Silicom Reports Q1 2025 Results
Silicom (NASDAQ: SILC) reported its Q1 2025 financial results with revenues of $14.4 million, unchanged from Q1 2024. The company posted a GAAP net loss of $2.8 million ($0.49 per share), improving from a $3.4 million loss in Q1 2024. Non-GAAP net loss was $2.1 million ($0.37 per share).
The company secured three new Design Wins from existing customers in cybersecurity and network testing sectors. Management projects Q2 2026 revenues between $14.5-15.5 million, expecting low single-digit growth for 2025 and double-digit growth starting 2026. Long-term guidance targets EPS above $3 on revenues of $150-160 million.
Silicom (NASDAQ: SILC) ha comunicato i risultati finanziari del primo trimestre 2025 con ricavi pari a 14,4 milioni di dollari, invariati rispetto al primo trimestre 2024. L'azienda ha registrato una perdita netta GAAP di 2,8 milioni di dollari (0,49 dollari per azione), migliorando rispetto alla perdita di 3,4 milioni di dollari del primo trimestre 2024. La perdita netta non GAAP è stata di 2,1 milioni di dollari (0,37 dollari per azione).
La società ha ottenuto tre nuovi Design Wins da clienti esistenti nei settori della cybersecurity e dei test di rete. Il management prevede ricavi per il secondo trimestre 2026 compresi tra 14,5 e 15,5 milioni di dollari, con una crescita prevista a una cifra bassa per il 2025 e a due cifre a partire dal 2026. Le previsioni a lungo termine puntano a un utile per azione superiore a 3 dollari su ricavi tra 150 e 160 milioni di dollari.
Silicom (NASDAQ: SILC) informó sus resultados financieros del primer trimestre de 2025 con ingresos de 14,4 millones de dólares, sin cambios respecto al primer trimestre de 2024. La compañía registró una pérdida neta GAAP de 2,8 millones de dólares (0,49 dólares por acción), mejorando desde una pérdida de 3,4 millones en el primer trimestre de 2024. La pérdida neta no GAAP fue de 2,1 millones de dólares (0,37 dólares por acción).
La empresa aseguró tres nuevos Design Wins de clientes existentes en los sectores de ciberseguridad y pruebas de redes. La dirección proyecta ingresos para el segundo trimestre de 2026 entre 14,5 y 15,5 millones de dólares, esperando un crecimiento de un solo dígito bajo para 2025 y de dos dígitos a partir de 2026. La guía a largo plazo apunta a un BPA superior a 3 dólares con ingresos de 150 a 160 millones de dólares.
Silicom (NASDAQ: SILC)은 2025년 1분기 재무 결과를 발표하며 매출액이 1,440만 달러로 2024년 1분기와 동일했습니다. 회사는 GAAP 기준 순손실 280만 달러(주당 0.49달러)를 기록했으며, 이는 2024년 1분기 340만 달러 손실에서 개선된 수치입니다. 비GAAP 순손실은 210만 달러(주당 0.37달러)였습니다.
회사는 사이버보안 및 네트워크 테스트 분야의 기존 고객으로부터 세 건의 신규 디자인 수주를 확보했습니다. 경영진은 2026년 2분기 매출을 1,450만~1,550만 달러로 예상하며, 2025년에는 한 자릿수 성장, 2026년부터는 두 자릿수 성장을 기대하고 있습니다. 장기 가이던스는 매출 1억 5,000만~1억 6,000만 달러에 주당순이익(EPS) 3달러 이상을 목표로 하고 있습니다.
Silicom (NASDAQ : SILC) a publié ses résultats financiers du premier trimestre 2025 avec un chiffre d'affaires de 14,4 millions de dollars, stable par rapport au premier trimestre 2024. La société a enregistré une perte nette GAAP de 2,8 millions de dollars (0,49 dollar par action), en amélioration par rapport à une perte de 3,4 millions au premier trimestre 2024. La perte nette non GAAP s'est élevée à 2,1 millions de dollars (0,37 dollar par action).
L'entreprise a obtenu trois nouveaux Design Wins auprès de clients existants dans les secteurs de la cybersécurité et des tests réseau. La direction prévoit un chiffre d'affaires pour le deuxième trimestre 2026 compris entre 14,5 et 15,5 millions de dollars, anticipant une croissance en faible chiffre pour 2025 et à deux chiffres à partir de 2026. Les prévisions à long terme visent un BPA supérieur à 3 dollars sur un chiffre d'affaires de 150 à 160 millions de dollars.
