Q125 consolidated revenue US$126.23 million, compared with US$121.28 million in the year-ago quarter
Q125 consolidated net income US$20.19 million; Basic and Fully diluted after-tax EPS US$0.25 (NT$8.38) and US$0.25 (NT$8.33), respectively
SAN JOSE, Calif., April 23, 2025--(BUSINESS WIRE)--Parade Technologies, Ltd. (Taipei Exchange: 4966.TWO), a leading high-speed interface IC supplier, today announced financial results for the first quarter fiscal year 2025 ended March 31, 2025, and provided guidance for the second quarter of fiscal year 2025.
Consolidated revenue was US$126.23 million and consolidated net income was US$20.19 million. Basic and fully diluted after-tax earnings per share ("EPS") were US$0.25 (NT$8.38) and US$0.25 (NT$8.33), respectively. These results compared to consolidated revenue US$121.28 million and consolidated net income of US$18.21 million, or US$0.23 (NT$7.21) and US$0.23 (NT$7.17) per basic and fully diluted share, in the year-ago quarter.
In US dollars, the first quarter of 2025 consolidated revenue decreased 0.93% sequentially and was up 4.08% year-over-year.
The gross profit in the first quarter of 2025 was US$53.72 million, representing a decrease of 0.07% from the previous quarter and an increase of 3.40% compared to the same quarter of last year.
On March 9, 2025, Parade and Spectra7, a Canadian analog semiconductor company, announced that they have entered into a definitive agreement under which Parade will acquire the majority of Spectra7’s assets. These assets include intellectual property (IP), products, designs, inventory, and other specified items. With the purchase of the majority of Spectra7’s assets, Parade is positioned to further strengthen its global leadership in high-speed connectivity solutions. The purchase will enable Parade to both continue marketing Spectra7’s existing advanced active cable product portfolio and to leverage Spectra7’s technology in new high speed solutions. Parade anticipates that Spectra7’s cutting-edge SiGe-technology, achieving data speeds of 112 Gbps and higher, will provide valuable support for Parade’s efforts to expand into high-growth markets such as data centers, AI-powered computing, and next-generation consumer electronics. In addition, as part of the acquisition, a significant number of Spectra7’s employees will join Parade, ensuring continuity of technical expertise and customer support. This strategic purchase will further empower Parade’s ongoing efforts to deliver faster, more energy-efficient signal integrity connectivity solutions that meet the evolving demands of today’s data-driven world.
Based on current business outlook, Parade is providing the following guidance for the second quarter of fiscal 2025:
Revenue: US$121.0 ~134.0 Million
Gross Margin: 42% ~46%
Operating Expense: US$32.0 ~35.0 Million
The actual demand in Q2 will be impacted by tariff situation which is hard to predict
The financial figures detailed above for the first quarter of 2025 have been reviewed by independent accountants.
About Parade Technologies, Ltd.
Parade Technologies, Ltd. is a leading supplier of mixed-signal ICs for a variety of popular display and high-speed interface standards used in computers, consumer electronics and display panels. The fabless semiconductor company was founded in 2005 and publicly listed on Taipei Exchange ("TPEx") in 2011 (stock code: 4966). Parade’s portfolio of IC products serves the growing demand for HDMI™, DisplayPort™, SATA, and USB ICs for display, storage and interface applications.
In addition to being a technology innovator, Parade is an active participant and leader in industry standards-setting organizations. Parade Technologies, Inc., a wholly owned US-based subsidiary of Parade Technologies, Ltd., is a member of VESA (Video Electronics Standard Association). Parade Technologies, Inc. has made key contributions to the development of VESA’s DisplayPort™ digital video interface standard.
Parade leverages its close relationships with market leading Tier-1 OEMs to develop ICs that provide unique system capabilities. Many of the company’s devices integrate proprietary technologies that offer superior system signal integrity, advanced system integration and enhanced power efficiency. As a result of the company’s "standards-plus" design philosophy, Parade ICs have been designed into products offered by nearly every leading computer and display vendor worldwide.
Parade Technologies, Ltd. and Subsidiaries.
The reader is advised that these consolidated financial statements have been prepared originally in NT$ and conformed with the adoption of IFRSs. In the event of any differences between NT$ and US$ version, the NT$ version shall prevail.
