Diodes Incorporated Reports Third Quarter 2026 Financial Results

Approximately $35 million went toward the stock buyback program during the quarter.

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Achieves Record Quarterly Revenue with 36% YoY Growth; Non-GAAP EPS Increases over 200%

PLANO, Texas--(BUSINESS WIRE)-- Diodes Incorporated (Diodes) (Nasdaq: DIOD) today reported its financial results for the third quarter ended September 30, 2026.

Third Quarter Highlights

• Revenue was $532.6 million, increasing 35.8% from the $392.2 million in the third quarter 2025 and 19.5% over the $445.5 million in the prior quarter;
• GAAP gross profit was $192.5 million, compared to $120.5 million in the third quarter 2025 and $147.6 million in the prior quarter;
• GAAP gross profit margin was 36.1%, an increase of 540 basis points compared to 30.7% in the third quarter 2025 and 300 basis points from 33.1% in the prior quarter;
• Non-GAAP gross profit was $192.9 million and non-GAAP gross profit margin was 36.2%, which excluded $0.4 million of inventory accounting associated with the acquisition of ElevATE Semiconductor. Inc.;
• GAAP net income was $43.7 million, compared to $14.3 million in the third quarter 2025 and $46.6 million in the prior quarter;
• Non-GAAP adjusted net income was $54.5 million, compared to $17.2 million in the third quarter 2025 and $32.5 million in the prior quarter;
• GAAP EPS was $0.95 per diluted share, compared to $0.31 per diluted share in the same quarter a year ago and $1.00 per diluted share in the prior quarter;
• Non-GAAP EPS was $1.18 per diluted share, increasing 219% from the $0.37 per diluted share in the third quarter 2025 and 68.6% from the $0.70 per diluted share in the prior quarter;
• Excluding $7.4 million, net of tax, non-cash share-based compensation expense, both GAAP net income and non-GAAP adjusted net income would have increased by $0.16 per diluted share;
• EBITDA was $89.7 million, or 16.8% of revenue, compared to $46.6 million, or 11.9% of revenue in the same quarter a year ago and $83.5 million, or 18.7% of revenue in the prior quarter;
• Achieved $97.2 million cash flow from operations and $43.9 million of free cash flow, including $53.2 million of capital expenditures. Net cash flow was a positive $134.1 million, which includes approximately $35 million for the stock buyback program;
• Successfully completed its acquisition of ElevATE Semiconductor, a leading provider of high-performance integrated circuits for the Automated Test Equipment (ATE) market; and
• Completed a private placement of 0.00% Convertible Senior Notes due 2031 in the aggregate principal amount of $375 million.

Commenting on the results, Gary Yu, President and CEO of Diodes, stated, “Our third quarter revenue reached record levels coupled with an over 500-basis point year-over-year increase in gross margin to 36.1%, driving significant expansion in non-GAAP earnings. Global POS was also a record in the quarter, increasing more than 30% year-over-year. Our sequential revenue growth of more than 19% was primarily driven by record automotive revenue from continued market share gains, stronger demand across broad industrial applications, and sustained momentum in AI ecosystem applications that contributed to record revenue in the computing market. Underpinning this growth is the benefit of the targeted investments we made in capacity expansion over the past year coming online. The resulting increase in loading at our manufacturing facilities also benefited gross margin along with product mix and pricing improvements.

“Based on our current projections for continued growth in the fourth quarter, we expect full year revenue to increase approximately 30% over 2025 at the mid-point. In addition to being well above our historical CAGR of 10%, we continue to see strong demand momentum resulting from our new product initiatives, market share gains as well as increasing content at customers. This anticipated sequential growth is once again coupled with further non-GAAP gross margin expansion of 80 basis points sequentially to 37.0% at the mid-point and increasing earnings leverage as well as strong cash flow generation.”

Third Quarter 2026

Revenue for third quarter 2026 was $532.6 million, an increase of 35.8% from the $392.2 million in the third quarter 2025 and 19.5% over the $445.5 million in the second quarter 2026.

