SemiLEDS Corporation Announces Earnings Report

SemiLEDs Corporation has filed its 10-K report for the fiscal year ending August 31, 2024, revealing a decline in revenues to $5.2 million, down from $6.0 million the previous year, primarily due to lower sales of LED components and lighting products. Despite a decrease in operating expenses and an improved gross margin of 20%, the company reported a net loss of $2.0 million, slightly better than the $2.7 million loss in the prior year. Cash reserves decreased to $1.7 million, and management indicated ongoing challenges including liquidity, competitive pressures, and reliance on a limited customer base. While a liquidity plan is in place, the company may require additional financing to sustain operations. Notably, a material weakness in its financial reporting controls was also identified due to insufficient resources with SEC compliance experience.

SemiLEDS Corporation Announces Earnings Report

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