Financial Performance - The company aims to achieve $1.0 billion in gross profit based on $2.5 billion in revenue, targeting a gross margin of 40%[23] - Total net sales for 2024 were $1.311 billion, a decline from $2.001 billion in 2022, reflecting a decrease in demand for semiconductors[35] - Net sales from products shipped to China decreased to $589.5 million in 2024 from $941.3 million in 2022, attributed to inventory adjustments and lower demand[35] Market Segmentation - In 2024, the company reported that 25% of its revenue came from the computing market, up from 23% in 2023[30] - The automotive market accounted for 19% of revenue in both 2024 and 2023, indicating stable demand in this segment[30] - The company focuses on high-margin market segments, including automotive and industrial applications, to drive growth[19] Customer Base and Relationships - The company serves over 50,000 customers globally, with a diverse customer base that mitigates susceptibility to market fluctuations[20] - The company serves over 50,000 customers globally, with direct sales and EMS customers accounting for 37% of net sales in 2024, up from 30% in 2022[32] - The company focuses on expanding relationships with existing customers while pursuing new customers in the global consumer electronics sector[32] - The company maintains a commitment to customer-focused product development, fostering deep relationships that enhance demand for its products[21] Product Development and Innovation - The company completed the acquisition of Fortemedia, Inc. in October 2024 to enhance its product portfolio in advanced voice processing technologies[29] - The company plans to continue expanding its product portfolio by developing enhanced performance devices targeting adjacent markets[25] - The company reported a significant increase in design wins during 2024 and 2023, particularly in AI applications and high-growth markets[24] Manufacturing and Operations - Manufacturing operations are designed for flexibility, allowing rapid adjustments to capacity and product mix in response to market demand[18] - The company operates assembly and test facilities in China, Taiwan, and Germany, and wafer fabrication facilities in multiple countries including the U.S.[38] Financial Management and Capital Expenditures - Cash capital expenditures for 2024 were approximately $73.0 million, down from $150.8 million in 2023[38] - The company's outstanding principal long-term debt was $20.7 million and outstanding short-term debt was $31.4 million as of December 31, 2024[274] - A 1.0% increase or decrease in interest rates would affect annual interest rate expense by approximately $0.5 million[274] Currency and Hedging - If the Chinese Yuan, Taiwanese dollar, Euro, and British Pound Sterling were to weaken or strengthen by 1.0% against the U.S. dollar, the company would experience a currency transaction gain or loss of approximately $3.7 million[270] - The company has entered into hedging arrangements to mitigate foreign currency fluctuations[272] Employee and Human Capital Management - As of December 31, 2024, the company employed 8,593 employees, with 7,259 in Asia, 453 in the Americas, and 881 in Europe[58] - The company emphasizes the importance of human capital management, including employee retention and training, to support long-term growth[52][54] Competitive Landscape - The competitive landscape includes major players like Infineon Technologies and Texas Instruments, necessitating product repositioning and price adjustments[49] Regulatory and Environmental Considerations - The company has not experienced material capital expenditures for environmental controls in the past three years[59] - The company has a defined benefit plan in the U.K. that was underfunded, reflecting a liability of approximately $7.3 million as of December 31, 2024[273] - The weighted-average discount rate assumption for the defined benefit plan was 4.7% as of December 31, 2024[273] Order Backlog and Market Trends - The backlog of orders is subject to cancellation or modification, and the company expects a trend towards shorter lead times to continue[41][42] - The company’s net sales are historically affected by the cyclical nature of the semiconductor industry, with the fourth quarter typically showing the smallest revenue[66] Marketing Strategy - The marketing strategy includes participation in industry tradeshows and online marketing to enhance product visibility and customer engagement[36]

