AOS(US:AOSL)2025-05-07 20:02Revenue Performance - Revenue for the fiscal third quarter of 2025 was $164.6 million, a decrease of 4.9% from the prior quarter and an increase of 9.7% year-over-year[10]. - The company expects revenue for the fiscal fourth quarter of 2025 to be approximately $170 million, plus or minus $10 million[11]. - Revenue for the three months ended March 31, 2025, was $164.635 million, a decrease of 4.8% compared to $173.156 million for the previous quarter[17]. Gross Margin - GAAP gross margin was 21.4%, down from 23.1% in the prior quarter and down from 23.7% in the same quarter last year[10]. - Non-GAAP gross margin was 22.5%, down from 24.2% in the prior quarter and down from 25.2% in the same quarter last year[10]. - Gross profit for the three months ended March 31, 2025, was $35.177 million, resulting in a gross margin of 21.4%, down from 23.1% in the previous quarter[17]. - GAAP gross profit for the three months ended March 31, 2025, was $35,177 million, a decrease from $40,011 million in the previous quarter[24]. - Non-GAAP gross profit for the same period was $37,036 million, down from $41,945 million quarter-over-quarter[24]. - Estimated non-GAAP gross margin for Q4 ending June 30, 2025, is projected at 24.0%, up from a GAAP gross margin of 22.9%[27]. Operating Loss - GAAP operating loss was $10.7 million, compared to a loss of $5.9 million in the prior quarter and a loss of $10.5 million in the same quarter last year[10]. - Non-GAAP operating loss was $2.7 million, compared to an operating income of $3.0 million in the prior quarter and a loss of $1.1 million in the same quarter last year[10]. - Operating loss for the three months ended March 31, 2025, was $(10.658) million, compared to $(5.908) million in the previous quarter[17]. - GAAP operating loss for the three months ended March 31, 2025, was $(10,658) million, compared to $(5,908) million in the previous quarter[24]. - Non-GAAP operating income (loss) for the three months ended March 31, 2025, was $(2,656) million, a decline from $2,967 million in the previous quarter[24]. Net Loss - Net loss for the three months ended March 31, 2025, was $(10.807) million, compared to $(6.614) million in the previous quarter, with a net loss per share of $(0.37)[17]. - GAAP net loss for the three months ended March 31, 2025, was $(10,807) million, compared to $(6,614) million in the previous quarter[24]. - Non-GAAP net income (loss) for the three months ended March 31, 2025, was $(2,902) million, down from $2,739 million in the previous quarter[24]. - GAAP diluted net loss per share for the three months ended March 31, 2025, was $(0.37), compared to $(0.21) in the previous quarter[25]. - Non-GAAP diluted net income (loss) per share for the same period was $(0.10), a decrease from $0.09 in the previous quarter[25]. Cash Flow and Liquidity - Consolidated cash flows provided by operating activities were $7.4 million, down from $14.1 million in the prior quarter[10]. - The company closed the quarter with $169.4 million in cash and cash equivalents[10]. - Cash and cash equivalents at the end of the period were $169.359 million, down from $175.127 million at the end of the previous quarter[19]. - Net cash provided by operating activities for the nine months ended March 31, 2025, was $32.494 million, an increase from $18.591 million in the same period last year[21]. - The company reported a net decrease in cash, cash equivalents, and restricted cash of $(5.974) million for the nine months ended March 31, 2025[21]. Assets and Liabilities - Total assets as of March 31, 2025, were $1.116 billion, a decrease from $1.145 billion as of June 30, 2024[19]. - Total liabilities as of March 31, 2025, were $230.077 million, down from $253.406 million as of June 30, 2024[19]. Research and Development Expenses - Research and development expenses for the three months ended March 31, 2025, were $23.398 million, slightly down from $23.968 million in the previous quarter[17]. - Non-GAAP operating expenses for Q4 are expected to be $40.2 million, after accounting for estimated stock-based compensation and legal costs related to government investigations[27].