Financial Data and Key Metrics Changes - Revenue reached a record $203 million, representing a 20% year-over-year growth and the first time exceeding $200 million [6][22] - Non-GAAP gross margin was 36.7%, flat quarter-over-quarter and up from 31.9% a year ago [22] - Non-GAAP EPS was $1.34, reflecting a 74% growth year-over-year [7][22] Business Line Data and Key Metrics Changes - Computing segment revenue increased by 28% year-over-year, accounting for 44% of total revenue [16] - Consumer segment revenue grew 24% year-over-year, representing 22% of total revenue [18] - Communications segment revenue was up 6% year-over-year, making up 14% of total revenue [19] - Power Supply and Industrial segments accounted for 19% of total revenue, with a 16% year-over-year increase [20] Market Data and Key Metrics Changes - Early signs of market demand slowdown were noted in end markets such as PC, smartphones, and home appliances [14] - Total backlog remains significantly higher than current capacity, indicating strong demand despite market softness [14][55] Company Strategy and Development Direction - The company is diversifying its packaging and testing operations and has begun outsourcing some steps to contract manufacturers [11] - The goal is to achieve $1 billion in annual revenue and beyond, with ongoing investments in R&D and sales [12][34] Management's Comments on Operating Environment and Future Outlook - The Shanghai lockdown has impacted operations, with an estimated revenue loss of $20 million to $25 million for the June quarter [9] - The company expects to recover a portion of lost revenue in the second half of the year as operations normalize [10] - Management remains optimistic about long-term growth driven by the global trend of electrification [11] Other Important Information - The company has a strong cash balance of $323.1 million, up from $269.3 million at the end of the previous quarter [25] - Capital expenditures for the March quarter were $43.4 million, with similar levels expected for the June quarter [26] Q&A Session Summary Question: Insights on the appliance market slowdown - Management noted that the slowdown is more from the demand side and not geographically concentrated [32] Question: OpEx increase in June - The increase is primarily due to investments in R&D and sales and marketing to support business growth [34] Question: Recovery of gross margin post-lockdowns - Management expects a return to normal gross margin levels in the second half of the year, depending on production dynamics [38] Question: Revenue recapture from Shanghai production loss - A portion of the production loss is expected to be recaptured, with ongoing wafer production unaffected [41] Question: Design win activity - Design wins remain steady, with a focus on both core and emerging markets [74]

Alpha and Omega Semiconductor Limited (NASDAQ:AOSL) Q2 2022 Results Conference Call February 7, 2022 5:00 PM ET Company Participants Gary Dvorchak - IR Dr. Mike Chang - Chief Executive Officer Stephen Chang - President Yifan Liang - Chief Financial Officer Conference Call Participants David Williams - Benchmark Michael Mani - B. Riley Securities Jeremy Kwan - Stifel Operator Good evening. Thank you for attending today's Alpha and Omega Semiconductor Fiscal Q2 2022 Earnings Call. My name is Bethany, and I wi ...

Alpha and Omega Semiconductor Limited (NASDAQ:AOSL) Q1 2021 Earnings Conference Call November 5, 2020 5:00 PM ET Company Participants Gary Dvorchak - IR Mike Chang - Chairman and CEO Stephen Chang - EVP, Product Line Management Yifan Liang - CFO Conference Call Participants Craig Ellis - B. Riley FBR David Williams - Loop Capital Jeremy Kwan - Stifel Operator Ladies and gentlemen, thank you for standing by, and welcome to Alpha and Omega Semiconductor Financial Results for the Fiscal First Quarter of 2021 C ...

Title of each class Trading Symbol(s) Name of each exchange on which registered Common Shares AOSL The NASDAQ Global Select Market UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________ FORM 10-Q _________________________________ (MARK ONE) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ...

