X-FAB Silicon Foundries (XFAB) Q3 2026 earnings summary

Executive summary

• Q3 revenue was $194.4M, down 15% YoY and 3% QoQ; excluding IFRS 15 timing effects, revenue was $200.7M, down 12% YoY and up 2% QoQ.

• Bookings rose 38% YoY and 30% QoQ to $224.7M, the highest in two years; backlog reached $313.6M and book-to-bill was 1.12.

• Higher bookings and improving utilization support a gradual recovery across core markets.

Financial highlights

• Q3 gross profit was $31.6M; operating profit was $4.3M, versus $23.8M a year earlier.

• Net loss was $2.8M versus net profit of $16.6M in Q3 2025; EPS was -$0.02 versus $0.13.

• 9M revenue was $589.8M versus $648.0M; EBITDA was $105.3M versus $154.5M, and net loss was $16.7M versus net profit of $28.4M.

• EBITDA was $37.5M, down 30% YoY and up 12% QoQ; margin was 19.3% reported and 18.6% excluding IFRS 15 effects.

• Revenue recognized over time under IFRS 15 reduced Q3 reported revenue by $6.3M.

Outlook and guidance

• Q4 revenue guidance is $205M–$215M and EBITDA margin guidance is 19%–22%, excluding IFRS 15 timing effects and assuming an average exchange rate of $1.14/€.

• Q4 guidance is almost fully covered by backlog; typical order-to-revenue lag is three to five months, averaging four months.

• Backlog visibility into 2027 extends to Q4 and partly Q1; fuller guidance is expected after Q4 results.

• Site B end-of-life is expected around end-Q1/early-Q2 2027; last-time-buy orders are expected to reduce 2027 revenue by $50M against an $80M annual run rate.

• FY 2026 net CapEx is projected at ~$100M; from 2026 onward, CapEx is targeted at 10%–15% of revenue.