RAFAEL MICROELECTRONICS (6568) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 2025 was NT$276,970 thousand, down 3% year-over-year; nine-month revenue rose 6% to NT$836,730 thousand.

• Net profit for Q3 2025 was NT$28,857 thousand, a 9% decrease year-over-year; nine-month net profit dropped 24% to NT$72,492 thousand.

• Gross margin for Q3 2025 remained stable at 37%, consistent with the prior year.

Financial highlights

• Cash and cash equivalents at September 30, 2025, were NT$321,653 thousand, down from NT$378,812 thousand at year-end 2024.

• Inventory decreased to NT$255,055 thousand from NT$388,507 thousand at year-end 2024.

• Total assets stood at NT$1,687,222 thousand, with equity comprising 88% of the capital structure.

• Operating expenses for Q3 2025 were NT$74,097 thousand, up slightly from NT$73,242 thousand in Q3 2024.

• Basic EPS for Q3 2025 was NT$0.95, and for the nine months ended September 30, 2025, NT$2.37.

Outlook and guidance

• The company continues to focus on RFIC and integrated RF systems, with a single reportable segment.

• Management emphasizes balanced capital structure and ongoing investment in R&D and employee incentives.