Orders were pushed out due to the pandemic so there is a lot of pent-up demand, although it remains to be seen how fast that is materializing.
Structurally, the company is in a very good place with critical solutions for several fast-growing segments, silicon photonics, and especially silicon carbide where they have Tier 1 customers.
Silicon Carbide especially is set for multi-year expansion driven by the EV and EV charger infrastructure market.
With overhead relatively fixed a substantial part of the coming growth will filter through to the bottom line.