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Diodes Incorporated Reports First Quarter Fiscal 2025 Financial Results
Exceeds 1Q Revenue Expectations Growing 10% YoY with Strong Growth Anticipated in 2Q PLANO, Texas--(BUSINESS WIRE)-- Diodes Incorporated (Diodes) (Nasdaq:
About this update from Diodes Incorporated
[{"type":"text","content":"\nExceeds 1Q Revenue Expectations Growing 10% YoY with Strong Growth Anticipated in 2Q\n\n PLANO, Texas--(BUSINESS WIRE)--\nDiodes Incorporated (Diodes) (Nasdaq: DIOD) today reported its financial results for the first quarter ended March 31, 2025.\n\nFirst Quarter Highlights\n\n\nRevenue was $332.1 million, compared to $302.0 million in the first quarter 2024 and $339.3 million in the prior quarter;\n\n\nGAAP gross profit was $104.7 million, compared to $99.6 million in the same quarter a year ago and $110.9 million in the prior quarter;\n\n\nGAAP gross profit margin was 31.5 percent, compared to 33.0 percent in the first quarter of 2024 and 32.7 percent in the prior quarter;\n\n\nGAAP net loss was $4.4 million, compared to GAAP net income of $14.0 million in the same quarter a year ago and GAAP net income of $8.2 million last quarter;\n\n\nNon-GAAP adjusted net income was $8.8 million, compared to $13.0 million in the same quarter a year ago and $12.5 million in the prior quarter;\n\n\nGAAP loss per share was $0.10 per diluted share, compared to GAAP EPS of $0.30 per diluted share in the first quarter of 2024 and GAAP EPS $0.18 per diluted share in the prior quarter;\n\n\nNon-GAAP EPS was $0.19 per diluted share, compared to $0.28 per diluted share in the same quarter a year ago and $0.27 per diluted share in the prior quarter;\n\n\nExcluding $5.0 million, net of tax, non-cash share-based compensation expense, both GAAP net loss and non-GAAP adjusted net income would have increased by $0.11 per diluted share;\n\n\nEBITDA was $26.2 million, or 7.9 percent of revenue, compared to $48.3 million, or 16.0 percent of revenue during the same quarter last year and $40.7 million, or 12.0 percent of revenue in the prior quarter; and\n\n\nAchieved $56.7 million cash flow from operations and $40.8 million of free cash flow, including $15.9 million of capital expenditures. Net cash flow was a positive $26.2 million.\n\n\nCommenting on the results, Gary Yu, President of Diodes, stated, “We delivered another quarter of year-over-year growth, achieving 10% as the recovery in our target end markets continues to improve. First quarter revenue exceeded our expectations due to better than seasonal performance in the computing market in Asia, primarily driven by increasing opportunities for Diodes’ products in AI-related applications. Additionally...