GAAP gross profit for the third quarter 2026 was $192.5 million, or 36.1% of revenue, compared to $120.5 million, or 30.7% of revenue in the third quarter 2025 and $147.6 million, or 33.1% of revenue, in the prior quarter. Non-GAAP gross profit was $192.9 million and non-GAAP gross profit margin was 36.2%, which excluded $0.4 million of inventory accounting associated with the acquisition of ElevATE Semiconductor.

GAAP operating expenses for third quarter 2026 were $129.1 million, or 24.2% of revenue, and on a non-GAAP basis were $122.1 million, or 22.9% of revenue, which excludes $5.2 million acquisition-related intangible asset cost and $1.8 million of acquisition-related costs. GAAP operating expenses in the third quarter 2025 were $108.9 million, or 27.8% of revenue and $114.3 million, or 25.6% of revenue in the second quarter 2026.

Third quarter 2026 GAAP net income was $43.7 million, or $0.95 per diluted share, compared to GAAP net income in the third quarter 2025 of $14.3 million, or $0.31 per diluted share, and GAAP net income in the prior quarter of $46.6 million, or $1.00 per diluted share.

Third quarter 2026 non-GAAP adjusted net income was $54.5 million, or $1.18 per diluted share, which excluded, net of tax, a $7.9 million unrealized loss on investments, $4.2 million of acquisition-related intangible asset amortization cost, $3.0 million gain on disposal of a subsidiary, $1.4 million of acquisition-related costs and $0.3 million of acquisition-related inventory amortization cost. This compares to non-GAAP adjusted net income of $17.2 million, or $0.37 per diluted share, in the third quarter 2025 and $32.5 million, or $0.70 per diluted share, in the prior quarter.

The following is an unaudited summary reconciliation of GAAP net income to non-GAAP adjusted net income and per share data, net of tax (in thousands, except per share data):

		Three Months Ended
		September 30, 2026
Per-GAAP net income		$	43,712
Diluted earnings per share (per-GAAP)		$	0.95
Adjustments to reconcile net income to non-GAAP net income:
Amortization of acquisition-related intangible assets			4,197
Amortization of acquisition-related inventories			340
Unrealized loss on investments			7,881
Acquisition related costs			1,406
(Gain) on disposal of subsidiary			(3,034	)
Non-GAAP adjusted net income		$	54,502
Non-GAAP diluted earnings per share		$	1.18

Note: Throughout this release, we refer to “net income/loss attributable to common stockholders” as “net income/loss.”

(See the reconciliation tables of GAAP net income to non-GAAP adjusted net income near the end of this release for further details.)

Included in third quarter 2026 GAAP and non-GAAP adjusted net income was approximately $7.4 million, net of tax, non-cash share-based compensation expense. Excluding share-based compensation expense, GAAP earnings per share (“EPS”) and non-GAAP adjusted EPS would have increased by $0.16 per share for the third quarter 2026, compared to $0.12 for the third quarter 2025 and $0.19 per share in the prior quarter.

EBITDA (a non-GAAP measure), which represents earnings before net interest expense, income tax, depreciation and amortization, in the third quarter 2026 was $89.7 million, or 16.8% of revenue, compared to $46.6 million, or 11.9% of revenue, in the third quarter 2025 and $83.5 million, or 18.7% of revenue, in the prior quarter. For a reconciliation of GAAP net income to EBITDA, see the table near the end of this release for further details.

For the third quarter 2026, net cash provided by operating activities was $97.2 million. Net cash flow was positive $134.1 million, which includes approximately $35 million for the stock buyback program. Free cash flow (a non-GAAP measure) was $43.9 million, which includes $53.2 million of capital expenditures.

Balance Sheet

As of September 30, 2026, the Company had approximately $578 million in cash and cash equivalents, restricted cash, and short-term investments. Total debt (including long-term and short-term) amounted to approximately $405 million (including $364.9 million from 0.00% Convertible Senior Notes, net of issuance costs) and working capital was approximately $1.1 billion.

