Loading...
•
Dec 31, 2023
AOS Q2 2024 Earnings Report
Revenue decreased due to inventory correction in gaming and weak demand for quick chargers and solar, but was offset by continued recovery across notebooks, desktop, smartphones, and power tools
Key Takeaways
Alpha and Omega Semiconductor reported fiscal Q2 2024 results, with revenue of $165.3 million, a decrease of 8.5% from the prior quarter and a GAAP net loss of $2.9 million or $0.10 per diluted share. Non-GAAP net income was $7.2 million or $0.24 per diluted share. The company ended the quarter with $162.3 million in cash and cash equivalents.
Fiscal Q2 results were in-line with guidance, driven by recovery in several sectors.
Promising signs suggest the cycle has bottomed.
Diverse product portfolio is mitigating short-term unpredictability.
Encouraging near-term strength in graphics cards, AI accelerators, smartphones, and e-mobility.
Forward Guidance
AOS expects revenue for fiscal Q3 2024 to be approximately $150 million, plus or minus $10 million. GAAP gross margin is expected to be 23.5%, plus or minus 1%, while non-GAAP gross margin is anticipated to be 25.0%, plus or minus 1%.
Challenges Ahead
- The quarter-over-quarter decrease in gross margin mainly reflects the lower factory utilization due to the seasonality and the Lunar New Year holiday.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...