Fositek (6805) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue was NT$2,251,711 thousand, up 31.62% YoY; operating income rose 35.53% and net income rose 59.19%.

• Total comprehensive income was NT$432,033 thousand, compared with NT$273,164 thousand in Q1 2024.

Financial highlights

• Revenue was NT$2,251,711 thousand vs NT$1,710,759 thousand; gross profit was NT$498,424 thousand vs NT$413,556 thousand.

• Operating income was NT$365,718 thousand vs NT$269,842 thousand; net income was NT$356,501 thousand vs NT$223,951 thousand.

• Income tax expense was NT$63,996 thousand vs NT$99,686 thousand; non-operating income and expenses were NT$55 million, nearly unchanged YoY.

• QoQ, revenue declined 18.70% and net income fell 13.67%; operating margin rose 3.84 percentage points to 16.24%.

Segment performance

• Foldable phone revenue was NTD 1,655 million, up from NTD 1,474 million YoY; its revenue mix fell to 73.5% from 86.1%.

• Server revenue reached NTD 365 million, or 16.2% of revenue, vs NTD 5 million and 0.3% a year earlier.

• NB revenue was NTD 205 million vs NTD 213 million; its mix fell to 9.1% from 12.5%.

• Computer and mobile phone components are aggregated into one reportable operating segment based on similar gross margins and expected cost rates.