AMSC Reports Third Quarter Fiscal Year 2024 Financial Results and Provides Business Outlook
AMSC reported strong financial results for Q3 FY2024, with revenue increasing 56% year-over-year to $61.4 million, compared to $39.4 million in Q3 FY2023. The growth was attributed to organic expansion and the NWL, Inc. acquisition.
The company achieved a net income of $2.5 million ($0.07 per share), marking its second consecutive profitable quarter, compared to a net loss of $1.6 million ($0.06 per share) in the same period last year. Non-GAAP net income reached $6.0 million ($0.16 per share).
Cash position strengthened to $80.0 million as of December 31, 2024. For Q4 FY2024, AMSC projects revenue between $59.0-63.0 million and expects a net loss not exceeding $1.0 million ($0.03 per share), with non-GAAP net income expected to exceed $2.5 million ($0.07 per share).
AMSC ha riportato risultati finanziari solidi per il terzo trimestre dell'anno fiscale 2024, con un aumento del fatturato del 56% anno su anno, arrivando a $61.4 milioni, rispetto ai $39.4 milioni del terzo trimestre dell'anno fiscale 2023. La crescita è stata attribuita all'espansione organica e all'acquisizione di NWL, Inc.
La società ha raggiunto un utile netto di $2.5 milioni ($0.07 per azione), segnando il suo secondo trimestre consecutivo in utile, rispetto a una perdita netta di $1.6 milioni ($0.06 per azione) nello stesso periodo dell'anno scorso. Il reddito netto non-GAAP ha raggiunto $6.0 milioni ($0.16 per azione).
La posizione di cassa si è rafforzata a $80.0 milioni al 31 dicembre 2024. Per il quarto trimestre dell'anno fiscale 2024, AMSC prevede un fatturato compreso tra $59.0-63.0 milioni e si aspetta una perdita netta che non superi $1.0 milione ($0.03 per azione), con un reddito netto non-GAAP previsto superior a $2.5 milioni ($0.07 per azione).
AMSC reportó sólidos resultados financieros para el tercer trimestre del año fiscal 2024, con ingresos que aumentaron un 56% en comparación con el año anterior, alcanzando $61.4 millones, en comparación con $39.4 millones en el tercer trimestre del año fiscal 2023. El crecimiento se atribuyó a la expansión orgánica y la adquisición de NWL, Inc.
La empresa logró un ingreso neto de $2.5 millones ($0.07 por acción), marcando su segundo trimestre consecutivo en ganancias, frente a una pérdida neta de $1.6 millones ($0.06 por acción) en el mismo período del año pasado. El ingreso neto no-GAAP alcanzó $6.0 millones ($0.16 por acción).
La posición de efectivo se fortaleció a $80.0 millones al 31 de diciembre de 2024. Para el cuarto trimestre del año fiscal 2024, AMSC proyecta ingresos entre $59.0-63.0 millones y espera una pérdida neta que no exceda $1.0 millón ($0.03 por acción), con un ingresos neto no-GAAP que se espera supere los $2.5 millones ($0.07 por acción).
AMSC는 2024 회계연도 3분기 동안 강력한 재무 실적을 발표했으며, 연간 기준으로 수익이 56% 증가하여 $61.4 백만에 달했습니다. 이는 2023 회계연도 3분기의 $39.4 백만과 비교됩니다. 이 성장은 유기적 확장과 NWL, Inc. 인수에 기인합니다.
회사는 $2.5 백만의 순이익 ($0.07 주당)을 기록하여 두 번째 연속으로 수익을 올렸으며, 지난해 같은 기간의 $1.6 백만 ($0.06 주당) 손실과 비교됩니다. 비-GAAP 순이익은 $6.0 백만 ($0.16 주당)에 도달했습니다.