Revenue and Financial Performance - Revenue from PC markets accounted for approximately 41.1%, 45.9%, and 41.6% of total revenue for the years ended June 30, 2020, 2019, and 2018 respectively[91]. - Revenue for the fiscal year ended June 30, 2020, was $464.9 million, an increase of 3.5% from $450.9 million in 2019[263]. - Gross profit for the fiscal year 2020 was $102.7 million, down from $115.4 million in 2019, representing a decrease of 11%[263]. - The company reported a net loss attributable to Alpha and Omega Semiconductor Limited of $6.6 million for the fiscal year 2020, compared to a net income of $1.9 million in 2019[263]. - As of June 30, 2020, cash and cash equivalents were $158.5 million, an increase from $121.9 million in 2019[265]. - The total assets of the company as of June 30, 2020, were $792.9 million, up from $739.4 million in 2019, indicating a growth of 7.2%[265]. Market Demand and Trends - The company has experienced increased demand for PC-related products due to the COVID-19 pandemic, but future demand remains uncertain[85]. - There has been a shift in market demand, with increased demand for notebooks, PCs, and gaming devices, while mobile phone product demand has decreased[275]. Operational Challenges - Supply chain challenges have been exacerbated by COVID-19, affecting manufacturing activities and ramp-up timelines for the Chongqing facility[85]. - The company expects difficulties and logistical challenges in operations due to COVID-19 measures, which may reduce workforce productivity and delay product shipping[276]. - The long-term economic impact of the COVID-19 pandemic remains uncertain, with ongoing monitoring and potential alterations to business operations[277]. Strategic Initiatives and Risks - The company is developing a new digital power business, expecting significant startup costs, with no guarantee of short-term revenue offset[88][89]. - Diversification efforts into new market segments may expose the company to new risks and require significant resource management[92][93]. - The company must enhance its management systems and operational capabilities to effectively manage diversification and mitigate risks[94]. - The establishment of the joint venture is expected to enhance growth and profitability, but there are no guarantees of success due to various operational risks[111][112]. Competition and Market Position - The semiconductor industry is highly competitive, with major competitors including Infineon Technologies, ON Semiconductor, and Texas Instruments, which could impact market share and revenue[130][131]. - The company's ability to compete effectively is challenged by competitors with greater resources, brand recognition, and established customer relationships[131][132]. Legal and Regulatory Issues - The U.S. Department of Justice is investigating the company's compliance with export control regulations related to transactions with Huawei, which may negatively impact revenue and financial performance[172]. - The company has not shipped any products to Huawei since December 31, 2019, due to compliance with export control regulations, and is currently cooperating with the U.S. Department of Justice in an ongoing investigation[247]. - The company is exposed to legal proceedings, including a putative class action lawsuit alleging material misstatements regarding its business and operations[248]. Financial Liabilities and Risks - The joint venture company in China has incurred a total debt of $140.7 million as of June 30, 2020, which requires interest payments to service[116]. - The company may face warranty and product liability claims that exceed revenue from affected products, potentially leading to significant costs[123]. - The company's debt agreements include financial covenants that may limit its ability to pursue business opportunities and could lead to default risks[190]. Research and Development - Research and development expenses increased to $51.3 million in 2020, up from $46.4 million in 2019, reflecting a growth of 6%[263]. - The company introduced over 160 new products in the fiscal year ended June 30, 2020, contributing to a total portfolio of approximately 2,300 products[268]. Supply Chain and Manufacturing - The company relies on third-party foundries for manufacturing, with HHGrace supplying 12.7%, 14.1%, and 15.4% of wafers used in products for the fiscal years ended June 30, 2020, 2019, and 2018, respectively[134]. - The company may experience significant production difficulties, including lower manufacturing yields and quality problems, which could adversely affect revenue opportunities[118]. - Manufacturing costs and capacity utilization significantly affect gross margins, with potential wafer capacity constraints impacting the ability to meet customer demand[282]. Intellectual Property - The company owns 823 issued U.S. patents expiring between 2022 and 2039 and has 76 pending patent applications, highlighting its focus on intellectual property protection[163]. Economic and Environmental Factors - The Chinese economy's slowdown could adversely affect business operations and financial results, with significant government involvement and control[202]. - The company’s operations are subject to environmental regulations that could lead to substantial fines or delays in production if compliance is not met[153].

Alpha and Omega Semiconductor Limited (NASDAQ:AOSL) Q4 2020 Earnings Conference Call August 11, 2020 5:00 PM ET Company Participants Gary Dvorchak - Investor Relations Mike Chang - Chief Executive Officer Stephen Chang - Executive Vice President Yifan Liang - Chief Financial Officer Conference Call Participants Craig Ellis - B. Riley FBR David Williams - Loop Capital Jeremy Kwan - Stifel Operator Ladies and gentlemen, thank you for standing by, and welcome to the Alpha and Omega Semiconductor Reports Financ ...

