Financial Data and Key Metrics Changes - Consolidated Q1 revenue from continuing operations was $44.7 million, up 12.1% year over year and down 8.5% sequentially [9][22] - Consolidated Q1 gross profit margin from continuing operations was 20.9%, up 3.3 percentage points year over year but down 2.3 percentage points sequentially [10][23] - Q1 operating loss narrowed to $6.3 million compared to an operating loss of $9.4 million in Q1 2024 [26] - Q1 GAAP diluted loss per share was $0.14, improved from a loss of $0.37 in Q1 2024 [27] Business Line Data and Key Metrics Changes - Power Analog Solutions revenue was $39.9 million, up 9.1% year over year and down 8.3% quarter over quarter [15][22] - Power IC revenue was $4.9 million, an increase of 44.1% year over year but down 10% sequentially [20][22] - The industrial segment saw an 8.7% year-over-year decline, while the communication segment increased nearly 64% year over year [16][17] Market Data and Key Metrics Changes - The communication market accounted for 23% of Power Analog Solutions revenue and saw significant growth due to design wins in smartphones [17] - The automotive segment showed strong year-over-year growth, expanding beyond Korea and Japan [19] Company Strategy and Development Direction - The company plans to shut down its display business by the end of Q2 2025 to focus on power semiconductor operations [6][24] - The strategic pivot aims to achieve a $300 million annual revenue run rate with a 30% gross profit margin target within three years, referred to as the "three-three-three strategy" [8][37] - The company expects to attain quarterly adjusted EBITDA breakeven from continuing operations by the end of 2025 [31] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges from an unpredictable macroeconomic landscape but remains optimistic about achieving growth targets [7][36] - The company expects mid single-digit sequential growth in Q2 2025, driven by strong performance in industrial and computing markets [36] Other Important Information - The company has initiated a stock buyback program, repurchasing approximately 300,000 shares for $1.1 million in Q1 2025 [27] - The expected cash inflow from the liquidation of the display business is estimated to be between $15 million to $20 million over two years [32] Q&A Session Summary Question: Impact of tariffs on manufacturing and markets - Management indicated minimal direct shipment to the U.S. and believes tariff risks are manageable at the moment [42][43] Question: Drivers for gross margin improvement - The company plans to upgrade its Gumi facility to support new generation power products, which is expected to enhance gross margins over the next few years [44][45] Question: Focus on Power IC vs. Power Analog segments - Management aims for double-digit growth in both Power Analog and Power IC segments, indicating a balanced focus on both areas for growth [46]