American Superconductor (AMSC) investor relations material

Executive summary

• Revenue grew 80% year-over-year to $72.4M, driven by organic growth and the NWL acquisition, with strong demand in materials and semiconductor sectors.

• Net income reached $6.7M, or $0.17 per share, reversing a prior year loss and marking the fourth consecutive quarter of profitability.

• Gross margin reached 34%, an all-time high, attributed to favorable product mix, pricing, and increased factory utilization.

• Grid segment contributed 83% of revenue, with Wind at 17%, both segments showing strong year-over-year growth.

• Cash position strengthened to $213.4M, bolstered by a $124.6M public equity offering.

Financial highlights

• Revenue for the quarter was $72.4M, up from $40.3M in the prior year quarter.

• Gross margin improved to 34% from 30% a year ago.

• Net income was $6.7M (GAAP) or $0.17 per share, compared to a net loss of $2.5M or $0.07 per share last year.

• Non-GAAP net income reached $11.6M or $0.30 per share, up from $3M or $0.09 per share year-over-year.

• Operating income was $5.6M, up from a $3.3M loss in the prior year quarter.

Outlook and guidance

• Q2 revenue expected between $65M and $70M, with net income projected to exceed $2M ($0.05 per share) and non-GAAP net income to exceed $6M ($0.14 per share).

• Management remains bullish on sustaining revenue above $65M per quarter and maintaining strong gross margins.

• Outstanding performance obligations total $215.2M to be recognized in the next 12 months.

• Anticipates continued strength in semiconductors, energy, and renewables, with growing opportunities in data centers and India.