SemiLEDs Reports Second Quarter Fiscal Year 2025 Financial Results

Rhea-AI Summary

SemiLEDs (NASDAQ: LEDS) reported its Q2 FY2025 financial results, showing significant revenue growth to $10.9 million, up from $1.3 million in Q1 FY2025. The company achieved a net income of $388,000 ($0.05 per diluted share), compared to a previous quarter loss of $547,000 (-$0.08 per diluted share).

The LED chip manufacturer's gross margin decreased to 9% from 21% in Q1, while operating margin improved to 1% from -52%. Cash and cash equivalents stood at $2.4 million as of February 28, 2025, doubling from $1.2 million at the end of Q1.

Positive

• Revenue increased substantially from $1.3M to $10.9M quarter-over-quarter
• Turned profitable with $388K net income vs previous quarter's $547K loss
• Operating margin improved from -52% to 1%
• Cash position doubled to $2.4M from $1.2M

Negative

• Gross margin declined significantly from 21% to 9%

HSINCHU, Taiwan--(BUSINESS WIRE)-- SemiLEDs Corporation (NASDAQ: LEDS), “SemiLEDs” or the “Company,” a developer and manufacturer of LED chips and LED components, today announced its financial results for the second quarter of fiscal year 2025, ended February 28, 2025.

Revenue for the second quarter of fiscal 2025 increased to $10.9 million, compared to $1.3 million in the first quarter of fiscal 2025. GAAP net income attributable to SemiLEDs stockholders for the second quarter of fiscal 2025 increased to $388 thousand, or $0.05 per diluted share, compared to a net loss of $547 thousand, or $(0.08) per diluted share, in the first quarter of fiscal 2025.

GAAP gross margin for the second quarter of fiscal 2025 decreased to 9%, compared to 21% for the first quarter of fiscal 2025. Operating margin for the second quarter of fiscal 2025 was 1%, compared with negative 52% for the first quarter of fiscal 2025. The Company’s cash and cash equivalents were $2.4 million at February 28, 2025, compared to $1.2 million at the end of the first quarter of fiscal 2025.

About SemiLEDs

SemiLEDs develops and manufactures LED chips and LED components for general lighting applications, including street lights and commercial, industrial, system and residential lighting, along with specialty industrial applications such as ultraviolet (UV) curing, medical/cosmetic, counterfeit detection, horticulture, architectural lighting and entertainment lighting. SemiLEDs sells blue, white, green and UV LED chips.

Forward Looking Statements

This press release contains statements that may constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, revenue expectations for the third quarter ending May 31, 2025 the expedited timing of the recognition of revenue relating to the buy-sell purchase orders and estimated costs of revenue related thereto, any statements about historical results that may suggest trends for SemiLEDs’ business; any statements of the plans, strategies and objectives of management for future operations; any statements of expectation or belief regarding recovery of the LED industry, market opportunities and other future events or technology developments; any statements regarding SemiLEDs’ position to capitalize on any market opportunities; and any statements of assumptions underlying any of the foregoing. These forward-looking statements are based on current expectations, estimates, forecasts and projections of future SemiLEDs’ or industry performance based on management’s judgment, beliefs, current trends and market conditions and involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. SemiLEDs’ Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) and other SemiLEDs filings with the SEC (which you may obtain for free at the SEC’s website at http://www.sec.gov) discuss some of the important risks and other factors that may affect SemiLEDs’ business, results of operations and financial condition. SemiLEDs undertakes no intent or obligation to publicly update or revise any of these forward looking statements, whether as a result of new information, future events or otherwise, except as required by law.

SEMILEDS CORPORATION AND SUBSIDIARIES
Unaudited Condensed Consolidated Balance Sheets
(In thousands of U.S. dollars)
		February 28,				November 30,
		2025				2024
ASSETS
CURRENT ASSETS:
Cash and cash equivalents		$	2,384			$	1,248
Restricted cash and cash equivalents			76				77
Accounts receivable (including related parties), net			280				261
Inventories			13,531				3,722
Prepaid expenses and other current assets			1,973				185
Total current assets			18,244				5,493
Property, plant and equipment, net			2,598				2,609
Operating lease right of use assets			1,119				1,041
Intangible assets, net			89				85
Investments in unconsolidated entities			930				949
Other assets			206				223
TOTAL ASSETS		$	23,186			$	10,400
LIABILITIES AND EQUITY
CURRENT LIABILITIES:
Current installments of long-term debt		$	1,242			$	2,847
Accounts payable			445				340
Accrued expenses and other current liabilities			15,063				2,799
Other payable to related parties			1,096				1,049
Operating lease liabilities, current			128				76
Total current liabilities			17,974				7,111
Long-term debt, excluding current installments			626				744
Operating lease liabilities, less current portion			991				965
Total liabilities			19,591				8,820
EQUITY:
SemiLEDs stockholders’ equity
Common stock			—				—
Additional paid-in capital			188,913				187,277
Accumulated other comprehensive income			3,522				3,531
Accumulated deficit			(188,840	)			(189,228	)
Total SemiLEDs stockholders' equity			3,595				1,580
Total equity			3,595				1,580
TOTAL LIABILITIES AND EQUITY		$	23,186			$	10,400

SEMILEDS CORPORATION AND SUBSIDIARIES
Unaudited Condensed Consolidated Statements of Operations
(In thousands of U.S. dollars and shares, except per share data)
		Three Months Ended
		February 28,				November 30,
		2025				2024
Revenues, net		$	10,872			$	1,261
Cost of revenues			9,869				1,001
Gross profit			1,003				260
Operating expenses:
Research and development			279				221
Selling, general and administrative			614				696
Total operating expenses			893				917
Income (loss) from operations			110				(657	)
Other income (expenses):
Investment loss			(10	)			(3	)
Interest expenses, net			(42	)			(67	)
Other income, net			265				282
Foreign currency transaction gain (loss), net			65				(102	)
Total other income, net			278				110
Income (loss) before income taxes			388				(547	)
Income tax expense			—				—
Net income (loss)			388				(547	)
Net income (loss) attributable to SemiLEDs stockholders		$	388			$	(547	)
Net income (loss) per share attributable to SemiLEDs stockholders:
Basic and diluted		$	0.05			$	(0.08	)
Shares used in computing net income (loss) per share attributable to SemiLEDs stockholders:
Basic and diluted			7,222				7,212

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20250410576922/en/

Christopher Lee

Chief Financial Officer

SemiLEDs Corporation

+886-37-586788

investor@semileds.com

Source: SemiLEDs Corporation

FAQ

What was SemiLEDs (LEDS) revenue in Q2 2025?

SemiLEDs reported revenue of $10.9 million in Q2 fiscal year 2025.

How much did SemiLEDs (LEDS) earn per share in Q2 2025?

SemiLEDs earned $0.05 per diluted share in Q2 fiscal year 2025.

What was SemiLEDs (LEDS) gross margin in Q2 2025?

SemiLEDs' gross margin was 9% in Q2 fiscal year 2025, down from 21% in Q1.

How much cash does SemiLEDs (LEDS) have as of February 2025?

SemiLEDs had $2.4 million in cash and cash equivalents as of February 28, 2025.

Did SemiLEDs (LEDS) make a profit in Q2 2025?

Yes, SemiLEDs reported a net income of $388,000 in Q2 fiscal year 2025.