2024년 12월 31일 기준으로 현금 보유량은 $80.0 백만으로 강화되었습니다. AMSC는 2024 회계연도 4분기에 $59.0-63.0 백만의 수익을 예상하며, $1.0 백만 ($0.03 주당)을 초과하지 않는 순손실을 예상하고, 비-GAAP 순이익은 $2.5 백만 ($0.07 주당)을 초과할 것으로 예상합니다.
AMSC a annoncé des résultats financiers solides pour le troisième trimestre de l'exercice 2024, avec des revenus en hausse de 56% par rapport à l'année précédente, atteignant $61.4 millions, comparativement à $39.4 millions au troisième trimestre de l'exercice 2023. Cette croissance a été attribuée à une expansion organique et à l'acquisition de NWL, Inc.
L'entreprise a réalisé un revenu net de $2.5 millions ($0.07 par action), marquant son deuxième trimestre consécutif bénéficiaire, contre une perte nette de $1.6 millions ($0.06 par action) au cours de la même période l'année dernière. Le revenu net non-GAAP s'est élevé à $6.0 millions ($0.16 par action).
La position de trésorerie s'est renforcée pour atteindre $80.0 millions au 31 décembre 2024. Pour le quatrième trimestre de l'exercice 2024, AMSC prévoit des revenus compris entre $59.0-63.0 millions et s'attend à une perte nette ne dépassant pas $1.0 million ($0.03 par action), avec un revenu net non-GAAP prévu à plus de $2.5 millions ($0.07 par action).
AMSC hat für das dritte Quartal des Geschäftsjahres 2024 starke finanzielle Ergebnisse gemeldet, mit einem Umsatzanstieg von 56% im Jahresvergleich auf $61.4 Millionen, verglichen mit $39.4 Millionen im dritten Quartal des Geschäftsjahres 2023. Das Wachstum wurde auf organische Expansion und die Übernahme von NWL, Inc. zurückgeführt.
Das Unternehmen erzielte ein Nettoeinkommen von $2.5 Millionen ($0.07 pro Aktie), was das zweite aufeinanderfolgende profitable Quartal markiert, im Vergleich zu einem Nettoverlust von $1.6 Millionen ($0.06 pro Aktie) im gleichen Zeitraum des letzten Jahres. Das nicht-GAAP Nettoeinkommen erreichte $6.0 Millionen ($0.16 pro Aktie).
Die Liquiditätsposition stärkte sich auf $80.0 Millionen zum 31. Dezember 2024. Für das vierte Quartal des Geschäftsjahres 2024 prognostiziert AMSC einen Umsatz von $59.0-63.0 Millionen und erwartet einen Nettoverlust von nicht mehr als $1.0 Millionen ($0.03 pro Aktie), wobei das nicht-GAAP Nettoeinkommen voraussichtlich über $2.5 Millionen ($0.07 pro Aktie) liegen wird.
- Revenue increased 56% YoY to $61.4 million
- Achieved net income of $2.5 million vs previous year's loss
- Non-GAAP net income grew to $6.0 million from $0.9 million YoY
- Cash position improved to $80.0 million from $74.8 million QoQ
- Strong bookings and backlog reported for the quarter
- Projected net loss for Q4 FY2024 up to $1.0 million
Insights
AMSC's Q3 FY2024 results demonstrate a remarkable financial transformation, marked by 56% year-over-year revenue growth to
Several key metrics indicate strengthening fundamentals:
- Robust operating cash flow of nearly
$6 million - Healthy cash position of
$80 million , up from$74.8 million in the previous quarter - Second consecutive quarter of positive net income, suggesting operational improvements are taking hold
While Q4 guidance projects a slight moderation with revenues between
The company's focus on megawatt-scale power resiliency solutions and naval systems positions it well in critical infrastructure markets. The successful integration of NWL acquisition, combined with organic growth, demonstrates effective execution of both M&A and internal growth strategies. The robust bookings and backlog mentioned suggest continued momentum beyond the current quarter.
| Third Quarter Financial Highlights: | |
| • Increased Revenue by • Net Income of over • Generated nearly |
Company to host conference call tomorrow, February 6, at 10:00 am ET
AYER, Mass., Feb. 05, 2025 (GLOBE NEWSWIRE) -- AMSC (Nasdaq: AMSC), a leading system provider of megawatt-scale power resiliency solutions that orchestrate the rhythm and harmony of power on the grid™ and protect and expand the capability and resiliency of our Navy’s fleet, today reported financial results for its third quarter of fiscal year 2024 ended December 31, 2024.