[Part I. FINANCIAL INFORMATION](index=3&type=section&id=Part%20I.%20FINANCIAL%20INFORMATION) [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) The unaudited condensed consolidated financial statements for the period ended March 31, 2020, show a decrease in cash and cash equivalents to $110.2 million and an increase in total assets to $767.3 million, with a net loss attributable to AOS of $6.5 million for the third quarter and for the nine months ended March 31, 2020 [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2020, the company's total assets increased to $767.3 million from $739.4 million, driven by property, plant, and equipment, while total liabilities rose to $337.6 million and total equity slightly decreased to $429.7 million Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2020 | June 30, 2019 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $110,223 | $121,893 | | Inventories | $127,395 | $111,643 | | Total current assets | $291,931 | $295,298 | | Property, plant and equipment, net | $412,318 | $409,737 | | **Total assets** | **$767,295** | **$739,394** | | **Liabilities & Equity** | | | | Total current liabilities | $190,834 | $177,964 | | Total liabilities | $337,566 | $296,105 | | Total equity | $429,729 | $443,289 | | **Total liabilities and equity** | **$767,295** | **$739,394** | [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For the three months ended March 31, 2020, revenue decreased 2.0% year-over-year to $106.9 million, resulting in a gross profit of $22.5 million and an increased net loss attributable to AOS of $6.5 million, or ($0.26) per share, due to lower gross profit and higher operating expenses Key Operating Results (in thousands, except per share data) | Metric | Three Months Ended Mar 31, 2020 | Three Months Ended Mar 31, 2019 | Nine Months Ended Mar 31, 2020 | Nine Months Ended Mar 31, 2019 | | :--- | :--- | :--- | :--- | :--- | | Revenue | $106,852 | $109,067 | $342,514 | $339,064 | | Gross Profit | $22,459 | $25,629 | $73,797 | $87,742 | | Operating Loss | $(8,619) | $(3,735) | $(12,610) | $(6,062) | | Net Loss attributable to AOS | $(6,495) | $(1,555) | $(6,491) | $(684) | | Diluted EPS | $(0.26) | $(0.06) | $(0.26) | $(0.03) | [Condensed Consolidated Statements of Cash Flows](index=11&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the nine months ended March 31, 2020, net cash provided by operating activities slightly decreased to $22.0 million, while net cash used in investing activities significantly decreased to $47.7 million, and net cash provided by financing activities was $16.5 million Cash Flow Summary (Nine Months Ended Mar 31, in thousands) | Activity | 2020 | 2019 | | :--- | :--- | :--- | | Net cash provided by operating activities | $22,023 | $23,156 | | Net cash used in investing activities | $(47,655) | $(90,295) | | Net cash provided by financing activities | $16,494 | $77,477 | | **Net (decrease) increase in cash** | **$(9,774)** | **$9,765** | [Notes to Condensed Consolidated Financial Statements](index=13&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed disclosures on the financial statements, covering the impact of COVID-19, lease accounting, the Chongqing JV, debt, share-based compensation, CARES Act tax benefits, and contingencies like the DOJ investigation regarding Huawei - The company identified the COVID-19 pandemic as a significant risk, noting a decline in demand for some products (smartphones, industrial) offset by increases in others (notebooks, PCs, gaming)[22](index=22&type=chunk) - The company is under investigation by the U.S. Department of Justice ("DOJ") regarding compliance with export control regulations related to Huawei, leading to suspended shipments to Huawei after December 31, 2019[122](index=122&type=chunk) - A shareholder class-action lawsuit was filed against the company and its management in March 2020, alleging material misstatements regarding export control practices related to Huawei[123](index=123&type=chunk) - The company recognized a **$1.1 million discrete tax benefit** related to the U.S. CARES Act, which allows for the carryback of net operating losses[107](index=107&type=chunk)[108](index=108&type=chunk) - The Chongqing JV, **51% owned by the company**, commenced limited mass production at its 12-inch wafer fab in July 2019[29](index=29&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=39&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's performance, significantly affected by the COVID-19 pandemic, Chongqing JV ramp-up costs, and a government investigation into export controls, resulting in a 2.0% YoY revenue decrease to $106.9 million and a gross margin decline to 21.0% for Q3 FY20, while maintaining sufficient liquidity [Results of Operations](index=44&type=section&id=Results%20of%20Operations) For Q3 FY20, revenue decreased 2.0% YoY to $106.9 million, primarily due to an 11.0% decline in Power IC sales, leading to a gross margin contraction to 21.0% and an operating loss of $8.6 million, partially offset by a $1.0 million tax benefit Revenue by Product Type (Q3 FY20 vs Q3 FY19, in thousands) | Product Type | Q3 2020 | Q3 2019 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Power discrete | $89,932 | $89,936 | $(4) | 0.0% | | Power IC | $15,699 | $17,631 | $(1,932) | (11.0)% | | Packaging and testing services | $1,221 | $1,500 | $(279) | (18.6)% | | **Total Revenue** | **$106,852** | **$109,067** | **$(2,215)** | **(2.0)%** | - Gross margin for Q3 FY20 decreased to **21.0%** from **23.5%** in Q3 FY19, primarily due to low capacity utilization from the commencement of limited mass production