The results announced today are preliminary and unaudited, as they are subject to the Company finalizing its closing procedures and completion of the quarterly review by its independent registered public accounting firm. As such, these results are subject to revision until the Company files its Form 10-Q for the quarter ending September 30, 2026.

Business Outlook

Gary Yu further commented, “For the fourth quarter of 2026, we expect to extend our strong growth momentum with revenue expected to increase to approximately $550 million, plus or minus 3%, representing a 40.4% increase year-over-year and a 3.2% increase sequentially at the mid-point. Non-GAAP gross margin is expected to expand to 37.0%, plus or minus 1%. Non-GAAP adjusted EPS is expected to be $1.35, plus or minus $0.10.”

A reconciliation of our forward-looking non-GAAP EPS to the most directly comparable GAAP measures is not provided because such items cannot be reasonably calculated without unreasonable efforts due to the unpredictability of the amounts and timing of events affecting the items we exclude, including acquisition-related intangible asset costs, inventory step-up, board member/officer retirements, acquisition-related costs, restructuring costs, gain/loss on investment, non-cash mark-to-market investment adjustments, impairment of equity investment, and other charges.

Conference Call

Diodes will host a conference call on Thursday November 5, 2026 at 4:00 p.m. Central Time (5:00 p.m. Eastern Time) to discuss its third quarter financial results. Investors and analysts may join the conference call by dialing 1-833-634-2590 (international callers should dial +1-412-317-6038). A telephone replay of the call will be made available approximately two hours after the call and will remain available until November 12, 2026 at midnight Central Time. The replay number is 1-855-669-9658 with an access code of 7633103 followed by the # key. International callers should dial +1-412-317-0088 and enter the same access code at the prompt followed by the # key.

Additionally, this conference call will be broadcast live over the Internet and can be accessed by all interested parties on the Investor Relations section of the Company’s website. To listen to the live call, please go to the investors’ section of Diodes’ website and click on the conference call link at least 15 minutes prior to the start of the call to register, download and install any necessary audio software. For those unable to participate during the live broadcast, a replay will be available shortly after the call on Diodes' website for approximately 90 days.

About Diodes Incorporated

Diodes Incorporated (Nasdaq: DIOD), delivers high-quality semiconductor products to the world’s leading companies in the automotive, industrial, computing, consumer electronics, and communications markets. We leverage our expanded product portfolio of analog and power solutions combined with a flexible hybrid manufacturing model to meet customers’ needs. Our broad range of application-specific products, delivered through a total solutions sales approach and supported by global operations including engineering, testing, manufacturing, and customer service, enable us to be a premier provider for high-growth markets. For more information, visit www.diodes.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such statements include statements containing forward-looking words such as “expect,” “anticipate,” “aim,” “estimate,” and variations thereof, including without limitation statements, whether direct or implied, regarding expectations of that for the fourth quarter of 2026, we expect revenue to be approximately $550 million plus or minus 3%; we expect non-GAAP gross margin to be 37.0%, plus or minus 1%; and non-GAAP adjusted EPS to be $1.35, plus or minus $0.10. Potential risks and uncertainties include, but are not limited to, such factors as: the risk that such expectations may not be met; the risk that the expected benefits of acquisitions may not be realized or that integration of acquired businesses may not continue as rapidly as we anticipate; the risk that we may not be able to maintain our current growth strategy or continue to maintain our current performance, costs, and loadings in our manufacturing facilities; the risk that we may not be able to increase our automotive, industrial, or other revenue and market share; risks of domestic and foreign operations, including excessive operating costs, labor shortages, higher tax rates, and our joint venture prospects; the risks of cyclical downturns in the semiconductor industry and of changes in end-market demand or product mix that may affect gross margin or render inventory obsolete; the risk of unfavorable currency exchange rates; the risk that our future outlook or guidance may be incorrect; the risks of global economic weakness or instability in global financial markets; the risks of trade restrictions, tariffs, or embargoes; the risk of breaches of our information technology systems; and other information, including the “Risk Factors” detailed from time to time in Diodes’ filings with the United States Securities and Exchange Commission.

The Diodes logo is a registered trademark of Diodes Incorporated in the United States and other countries. © 2026 Diodes Incorporated. All Rights Reserved.

