Silvaco Group (SVCO) Q4 2024 earnings summary

Executive summary

• Achieved record gross bookings of $65.8M (up 13% YoY) and revenue of $59.7M (up 10% YoY) for 2024, with strong Q4 performance and 46 new customers, expanding in power, memory, photonics, automotive, foundry, and display markets.

• Completed the acquisition of Cadence's OPC product line, expanding addressable market, technological capabilities, and entry into advanced memory and foundry markets.

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

• Achieved ISO 9001 certification for TCAD, EDA, and IP products, and expanded AI-based digital twin and FTCO platform adoption.

Financial highlights

• Q4 2024 gross bookings reached $20.3M (up 30% YoY), revenue $17.9M (up 43% YoY); full-year non-GAAP operating income $5.5M (up from $4.4M), non-GAAP net income $6.7M (up from $3.4M), and non-GAAP EPS $0.25 (up from $0.17).

• Q4 non-GAAP operating income was $3.1M (vs. -$1.3M in Q4 2023); Q4 non-GAAP net income $4.3M (vs. -$1.6M YoY); Q4 non-GAAP EPS $0.15 (vs. -$0.08 YoY).

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

• Q4 GAAP net income was $4.2M (vs. $-2.2M in Q4 2023); full year GAAP net loss was $-39.4M (vs. $-0.3M in 2023), impacted by non-recurring items.

Outlook and guidance

• 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 -$1M to $1M, EPS -$0.03 to $0.03.

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