Silicom (NASDAQ: SILC) meldete seine Finanzergebnisse für das erste Quartal 2025 mit einem Umsatz von 14,4 Millionen US-Dollar, unverändert zum ersten Quartal 2024. Das Unternehmen verzeichnete einen GAAP-Nettogewinn von -2,8 Millionen US-Dollar (0,49 US-Dollar Verlust je Aktie), was eine Verbesserung gegenüber dem Verlust von 3,4 Millionen US-Dollar im ersten Quartal 2024 darstellt. Der Non-GAAP-Nettogewinn betrug -2,1 Millionen US-Dollar (0,37 US-Dollar Verlust je Aktie).
Das Unternehmen sicherte sich drei neue Design Wins von bestehenden Kunden in den Bereichen Cybersicherheit und Netzwerktests. Das Management prognostiziert für das zweite Quartal 2026 Umsätze zwischen 14,5 und 15,5 Millionen US-Dollar und erwartet für 2025 ein geringfügiges einstelliges Wachstum sowie ab 2026 zweistelliges Wachstum. Die langfristige Prognose sieht einen Gewinn je Aktie von über 3 US-Dollar bei Umsätzen von 150 bis 160 Millionen US-Dollar vor.
- Net loss improved from $3.4M to $2.8M year-over-year
- Secured three new Design Wins from existing customers
- Projected revenue growth acceleration starting 2026
- Long-term target of $150-160M revenue with EPS above $3
- Flat revenue growth at $14.4M compared to Q1 2024
- Continued net loss of $2.8M in Q1 2025
- Low single-digit growth expected for 2025
- Double-digit growth delayed until 2026
Insights
Silicom shows improved loss metrics but flat revenue, with modest growth expected while building design win momentum for future expansion.
Silicom reported $14.4 million in revenue for Q1 2025, unchanged from Q1 2024, indicating stagnant top-line performance. However, the company showed modest improvement in its bottom line, reducing its GAAP net loss to
The guidance suggests minimal near-term revenue acceleration, with Q2 projected at
The company's strategic focus on design wins appears to be gaining traction, with three new wins secured since the beginning of 2025 from repeat customers across their product range. These wins span cyber security leaders and a global network test equipment company, demonstrating cross-sector appeal of their networking and data infrastructure solutions.
The disconnect between current financial performance and future projections highlights the execution risk in Silicom's growth strategy. While the expansion of business with existing customers validates product quality, the gap between current quarterly revenue of
For context, Silicom's
KFAR SAVA,
Financial Results
Silicom's revenues for the first quarter of 2025 were
On a GAAP basis, the company's net loss for the quarter totalled
On a non-GAAP basis (as described and reconciled below), net loss for the quarter totalled
Guidance
Management projects that revenues for the second quarter of 2026 will range from
Comments of Management
Liron Eizenman, Silicom's President and CEO, commented, "The first quarter was another period of strong execution in line with our strategic plan, with significant Design Win momentum and a growing pipeline that we expect to begin accelerating our revenue growth in 2026 and beyond."
Mr. Eizenman continued, "The most tangible indicator of our progress is the impressive number of Design Wins that we are closing and the breadth and depth of our Design Win opportunity funnel. Since the beginning of the year, we have been awarded three important new Wins - two from cyber security leaders and one from a global network test equipment company – which together encompassed our full product range, from Smart NICs and FPGA-based products all the way through to our advanced Edge systems. All three are repeat customers who already relied on our products to give their systems a performance edge, and who expanded their business with Silicom as they embarked on strategic new projects. This demonstrates the power of each Design Win not only to generate its own stream of recurring revenues, but also to open the door to multiple additional opportunities. This, combined with the growing number of potential new customers who are currently evaluating and testing our products, is the basis for our expectation to secure at least 4-6 additional Design Wins this year."
Mr. Eizenman concluded, "Looking forward, we continue to project low single-digit growth for 2025 and double-digit growth beginning in 2026, leading to an EPS above
***
Conference Call Details
Silicom's Management will host an interactive conference today, April 28th, at 9am Eastern Time (6am Pacific Time, 4pm Israel Time) to review and discuss the results.
To participate, investors may either listen via a webcast link hosted on Silicom's website or via the dial-in. The link is under the investor relations' webcast section of Silicom's website at https://www.silicom-usa.com/webcasts/
For those that wish to dial in via telephone, one of the following teleconferencing numbers may be used:
US: 1 866 860 9642
INTERNATIONAL: +972 3 918 0609
At: 9:00am Eastern Time, 6:00am Pacific Time, 4:00pm Israel Time
It is advised to connect to the conference call a few minutes before the start.
For those unable to listen to the live call, a replay of the call will be available for three months from the day after the call under the above-mentioned webcast section of Silicom's website.
