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Transphorm, Inc. (NASDAQ: TGAN) has announced the rescheduling of its financial results release for the third fiscal quarter ended December 31, 2022, initially set for today. The change is due to ongoing evaluations regarding an epiwafer inventory adjustment. Importantly, this adjustment is not expected to affect previous or current quarter revenue or cash flow. Transphorm specializes in high-performance gallium nitride (GaN) power conversion products and holds one of the largest GaN IP portfolios. The company is committed to advancing power electronics efficiency and reducing costs.
Positive
The company has a significant portfolio of over 1,000 GaN patents.
Focus on high-efficiency power conversion products can drive future growth.
Negative
Rescheduling of financial results may create uncertainty among investors.
The ongoing analysis indicates potential internal issues that need addressing.
GOLETA, Calif.--(BUSINESS WIRE)--
Transphorm, Inc. (NASDAQ: TGAN)—a pioneer in and global supplier of high-reliability, high-performance gallium nitride (GaN) power conversion products, today announced that it will reschedule the release of its financial results for the third fiscal quarter ended December 31, 2022 and related conference call, both previously scheduled for today. Further details on the release of the third fiscal quarter financial results and conference call will be announced at a later date.
The rescheduling is a result of ongoing Company analysis and related discussions between the Company and its independent registered public accountants regarding treatment of an epiwafer inventory-related adjustment, which will not have any impact on previous or current quarter revenue or cash flow.
About Transphorm
Transphorm, Inc., a global leader in the GaN revolution, designs and manufactures high performance and high reliability GaN semiconductors for high voltage power conversion applications. Having one of the largest Power GaN IP portfolios of more than 1,000 owned or licensed patents, Transphorm produces the industry’s first JEDEC and AEC-Q101 qualified high voltage GaN semiconductor devices. The Company’s vertically integrated device business model allows for innovation at every development stage: design, fabrication, device, and application support. Transphorm’s innovations are moving power electronics beyond the limitations of silicon to achieve over 99% efficiency, 40% more power density and 20% lower system cost. Transphorm is headquartered in Goleta, California and has manufacturing operations in Goleta and Aizu, Japan. For more information, please visit www.transphormusa.com. Follow us on Twitter @transphormusa and WeChat @ Transphorm_GaN.
