| Alpha and Omega Semiconductor Limited | ||||||||||||||||||||||
| Reconciliation of Condensed Consolidated GAAP Financial Measures to Non-GAAP Financial Measures | ||||||||||||||||||||||
| (in thousands, except percentages and per share data) | ||||||||||||||||||||||
| (unaudited) | ||||||||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||
|
March 31,
2019 |
December 31,
2018 |
March 31,
2018 |
March 31,
2019 |
March 31,
2018 |
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| GAAP gross profit | $ | 25,629 | $ | 29,502 | $ | 27,133 | $ | 87,742 | $ | 82,745 | ||||||||||||
| Share-based compensation | 494 | 541 | 449 | 1,532 | 1,180 | |||||||||||||||||
| Production ramp up costs related to joint venture | 3,350 | 3,516 | — | 7,983 | — | |||||||||||||||||
| Non-GAAP gross profit | $ | 29,473 | $ | 33,559 | $ | 27,582 | $ | 97,257 | $ | 83,925 | ||||||||||||
| Non-GAAP gross margin as a % of revenue | 27.0 | % | 29.2 | % | 26.8 | % | 28.7 | % | 26.9 | % | ||||||||||||
| GAAP operating income (loss) | $ | (3,735 | ) | $ | (3,202 | ) | $ | 681 | $ | (6,062 | ) | $ | 8,495 | |||||||||
| Share-based compensation | 3,112 | 4,418 | 2,460 | 10,659 | 8,477 | |||||||||||||||||
| Pre-production expenses related to joint venture | 3,584 | 3,734 | 2,772 | 11,945 | 2,772 | |||||||||||||||||
| Production ramp up costs related to joint venture | 3,350 | 3,516 | — | 7,983 | — | |||||||||||||||||
| Non-GAAP operating income | $ | 6,311 | $ | 8,466 | $ | 5,913 | $ | 24,525 | $ | 19,744 | ||||||||||||
| Non-GAAP operating margin as a % of revenue | 5.8 | % | 7.4 | % | 5.7 | % | 7.2 | % | 6.3 | % | ||||||||||||
| GAAP net income (loss) attributable to AOS | $ | (1,555 | ) | $ | (1,545 | ) | $ | 1,651 | $ | (684 | ) | $ | 13,242 | |||||||||
| Share-based compensation | 3,112 | 4,418 | 2,460 | 10,659 | 8,477 | |||||||||||||||||
| Pre-production expenses related to joint venture | 2,215 | 2,458 | 1,615 | 7,335 | 1,615 | |||||||||||||||||
| Production ramp up costs related to joint venture | 1,705 | 1,912 | — | 4,199 | — | |||||||||||||||||
| Income tax benefit from tax reform | — | — | — | — | (2,690 | ) | ||||||||||||||||
| Non-GAAP net income attributable to AOS | $ | 5,477 | $ | 7,243 | $ | 5,726 | $ | 21,509 | $ | 20,644 | ||||||||||||
| Non-GAAP net margin attributable to AOS as a % of revenue | 5.0 | % | 6.3 | % | 5.6 | % | 6.3 | % | 6.6 | % | ||||||||||||
| GAAP net income (loss) attributable to AOS | $ | (1,555 | ) | $ | (1,545 | ) | $ | 1,651 | $ | (684 | ) | $ | 13,242 | |||||||||
| Share-based compensation | 3,112 | 4,418 | 2,460 | 10,659 | 8,477 | |||||||||||||||||
| Amortization and depreciation | 8,010 | 8,279 | 7,431 | 24,159 | 21,818 | |||||||||||||||||
| Interest expense (income), net | 1,650 | 1,664 | (34 | ) | 4,738 | (249 | ) | |||||||||||||||
| Income tax expense | 625 | 701 | 830 | 1,886 | 32 | |||||||||||||||||
| EBITDAS | $ | 11,842 | $ | 13,517 | $ | 12,338 | $ | 40,758 | $ | 43,320 | ||||||||||||
| GAAP diluted net income (loss) per share attributable to AOS | $ | (0.06 | ) | $ | (0.06 | ) | $ | 0.07 | $ | (0.03 | ) | $ | 0.53 | |||||||||
| Share-based compensation | 0.12 | 0.18 | 0.10 | 0.43 | 0.35 | |||||||||||||||||
| Pre-production expenses related to joint venture | 0.09 | 0.10 | 0.06 | 0.30 | 0.06 | |||||||||||||||||
| Production ramp up costs related to joint venture | 0.07 | 0.08 | — | 0.17 | — | |||||||||||||||||
| Income tax benefit from tax reform | — | — | — | — | (0.11 | ) | ||||||||||||||||
| Non-GAAP diluted net income per share attributable to AOS | $ | 0.22 | $ | 0.30 | $ | 0.23 | $ | 0.87 | $ | 0.83 | ||||||||||||
| Shares used to compute GAAP diluted net income (loss) per share | 24,084 | 23,887 | 24,755 | 23,938 | 24,916 | |||||||||||||||||
| Shares used to compute Non-GAAP diluted net income per share | 24,769 | 24,432 | 24,755 | 24,598 | 24,916 | |||||||||||||||||
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Alpha and Omega Semiconductor Reports Financial Results for the Fiscal Third Quarter of 2019 Ended March 31, 2019
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