ASRock Industrial Computer (3515) Q1 2025 earnings summary

Executive summary

• Q1 revenue was NTD 10,462,205 thousand, up 111% YoY; net profit was NTD 556,443 thousand, up 61%.

• Gross margin narrowed to 15% from 20%; operating cash flow was an outflow of NTD 281,650 thousand vs NTD 47,168 thousand.

Financial highlights

• Gross profit was NTD 1,545,842 thousand vs NTD 1,011,996 thousand; operating income was NTD 656,706 thousand vs NTD 300,196 thousand.

• Operating expenses rose 25% to NT$889m; profit before tax was NTD 720,999 thousand vs NTD 426,524 thousand.

• Net profit attributable to owners was NTD 442,155 thousand vs NTD 308,065 thousand; non-controlling interests were NTD 114,288 thousand vs NTD 38,062 thousand.

• Total comprehensive income was NTD 630,161 thousand vs NTD 525,638 thousand, including foreign currency translation gains of NTD 73,718 thousand vs NTD 179,511 thousand.

Segment performance

• Motherboard-related R&D, design and sales are managed as one operating unit, with no separate segment breakdown presented.

• Revenue from goods was NTD 10,412,259 thousand vs NTD 4,929,582 thousand; service revenue was NTD 49,946 thousand vs NTD 23,638 thousand.