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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Year-over-year revenue is up, with stable cash flow and ongoing cost management. Technology upgrades focus on DDR5 and HBM, while market demand is improving in PC and mobile segments. Corporate governance remains strong, and operational adjustments address margin and supply challenges.
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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.