Allegro MicroSystems Reports First Quarter 2025 Results

The following table summarizes total net sales by market within the Company’s unaudited consolidated statements of operations:

   Three-Month Period Ended   Change 
   June 28, 2024   June 30, 2023   Amount   % 
   (Dollars in thousands) 
Automotive $131,184  $185,430  $(54,246)  (29)%
Industrial and other  35,735   92,863   (57,128)  (62)%
Total net sales $166,919  $278,293  $(111,374)  (40)%


 
ALLEGRO MICROSYSTEMS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share amounts)
 
   June 28,   March 29, 
   2024
(Unaudited)
   2024 
Assets      
Current assets:      
Cash and cash equivalents $ 173,136     $ 212,143  
Restricted cash     11,041       10,018  
Trade accounts receivable, net     63,358       118,508  
Accounts receivable due from related party     39       207  
Inventories     175,901       162,302  
Prepaid income taxes     29,411       31,908  
Prepaid expenses and other current assets     33,647       33,377  
Current portion of related party notes receivable     3,750       3,750  
Total current assets     490,283       572,213  
Property, plant and equipment, net     319,763       321,175  
Deferred income tax assets     59,589       54,496  
Goodwill     202,292       202,425  
Intangible assets, net     271,723       276,854  
Related party notes receivable, less current portion     3,750       4,688  
Equity investment in related party     26,270       26,727  
Other assets     75,220       72,025  
Total assets   $ 1,448,890     $ 1,530,603  
Liabilities, Non-Controlling Interests and Stockholders’ Equity            
Current liabilities:            
Trade accounts payable   $ 35,346     $ 35,964  
Amounts due to related party     4,895       1,626  
Accrued expenses and other current liabilities     63,885       76,389  
Current portion of long-term debt     1,411       3,929  
Total current liabilities     105,537       117,908  
Long-term debt     202,589       249,611  
Other long-term liabilities     30,922       31,368  
Total liabilities     339,048       398,887  
Commitments and contingencies            
Stockholders’ Equity:            
Preferred stock            
Common stock     1,938       1,932  
Additional paid-in capital     693,253       694,332  
Retained earnings     445,337       463,012  
Accumulated other comprehensive loss     (31,946 )     (28,841 )
Equity attributable to Allegro MicroSystems, Inc.     1,108,582       1,130,435  
Non-controlling interests     1,260       1,281  
Total stockholders’ equity     1,109,842       1,131,716  
Total liabilities, non-controlling interests and stockholders’ equity   $ 1,448,890     $ 1,530,603  



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