PixArt Q3's gross profit margin reached a new high of 59.3%, with a revenue of NT $1.594 billion
PixArt, an optical sensor manufacturer, announced its Q3 financial report for 2023. Thanks to customers replenishing inventory and an increase in the proportion of high-end product shipments, PixArt's gross profit margin has increased to 59.3%, reaching a new high in five years. In the third quarter, the revenue share of mouse sensors increased to 64%, while the proportion of gaming business decreased to 12%, while the rest was 24%.
PixArt Q3's revenue was NT $1.594 billion (unit: same below), a quarterly increase of 14.3% and an annual increase of 30.4%; The operating profit margin is 14.9%, which has changed from negative to positive compared to the same period last year; The company's net profit after tax was 299 million yuan, with a quarterly increase of 37.1% and an annual decrease of 58.7%; The net profit after tax per share is 2.08 yuan. In the third quarter, PixArt's net inventory continued to decline, reaching approximately 754 million yuan, a quarterly decrease of 4.91% and an annual decrease of 29.12%.
In the first three quarters of 2023, PixArt had a cumulative revenue of 4.076 billion yuan and a net profit after tax of 522 million yuan.
PixArt's Chief Financial Officer, Luo Meiwei, stated that there is an opportunity for Q4 mouse demand to grow compared to the previous quarter, while the gaming console product business will experience a seasonal decline, and overall revenue is expected to be better than in the third quarter. Subdividing into three major product lines, Luo Meiwei pointed out that the demand for mice this season is still good, and there is an opportunity for stable growth compared to the previous season; Game consoles have returned to normal seasonal demand, with revenue estimates declining compared to the previous quarter, while other product lines have increased and decreased. Overall, revenue will be slightly better than in the third quarter.
Looking ahead to next year, Luo Meiwei admitted that due to the impact of inventory adjustments this year, sales performance in the first half of the year was poor, and he expects operations to return to normal next year.
Regarding the foundry price of wafers, Luo Meiwei said that at present, the wafers are mainly manufacturers in Taiwan, China, China. The wafer price mainly reflects the market supply and demand. The cost in the fourth quarter has not changed much, and will continue to work with the wafers next year.
In addition, PixArt continues to develop new sensor products, including industrial control, temperature and health measurement sensors. Its contribution has gradually increased in the past two years and will continue to strive to promote it to customers; AI also focuses on edge computing, with the main products being image sensors.
PixArt Q3's revenue was NT $1.594 billion (unit: same below), a quarterly increase of 14.3% and an annual increase of 30.4%; The operating profit margin is 14.9%, which has changed from negative to positive compared to the same period last year; The company's net profit after tax was 299 million yuan, with a quarterly increase of 37.1% and an annual decrease of 58.7%; The net profit after tax per share is 2.08 yuan. In the third quarter, PixArt's net inventory continued to decline, reaching approximately 754 million yuan, a quarterly decrease of 4.91% and an annual decrease of 29.12%.
In the first three quarters of 2023, PixArt had a cumulative revenue of 4.076 billion yuan and a net profit after tax of 522 million yuan.
PixArt's Chief Financial Officer, Luo Meiwei, stated that there is an opportunity for Q4 mouse demand to grow compared to the previous quarter, while the gaming console product business will experience a seasonal decline, and overall revenue is expected to be better than in the third quarter. Subdividing into three major product lines, Luo Meiwei pointed out that the demand for mice this season is still good, and there is an opportunity for stable growth compared to the previous season; Game consoles have returned to normal seasonal demand, with revenue estimates declining compared to the previous quarter, while other product lines have increased and decreased. Overall, revenue will be slightly better than in the third quarter.
Looking ahead to next year, Luo Meiwei admitted that due to the impact of inventory adjustments this year, sales performance in the first half of the year was poor, and he expects operations to return to normal next year.
Regarding the foundry price of wafers, Luo Meiwei said that at present, the wafers are mainly manufacturers in Taiwan, China, China. The wafer price mainly reflects the market supply and demand. The cost in the fourth quarter has not changed much, and will continue to work with the wafers next year.
In addition, PixArt continues to develop new sensor products, including industrial control, temperature and health measurement sensors. Its contribution has gradually increased in the past two years and will continue to strive to promote it to customers; AI also focuses on edge computing, with the main products being image sensors.