Taiwan · Delayed Price · Currency is TWD WIN Semiconductors Earnings Call Transcripts
Fiscal Year 2025
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Q4 2025 saw strong revenue and margin growth, driven by a favorable product mix and expansion into infrastructure, AI, and optical segments. Full-year revenue declined slightly, but margins improved. Q1 2026 is expected to be seasonally weaker, with lower revenue and gross margin.
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Q3 2025 saw a strong rebound with 19% QoQ revenue growth, improved margins, and a return to profitability, driven by higher utilization and favorable product mix. All segments grew, with optical and infrastructure leading, and Q4 is expected to see continued modest growth.
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Q2 2025 saw a 5.7% QoQ revenue increase but a 23.8% YoY decline, with gross margin improving to 18.5% despite currency headwinds. All segments are expected to grow in Q3, led by optical, as new smartphone launches and AI-related projects drive demand.
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Q1 2025 revenue declined 3.5% sequentially and 20% year-on-year, with gross margin at 16.7% and net profit at TWD 16 million. Q2 is expected to see low-teens revenue growth, led by Wi-Fi and optical segments, despite ongoing tariff uncertainties.
Fiscal Year 2024
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Q4 2024 saw revenue and margins decline due to lower Wi-Fi and Cellular PA demand, but infrastructure and optics segments grew. Full year 2024 revenue rose 10% year-over-year, with strong Gallium Nitride and AI-related opportunities ahead.
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Q3 2024 revenue rose 4% year-over-year but fell 12% sequentially, with gross margin dropping to 21.6% due to lower utilization. Wi-Fi and infrastructure segments showed strong year-over-year growth, while Q4 revenue and margins are expected to decline further.
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Q2 2024 revenue rose 12% quarter-on-quarter and 26% year-on-year, with gross margin up to 27.2% due to higher utilization and improved product mix. Q3 revenue is expected to decline by high single digits, with gross margin guided to the mid-20% range, while full-year revenue is still forecast to grow.