in the Chongqing joint venture[173](index=173&type=chunk) - Selling, general and administrative (SG&A) expenses for Q3 FY20 decreased by **$1.0 million** YoY, mainly due to lower pre-production costs at the JV, offset by a **$2.4 million increase** in legal expenses related to the government investigation[177](index=177&type=chunk) [Liquidity and Capital Resources](index=49&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2020, the company had $114.5 million in cash, cash equivalents, and restricted cash, believing its current liquidity and cash flows from operations are sufficient for the next twelve months, supported by various debt facilities for operations and capital expenditures - As of March 31, 2020, the company had cash, cash equivalents, and restricted cash of **$114.5 million**, of which **$99.5 million** was held outside the United States[204](index=204&type=chunk) - The company did not repurchase any shares during the nine months ended March 31, 2020, with approximately **$13.4 million** remaining available under the share repurchase program[201](index=201&type=chunk)[241](index=241&type=chunk) - Subsequent to the quarter end, in April 2020, the JV Company entered into new loan agreements totaling **RMB 350 million** (approximately **$50 million**)[185](index=185&type=chunk)[186](index=186&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=54&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company reports no material changes in its market risks since the disclosures in its Annual Report on Form 10-K for the fiscal year ended June 30, 2019 - There have been no material changes in market risks since the last annual report filed on August 23, 2019[217](index=217&type=chunk) [Controls and Procedures](index=54&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of March 31, 2020, with no material changes to internal control over financial reporting identified during the quarter - Management concluded that disclosure controls and procedures were effective as of March 31, 2020[218](index=218&type=chunk) - No material changes to internal control over financial reporting were identified during the quarter[219](index=219&type=chunk) [Part II. OTHER INFORMATION](index=55&type=section&id=Part%20II.%20OTHER%20INFORMATION) [Legal Proceedings](index=55&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in an ongoing U.S. Department of Justice investigation into export control compliance related to Huawei, leading to suspended shipments, and faces a shareholder class-action lawsuit alleging misstatements regarding these practices, which the company intends to vigorously defend - The U.S. Department of Justice (DOJ) is investigating the company's compliance with export control regulations related to business with Huawei[222](index=222&type=chunk) - As requested by the Department of Commerce (DOC), the company suspended all product shipments to Huawei after December 31, 2019[222](index=222&type=chunk) - A shareholder class-action lawsuit (Gray Action) was filed on March 19, 2020, alleging misstatements regarding the company's export control practices[223](index=223&type=chunk) [Risk Factors](index=55&type=section&id=Item%201A.%20Risk%20Factors) This section highlights material changes to risk factors, including the adverse effects of the COVID-19 pandemic, the ongoing government investigation into export controls, potential U.S.-China tariffs, and disruptions to information technology systems, all posing significant operational and financial challenges - **COVID-19 Pandemic:** The company is experiencing a significant decline in product demand, work stoppages, and logistical challenges due to the pandemic, with the long-term impact remaining highly uncertain[227](index=227&type=chunk)[228](index=228&type=chunk) - **Government Investigation & Export Controls:** The ongoing DOJ investigation and suspension of shipments to Huawei negatively impact revenue and incur significant legal costs, with evolving U.S. export regulations potentially further restricting business with customers in China[234](index=234&type=chunk)[235](index=235&type=chunk) - **Tariffs:** The potential for new or additional U.S. tariffs on goods from China could reduce demand for the company's products or lower gross margins[238](index=238&type=chunk) - **IT System Disruption:** The company's operations are dependent on its IT systems, which are vulnerable to cyber-attacks like ransomware, potentially causing business disruptions and increased costs[239](index=239&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=58&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company did not repurchase any shares under its $30.0 million share repurchase program during the three months ended March 31, 2020, leaving approximately $13.4 million available for future repurchases - The company did not repurchase any of its common shares during the three months ended March 31, 2020[241](index=241&type=chunk) - As of March 31, 2020, approximately **$13.4 million** remained available under the company's share repurchase program[241](index=241&type=chunk)

Alpha and Omega Semiconductor Limited (NASDAQ:AOSL) Q3 2020 Earnings Conference Call May 5, 2020 5:00 PM ET Company Participants So-Yeon Jeong - Investor Relations Mike Chang - Chief Executive Officer Stephen Chang - Executive Vice President Yifan Liang - Chief Financial Officer Conference Call Participants David Williams - Loop Capital Tore Svanberg - Stifel Craig Ellis - B. Riley FBR Operator Ladies and gentlemen, thank you for standing by, and welcome to the Alpha and Omega Semiconductor Reports Financia ...

