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SemiLEDs Reports Second Quarter Fiscal Year 2025 Financial Results

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HSINCHU, Taiwan--(BUSINESS WIRE)-- SemiLEDs Corporation (NASDAQ: LEDS), “SemiLEDs� or the “Company,� a developer and manufacturer of LED chips and LED components, today announced its financial results for the second quarter of fiscal year 2025, ended February 28, 2025.

Revenue for the second quarter of fiscal 2025 increased to $10.9 million, compared to $1.3 million in the first quarter of fiscal 2025. GAAP net income attributable to SemiLEDs stockholders for the second quarter of fiscal 2025 increased to $388 thousand, or $0.05 per diluted share, compared to a net loss of $547 thousand, or $(0.08) per diluted share, in the first quarter of fiscal 2025.

GAAP gross margin for the second quarter of fiscal 2025 decreased to 9%, compared to 21% for the first quarter of fiscal 2025. Operating margin for the second quarter of fiscal 2025 was 1%, compared with negative 52% for the first quarter of fiscal 2025. The Company’s cash and cash equivalents were $2.4 million at February 28, 2025, compared to $1.2 million at the end of the first quarter of fiscal 2025.

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 “forward-looking� 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, revenue expectations for the third quarter ending May 31, 2025 the expedited timing of the recognition of revenue relating to the buy-sell purchase orders and estimated costs of revenue related thereto, any statements about historical results that may suggest trends for SemiLEDs� 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� position to capitalize on any market opportunities; and any statements of assumptions underlying any of the foregoing. These forward-looking statements are based on current expectations, estimates, forecasts and projections of future SemiLEDs� or industry performance based on management’s 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� Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC�) and other SemiLEDs filings with the SEC (which you may obtain for free at the SEC’s website at ) discuss some of the important risks and other factors that may affect SemiLEDs� 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.

SEMILEDS CORPORATION AND SUBSIDIARIES

Unaudited Condensed Consolidated Balance Sheets

(In thousands of U.S. dollars)

Ìý

Ìý

Ìý

February 28,

Ìý

Ìý

November 30,

Ìý

Ìý

Ìý

2025

Ìý

Ìý

2024

Ìý

ASSETS

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

CURRENT ASSETS:

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Cash and cash equivalents

Ìý

$

2,384

Ìý

Ìý

$

1,248

Ìý

Restricted cash and cash equivalents

Ìý

Ìý

76

Ìý

Ìý

Ìý

77

Ìý

Accounts receivable (including related parties), net

Ìý

Ìý

280

Ìý

Ìý

Ìý

261

Ìý

Inventories

Ìý

Ìý

13,531

Ìý

Ìý

Ìý

3,722

Ìý

Prepaid expenses and other current assets

Ìý

Ìý

1,973

Ìý

Ìý

Ìý

185

Ìý

Total current assets

Ìý

Ìý

18,244

Ìý

Ìý

Ìý

5,493

Ìý

Property, plant and equipment, net

Ìý

Ìý

2,598

Ìý

Ìý

Ìý

2,609

Ìý

Operating lease right of use assets

Ìý

Ìý

1,119

Ìý

Ìý

Ìý

1,041

Ìý

Intangible assets, net

Ìý

Ìý

89

Ìý

Ìý

Ìý

85

Ìý

Investments in unconsolidated entities

Ìý

Ìý

930

Ìý

Ìý

Ìý

949

Ìý

Other assets

Ìý

Ìý

206

Ìý

Ìý

Ìý

223

Ìý

TOTAL ASSETS

Ìý

$

23,186

Ìý

Ìý

$

10,400

Ìý

LIABILITIES AND EQUITY

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

CURRENT LIABILITIES:

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Current installments of long-term debt

