SemiLEDs Reports Third Quarter Fiscal Year 2024 Financial Results and Engages Financial Advisor

SemiLEDs Corporation, a developer and manufacturer of LED chips and LED components, announced its financial results for the third quarter of fiscal year 2024, ended May 31, 2024.

Revenue for the third quarter of fiscal 2024 increased to $1.3 million, compared to $886 thousand in the second quarter of fiscal 2024. GAAP net loss attributable to SemiLEDs stockholders for the third quarter of fiscal 2024 decreased to $319 thousand, or $(0.06) per diluted share, compared to a net loss of $559 thousand, or $(0.11) per diluted share, in the second quarter of fiscal 2024.

GAAP gross margin for the third quarter of fiscal 2024 increased to 41%, compared to 13% for the second quarter of fiscal 2024. Operating margin for the third quarter of fiscal 2024 was negative 36%, compared with negative 94% for the second quarter of fiscal 2024. The Company’s cash and cash equivalents were $1.7 million at May 31, 2024, compared to $1.6 million at the end of the second quarter of fiscal 2024.

SemiLEDs develops and manufactures LED chips and LED components for general lighting applications, including street lights and commercial, industrial, system and residential lighting, along with specialty industrial applications such as ultraviolet (UV) curing, medical/cosmetic, counterfeit detection, horticulture, architectural lighting and entertainment lighting. SemiLEDs sells blue, white, green and UV LED chips.