AOSL Fiscal Q4 2026 Earnings Call: AI Growth Drives Mix, September Guidance at $176M
Source Tradingkey
Key Takeaways
- Alpha and Omega Semiconductor (AOSL) reported fiscal Q4 2026 revenue of $170.4 million, up 4% sequentially and down 3.5% year over year. Revenue finished above the midpoint of management’s guidance.
- Non-GAAP gross margin improved to 23.7% from 21.7% in the prior quarter, primarily due to a better product mix and higher utilization. Non-GAAP loss narrowed to $0.13 per share from $0.28.
- Advanced Computing revenue increased 35% sequentially and reached a record 31% of Computing segment revenue, supported by AI, server, workstation and cloud applications.
- For the September 2026 quarter, management expects revenue of approximately $176 million, plus or minus $10 million, and non-GAAP gross margin of 24.5%, plus or minus 1 percentage point.
- Management expects Advanced Computing revenue to grow more than 40% sequentially in the September quarter. AI and server revenue alone is projected to rise more than 60% and account for most of Advanced Computing.
- Flooding caused by Typhoon Dolphin affected AOSL’s Shanghai packaging operations. The company’s initial assessment indicated a September-quarter revenue impact of a few million dollars, along with some margin pressure already reflected in guidance.
Core Financial Results
| Metric | Fiscal Q4 2026 result | Comparison and commentary |
|---|---|---|
| Revenue | $170.4 million | Up 4% sequentially; down 3.5% year over year |
| DMOS revenue | $113.2 million | Down 1.6% sequentially; up 5.6% year over year |
| Power IC revenue | $55.5 million | Up 18.2% sequentially; down 19.3% year over year |
| Assembly services and other revenue | $1.7 million | $1.9 million in the prior quarter; $0.5 million a year earlier |
| Non-GAAP gross margin | 23.7% | 21.7% in the prior quarter; 24.4% a year earlier |
| Non-GAAP operating expenses | $45.3 million | $44.3 million in the prior quarter; increase mainly reflected higher R&D spending |
| Non-GAAP EPS | Loss of $0.13 | Loss of $0.28 in the prior quarter; earnings of $0.02 a year earlier |
| Operating cash flow | Negative $10.0 million | Negative $8.3 million in the prior quarter |
| EBITDA excluding equity-method investment income and loss | $10.1 million | $5.9 million in the prior quarter; $10.5 million a year earlier |
| Quarter-end cash | $180.8 million | $190.3 million at the end of the prior quarter |
| Net inventory | Up $2.3 million sequentially | Average inventory days were 138, versus 139 previously |
| Capital expenditure | $14.9 million | $12.1 million in the prior quarter |
Business and Operating Performance
Computing
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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