SemiLEDs(LEDS) - 2025 Q3 - Quarterly Results

Financial Highlights For the third quarter of fiscal year 2025, SemiLEDs reported a significant revenue increase to $17.7 million from $10.9 million in the previous quarter, though profitability declined with GAAP net income decreasing to $223 thousand from $388 thousand, and gross margin falling to 5% from 9% Financial Performance Summary | Financial Metric | Q3 FY2025 | Q2 FY2025 | Change | | :--- | :--- | :--- | :--- | | Revenue (Millions USD) | $17.7 | $10.9 | Increased | | GAAP Net Income (Thousands USD) | $223 | $388 | Decreased | | GAAP Diluted EPS (USD) | $0.03 | $0.05 | Decreased | | Gross Margin (%) | 5 | 9 | Decreased | | Operating Margin (%) | -0.4 | 1 | Decreased | - The company's cash and cash equivalents remained stable at $2.4 million at the end of both the third and second quarters of fiscal 2025[4] Financial Statements This section presents SemiLEDs Corporation's unaudited condensed consolidated financial statements, including balance sheets reflecting stable assets and reduced liabilities, and statements of operations detailing revenue growth and margin compression for the three months ended May 31, 2025 Unaudited Condensed Consolidated Balance Sheets As of May 31, 2025, SemiLEDs maintained stable total assets at $23.18 million, with a slight decrease in total liabilities to $19.19 million and an increase in stockholders' equity to $3.99 million, alongside a notable shift in current liability composition Condensed Consolidated Balance Sheet Highlights | Balance Sheet Items | May 31, 2025 (Thousands USD) | February 28, 2025 (Thousands USD) | | :--- | :--- | :--- | | Total current assets | $17,721 | $18,244 | | Total Assets | $23,180 | $23,186 | | Total current liabilities | $17,567 | $17,974 | | Total Liabilities | $19,186 | $19,591 | | Total SemiLEDs stockholders' equity | $3,994 | $3,595 | - A notable change in current liabilities was observed, with Accounts Payable increasing from $445 thousand to $10.8 million, while Accrued expenses and other current liabilities decreased from $15.1 million to $4.2 million[9] Unaudited Condensed Consolidated Statements of Operations For the three months ended May 31, 2025, revenues increased to $17.65 million, yet higher costs resulted in a lower gross profit of $939 thousand and an operating loss of $62 thousand, contrasting with the prior quarter's operating income Condensed Consolidated Statements of Operations Highlights | Statement of Operations | Three Months Ended May 31, 2025 (Thousands USD) | Three Months Ended February 28, 2025 (Thousands USD) | | :--- | :--- | :--- | | Revenues, net | $17,651 | $10,872 | | Gross profit | $939 | $1,003 | | (Loss) income from operations | $(62) | $110 | | Net income | $223 | $388 | | Basic and diluted EPS | $0.03 | $0.05 |