X-FAB Silicon Foundries (XFAB) Q2 2025 earnings summary

Executive summary

• Q2 2025 revenue ranged from $215 million to $218.3 million, up 5–8% year-over-year and quarter-over-quarter, with core markets (automotive, industrial, medical) contributing up to 94% of total revenue and strong growth in industrial and medical segments.

• Bookings increased 19% sequentially to $207.2 million, with backlog rising to $413 million, indicating robust demand and two consecutive quarters of order intake growth.

• Completion of a three-year capacity expansion program, including a new clean room in Malaysia, positions the business for further growth.

• Key growth drivers included EV-related automotive applications, power management for data centers, and medical-grade contactless temperature sensors.

Financial highlights

• Q2 2025 EBITDA was $51.6 million (24% margin), gross profit was $49.9 million (23.2% margin), and EBIT was $21.7 million (10.1% margin); net profit was -$0.4 million due to a $17.4 million unrealized FX loss.

• Q2 CapEx was $53.7–$54 million; H1 2025 CapEx totaled $155–$155.5 million, with full-year CapEx guidance at $250 million.

• Cash and cash equivalents at quarter-end were $157.7 million, nearly unchanged sequentially.

• Net debt increased to $310.4 million as of June 30, 2025, from -$19.2 million a year earlier.

Outlook and guidance

• Full-year 2025 revenue guidance upgraded to $840–$870 million, with EBITDA margin expected between 24% and 27%.

• Q3 2025 revenue expected at $215–$225 million, with EBITDA margin of 22.5%–25.5%.

• Gradual revenue growth and improved profitability anticipated as capacity expansion normalizes.