Alpha and Omega Semiconductor Limited · Q1 2023 earnings

Briefing

AOS's Q1 2023 financial results were reported, with revenue reaching a record high and non-GAAP EPS exceeding expectations.

Alpha and Omega Semiconductor (AOS) reported its fiscal first quarter 2023 results, revealing a record high in revenue at $208.5 million, driven by an 11.5% year-over-year growth. The non-GAAP EPS was reported at $1.20. The company anticipates an industry inventory correction in PCs and smartphones in the near term.

• Revenue reached a record high of $208.5 million, up 11.5% year-over-year.
• Non-GAAP EPS was $1.20.
• The company expects to be impacted by an industry inventory correction in PCs and smartphones.
• Gaming and Quick Chargers segments have been a great success.

Headline financials

Revenue & EPS history

For the second quarter of fiscal year 2023, AOS expects revenue to be approximately $195 million, plus or minus $3 million. GAAP gross margin is anticipated to be 30.0%, plus or minus 1%, with non-GAAP gross margin expected to be 31.0%, plus or minus 1%. GAAP operating expenses are projected to be in the range of $43.5 million, plus or minus $1 million, while non-GAAP operating expenses are expected to be in the range of $34.5 million, plus or minus $1 million.