Taiwan · Delayed Price · Currency is TWD Nanya Technology Earnings Call Transcripts
Fiscal Year 2026
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Q2 2026 saw a 68% revenue surge and record margins, driven by a 60% ASP increase while shipments stayed flat. Strong cash flow and a private placement boosted liquidity, with AI infrastructure now over 20% of revenue. Outlook remains positive as supply tightness persists.
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Q1 2026 saw a 63% sequential and 583% year-over-year revenue surge, driven by over 70% ASP growth and robust AI/cloud demand. Net margin reached 53.1%, with high gross margins expected to persist, and major CapEx allocated to new FAB construction.
Fiscal Year 2025
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Q4 2025 saw a 60% sequential and 357% year-over-year revenue surge, with gross margin at 49% and net margin at 36.8%. Full-year revenue nearly doubled, driven by higher ASP and shipments, while strong cash flow and a robust net cash position support major CapEx plans for 2026.
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Q3 2025 saw a sharp turnaround to profitability, with revenue up 78% sequentially and strong gross and net margins. DDR4 and low power DDR4 led revenue, while capacity constraints limit shipment growth until 2027. Positive outlook driven by AI and cloud demand.
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Q2 2025 saw a 46% revenue jump and 70% bit shipment growth, but losses deepened due to lower ASP and FX headwinds. DDR4 and low-power DDR4 led shipments, with 1B node technology ramping up. Gross margin is expected to turn positive in Q3 as market conditions improve.
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Q1 saw a 9.3% revenue increase but a wider net loss due to technology migration costs. Full-year shipment growth guidance was raised to 30% as AI and inventory reduction drive demand, with break-even targeted by Q3. Tariff uncertainties remain a key risk.
Fiscal Year 2024
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Q4 2024 saw a 19.2% sequential revenue decline and continued losses, but full-year sales rose 14.2% year-over-year. DDR5 production ramped up, with over 20% output now and a 30%+ target for 2025. Market recovery for non-AI DRAM is expected in the second half of 2025.
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Q3 revenue fell 18% sequentially due to shipment declines, with a net loss of TWD 1.487 billion, impacted by a power outage. DDR5 ramp-up is underway, with significant ASP and margin improvement expected in Q1 2025 as legacy DRAM pricing remains weak.
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Q2 2024 saw revenue and gross margin improvements, with net loss narrowed after adjusting for earthquake-related costs. ASPs and shipments are expected to rise in H2, driven by AI and DDR5 demand, though operating margin recovery remains challenging.