SemiLEDs Corp LEDS
We develop, manufacture and sell light emitting diode (LED) chips and LED components, LED modules and systems. Our products are used for general lighting and specialty industrial applications, including ultraviolet, or UV, curing of polymers, LED light therapy in medical/cosmetic applications, counterfeit detection, germicidal and viricidal devices LED lighting for horticulture applications, architectural lighting and entertainment lighting.
Utilizing our patented and proprietary technology, our manufacturing process begins by growing upon the surface of a sapphire wafer, or substrate, several very thin separate semiconductive crystalline layers of gallium nitride, or GaN, a process known as epitaxial growth, on top of which a mirror‑like reflective silver layer is then deposited. After the subsequent addition of a copper alloy layer and finally the removal of the sapphire substrate, we further process this multiple‑layered material to create individual vertical LED chips.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $43.0M | $5.2M | $6.0M | $7.1M | $4.7M | $6.1M | $5.9M | $7.5M | $9.2M | $10.1M |
| Cost of revenue | $40.6M | $4.1M | $5.0M | $5.7M | $3.7M | $4.5M | $5.5M | $7.9M | $9.1M | $15.1M |
| Gross profit | $2.4M | $1.1M | $1.0M | $1.4M | $1.0M | $1.6M | $452.0K | -$435.0K | $82.0K | -$4.9M |
| R&D | $1.2M | $1.2M | $1.4M | $1.5M | $1.6M | $1.5M | $1.6M | $957.0K | $851.0K | $2.0M |
| SG&A | $2.9M | $2.9M | $3.1M | $3.3M | $3.6M | $2.8M | $2.8M | $3.2M | $3.7M | $4.8M |
| Total operating expenses | $4.0M | $4.0M | $4.4M | $4.6M | $5.0M | $3.7M | $4.1M | $3.2M | $4.4M | $15.7M |
| Operating income | -$1.6M | -$2.9M | -$3.4M | -$3.2M | -$3.9M | -$2.1M | -$3.7M | -$3.7M | -$4.3M | -$20.6M |
| Pre-tax income | -$1.1M | -$2.0M | -$2.7M | -$2.7M | -$2.9M | -$547.0K | -$3.6M | -$3.0M | -$4.1M | -$21.3M |
| Net income | -$1.1M | -$2.0M | -$2.7M | -$2.7M | -$2.9M | -$544.0K | -$3.6M | -$3.0M | -$4.1M | -$21.3M |
| EPS, basic | -0.15 | -0.32 | -0.55 | -0.61 | -0.68 | — | — | — | — | — |
| EPS, diluted | -0.15 | -0.32 | -0.55 | -0.61 | -0.68 | -0.15 | -1.00 | -0.84 | -1.16 | -7.25 |
| Shares, diluted (wtd. avg.) | $7.7M | $6.3M | $4.9M | $4.5M | $4.2M | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $2.6M | $1.7M | $2.7M | $4.5M | $5.0M | $3.0M | $1.5M | $3.5M | $3.7M | $6.0M |
| Receivables | $3.6M | $416.0K | $793.0K | $880.0K | $865.0K | $1.3M | $703.0K | $282.0K | $1.1M | $900.0K |
| Inventory | $4.8M | $3.6M | $4.0M | $3.8M | $3.9M | $2.5M | $2.1M | $1.8M | $2.9M | $4.1M |
| Total current assets | $11.3M | $5.9M | $7.6M | $9.1M | $10.1M | $7.5M | $4.6M | $5.9M | $8.0M | $11.6M |
| Property, plant and equipment | $2.7M | $2.8M | $3.2M | $4.1M | $5.2M | $5.6M | $5.9M | $7.2M | $8.3M | $8.8M |
| Other intangibles | $100.0K | $90.0K | $97.0K | $102.0K | $126.0K | $89.0K | $93.0K | $98.0K | $104.0K | $44.0K |
| Total assets | $15.6M | $11.1M | $13.5M | $16.1M | $18.2M | $14.6M | $11.7M | $14.2M | $17.7M | $22.2M |
| Accounts payable | $5.0M | $137.0K | $436.0K | $286.0K | $753.0K | $536.0K | $680.0K | $894.0K | $1.1M | $1.3M |
| Short-term debt | $1.3M | $2.9M | $5.0M | $5.1M | $5.1M | $4.8M | $398.0K | $335.0K | $335.0K | $314.0K |
| Total current liabilities | $11.4M | $7.0M | $9.7M | $9.3M | $9.5M | $9.0M | $3.9M | $7.2M | $7.5M | $4.9M |
| Long-term debt | $434.0K | $870.0K | $1.3M | $1.9M | $2.6M | $2.9M | $6.0M | $2.0M | $2.4M | $2.6M |
| Total liabilities | $12.8M | $8.9M | $12.3M | $12.6M | $13.6M | $12.0M | $9.9M | $9.2M | $9.9M | $10.6M |
| Retained earnings | -$189.8M | -$188.7M | -$186.6M | -$184.0M | -$181.2M | -$178.4M | -$177.8M | -$174.3M | -$171.3M | -$167.2M |
| Total equity | $2.8M | $2.2M | $1.2M | $3.5M | $4.6M | $2.6M | $1.8M | $5.0M | $7.8M | $11.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $2.2M | -$365.0K | -$984.0K | -$1.5M | -$1.7M | -$1.0M | -$3.5M | -$1.2M | -$2.1M | -$3.4M |
| Depreciation and amortisation | $717.0K | $612.0K | $1.0M | $938.0K | $897.0K | $843.0K | $1.1M | $998.0K | $1.1M | $5.5M |
| Stock-based compensation | $92.0K | $282.0K | $518.0K | $459.0K | $186.0K | $101.0K | $149.0K | $141.0K | $25.0K | $382.0K |
| Capital expenditure | $569.0K | $123.0K | $200.0K | $280.0K | $118.0K | $271.0K | $127.0K | $341.0K | $150.0K | $821.0K |
| Investing cash flow | -$595.0K | -$101.0K | -$321.0K | -$113.0K | $159.0K | $518.0K | -$2.6M | $1.2M | $31.0K | -$535.0K |
| Financing cash flow | -$622.0K | -$449.0K | -$456.0K | $490.0K | $4.0M | $2.4M | $4.1M | -$331.0K | -$369.0K | $5.3M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-303981.
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