AOS(US:AOSL)2025-11-05 21:01Revenue Performance - Revenue for the fiscal first quarter of 2026 was $182.5 million, an increase of 3.4% from the prior quarter and flat compared to the same quarter last year[10]. - The company expects revenue for the fiscal second quarter to be approximately $160 million, plus or minus $10 million[11]. Gross Margin - GAAP gross margin was 23.5%, up from 23.4% in the prior quarter but down from 24.5% in the same quarter last year[10]. - GAAP gross margin for the next quarter is anticipated to be 22.3%, plus or minus 1%[11]. - Estimated non-GAAP gross margin for fiscal Q2 ending December 31, 2025, is projected to be 23.0%, compared to a GAAP gross margin of 22.3%[25]. Operating Income and Expenses - Non-GAAP operating income was $2.5 million, compared to $2.3 million in the prior quarter and $7.8 million in the same quarter last year[10]. - Non-GAAP operating expenses are expected to be $40.5 million for fiscal Q2 ending December 31, 2025, down from GAAP operating expenses of $47.1 million[25]. - The company reported a non-GAAP operating income of $2,548 thousand for the three months ended September 30, 2025, compared to $7,809 thousand in the same period of 2024, reflecting a decrease of 67%[22]. Cash Flow and Assets - Consolidated cash flows provided by operating activities was $10.2 million, compared to cash flows used in operating activities of $2.8 million in the prior quarter[10]. - Total current assets increased to $531,284 thousand as of September 30, 2025, up from $396,162 thousand as of June 30, 2025, representing a 34% increase[19]. - Cash, cash equivalents, and restricted cash at the end of the period increased to $223,930 thousand, up from $176,222 thousand in the same period of 2024, marking a 27% increase[21]. Liabilities - Total liabilities decreased to $203,445 thousand as of September 30, 2025, down from $211,971 thousand as of June 30, 2025, a reduction of approximately 4%[19]. Net Income and Loss - GAAP net loss for the three months ended September 30, 2025, was $2,122 thousand, a significant improvement compared to a net loss of $77,059 thousand in the previous quarter[22]. - Non-GAAP net income for the three months ended September 30, 2025, was $4,176 thousand, compared to $6,421 thousand in the same period of 2024, indicating a decline of 35%[22]. Strategic Focus - The company is focusing on extending its leadership into higher-growth areas including graphics, AI, and data-center power[7]. Interest Income - Interest income is expected to exceed interest expense by $1.0 million in the upcoming quarter[11]. Power IC Revenue - Power IC revenue increased 37.3% year-over-year, now representing nearly 40% of total product revenue[7].