Product Development - The company introduced approximately 2,100 power semiconductor products, with 200 new products launched in both fiscal years 2019 and 2018, and an additional 45 new products in the six months ended December 31, 2019[108]. - The company has an extensive patent portfolio consisting of 804 patents and 87 patent applications in the United States, along with 833 foreign patents as of December 31, 2019[108]. Revenue and Sales Performance - Revenue from the personal computing (PC) market accounted for approximately 41.3% and 48.5% of total revenue for the three months ended December 31, 2019 and 2018, respectively[119]. - Total revenue for Q3 2019 was $117.9 million, an increase of $2.9 million, or 2.6%, compared to $114.9 million in Q3 2018[139]. - Total revenue for the six months ended December 31, 2019, was $235.7 million, an increase of $5.7 million, or 2.5%, compared to $230.0 million in the same period last year[140]. - Power discrete sales increased by $8.2 million, while power IC sales decreased by $4.7 million, leading to a net increase in sales[139]. - Sales of power discrete increased by $16.5 million, while power IC sales decreased by $8.4 million during the six-month period[140]. - Average selling price increased by 7.6% compared to the same quarter last year, despite a 4.1% decrease in unit shipments[139]. - Average selling price for power discrete and power IC products increased by 14.1% compared to the same period last year, despite a 9.1% decrease in unit shipments[140]. Financial Performance - Cost of goods sold for Q3 2019 was $93.5 million, representing 79.3% of revenue, compared to 74.3% in Q3 2018[135]. - Gross profit for Q3 2019 was $24.4 million, or 20.7% of revenue, down from 25.7% in Q3 2018[135]. - Operating expenses for Q3 2019 totaled $27.8 million, or 23.6% of revenue, compared to 28.5% in Q3 2018[135]. - Research and development expenses for Q3 2019 were $12.1 million, representing 10.3% of revenue, slightly down from 11.0% in Q3 2018[135]. - Gross profit for the three months ended December 31, 2019, was $24.4 million, a decrease of $5.1 million, or 17.3%, compared to $29.5 million for the same quarter last year[141]. - Gross margin for the six months ended December 31, 2019, decreased by 5.2 percentage points to 21.8% compared to 27.0% for the same period last year[142]. - Research and development expenses for the six months ended December 31, 2019, were $24.5 million, an increase of $0.5 million, or 2.2%, compared to $24.0 million for the same period last year[144]. - Selling, general and administrative expenses for the six months ended December 31, 2019, were $30.8 million, a decrease of $9.6 million, or 23.8%, compared to $40.5 million for the same period last year[146]. Joint Venture and Market Position - The joint venture company recorded a net loss of $3.6 million and $6.4 million attributable to noncontrolling interest during the three and six months ended December 31, 2019[110]. - The company anticipates that the joint venture will enhance market positions in China and drive improvements in capital expenditures[110]. - The company is incurring increased operating expenses due to costs associated with ramping up production at the joint venture and developing a new digital power business[114]. Future Outlook - The company expects a decrease in production during the quarter ending March 31, 2020, due to the coronavirus outbreak and extended Chinese New Year holiday[110]. - The company expects average selling prices of existing products to decline in the future, consistent with historical trends in the industry[117]. Compliance and Investigations - The company is currently under investigation by the U.S. Department of Justice regarding compliance with export control regulations, which may negatively impact financial performance[122]. Cash Flow and Financing - As of December 31, 2019, the company had $111.5 million in cash and cash equivalents, down from $124.3 million as of June 30, 2019[168]. - Net cash used in operating activities for the six months ended December 31, 2019 was $7.7 million, primarily due to a net loss of $6.4 million and net changes in assets and liabilities of $12.4 million[169]. - Net cash used in investing activities for the six months ended December 31, 2019 was $31.2 million, mainly for purchases of property and equipment totaling $32.4 million[173]. - Net cash provided by financing activities for the six months ended December 31, 2019 was $11.0 million, primarily from $33.7 million in borrowings[175]. - The outstanding balance of the lease financing as of December 31, 2019 was approximately $50.3 million[160]. - The company had an unused credit of approximately $30.0 million under a factoring agreement with HSBC as of December 31, 2019[159]. - As of December 31, 2019, the outstanding balance of a loan agreement with China Development Bank was $24.0 million[161]. - The company had $13.4 million remaining available under the share repurchase program as of December 31, 2019[166]. - The company drew down 190 million RMB (approximately $28.2 million) from a loan agreement with The Export-Import Bank of China as of December 31, 2019[162]. - The company was in compliance with all financial covenants as of December 31, 2019[163].