Parade Technologies (4966) Q4 2024 earnings summary

Executive summary

• Q4 2024 revenue reached $127.41M, up 6.07% year-over-year, with net income at $21.3M and EPS of $0.27.

• Fiscal year 2024 revenue was $505.81M, a 14.63% increase from the prior year, with net income of $80.68M and EPS of $1.01.

• Revenue for 2024 reached NT$16,245.6 million, up 18% year-over-year, with net income of NT$2,592.1 million, a 27% increase from 2023.

• Major customers accounted for 89% of total revenue, with significant geographic sales in Taiwan and China.

• Product mix in Q4: DP >35%, high-speed/PS <50%, TC ~15%, TT <5%.

Financial highlights

• Q4 gross profit was $53.76M, down 7.22% sequentially but up 3.57% year-over-year.

• Operating income for FY2024 was $76.3M.

• Cash and cash equivalents increased to NT$10,531.9 million as of December 31, 2024.

• Basic EPS was NT$32.55, up from NT$25.73 in 2023.

• Inventory write-down reversals reduced cost of goods sold by NT$51.7 million.

Outlook and guidance

• Q1 2025 product mix expected to remain similar, with high-speed/PS possibly increasing.

• FY2025 revenue guidance: $121M–$134M for Q4, gross margin 42%–46%, OpEx $32M–$35M.

• Management expects double-digit sales growth in 2025, outpacing industry unit growth, driven by high-end notebook and AI-related demand.

• The company expects continued support from key suppliers and plans further treasury share repurchases in 2025.

• Q1 and Q2 2025 bookings are healthy, with some order pull-in due to tariff concerns.