SemiLEDs Q3 FY2023 revenue up QoQ to $1.7M but net loss widens to $756K

Revenue for the third quarter of fiscal 2023 increased to $1.7 million, compared to $1.2 million in the second quarter of fiscal 2023. GAAP net loss attributable to SemiLEDs stockholders for the third quarter of fiscal 2023 increased to $756 thousand, or $(0.15) per diluted share, compared to a net loss of $541 thousand, or $(0.11) per diluted share, in the second quarter of fiscal 2023. GAAP gross margin for the third quarter of fiscal 2023 decreased to 14%, compared to 23% for the second quarter of fiscal 2023. Operating margin for the third quarter of fiscal 2023 increased to negative 58%, compared with negative 61% for the second quarter of fiscal 2023. The Company’s cash and cash equivalents were $3.0 million at May 31, 2023, compared to $3.9 million at the end of the second quarter of fiscal 2023. We expect revenue for the fourth quarter ending August 31, 2023 to be approximately $1.4 million +/- 10%.