DIODES INCORPORATED AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)
	Three Months Ended								Nine Months Ended
	September 30,								September 30,
	2026				2025				2026				2025
Net sales	$	532,587			$	392,170			$	1,383,583			$	1,090,495
Cost of goods sold		340,122				271,682				914,760				749,989
Gross profit		192,465				120,488				468,823				340,506
Operating expenses
Selling, general, and administrative		80,220				60,498				214,307				178,667
Research and development		43,856				41,861				125,122				121,025
Amortization of acquisition related intangible assets		5,162				5,850				13,017				17,513
(Gain) loss on disposal of fixed assets		(185	)			699				(105	)			700
Other operating (income) expense		(1	)			8				14				344
Total operating expense		129,052				108,916				352,355				318,249
Income from operations		63,413				11,572				116,468				22,257
Other income (expense)
Interest income		4,798				8,487				15,791				21,324
Interest expense		(813	)			(503	)			(1,829	)			(1,476	)
Foreign currency (loss), net		(2,977	)			(3,328	)			(7,371	)			(9,943	)
Unrealized (loss) gain on investments		(6,041	)			2,391				16,427				28,004
Impairment of equity investments		-				-				(1,249	)			(5,817	)
Gain on disposal of subsidiary		3,841				-				3,841				13,730
Other income		765				845				1,326				1,825
Total other (expense) income		(427	)			7,892				26,936				47,647
Income before income taxes, equity in net earnings of equity investments, and noncontrolling interest		62,986				19,464				143,404				69,904
Income tax provision		14,091				3,555				24,938				12,638
Equity in net earnings of equity investments		(2,369	)			(432	)			(7,072	)			(416	)
Net income		46,526				15,477				111,394				56,850
Less net income attributable to noncontrolling interest		(2,814	)			(1,199	)			(6,072	)			(911	)
Net income attributable to common stockholders	$	43,712			$	14,278			$	105,322			$	55,939
Earnings per share attributable to common stockholders:
Basic	$	0.95			$	0.31			$	2.29			$	1.21
Diluted	$	0.95			$	0.31				2.27			$	1.20
Number of shares used in earnings per share computation:
Basic		45,878				46,383				45,906				46,384
Diluted		46,247				46,437				46,333				46,454
Note: Throughout this release, we refer to “net income attributable to common stockholders” as “net income.”

DIODES INCORPORATED AND SUBSIDIARIES
RECONCILIATION OF NET INCOME TO ADJUSTED NET INCOME
(in thousands, except per share data)
(unaudited)
For the three months ended September 30, 2026:
		COGS		Operating Expenses		Other (Income) Expense			Income Tax Provision			Net Income
Per-GAAP net income												$	43,712
Diluted earnings per share (per-GAAP)												$	0.95
Adjustments to reconcile net income to non-GAAP net income:
Amortization of acquisition-related intangible assets				5,162					(965	)			4,197
Amortization of acquisition-related inventories		431							(91	)			340
Unrealized loss on investments						8,516			(635	)			7,881
Acquisition related costs				1,779					(373	)			1,406
(Gain) on disposal of subsidiary						(3,841	)		807				(3,034	)
Non-GAAP adjusted net income												$	54,502
Diluted shares used in computing earnings per share													46,247
Non-GAAP diluted earnings per share												$	1.18
Note: Included in GAAP net income and non-GAAP adjusted net income was approximately $7.4 million, net of tax, non-cash share-based compensation expense. Excluding share-based compensation expense, both GAAP and non-GAAP diluted earnings per share would have improved by $0.16 per share.

