Financial Performance - Revenue for the first quarter of fiscal 2024 increased to $1.6 million, compared to $1.5 million in the fourth quarter of fiscal 2023, reflecting a growth of approximately 13.3% [2] - GAAP net loss attributable to SemiLEDs stockholders decreased to $598 thousand, or $(0.12) per diluted share, compared to a net loss of $881 thousand, or $(0.18) per diluted share, in the previous quarter [2][8] - GAAP gross margin for the first quarter of fiscal 2024 increased to 15%, up from 3% in the fourth quarter of fiscal 2023, indicating improved profitability [2] - Operating margin for the first quarter of fiscal 2024 was negative 50%, an improvement from negative 73% in the fourth quarter of fiscal 2023 [2] Balance Sheet Highlights - Cash and cash equivalents were $2.3 million at November 30, 2023, down from $2.6 million at the end of the previous quarter [2] - Total current assets decreased to $7.339 million from $7.594 million [7] - Total assets decreased to $13.160 million from $13.455 million [7] Future Outlook - Revenue for the second quarter ending February 29, 2024, is expected to be approximately $1.1 million, with a variance of +/- 10% [3] - The company will close its office and factory from February 3, 2024, until February 18, 2024, for the Chinese New Year [3] Company Overview - SemiLEDs develops, manufactures, and sells LED chips and components for various applications, including general lighting, ultraviolet curing, and architectural lighting [4]
SemiLEDs Reports First Quarter Fiscal Year 2024 Financial Results