Topoint Technology (8021) Q3 2024 earnings summary

Executive summary

• Net revenue for Q3 2024 reached NT$962 million, up 8.1% sequentially and 30.5% year-over-year.

• Net operating revenue for the nine months ended September 30, 2024 was NT$2,588 million, up 32% year-over-year from NT$1,966 million.

• Net profit for Q3 2024 was NT$68 million, a 97.3% increase year-over-year, with EPS at NT$0.48.

• Net profit for the nine months was NT$161 million, reversing a net loss of NT$79 million in the prior year period.

• Gross margin improved to 27.6% in Q3 2024 and to 26% for the nine months, up from 22% year-over-year.

Financial highlights

• Operating income for Q3 2024 was NT$104 million, up 28.5% sequentially and 149.7% year-over-year.

• Operating income for the nine months was NT$197 million, up from NT$35.8 million last year.

• Gross profit for Q3 2024 was NT$266 million, up 12.7% sequentially and 45.0% year-over-year.

• Gross profit for the nine months was NT$668.7 million, up 57% year-over-year.

• Net cash generated from operating activities was NT$54.2 million, down from NT$155.8 million in the prior year.

Segment performance

• PCB Drills accounted for 61% of Q3 2024 revenue, with NT$586 million, up 13% sequentially and 33% year-over-year.

• Drilling Service contributed 39% of Q3 2024 revenue, with NT$376 million, up 5% sequentially and 29% year-over-year.

• Taiwan segment contributed NT$1,169 million in revenue and NT$71 million in segment income for the nine months.

• Mainland China segment reported NT$1,406 million in revenue and NT$143 million in segment income.

• Capacity utilization for PCB Drills rose to 86% in Q3 2024, while Drilling Service was at 67%.