CONSOLIDATED RECONCILIATION OF NET INCOME TO ADJUSTED NET INCOME – Cont.
(in thousands, except per share data)
(unaudited)
For the three months ended September 30, 2025:
		Operating Expenses		Other (Income) Expense			Income Tax Provision			Net Income
Per-GAAP net income										$	14,278
Diluted earnings per share (per-GAAP)										$	0.31
Adjustments to reconcile net income to non-GAAP net income:
Amortization of acquisition-related intangible assets		5,850					(1,037	)			4,813
Unrealized (gain) on investments				(2,391	)		478				(1,913	)
Non-GAAP adjusted net income										$	17,178
Diluted shares used in computing earnings per share											46,437
Non-GAAP diluted earnings per share										$	0.37
Note: Included in GAAP net income and non-GAAP adjusted net income was approximately $5.4 million, net of tax, non-cash share-based compensation expense. Excluding share-based compensation expense, both GAAP and non-GAAP diluted earnings per share would have improved by $0.12 per share.

DIODES INCORPORATED AND SUBSIDIARIES
CONSOLIDATED RECONCILIATION OF NET INCOME TO ADJUSTED NET INCOME – Cont.
(in thousands, except per share data)
(unaudited)
For the nine months ended September 30, 2026:
		COGS		Operating Expenses		Other (Income) Expense			Income Tax Provision			Net Income
Per-GAAP net income												$	105,322
Diluted earnings per share (per-GAAP)												$	2.27
Adjustments to reconcile net income to non-GAAP net income:
Amortization of acquisition-related intangible assets				13,017					(2,376	)			10,641
Amortization of acquisition-related inventories		431							(91	)			340
Board member/Officer retirement				2,610					(594	)			2,016
Unrealized (gain) on investments						(8,000	)		(2,132	)			(10,132	)
Acquisition related costs				2,044					(429	)			1,615
(Gain) on disposal of subsidiary						(3,841	)		807				(3,034	)
Non-GAAP adjusted net income												$	106,768
Diluted shares used in computing earnings per share													46,333
Non-GAAP diluted earnings per share												$	2.30
Note: Included in GAAP net income and non-GAAP adjusted net income was approximately $22.3 million, net of tax, non-cash share-based compensation expense. Excluding share-based compensation expense, both GAAP and non-GAAP diluted earnings per share would have improved by $0.48 per share.

DIODES INCORPORATED AND SUBSIDIARIES
CONSOLIDATED RECONCILIATION OF NET INCOME TO ADJUSTED NET INCOME – Cont.
(in thousands, except per share data)
(unaudited)
For the nine months ended September 30, 2025:
		Operating Expenses		Other (Income) Expense			Income Tax Provision			Net Income
Per-GAAP net income										$	55,939
Diluted earnings per share (per-GAAP)										$	1.20
Adjustments to reconcile GAAP net income to non-GAAP net income:
Amortization of acquisition-related intangible assets		17,513					(3,102	)			14,411
Acquisition related costs		248					(52	)			196
Restructuring charges		334					(54	)			280
Unrealized (gain) on investments				(22,187	)		4,966				(17,221	)
(Gain) on disposal of subsidiary				(13,681	)		988				(12,693	)
Board member/Officer retirement		117					(25	)			92
Non-GAAP adjusted net income										$	41,004
Diluted shares used in computing earnings per share											46,454
Non-GAAP diluted earnings per share										$	0.88
Note: Included in GAAP net income and non-GAAP adjusted net income was approximately $15.0 million, net of tax, non-cash share-based compensation expense. Excluding share-based compensation expense, both GAAP and non-GAAP diluted earnings per share would have improved by $0.32 per share.

ADJUSTED NET INCOME AND ADJUSTED EARNINGS PER SHARE

The Company’s financial statements present net income and earnings per share that are calculated using accounting principles generally accepted in the United States (“GAAP”). The Company’s management makes adjustments to the GAAP measures that it believes are necessary to allow investors and other readers of the Company’s financial releases to view the Company’s operating results as viewed by the Company’s management, board of directors and research analysts in the semiconductor industry. These non-GAAP measures are not prepared in accordance with, and should not be considered alternatives or necessarily superior to, GAAP financial data and may be different from non-GAAP measures used by other companies. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures, even if they have similar names. The explanation of the adjustments made in the table above, are set forth below:

Detail of non-GAAP adjustments

Amortization of acquisition-related intangible assets – The Company excluded this item, including amortization of developed technologies and customer relationships. The fair value of the acquisition-related intangible assets is amortized using straight-line methods which approximate the proportion of future cash flows estimated to be generated each period over the estimated useful life of the applicable assets. The Company believes that exclusion of this item is appropriate because a significant portion of the purchase price for its acquisitions was allocated to the intangible assets that have short lives and exclusion of the amortization expense allows comparisons of operating results that are consistent over time for both the Company’s newly acquired and long-held businesses. In addition, the Company excluded this item because there is significant variability and unpredictability among companies with respect to this expense.

