Alpha and Omega Semiconductor Limited |
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Reconciliation of Condensed Consolidated GAAP Financial Measures to Non-GAAP Financial Measures |
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(in thousands, except percentages and per share data) |
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(unaudited) |
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Three Months Ended |
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Fiscal Year Ended |
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June 30,
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March 31,
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June 30,
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June 30,
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June 30,
|
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GAAP gross profit |
$ |
60,580 |
|
|
$ |
52,691 |
|
|
$ |
28,934 |
|
|
$ |
204,543 |
|
|
$ |
102,731 |
|
Share-based compensation |
561 |
|
|
427 |
|
|
333 |
|
|
1,756 |
|
|
1,530 |
|
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Amortization of purchased intangible |
812 |
|
|
812 |
|
|
— |
|
|
3,247 |
|
|
— |
|
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Production ramp up costs related to joint venture |
— |
|
|
— |
|
|
4,432 |
|
|
275 |
|
|
25,461 |
|
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| Non-GAAP gross profit |
$ |
61,953 |
|
|
$ |
53,930 |
|
|
$ |
33,699 |
|
|
$ |
209,821 |
|
|
$ |
129,722 |
|
| Non-GAAP gross margin as a % of revenue |
34.9 |
% |
|
31.9 |
% |
|
27.5 |
% |
|
31.9 |
% |
|
27.9 |
% |
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| GAAP operating expense |
$ |
38,217 |
|
|
$ |
34,895 |
|
|
$ |
30,261 |
|
|
$ |
140,467 |
|
|
$ |
116,668 |
|
| Share-based compensation |
4,838 |
|
|
3,398 |
|
|
2,389 |
|
|
13,568 |
|
|
8,924 |
|
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| Legal costs related to government investigation |
553 |
|
|
563 |
|
|
2,551 |
|
|
3,066 |
|
|
4,684 |
|
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| Impairment of privately-held investment |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
600 |
|
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| Non-GAAP operating expense |
$ |
32,826 |
|
|
$ |
30,934 |
|
|
$ |
25,321 |
|
|
$ |
123,833 |
|
|
$ |
102,460 |
|
|
|
|
|
|
|
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| GAAP operating income (loss) |
$ |
22,363 |
|
|
$ |
17,796 |
|
|
$ |
(1,327 |
) |
|
$ |
64,076 |
|
|
$ |
(13,937 |
) |
| Share-based compensation |
5,399 |
|
|
3,825 |
|
|
2,722 |
|
|
15,324 |
|
|
10,454 |
|
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| Amortization of purchased intangible |
812 |
|
|
812 |
|
|
— |
|
|
3,247 |
|
|
— |
|
|||||
| Production ramp up costs related to joint venture |
— |
|
|
— |
|
|
4,432 |
|
|
275 |
|
|
25,461 |
|
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| Legal costs related to government investigation |
553 |
|
|
563 |
|
|
2,551 |
|
|
3,066 |
|
|
4,684 |
|
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| Impairment of privately-held investment |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
600 |
|
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| Non-GAAP operating income |
$ |
29,127 |
|
|
$ |
22,996 |
|
|
$ |
8,378 |
|
|
$ |
85,988 |
|
|
$ |
27,262 |
|
| Non-GAAP operating margin as a % of revenue |
16.4 |
% |
|
13.6 |
% |
|
6.8 |
% |
|
13.1 |
% |
|
5.9 |
% |
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| GAAP net income (loss) attributable to AOS |
$ |
19,539 |
|
|
$ |
16,100 |
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|
$ |
(105 |
) |
|
$ |
58,116 |
|
|
$ |
(6,596 |
) |
| Share-based compensation |
5,399 |
|
|
3,825 |
|
|
2,722 |
|
|
15,324 |
|
|
10,454 |
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| Amortization of purchased intangible |
812 |
|
|
812 |
|
|
— |
|
|
3,247 |
|
|
— |
|
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| Pre-production expenses related to joint venture |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
24 |
|
|||||
