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AP Memory Technology (6531) investor relations material
AP Memory Technology Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved 35% year-over-year revenue growth in 2025, with net revenue reaching NT$5.67B.
Gross margin remained strong at 47%, supported by favorable product mix and currency effects.
Net income attributable to shareholders was NT$1.26B, down 20% year-over-year due to significant FX losses.
Pro forma results (excluding FX impact) show net income growth and higher EPS.
Financial highlights
Q4 2025 net revenue was NT$1.87B, up 21% sequentially and 58% year-over-year.
Q4 2025 gross margin was 50%, up from 46% in Q3 2025 and 53% in Q4 2024.
Q4 2025 net income attributable to shareholders was NT$706M, up 8% sequentially and 52% year-over-year.
Full-year 2025 EPS was NT$7.74, down from NT$9.73 in 2024; pro forma EPS was NT$8.94, up 14% year-over-year.
Outlook and guidance
Strong market demand for IOTRAM™, with growth moderated by test capacity.
IPC mass production ramp continues, with minor impact from PSMC fab move.
IPD mass production starts in Q2 2026, driven by strong demand.
VHMTM/VHMStackTM adoption continues, with first mass production expected in 2027/2028.
- Revenue and Q3 net income grew, but year-over-year profit fell; OCKY acquisition completed.6531
Q3 202520 Jan 2026 - Revenue up, but net loss driven by lower margins and FX losses; OCKY acquisition completed.6531
Q2 202513 Oct 2025 - Strong 3Q24 growth in revenue and margins, but cash declined amid customer concentration risk.6531
Q3 202413 Jun 2025 - Net profit up 36% in H1 2024, margins improved, and new product design-ins ramping.6531
Q2 202413 Jun 2025 - Q1 2025 revenue rose to NT$974.96M, OCKY consolidated, growth expected from S-SiCap™ IPC.6531
Q1 202511 Jun 2025 - 2024 net income up 9% with higher margins and new product lines set for 2025 growth.6531
Q4 20245 Jun 2025
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