Financial Performance - Fourth quarter 2024 revenue was $339.3 million, a 5% increase year-over-year from $322.7 million in Q4 2023[4] - GAAP gross profit for Q4 2024 was $110.9 million, with a gross profit margin of 32.7%, down from 34.9% in Q4 2023[4] - GAAP net income for Q4 2024 was $8.2 million, or $0.18 per diluted share, compared to $25.3 million, or $0.55 per diluted share in Q4 2023[8] - Non-GAAP adjusted net income for Q4 2024 was $12.5 million, or $0.27 per diluted share, down from $23.4 million, or $0.51 per diluted share in Q4 2023[9] - EBITDA for Q4 2024 was $40.7 million, representing 12.0% of revenue, compared to 18.1% in Q4 2023[11] - Net income attributable to common stockholders for the three months ended December 31, 2024, was $8.241 million, a significant decline from $25.292 million in the same period of 2023, representing a decrease of approximately 67.4%[24] - Diluted earnings per share for the twelve months ended December 31, 2024, was $0.95, compared to $4.91 in 2023, indicating a decrease of about 80.7%[24] - Non-GAAP adjusted net income for the three months ended December 31, 2024, was $12.465 million, compared to $23.424 million in the same period of 2023, a decrease of approximately 46.8%[26] - EBITDA for Q4 2024 was $40.746 million, compared to $58.353 million in Q4 2023, reflecting a decrease of approximately 30.3%[50] - Net income for Q4 2024 was $8.241 million, down from $25.292 million in Q4 2023, representing a decline of about 67.5%[50] Cash Flow and Assets - Cash flow from operations for Q4 2024 was $81.8 million, with free cash flow of $62.1 million after $19.7 million in capital expenditures[12] - Free cash flow (FCF) for Q4 2024 was $62.1 million, indicating the cash generated after capital expenditures[47] - As of December 31, 2024, the company had approximately $322 million in cash and cash equivalents and total debt of approximately $52 million[13] - Total current assets increased to $1,224.153 million in Q4 2024 from $1,187.385 million in Q4 2023, a growth of approximately 3.1%[52] - Cash and cash equivalents decreased to $308.671 million in Q4 2024 from $315.457 million in Q4 2023, a decline of about 2.5%[52] - Inventories rose to $474.948 million in Q4 2024, up from $389.774 million in Q4 2023, an increase of approximately 21.8%[52] - Total liabilities decreased to $517.334 million in Q4 2024 from $557.982 million in Q4 2023, a reduction of about 7.3%[52] - Stockholders' equity increased to $1,795.301 million in Q4 2024 from $1,740.741 million in Q4 2023, reflecting a growth of approximately 3.1%[52] Expenses and Charges - Research and development expenses for the three months ended December 31, 2024, were $33.207 million, slightly up from $32.957 million in the same period of 2023, showing an increase of approximately 0.8%[24] - Total operating expenses for the twelve months ended December 31, 2024, were $385.412 million, down from $407.611 million in 2023, reflecting a decrease of about 5.4%[24] - The company recorded a restructuring charge of $8.591 million for the twelve months ended December 31, 2024, compared to $1.583 million in 2023, indicating a significant increase in restructuring costs[24] Future Outlook - The company expects Q1 2025 revenue to be approximately $323 million, representing a 4.8% sequential decrease but a 7% year-over-year growth[15] - GAAP gross margin for Q1 2025 is expected to be 32.5%, with non-GAAP operating expenses projected at approximately 30.0% of revenue[15] - The company maintains a strong position in Asia and aims to expand growth in automotive and industrial markets, as well as capitalize on AI-related opportunities[5] Other Financial Metrics - Interest income for the twelve months ended December 31, 2024, was $18.303 million, up from $13.338 million in 2023, representing an increase of approximately 37.4%[24] - The company reported a foreign currency loss of $6.308 million for the twelve months ended December 31, 2024, compared to a loss of $5.264 million in 2023, indicating a worsening in foreign currency impacts[24] - Goodwill increased to $181.555 million in Q4 2024 from $146.558 million in Q4 2023, a rise of approximately 23.8%[52]

Fourth Quarter 2024 Financial Results Diodes Incorporated (DIOD) Plano, TX, USA February 11, 2025 Safe Harbor Statement Page 1 Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such statements include statements containing forward-looking words such as ...

