Parade Technologies (4966) Q4 2023 earnings summary

Executive summary

• FY2023 revenue was NT$13,769,072 thousand versus NT$20,055,284 thousand in FY2022; net income was NT$2,033,134 thousand versus NT$4,898,319 thousand.

• Independent accountants gave an unmodified opinion that the consolidated statements fairly present financial position, performance and cash flows under applicable ROC-endorsed IFRS requirements.

Financial highlights

• Gross profit was NT$6,019,412 thousand versus NT$9,315,740 thousand; operating income was NT$1,966,527 thousand versus NT$5,266,524 thousand.

• Cash from operating activities was NT$3,704,487 thousand versus NT$2,543,048 thousand; cash and equivalents ended FY2023 at NT$8,487,601 thousand versus NT$6,975,384 thousand.

• Total assets were NT$23,368,554 thousand at Dec. 31, 2023 versus NT$22,071,698 thousand; total equity was NT$19,600,508 thousand versus NT$17,731,109 thousand.

• Total comprehensive income was NT$1,985,863 thousand versus NT$6,819,973 thousand; FY2023 included a NT$47,271 thousand currency-translation loss versus a NT$1,921,654 thousand gain in FY2022.

Segment performance

• A single reportable operating segment generated revenue of NT$13,769,072 thousand; product revenue included high-speed interface chips NT$5,190,068 thousand, Source Driver NT$5,837,071 thousand, TrueTouch serial products NT$2,394,976 thousand and DisplayPort serial products NT$346,957 thousand.

• Geographic revenue: Taiwan NT$6,115,787 thousand, China NT$4,926,651 thousand, South Korea NT$2,200,307 thousand, Japan NT$399,740 thousand and other regions NT$126,587 thousand.