Alpha and Omega Semiconductor (AOSL) Q4 2026 earnings summary

Executive summary

• Fiscal Q4 revenue was $170.4 million, up 4% sequentially but down 3.5% year-over-year, exceeding guidance midpoint.

• Advanced Computing and Communications segments drove growth, offsetting PC and gaming weakness.

• Full-year revenue was $678.9 million, a 2.5% decrease from the prior year.

• Q4 and full-year results exceeded guidance midpoint, with improving product mix and margin outlook.

• Strategic focus on higher performance applications and expanding R&D investments continues.

Financial highlights

• Q4 non-GAAP gross margin was 23.7%, with non-GAAP EPS at a loss of $0.13 per share.

• Q4 GAAP gross margin was 23.1%, up from 21.1% in Q3.

• Q4 GAAP operating loss was $11.0 million, improved from $14.1 million in Q3.

• Cash and cash equivalents at quarter/year end were $180.8 million.

• Non-GAAP operating expenses were $45.3 million, up from $44.3 million last quarter.

Outlook and guidance

• Next quarter revenue expected at $176 million ±$10 million.

• Non-GAAP gross margin guidance is 24.5% ±1%.

• Non-GAAP operating expenses expected at $46.5 million ±$1 million.

• CapEx for next quarter projected at $15–$17 million.

• Advanced computing revenue expected to grow over 40% sequentially, with AI/server business up more than 60%.