| Alpha and Omega Semiconductor Limited | ||||||||||||||||||||||
| Reconciliation of Condensed Consolidated GAAP Financial Measures to Non-GAAP Financial Measures | ||||||||||||||||||||||
| (in thousands, except percentages and per share data) | ||||||||||||||||||||||
| (unaudited) | ||||||||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||
|
December 31,
|
September 30,
|
December 31,
2017 |
December 31,
2018 |
December 31,
2017 |
||||||||||||||||||
| GAAP gross profit | $ | 29,502 | $ | 32,611 | $ | 28,082 | $ | 62,113 | $ | 55,612 | ||||||||||||
| Share-based compensation | 541 | 497 | 415 | 1,038 | 731 | |||||||||||||||||
| Production ramp up costs related to joint venture | 3,516 | 1,117 | — | 4,633 | — | |||||||||||||||||
| Non-GAAP gross profit | $ | 33,559 | $ | 34,225 | $ | 28,497 | $ | 67,784 | $ | 56,343 | ||||||||||||
| Non-GAAP gross margin as a % of revenue | 29.2 | % | 29.7 | % | 27.4 | % | 29.5 | % | 27.0 | % | ||||||||||||
| GAAP operating income (loss) | $ | (3,202 | ) | $ | 875 | $ | 3,224 | $ | (2,327 | ) | $ | 7,814 | ||||||||||
| Share-based compensation | 4,418 | 3,129 | 4,009 | 7,547 | 6,017 | |||||||||||||||||
| Pre-production expenses related to joint venture | 3,734 | 4,627 | — | 8,361 | — | |||||||||||||||||
| Production ramp up costs related to joint venture | 3,516 | 1,117 | — | 4,633 | — | |||||||||||||||||
| Non-GAAP operating income | $ | 8,466 | $ | 9,748 | $ | 7,233 | $ | 18,214 | $ | 13,831 | ||||||||||||
| Non-GAAP operating margin as a % of revenue | 7.4 | % | 8.5 | % | 7.0 | % | 7.9 | % | 6.6 | % | ||||||||||||
| GAAP net income (loss) attributable to AOS | $ | (1,545 | ) | $ | 2,416 | $ | 6,791 | $ | 871 | $ | 11,591 | |||||||||||
| Share-based compensation | 4,418 | 3,129 | 4,009 | 7,547 | 6,017 | |||||||||||||||||
| Pre-production expenses related to joint venture | 2,458 | 2,662 | — | 5,120 | — | |||||||||||||||||
| Production ramp up costs related to joint venture | 1,912 | 582 | — | 2,494 | — | |||||||||||||||||
| Income tax benefit from tax reform | — | — | (2,690 | ) | — | (2,690 | ) | |||||||||||||||
| Non-GAAP net income attributable to AOS | $ | 7,243 | $ | 8,789 | $ | 8,110 | $ | 16,032 | $ | 14,918 | ||||||||||||
| Non-GAAP net margin attributable to AOS as a % of revenue | 6.3 | % | 7.6 | % | 7.8 | % | 7.0 | % | 7.1 | % | ||||||||||||
| GAAP net income (loss) attributable to AOS | $ | (1,545 | ) | $ | 2,416 | $ | 6,791 | $ | 871 | $ | 11,591 | |||||||||||
| Share-based compensation | 4,418 | 3,129 | 4,009 | 7,547 | 6,017 | |||||||||||||||||
| Amortization and depreciation | 8,279 | 7,870 | 7,408 | 16,149 | 14,386 | |||||||||||||||||
| Interest expense (income), net | 1,664 | 1,424 | (174 | ) | 3,088 | (215 | ) | |||||||||||||||
| Income tax expense (benefit) | 701 | 560 | (2,072 | ) | 1,261 | (798 | ) | |||||||||||||||
| EBITDAS | $ | 13,517 | $ | 15,399 | $ | 15,962 | $ | 28,916 | $ | 30,981 | ||||||||||||
| GAAP diluted net income (loss) per share attributable to AOS | $ | (0.06 | ) | $ | 0.10 | $ | 0.27 | $ | 0.04 | $ | 0.46 | |||||||||||
| Share-based compensation | 0.18 | 0.13 | 0.16 | 0.31 | 0.25 | |||||||||||||||||
| Pre-production expenses related to joint venture | 0.10 | 0.11 | — | 0.21 | — | |||||||||||||||||
| Production ramp up costs related to joint venture | 0.08 | 0.02 | — | 0.09 | — | |||||||||||||||||
| Income tax benefit from tax reform | — | — | (0.11 | ) | — | (0.11 | ) | |||||||||||||||
| Non-GAAP diluted net income per share attributable to AOS | $ | 0.30 | $ | 0.36 | $ | 0.32 | $ | 0.65 | $ | 0.60 | ||||||||||||
| Shares used to compute GAAP diluted net income (loss) per share | 23,887 | 24,594 | 25,033 | 24,513 | 24,997 | |||||||||||||||||
| Shares used to compute Non-GAAP diluted net income per share | 24,432 | 24,594 | 25,033 | 24,513 | 24,997 | |||||||||||||||||
Alpha and Omega Semiconductor Reports Financial Results for the Fiscal Second Quarter of 2019 Ended December 31, 2018
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