Revenues for the third quarter of fiscal 2024 were
AMSC’s net income for the third quarter of fiscal 2024 was
Cash, cash equivalents, and restricted cash on December 31, 2024, totaled
"AMSC delivered the best quarterly results in years. Fiscal third quarter revenue surpassed
Business Outlook
For the fourth quarter ending March 31, 2025, AMSC expects that its revenues will be in the range of
Conference Call Reminder
In conjunction with this announcement, AMSC management will participate in a conference call with investors beginning at 10:00 a.m. Eastern Time on Thursday, February 6, 2025, to discuss the Company’s financial results and business outlook. Those who wish to listen to the live or archived conference call webcast should visit the “Investors” section of the Company’s website at https://ir.amsc.com. The live call can be accessed by dialing 1-844-481-2802 or 1-412-317-0675 and asking to join the AMSC call. A replay of the call may be accessed 2 hours following the call by dialing 1-877-344-7529 and using conference passcode 9514460.
About AMSC (Nasdaq: AMSC)
AMSC generates the ideas, technologies and solutions that meet the world’s demand for smarter, cleaner … better energy™. Through its Gridtec™ Solutions, AMSC provides the engineering planning services and advanced grid systems that optimize network reliability, efficiency and performance. Through its Marinetec™ Solutions, AMSC provides ship protection systems and is developing propulsion and power management solutions designed to help fleets increase system efficiencies, enhance power quality and boost operational safety. Through its Windtec® Solutions, AMSC provides wind turbine electronic controls and systems, designs and engineering services that reduce the cost of wind energy. The Company’s solutions are enhancing the performance and reliability of power networks, increasing the operational safety of navy fleets, and powering gigawatts of renewable energy globally. Founded in 1987, AMSC is headquartered near Boston, Massachusetts with operations in Asia, Australia, Europe and North America. For more information, please visit www.amsc.com.
AMSC, American Superconductor, D-VAR, D-VAR VVO, Gridtec, Marinetec, Windtec, Neeltran, NEPSI, Smarter, Cleaner … Better Energy, and Orchestrate the Rhythm and Harmony of Power on the Grid are trademarks or registered trademarks of American Superconductor Corporation. All other brand names, product names, trademarks or service marks belong to their respective holders.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Any statements in this release regarding execution of our goals and strategies; backlog; expectations regarding the fourth quarter of fiscal 2024; our expected GAAP and non-GAAP financial results for the quarter ending March 31, 2025; and other statements containing the words "believes," "anticipates," "plans," "expects," "will" and similar expressions, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements represent management's current expectations and are inherently uncertain. There are a number of important factors that could materially impact the value of our common stock or cause actual results to differ materially from those indicated by such forward-looking statements. These important factors include, but are not limited to: We have a history of operating losses, which may continue in the future. Our operating results may fluctuate significantly from quarter to quarter and may fall below expectations in any particular fiscal quarter; We have a history of negative operating cash flows, and we may require additional financing in the future, which may not be available to us; Our technology and products could infringe intellectual property rights of others, which may require costly litigation and, if we are not successful, could cause us to pay substantial damages and disrupt our business; Changes in exchange rates could adversely affect our results of operations; We may be required to issue performance bonds or provide letters of credit, which restricts our ability to access any cash used as collateral for the bonds or letters of credit; If we fail to maintain proper and effective internal control over financial reporting, our ability to produce accurate and timely financial statements could be impaired and may lead investors and other users to lose confidence in our financial data; We may not realize all of the sales expected from our backlog of orders and contracts; Our contracts with the U.S. government are subject to audit, modification or termination by the U.S. government and include certain other provisions in favor of the government. The continued funding of such contracts remains subject to annual congressional appropriation, which, if not approved, could reduce our revenue and lower or eliminate our profit; Changes in U.S. government defense spending could negatively impact our financial position, results of operations, liquidity and overall business; Pandemics, epidemics or other public health crises may adversely impact our business, financial condition and results of operations; We rely upon third-party suppliers for the components and subassemblies of many of our Grid and Wind products, making us vulnerable to supply shortages and price fluctuations, which could harm our business; Uncertainty surrounding our prospects and financial condition may have an adverse effect on our customer