In This Story
SemiLEDs Corporation has submitted its 10-Q filing for the quarterly period ended November 30, 2024.
The filing includes financial statements for the quarter, showing a decrease in revenues to $1.3 million from $1.6 million in the same quarter the previous year. The decrease is attributed to a reduction in sales of LED components.
Cost of revenues for the quarter was $1.0 million, representing 79% of sales, compared to 85% in the same quarter of the previous year. This decrease in cost ratio is due to lower volumes sold for LED components.
The company reported a gross profit of $260,000 for the quarter, compared to $245,000 in the previous year, with the increase attributed to an increase in other operating revenues.
Research and development expenses decreased to $221,000 from $372,000, primarily due to a decrease in materials and supplies and payroll expenses.
Selling, general, and administrative expenses decreased to $696,000 from $742,000, mainly due to a decrease in payroll, entertainment, and travel expenses.
Net loss for the quarter was $547,000, compared to $596,000 in the previous year. The net loss attributable to SemiLEDs stockholders was also $547,000, compared to $598,000 in the previous year.
Cash used in operating activities was $158,000, while cash used in investing and financing activities was $122,000 and $244,000, respectively.
SemiLEDs had cash and cash equivalents of $1.2 million as of November 30, 2024. The company acknowledges its need to improve liquidity and access alternative sources of funding.
The filing also details various financial agreements, including loan agreements with Simplot Taiwan Inc. and Trung Doan, and amendments to convertible unsecured promissory notes.
SemiLEDs does not anticipate cash dividend payments to common stockholders in the near future.
The company continues to focus on developing its LED products for various applications, including UV LED industrial printers, medical applications, and high-standard commercial lighting.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the SemiLEDS Corporation quarterly 10-Q report dated January 13, 2025. To report an error, please email earnings@qz.com.