Business
Silvaco Reports Second Quarter 2024 Financial Results
Quarterly revenue of $15.0 million, up 19% year-over-year at the high end of guidance Quarterly bookings of $19.5 million, up 36% year-over-year exceeding
About this update from Silvaco Group, Inc.
[{"type":"text","content":"Quarterly revenue of $15.0 million, up 19% year-over-year at the high end of guidance Quarterly bookings of $19.5 million, up 36% year-over-year exceeding guidance SANTA CLARA, Calif., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Silvaco Group, Inc. (Nasdaq: SVCO, “Silvaco” or the “Company”), a provider of TCAD, EDA software, and SIP solutions that enable semiconductor design and digital twin modeling through AI software and innovation, today announced its second quarter 2024 results. “I am thrilled to announce that Silvaco reported strong financial results for its first quarter as a public company,” said Babak Taheri, Silvaco’s Chief Executive Officer. Dr. Taheri continued, “Our revenue came in at the high end of our guidance, driven by strong demand for our products across various sectors. We believe this momentum will continue into the second half of the year. Moreover, we are seeing growing customer interest in our digital twin product, which is a good sign for our future growth.” Commenting on the financial results and outlook, Ryan Benton, Silvaco’s Chief Financial Officer, added, “Our strong bookings for the second quarter exceeded our expectations, and revenue came in at the high end of our guidance range, driven by strong demand from our customers. For quarterly bookings, we are raising guidance for the full-year and maintaining our revenue guidance for the full-year.” Second Quarter 2024 Financial Results GAAP Financial Results Revenue of $15.0 million, up 19% year-over-year, seasonally down 6% quarter-over-quarter. TCAD revenue of $10.4 million, up 34% year-over-year.EDA revenue of $3.0 million, up 20% year-over-year.SIP revenue of $1.6 million, down 30% year-over-year. GAAP gross profit and GAAP gross margin were $10.1 million and 68%, respectively, which includes the impact of $2.5 million stock-based compensation, down from $10.2 million and 81% year over year.GAAP operating expenses of $47.9 million, which includes $19.3 million stock-based compensation and a $14.7 million charge for acquisition related estimated litigation claim, increased from $10.4 million in Q2 2023.GAAP operating loss and margin of $(37.8) million and (253)%, compared to $(0.2) million and (2)% in Q2 2023, respectively.GAAP net loss of $(38.4) million, compared to a GAAP net loss of $(0.3) million in Q2 2023.GAAP basic and diluted net loss per share of ...