Phison Electronics (8299) Q4 2025 earnings summary

Executive summary

• Achieved record-high Q4 revenue of TWD 22.799 billion and gross profit of TWD 9.5 billion, with gross margin at 41.6%-41.7%.

• Revenue for 2025 reached NT$72.66 billion, up 23% YoY, with net profit at NT$8.74 billion, a 10% increase from 2024.

• Shifted business focus from consumer to enterprise and embedded segments, with enterprise SSD and non-consumer/retail products contributing over 70% of Q4 revenue.

• AI-driven NAND demand is surging, causing shortages and price hikes, and rapid GPU platform launches require a more agile supply chain.

• Major investments included expansion into AI healthcare, the Indian market, and disposal of equity in EverBot and Hosin Global Electronics.

Financial highlights

• Q4 gross profit reached TWD 9.5 billion, and revenue hit TWD 22.799 billion, both all-time highs.

• 4Q25 gross margin was 41.6%-41.7%, with EPS at 21.7-21.74, and net income at NT$4.629 billion.

• FY2025 revenue was NT$72.664 billion, net income NT$8.741 billion, and basic EPS NT$41.98.

• Gross profit for 2025 was NT$24.99 billion, up from NT$19.11 billion in 2024.

• February 2026 revenue reached NT$12.198 billion, up 17% MoM and 180% YoY.

Outlook and guidance

• Enterprise SSD/module revenue share to surpass 30% in Q1 2026, with further growth expected.

• AI storage and edge AI platform solutions are positioned as the next growth engine.

• Gross margin expected to remain above historical average due to product mix and inventory strategy.

• Management continues to focus on flash memory controllers and peripheral applications, with ongoing R&D and market expansion.

• Issued NT$6 billion in new convertible bonds in February 2026 and secured a NT$12 billion syndicated credit facility.