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SemiLEDs Reports Fourth Quarter and Fiscal Year End 2024 Financial Results

HSINCHU, Taiwan--(BUSINESS WIRE)-- SemiLEDs Corporation (NASDAQ: LEDS), 鈥淪emiLEDs鈥� or the 鈥淐ompany,鈥� a developer and manufacturer of LED chips and LED components, today announced its financial results for the fourth quarter and full fiscal year, ended August 31, 2024.

Revenue for the fourth quarter of fiscal 2024 was $1.3 million, compared to $1.3 million in the third quarter of fiscal 2024. GAAP net loss attributable to SemiLEDs stockholders for the fourth quarter of fiscal 2024 increased to $560 thousand, or $(0.08) per diluted share, compared to a net loss of $319 thousand, or $(0.04) per diluted share, in the third quarter of fiscal 2024.

GAAP gross margin for the fourth quarter of fiscal 2024 decreased to 12%, compared to 41% for the third quarter of fiscal 2024. Operating margin for the fourth quarter of fiscal 2024 decreased to negative 62%, compared with negative 36% for the third quarter of fiscal 2024. The Company鈥檚 cash and cash equivalents were $1.7 million at August 31, 2024, compared to $1.7 million at the end of the third quarter of fiscal 2024.

Revenues for fiscal year 2024 decreased to $5.2 million, compared to $6.0 million in fiscal year 2023. GAAP net loss attributable to SemiLEDs stockholders for fiscal year 2024 was $2.0 million, or $(0.32) per diluted share, compared to a net loss of $2.7 million, or $(0.55) per diluted share, in fiscal year 2023.

GAAP gross margin for fiscal year 2024 increased to 20%, compared with gross margin for fiscal year 2023 of 17%. Operating margin for fiscal year 2024 was negative 57%, compared with negative 57% in fiscal year 2023. The Company鈥檚 cash and cash equivalents were $1.7 million as of August 31, 2024, compared to $2.6 million as of August 31, 2023.

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 鈥渇orward-looking鈥� 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, the consideration of potential strategic alternatives, any statements about historical results that may suggest trends for SemiLEDs鈥� 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鈥� position to capitalize on any market opportunities; and any statements of assumptions underlying any of the foregoing. There can be no assurance that SemiLEDs will be able to identify or execute upon any strategic alternatives or, if alternatives are identified, the possible terms of any such strategic agreement. These forward-looking statements are based on current expectations, estimates, forecasts and projections of future SemiLEDs鈥� or industry performance based on management鈥檚 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鈥� Annual Report on Form 10-K filed with the Securities and Exchange Commission (the 鈥淪EC鈥�) and other SemiLEDs filings with the SEC (which you may obtain for free at the SEC鈥檚 website at ) discuss some of the important risks and other factors that may affect SemiLEDs鈥� 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.

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Christopher Lee

Chief Financial Officer

SemiLEDs Corporation

+886-37-586788

[email protected]

Source: SemiLEDs Corporation