Gross Profits and Operating Income also top previous Q3 highs
Alchip Q3’24 Revenue Mix by Process Node
ASIC devices targeting the very advanced 7nm, 5nm and below process technology manufacturing nodes accounted for 96% of Alchip Technologies’ Q3 2024 revenue.
Taipei, Taiwan, Dec. 06, 2024 (GLOBE NEWSWIRE) — Alchip Technologies’ Q3 2024 financial results set third-quarter records across most of its key financial metrics, notably achieving records for Q3 for revenue, net income, gross profit, and operating income.
The Company’s Q3 2024 revenue reached $459.7 million, up 91.1% from Q3 2023 revenue of $240.6 million, and up 9.2% over Q2 2024 revenue of $421 million. The Q3 2024 net income of $55.5 million topped Q3 2023 net income of $28.1 million by 97.7%, and surpassed Q2 2024 net income of $49.3 million by 12.8%. Earnings per share closed the quarter at NT$22.46.
Alchip’s Q3 2024 gross profit and operating income also set third quarter records. For Q3 2024, gross profit reached $89.5 million, a 56.5% increase over Q3 2023 gross profit of $57.2 million, and exceeded Q2 2024 gross profit of $79.8 million by 12.1%. The Q3 2024 operating income reached $58.4 million, exceeding Q3 2023 operating income of $32 million by 82.5%, and beat Q2 2024 operating income of $51.2 million by 14.1%.
Looking at revenue mix by process node, devices designed to be manufactured on 7nm process technologies accounted for 73% of Q3 2024 revenue, while ASICs targeting the advanced 5nm and narrower pitch-widths accounted for 23% of Q3 2024 revenue. Together, the two nodes account for 97% of all fiscal year 2024 revenue to date. High-performance computing and networking applications drove 97% of Q3 2024 revenue, and 94% of revenue for fiscal year to date.
Alchip’s North America region accounted for the largest share of Q3 2024 revenue at 87%, followed by Asia Pacific at 7%, and Japan at 1%. For the fiscal year to date, North America contributed 85% of revenue, with Asia Pacific at 11%, Japan at 1%, and the remainder of the world at 3%.
Commenting on other quarterly data, Johnny Shen, Alchip’s President and CEO, noted that record-high quarterly revenue and profit were due to shipments of 7nm AI ASICs that exceeded previous expectations and the ramping of a customer’s 5nm AI accelerator product.
About Alchip
Alchip Technologies Ltd., founded in 2003 and headquartered in Taipei, Taiwan, is a leading global High-Performance Computing and AI infrastructure ASIC provider of IC and packaging design, and production services for companies developing complex and high-volume ASICs and SoCs. Alchip provides faster time-to-market and cost-effective solutions for SoC design at mainstream and advanced process technology. Alchip has built its reputation as a high-performance ASIC leader through its advanced 2.5D/3D CoWoS packaging, chiplet design, and manufacturing management. Customers include global leaders in artificial intelligence, high-performance computing, supercomputing, mobile communications, entertainment device, networking equipment, and other electronic product categories. Alchip is listed on the Taiwan Stock Exchange (TWSE: 3661).
For more information, please visit our website: http://www.alchip.com
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Alchip Q3’24 Revenue Mix by Process Node
CONTACT: Charles Byers
Alchip Technologies
+ (408)-310-9244
chuck_byers@alchip.com
