more sustainable future. Now turning to our Q1 outlook. We expect sales to be in the range of $205 million-$210 million. We expect automotive and industrial to be up low single digits sequentially, while other will be flat. We expect non-GAAP gross margin to be in the range of 54%-55%. We anticipate non-GAAP earnings per share will be in the range of $0.22-$0.23. As we enter a new fiscal year, we expect our alignment to secular growth trends and strong design win momentum will continue to serve as strong growth drivers, contributing to an increase in our full-year revenue outlook to the high teens. We anticipate continued market expansion towards our operating model and continued OpEx leverage, resulting in targeted EPS growth of 2x revenue growth. I believe we're extraordinarily well positioned to seize the opportunities ahead of us to provide innovations that offer unique value to our customers, to advance safety and energy efficiency for the world, and to deliver shareholder value. We'll be now happy to take your questions. Katie Blye? Thanks, Ravi. That concludes our prepared remarks. Now we'll open the call for questions. Peter, will you please review the question and answer instructions with our participants? Yes, ma'am. As a reminder to ask a question, you will need to press star one on your telephone. Again, that is star, then the number one. To withdraw your question, press the pound key. Please stand by while we compile the Q&A roster. Your first question will come from Gary Mobley with Wells Fargo Securities. Your line is open. Good morning, everybody. I guess, changes are in the wind at Allegro MicroSystems for many of you for different reasons. Let me extend my congratulations on a strong finish to the year. With respect to changes, Ravi, if we can start there, and maybe if you can give us a little background on how you were approaching your retirement. I presume that since you have a name replacement, this has been months in the making. Am I reading that right? Yeah, the board and I have been discussing my retirement objectives for quite a while. In parallel, the board conducted a search looking for alternatives. My date was flexible based on when they found the appropriate candidate. They used an extraordinarily disciplined search methodology to look for the best available candidate. I think in Vineet, they found a worthy successor, someone who will drive the company and take us to the next level. Appreciate that. With respect to your fiscal year 2023 revenue outlook of high teens%, I would presume that, you know, once you get beyond the first quarter here, you're expecting acceleration in the top line in increments of maybe $10 million sequentially. Maybe if you could give a little background on, you know, the ramp that you're seeing at TSMC as a foundry partner and the support of that revenue acceleration. Yeah. As previously discussed, we have been on a long-term path with TSMC to grow our capacity. As previously discussed, we are expecting revenue to consistently accelerate quarter-over-quarter, with the most impactful acceleration occurring in Q3, our fiscal Q3 and our fiscal Q4. You will see quarter-over-quarter growth as we have guided, and we'll continue to see the growth as capacity comes on, as wafers come out, and as we continue to turn them into products and into shipments. The demand certainly is there for us, and especially anchored with our secular growth vectors, industrial, ADAS, XEV, all three areas are driving our demand. Thanks, Ravi. Your next question will come from Blayne Curtis with Barclays. Your line is open. Hey, thanks for taking my question. I'll echo the congrats to all. I guess maybe just follow up on that question. As you think about the fiscal 2023, if you kind of think about it between auto and industrial, I just wanna know if there's any difference in your forecast between those segments. I just wanna understand, you know, the raise, just was that your ability to get better supply, or did you always have this delta, and I guess you're just feeling more confident in the demand profile? Yeah. You know, we are a pretty deliberate company, and we had aligned our demand commitments to our customers, along with the supply commitments that we receive from our foundry partners. We're pretty well aligned, and customers have adjusted their ramps appropriately to align with supply availability. We expect that industrial will mildly outgrow our automotive business, but our automotive business also has great secular trends. The growth is really being led by the ADAS XEV area, where you see Level 2 ADAS systems, the adoption rate of them continuing to increase, and you see XEV growth year over year, quite dramatic despite anemic car production levels. That's actually a great lead into my second question. I wanted to ask a little bit more about that XEV pipeline. You've clearly seen a shift to XEV and I think projections, you know, getting to at least 50% of vehicles and then obviously further beyond that. I'm just curious from your perspective, as you look at, you know, it's either share, content, or adoption of XEV, what do you think is the biggest driver for your business over the next couple of years? You know, in prior calls, we had provided a pretty simple stat, which was one out of every two inverters were using Allegro products. In an inverter, you could have anywhere between 6-12 of our current sensors in them. We are extraordinarily well positioned globally. We're not regionally anchored. Our XEV