| Production ramp up costs related to joint venture |
— |
|
|
— |
|
|
2,224 |
|
|
135 |
|
|
13,356 |
|
|||||
| Legal costs related to government investigation |
553 |
|
|
563 |
|
|
2,551 |
|
|
3,066 |
|
|
4,684 |
|
|||||
| Impairment of privately-held investment |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
600 |
|
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| Income tax effect of non-GAAP adjustments |
(2 |
) |
|
64 |
|
|
(4 |
) |
|
53 |
|
|
(11 |
) |
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| Non-GAAP net income attributable to AOS |
$ |
26,301 |
|
|
$ |
21,364 |
|
|
$ |
7,388 |
|
|
$ |
79,941 |
|
|
$ |
22,511 |
|
| Non-GAAP net margin attributable to AOS as a % of revenue |
14.8 |
% |
|
12.6 |
% |
|
6.0 |
% |
|
12.2 |
% |
|
4.8 |
% |
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| GAAP net income (loss) attributable to AOS |
$ |
19,539 |
|
|
$ |
16,100 |
|
|
$ |
(105 |
) |
|
$ |
58,116 |
|
|
$ |
(6,596 |
) |
| Share-based compensation |
5,399 |
|
|
3,825 |
|
|
2,722 |
|
|
15,324 |
|
|
10,454 |
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| Amortization and depreciation |
13,251 |
|
|
13,745 |
|
|
11,552 |
|
|
52,685 |
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|
45,090 |
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| Interest expense (income), net |
1,476 |
|
|
1,562 |
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|
338 |
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|
6,308 |
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|
2,743 |
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| Income tax expense (income) |
1,241 |
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|
1,014 |
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|
385 |
|
|
3,935 |
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|
348 |
|
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| EBITDAS |
$ |
40,906 |
|
|
$ |
36,246 |
|
|
$ |
14,892 |
|
|
$ |
136,368 |
|
|
$ |
52,039 |
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| GAAP diluted net income (loss) per share attributable to AOS |
$ |
0.71 |
|
|
$ |
0.58 |
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|
$ |
(0.00 |
) |
|
$ |
2.13 |
|
|
$ |
(0.27 |
) |
| Share-based compensation |
0.19 |
|
|
0.14 |
|
|
0.10 |
|
|
0.56 |
|
|
0.41 |
|
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| Pre-production expenses related to joint venture |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
0.00 |
|
|||||
| Production ramp up costs related to joint venture |
— |
|
|
— |
|
|
0.09 |
|
|
0.01 |
|
|
0.54 |
|
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| Legal costs related to government investigation |
0.02 |
|
|
0.02 |
|
|
0.10 |
|
|
0.11 |
|
|
0.18 |
|
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| Amortization of purchased intangible |
0.03 |
|
|
0.03 |
|
|
— |
|
|
0.12 |
|
|
— |
|
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| Impairment of privately-held investment |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
0.02 |
|
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| Income tax effect of non-GAAP adjustments |
0.00 |
|
|
0.00 |
|
|
0.00 |
|
|
0.00 |
|
|
0.00 |
|
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| Non-GAAP diluted net income per share attributable to AOS |
$ |
0.95 |
|
|
$ |
0.77 |
|
|
$ |
0.29 |
|
|
$ |
2.93 |
|
|
$ |
0.88 |
|
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| Shares used to compute GAAP diluted net income (loss) per share |
27,705 |
|
|
27,716 |
|
|
25,227 |
|
|
27,272 |
|
|
24,840 |
|
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| Shares used to compute Non-GAAP diluted net income per share |
27,705 |
|
|
27,716 |
|
|
25,895 |
|
|
27,272 |
|
|
25,627 |
|
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Alpha and Omega Semiconductor Reports Financial Results for Fiscal Fourth Quarter and Fiscal Year Ended June 30, 2021
 |  | More IC News
|
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** CQJV EBITDAS includes amounts attributable to noncontrolling interest.
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