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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September 30,
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June 30,
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September 30,
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GAAP gross profit |
|
$ |
42,523 |
|
|
$ |
28,934 |
|
|
$ |
26,932 |
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|
Share-based compensation |
|
385 |
|
|
333 |
|
|
436 |
|
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Amortization of purchased intangible |
|
812 |
|
|
— |
|
|
— |
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|||
Production ramp up costs related to joint venture |
|
275 |
|
|
4,432 |
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|
5,991 |
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Non-GAAP gross profit |
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$ |
43,995 |
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$ |
33,699 |
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$ |
33,359 |
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Non-GAAP gross margin as a % of revenue |
|
29.0 |
% |
|
27.5 |
% |
|
28.3 |
% |
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| GAAP operating expense |
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$ |
32,196 |
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$ |
30,261 |
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$ |
27,553 |
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| Share-based compensation |
|
2,491 |
|
|
2,389 |
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|
1,933 |
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| Legal costs related to government investigation |
|
1,107 |
|
|
2,551 |
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— |
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| Non-GAAP operating expense |
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$ |
28,598 |
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$ |
25,321 |
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$ |
25,620 |
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| GAAP operating income (loss) |
|
$ |
10,327 |
|
|
$ |
(1,327 |
) |
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$ |
(621 |
) |
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| Share-based compensation |
|
2,876 |
|
|
2,722 |
|
|
2,369 |
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| Amortization of purchased intangible |
|
812 |
|
|
— |
|
|
— |
|
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| Production ramp up costs related to joint venture |
|
275 |
|
|
4,432 |
|
|
5,991 |
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| Legal costs related to government investigation |
|
1,107 |
|
|
2,551 |
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— |
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| Non-GAAP operating income |
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$ |
15,397 |
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$ |
8,378 |
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$ |
7,739 |
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| Non-GAAP operating margin as a % of revenue |
|
10.2 |
% |
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6.8 |
% |
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6.6 |
% |
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| GAAP net income (loss) attributable to AOS |
|
$ |
9,574 |
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$ |
(105 |
) |
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$ |
1,009 |
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| Share-based compensation |
|
2,876 |
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|
2,722 |
|
|
2,369 |
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| Amortization of purchased intangible |
|
812 |
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— |
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— |
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| Pre-production expenses related to joint venture |
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— |
|
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— |
|
|
49 |
|
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| Production ramp up costs related to joint venture |
|
135 |
|
|
2,224 |
|
|
3,049 |
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| Legal costs related to government investigation |
|
1,107 |
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|
2,551 |
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— |
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| Income tax effect of non-GAAP adjustments |
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(8 |
) |
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(4 |
) |
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(5 |
) |
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| Non-GAAP net income attributable to AOS |
|
$ |
14,496 |
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$ |
7,388 |
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$ |
6,471 |
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| Non-GAAP net margin attributable to AOS as a % of revenue |
|
9.6 |
% |
|
6.0 |
% |
|
5.5 |
% |
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| GAAP net income (loss) attributable to AOS |
|
$ |
9,574 |
|
|
$ |
(105 |
) |
|
$ |
1,009 |
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| Share-based compensation |
|
2,876 |
|
|
2,722 |
|
|
2,369 |
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| Amortization and depreciation |
|
12,489 |
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|
11,552 |
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|
10,904 |
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| Interest expense (income), net |
|
1,622 |
|
|
338 |
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(220 |
) |
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| Income tax expense |
|
1,011 |
|
|
385 |
|
|
410 |
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| EBITDAS |
|
$ |
27,572 |
|
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$ |
14,892 |
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$ |
14,472 |
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| GAAP diluted net income (loss) per share attributable to AOS |
|
$ |
0.36 |
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$ |
(0.00 |
) |
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$ |
0.04 |
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| Share-based compensation |
|
0.11 |
|
|
0.10 |
|
|
0.10 |
|
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| Pre-production expenses related to joint venture |
|
— |
|
|
— |
|
|
0.00 |
|
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| Production ramp up costs related to joint venture |
|
0.01 |
|
|
0.09 |
|
|
0.12 |
|
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| Legal costs related to government investigation |
|
0.04 |
|
|
0.10 |
|
|
— |
|
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| Amortization of purchased intangible |
|
0.03 |
|
|
— |
|
|
— |
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| Income tax effect of non-GAAP adjustments |
|
(0.00 |
) |
|
(0.00 |
) |
|
(0.00 |
) |
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| Non-GAAP diluted net income per share attributable to AOS |
|
$ |
0.55 |
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$ |
0.29 |
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$ |
0.26 |
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| Shares used to compute GAAP diluted net income (loss) per share |
|
26,314 |
|
|
25,227 |
|
|
25,130 |
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| Shares used to compute Non-GAAP diluted net income per share |
|
26,314 |
|
|
25,895 |
|
|
25,130 |
|
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Alpha and Omega Semiconductor Reports Financial Results for the Fiscal First Quarter of 2021 Ended September 30, 2020
** CQJV EBITDAS includes amounts attributable to noncontrolling interest.
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