Financial Data and Key Metrics Changes - Revenue for Q4 2024 was $339.3 million, a decrease from $350.1 million in Q3 2024 and an increase from $322.7 million in Q4 2023, marking a 5% year-over-year growth [13][9] - Full year 2024 revenue was $1.3 billion, down from $1.7 billion in 2023 [13] - Gross profit for Q4 2024 was $110.9 million, representing 32.7% of revenue, compared to 33.7% in Q3 2024 and 34.9% in Q4 2023 [13] - GAAP net income for Q4 2024 was $8.2 million or $0.18 per diluted share, down from $13.7 million or $0.30 per diluted share in Q3 2024 and $25.3 million or $0.55 per diluted share in Q4 2023 [16] - Full year GAAP net income was $44 million or $0.95 per diluted share, compared to $227.2 million or $4.91 per diluted share in 2023 [16] Business Line Data and Key Metrics Changes - Automotive and industrial revenue combined accounted for 42% of total product revenue, consistent with the previous quarter [28] - The company introduced 755 new part numbers in 2024, with 330 specifically for the automotive market, increasing addressable content per car from approximately $160 to $213 [29] Market Data and Key Metrics Changes - In Q4 2024, Asia represented 80% of revenue, Europe 12%, and North America 8% [28] - The industrial market accounted for 23% of product revenue, automotive 19%, compute 25%, consumer 18%, and communication 15% [28] Company Strategy and Development Direction - The company aims to expand growth in target markets, particularly automotive and industrial, while capitalizing on new opportunities in AI-related applications [10] - Focus remains on product development and content expansion to improve portfolio quality and mix [11] Management's Comments on Operating Environment and Future Outlook - Management noted that while global demand remains challenging, particularly in Europe and North America, they expect 2025 to be a stronger year than 2024 [10] - The company is prioritizing investments in automotive and industrial markets to enhance growth and margin expansion as market recovery broadens [12] Other Important Information - Cash flow provided by operations was $81.8 million for Q4 2024 and $119.4 million for the full year [20] - The company acquired Fort Media to enhance its product portfolio in advanced voice processing technologies, primarily targeting automotive and compute markets [21] Q&A Session Summary Question: Can you discuss the seasonality and demand trends in China? - Management indicated that the Chinese New Year impact was within expectations, with some customers experiencing extended shutdowns, but overall demand trends were stable [48] Question: What is driving the sequential improvement in gross margin? - Management attributed the improvement to product mix enhancement and efforts to minimize underloading costs by qualifying more products in internal facilities [52][53] Question: How do you expect revenue to perform in each end market in Q1? - Management expects challenges in automotive and industrial markets due to ongoing inventory rebalancing, with a slight decline anticipated in the compute market [60] Question: What are the pricing trends observed? - Pricing remains stable, with a slight increase in competition from commodity areas, but overall pricing environment has not changed significantly [75] Question: What is driving growth in the AI server market? - Growth is attributed to an expanded product portfolio and increased demand for additional PCI Express ports in AI server applications [79]

Diodes (DIOD) came out with quarterly earnings of $0.27 per share, missing the Zacks Consensus Estimate of $0.31 per share. This compares to earnings of $0.51 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -12.90%. A quarter ago, it was expected that this semiconductor components maker would post earnings of $0.39 per share when it actually produced earnings of $0.43, delivering a surprise of 10.26%.Over the last four quarter ...

Dublin, Nov. 14, 2024 (GLOBE NEWSWIRE) -- The "Silicon Carbide (SiC) Diodes Market 2024" report has been added to ResearchAndMarkets.com's offering.This Silicon Carbide (SiC) Diodes market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. The silicon carbide (SiC) diodes market size has grown rapidly in rece ...

Exhibit 99.1 Diodes Incorporated Reports Third Quarter Fiscal 2024 Financial Results Exceeded 3Q Revenue Expectations, Growing Over 9% Sequentially Plano, Texas – November 7, 2024 -- Diodes Incorporated (Diodes) (Nasdaq: DIOD) today reported its financial results for the third quarter ended September 30, 2024. Third Quarter Highlights • Revenue was $350.1 million, compared to $319.8 million in the second quarter 2024 and $404.6 million in the third quarter 2023; • Global Point of Sales (POS) increased over ...

