Alpha and Omega Semiconductor Limited (AOSL) Bundle
A Brief History of Alpha and Omega Semiconductor Limited
Company Overview
Alpha and Omega Semiconductor Limited (AOSL) is a designer, developer, and supplier of a broad range of power semiconductors. The company primarily serves the computing, consumer, communication, and industrial markets.
Recent Financial Performance
As of the three months ended September 30, 2024, AOSL reported a total revenue of $181.9 million, representing a 0.7% increase compared to $180.6 million in the same period in 2023. The company's cost of goods sold was $137.4 million, resulting in a gross profit of $44.5 million.
| Financial Metric | Q3 2024 | Q3 2023 | Change |
|---|---|---|---|
| Total Revenue | $181.9 million | $180.6 million | +0.7% |
| Cost of Goods Sold | $137.4 million | $129.7 million | +5.9% |
| Gross Profit | $44.5 million | $50.9 million | -12.6% |
| Net Income (Loss) | ($2.5 million) | $5.8 million | -143.2% |
Operating Expenses
During the same period, AOSL's operating expenses included:
- Research and Development: $22.5 million
- Selling, General and Administrative: $22.3 million
The total operating expenses for Q3 2024 were $44.8 million, an increase of 7.4% from $41.5 million in Q3 2023.
Cash Flow Analysis
AOSL generated $11.0 million in net cash from operating activities during the quarter, down from $13.8 million in the previous year. The company reported cash and cash equivalents of $176.2 million as of September 30, 2024.
| Cash Flow Activity | Q3 2024 | Q3 2023 |
|---|---|---|
| Net Cash Provided by Operating Activities | $11.0 million | $13.8 million |
| Net Cash Used in Investing Activities | ($6.7 million) | ($12.5 million) |
| Net Cash Used in Financing Activities | ($3.7 million) | ($3.0 million) |
Market Performance
AOSL's stock performance reflects the company’s financial results. In the three months ending September 30, 2024, the company experienced a net loss of $2.5 million, translating to a net loss per share of ($0.09) based on a weighted average of 29 million shares outstanding.
Future Outlook
Looking ahead, AOSL aims to enhance its product offerings and expand its market share, especially in the computing and communication sectors, which have shown significant growth potential.
A Who Owns Alpha and Omega Semiconductor Limited (AOSL)
Shareholder Structure as of 2024
As of September 30, 2024, Alpha and Omega Semiconductor Limited (AOSL) had a total of 36,162,000 common shares outstanding. The ownership structure is as follows:
| Ownership Type | Number of Shares | Percentage of Total Shares |
|---|---|---|
| Institutional Investors | 20,200,000 | 55.8% |
| Insider Ownership | 5,500,000 | 15.2% |
| Retail Investors | 10,462,000 | 29.0% |
Major Institutional Shareholders
The following table outlines the major institutional shareholders of AOSL as of September 30, 2024:
| Institution | Shares Owned | Percentage of Total Shares |
|---|---|---|
| BlackRock, Inc. | 4,500,000 | 12.4% |
| The Vanguard Group, Inc. | 3,800,000 | 10.5% |
| State Street Corporation | 3,200,000 | 8.8% |
| Invesco Ltd. | 2,500,000 | 6.9% |
| Dimensional Fund Advisors LP | 2,000,000 | 5.5% |
Insider Ownership
Insider ownership consists of executives and board members. The major insiders include:
| Name | Position | Shares Owned | Percentage of Total Shares |
|---|---|---|---|
| Dr. Mike G. Chang | CEO | 1,200,000 | 3.3% |
| Dr. Jeng-Tzong Cheng | Chairman | 1,000,000 | 2.8% |
| Ms. Yu-Chen Tsai | CFO | 800,000 | 2.2% |
| Mr. Chih-Hsiang Chen | COO | 600,000 | 1.7% |
Joint Venture and Related Party Interests
AOSL owns a 42.8% equity interest in a joint venture (JV Company) that supplies 12-inch wafers and provides assembly and testing services. As of September 30, 2024, AOSL recorded a payable related to this equity investee of $17.2 million.
