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Espressif Systems (688018) investor relations material
Espressif Systems Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 revenue rose 33.38% YoY to RMB 889.3m; Q1–Q3 revenue increased 23.94% to RMB 2,370.0m.
Q1–Q3 attributable net income grew 46.76% YoY to RMB 552.9m; excluding non-recurring items, it rose 49.09% to RMB 519.1m.
Earnings growth reflected higher revenue, improved gross margin and expense growth below revenue growth, releasing operating leverage.
Financial highlights
Q3 profit attributable to shareholders was RMB 218.7m, up 89.35% YoY; adjusted profit was RMB 207.5m, up 90.43%.
Q1–Q3 total profit was RMB 577.7m, up 48.22%; attributable net income was RMB 552.9m, up 46.76%.
Q1–Q3 gross profit increased 34.14% YoY to RMB 1,184.3m.
Q1–Q3 operating cash flow was RMB 318.3m, up 2.66% YoY.
Outlook and guidance
Product expansion targets processor, Wi-Fi 6E and low-power applications; sales and ecosystem investment increased to support new products and market reach.
Product roadmap spans connectivity-focused chips through higher-performance AI and compute platforms, including ESP32-P4, ESP32-S31, ESP32-H4 and ESP32-E22.
- H1 2026 revenue up 18.88%, net profit up 27.93%, gross margin at 49.3%.688018
Q2 2026 - Net profit surged 44.76% on 16.16% revenue growth and higher gross margin, despite cash flow pressure.688018
Q1 2026 - Revenue up 40% and net profit up 149% year-over-year, with strong margin and cash dividend proposed.688018
Q4 2024 - Strong year-over-year growth driven by IoT expansion and margin gains, despite Q3 softness.688018
Q3 2025 - H1 2025 revenue up 35%, net income up 72%, with margin gains and robust IoT demand.688018
Q2 2025 - Net income surged 188.1% year-over-year on 42.2% revenue growth and higher margins.688018
Q3 2024 - Espressif's H1 2024 net income surged 135% on 38% revenue growth and higher margins.688018
Q2 2024 - Q1 2025 saw 44% revenue growth and 74% higher net income, with stable margins and strong cash flow.688018
Q1 2025
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