Diodes(DIOD)2025-05-12 21:00Revenue Performance - Revenue for Q1 2025 was $332.1 million, a 10% increase from $302.0 million in Q1 2024[4] - Net sales for Q1 2025 increased to $332.1 million, up 10% from $302.0 million in Q1 2024[27] - The company expects Q2 2025 revenue to increase to approximately $355 million, representing an 11% year-over-year growth[17] Profitability Metrics - GAAP net loss was $4.4 million, or a loss of $0.10 per diluted share, compared to a net income of $14.0 million, or $0.30 per diluted share in Q1 2024[9] - Non-GAAP adjusted net income was $8.8 million, or $0.19 per diluted share, down from $13.0 million, or $0.28 per diluted share in Q1 2024[10] - GAAP gross profit margin was 31.5%, compared to 33.0% in Q1 2024[4] - EBITDA for Q1 2025 was $26.2 million, or 7.9% of revenue, compared to $48.3 million, or 16.0% of revenue in Q1 2024[13] - Free cash flow (FCF) for Q1 2025 was $40.8 million, indicating strong cash generation after capital expenditures[42] - EBITDA for Q1 2025 was $26.2 million, down from $48.3 million in Q1 2024, highlighting a decrease in operational profitability[45] Operating Expenses - Research and development expenses increased to $38.6 million in Q1 2025, up from $34.0 million in Q1 2024, reflecting ongoing investment in new technologies[27] - Total operating expenses for Q1 2025 were $103.4 million, compared to $86.6 million in Q1 2024, indicating a rise in operational costs[27] - Non-GAAP operating expenses for Q2 2025 are expected to be approximately 28.0% of revenue, plus or minus 1%[18] Cash Flow and Liquidity - Cash flow from operations for Q1 2025 was $56.7 million, with free cash flow of $40.8 million[14] - As of March 31, 2025, the company had approximately $349 million in cash and cash equivalents[15] - Cash and cash equivalents increased from $308,671 million to $335,754 million, reflecting a growth of about 8.5%[47] Balance Sheet Highlights - Total assets decreased from $2,386,281 million on December 31, 2024, to $2,356,341 million on March 31, 2025, a decline of approximately 1.25%[47] - Current assets remained relatively stable, totaling $1,224,890 million as of March 31, 2025, compared to $1,224,153 million at the end of 2024[47] - Accounts receivable decreased from $325,517 million to $302,241 million, a reduction of approximately 7.1%[47] - Total liabilities decreased from $517,334 million to $484,507 million, a decline of about 6.34%[47] - Total stockholders' equity increased from $1,868,947 million to $1,871,834 million, showing a slight growth of approximately 0.15%[47] - Retained earnings slightly decreased from $1,719,298 million to $1,714,861 million, a decline of about 0.26%[47] Shareholder Information - The number of common shares issued and outstanding increased from 46,332,891 to 46,395,345[47] - Treasury stock remained unchanged at a cost of $338,100 million[47] Other Comprehensive Income - The company recorded an impairment of equity investment of $5.8 million in Q1 2025, which negatively impacted net income[27] - The company reported a decrease in accumulated other comprehensive loss from $146,724 million to $141,902 million, indicating an improvement[47]