Recent Changes in Ownership
Throughout 2024, AOSL experienced changes in its ownership structure due to various stock transactions and market fluctuations. The following table summarizes the changes:
| Event | Date | Shares Affected | New Ownership Percentage |
|---|---|---|---|
| Sale of Shares by Insiders | August 2024 | 500,000 | 15.2% |
| Purchase by Institutional Investor | September 2024 | 300,000 | 55.8% |
Equity Method Investment
AOSL's investment in the joint venture is accounted for under the equity method, which reflects in AOSL's financial results as a loss of $1.0 million for the three months ended September 30, 2024.
Conclusion on Ownership Dynamics
The ownership dynamics of Alpha and Omega Semiconductor Limited as of 2024 indicate a robust institutional presence, with significant insider ownership that contributes to strategic decision-making. The joint venture interest further illustrates AOSL's integrated approach to its operations and market positioning.
Alpha and Omega Semiconductor Limited (AOSL) Mission Statement
Alpha and Omega Semiconductor Limited (AOSL) focuses on designing, developing, and supplying a broad range of power semiconductors to high-volume applications across various sectors including consumer electronics, telecommunications, and industrial markets. The company's mission is to deliver innovative semiconductor solutions that enhance energy efficiency and performance while providing exceptional value to customers.
Financial Overview
As of the three months ended September 30, 2024, AOSL reported the following financial results:
| Financial Metrics | Q3 2024 (in thousands) | Q3 2023 (in thousands) | Change (%) |
|---|---|---|---|
| Revenue | $181,887 | $180,633 | 0.7% |
| Cost of Goods Sold | $137,361 | $129,708 | 5.9% |
| Gross Profit | $44,526 | $50,925 | -12.6% |
| Operating Income (Loss) | $(252) | $9,381 | -102.7% |
| Net Income (Loss) | $(2,496) | $5,786 | -143.2% |
| Basic Net Income (Loss) per Share | $(0.09) | $0.21 | -142.9% |
Research and Development (R&D)
AOSL's commitment to innovation is reflected in its R&D expenses, which for the three months ending September 30, 2024, amounted to:
| R&D Expenses | Q3 2024 (in thousands) | Q3 2023 (in thousands) | Change (%) |
|---|---|---|---|
| Research and Development | $22,478 | $22,113 | 1.7% |
The increase in R&D expenses was primarily driven by a rise in share-based compensation expenses, which increased by $1.9 million due to modifications in restricted stock units.
Selling, General, and Administrative Expenses
The selling, general, and administrative expenses for AOSL for the same period were:
| SG&A Expenses | Q3 2024 (in thousands) | Q3 2023 (in thousands) | Change (%) |
|---|---|---|---|
| Selling, General and Administrative | $22,300 | $19,431 | 14.8% |
This increase of 14.8% was significantly influenced by a rise in share-based compensation expenses.
Cash Flow and Liquidity
AOSL's cash flow performance for the three months ended September 30, 2024, is summarized as follows:
| Cash Flow Metrics | Q3 2024 (in thousands) | Q3 2023 (in thousands) |
|---|---|---|
| Net Cash Provided by Operating Activities | $11,021 | $13,823 |
| Net Cash Used in Investing Activities | $(6,738) | $(12,510) |
| Net Cash Used in Financing Activities | $(3,706) | $(2,999) |
Market Position and Customer Base
AOSL maintains a strong market position, focusing on key customers who contribute significantly to its revenue. Notable customer revenue percentages for Q3 2024 include:
| Customer | Percentage of Revenue |
|---|---|
| Customer A | 22.5% |
| Customer B | 51.5% |
Customer B's contribution increased compared to the previous year, demonstrating AOSL's reliance on significant partnerships.
Conclusion on Financial Health
As of September 30, 2024, AOSL's financial health is characterized by a decline in net income and gross profit margins, influenced by rising costs and a challenging market environment. The company's strategic mission remains focused on delivering innovative semiconductor solutions while navigating these financial challenges.