***
Non-GAAP Financial Measures
This release, including the financial tables below, presents other financial information that may be considered "non-GAAP financial measures" under Regulation G and related reporting requirements promulgated by the Securities and Exchange Commission (the "SEC") as they apply to our company. These non-GAAP financial measures exclude compensation expenses in respect of options and RSUs granted to directors, officers and employees, taxes on amortization of acquired intangible assets, as well as lease liabilities - financial expenses (income). Non-GAAP financial measures should be evaluated in conjunction with, and are not a substitute for, GAAP financial measures. The tables also present the GAAP financial measures, which are most comparable to the non-GAAP financial measures as well as reconciliation between the non-GAAP financial measures and the most comparable GAAP financial measures. The non-GAAP financial information presented herein should not be considered in isolation from or as a substitute for operating income (loss), net income (loss) or per share data prepared in accordance with GAAP.
About Silicom
Silicom Ltd. is an industry-leading provider of high-performance networking and data infrastructure solutions. Designed primarily to improve performance and efficiency in Cloud and Data Center environments, Silicom's solutions increase throughput, decrease latency and boost the performance of servers and networking appliances, the infrastructure backbone that enables advanced Cloud architectures and leading technologies like NFV, SD-WAN and Cyber Security. Our innovative solutions for high-density networking, high-speed fabric switching, offloading and acceleration, which utilize a range of cutting-edge silicon technologies as well as FPGA-based solutions, are ideal for scaling-up and scaling-out cloud infrastructures.
Silicom products are used by major Cloud players, service providers, telcos and OEMs as components of their infrastructure offerings, including both add-on adapters in the Data Center and stand-alone virtualized/universal CPE devices at the edge.
Silicom's long-term, trusted relationships with more than 200 customers throughout the world, its more than 400 active Design Wins and more than 300 product SKUs have made Silicom a "go-to" connectivity/performance partner of choice for technology leaders around the globe.
For more information, please visit: www.silicom.co.il
Statements in this press release which are not historical data are forward-looking statements which involve known and unknown risks, uncertainties, or other factors not under the company's control, which may cause actual results, performance, or achievements of the company to be materially different from the results, performance, or other expectations implied by these forward-looking statements. These factors include, but are not limited to, Silicom's increasing dependence for substantial revenue growth on a limited number of customers, the speed and extent to which Silicom's solutions are adopted by the relevant markets, difficulty in commercializing and marketing of Silicom's products and services, maintaining and protecting brand recognition, protection of intellectual property, competition, disruptions to its manufacturing, sales & marketing, development and customer support activities, the impact of the wars in
Further information about the company's businesses, including information about factors that could materially affect Silicom's results of operations and financial condition, are discussed in our Annual Report on Form 20-F and other documents filed by the Company and that may be subsequently filed by the company from time to time with the SEC. These forward-looking statements can generally be identified as such because the context of the statement will include words such as "expect," "should," "believe," "anticipate" or words of similar import. Similarly, statements that describe future plans, objectives or goals are also forward-looking statements. In light of significant risks and uncertainties inherent in forward-looking statements, the inclusion of such statements should not be regarded as a representation by the company that it will achieve such forward-looking statements. The company disclaims any duty to update such statements, whether as a result of new information, future events, or otherwise.
Company Contact: Eran Gilad, CFO Silicom Ltd. Tel: +972-9-764-4555 E-mail: erang@silicom.co.il | Investor Relations Contact: Ehud Helft EK Global Investor Relations Tel: +1 212 378 8040 E-mail: silicom@ekgir.com |
-- FINANCIAL TABLES FOLLOW –
Silicom Ltd. Consolidated Balance Sheets | |||||
(US$ thousands) | |||||
March 31, | December 31, | ||||
2025 | 2024 | ||||
Assets | |||||
Current assets | |||||
