AP Memory Technology (6531) Q2 2026 earnings summary

Executive summary

• Achieved strong revenue growth in Q2 2026, with significant YoY and QoQ increases across core product lines.

• IoTRAM™, S-SiCap™, and VHM™ product lines are driving business expansion, with IoTRAM™ seeing robust adoption and pricing.

• Manufacturing capacity remains a constraint amid high demand, prompting efforts to secure additional resources.

Financial highlights

• Q2 2026 net revenue reached NT$2,362.9M, up 13% QoQ and 74% YoY; gross margin at 49%.

• Operating margin improved to 31% in Q2 2026 from 28% in Q1 2026.

• Net income attributable to shareholders was NT$667.2M, up 1% QoQ and 224% YoY.

• Basic EPS for Q2 2026 was NT$4.18.

• Cash and cash equivalents totaled NT$9,708.5M as of June 30, 2026.

Outlook and guidance

• Anticipates continued strong growth in IoTRAM™ and S-SiCap™ product lines.

• IPD is entering a rapid mass production ramp, especially for AI/HPC applications.

• VHM™ expected to enter mass production in 2028; capacity expansion initiatives underway for 2027 and beyond.

• GDR offering planned to raise working capital and support growth.