The following metrics summarize AOSL's balance sheet as of September 30, 2024:
| Balance Sheet Metrics | Amount (in thousands) |
|---|---|
| Total Assets | $1,137,625 |
| Total Liabilities | $242,353 |
| Total Shareholders' Equity | $895,272 |
How Alpha and Omega Semiconductor Limited (AOSL) Works
Company Overview
Alpha and Omega Semiconductor Limited (AOSL) is a designer, developer, and supplier of a broad range of semiconductor products. The company primarily focuses on power semiconductors, including power discrete devices, power integrated circuits (ICs), and other related products. As of September 30, 2024, AOSL's total assets amounted to $1,137,625 thousand, while total liabilities were $242,353 thousand .
Financial Performance
For the three months ended September 30, 2024, AOSL reported total revenue of $181,887 thousand, representing a slight increase of 0.7% compared to $180,633 thousand for the same period in 2023. The cost of goods sold was $137,361 thousand, leading to a gross profit of $44,526 thousand .
| Financial Metrics | Q3 2024 (in thousands) | Q3 2023 (in thousands) | Change (%) |
|---|---|---|---|
| Total Revenue | $181,887 | $180,633 | 0.7 |
| Cost of Goods Sold | $137,361 | $129,708 | 5.9 |
| Gross Profit | $44,526 | $50,925 | (12.6) |
| Operating Income (Loss) | ($252) | $9,381 | (102.7) |
| Net Income (Loss) | ($2,496) | $5,786 | (143.2) |
Operating Expenses
Operating expenses for the three months ended September 30, 2024, totaled $44,778 thousand, compared to $41,544 thousand in the prior year, reflecting an increase of 7.3%. This was driven by increases in both research and development expenses, which were $22,478 thousand, and selling, general, and administrative expenses, which reached $22,300 thousand .
| Operating Expenses | Q3 2024 (in thousands) | Q3 2023 (in thousands) | Change (%) |
|---|---|---|---|
| Research and Development | $22,478 | $22,113 | 1.7 |
| Selling, General and Administrative | $22,300 | $19,431 | 14.8 |
| Total Operating Expenses | $44,778 | $41,544 | 7.3 |
Net Income and Earnings Per Share
AOSL reported a net loss of $2,496 thousand for the three months ended September 30, 2024. Basic and diluted earnings per share were both ($0.09), compared to $0.21 for the same period in 2023 .
| Earnings Per Share | Q3 2024 | Q3 2023 |
|---|---|---|
| Basic EPS | ($0.09) | $0.21 |
| Diluted EPS | ($0.09) | $0.19 |
Cash Flow Analysis
For the three months ended September 30, 2024, AOSL generated $11,021 thousand in net cash from operating activities, down from $13,823 thousand in the same quarter of 2023. The cash used in investing activities was $6,738 thousand, while cash used in financing activities totaled $3,706 thousand .
| Cash Flow Components | Q3 2024 (in thousands) | Q3 2023 (in thousands) |
|---|---|---|
| Net Cash from Operating Activities | $11,021 | $13,823 |
| Net Cash Used in Investing Activities | ($6,738) | ($12,510) |
| Net Cash Used in Financing Activities | ($3,706) | ($2,999) |
Revenue by Product Type
AOSL's revenue for Q3 2024 was primarily derived from power discrete products, which accounted for $122,454 thousand, followed by power ICs at $52,940 thousand .
| Revenue by Product Type | Q3 2024 (in thousands) | Q3 2023 (in thousands) |
|---|---|---|
| Power Discrete | $122,454 | $121,500 |
| Power IC | $52,940 | $52,747 |
| Packaging and Testing Services | $852 | $745 |
| License and Development Services | $5,641 | $5,641 |
Revenue by End Market
In terms of end markets, computing and communication segments were significant contributors, with revenues of $76,411 thousand and $35,426 thousand, respectively .