Cash and cash equivalents | $ | 51,171 | $ | 51,283 | |
Marketable securities | 20,919 | 20,860 | |||
Accounts receivables: Trade, net | 13,352 | 11,748 | |||
Accounts receivables: Other | 6,041 | 4,839 | |||
Inventories | 39,901 | 41,060 | |||
Total current assets | 131,384 | 129,790 | |||
Marketable securities | 4,893 | 6,839 | |||
Assets held for employees' severance benefits | 1,440 | 1,483 | |||
Property, plant and equipment, net | 3,098 | 3,055 | |||
Intangible assets, net | 2,334 | 2,300 | |||
Right of Use | 6,539 | 6,942 | |||
Total assets | $ | 149,688 | $ | 150,409 | |
Liabilities and shareholders' equity | |||||
Current liabilities | |||||
Trade accounts payable | $ | 8,171 | $ | 6,477 | |
Other accounts payable and accrued expenses | 7,850 | 6,945 | |||
Lease Liabilities | 1,678 | 1,670 | |||
Total current liabilities | 17,699 | 15,092 | |||
Lease Liabilities | 4,552 | 4,797 | |||
Liability for employees' severance benefits | 2,604 | 2,649 | |||
Deferred tax liabilities | 157 | 32 | |||
Total liabilities | 25,012 | 22,570 | |||
Shareholders' equity | |||||
Ordinary shares and additional paid-in capital | 74,756 | 73,859 | |||
Treasury shares | (54,766) | (53,512) | |||
Retained earnings | 104,686 | 107,492 | |||
Total shareholders' equity | 124,676 | 127,839 | |||
Total liabilities and shareholders' equity | $ | 149,688 | $ | 150,409 | |
Silicom Ltd. Consolidated Statements of Operations | |||||||
(US$ thousands, except for share and per share data) | |||||||
Three-month period | |||||||
ended March 31, | |||||||
2025 | 2024 | ||||||
Sales | $ | 14,385 | $ | 14,365 | |||
Cost of sales | 10,110 | 10,326 | |||||
Gross profit | 4,275 | 4,039 | |||||
Research and development expenses | 4,926 | 4,921 | |||||
Selling and marketing expenses | 1,487 | 1,520 | |||||
General and administrative expenses | 1,077 | 1,061 | |||||
Total operating expenses | 7,490 | 7,502 | |||||
Operating income (loss) | (3,215) | (3,463) | |||||
Financial income (expenses), net | 703 | 399 | |||||
Income (loss) before income taxes | (2,512) | (3,064) | |||||
Income taxes | 294 | 368 | |||||
Net income (loss) | $ | (2,806) | $ | (3,432) | |||
Basic and diluted income (loss) per ordinary share (US$) | $ | (0.49) | $ | (0.55) | |||
Weighted average number of ordinary shares used to | 5,735 | 6,274 | |||||
Silicom Ltd. Reconciliation of Non-GAAP Financial Results | ||||||||
(US$ thousands, except for share and per share data) | ||||||||
Three-month period | ||||||||
ended March 31, | ||||||||
2025 | 2024 | |||||||
GAAP gross profit | $ | 4,275 | $ | 4,039 | ||||
(1) Share-based compensation (*) | 77 | 61 | ||||||
Non-GAAP gross profit | $ | 4,352 | $ | 4,100 | ||||
GAAP operating income (loss) | $ | (3,215) | $ | (3,463) | ||||
Gross profit adjustments | 77 | 61 | ||||||
(1) Share-based compensation (*) | 747 | 689 | ||||||
Non-GAAP operating income (loss) | $ | (2,391) | $ | (2,713) | ||||
GAAP net income (loss) | $ | (2,806) | $ | (3,432) | ||||
Operating income (loss) adjustments | 824 | 750 | ||||||
(2) Lease liabilities - Financial expenses (income) | (119) | (43) | ||||||
(3) Taxes on amortization of acquired intangible assets | - | 353 | ||||||
Non-GAAP net income (loss) | $ | (2,101) | $ | (2,372) | ||||
GAAP net income (loss) | $ | (2,806) | $ | (3,432) | ||||
Adjustments for Non-GAAP Cost of sales | 77 | 61 | ||||||
Adjustments for Non-GAAP Research and development expenses | 360 | 313 | ||||||
Adjustments for Non-GAAP Selling and marketing expenses | 180 | 176 | ||||||
Adjustments for Non-GAAP General and administrative expenses | 207 | 200 | ||||||
Adjustments for Non-GAAP Financial income (loss), net | (119) | (43) | ||||||
Adjustments for Non-GAAP Income taxes | - | 353 | ||||||
Non-GAAP net income (loss) | $ | (2,101) | $ | (2,372) | ||||
GAAP basic and diluted income (loss) per ordinary share (US$) | $ | (0.49) | $ | (0.55) | ||||
(1) Share-based compensation (*) | 0.14 | 0.12 | ||||||
(2) Lease liabilities - Financial expenses (income) | (0.02) | (0.01) | ||||||
(3) Taxes on amortization of acquired intangible assets | - | 0.06 | ||||||
Non-GAAP basic and diluted income (loss) per ordinary share (US$) | $ | (0.37) | $ | (0.38) | ||||
(*) Adjustments related to share-based compensation expenses according to ASC topic 718 (SFAS 123 (R)) | ||||||||
Logo: https://mma.prnewswire.com/media/733229/Silicom_Ltd_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/silicom-reports-q1-2025-results-302439517.html
SOURCE Silicom Ltd.
FAQ
What were Silicom's (SILC) Q1 2025 revenue and earnings?
How many Design Wins did Silicom (SILC) secure in early 2025?
What is Silicom's (SILC) revenue guidance for Q2 2026?
What are Silicom's (SILC) long-term revenue and EPS targets?
How does Silicom's (SILC) Q1 2025 performance compare to Q1 2024?
