Wiwynn (6669) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 reached NT$170.66 billion, up 145% year-over-year from NT$69.63 billion.

• Net income for Q1 2025 was NT$9.79 billion, more than double the NT$4.71 billion in Q1 2024.

• Gross profit margin for Q1 2025 was 8.7%, compared to 11.1% in Q1 2024.

• Earnings per share for Q1 2025 were NT$52.70 basic and NT$51.37 diluted, up from NT$26.92 and NT$26.87.

• Major revenue growth driven by hyperscale data center products, with America as the primary market.

Financial highlights

• Operating income for Q1 2025 was NT$11.98 billion, up from NT$5.86 billion in Q1 2024.

• Operating expenses increased to NT$2.87 billion from NT$1.85 billion year-over-year.

• Cash and cash equivalents at March 31, 2025 were NT$47.1 billion, up from NT$28.5 billion a year earlier.

• Total assets grew to NT$265.76 billion from NT$111.51 billion year-over-year.

• Net cash used in operating activities was NT$25.86 billion, compared to NT$8.70 billion in Q1 2024.

Outlook and guidance

• The company expects to comply with all financial covenants for at least 12 months after the reporting date.

• No significant impact anticipated from new accounting standards effective in 2026 and 2027.