SIMO FY 2023 Earnings Report — Silicon Motion Technology Corporation Revenue & Financial Results | Market Cap Arena

Silicon Motion Technology CorporationSIMO

FY 2023 Earnings

Reported April 30, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$639M	—	$946M	—	-32.4%
Op. Income	$40M	—	$214M	—	-81.4%
Gross Margin	42.3%	—	49.2%	—	-6.9pp
Net Margin	8.3%	—	18.2%	—	-10.0pp
EPS (Diluted)	$1.58	—	$5.16	—	-69.4%
Free Cash Flow	$99M	—	$51M	—	93.8%

Revenue Flow

Item	Amount
REVENUE	$639M
Cost of Revenue	$369M
GROSS PROFIT	$270M
R&D Expenses	$174M
Selling & Marketing	$27M
General & Administrative	$28M
SG&A Expenses	$55M
Other Expenses	$1M
Operating Expenses	$231M
Cost & Expenses	$599M
OPERATING INCOME	$40M
Interest Income	$12M
Interest Expense	$0
Other Income/Expenses	$21M
INCOME BEFORE TAX	$61M
Income Tax Expense	$8M
Net Income from Continuing Ops	$53M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$53M
Net Income Deductions	-$114.0K
BOTTOM LINE NET INCOME	$53M
D&A	$22M
EBIT	$61M
EBITDA	$83M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$639M
Cost of Revenue	$369M
GROSS PROFIT	$270M
R&D Expenses	$174M
Selling & Marketing	$27M
General & Administrative	$28M
SG&A Expenses	$55M
Other Expenses	$1M
Operating Expenses	$231M
Cost & Expenses	$599M
OPERATING INCOME	$40M
Interest Income	$12M
Interest Expense	$0
Other Income/Expenses	$21M
INCOME BEFORE TAX	$61M
Income Tax Expense	$8M
Net Income from Continuing Ops	$53M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$53M
Net Income Deductions	-$114.0K
BOTTOM LINE NET INCOME	$53M
D&A	$22M
EBIT	$61M
EBITDA	$83M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$53M
Depreciation & Amortization	$22M
Stock-Based Compensation	$18M
Deferred Income Tax	$428.0K
Other Non-Cash Items	-$23M
Change in Working Capital	$79M
OPERATING CASH FLOW	$149M
Capital Expenditure	-$50M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$1M
NET CASH FROM INVESTING	-$49M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	-$17M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$17M
FREE CASH FLOW	$99M
Net Change in Cash	$82M

Balance Sheet

Item	Amount
Cash & Equivalents	$314M
Short-Term Investments	$0
Net Receivables	$195M
Inventory	$217M
Other Current Assets	$50M
TOTAL CURRENT ASSETS	$793M
PP&E (Net)	$182M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$17M
Tax Assets	$0
Other Non-Current Assets	$16M
TOTAL NON-CURRENT ASSETS	$215M
TOTAL ASSETS	$1.0B
Account Payables	$56M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$83M
TOTAL CURRENT LIABILITIES	$213M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$60M
TOTAL NON-CURRENT LIABILITIES	$60M
TOTAL LIABILITIES	$273M
Common Stock	$1M
Additional Paid-In Capital	$321M
Retained Earnings	$411M
Treasury Stock	$0
Accum. Other Comp. Income	$1M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$735M
Minority Interest	$0
TOTAL EQUITY	$735M
TOTAL LIABILITIES & EQUITY	$1.0B
Total Debt	$2M
Net Debt	-$312M