Amortization of acquisition-related inventories – The Company excluded the inventory valuation adjustment related to purchase accounting associated with the acquisition. This adjustment represents the incremental cost of inventory resulting from the fair value step-up required under acquisition accounting and is excluded from non-GAAP results. The Company believes that exclusion of this item is appropriate because it is directly attributable to the acquisition and is not considered part of ongoing operations.

Board member/Officer retirement – The Company excluded costs related to (1) the retirement of a board member, these costs represent cash payments and the accelerated vesting of previously issued stock awards, (2) the retirement of an officer, these costs represent cash payments and the accelerated vesting of previously issued stock awards. The Company believes it is appropriate to exclude these costs since they don’t represent ongoing operating expenses and will present investors with a more accurate indication of our continuing operations.

Unrealized (gain) loss on investments – The Company excluded unrealized gains and losses on various investments, as well as impairment and mark-to-market adjustments on equity investments. The Company believes these amounts are not reflective on the ongoing operations of the Company and exclusion of these items, provides investors an enhanced view of the Company’s operating results.

Acquisition related costs – The Company excluded expenses associated with previous acquisitions of that typically consist of advisory, legal and other professional and consulting fees. These costs were expensed as they were incurred and as services were received, and in which the corresponding tax adjustments were made for the non-deductible portions of these expenses. The Company believes the exclusion of the acquisition-related costs provides investors with a more accurate reflection of costs likely to be incurred in the absence of an unusual event such as an acquisition and facilitates comparisons with the results of other periods that may not reflect such costs.

(Gain) on disposal of subsidiary – The Company excluded the gain on the disposal of a subsidiary. The Company believes this is not reflective of the ongoing operations and exclusion of this item provides investors an enhanced view of the Company’s operating results.

Restructuring charges – The Company recorded restructuring charges related to various locations. These restructuring charges are excluded from management’s assessment of the Company’s operating performance. The Company believes the exclusion of the restructuring charges provides investors an enhanced view of the cost structure of the Company’s operations and facilitates comparisons with the results of other periods that may not reflect such charges or may reflect different levels of such charges.

CASH FLOW ITEMS

Free cash flow (FCF) (Non-GAAP)

FCF for the third quarter of 2026 is a non-GAAP financial measure, which is calculated by subtracting capital expenditures from cash flow from operations. For the third quarter of 2026, FCF was $43.9 million, which represents the cash and cash equivalents that we are able to generate after taking into account cash outlays required to maintain or expand property, plant and equipment. FCF is important because it allows us to pursue opportunities to develop new products, make acquisitions and reduce debt.

CONSOLIDATED RECONCILIATION OF NET INCOME TO EBITDA

EBITDA represents earnings before net interest expense, income tax provision, depreciation and amortization. Management believes EBITDA is useful to investors because it is frequently used by securities analysts, investors and other interested parties, such as financial institutions in extending credit, in evaluating companies in our industry and provides further clarity on our profitability. In addition, management uses EBITDA, along with other GAAP and non-GAAP measures, in evaluating our operating performance compared to that of other companies in our industry. The calculation of EBITDA generally eliminates the effects of financing, operating in different income tax jurisdictions, and accounting effects of capital spending, including the impact of our asset base, which can differ depending on the book value of assets and the accounting methods used to compute depreciation and amortization expense. EBITDA is not a recognized measurement under GAAP, and when analyzing our operating performance, investors should use EBITDA in addition to, and not as an alternative for, income from operations and net income, each as determined in accordance with GAAP. Because not all companies use identical calculations, our presentation of EBITDA may not be comparable to similarly titled measures used by other companies. For example, our EBITDA takes into account all net interest expense, income tax provision, depreciation and amortization without taking into account any amounts attributable to noncontrolling interest. Furthermore, EBITDA is not intended to be a measure of free cash flow for management’s discretionary use, as it does not consider certain cash requirements such as tax and debt service payments.

