AIROHA TECHNOLOGY (6526) Q2 2024 earnings summary

Executive summary

• Consolidated revenue for 2Q24 reached NT$4,899 million, up 39.3% year-over-year and 28.0% sequentially from 1Q24.

• Net income for 2Q24 was NT$801 million, a 192.9% increase year-over-year and 95.4% sequentially.

• Earnings per share (EPS) for 2Q24 rose to NT$4.78, up 154.3% year-over-year and 94.3% quarter-over-quarter.

• Revenue for the six months ended June 30, 2024 was NT$8,725,242 thousand, up from NT$6,546,034 thousand year-over-year, driven by wireless and broadband communication chips.

• The company completed a major acquisition of IC Plus Corp. in July 2024, expanding its control and product line.

Financial highlights

• Gross margin improved to 52.8% in 2Q24, up 7.4 percentage points year-over-year and 0.2 points sequentially.

• Operating margin increased to 18.8% in 2Q24, up 11.2 percentage points sequentially and 7.2 points year-over-year.

• Net profit margin reached 16.3% in 2Q24, up 8.5 percentage points year-over-year and 5.6 points sequentially.

• Operating income for 2Q24 was NT$921 million, up 246.9% year-over-year and 108.3% sequentially.

• Gross profit for the six months ended June 30, 2024 was NT$4,598,493 thousand, up from NT$2,926,037 thousand year-over-year.

Segment performance

• Advanced Artificial Intelligence of Things accounted for over 55% of revenue in 2Q24.

• The Infrastructure of Fixed Broadband Network contributed less than 40% of revenue.