AIROHA TECHNOLOGY (6526) Q4 2024 earnings summary

Executive summary

• Revenue for 4Q24 reached NTD 4,832 million, up 51.7% year-over-year but down 13.2% sequentially from 3Q24.

• Net income for 4Q24 was NTD 583 million, a 283.6% increase year-over-year but a 28.8% decrease from 3Q24.

• Earnings per share for 4Q24 were NTD 3.76, up from NTD 0.85 in 4Q23 but down from NTD 5.09 in 3Q24.

• Revenue reached NT$19,122,104 thousand for 2024, up 41% year-over-year, driven by wireless and broadband communication chips.

• Net income attributable to owners was NT$2,691,949 thousand, a 178% increase from 2023.

Financial highlights

• Gross margin improved to 53.7% in 4Q24, up 4.8 percentage points year-over-year and 3.2 points sequentially.

• Operating margin for 4Q24 was 12.0%, up 7.2 points year-over-year but down 4.8 points from 3Q24.

• Net profit margin for 4Q24 was 12.1%, up 7.3 points year-over-year but down 2.6 points sequentially.

• Gross margin for 2024 was 52%.

• Basic EPS for 2024 was NT$16.10, up from NT$6.47 in 2023.

Key financial ratios and metrics

• Cash and cash equivalents at 4Q24 end were NTD 12,056 million, up from NTD 9,206 million in 4Q23.

• Total equity increased to NTD 20,962 million at 4Q24 from NTD 16,457 million in 4Q23.

• Net cash from operating activities in 4Q24 was NTD 2,198 million, up from NTD 1,259 million in 4Q23.

• Return on equity for 2024 was 14.5%.

• Current ratio for 2024 was 2.8x.