X-FAB Silicon Foundries (XFAB) Q2 2025 earnings summary

Executive summary

• Q2 2025 revenue reached up to $218.3M, up as much as 8% year-over-year and quarter-over-quarter, exceeding guidance, with core markets (automotive, industrial, medical) contributing up to $206M and representing 94% of total revenue.

• Bookings increased 19% sequentially to $207.2M, with backlog rising to $413M, indicating robust demand and two consecutive quarters of order intake growth.

• Capacity constraints have eased, with factory cycle times shortened and new clean room equipment installed in Malaysia, completing a three-year capacity expansion program.

• Automotive, industrial, and medical segments all posted year-over-year and sequential revenue growth, with industrial up 37% and medical up 14%.

• Full-year 2025 revenue guidance upgraded to $840–$870M, with EBITDA margin expected between 24% and 27%.

Financial highlights

• Q2 gross profit was $49.9M, up 11–12% year-over-year, with a margin of 23.2%; EBITDA grew to $51.6M (24% margin), and EBIT was $21.7M (10.1% margin).

• Excluding IFRS 15, Q2 revenue was $218M and EBITDA margin would have been 24.3%.

• Q2 financial result included a $17.4M loss, mainly from an unrealized FX effect on euro-denominated debt; net profit was -$0.4M.

• Cash and cash equivalents at quarter-end were $157.7M, nearly unchanged sequentially.

• Q2 CapEx was $53.7M–$54M; H1 2025 CapEx totaled $155M–$155.5M, with full-year CapEx guidance at $250M.

Outlook and guidance

• Q3 2025 revenue expected at $215–$225M, with EBITDA margin of 22.5%–25.5%.

• Gradual revenue growth and improved profitability anticipated as capacity expansion normalizes.