Financial Performance - Revenue for Q3 FY 2024 increased to $1.3 million, up from $886 thousand in Q2 FY 2024, representing a 46.5% increase[1] - GAAP net loss attributable to SemiLEDs stockholders decreased to $319 thousand, or $(0.06) per diluted share, compared to a net loss of $559 thousand, or $(0.11) per diluted share in Q2 FY 2024[1][2] - GAAP gross margin for Q3 FY 2024 improved to 41%, compared to 13% in Q2 FY 2024[2] - Operating margin for Q3 FY 2024 was negative 36%, an improvement from negative 94% in Q2 FY 2024[2] - The company expects revenue for Q4 FY 2024 to be approximately $1.0 million, with a variance of +/- 10%[2] Expenses and Cash Flow - Cash and cash equivalents were $1.7 million as of May 31, 2024, slightly up from $1.6 million at the end of Q2 FY 2024[2] - Research and development expenses for Q3 FY 2024 were $320 thousand, compared to $251 thousand in Q2 FY 2024[10] - Total operating expenses for Q3 FY 2024 were $1.016 million, up from $944 thousand in Q2 FY 2024[10] Strategic Initiatives - SemiLEDs has engaged Roth Capital Partners, LLC as a financial advisor to explore potential strategic alternatives[2] Assets - Total assets decreased to $11.511 million as of May 31, 2024, down from $12.019 million at the end of Q2 FY 2024[8]
SemiLEDs(LEDS) - 2024 Q3 - Quarterly Results