Semileds Corp Financials
This page shows Semileds Corp (LEDS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
FY2025 shows low-margin volume absorbing a mostly fixed cost base and finally producing positive cash flow at scale.
The least obvious shift is where the cash came from: FY2025 posted$2.2M of operating cash flow and$1.6M of free cash flow despite a net loss of-$1.1M and a roughly$4.4M build in receivables plus inventory. That only worked because current liabilities expanded almost one-for-one, so cash improved through supplier and short-term balance-sheet funding while larger sales spread nearly unchanged overhead over a much bigger revenue base.
FY2025 looks like a lower-margin volume step-up, not a richer margin model: revenue jumped to
The balance sheet is less burdened by long-term debt—down to
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Semileds Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Semileds Corp scores -13.80, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($17.8M) relative to total liabilities ($12.8M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Semileds Corp passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Semileds Corp generates $-1.95 in operating cash flow ($2.2M OCF vs -$1.1M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Earnings & Revenue
Semileds Corp generated $43.0M in revenue in fiscal year 2025. This represents an increase of 729.8% from the prior year.
Semileds Corp's EBITDA was -$883K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 61.4% from the prior year.
Semileds Corp reported -$1.1M in net income in fiscal year 2025. This represents an increase of 44.5% from the prior year.
Semileds Corp earned $-0.15 per diluted share (EPS) in fiscal year 2025. This represents an increase of 53.1% from the prior year.
Cash & Balance Sheet
Semileds Corp generated $1.6M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 437.0% from the prior year.
Semileds Corp held $2.6M in cash against $434K in long-term debt as of fiscal year 2025.
Semileds Corp had 8M shares outstanding in fiscal year 2025. This represents an increase of 14.5% from the prior year.
Margins & Returns
Semileds Corp's gross margin was 5.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 15.6 percentage points from the prior year.
Semileds Corp's operating margin was -3.7% in fiscal year 2025, reflecting core business profitability. This is up 52.2 percentage points from the prior year.
Semileds Corp's net profit margin was -2.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 36.6 percentage points from the prior year.
Semileds Corp's ROE was -40.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 51.9 percentage points from the prior year.
Capital Allocation
Semileds Corp invested $1.2M in research and development in fiscal year 2025. This represents a decrease of 0.5% from the prior year.
Semileds Corp invested $569K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 362.6% from the prior year.
LEDS Income Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $9.1M+752.8% | $1.1M-58.6% | $2.6M-80.6% | $13.2M-25.1% | $17.7M+62.4% | $10.9M+762.2% | $1.3M-4.8% | $1.3M |
| Cost of Revenue | $6.6M+525.1% | $1.1M-58.5% | $2.6M-80.4% | $13.0M-22.2% | $16.7M+69.3% | $9.9M+885.9% | $1.0M-14.5% | $1.2M |
| Gross Profit | $2.5M+40900.0% | $6K-66.7% | $18K-90.9% | $198K-78.9% | $939K-6.4% | $1.0M+285.8% | $260K+30.0% | $200K |