Ìý

$

1,242

Ìý

Ìý

$

2,847

Ìý

Accounts payable

Ìý

Ìý

445

Ìý

Ìý

Ìý

340

Ìý

Accrued expenses and other current liabilities

Ìý

Ìý

15,063

Ìý

Ìý

Ìý

2,799

Ìý

Other payable to related parties

Ìý

Ìý

1,096

Ìý

Ìý

Ìý

1,049

Ìý

Operating lease liabilities, current

Ìý

Ìý

128

Ìý

Ìý

Ìý

76

Ìý

Total current liabilities

Ìý

Ìý

17,974

Ìý

Ìý

Ìý

7,111

Ìý

Long-term debt, excluding current installments

Ìý

Ìý

626

Ìý

Ìý

Ìý

744

Ìý

Operating lease liabilities, less current portion

Ìý

Ìý

991

Ìý

Ìý

Ìý

965

Ìý

Total liabilities

Ìý

Ìý

19,591

Ìý

Ìý

Ìý

8,820

Ìý

EQUITY:

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

SemiLEDs stockholders� equity

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Common stock

Ìý

Ìý

�

Ìý

Ìý

Ìý

�

Ìý

Additional paid-in capital

Ìý

Ìý

188,913

Ìý

Ìý

Ìý

187,277

Ìý

Accumulated other comprehensive income

Ìý

Ìý

3,522

Ìý

Ìý

Ìý

3,531

Ìý

Accumulated deficit

Ìý

Ìý

(188,840

)

Ìý

Ìý

(189,228

)

Total SemiLEDs stockholders' equity

Ìý

Ìý

3,595

Ìý

Ìý

Ìý

1,580

Ìý

Total equity

Ìý

Ìý

3,595

Ìý

Ìý

Ìý

1,580

Ìý

TOTAL LIABILITIES AND EQUITY

Ìý

$

23,186

Ìý

Ìý

$

10,400

Ìý

SEMILEDS CORPORATION AND SUBSIDIARIES

Unaudited Condensed Consolidated Statements of Operations

(In thousands of U.S. dollars and shares, except per share data)

Ìý

Ìý

Ìý

Three Months Ended

Ìý

Ìý

Ìý

February 28,

Ìý

Ìý

November 30,

Ìý

Ìý

Ìý

2025

Ìý

Ìý

2024

Ìý

Revenues, net

Ìý

$

10,872

Ìý

Ìý

$

1,261

Ìý

Cost of revenues

Ìý

Ìý

9,869

Ìý

Ìý

Ìý

1,001

Ìý

Gross profit

Ìý

Ìý

1,003

Ìý

Ìý

Ìý

260

Ìý

Operating expenses:

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Research and development

Ìý

Ìý

279

Ìý

Ìý

Ìý

221

Ìý

Selling, general and administrative

Ìý

Ìý

614

Ìý

Ìý

Ìý

696

Ìý

Total operating expenses

Ìý

Ìý

893

Ìý

Ìý

Ìý

917

Ìý

Income (loss) from operations

Ìý

Ìý

110

Ìý

Ìý

Ìý

(657

)

Other income (expenses):

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Investment loss

Ìý

Ìý

(10

)

Ìý

Ìý

(3

)

Interest expenses, net

Ìý

Ìý

(42

)

Ìý

Ìý

(67

)

Other income, net

Ìý

Ìý

265

Ìý

Ìý

Ìý

282

Ìý

Foreign currency transaction gain (loss), net

Ìý

Ìý

65

Ìý

Ìý

Ìý

(102

)

Total other income, net

Ìý

Ìý

278

Ìý

Ìý

Ìý

110

Ìý

Income (loss) before income taxes

Ìý

Ìý

388

Ìý

Ìý

Ìý

(547

)

Income tax expense

Ìý

Ìý

�

Ìý

Ìý

Ìý

�

Ìý

Net income (loss)

Ìý

Ìý

388

Ìý

Ìý

Ìý

(547

)

Net income (loss) attributable to SemiLEDs stockholders

Ìý

$

388

Ìý

Ìý

$

(547

)

Net income (loss) per share attributable to SemiLEDs stockholders:

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Basic and diluted

Ìý

$

0.05

Ìý

Ìý

$

(0.08

)

Shares used in computing net income (loss) per share attributable to SemiLEDs stockholders:

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Basic and diluted

Ìý

Ìý

7,222

Ìý

Ìý

Ìý

7,212

Ìý

Ìý

Christopher Lee

Chief Financial Officer

SemiLEDs Corporation

+886-37-586788

[email protected]

Source: SemiLEDs Corporation

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