Topoint Technology (8021) Q1 2025 earnings summary

Executive summary

• Net revenue for Q1 2025 reached NT$887.4 million, up 20.5% year-over-year but down 6.9% sequentially.

• Net profit rose to NT$52 million, a 144% increase year-over-year and 6.4% quarter-over-quarter.

• EPS for Q1 2025 was NT$0.36, up from NT$0.15 in Q1 2024 and up 5.9% sequentially.

• Gross margin improved to 26% from 23% year-over-year.

Financial highlights

• Gross margin for Q1 2025 was 25.8%–26%, up 3.1 ppt year-over-year.

• Operating income was NT$72 million, up 401.3% year-over-year but down 9.2% sequentially.

• Profit before income tax was NT$75.4 million, up from NT$20.8 million year-over-year.

• Net margin improved to 5.8%, up 0.7 ppt sequentially and 3.0 ppt year-over-year.

• Net cash generated from operating activities was NT$37.3 million, down from NT$48.7 million year-over-year.

Segment performance

• PCB Drills accounted for 67% of Q1 2025 revenue, NT$595 million, up 28% year-over-year and down 3% sequentially.

• Drilling Service contributed 33% of revenue, NT$292 million, up 7% year-over-year but down 14% sequentially.

• Taiwan segment revenue: NT$401.5 million; Mainland China: NT$481.8 million; Others: NT$4.0 million.

• Sales by region: China 59%, Taiwan 36%, Others 6%.

• Capacity utilization for PCB Drills was 79%, Drilling Service 54% in Q1 2025.