Total Revenue

+18% (from $57.70M to $68.11M)

Total revenue increased by 18% sequentially in Q4 2024, driven by a continued recovery in sales volume and a more favorable product mix compared to Q3 2024. This builds on improvements seen in earlier quarters, where the company had been recovering from inventory buildups and macroeconomic headwinds. " "

Hong Kong Revenue

+29% (from $17.01M to $21.9M)

Hong Kong revenue surged by 29%, reflecting stronger local demand and an improved mix of higher-value products. This increase follows previous periods where revenue was suppressed due to excess inventory and lower ASPs, indicating a robust rebound in the region. "

Operating Income

7% improvement (from –$24.86M to –$23.02M)

Operating income improved modestly by about 7%, thanks to a combination of incremental revenue gains and disciplined cost management. This slight recovery builds on earlier efforts where improvements in manufacturing absorption and cost controls had begun to mitigate a challenging operating environment. " "

Net Income

Marginal improvement (from –$19.32M to –$18.81M)

Net income improved slightly by around $0.51M, driven by a better revenue mix and marginal operational improvements. However, the overall loss remains, reflecting the challenges noted in prior quarters where revenue and expense pressures had negatively impacted bottom‐line performance. " "

Cash Flow Net Change

Narrowed from –$8.15M to –$2.38M

The net change in cash improved significantly, with a reduction in the cash outflow from –$8.15M in Q3 2024 to –$2.38M in Q4 2024. This positive shift was largely due to stronger investing inflows from the maturity of short-term investments and improved operating cash generation, which helped offset the financing outflows seen in previous periods. " "

EPS (Basic & Diluted)

Improved marginally from –$0.83 to –$0.80

EPS showed a marginal improvement, reflecting the slight recovery in revenue and operating margins. Despite the continuing losses, better revenue performance and controlled expense measures helped improve EPS from –$0.83 to –$0.80, building on trends from previous quarters where similar factors drove incremental EPS gains. " "

Revenue

Q1 2025

no prior guidance

$53 million to $55 million "

no prior guidance

Gross Margins

Q1 2025

no prior guidance

57% "

no prior guidance

Operating Expenses

Q1 2025

no prior guidance

roughly flat sequentially "

no prior guidance

Interest Income

Q1 2025

no prior guidance

$4 million to $4.5 million "

no prior guidance

Non-GAAP EPS

Q1 2025

no prior guidance

$0.09 to $0.13 per share "

no prior guidance

CED

Emphasized in Q1–Q3 as the key growth engine for communications, enterprise and data center markets with high ASPs, margins, and robust year‐over‐year growth " " " "

Highlighted in Q4 with specific revenue contributions (37% of sales) and new product innovations (e.g., Super-TCXO, 800G optical modules) that further cement dependency on this market " "

Consistently bullish with evolving product innovation and sustained market dependency.

AI Infrastructure Demand

Repeatedly noted from Q1 to Q3 as a major driver for data center growth and AI-related design wins, with strong design wins and cloud provider investments " " " "

In Q4, reinforced by addressing GPU utilization challenges and introducing advanced products solving timing issues, underscoring its role in next-generation AI infrastructure "

Steady and positive sentiment with increased emphasis on innovative solutions to capture AI market demand.

Gross Margin Performance

Discussed in Q1–Q3 with figures around 57.9%–58.1%, highlighting initial sequential improvements and expectations to hit over 60% longer term despite near-term pressures " " "

Q4 reported an improvement to 58.8% but with guidance for a short-term dip next quarter due to seasonality and new product ramp costs " "

Upward trajectory overall with near-term seasonal headwinds yet a clear long-term improvement plan.

New Product Launches

Consistently mentioned from Q1 (integration with Aura and expanding clock portfolio) through Q2 and Q3 (robust design wins and ramp challenges) " " " "

Q4 continued the momentum with the introduction of 10 new platforms delivering 40 products, reinforcing their strategic innovation drive "

Sustained positive momentum with evolving integration and ramp-up successes driving future growth.

Automotive

Q1 highlighted ADAS and automotive electronics growth with cautious pricing pressure remarks " " ; Q2 had minimal specific comments; Q3 emphasized an expanded serviceable market and innovative FailSafe technology " "

Q4 focused on strong growth opportunities—especially in China—and did not raise pricing pressure issues, implying a more optimistic view "

Bullish trend with expanding opportunities and diminishing pricing concern over time.

Customer Concentration

Q2 noted significant contribution from the largest customer (18% of sales), while Q1 and Q3 did not focus on this topic "

Q4 expressed uncertainty regarding new product developments from the largest customer "

Emerging uncertainty in Q4 relative to earlier periods, making it a potential risk area.

Design-in Process Complexity

Discussed in Q2 regarding the extended and complex design-in cycles across semiconductor supply chains "

Not mentioned in Q4

Reduced focus in current period, possibly indicating resolution or deprioritization compared to earlier concerns.

Hyperscaler Penetration

Q3 revealed challenges with limited inroads into hyperscalers, while Q1 and Q2 did not raise explicit issues "

Not mentioned in Q4

Concerns raised in Q3 have not been followed up in Q4, suggesting either resolution or lower emphasis currently.

Inventory Correction and Demand Normalization

Q1 and Q2 discussed significant progress in inventory digestion and normalization of customer buying patterns, with clear signs of recovery " " " "

Not mentioned in Q4

Topic appears resolved by Q2; absence in Q4 indicates stabilization in demand and inventory levels.