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Espressif Systems (688018) investor relations material
Espressif Systems Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Revenue for H1 2025 reached ¥1,245.54 million, up 35.35% year-over-year, driven by digitalization and new customer ramp-up.
Net profit attributable to shareholders was ¥261.26 million, up 72.29% year-over-year, with adjusted net profit (excluding share-based payments) at ¥280.05 million, up 67.72%.
Gross margin improved by 2 percentage points to 45.2%, with gross profit up 41.65% year-over-year.
R&D investment was ¥268.24 million, up 22.66% year-over-year, representing 21.54% of revenue.
Operating cash flow turned positive to ¥114.42 million from a net outflow last year.
Financial highlights
EBITDA margin rose to 23.2% from 17.8% year-over-year.
Basic and diluted EPS were ¥1.6868, up 30.36% year-over-year.
Net assets attributable to shareholders increased 13.08% to ¥2,431.19 million.
Total assets grew 21.45% to ¥3,217.70 million.
Non-recurring gains totaled ¥22.02 million, mainly from government grants and investment income.
Outlook and guidance
Management expects continued growth from both smart home and non-smart home IoT sectors, with further expansion into Wi-Fi 6E, Wi-Fi 7, and edge AI capabilities.
R&D and product line expansion remain strategic priorities, with ongoing investment in AIoT, RISC-V, and multi-protocol wireless technologies.
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