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Alpha and Omega Semiconductor Limited (AOSL-6.00%) has filed its Form 10-Q filing for the fiscal quarter ended December 31, 2024.
The filing reports a total revenue of $173.2 million for the quarter, marking a 4.8% increase compared to $165.3 million in the same period the previous year. This growth was primarily driven by increased sales of power discrete and power IC products.
Cost of goods sold for the quarter was $133.1 million, up from $121.3 million in the previous year, leading to a gross profit of $40.0 million, down from $44.0 million. The gross margin decreased to 23.1% from 26.6% due to pricing pressures and higher material costs.
Research and development expenses rose to $24.0 million from $22.9 million, primarily due to increased employee compensation and engineering expenses.
Selling, general, and administrative expenses slightly decreased to $22.0 million from $22.2 million, with reductions in audit and consulting fees offsetting increases in compensation expenses.
The company reported a net loss of $6.6 million for the quarter, compared to a net loss of $2.9 million in the previous year. The loss was influenced by decreased gross margins and increased operating expenses.
Cash provided by operating activities was $25.1 million, a significant improvement from a cash use of $9.6 million in the previous year, attributed to reduced inventory purchases and changes in working capital.
Alpha and Omega Semiconductor Limited continues to monitor the potential impact of the Bermuda Corporate Income Tax Act 2023, which may affect its future tax obligations.
The company maintains a focus on diversifying its product portfolio and expanding its market presence, while managing manufacturing costs and capacity utilization.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Alpha and Omega Semiconductor Limited quarterly 10-Q report dated February 6, 2025. To report an error, please email earnings@qz.com.