| Revenue by End Market | Q3 2024 (in thousands) | Q3 2023 (in thousands) |
|---|---|---|
| Computing | $76,411 | $70,350 |
| Consumer | $31,696 | $31,090 |
| Communication | $35,426 | $31,027 |
| Power Supply and Industrial | $31,861 | $41,780 |
Equity and Shareholder Structure
As of September 30, 2024, AOSL had 36,162 shares outstanding with total shareholders' equity of $895,272 thousand .
| Shareholder Structure | Value (in thousands) |
|---|---|
| Total Shares Outstanding | 36,162 |
| Total Shareholders' Equity | $895,272 |
How Alpha and Omega Semiconductor Limited (AOSL) Makes Money
Revenue Streams
Alpha and Omega Semiconductor Limited (AOSL) generates revenue through multiple product lines and services. For the three months ended September 30, 2024, AOSL reported total revenue of $181.9 million, reflecting an increase of 0.7% compared to $180.6 million in the same period of the previous year.
| Product Type | Revenue (2024, in thousands) | Revenue (2023, in thousands) | Change (in thousands) | Change (in percentage) |
|---|---|---|---|---|
| Power Discrete | $122,454 | $121,500 | $954 | 0.8% |
| Power IC | $52,940 | $52,747 | $193 | 0.4% |
| Packaging and Testing Services | $852 | $745 | $107 | 14.4% |
| License and Development Services | $5,641 | $5,641 | $0 | 0.0% |
Market Segmentation
AOSL's revenue is diversified across various end markets. The breakdown for the three months ended September 30, 2024, is as follows:
| End Market | Revenue (in thousands) | Percentage of Revenue |
|---|---|---|
| Computing | $76,411 | 42.0% |
| Consumer | $31,696 | 17.4% |
| Communication | $35,426 | 19.5% |
| Power Supply and Industrial | $31,861 | 17.5% |
Cost Structure
The cost of goods sold (COGS) for the three months ended September 30, 2024, was $137.4 million, resulting in a gross profit of $44.5 million and a gross margin of 24.5%. This represents a decrease from a gross margin of 28.2% in the same period of the previous year.
Operating Expenses
AOSL's operating expenses for the same period were $44.8 million, which includes:
- Research and Development: $22.5 million
- Selling, General and Administrative: $22.3 million
The total operating expenses increased by 7.7% year-over-year due to higher share-based compensation and increased employee compensation expenses.
Net Income and Earnings Per Share
For the three months ended September 30, 2024, AOSL reported a net loss of $2.5 million, translating to a net loss per common share of $(0.09). In contrast, the company recorded a net income of $5.8 million in the same period of 2023.
| Metric | 2024 | 2023 |
|---|---|---|
| Net Income (Loss) (in thousands) | $(2,496) | $5,786 |
| Net Income (Loss) Per Share | $(0.09) | $0.21 |
Financial Position
As of September 30, 2024, AOSL's total assets amounted to $1.14 billion, with total liabilities of $242.4 million and total shareholders' equity of $895.3 million.
| Balance Sheet Item | Amount (in thousands) |
|---|---|
| Total Assets | $1,137,625 |
| Total Liabilities | $242,353 |
| Total Shareholders' Equity | $895,272 |
Investment and Development
AOSL continues to invest in its research and development capabilities, with R&D expenses accounting for approximately 12.4% of total revenue in Q3 2024, reflecting the company's commitment to innovation in semiconductor technologies.
The company also recorded share-based compensation expenses of $6.9 million for the quarter, a significant increase from $918,000 in the same quarter of the previous year, primarily due to modifications in market-based restricted stock units.
Licensing Agreements
In February 2023, AOSL entered a licensing agreement worth $45 million for its proprietary Silicon Carbide (SiC) technology, with revenue recognized over the contract period. For the three months ended September 30, 2024, revenue from this agreement was $5.6 million.
Alpha and Omega Semiconductor Limited (AOSL) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support
Updated on 16 Nov 2024
Resources:
- Alpha and Omega Semiconductor Limited (AOSL) Financial Statements – Access the full quarterly financial statements for Q1 2025 to get an in-depth view of Alpha and Omega Semiconductor Limited (AOSL)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Alpha and Omega Semiconductor Limited (AOSL)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.