customers are global, but we also see secondary applications like onboard chargers for our products, wall chargers. We see the DC-DC converters as being an area. Then we see in the power area, we see battery cooling fans, et cetera. This is a major growth area. The XEV year-over-year car production rate is up 44% on a fiscal year basis, when the total car production on a fiscal year basis is only up 9%. You can see the acceleration of XEV from an adoption perspective, and that's really what's giving us our secular tailwinds. Thanks so much. Your next question will come from Srini Pajjuri with SMBC Nikko Securities. Your line is open. Yeah. Good morning, Ravi and Derek. Ravi, let me echo my congrats. A question on the supply side, Ravi. You know, as more supply comes online from your foundry partners, when do you see your own balance sheet inventory normalizing? Also, when do you see channel inventory normalizing? I guess, you know, what does your high teens guidance contemplate in terms of your own balance sheet inventory and channel inventory? We don't see any material change in either one of those areas. We continue to ship our products to these growth vectors that are supported by design wins. As we said earlier, the supply-demand imbalance continues. 200-millimeter continues to be the constraint. We won't see, at least in the near future, any significant or material change in our inventory. Okay, got it. In terms of the gross margins, Derek, so you talked about, you know, the time lag between the price increases and the cost increases. I'm just curious, as we look out, you know, beyond the next quarter, what are some of the puts and takes? Are the price increases pretty much behind us, or are there more opportunities? Where do you see the potential tailwinds or headwinds as we go through the year? Yeah. Hi, Srini Pajjuri. This is Derek. Going from Q3 to Q4, the gross margin improvement was really split between some of that, about half and half between that pricing ahead of input costs and the other half was foreign exchange. The foreign exchange, of course, we don't predict going forward. In terms of going forward right now, we expect the ASP and the cost inputs to normalize, and that's baked into our forecast for Q1 and for the rest of the year. We will continue to look at strategic price increases. We'll also continue to look at ways to improve that gross margin with internal efficiencies. When I say that we got the 55.6% in Q4, we're happy about that, but we wanna be there on a sustainable basis, and we'll continue to look for efficiencies and offsetting any input costs with pricing. Got it. Thank you. Again, if you would like to ask a question, you may press star one on your telephone. Your next question will come from Quinn Bolton with Needham & Company. Hey, guys. Let me offer my congratulations, particularly to you, Ravi, for congratulations on your retirement. Wanted to start just looking at the high teens growth in fiscal 2023 on the auto side. Can you give us some sense where do you think the mix is between vehicle production gains versus content lift, fiscal 2023 versus fiscal 2022? It's a good question. I believe our fiscal 2023 car production model says that it's about 9% year-over-year growth. You know, we expect our total content growth to be 9% on top of that. There's a pretty good acceleration. As you know, we are not expecting any. We continue to expect that the internal combustion business will remain soft, but we do expect that ADAS Level and also our XEV business will continue to outperform. Great. I just wanted to ask, we've talked a lot about TSMC and increasing wafer capacity from TSMC over time. Can you give us some sense, are you seeing increases also from UMC and Polar? Yeah. We see increases from all partners, and as you know, with wafer fab capacity, it's lumpy. It's not incremental. So, we've received increased amounts of wafers from Polar. We've received an increase from UMC. We've received increased from TSMC, and we continue to expect further increases from our supply chain going into next year too. Great. My last question is just sort of really a clarification. It sounds like at least over the next few quarters, revenue growth is primarily limited by wafer capacity or wafer availability. Seasonality that you've seen in past years where the December quarter may be slower seasonally, that's not what you're expecting in fiscal 2023. Yeah, we'll expect a mild effect of basically the Christmas factory shutdowns, but we do expect that the availability of wafers and material from TSMC will far outsize the slowdown that we get from the Christmas-New Year break. That particular seasonality is not particularly impactful for our fiscal Q3 period or the early fiscal Q4 period. Great. Thank you. Again, if you would like to ask a question, you may press star one on your telephone. I'm showing no further questions at this time. I will now hand it back over to Ravi for closing remarks. Thank you, operator. With this being my last earnings call, I'd like to take this time to thank all of our shareholders and covering analysts as well as our employees, customers, and the board for their thoughtful support throughout the years. The relationships I've developed with each one of you have been rewarding and a highlight of my time at Allegro. Thank you again for all of you who have joined us today. This will conclude today's call. Thank you. This concludes today's conference call. Thank you for participating. You may now disconnect.