Sonix Technology (5471) Q1 2024 earnings summary

Executive summary

• Revenue for Q1 2024 was NT$612,028 thousand, up 14% year-over-year from NT$538,446 thousand.

• Net profit for Q1 2024 was NT$47,466 thousand, a significant increase from NT$8,968 thousand in Q1 2023.

• Total comprehensive income for Q1 2024 reached NT$81,833 thousand, up from NT$76,514 thousand in Q1 2023.

• Basic and diluted EPS for Q1 2024 were both NT$0.28, compared to NT$0.05 in Q1 2023.

Financial highlights

• Gross profit margin was 43% in Q1 2024, compared to 40% in Q1 2023.

• Operating profit for Q1 2024 was NT$24,775 thousand, up from NT$4,783 thousand in Q1 2023.

• Cash and cash equivalents increased to NT$1,259,875 thousand as of March 31, 2024, from NT$801,366 thousand a year earlier.

• Total assets as of March 31, 2024 were NT$4,163,762 thousand, with equity representing 88% of total assets.

• Net cash generated from operating activities in Q1 2024 was NT$53,275 thousand, and from investing activities NT$128,749 thousand.

Outlook and guidance

• The company continues to monitor the impact of new IFRS standards, including IFRS 18, and will disclose effects when assessments are complete.

• The 2023 earnings distribution plan includes a cash dividend of NT$1.2 per share, pending shareholder approval.