Advanced Energy(AEIS) - 2025 Q1 - Quarterly Results

Financial Performance - Revenue for Q1 2025 was $404.6 million, a 23.5% increase year-over-year from $327.5 million in Q1 2024[4] - GAAP net income from continuing operations was $24.9 million, or $0.65 per diluted share, compared to $6.0 million, or $0.16 per diluted share in Q1 2024[5] - Non-GAAP net income was $46.9 million, or $1.23 per diluted share, up from $22.0 million, or $0.58 per diluted share in Q1 2024[6] - Net income for Q1 2025 increased to $24.7 million, compared to $5.4 million in Q1 2024, representing a significant growth of 357.4%[24] - Total net revenue for Q1 2025 was $404.6 million, up 23.5% from $327.5 million in Q1 2024[25] - Semiconductor Equipment revenue rose to $222.2 million in Q1 2025, a 23.3% increase from $179.9 million in Q1 2024[25] Cash Flow and Dividends - Cash flow from continuing operations was $29.2 million, with $3.8 million paid in quarterly dividends[7] - The company repurchased $0.9 million of common stock at an average price of $94.26 per share during the quarter[7] - Cash and cash equivalents at the end of Q1 2025 were $723.0 million, a slight increase from $722.1 million at the beginning of the period[24] Guidance and Expectations - For Q2 2025, the company expects revenue in the range of $420 million, plus or minus $20 million[10] - GAAP EPS guidance for Q2 2025 is $0.74, plus or minus $0.25, while Non-GAAP EPS guidance is $1.30, plus or minus $0.25[10] - The company expects Q2 2025 revenue guidance between $400 million and $440 million[29] Margins and Profitability - Gross margin for Q1 2025 was 37.2%, consistent with Q4 2024[22] - Non-GAAP gross profit for Q1 2025 was $153.4 million, compared to $115.0 million in Q1 2024, reflecting a 33.4% increase[26] - GAAP operating income for Q1 2025 was $30.6 million, significantly up from $0.9 million in Q1 2024[26] - The company reported a GAAP gross margin of 37.2% for Q1 2025, compared to 34.5% in Q1 2024[26] - Non-GAAP operating income for Q1 2025 was $54.8 million, compared to $21.4 million in Q1 2024, indicating a 156.5% increase[26] Assets - Total assets increased to $2,302.2 million as of March 31, 2025, compared to $2,261.9 million at the end of 2024[23]