and supplier relationship; Our success is dependent upon attracting and retaining qualified personnel and our inability to do so could significantly damage our business and prospects; A significant portion of our Wind segment revenues are derived from a single customer. If this customer’s business is negatively affected, it could adversely impact our business; Our success in addressing the wind energy market is dependent on the manufacturers that license our designs; Our business and operations would be adversely impacted in the event of a failure or security breach of our or any critical third parties' information technology infrastructure and networks; We may acquire additional complementary businesses or technologies, which may require us to incur substantial costs for which we may never realize the anticipated benefits; Failure to comply with evolving data privacy and data protection laws and regulations or to otherwise protect personal data, may adversely impact our business and financial results; Many of our revenue opportunities are dependent upon subcontractors and other business collaborators; If we fail to implement our business strategy successfully, our financial performance could be harmed; Problems with product quality or product performance may cause us to incur warranty expenses and may damage our market reputation and prevent us from achieving increased sales and market share; Many of our customers outside of the United States may be either directly or indirectly related to governmental entities, and we could be adversely affected by violations of the United States Foreign Corrupt Practices Act and similar worldwide anti-bribery laws outside the United States; We have had limited success marketing and selling our superconductor products and system-level solutions, and our failure to more broadly market and sell our products and solutions could lower our revenue and cash flow; We or third parties on whom we depend may be adversely affected by natural disasters, including events resulting from climate change, and our business continuity and disaster recovery plans may not adequately protect us or our value chain from such events; Adverse changes in domestic and global economic conditions could adversely affect our operating results; Our international operations are subject to risks that we do not face in the United States, which could have an adverse effect on our operating results; Our products face competition, which could limit our ability to acquire or retain customers; We have operations in, and depend on sales in, emerging markets, including India, and global conditions could negatively affect our operating results or limit our ability to expand our operations outside of these markets. Changes in India’s political, social, regulatory and economic environment may affect our financial performance; Our success depends upon the commercial adoption of the REG system, which is currently limited, and a widespread commercial market for our products may not develop; Industry consolidation could result in more powerful competitors and fewer customers; Increasing focus and scrutiny on environmental sustainability and social initiatives could increase our costs, and inaction could harm our reputation and adversely impact our financial results; Growth of the wind energy market depends largely on the availability and size of government subsidies, economic incentives and legislative programs designed to support the growth of wind energy: Lower prices for other energy sources may reduce the demand for wind energy development, which could have a material adverse effect on our ability to grow our Wind business; We may be unable to adequately prevent disclosure of trade secrets and other proprietary information; Our patents may not provide meaningful or long-term protection for our technology, which could result in us losing some or all of our market position; There are a number of technological challenges that must be successfully addressed before our superconductor products can gain widespread commercial acceptance, and our inability to address such technological challenges could adversely affect our ability to acquire customers for our products; Third parties have or may acquire patents that cover the materials, processes and technologies we use or may use in the future to manufacture our Amperium products, and our success depends on our ability to license such patents or other proprietary rights; Our common stock has experienced, and may continue to experience, market price and volume fluctuations, which may prevent our stockholders from selling our common stock at a profit and could lead to costly litigation against us that could divert our management’s attention; Unfavorable results of legal proceedings could have a material adverse effect on our business, operating results and financial condition; and the other important factors discussed under the caption "Risk Factors" in Part 1. Item 1A of our Form 10-K for the fiscal year ended March 31, 2024, and our other reports filed with the SEC. These important factors, among others, could cause actual results to differ materially from those indicated by forward-looking statements made herein and presented elsewhere by management from time to time. Any such forward-looking statements represent management's estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.
| UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) | ||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||
| December 31, | December 31, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Revenues | ||||||||||||||||
| Grid | $ | 52,306 | $ | 33,603 | $ | 131,578 | $ | 87,854 | ||||||||
| Wind | 9,097 | 5,750 | 24,585 | 15,757 | ||||||||||||
| Total revenues | 61,403 | 39,353 | 156,163 | 103,611 | ||||||||||||
| Cost of revenues | 45,077 | 29,369 | 112,000 | 78,759 | ||||||||||||
| Gross margin | 16,326 | 9,984 | 44,163 | 24,852 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Research and development | 3,000 | 2,199 | 7,932 | 5,693 | ||||||||||||
| Selling, general and administrative | 11,567 | 7,833 | 30,990 | 23,648 | ||||||||||||
| Amortization of acquisition-related intangibles | 444 | 538 | 1,289 | 1,614 | ||||||||||||
| Change in fair value of contingent consideration | — | 852 | 6,682 | 3,052 | ||||||||||||
| Restructuring | — | — | — | (14 | ) | |||||||||||
| Total operating expenses | 15,011 | 11,422 | 46,893 | 33,993 | ||||||||||||
| Operating income (loss) | 1,315 | (1,438 | ) | (2,730 | ) | (9,141 | ) | |||||||||
| Interest income, net | 802 | 150 | 2,901 | 518 | ||||||||||||
| Other income (expense), net | 272 | (298 | ) | (214 | ) | (618 | ) | |||||||||
| Income (loss) before income tax expense (benefit) | 2,389 | (1,586 | ) | (43 | ) | (9,241 | ) | |||||||||
| Income tax (benefit) expense | (76 | ) | 63 | (4,871 | ) | 291 | ||||||||||
| Net income (loss) | $ | 2,465 | $ | (1,649 | ) | $ | 4,828 | $ | (9,532 | ) | ||||||
| Net income (loss) per common share | ||||||||||||||||
| Basic | $ | 0.07 | $ | (0.06 | ) | $ | 0.13 | $ | (0.33 | ) | ||||||
| Diluted | $ | 0.06 | $ | (0.06 | ) | $ | 0.13 | $ | (0.33 | ) | ||||||
| Weighted average number of common shares outstanding | ||||||||||||||||
| Basic | 37,661 | 29,092 | 36,766 | 28,728 | ||||||||||||
| Diluted | 38,463 | 29,092 | 37,457 | 28,728 | ||||||||||||
| UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except per share data) | ||||||||
| December 31, 2024 | March 31, 2024 | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 75,203 | $ | 90,522 | ||||
| Accounts receivable, net | 44,135 | 26,325 | ||||||
| Inventory, net | 74,588 | 41,857 | ||||||
| Prepaid expenses and other current assets | 10,194 | 7,295 | ||||||
| Restricted cash | 1,314 | 468 | ||||||
| Total current assets | 205,434 | 166,467 | ||||||
| Property, plant and equipment, net | 38,390 | 10,861 | ||||||
| Intangibles, net | 6,622 | 6,369 | ||||||
| Right-of-use assets | 4,050 | 2,557 | ||||||
| Goodwill | 48,950 | 43,471 | ||||||
| Restricted cash | 3,523 | 1,290 | ||||||
| Deferred tax assets | 1,155 | 1,119 | ||||||
| Equity-method investments | 1,397 | — | ||||||
| Other assets | 757 | 637 | ||||||
| Total assets | $ | 310,278 | $ | 232,771 | ||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable and accrued expenses | $ | 29,425 | $ | 24,235 | ||||
| Lease liability, current portion | 675 | 716 | ||||||
| Debt, current portion | — | 25 | ||||||
| Contingent consideration | — | 3,100 | ||||||
| Deferred revenue, current portion | 74,325 | 50,732 | ||||||
| Total current liabilities | 104,425 | 78,808 | ||||||
| Deferred revenue, long term portion | 9,003 | 7,097 | ||||||
