Silvaco Group (SVCO) Q4 2024 earnings summary

Executive summary

• Achieved record Q4 and FY 2024 results with revenue of $59.7M (up 10% YoY) and gross bookings of $65.8M (up 13% YoY), driven by adoption of DTCO, EDA, and FTCO platforms and 46 new customers across power, memory, and photonics markets.

• Closed the acquisition of Cadence's OPC product line, expanding into a $357M SAM and strengthening position in advanced memory and foundry markets.

• Successfully completed IPO in May 2024, raising $106M net of underwriters' fees.

• Strategic focus on AI-driven innovation, digital twin modeling, and expanding both organically and through acquisitions.

• Achieved ISO 9001 certification for TCAD, EDA, and IP products and joined SMART USA Institute under CHIPS Manufacturing USA program.

Financial highlights

• Q4 2024 revenue: $17.9M (up 43% YoY); gross bookings: $20.3M (up 30% YoY); non-GAAP operating income: $3.1M (vs. -$1.3M YoY); non-GAAP net income: $4.3M (vs. -$1.6M YoY); non-GAAP gross margin: 89% (up from 79%).

• FY 2024 revenue: $59.7M (up 10% YoY); gross bookings: $65.8M (up 13% YoY); non-GAAP operating income: $5.5M (up from $4.4M); non-GAAP net income: $6.7M (up from $3.4M); non-GAAP EPS: $0.25 (up from $0.17); non-GAAP gross margin: 86% (up from 83%).

• Ended Q4 with $87.5M in cash and equivalents; diluted share count: 28.8M.

• Q4 GAAP net income: $4.2M (vs. -$2.2M YoY); FY GAAP net loss: $-39.4M (vs. -$0.3M YoY), impacted by non-recurring items.

Outlook and guidance

• FY 2025 guidance: gross bookings $72M–$79M (up 9%–20%), revenue $66M–$72M (up 11%–21%), non-GAAP gross margin 84%–89%, operating income $2M–$7M, EPS $0.07–$0.19.

• Q1 2025 guidance: bookings $16M–$19M, revenue $14.5M–$17M, gross margin 84%–87%, operating income between -$1M and $1M, EPS between -$0.03 and $0.03.

• Long-term targets: 15%–25% revenue growth, 90%+ gross margin, 25%+ operating margin.