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Dec 31, 2021
AOS Q2 2022 Earnings Report
AOS's financial performance improved with revenue growth and increased profitability.
Key Takeaways
Alpha and Omega Semiconductor reported strong financial results for the fiscal second quarter of 2022, with revenue reaching $193.3 million, a 3.4% increase from the prior quarter and a 21.7% increase from the same quarter last year. GAAP net income per diluted share attributable to AOS was $13.54, primarily due to gain on deconsolidation and changes of equity interest in the JV Company, and non-GAAP net income per share attributable to AOS was $1.20.
Revenue increased by 3.4% sequentially and 21.7% year-over-year, reaching $193.3 million.
GAAP gross margin improved to 35.4%, up from 34.5% in the prior quarter and 30.7% in the same quarter last year.
GAAP net income per diluted share attributable to AOS was $13.54, primarily due to gain on deconsolidation and changes of equity interest in the JV Company.
Non-GAAP net income per share attributable to AOS was $1.20, compared to $1.06 for the prior quarter and $0.65 for the same quarter last year.
Forward Guidance
AOS expects revenue to be approximately $194 million, plus or minus $3 million for the third quarter of fiscal year 2022. GAAP gross margin is expected to be approximately 35.1% plus or minus 1%, and non-GAAP gross margin is expected to be approximately 36.0% plus or minus 1%.
Positive Outlook
- Revenue is expected to be approximately $194 million, plus or minus $3 million.
- GAAP gross margin is expected to be approximately 35.1% plus or minus 1%.
- Non-GAAP gross margin is expected to be approximately 36.0% plus or minus 1%.
- GAAP operating expenses are expected to be in the range of $41.9 million plus or minus $1 million.
- Non-GAAP operating expenses are expected to be in the range of $34.5 million plus or minus $1 million.
Challenges Ahead
- Non-GAAP gross margin excludes $0.8 million amortization of acquired IP.
- Non-GAAP gross margin excludes $1.0 million of estimated share-based compensation charge.
- Non-GAAP operating expenses exclude $7.0 million of estimated share-based compensation charge.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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