Financial Performance - Q3 2024 - Revenue for Q3 2024 reached $350.1 million, a 9.5% sequential increase[12] - GAAP gross profit was $118 million, representing a 9.9% sequential increase[12] - GAAP gross margin was 33.7%, a 10 basis points sequential increase[12] - Non-GAAP EPS was $0.43, a 30% sequential increase[12] - Non-GAAP net income was $20.1 million, a 30.5% sequential increase[12] Financial Position - The company had $325 million in cash and cash equivalents[11, 12, 16] - Total debt was approximately $58 million[11, 12, 16] - Inventory was $482 million[16] Revenue Breakdown - Q3 2024 - Automotive revenue grew 18% sequentially and accounted for 19% of product revenue[11, 13] - Asia Pacific accounted for 78% of revenue[13] - Distribution channel accounted for 64% of revenue[13] Q4 2024 Outlook - Revenue is expected to be approximately $337 million, plus or minus 3%[1, 17] - GAAP gross margin is expected to be 33%, plus or minus 1%[1, 17] - Non-GAAP operating expenses are expected to be approximately 28% of revenue, plus or minus 1%[1, 17]

Financial Data and Key Metrics Changes - Revenue for Q3 2024 was $350.1 million, a 9.5% increase sequentially from $319.8 million in Q2 2024, but a decrease from $404.6 million in Q3 2023 [9] - Gross profit for Q3 was $118 million, representing 33.7% of revenue, compared to 33.6% in the previous quarter and 38.5% in the same quarter last year [9] - GAAP net income for Q3 was $13.7 million or $0.30 per diluted share, up from $8 million or $0.17 per diluted share in Q2 2024, but down from $48.7 million or $1.05 per diluted share in Q3 2023 [11] - Non-GAAP adjusted net income was $20.1 million or $0.43 per diluted share, compared to $15.4 million or $0.33 per diluted share in the prior quarter and $52.5 million or $1.13 per diluted share in Q3 2023 [12] - EBITDA for Q3 was $46.9 million or 13.4% of revenue, compared to 12.8% in the prior quarter and 22.4% in Q3 2023 [12] Business Line Data and Key Metrics Changes - Automotive market revenue increased 18% sequentially, now representing 19% of product revenue, reflecting ongoing content expansion and design win initiatives [6][17] - Industrial market revenue was flat compared to the previous quarter, representing 23% of total product revenue [20] - Computing market showed strong momentum, particularly in AI server designs, with healthy channel inventory [21] - Consumer market demand was generally stronger than last year, despite not meeting expectations [23] Market Data and Key Metrics Changes - Asia accounted for 78% of revenue in Q3, with Europe at 15% and North America at 7% [17] - The automotive and industrial markets are undergoing inventory adjustments, which are expected to continue into early next year [20] - The overall demand recovery remains slow, but there are signs of improvement in certain segments, particularly in China [26][28] Company Strategy and Development Direction - The company is moderating capital expenditures to below target levels to preserve near-term earnings and cash flow [8] - Focus on expanding product portfolio in automotive and industrial markets, with ongoing design wins and content expansion [19][20] - The company is well-positioned to adapt to changing market conditions and government policies, particularly in relation to China [31][32] Management's Comments on Operating Environment and Future Outlook - Management expects Q4 revenue to be better than typical seasonality, with guidance of approximately $337 million [16] - Gross margin expectations reflect factory underloading and strategic investments in capacity [8][29] - There is confidence that the overall market will improve in 2025, despite current challenges [30][39] Other Important Information - Cash flow from operations was $54.4 million for Q3, with free cash flow of $39.4 million [13] - Total inventory days decreased to approximately 187, with total inventory dollars increasing to $482 million [14][15] Q&A Session Summary Question: Demand improvement in Asia - Management noted good demand across all regions in Asia, particularly in the automotive market, with inventory adjustments ongoing [26] Question: Gross margin pressure - Management explained that gross margin pressure is due to a mix of factors, including market softness and strategic investments [29] Question: China exposure and government policy - Management expressed confidence in adapting to government policies and highlighted the potential for growth in China [31][32] Question: Revenue split by distribution channel - The revenue split was 64% distribution and 36% direct in Q3, showing a slight shift from previous quarters [35] Question: Seasonality expectations - Management indicated that Q4 is typically a down quarter, but current guidance is better than usual seasonality [39] Question: Automotive pricing negotiations - Management stated that pricing negotiations vary by customer, with a stable outlook despite some expected price decreases [42]

Diodes (DIOD) came out with quarterly earnings of $0.43 per share, beating the Zacks Consensus Estimate of $0.39 per share. This compares to earnings of $1.13 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 10.26%. A quarter ago, it was expected that this semiconductor components maker would post earnings of $0.27 per share when it actually produced earnings of $0.33, delivering a surprise of 22.22%.Over the last four quarters ...