| R&D Expenses | $363K+31.5% | $276K-22.5% | $356K-1.7% | $362K+24.0% | $292K+4.7% | $279K+26.2% | $221K+1.8% | $217K |
| SG&A Expenses | $681K+18.4% | $575K-18.2% | $703K-17.6% | $853K+20.3% | $709K+15.5% | $614K-11.8% | $696K-8.4% | $760K |
| Operating Income | $1.4M+267.5% | -$845K+16.4% | -$1.0M-2.0% | -$991K-1498.4% | -$62K-156.4% | $110K+116.7% | -$657K+15.3% | -$776K |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | $1.5M+352.6% | -$603K+18.7% | -$742K+37.9% | -$1.2M-635.4% | $223K-42.5% | $388K+170.9% | -$547K+2.3% | -$560K |
| EPS (Diluted) | $0.18+357.1% | $-0.07+22.2% | $-0.09 | N/A | $0.03-40.0% | $0.05+162.5% | $-0.08 | N/A |
LEDS Balance Sheet
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $17.5M+7.9% | $16.3M+14.3% | $14.2M-8.7% | $15.6M-32.7% | $23.2M0.0% | $23.2M+122.9% | $10.4M-6.6% | $11.1M |
| Current Assets | $13.9M+11.4% | $12.4M+21.5% | $10.2M-9.3% | $11.3M-36.2% | $17.7M-2.9% | $18.2M+232.1% | $5.5M-6.6% | $5.9M |
| Cash & Equivalents | $6.0M+50.3% | $4.0M+37.7% | $2.9M+11.4% | $2.6M+8.0% | $2.4M0.0% | $2.4M+100.0% | $1.2M-28.2% | $1.7M |
| Inventory | $4.7M-3.0% | $4.9M+24.5% | $3.9M-17.9% | $4.8M-60.0% | $11.9M-11.8% | $13.5M+263.5% | $3.7M+4.1% | $3.6M |
| Accounts Receivable | $2.2M+33.0% | $1.6M-11.7% | $1.9M-48.0% | $3.6M+2087.8% | $164K-41.4% | $280K+7.3% | $261K-37.3% | $416K |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $14.5M-2.0% | $14.8M+21.3% | $12.2M-5.1% | $12.8M-33.2% | $19.2M-2.1% | $19.6M+122.1% | $8.8M-0.8% | $8.9M |
| Current Liabilities | $13.5M-1.1% | $13.6M+25.0% | $10.9M-4.1% | $11.4M-35.2% | $17.6M-2.3% | $18.0M+152.8% | $7.1M+1.3% | $7.0M |
| Long-Term Debt | $77K-60.1% | $193K-37.3% | $308K-29.0% | $434K-23.3% | $566K-9.6% | $626K-15.9% | $744K-14.5% | $870K |
| Total Equity | $3.1M+104.7% | $1.5M-27.3% | $2.1M-25.6% | $2.8M-30.4% | $4.0M+11.1% | $3.6M+127.5% | $1.6M-28.2% | $2.2M |
| Retained Earnings | -$189.6M+0.8% | -$191.2M-0.3% | -$190.6M-0.4% | -$189.8M-0.6% | -$188.6M+0.1% | -$188.8M+0.2% | -$189.2M-0.3% | -$188.7M |
LEDS Cash Flow Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.2M+82.6% | $1.2M+233.2% | $361K+38.8% | $260K-62.5% | $693K-50.7% | $1.4M+989.2% | -$158K-175.6% | $209K |
| Capital Expenditures | $87K+521.4% | $14K-53.3% | $30K+42.9% | $21K-93.2% | $310K+158.3% | $120K+1.7% | $118K+174.4% | $43K |
| Free Cash Flow | $2.1M+77.5% | $1.2M+259.2% | $331K+38.5% | $239K-37.6% | $383K-70.2% | $1.3M+565.6% | -$276K-266.3% | $166K |
| Investing Cash Flow | -$87K-480.0% | -$15K-1400.0% | -$1K+95.8% | -$24K+92.3% | -$313K-130.1% | -$136K-11.5% | -$122K-121.8% | -$55K |
| Financing Cash Flow | -$115K-0.9% | -$114K+1.7% | -$116K+3.3% | -$120K+20.5% | -$151K-41.1% | -$107K+56.1% | -$244K-115.9% | -$113K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
LEDS Financial Ratios
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 27.1%+26.6pp | 0.6%-0.1pp | 0.7%-0.8pp | 1.5%-3.8pp | 5.3%-3.9pp | 9.2%-11.4pp | 20.6%+5.5pp | 15.1% |
| Operating Margin | 15.6%+95.0pp | -79.4%-40.1pp | -39.4%-31.9pp | -7.5%-7.1pp | -0.4%-1.4pp | 1.0%+53.1pp | -52.1%+6.5pp | -58.6% |
| Net Margin | 16.8%+73.4pp | -56.7%-27.8pp | -28.9%-19.9pp | -9.0%-10.3pp | 1.3%-2.3pp | 3.6%+47.0pp | -43.4%-1.1pp | -42.3% |
| Return on Equity | 49.5%+89.5pp | -40.1%-4.2pp | -35.9%+7.1pp | -42.9%-48.5pp | 5.6%-5.2pp | 10.8%+45.4pp | -34.6%-9.2pp | -25.4% |