UNAUDITED CONSOLIDATED INCOME STATEMENTS
USD in Thousands
NTD in Thousands
Sequential Quarter
Three Months ended
Sequential Quarter
Three Months ended
Mar 31,
Dec 31,
Mar 31,
Mar 31,
Mar 31,
Dec 31,
Mar 31,
Mar 31,
2025
2024
2025
2024
2025
2024
2025
2024
Revenue
126,227
127,413
126,227
121,278
4,151,599
4,120,533
4,151,599
3,814,192
Cost of goods sold
72,505
73,651
72,505
69,321
2,384,682
2,381,895
2,384,682
2,180,148
Gross profit
53,722
53,762
53,722
51,957
1,766,917
1,738,638
1,766,917
1,634,044
Research & development expenses
22,622
21,983
22,622
22,845
744,030
710,934
744,030
718,474
Sales & marketing expenses
6,384
6,492
6,384
7,413
209,969
209,940
209,969
233,130
General & administrative expenses
4,732
4,727
4,732
5,078
155,652
152,869
155,652
159,691
Total operating expenses
33,738
33,202
33,738
35,336
1,109,651
1,073,743
1,109,651
1,111,295
Operating income
19,984
20,560
19,984
16,621
657,266
664,895
657,266
522,749
Non-operating income
2,149
2,586
2,149
2,527
70,673
83,646
70,673
79,477
Income before income taxes
22,133
23,146
22,133
19,148
727,939
748,541
727,939
602,226
Income tax expense
1,941
1,842
1,941
937
63,838
59,574
63,838
29,477
Net income
20,192
21,304
20,192
18,211
664,101
688,967
664,101
572,749
EPS - Basic (In Dollar)
$0.25
$0.27
$0.25
$0.23
$8.38
$8.69
$8.38
$7.21
Shares used in computing EPS-Basic (In thousands)
79,290
79,263
79,290
79,483
79,290
79,263
79,290
79,483
EPS - Diluted (In Dollar)
$0.25
$0.27
$0.25
$0.23
$8.33
$8.66
$8.33
$7.17
Shares used in computing EPS-Diluted (In thousands)
79,727
79,541
79,727
79,850
79,727
79,541
79,727
79,850
UNAUDITED CONSOLIDATED BALANCE SHEETS
As of March 31, 2025 and 2024
USD in Thousands
NTD in Thousands
Mar 31,
Mar 31,
Mar 31,
Mar 31,
2025
2024
2025
2024
Current assets
Cash & cash equivalents
290,422
290,654
9,644,907
9,300,922
Accounts receivable, net
47,047
47,187
1,562,436
1,509,969
Inventories, net
117,316
118,948
3,896,071
3,806,334
Other current assets
20,094
19,981
667,325
639,409
Total current assets
474,879
476,770
15,770,739
15,256,634
Non-current assets
Property, plant and equipment, net
10,043
12,435
333,520
397,929
Right-of-use assets
8,955
8,354
297,393
267,320
Intangible assets
103,913
101,152
3,450,916
3,236,859
Deferred income tax assets
12,117
12,479
402,417
399,322
Other non-current assets
148,655
154,214
4,936,846
4,934,861
Total non-current assets
283,683
288,634
9,421,092
9,236,291
Total Assets
758,562
765,404
25,191,831
24,492,925
Current Liabilities
Accounts payable
42,238
45,116
1,402,714
1,443,712
Other payables
22,342
22,201
741,973
710,430
Current income tax liabilities
11,606
10,705
385,458
342,556
Lease liabilities - current
3,579
3,278
118,873
104,906
Other current liabilities
6,700
6,956
222,498
222,605
Total current liabilities
86,465
88,256
2,871,516
2,824,209
Non-current Liabilities
Lease liabilities - non-current
5,375
5,076
178,520
162,414
Total non-current liabilities
5,375
5,076
178,520
162,414
Equity
Ordinary shares
26,730
26,731
811,600
811,627
Capital reserves
134,400
138,078
4,135,700
4,222,226
Retained earnings
590,818
544,970
17,663,439
16,174,349
Other equity
(3,997
)
(5,514
)
2,174,846
1,313,487
Treasury shares
(81,229
)
(32,193
)
(2,643,790
)
(1,015,387
)
Total equity
666,722
672,072
22,141,795
21,506,302
Total liabilities and equity
758,562
765,404
25,191,831
24,492,925
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
For three months ended March 31, 2025 and 2024
USD in Thousands
NTD in Thousands
Mar 31,
Mar 31,
Mar 31,
Mar 31,
2025
2024
2025
2024
Cash flows from operating activities
Income before income tax for the period
22,133
19,149
727,939
602,226
Depreciation and amortization (including the right-of-use assets)
6,149
5,167
202,257
162,504
Loss on disposal of equipment
-
20
-
628
Loss on disposal of intangible assets
-
54
-
1,703
Share-based compensation cost
5,153
9,190
168,995
285,186
Interest income
(2,061
)
(2,480
)
(67,793
)
(77,998
)
Income and expenses having no effect on cash flows
9,241
11,951
303,459
372,023
Accounts receivable
664
6,917
22,058
221,335
Inventories
4,143
3,937
137,611
125,979
Other current assets
(6,746
)
(6,538
)
(213,040
)
(192,840
)
Net changes in assets relating to operating activities
(1,939
)
4,316
(53,371
)
154,474
Accounts payable
1,950
(5,911
)
64,755
(189,160
)
Accrued expenses
(10,326
)
(9,836
)
(342,933
)
(314,754
)
Other current liabilities
800
(125
)
26,571
(3,998
)
Net changes in liabilities relating to operating activities
(7,576
)
(15,872
)
(251,607
)
(507,912
)
Cash inflow generated from operations
21,859
19,544
726,420
620,811
Interest received
2,061
2,480
67,793
77,998
Income tax paid
(1,485
)
(1,279
)
(48,843
)
(40,223
)
Net cash provided by operating activities
22,435
20,745
745,370
658,586
Cash flows from investing activities
Acquisition of equipment
(952
)
(1,412
)
(31,311
)
(44,404
)
Acquisition of intangible assets
(110
)
(18
)
(3,608
)
(585
)
Decrease in refundable deposits
3,350
1,846
111,258
59,085
Increase in other prepayments
(2,914
)
(5,776
)
(95,848
)
(181,650
)
Net cash flows used in investing activities
(626
)
(5,360
)
(19,509
)
(167,554
)
Cash flows from financing activities
Distribution of cash dividends
(17,896
)
(12,800
)
(570,088
)
(390,871
)
Repayment of the principal portion of lease liabilities
(915
)
(807
)
(30,081
)
(25,393
)
Purchase of treasury shares
(45,790
)
-
(1,497,643
)
-
Treasury shares reissued to employees
11,408
12,468
365,679
378,062
Cash dividend regain from canceled share-based compensation
5
3
146
84
Net cash flows used in financing activities
(53,188
)
(1,136
)
(1,731,987
)
(38,118
)
Effect of exchange rate changes
608
26
119,131
360,407
Net (decrease) increase in cash and cash equivalents
