NASDAQ: AOSL
ALPHA & OMEGA SEMICONDUCTOR LtdCIK 0001387467 · SIC 3674 · Semiconductors
This Annual Report on Form 10-K and the documents incorporated herein by reference contain 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, which are subject to the “safe… About this business →
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Latest financial statements
From 10-K filed Aug 27, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Operations
(in thousands, except per share data)
| Description | Year ended June 30, 2026 | Year ended June 30, 2025 | Year ended June 30, 2024 |
|---|---|---|---|
| Revenue | 678,927 | 696,162 | 657,274 |
| Cost of goods sold 1 | 527,383 | 535,158 | 485,356 |
| Gross profit | 151,544 | 161,004 | 171,918 |
| Operating expenses: | |||
| Research and development | 103,858 | 94,265 | 89,940 |
| Selling, general and administrative | 90,881 | 95,175 | 85,734 |
| Total operating expenses | 194,739 | 189,440 | 175,674 |
| Operating loss | (43,195) | (28,436) | (3,756) |
| Other income (loss), net | 4,381 | (1,004) | (73) |
| Interest income | 3,958 | 4,283 | 5,168 |
| Interest expenses | (775) | (2,639) | (3,982) |
| Net loss before income taxes and equity method investment income (loss) | (35,631) | (27,796) | (2,643) |
| Income tax expense (benefit) | 7,468 | (8,625) | 3,649 |
| Net loss before equity method investment income (loss) | (43,099) | (19,171) | (6,292) |
| Equity method investment income (loss) | 834 | (77,805) | (4,789) |
| Net loss | (42,265) | (96,976) | (11,081) |
| Net loss per common share | |||
| Basic | (1.41) | (3.30) | (0.39) |
| Diluted | (1.41) | (3.30) | (0.39) |
| Weighted average number of common share used to compute net loss per share: | |||
| Basic | 29,951 | 29,405 | 28,236 |
| Diluted | 29,951 | 29,405 | 28,236 |
Consolidated Balance Sheets
(in thousands, except par value per share)
| Description | June 30, 2026 | June 30, 2025 |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | 180,771 | 153,079 |
| Restricted cash | 654 | 419 |
| Accounts receivable, net | 42,798 | 34,772 |
| Inventories | 201,384 | 189,677 |
| Other current assets | 12,311 | 18,215 |
| Total current assets | 437,918 | 396,162 |
| Property, plant and equipment, net | 314,671 | 314,097 |
| Operating lease right-of-use assets, net | 22,271 | 21,288 |
| Intangible assets, net | 1,347 | 269 |
| Equity method investment | 142,658 | 279,122 |
| Deferred income tax assets | 8,630 | 599 |
| Other long-term assets | 36,060 | 22,766 |
| Total assets | 963,555 | 1,034,303 |
| LIABILITIES AND EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 46,951 | 60,044 |
| Accrued liabilities | 57,677 | 59,027 |
| Payable related to equity investee, net | 8,694 | 15,809 |
| Income taxes payable | 2,849 | 1,790 |
| Short-term debt | 3,094 | 11,852 |
| Deferred revenue | 726 | — |
| Finance lease liabilities | 1,085 | 1,007 |
| Operating lease liabilities | 6,290 | 4,978 |
| Total current liabilities | 127,366 | 154,507 |
| Long-term debt | 537 | 14,872 |
| Income taxes payable long-term | 4,776 | 4,201 |
| Deferred income tax liabilities | 11,936 | 13,192 |
| Finance lease liabilities long-term | 189 | 1,274 |
| Operating lease liabilities long-term | 16,787 | 16,925 |
| Other long-term liabilities | 4,063 | 7,000 |
| Total liabilities | 165,654 | 211,971 |
| Commitments and contingencies (Note 15) | ||
| Equity: | ||
| Preferred shares, par value $0.002 per share: | ||
| Authorized: 10,000 shares; issued and outstanding: none at June 30, 2026 and 2025 | — | — |
| Common shares, par value $0.002 per share: | ||
| Authorized: 100,000 shares; issued and outstanding: 38,294 shares and 30,253 shares, respectively at June 30, 2026 and 37,127 shares and 30,009 shares, respectively at June 30, 2025 | 77 | 74 |
| Treasury shares at cost; 8,041 shares at June 30, 2026 and 7,118 shares at June 30, 2025 | (97,097) | (79,058) |
| Additional paid-in capital | 406,933 | 379,779 |
| Accumulated other comprehensive loss | (3,526) | (12,390) |
| Retained earnings | 491,514 | 533,927 |
| Total shareholders' equity | 797,901 | 822,332 |