The following table provides a reconciliation of net income to EBITDA (in thousands, unaudited):

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2026				2025				2026				2025
Net income (per-GAAP)		$	43,712			$	14,278			$	105,322			$	55,939
Plus:
Interest expense, net			(3,985	)			(7,984	)			(13,962	)			(19,848	)
Income tax provision			14,091				3,555				24,938				12,638
Depreciation and amortization			35,920				36,711				106,365				108,524
EBITDA (non-GAAP)		$	89,738			$	46,560			$	222,663			$	157,253

DIODES INCORPORATED AND SUBSIDIARIES
CONSOLIDATED CONDENSED BALANCE SHEETS
(In thousands, except per share data)
(Unaudited)
		September 30,				December 31,
		2026				2025
Assets
Current assets:
Cash and cash equivalents		$	563,382			$	367,212
Restricted cash			2,768				5,134
Short-term investments			11,468				9,817
Accounts receivable, net of allowances of $4,539 and $4,095, respectively			348,406				307,055
Inventories			535,035				471,546
Prepaid expenses and other			101,662				96,198
Total current assets			1,562,721				1,256,962
Property, plant, and equipment, net			688,017				649,605
Deferred tax assets			66,464				59,297
Goodwill			263,063				183,437
Intangible assets, net			231,380				45,455
Equity investments			163,915				156,272
Operating lease assets			64,957				38,740
Other long-term assets			50,375				58,332
Total assets		$	3,090,892			$	2,448,100
Liabilities
Current liabilities:
Line of credit		$	21,029			$	30,264
Accounts payable			203,849				149,376
Operating lease liabilities, current			14,037				10,666
Accrued liabilities and other			229,914				170,256
Income tax payable			37,897				16,336
Current portion of long-term debt			1,571				1,442
Total current liabilities			508,297				378,340
Long-term debt, net of current portion			381,909				24,224
Deferred tax liabilities			50,318				6,145
Unrecognized tax benefits			21,917				23,454
Operating lease liabilities			52,180				28,890
Other long-term liabilities			54,151				48,638
Total liabilities			1,068,772				509,691
Stockholders' equity
Preferred stock - par value $1.00 per share; 1,000 shares authorized; no shares issued or outstanding			-				-
Common stock - par value $0.66 2/3 per share; 70,000 shares authorized; 56,161 and 55,883 issued; 45,693 and 45,875 outstanding, respectively			37,444				37,259
Additional paid-in capital			555,536				538,087
Retained earnings			1,890,761				1,785,439
Treasury stock, at cost, 10,468 and 10,008 shares, respectively			(417,143	)			(371,914	)
Accumulated other comprehensive loss			(117,300	)			(110,747	)
Stockholders' equity			1,949,298				1,878,124
Noncontrolling interest			72,822				60,285
Total equity			2,022,120				1,938,409
Total liabilities and stockholders' equity		$	3,090,892			$	2,448,100

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20261105674613/en/

Company Contact:
Diodes Incorporated
Gurmeet Dhaliwal
Vice President, Corporate Marketing & IR
P: 408-232-9003
E: Gurmeet_Dhaliwal@diodes.com

Investor Relations Contact:
Shelton Group
Leanne Sievers
President, Investor Relations
P: 949-224-3874
E: lsievers@sheltongroup.com

Source: Diodes Incorporated (F)

Key Terms

ebitda financial

EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.

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free cash flow financial

Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.

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convertible senior notes financial

Convertible senior notes are a type of loan that a company issues to investors, which can be turned into company shares later on. They are called "senior" because they are paid back before other debts if the company runs into trouble. This allows investors to earn interest like a loan but also have the chance to own part of the company if its value rises.

non-gaap financial

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

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