Transphorm Announces Fiscal 2024 First Quarter Results and Provides Business Update
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Monday, August 14, 2023
Technology, Hardware, Semiconductor, Watt, EV, SG, Original equipment manufacturer, SIP, Energy, GAAP, Government, SCWT, EVS, ODM, Silicon carbide, Traction, MOSFET, Yaskawa Electric Corporation, CFO, Growth, Entrepreneurship, AI, Gallium nitride, PSU Zephyrus, Cryptocurrency, Coal, Video game, Uranium mining, Electric motor, Rail transport, Transphorm, Silicon
Reported revenue of $5.9 million for the first quarter of fiscal 2024 with roughly an equal split in Product revenue and Government revenue, a 14% increase over the first quarter of fiscal 2023.
Key Points:
- Reported revenue of $5.9 million for the first quarter of fiscal 2024 with roughly an equal split in Product revenue and Government revenue, a 14% increase over the first quarter of fiscal 2023.
- With traction in design-ins and opportunities nearing production, the Company expects to resume sequential product revenue growth in the second quarter of fiscal 2024.
- Operating expenses on a GAAP basis were $8.9 million in the first quarter of fiscal 2024, compared to $8.5 million in the fourth quarter of fiscal 2023 and $6.1 million in the first quarter of fiscal 2023.
- Operating expenses on a non-GAAP basis were $6.8 million in the first quarter of fiscal 2024, a reduction from $7.5 million from the fourth quarter of fiscal 2023, and an increase from $5.4 million from the first quarter of fiscal 2023.