Parade Technologies Reports Third Quarter 2022 Financial Results

Posted October 28th, 2022

Financial Highlights:

  • Q322 consolidated revenue US$151.04 million, compared with US$191.72 million in the year-ago quarter
  • Q322 consolidated net income US$32.64 million; Basic and Fully diluted after-tax EPS US$0.41 (NT$12.38) and US$0.40 (NT$12.21), respectively

Parade Technologies, Ltd. today announced its financial results for the third quarter fiscal year 2022 ended September 30, 2022, and provided guidance for the fourth quarter of fiscal year 2022.

Consolidated revenue was US$151.04 million and consolidated net income was US$32.64 million. Basic and fully diluted after-tax earnings per share (“EPS”) were US$0.41 (NT$12.38) and US$0.40 (NT$12.21), respectively. These results compared to consolidated revenue US$191.72 million and consolidated net income of US$53.34 million, or US$0.67 (NT$18.71) and US$0.66 (NT$18.34) per basic and fully diluted share, in the year-ago quarter.

In US dollars, the third quarter of 2022 consolidated revenue decreased 30.30% sequentially and was down 21.22% year-over-year.

The gross profit in the third quarter of 2022 was US$68.37 million, representing a decrease of 33.20% from the previous quarter and a decrease of 27.37% compared to the same quarter of last year.

On September 14, 2022, Parade announced redriver additions to its portfolio of HDMI™ 2.1/2.0 interface and signal conditioning devices. The new PS8219 HDMI 2.1 redriver and PS8210 HDMI 2.0 redriver are pin compatible with the PS8419 HDMI 2.1 retimer currently in high-volume production. The PS8419/P8219/PS8210 pin compatibility provides OEMs with the ability to quickly switch between the retimer option for best performance and the redriver option for lowest power in less challenging signaling environments. This greatly lowers the risk to OEMs for a PCB redesign at a later time, due to compliance or production issues, offering improved time-to-market for end products.

On September 7, 2022, Parade announced the availability of the PS8570 PCI Express 4.0 16Gbps linear redriver for PC, server and datacenter applications. The PS8570 features a quad-channel unidirectional linear redriver with a 2×2 crossbar switch. The PS8570 is fully compliant with the PCI Express 4.0 specification. The PS8570 features the industry’s lowest operating power for a PCIe 4 linear redriver. OEMs can enable PCIe 4 16Gbps support for power-sensitive mobile devices. The 2×2 crossbar switch allows for flexible interconnect configurations for high performance systems.

Based on current business outlook, Parade is providing the following guidance for the fourth quarter of fiscal 2022:

  • Revenue: US$100.0 ~110.0 Million
  • Gross Margin: 43.5% ~47.5%
  • Operating Expense: US$29.0 ~32.0 Million

The financial figures detailed above for the third quarter of 2022 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.