Achronix Announces Record Second Quarter 2021 Financial Results and Business Highlights

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Achronix and Speedster are registered trademarks, and Speedcore and Speedchip are trademarks of Achronix Semiconductor Corporation. All other brands, product names and marks are the property of their respective owners.

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For Achronix:
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ACHRONIX SEMICONDUCTOR CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Dollar in thousands, except shares and per share amounts)

(Unaudited)



















Three Months Ended


Six Months Ended







June 30, 


June 30, 







2021


2020


2021


2020















Revenue:













Product




$                33,812


$               13,672


$               59,416


$               18,888



Licensing



869


241


5,118


487




Total revenue


34,681


13,913


64,534


19,375















Cost of revenue



6,367


2,736


12,994


4,159















Gross profit



28,314


11,177


51,540


15,216















Operating expenses











Research and development


8,280


6,973


15,862


13,538



Sales and marketing


2,890


1,980


5,479


3,925



General and administrative


6,082


1,025


9,464


1,998




Total operating expenses


17,252


9,978


30,805


19,461
















Income (loss) from operations


11,062


1,199


20,735


(4,245)



Total other income (expense), net


1,061


(1,476)


250


(1,356)
















Income (loss) before income tax expenses


12,123


(277)


20,985


(5,601)



Provision for income tax


(53)


21


46


44















Net income (loss)*


$                12,176


$                  (298)


$               20,939


$               (5,645)















Net income (loss) per share











Basic




$                    0.66


$                 (0.05)


$                   2.23


$                 (0.91)



Diluted




$                    0.26


$                 (0.05)


$                   0.53


$                 (0.91)















Weighted - average shares used in computing net income per share: 










Basic




18,495


6,226


9,370


6,226



Diluted**



47,278


6,226


39,511


6,226















* Net  income does not exclude undistributed earnings attributable  to  participating securities .


** Diluted  shares  include options  and warrants  on an  as -if-converted basis  and  exclude redeemable preferred  stocks.


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