RAFAEL MICROELECTRONICS (6568) Q2 2025 earnings summary

Executive summary

• Revenue for Q2 2025 was NT$290,037 thousand, up from NT$259,501 thousand in Q2 2024, with six-month revenue at NT$559,760 thousand, up from NT$504,327 thousand year-over-year.

• Net profit for Q2 2025 was NT$4,772 thousand, down from NT$35,664 thousand in Q2 2024; six-month net profit was NT$43,635 thousand, down from NT$63,128 thousand year-over-year.

• Gross margin for Q2 2025 was 37%, compared to 43% in Q2 2024.

• Earnings per share for the six months ended June 30, 2025, were NT$1.43 basic and NT$1.42 diluted, compared to NT$2.07 for the same period last year.

Financial highlights

• Operating income for Q2 2025 was NT$290,037 thousand, with a gross profit of NT$106,589 thousand.

• Operating expenses increased to NT$70,708 thousand in Q2 2025 from NT$69,267 thousand in Q2 2024.

• Net cash inflow from operating activities for the six months ended June 30, 2025, was NT$107,904 thousand, up from NT$31,652 thousand year-over-year.

• Cash and cash equivalents at June 30, 2025, were NT$317,152 thousand.

• Inventory decreased to NT$294,152 thousand at June 30, 2025, from NT$428,016 thousand at June 30, 2024.

Outlook and guidance

• The company continues to focus on RFIC and integrated RF systems, with a strategy to maintain a balanced capital structure and support long-term growth.

• Dividend policy emphasizes a residual approach, with cash dividends not less than 10% of total bonuses annually.