Parade Technologies Reports First Quarter 2023 Financial Results

Posted April 25th, 2023

Financial Highlights:

  • Q123 consolidated revenue US$99.99 million, compared with US$210.72 million in the

year-ago quarter

  • Q123 consolidated net income US$11.62 million; Basic and Fully diluted after-tax EPS

US$0.15 (NT$4.51) and US$0.15 (NT$4.46), respectively

Parade Technologies, Ltd. today announced its financial results for the first quarter fiscal year 2023 ended March 31, 2023, and provided guidance for the second quarter of fiscal year 2023.

Consolidated revenue was US$99.99 million and consolidated net income was US$11.62 million. Basic and fully diluted after-tax earnings per share (“EPS”) were US$0.15 (NT$4.51) and US$0.15 (NT$4.46), respectively. These results compared to consolidated revenue US$210.72 million and consolidated net income of US$59.19 million, or US$0.75 (NT$20.91) and US$0.73 (NT$20.55) per basic and fully diluted share, in the year-ago quarter.

In US dollars, the first quarter of 2023 consolidated revenue decreased 1.44% sequentially and was down 52.55% year-over-year.

The gross profit in the first quarter of 2023 was US$44.04 million, representing a decrease of 1.42% from the previous quarter and a decrease of 56.30% compared to the same quarter of last year.

On February 22, 2023, Parade announced a new offering in its high-speed connectivity product category. The PS5510 which is an updated version of the FL5500 USB hub controller featuring ultra-low power operation and hardware-accelerated secure firmware updates. PS5510 is compliant with the USB 3.2 specification and offers 5 SuperSpeed+ ports (1 up/4 down), each capable of providing 10Gbps data connectivity. The upstream port and 2 downstream ports support the features required for USB-C connections while all of the ports may be used for legacy USB Type-A connections. One additional USB 2.0-only port is provided for an additional hard-wired device, often needed in the target applications. With its ultra-low power operation and on-chip RSA/SHA-256 hardware to support secure in-field firmware upgrades, PS5510 is ideal for port expansion on USB4 and ThunderboltTM docking solutions as well as monitors and mini-docks/dongles.

On March 22, 2023, Parade announced a new offering in its eDP Timing Controller with Embedded Driver (TED) product category. The TC3230 features support for higher resolutions as well as the most advanced Embedded DisplayPort features for power savings. TC3230 is compliant with the eDP 1.5 standard and supports Multi-SST Operation (MSO), Panel Self-Refresh, DSC 1.2a, ALPM, and more. The TC3220 is configurable to support all panel resolutions up to 2560×1600 using an 18 or 24-bit color format. Adding a second TC3230, in MSO+DSC mode, enables panel resolutions up to 3840×2160. With support for the standard based embedded video interface protocols offered by major CPU, GPU and SoC vendors, system implementation is straight-forward. The integrated source drivers support up to 2562 output channels with support for dual-gate and MUX2/MUX3 sub-pixel driving structures. The TC3230 is designed for Chip on Glass (COG) application on LTPS (Low Temperature Polycrystalline Silicon), a-Si (Amorphous Silicon) or Oxide type TFT panels. It requires no external crystal or timing reference, includes a programmable gamma buffer, as well as Parade’s exclusive Smart-Backlight™ feature for additional color and power optimization. The fully programmable row and column driver timing enables the TC3230 to serve a broad range of panels types, and it provides synchronization signals that support a wide range of touch controllers.

On March 29, 2023, Parade announced the availability of the PS8838 USB 3.2 / DP 2.1 MUX and PS8839 USB 3.2 / DP 2.1 DeMUX for commercial and consumer PCs, host systems and peripherals. PS8838 features a DisplayPort 2.1 and USB 3.2 Gen 2×1 MUX with retiming, targeting USB-C host systems and docks. PS8839 is a DeMUX/Retimer device optimized for sink applications including docks and peripherals. The PS8838 and PS8839 are fully compliant with USB-IF USB 3.2 specification supporting up to Gen 2×1 or 10Gbps and VESA DP 2.1 standard up to UHBR20. The devices support low power consumption for standby and low power states, greatly extending the battery life of mobile devices and enabling system EnergyStar compliance.

Based on current business outlook, Parade is providing the following guidance for the second quarter of fiscal 2023:

  • Revenue: US$98 ~110 Million
  • Gross Margin: 43% ~47%
  • Operating Expense: US$29.5 ~32.5 Million

The financial figures detailed above for the first quarter of 2023 have been reviewed by independent accountants.



About Parade Technologies, Ltd.

Parade Technologies, Ltd. is a leading supplier of mixed-signal ICs for a variety of popular display and high-speed interface standards used in computers, consumer electronics and display panels.  The fabless semiconductor company was founded in 2005 and publicly listed on Taipei Exchange (“TPEx”) in 2011 (stock code: 4966). Parade’s portfolio of IC products serves the growing demand for HDMI™, DisplayPort™, SATA, and USB ICs for display, storage and interface applications.

In addition to being a technology innovator, Parade is an active participant and leader in industry standards-setting organizations. Parade Technologies, Inc., a wholly owned US-based subsidiary of Parade Technologies, Ltd., is a member of VESA (Video Electronics Standard Association). Parade Technologies, Inc. has made key contributions to the development of VESA’s DisplayPort™ digital video interface standard.

Parade leverages its close relationships with market leading Tier-1 OEMs to develop ICs that provide unique system capabilities. Many of the company’s devices integrate proprietary technologies that offer superior system signal integrity, advanced system integration and enhanced power efficiency. As a result of the company’s “standards-plus” design philosophy, Parade ICs have been designed into products offered by nearly every leading computer and display vendor worldwide.