In This Article:
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Revenue: $339.3 million for Q4 2024; $1.3 billion for full year 2024.
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Gross Profit: $110.9 million or 32.7% of revenue for Q4 2024.
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GAAP Net Income: $8.2 million or $0.18 per diluted share for Q4 2024.
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Non-GAAP Adjusted Net Income: $12.5 million or $0.27 per diluted share for Q4 2024.
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EBITDA: $40.7 million or 12% of revenue for Q4 2024.
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Cash Flow from Operations: $81.8 million for Q4 2024.
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Capital Expenditures: $19.7 million for Q4 2024.
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Inventory Days: Approximately 193 days at the end of Q4 2024.
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Automotive and Industrial Revenue Mix: 42% of product revenue for Q4 2024.
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First Quarter 2025 Revenue Guidance: Approximately $323 million, plus or minus 3%.
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First Quarter 2025 Gross Margin Guidance: 32.5% plus or minus 1%.
Release Date: February 11, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Diodes Inc (NASDAQ:DIOD) achieved a 5% year-over-year revenue growth in Q4 2024, marking a return to growth after a multiyear market slowdown.
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The company maintained a strong product mix with automotive and industrial sectors contributing 42% of total product revenue.
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Diodes Inc (NASDAQ:DIOD) introduced 755 new part numbers in 2024, with 330 specifically for the automotive market, increasing addressable content per car by over 30%.
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The company has a strong presence in Asia, with 80% of Q4 revenue coming from the region, and saw double-digit growth in the second half of 2024 compared to 2023.
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Diodes Inc (NASDAQ:DIOD) is well-positioned for growth in AI-related applications, with increased content in AI servers from $53 to $90 per box year-over-year.
Negative Points
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Revenue for the full year 2024 was $1.3 billion, down from $1.7 billion in 2023, indicating a significant decline.
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GAAP net income for Q4 2024 was $8.2 million, a decrease from $25.3 million in the prior year quarter.
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The company is experiencing ongoing inventory rebalancing and demand challenges in the automotive and industrial markets, which may persist into 2025.
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Gross profit margin decreased to 32.7% in Q4 2024 from 34.9% in the prior year quarter.
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Diodes Inc (NASDAQ:DIOD) reported a negative net cash flow of $2.4 million for Q4 2024, including a net paydown of $3.8 million of total debt.
Q & A Highlights
Q: Can you provide insights into the seasonality and demand trends in China, particularly regarding the automotive and industrial sectors? A: The Chinese New Year impact was within expectations, with some customers having extended shutdowns. We guided a 4.8% decrease for Q1, which is slightly better than usual seasonality. The automotive and industrial sectors are still undergoing inventory rebalancing, especially in Europe, but we are focusing on content expansion and market share gains.