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Dec 31, 2025
AOS Q2 2026 Earnings Report
Alpha and Omega Semiconductor reported financial results for the fiscal second quarter of 2026.
Key Takeaways
Alpha and Omega Semiconductor (AOS) reported a revenue of $162.3 million for the fiscal second quarter of 2026, a decrease of 11.1% from the prior quarter and 6.3% from the same quarter last year. The company experienced a GAAP net loss of $13.3 million, or $0.45 per diluted share, and a non-GAAP net loss of $4.7 million, or $0.16 per diluted share. Despite the overall decline, the company noted strength in Communications, particularly sales to a Tier One U.S. smartphone customer, reflecting market share gains and increased BOM content on premium platforms.
Revenue for Q2 2026 was $162.3 million, an 11.1% decrease quarter-over-quarter and a 6.3% decrease year-over-year.
GAAP net loss was $13.3 million ($0.45 per diluted share), while non-GAAP net loss was $4.7 million ($0.16 per diluted share).
GAAP gross margin was 21.5%, down from 23.5% in the prior quarter and 23.1% in the same quarter last year.
The company closed the quarter with $196.3 million in cash and cash equivalents, with consolidated cash flows used in operating activities totaling $8.1 million.
Forward Guidance
For the fiscal third quarter ending March 31, 2026, AOS anticipates revenue to be approximately $160 million, plus or minus $10 million. GAAP gross margin is expected to be 20.2%, plus or minus 1%, with non-GAAP gross margin at 21.0%, plus or minus 1%. GAAP operating expenses are projected to be in the range of $52.0 million, plus or minus $1 million, and non-GAAP operating expenses are expected to be $45.0 million, plus or minus $1 million.
Positive Outlook
- Anticipated sequential improvement in product mix and increasing contributions from higher-performance applications beginning in the June quarter.
- Focused R&D investments in performance-driven applications where the company has strong positions and customer relationships.
- Growth in advanced computing driven by a broader array of applications for AI data centers.
- Anticipated growth in smartphones due to a rapid transition to higher charging currents, generating increased BOM content for battery protection.
- Interest income is expected to be $1.0 million higher than interest expense.
Challenges Ahead
- Overall PC demand in calendar 2026 is expected to be impacted by tightening memory supply.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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