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SemiLEDs Reports First Quarter Fiscal Year 2025 Financial Results

1. SemiLEDs reported fiscal Q1 2025 revenue of $1.3 million, unchanged. 2. Net loss decreased slightly to $547K, same per share loss as last quarter. 3. GAAP gross margin increased to 21%, indicating potential operational improvements. 4. Cash and equivalents fell to $1.2 million, raising liquidity concerns. 5. Company's diverse LED applications may present future growth opportunities.

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FAQ

Why Bullish?

Improving gross margin suggests operational efficiency, potential future profitability.

How important is it?

Earnings release provides insight into financial health affecting investor sentiment.

Why Short Term?

Immediate operational improvements could influence price; long-term effects require sustained growth.

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LEDS
HSINCHU, Taiwan--(BUSINESS WIRE)--SemiLEDs Corporation (NASDAQ: LEDS), “SemiLEDs” or the “Company,” a developer and manufacturer of LED chips and LED components, today announced its financial results for the first quarter of fiscal year 2025, ended November 30, 2024. Revenue for the first quarter of fiscal 2025 was $1.3 million, compared to $1.3 million in the fourth quarter of fiscal 2024. GAAP net loss attributable to SemiLEDs stockholders for the first quarter of fiscal 2025 decreased to $547 thousand, or $(0.08) per diluted share, compared to a net loss of $560 thousand, or $(0.08) per diluted share, in the fourth quarter of fiscal 2024. GAAP gross margin for the first quarter of fiscal 2025 increased to 21%, compared to 12% for the fourth quarter of fiscal 2024. Operating margin for the first quarter of fiscal 2025 was negative 52%, compared with negative 62% for the fourth quarter of fiscal 2024. The Company’s cash and cash equivalents were $1.2 million at November 30, 2024, compared to $1.7 million at the end of the fourth quarter of fiscal 2024. About SemiLEDs SemiLEDs develops and manufactures LED chips and LED components for general lighting applications, including street lights and commercial, industrial, system and residential lighting, along with specialty industrial applications such as ultraviolet (UV) curing, medical/cosmetic, counterfeit detection, horticulture, architectural lighting and entertainment lighting. SemiLEDs sells blue, white, green and UV LED chips. Forward Looking Statements This press release contains statements that may constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, revenue expectations for the second quarter ending February 28, 2025, the expedited timing of the recognition of revenue relating to the buy-sell purchase orders and estimated costs of revenue related thereto, any statements about historical results that may suggest trends for SemiLEDs’ business; any statements of the plans, strategies and objectives of management for future operations; any statements of expectation or belief regarding recovery of the LED industry, market opportunities and other future events or technology developments; any statements regarding SemiLEDs’ position to capitalize on any market opportunities; and any statements of assumptions underlying any of the foregoing. These forward-looking statements are based on current expectations, estimates, forecasts and projections of future SemiLEDs’ or industry performance based on management’s judgment, beliefs, current trends and market conditions and involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. SemiLEDs’ Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) and other SemiLEDs filings with the SEC (which you may obtain for free at the SEC’s website at http://www.sec.gov) discuss some of the important risks and other factors that may affect SemiLEDs’ business, results of operations and financial condition. SemiLEDs undertakes no intent or obligation to publicly update or revise any of these forward looking statements, whether as a result of new information, future events or otherwise, except as required by law. SEMILEDS CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidated Balance Sheets (In thousands of U.S. dollars)   November 30, August 31, 2024 2024 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 1,248 $ 1,671 Restricted cash and cash equivalents 77 78 Accounts receivable (including related parties), net 261 416 Inventories, net 3,722 3,574 Prepaid expenses and other current assets 185 223 Total current assets 5,493 5,962 Property, plant and equipment, net 2,609 2,798 Operating lease right of use assets 1,041 1,091 Intangible assets, net 85 90 Investments in unconsolidated entities 949 969 Other assets 223 228 TOTAL ASSETS $ 10,400 $ 11,138 LIABILITIES AND EQUITY CURRENT LIABILITIES: Current installments of long-term debt $ 2,847 $ 2,854 Accounts payable 340 137 Accrued expenses and other current liabilities 2,799 2,936 Other payable to related parties 1,049 1,001 Operating lease liabilities, current portion 76 94 Total current liabilities 7,111 7,022 Long-term debt, excluding current installments 744 870 Operating lease liabilities, less current portion 965 997 Total liabilities 8,820 8,889 Commitments and contingencies EQUITY: SemiLEDs stockholders’ equity Common stock — — Additional paid-in capital 187,277 187,337 Accumulated other comprehensive income 3,531 3,545 Accumulated deficit (189,228 ) (188,681 ) Total SemiLEDs stockholders’ equity 1,580 2,201 Noncontrolling interests — 48 Total equity 1,580 2,249 TOTAL LIABILITIES AND EQUITY $ 10,400 $ 11,138   SEMILEDS CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidated Statements of Operations (In thousands of U.S. dollars and shares, except per share data)   Three Months Ended November 30, 2024 August 31, 2024 Revenues, net $ 1,261 $ 1,324 Cost of revenues 1,001 1,171 Gross profit 260 153 Operating expenses: Research and development 221 217 Selling, general and administrative 696 760 Gain on disposals of long-lived assets — 1 Total operating expenses 917 978 Loss from operations (657 ) (825 ) Other income (expenses): Investment loss from unconsolidated entities (3 ) (3 ) Interest expenses, net (67 ) (36 ) Other income, net 282 268 Foreign currency transaction (loss) gain , net (102 ) 34 Total other income, net 110 263 Loss before income taxes (547 ) (562 ) Income tax expense — — Net loss (547 ) (562 ) Less: Net income (loss) attributable to noncontrolling interests — (2 ) Net loss attributable to SemiLEDs stockholders $ (547 ) $ (560 ) Net loss per share attributable to SemiLEDs stockholders: Basic and diluted $ (0.08 ) $ (0.08 ) Shares used in computing net loss per share attributable to SemiLEDs stockholders: Basic and diluted 7,212 7,203

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