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SemiLEDs Reports Third 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 third quarter of fiscal year 2025, ended May 31, 2025.

Revenue for the third quarter of fiscal 2025 increased to $17.7 million, compared to $10.9 million in the second quarter of fiscal 2025. GAAP net income attributable to SemiLEDs stockholders for the third quarter of fiscal 2025 decreased to $223 thousand, or $0.03 per diluted share, compared to a net income of $388 thousand, or $0.05 per diluted share, in the second quarter of fiscal 2025.

GAAP gross margin for the third quarter of fiscal 2025 decreased to 5%, compared to 9% for the second quarter of fiscal 2025. Operating margin for the third quarter of fiscal 2025 was negative 0.4%, compared with 1% for the second quarter of fiscal 2025. The Company’s cash and cash equivalents were $2.4 million at both May 31, 2025 and at the end of the second 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 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

May 31,

Ìý

Ìý

February 28,

Ìý

Ìý

Ìý

Ìý

2025

Ìý

Ìý

2025

Ìý

Ìý

ASSETS

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

CURRENT ASSETS:

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Cash and cash equivalents

Ìý

$

2,441

Ìý

Ìý

$

2,384

Ìý

Ìý

Restricted cash and cash equivalents

Ìý

Ìý

84

Ìý

Ìý

Ìý

76

Ìý

Ìý

Accounts receivable (including related parties), net

Ìý

Ìý

164

Ìý

Ìý

Ìý

280

Ìý

Ìý

Inventories

Ìý

Ìý

11,933

Ìý

Ìý

Ìý

13,531

Ìý

Ìý

Prepaid expenses and other current assets

Ìý

Ìý

3,099

Ìý

Ìý

Ìý

1,973

Ìý

Ìý

Total current assets

Ìý

Ìý

17,721

Ìý

Ìý

Ìý

18,244

Ìý

Ìý

Property, plant and equipment, net

Ìý

Ìý

2,933

Ìý

Ìý

Ìý

2,598

Ìý

Ìý

Operating lease right of use assets

Ìý

Ìý

1,191

Ìý

Ìý

Ìý

1,119

Ìý

Ìý

Intangible assets, net

Ìý

Ìý

94

Ìý

Ìý

Ìý

89

Ìý

Ìý

Investments in unconsolidated entities

Ìý

Ìý

1,011

Ìý

Ìý

Ìý

930

Ìý

Ìý

Other assets

Ìý

Ìý

230

Ìý

Ìý

Ìý

206

Ìý

Ìý

TOTAL ASSETS

Ìý

$

23,180

Ìý

Ìý

$

23,186

Ìý

Ìý

LIABILITIES AND EQUITY

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

CURRENT LIABILITIES:

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Current installments of long-term debt

Ìý

$

1,285

Ìý

Ìý

$

1,242

Ìý

Ìý

Accounts payable

Ìý

Ìý

10,849

Ìý

Ìý

Ìý

445

Ìý

Ìý

Accrued expenses and other current liabilities

Ìý

Ìý

4,183

Ìý

Ìý

Ìý

15,063

Ìý

Ìý

Other payable to related parties

Ìý

Ìý

1,112

Ìý

Ìý

Ìý

1,096

Ìý

Ìý

Operating lease liabilities, current

Ìý

Ìý

138

Ìý

Ìý

Ìý

128

Ìý

Ìý

Total current liabilities

Ìý

Ìý

17,567

Ìý

Ìý

Ìý

17,974

Ìý

Ìý

Long-term debt, excluding current installments

Ìý

Ìý

566

Ìý

Ìý

Ìý

626

Ìý

Ìý

Operating lease liabilities, less current portion

Ìý

Ìý

1,053

Ìý

Ìý

Ìý

991

Ìý

Ìý

Total liabilities

Ìý

Ìý

19,186

Ìý

Ìý

Ìý

19,591

Ìý

Ìý

EQUITY:

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

SemiLEDs stockholders� equity

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Common stock

Ìý

Ìý

�

Ìý

Ìý

Ìý

�

Ìý

Ìý

Additional paid-in capital

Ìý

Ìý

188,928

Ìý

Ìý

Ìý

188,913

Ìý

Ìý

Accumulated other comprehensive income

Ìý

Ìý

3,683

Ìý

Ìý

Ìý

3,522

Ìý

Ìý

Accumulated deficit

Ìý

Ìý

(188,617

)

Ìý

Ìý

(188,840

)

Ìý

Total SemiLEDs stockholders' equity

Ìý

Ìý

3,994

Ìý

Ìý

Ìý

3,595

Ìý

Ìý

TOTAL LIABILITIES AND EQUITY

Ìý

$

23,180

Ìý

Ìý

$

23,186

Ìý

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

Ìý

May 31,

Ìý

Ìý

February 28,

Ìý

Ìý

Ìý

Ìý

2025

Ìý

Ìý

2025

Ìý

Ìý

Revenues, net

Ìý

$

17,651

Ìý

Ìý

$

10,872

Ìý

Ìý

Cost of revenues

Ìý

Ìý

16,712

Ìý

Ìý

Ìý

9,869

Ìý

Ìý

Gross profit

Ìý

Ìý

939

Ìý

Ìý

Ìý

1,003

Ìý

Ìý

Operating expenses:

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Research and development

Ìý

Ìý

292

Ìý

Ìý

Ìý

279

Ìý

Ìý

Selling, general and administrative

Ìý

Ìý

709

Ìý

Ìý

Ìý

614

Ìý

Ìý

Total operating expenses

Ìý

Ìý

1,001

Ìý

Ìý

Ìý

893

Ìý

Ìý

(Loss) income from operations

Ìý

Ìý

(62

)

Ìý

Ìý

110

Ìý

Ìý

Other income (expenses):

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Investment loss from unconsolidated entities

Ìý

Ìý

(9

)

Ìý

Ìý

(10

)

Ìý

Interest expenses, net

Ìý

Ìý

(20

)

Ìý

Ìý

(42

)

Ìý

Other income, net

Ìý

Ìý

266

Ìý

Ìý

Ìý

265

Ìý

Ìý

Foreign currency transaction gain, net

Ìý

Ìý

48

Ìý

Ìý

Ìý

65

Ìý

Ìý

Total other income, net

Ìý

Ìý

285

Ìý

Ìý

Ìý

278

Ìý

Ìý

Income before income taxes

Ìý

Ìý

223

Ìý

Ìý

Ìý

388

Ìý

Ìý

Income tax expense

Ìý

Ìý

�

Ìý

Ìý

Ìý

�

Ìý

Ìý

Net income

Ìý

$

223

Ìý

Ìý

$

388

Ìý

Ìý

Net income per share attributable to SemiLEDs stockholders:

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Basic and diluted

Ìý

$

0.03

Ìý

Ìý

$

0.05

Ìý

Ìý

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

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Basic and diluted

Ìý

Ìý

7,232

Ìý

Ìý

Ìý

7,222

Ìý

Ìý

Ìý

Christopher Lee

Chief Financial Officer

SemiLEDs Corporation

+886-37-586788

[email protected]

Source: SemiLEDs Corporation

Semileds Corp

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