和信超媒体(GIGM) - 2023 Q2 - Quarterly Report

Financial Performance - GigaMedia reported revenues of $1.03 million in Q2 2023, a decrease of 22.6% quarter-on-quarter and 24.8% year-over-year[4]. - Gross profit for the second quarter was $0.57 million, down 28.5% from the previous quarter and 26.9% from the same period last year[7]. - The net loss attributable to GigaMedia was $0.56 million, compared to a net loss of $0.31 million in Q1 2023[7]. - Operating loss for Q2 2023 was $0.92 million, compared to a loss of $0.70 million in Q1 2023[7]. - The company reported an EBITDA loss of $0.98 million for Q2 2023[6]. - Net income attributable to GigaMedia for the quarter was a loss of $561,588, compared to a loss of $312,700 in the previous quarter[19]. - EBITDA for the quarter was reported at a loss of $982,343, worsening from a loss of $703,870 in the previous quarter[19]. - Total operating revenues for the first half of 2023 were $2.35 million, down from $2.91 million in the same period last year[17]. Cash and Assets - Cash, cash equivalents, and restricted cash at the end of Q2 2023 totaled $37.8 million, a decrease of 0.9% from Q1 2023[8]. - Total current assets decreased to $47,022,222 from $47,482,257 in the previous quarter, a decline of 1.0%[18]. - Cash and cash equivalents decreased to $37,462,050 from $37,806,540 in the previous quarter, a drop of 0.9%[18]. - Accounts receivable increased to $187,385 from $154,890 in the previous quarter, an increase of 20.9%[18]. - Marketable securities - noncurrent decreased significantly to $2,371,000 from $10,322,000 year-over-year[18]. - Prepaid expenses decreased to $225,334 from $368,322 in the previous quarter, a decline of 38.8%[18]. - Total liabilities decreased slightly to $3,395,682 from $3,393,076 in the previous quarter, indicating stability[18]. - Total equity decreased to $47,754,712 from $48,310,127 in the previous quarter, reflecting a decline of 1.1%[18]. - Other current liabilities increased to $718,266 from $636,631 in the previous quarter, an increase of 12.8%[18]. Strategic Focus - The company plans to focus on boosting productivity and pursuing strategic expansion in the second half of 2023[10]. - The company is evaluating strategic investment targets to expand its business and enhance shareholder value[10]. - GigaMedia's net asset value was reported at $4.32 per share[4].