Giga-Byte Technology (2376) Q3 2024 earnings summary

Executive summary

• Revenue for the nine months ended September 30, 2024, surged to NT$199.53 billion, more than doubling year-over-year, with net income reaching NT$6.91 billion, up from NT$3.39 billion.

• Gross margin for the nine months was 11%, slightly up from 10% in the prior year period.

• Significant capital was raised through a global depositary receipt (GDR) issuance and a new convertible bond, supporting expansion and liquidity.

Financial highlights

• Operating revenue for Q3 2024 was NT$70.45 billion, up 90% year-over-year; nine-month revenue was NT$199.53 billion, up 119%.

• Net income for the nine months was NT$6.91 billion, with basic EPS of NT$10.72, compared to NT$3.39 billion and NT$5.34 EPS in the prior year.

• Operating profit for the nine months reached NT$10.30 billion, up from NT$3.38 billion year-over-year.

• Cash and cash equivalents increased to NT$32.55 billion as of September 30, 2024, from NT$28.55 billion a year earlier.

• Total assets rose to NT$131.89 billion, with equity attributable to owners at NT$50.81 billion.

Outlook and guidance

• Management expects continued growth, supported by strong demand for computer parts and networking products.

• Recent capital raises are intended to fund further expansion and procurement of raw materials.