| Lease liability, long term portion | 2,725 | 1,968 | ||||||
| Deferred tax liabilities | 1,423 | 300 | ||||||
| Other liabilities | 26 | 27 | ||||||
| Total liabilities | 117,602 | 88,200 | ||||||
| Stockholders' equity: | ||||||||
| Common stock, | 399 | 373 | ||||||
| Additional paid-in capital | 1,256,210 | 1,212,913 | ||||||
| Treasury stock, at cost, 403,351 and 397,631 at December 31, 2024 and March 31, 2024, respectively | (3,765 | ) | (3,639 | ) | ||||
| Accumulated other comprehensive income | 1,662 | 1,582 | ||||||
| Accumulated deficit | (1,061,830 | ) | (1,066,658 | ) | ||||
| Total stockholders' equity | 192,676 | 144,571 | ||||||
| Total liabilities and stockholders' equity | $ | 310,278 | $ | 232,771 | ||||
| UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) | ||||||||
| Nine Months Ended December 31, | ||||||||
| 2024 | 2023 | |||||||
| Cash flows from operating activities: | ||||||||
| Net income (loss) | $ | 4,828 | $ | (9,532 | ) | |||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operations: | ||||||||
| Depreciation and amortization | 3,984 | 3,360 | ||||||
| Stock-based compensation expense | 4,933 | 3,608 | ||||||
| Provision for excess and obsolete inventory | 1,186 | 1,536 | ||||||
| Amortization of operating lease right-of-use assets | 753 | 457 | ||||||
| Deferred income taxes | (5,171 | ) | 3 | |||||
| Earnings from equity method investments | (152 | ) | — | |||||
| Change in fair value of contingent consideration | 6,682 | 3,052 | ||||||
| Other non-cash items | (177 | ) | 494 | |||||
| Changes in operating asset and liability accounts: | ||||||||
| Accounts receivable | (1,650 | ) | 5,945 | |||||
| Inventory | (10,836 | ) | (8,737 | ) | ||||
| Prepaid expenses and other assets | (1,658 | ) | 6,682 | |||||
| Operating leases | (1,531 | ) | (450 | ) | ||||
| Accounts payable and accrued expenses | 118 | (15,409 | ) | |||||
| Deferred revenue | 20,686 | 8,894 | ||||||
| Net cash provided by (used in) operating activities | 21,995 | (97 | ) | |||||
| Cash flows from investing activities: | ||||||||
| Purchases of property, plant and equipment | (1,376 | ) | (635 | ) | ||||
| Cash paid to settle contingent consideration liabilities | (3,278 | ) | — | |||||
| Cash paid for acquisition, net of cash acquired | (29,577 | ) | — | |||||
| Change in other assets | 167 | (8 | ) | |||||
| Net cash used in investing activities | (34,064 | ) | (643 | ) | ||||
| Cash flows from financing activities: | ||||||||
| Repurchase of treasury stock | (126 | ) | — | |||||
| Repayment of debt | (25 | ) | (49 | ) | ||||
| Cash paid related to registration of common stock shares | (148 | ) | — | |||||
| Proceeds from exercise of employee stock options and ESPP | 157 | 136 | ||||||
| Net cash (used in) provided by financing activities | (142 | ) | 87 | |||||
| Effect of exchange rate changes on cash | (29 | ) | 3 | |||||
| Net decrease in cash, cash equivalents and restricted cash | (12,240 | ) | (650 | ) | ||||
| Cash, cash equivalents and restricted cash at beginning of period | 92,280 | 25,675 | ||||||
| Cash, cash equivalents and restricted cash at end of period | $ | 80,040 | $ | 25,025 | ||||
| RECONCILIATION OF GAAP NET INCOME (LOSS) TO NON-GAAP NET INCOME (LOSS) (In thousands, except per share data) | ||||||||||||||||
