Powerchip Semiconductor Manufacturing (6770) Q4 2025 earnings summary

Executive summary

• Revenue increased 4.5% year-over-year to NT$46.73 billion in 2025, but the company posted a net loss of NT$7.81 billion, widening from a NT$6.78 billion loss in 2024.

• Gross margin turned negative in 2025, with cost of revenue exceeding sales, resulting in a gross loss of NT$1.54 billion.

• Operating expenses remained high at NT$8.05 billion, with R&D accounting for NT$5.26 billion.

• The company maintained strong liquidity, ending 2025 with NT$24.21 billion in cash and cash equivalents.

Financial highlights

• Operating revenue: NT$46.73 billion in 2025, up from NT$44.73 billion in 2024.

• Net loss: NT$7.81 billion in 2025, compared to NT$6.78 billion in 2024.

• Basic and diluted loss per share: NT$1.86 in 2025, versus NT$1.64 in 2024.

• Cash flow from operations: NT$7.82 billion in 2025, up from NT$6.49 billion in 2024.

• Capital expenditures: NT$8.59 billion in 2025, down from NT$23.50 billion in 2024.

Outlook and guidance

• The company is preparing for IFRS 18 adoption in 2028, with ongoing assessment of impacts.

• After year-end, a major asset sale to Micron for US$1.68 billion and a new GDR issuance were approved to strengthen liquidity and competitiveness.