Parade Technologies Reports Second Quarter 2023 Financial Results

Posted August 8th, 2023

Financial Highlights:

  • Q223 consolidated revenue US$104.18 million, compared with US$216.70 million in the year-ago quarter
  • Q223 consolidated net income US$13.98 million; Basic and Fully diluted after-tax EPS US$0.18 (NT$5.44) and US$0.18 (NT$5.40), respectively

Parade Technologies, Ltd. today announced its financial results for the second quarter fiscal year 2023 ended June 30, 2023, and provided guidance for the third quarter of fiscal year 2023.

Consolidated revenue was US$104.18 million and consolidated net income was US$13.98 million. Basic and fully diluted after-tax earnings per share (“EPS”) were US$0.18 (NT$5.44) and US$0.18 (NT$5.40), respectively. These results compared to consolidated revenue US$216.70 million and consolidated net income of US$60.94 million, or US$0.76 (NT$22.51) and US$0.75 (NT$22.18) per basic and fully diluted share, in the year-ago quarter.

In US dollars, the second quarter of 2023 consolidated revenue increased 4.19% sequentially and was down 51.93% year-over-year.

The gross profit in the second quarter of 2023 was US$45.80 million, representing an increase of 3.98% from the previous quarter and a decrease of 55.26% compared to the same quarter of last year.

On May 24, 2023, Parade announced the availability of the PS8833 USB4/TBT4/DP 2.1 retimer and PS8836 USB 3.2/DP 2.1 retimer for commercial and consumer PCs, host systems and peripherals. PS8833 features full capabilities of USB4®, DisplayPort 2.1™ and Thunderbolt™ 4.0 with 50% reduction in power consumption. Its pin compatibility with PS8830 USB4/TBT4 retimer currently shipping in customer systems, greatly simplifies OEM design for product longevity. PS8836 offers USB 3.2 Gen 2×2 with DP 2.1 and is pin compatible with PS8833. The PS8833 / PS8836 pin compatible solutions allow OEMs to easily offer a full range of USB4 and USB 3.2 product offerings.

On July 26, 2023, Parade has demonstrated the lowest latencies in the industry with its new PS8936 PCIe/CXL re-timer solution. PS8936 retimer chip developed for PCI Express Rev. 5.0 and Compute Express Link (CXL), supporting sixteen bidirectional lanes. In addition to supporting the 32 Gbps data rate offered by the PCI Express 5.0 specification, it also supports all lower data rates, to provide backward compatibility with earlier PCI Express revisions. The promise of CXL is to enable scalable, high-performance coherent memory. While CXL can rely on the continual advances in PCIe Express to address its ever-increasing bandwidth needs, access time is an equally critical factor for memory performance. As larger CXL architectures are built, they will inevitably encounter situations where signal integrity places limits on both scale and flexibility, and retimers will be needed. With Parade’s patented low-latency retimers, these systems can be built without compromising signal integrity or performance.

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

  • Revenue: US$107 ~119 Million
  • Gross Margin: 43% ~47%
  • Operating Expense: US$30 ~33 Million

The financial figures detailed above for the second quarter of 2023 have been audited 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.