| Total liabilities and shareholders' equity | 963,555 | 1,034,303 |
Consolidated Statements of Cash Flows
(in thousands)
| Description | Year ended June 30, 2026 | Year ended June 30, 2025 | Year ended June 30, 2024 |
|---|---|---|---|
| Cash flows from operating activities | |||
| Net loss | (42,265) | (96,976) | (11,081) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 57,251 | 62,396 | 53,757 |
| Equity method investment (income) loss | (834) | 77,805 | 4,789 |
| Gain on recovery of privately-held investment | (290) | — | — |
| Share-based compensation expense | 26,678 | 29,569 | 21,641 |
| Deferred income taxes, net | (9,287) | (13,274) | (880) |
| Loss on disposal of property and equipment | 54 | 80 | 78 |
| Impairment of property and equipment | 334 | 1,045 | — |
| Impairment of privately-held investment | — | 100 | — |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (8,026) | (22,226) | 9,873 |
| Inventories | (11,707) | 6,073 | (12,503) |
| Other current and long-term assets | 1,395 | (465) | 1,927 |
| Payable related to equity investee, net | (7,115) | 2,127 | 1,731 |
| Accounts payable | (12,110) | 13,289 | (2,406) |
| Income taxes payable | 1,634 | (399) | (1,974) |
| Deferred revenue | 726 | (2,591) | (5,482) |
| Accrued and other liabilities | (12,758) | (26,885) | (33,760) |
| Net cash (used in) provided by operating activities | (16,320) | 29,668 | 25,710 |
| Cash flows from investing activities | |||
| Proceeds from sale of equity interest in the JV Company | 147,652 | — | — |
| Purchases of property and equipment | (51,752) | (37,180) | (37,088) |
| Purchases of intangible assets | (569) | — | — |
| Proceeds from sale of property and equipment | 11 | 61 | 383 |
| Proceeds from sale of privately-held investment | 290 | — | — |
| Government grants related to equipment | 145 | 678 | 961 |
| Loan receivable from suppliers | (9,677) | — | — |
| Net cash provided by (used in) investing activities | 86,100 | (36,441) | (35,744) |
| Cash flows from financing activities | |||
| Withholding tax on restricted stock units | (7,518) | (10,698) | (7,678) |
| Proceeds from exercise of stock options and ESPP | 7,997 | 7,801 | 10,114 |
| Payments for repurchase of common shares | (18,156) | — | — |
| Repayments of borrowings | (23,121) | (11,664) | (11,472) |
| Principal payments on finance leases | (1,007) | (935) | (867) |
| Net cash used in financing activities | (41,805) | (15,496) | (9,903) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (48) | 227 | (126) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 27,927 | (22,042) | (20,063) |
| Cash, cash equivalents and restricted cash at beginning of year | 153,498 | 175,540 | 195,603 |
| Cash, cash equivalents and restricted cash at end of year | 181,425 | 153,498 | 175,540 |
Amounts as printed on the EDGAR/iXBRL face — (in thousands, except per share data); (in thousands, except par value per share); (in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗
About ALPHA & OMEGA SEMICONDUCTOR Ltd
Source: Item 1 (Business) from the 10-K filed August 27, 2026. Description as filed by the company with the SEC.
Item 1.Business
Forward Looking Statements
This Annual Report on Form 10-K and the documents incorporated herein by reference contain 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, which are subject to the “safe harbor” created by those sections. Forward-looking statements are based on our management's beliefs and assumptions and on information currently available to our management. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “could,” “intend,” “would,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “project,” “predict,” “potential” and similar expressions intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance, time frames or achievements to be materially different from any future results, performance, time frames or achievements expressed or implied by the forward-looking statements. We discuss many of these risks, uncertainties and other factors in this Annual Report on Form 10-K in greater detail in