Alpha and Omega Semiconductor Limited (NASDAQ:AOSL) Q1 2024 Earnings Conference Call November 6, 2023 5:00 PM ET

Company Participants

Yujia Zhai - The Blueshirt Group, Investor Relations

Stephen Chang - Chief Executive Officer

Yifan Liang - Chief Financial Officer

Conference Call Participants

Jeremy Kwan - Stifel

David Williams - Benchmark

Craig Ellis - B. Riley Securities

Operator

Good afternoon. Thank you for attending today's Alpha and Omega Semiconductor Fiscal Q1 2024 Earnings Call. My name is Cole and I'll be the moderator for today's call. [Operator Instructions]

I would now like to pass the conference over to our host, Yujia Zhai. Please go ahead.

Yujia Zhai

Good afternoon, everyone and welcome to Alpha and Omega Semiconductor's conference call to discuss fiscal 2024 first quarter financial results. I am Yujia Zhai, Investor Relations representative for AOS. With me today are Stephen Chang, our CEO; and Yifan Liang, our CFO. This call is being recorded and broadcast live over the web. A replay will be available for 7 days following the call via the link in the Investor Relations section of our website. Our call will proceed as follows today. Stephen will begin with business updates, including strategic highlights and a detailed segment report. After that, Yifan will review the financial results and provide guidance for the December quarter. Finally, we'll have the Q&A session.

The earnings release was distributed over the wire today, November 6, 2023, after the markets close. The release is also posted on the company's website. Our earnings release and this presentation include non-GAAP financial measures. We use non-GAAP measures because we believe they provide useful information about our operating performance that should be considered by investors in conjunction with the GAAP measures. A reconciliation of these non-GAAP measures to the comparable GAAP measures is included in the earnings release. We remind you that during this conference call, we will make certain forward-looking statements, including discussions of the bins outlook and financial projections. These forward-looking statements are based on management's current expectations and involve risks and uncertainties that could cause our actual results to differ materially. For a more detailed description of these risks and uncertainties, please refer to our recent and subsequent filings with the SEC. We assume no obligation to update the information provided in today's call.

With that, I will now turn the call over to our CEO, Stephen Chang. Stephen?

Stephen Chang

Thank you, Yujia and good afternoon, everyone. I will begin today with a high-level overview of our results and then jump into segment details. We delivered fiscal Q1 results in line with our guidance. Revenue was $180.6 million. Non-GAAP gross margin was 28.8% and non-GAAP EPS was $0.33. These results were driven by strong shipments across notebooks, desktop computing and smartphones for fall device launches and the Q4 holiday season.