| Three Months Ended December 31, | Nine Months Ended December 31, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Net income (loss) | $ | 2,465 | $ | (1,649 | ) | $ | 4,828 | $ | (9,532 | ) | ||||||
| Stock-based compensation | 2,861 | 1,140 | 4,933 | 3,608 | ||||||||||||
| Acquisition costs | 15 | — | 1,095 | — | ||||||||||||
| Amortization of acquisition-related intangibles | 706 | 538 | 1,727 | 1,620 | ||||||||||||
| Change in fair value of contingent consideration | — | 852 | 6,682 | 3,052 | ||||||||||||
| Non-GAAP net income (loss) | $ | 6,047 | $ | 881 | $ | 19,265 | $ | (1,252 | ) | |||||||
| Non-GAAP net income (loss) per share - basic | $ | 0.16 | $ | 0.03 | $ | 0.52 | $ | (0.04 | ) | |||||||
| Non-GAAP net income (loss) per share - diluted | $ | 0.16 | $ | 0.03 | $ | 0.51 | $ | (0.04 | ) | |||||||
| Weighted average shares outstanding - basic | 37,661 | 29,092 | 36,766 | 28,728 | ||||||||||||
| Weighted average shares outstanding - diluted | 38,463 | 29,428 | 37,457 | 28,728 | ||||||||||||
| Reconciliation of Forecast GAAP Net Loss to Non-GAAP Net Income (In millions, except per share data) | ||||
| Three Months Ending | ||||
| March 31, 2025 | ||||
| Net loss | $ | (1.0 | ) | |
| Stock-based compensation | 2.8 | |||
| Amortization of acquisition-related intangibles | 0.7 | |||
| Non-GAAP net income | $ | 2.5 | ||
| Non-GAAP net income per share | $ | 0.07 | ||
| Shares outstanding | 37.9 | |||
Note: Non-GAAP net income (loss) is defined by the Company as net income (loss) before stock-based compensation; amortization of acquisition-related intangibles; acquisition costs; change in fair value of contingent consideration, other non-cash or unusual charges, and the tax effect of adjustments calculated at the relevant rate for our non-GAAP metric. The Company believes non-GAAP net income (loss) and non-GAAP net income (loss) per share assist management and investors in comparing the Company’s performance across reporting periods on a consistent basis by excluding these non-cash, non-recurring or other charges that it does not believe are indicative of its core operating performance. Actual GAAP and non-GAAP net loss for the fiscal quarter ending March 31, 2025, including the above adjustments, may differ materially from those forecasted in the table above. Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position or cash flow that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. The non-GAAP measure included in this release, however, should be considered in addition to, and not as a substitute for or superior to, operating income or other measures of financial performance prepared in accordance with GAAP. A reconciliation of GAAP to non-GAAP net income (loss) is set forth in the table above.
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Investor Relations Contact:
LHA Investor Relations
Carolyn Capaccio
(212) 838-3777
amscIR@lhai.com
Public Relations Contact:
RooneyPartners
Joe Luongo
(914) 906-5903
AMSC Director, Communications:
Nicol Golez
978-399-8344
Nicol.Golez@amsc.com
FAQ
What was AMSC's revenue growth in Q3 FY2024?
How much net income did AMSC report for Q3 FY2024?
What is AMSC's revenue guidance for Q4 FY2024?
How much cash does AMSC have as of December 31, 2024?
What is AMSC's earnings forecast for Q4 FY2024?
