Financial Performance - Achieved record revenue of $18.7 million, up 70% year-over-year, with gross bookings of $22.8 million, up 131% year-over-year[7] - Total revenue for Q3 2025 reached $18,672,000, a 70% increase from $10,972,000 in Q3 2024[22] - Gross profit for Q3 2025 was $14,539,000, up from $8,186,000 in Q3 2024, indicating a 77% increase[22] - Software license revenue for the nine months ended September 30, 2025, was $30,983,000, compared to $30,121,000 for the same period in 2024, reflecting a 3% increase[22] - Operating loss for the nine months ended September 30, 2025, was $(39,117,000), an improvement from $(42,703,000) in the same period of 2024[22] - Net loss for the nine months ended September 30, 2025, was $(33,981,000), compared to $(43,561,000) for the same period in 2024, showing a 22% reduction in losses[24] Cost Management - Implemented a cost-reduction program expected to lower annualized non-GAAP operating expenses by at least $15 million[2][3] - Non-GAAP operating loss was $2.3 million, an improvement from $2.6 million in Q3 2024[7] - Non-GAAP Operating expenses for Q3 2025 totaled $17,554 million, up from $11,313 million in Q3 2024, indicating a 55.1% increase[28] Research and Development - Research and development expenses for the nine months ended September 30, 2025, were $19,446,000, up from $15,457,000 in the same period of 2024, reflecting a 26% increase[22] - GAAP Research and development expenses for Q3 2025 were $8,739 million, an increase from $4,134 million in Q3 2024, marking a 111.5% rise[28] Acquisitions and Product Development - Closed acquisition of Mixel Group, Inc. early in Q3, enhancing product offerings and market position[3] - Jivaro parasitics reduction tool and Victory TCAD™ 3D Simulation Solution are gaining traction among leading semiconductor companies[3] Leadership and Guidance - Guidance for Q4 2025 includes expected revenue in the range of $14 million to $18 million and bookings between $15 million and $19 million[11] - Leadership changes include the appointment of CEO Walden Rhines and CFO Chris Zegarelli, focusing on core growth drivers[3] Financial Position - As of Q3 end, cash and cash equivalents totaled $27.8 million, providing a solid financial foundation for future growth[7] - Cash and cash equivalents at the end of Q3 2025 totaled $11,945,000, down from $19,606,000 at the end of Q4 2024[24] - Total current assets decreased to $53,001,000 as of September 30, 2025, from $107,280,000 as of December 31, 2024[24] - Total liabilities increased to $51,493,000 as of September 30, 2025, compared to $42,262,000 as of December 31, 2024[24] Loss Metrics - GAAP operating loss was $9.3 million, compared to a loss of $7.3 million in Q3 2024, while GAAP net loss improved to $5.3 million from $6.6 million[7] - GAAP Net loss for Q3 2025 was $5,299 million, compared to a net loss of $6,551 million in Q3 2024, showing a 19.1% improvement[28] - Non-GAAP Net loss for Q3 2025 was $2,062 million, slightly worse than a loss of $1,829 million in Q3 2024[28] - GAAP Cost of revenue for Q3 2025 was $4,133 million, up from $2,786 million in Q3 2024, representing a 48.5% increase[28]
Silvaco Group, Inc.(SVCO) - 2025 Q3 - Quarterly Results