Alpha and Omega Semiconductor Limited (NASDAQ:AOSL) Q3 2023 Earnings Conference Call May 4, 2023 5:00 PM ET

Company Participants

Yujia Zhai - The Blueshirt Group, IR

Stephen Chang - Chief Executive Officer

Yifan Liang - Chief Financial Officer

Conference Call Participants

David Williams - Benchmark

Craig Ellis - B. Riley Securities

Jeremy Kwan - Stifel, Nicolaus

Operator

Ladies and gentlemen, hello. And welcome to the Alpha and Omega Semiconductor Fiscal Q3 2023 Earnings Call. My name is Maxine, and I will be coordinating today’s call. [Operator Instructions]

I will now hand you over to Yujia Zhai of The Blueshirt Group to begin. Yujia, please go ahead when you are ready.

Yujia Zhai

Good afternoon, everyone. And welcome to Alpha and Omega Semiconductor’s conference call to discuss fiscal 2023 third quarter financial results. 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 seven days following the call and can be found in the Investor Relations section of our website.

Today’s call will proceed as follows. Stephen will begin with business updates, provide strategic highlights and a detailed segment report. After that, Yifan will review the financial results and provide guidance for the June quarter. Finally, we will have the Q&A session. The earnings release was distributed over the wire today, May 4, 2023, after the market 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 business 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 obligations 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. Our fiscal Q3 results were near the high end of our revenue and gross margin guidance. Revenue was $132.6 million, non-GAAP gross margin was 25.1% and non-GAAP EPS was negative $0.21.