Revenue Performance - Revenue for Q4 2025 was $18.3 million, up 2% year-over-year, with SIP revenue increasing by 483% to $5.1 million[10] - Total revenue for the year ended December 31, 2025, was $63,064,000, an increase from $59,680,000 in 2024, representing a growth of approximately 4.3%[29] - Software license revenue for the three months ended December 31, 2025, was $11,902,000, compared to $13,870,000 in the same period of 2024, indicating a decline of about 14.2%[29] - Total revenue for 2024 is projected to be 100% across all quarters, with significant contributions from the Americas (38%) and APAC (53%) regions[33] - The TCAD product line accounted for 68% of total revenue in 2024, while EDA contributed 24% and SIP contributed 8%[33] - Software license revenue represented 74% of total revenue in 2024, with maintenance and service revenue making up the remaining 26%[33] - The United States contributed 37% to total revenue in 2024, while China accounted for 18%[33] Operating Loss and Expenses - GAAP operating loss for Q4 2025 was $6.8 million, compared to an operating income of $2.4 million in Q4 2024[10] - Non-GAAP operating loss for Q4 2025 was $1.1 million, an improvement from a $2.9 million operating income in Q4 2024[10] - A company-wide cost reduction program is expected to reduce annualized gross non-GAAP operating expenses by $20 million, with $14 million already executed by the end of 2025[5] - Research and development expenses for the year ended December 31, 2025, were $29,858,000, significantly higher than $20,740,000 in 2024, marking an increase of approximately 43.8%[29] Net Loss - GAAP net loss for the full year 2025 was $41.2 million, compared to a net loss of $39.4 million in FY 2024[10] - The net loss for the year ended December 31, 2025, was $41,206,000, compared to a net loss of $39,404,000 in 2024, showing an increase in losses of about 4.6%[31] - Non-GAAP net loss for the twelve months ended December 31, 2025, was $11,106,000, while in 2024 it was a gain of $5,525,000[35] Gross Profit and Margins - Non-GAAP gross margin for Q4 2025 was 86%, down 237 basis points year-over-year[10] - Gross profit for the year ended December 31, 2025, was $49,370,000, up from $47,638,000 in 2024, reflecting an increase of approximately 3.6%[29] - GAAP gross profit for the twelve months ended December 31, 2025, was $49,370,000, an increase from $47,638,000 in 2024[35] - Non-GAAP gross profit for the twelve months ended December 31, 2025, was $50,841,000, compared to $50,692,000 in 2024[35] Customer Acquisition and Bookings - TCAD bookings rose 70% sequentially to $9.2 million, driven by the acquisition of a second FTCO customer in Asia[5] - SIP revenue for the full year 2025 reached $9.7 million, a 98% increase from 2024, with bookings exceeding $10.4 million[5] - The company acquired 37 new customers across key markets, accounting for 19% of total bookings for the year[5] Assets and Liabilities - Total current assets decreased from $107,280,000 in 2024 to $46,076,000 in 2025, a decline of about 57.0%[27] - Total liabilities increased from $42,262,000 in 2024 to $47,653,000 in 2025, representing an increase of approximately 12.5%[27] - Cash and cash equivalents decreased from $19,606,000 at the end of 2024 to $9,008,000 at the end of 2025, a decline of about 54.0%[27] Share Metrics - The weighted average shares used in computing net loss per share increased from 25,672,845 in 2024 to 29,741,263 in 2025, indicating a dilution effect on per share metrics[29] - Basic GAAP net loss per share for the twelve months ended December 31, 2025, was $(1.39), compared to $(1.53) in 2024[35] - Basic non-GAAP net loss per share for the twelve months ended December 31, 2025, was $(0.37), while in 2024 it was $0.22[35]
Silvaco Group, Inc.(SVCO) - 2025 Q4 - Annual Results