Silicon Motion Technology Corporation · NASDAQ:SIMO
Silicon Motion Technology — Q2 2025 Earnings Presentation
15 slides from Silicon Motion Technology's earnings presentation, Jul 31, 2025
Slide 1: Silicon Motion 2Q25 Earnings Highlights
Silicon Motion 2Q25 Earnings Highlights NASDAQ: SIMO July 31, 2025
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, without limitation, statements regar
Slide 3: 2Q 2025 Operating Highlights
Agenda 2Q 2025 Operating Highlights Financial (Non-GAAP) Financial (GAAP) • Revenue = $198.7m (+19% QoQ, -6% Y/Y) • Revenue = $198.7m (+19% QoQ, -6% Y/Y) • Gross Margin = 47.7% (vs. 47.1% prior Qtr) • Gross Margin = 47.7% (vs. 47.1% prior Qtr) • Operating Exp = $69.3m (vs. $63.6m prior Qtr) • Operat
Slide 4: Significant New Products Ramping
Significant New Products Ramping Client SSDs • SM2508 – High-performance 6nm 8-channel PCIe Gen5 SSD Controller • 8 NAND channels, 3,600 MT/s, 14GB/s sequential with ultra-low power consumption of 3.5W power consumption • SM2504XT – Mainstream 6nm 4-channel DRAM-less PCIeGen5 SSD Controller • SM2322
Slide 5: SSD Highlights
SSD Highlights • Shipping to six flash makers and nearly all module makers • New high-performance PCIe 5.0 SSD controller SM2508 – industry’s first merchant 6nm controller • Early shipments began in 3Q24; wins with four flash makers and nearly all module makers • Achieved 10% of client SSD revenue i
Slide 6: eMMC & UFS Highlights
eMMC & UFS Highlights • Shipping to all tier-one Android handset OEMs • Direct relationships with multiple NAND makers, module makers and smartphone OEMs • UFS 4.1 controller – development/qualification is on-going, and expect to ramp in 2026 • 2-channel UFS 4.1 controller has significant advantages
Slide 7: Enterprise, Datacenter & AI Infrastructure Highlights
Enterprise, Datacenter & AI Infrastructure Highlights • MonTitan SM8366 based development platform has sampled over a dozen target customers including: • Tier-1 Datacenter and Enterprise Storage Customers • NAND Flash Manufactures • Module Makers/Ecosystem Partners • Achieved Design wins with two Ti
Slide 8: Revenue and Non-GAAP EPS Trends
Revenue and Non-GAAP EPS Trends REVENUE EPS 8
Slide 9: Non-GAAP Gross & Operating Margin Trends
Non-GAAP Gross & Operating Margin Trends Gross Margin Operating Margin 9
Slide 10: Balance Sheet and Capital Allocation
Balance Sheet and Capital Allocation ($ in millions) 2023 2024 2025 YTD Cash, cash equivalents & 369.0 334.3 282.3 restricted cash Cash flow generated by 149.1 77.1 33.0 operating actvities Buybacks - - 24.3 Dividends 16.7* 67.3 33.7 Note: * Dividend discontinued due to merger agreement with Maxline
Slide 11: Target Financial Model
Target Financial Model 3Q 2025 Guidance • Revenue = $219m to $228m (+10% to 15% Q/Q) • Gross margin = 48.0 to 49.0% • Operating margin = 12.3 to 14.3% 2022 2023 2024 Long-Term Model Revenue 946 639 804 Robust Growth %YoY +3% -32% +26% Gross Margin 50% 43% 46% 48% to 50% Operating Expenses 216 199 24
Slide 12: 2Q 2025 Non-GAAP P&L
2Q 2025 Non-GAAP P&L ($m) Q2 2024 Q1 2025 Q2 2025 %QoQ %YoY Revenue 210.7 100% 166.5 100% 198.7 100% 19% -6% Cost of sales 113.8 54% 88.1 53% 104.0 52% 18% -9% Gross profit 96.8 46% 78.4 47% 94.7 48% 21% -2% R&D 50.7 24% 52.0 31% 58.1 29% 12% 15% SG&A 11.4 5% 11.6 7% 11.2 6% -3% -2% Operating expens
Slide 13: 2Q 2025 Non-GAAP Reconciliation
2Q 2025 Non-GAAP Reconciliation Dispute Unrealized ($m) Non-GAAP % of Stock-Based Related Gain(loss) on FX Gain GAAP % of Revenue Comp. Expenses Investments / (Loss) Revenue Revenue 198.7 100% 198.7 100% Cost of sales 104.0 52% 0.0 104.0 52% Gross profit 94.7 48% 0.0 94.7 48% Research & development
Slide 14: 1H 2025 Non-GAAP Reconciliation
1H 2025 Non-GAAP Reconciliation Dispute Realized/Unrealized ($m) Non-GAAP % of Stock-Based Related Gain(loss) on FX Gain GAAP % of Revenue Comp. Expenses Investments / (Loss) Revenue Revenue 365.2 100% 365.2 100% Cost of sales 192.0 53% 0.1 192.1 53% Gross profit 173.1 47% (0.1) 173.1 47% Research &
Slide 15: Thank You !
Thank You ! © 2021 Silicon Motion Technology Corporation. All Rights Reserved. FerriSSD, Ferri-eMMC, Shannon and Bigtera are trademarks of Silicon Motion registered in the United States, Taiwan, China and other countries. Other company, organization, and brand names may be trademarks or registered t