| Return on Assets | 8.7%+12.4pp | -3.7%+1.5pp | -5.2%+2.5pp | -7.7%-8.6pp | 1.0%-0.7pp | 1.7%+6.9pp | -5.3%-0.2pp | -5.0% |
| Current Ratio | 1.03+0.1 | 0.91-0.0 | 0.94-0.1 | 0.99-0.0 | 1.010.0 | 1.01+0.2 | 0.77-0.1 | 0.84 |
| Debt-to-Equity | 0.03-0.1 | 0.13-0.0 | 0.150.0 | 0.16+0.0 | 0.14-0.0 | 0.17-0.3 | 0.47+0.1 | 0.40 |
| FCF Margin | 23.3%-88.5pp | 111.8%+98.9pp | 12.9%+11.1pp | 1.8%-0.4pp | 2.2%-9.7pp | 11.8%+33.7pp | -21.9%-34.4pp | 12.5% |
Note: The current ratio is below 1.0 (0.99), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Semileds Corp's annual revenue?
Semileds Corp (LEDS) reported $43.0M in total revenue for fiscal year 2025. This represents a 729.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Semileds Corp's revenue growing?
Semileds Corp (LEDS) revenue grew by 729.8% year-over-year, from $5.2M to $43.0M in fiscal year 2025.
Is Semileds Corp profitable?
No, Semileds Corp (LEDS) reported a net income of -$1.1M in fiscal year 2025, with a net profit margin of -2.6%.
What is Semileds Corp's EBITDA?
Semileds Corp (LEDS) had EBITDA of -$883K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Semileds Corp have?
As of fiscal year 2025, Semileds Corp (LEDS) had $2.6M in cash and equivalents against $434K in long-term debt.
What is Semileds Corp's gross margin?
Semileds Corp (LEDS) had a gross margin of 5.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Semileds Corp's operating margin?
Semileds Corp (LEDS) had an operating margin of -3.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Semileds Corp's net profit margin?
Semileds Corp (LEDS) had a net profit margin of -2.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Semileds Corp's return on equity (ROE)?
Semileds Corp (LEDS) has a return on equity of -40.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Semileds Corp's free cash flow?
Semileds Corp (LEDS) generated $1.6M in free cash flow during fiscal year 2025. This represents a 437.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Semileds Corp's operating cash flow?
Semileds Corp (LEDS) generated $2.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Semileds Corp's total assets?
Semileds Corp (LEDS) had $15.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Semileds Corp's capital expenditures?
Semileds Corp (LEDS) invested $569K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Semileds Corp spend on research and development?
Semileds Corp (LEDS) invested $1.2M in research and development during fiscal year 2025.
What is Semileds Corp's current ratio?
Semileds Corp (LEDS) had a current ratio of 0.99 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Semileds Corp's debt-to-equity ratio?
Semileds Corp (LEDS) had a debt-to-equity ratio of 0.16 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Semileds Corp's return on assets (ROA)?
Semileds Corp (LEDS) had a return on assets of -7.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Semileds Corp's Altman Z-Score?
Semileds Corp (LEDS) has an Altman Z-Score of -13.80, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Semileds Corp's Piotroski F-Score?
Semileds Corp (LEDS) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Semileds Corp's earnings high quality?
Semileds Corp (LEDS) has an earnings quality ratio of -1.95x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Semileds Corp?
Semileds Corp (LEDS) scores 61 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.