Diodes Incorporated reported first-quarter fiscal 2025 results, exceeding revenue expectations with $332.1 million, a 10% increase year-over-year. Despite a GAAP net loss of $4.4 million, non-GAAP adjusted net income was $8.8 million. The company saw improving market conditions in key segments and is guiding for continued year-over-year growth in the second quarter.
Revenue for Q1 2025 was $332.1 million, a 10% increase compared to $302.0 million in Q1 2024.
The company reported a GAAP net loss of $4.4 million, or $0.10 per diluted share, compared to GAAP net income of $14.0 million, or $0.30 per diluted share, in Q1 2024.
Non-GAAP adjusted net income was $8.8 million, or $0.19 per diluted share, compared to $13.0 million, or $0.28 per diluted share, in Q1 2024.
EBITDA was $26.2 million, or 7.9% of revenue, down from $48.3 million, or 16.0% of revenue, in Q1 2024.
For the second quarter of 2025, Diodes expects revenue to be approximately $355 million, plus or minus 3 percent, representing 11 percent over the prior year period at the mid-point. GAAP gross margin is expected to be 31.8 percent, plus or minus 1 percent. Non-GAAP operating expenses are expected to be approximately 28.0 percent of revenue, plus or minus 1 percent. Net interest income is expected to be approximately $1.5 million, and the income tax rate is expected to be 18.0 percent, plus or minus 3 percent.
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