Silvaco Reports Third Quarter 2025 Financial Results
Silvaco (NASDAQ:SVCO) reported record Q3 2025 revenue $18.7M (up 70% YoY) and record gross bookings $22.8M (up 131% YoY). GAAP gross margin was 77.9% (up 326 bps). The company posted a GAAP operating loss of $9.3M and GAAP net loss of $5.3M. Cash and equivalents totaled $27.8M at quarter end. Silvaco closed the acquisition of Mixel Group and launched a company-wide cost reduction program expected to lower annualized non-GAAP operating expenses by at least $15M. Q4 2025 guidance: bookings $15M–$19M, revenue $14M–$18M, non-GAAP gross margin 78%–82%, non-GAAP Opex $16M–$18M.
Silvaco (NASDAQ:SVCO) ha registrato ricavi record nel Q3 2025 di 18,7 milioni di dollari (in crescita del 70% YoY) e ordini lordi rekord di 22,8 milioni di dollari (in aumento del 131% YoY). Il margine lordo GAAP è stato 77,9% (in aumento di 326 bp). L'azienda ha riportato una perdita operativa GAAP di 9,3 milioni di dollari e una perdita netta GAAP di 5,3 milioni di dollari. Le disponibilità liquide ed equivalenti ammontavano a 27,8 milioni di dollari al termine del trimestre. Silvaco ha concluso l'acquisizione del Mixel Group e ha avviato un programma aziendale di taglio dei costi che dovrebbe ridurre le spese operative non-GAAP annualizzate di almeno 15 milioni di dollari. Guida Q4 2025: ordini 15–19 milioni, ricavi 14–18 milioni, margine lordo non-GAAP 78%–82%, Opex non-GAAP 16–18 milioni.
Silvaco (NASDAQ:SVCO) informó ingresos récord en el T3 2025 de 18,7 millones de dólares (un 70% de aumento interanual) y pedidos brutos récord de 22,8 millones de dólares (un 131% de incremento interanual). El margen bruto GAAP fue del 77,9% (un aumento de 326 puntos básicos). La compañía registró una pérdida operativa GAAP de 9,3 millones de dólares y una pérdida neta GAAP de 5,3 millones de dólares. El efectivo y equivalentes totalizaron 27,8 millones de dólares al cierre del trimestre. Silvaco completó la adquisición de Mixel Group y lanzó un programa de reducción de costos a nivel de empresa que se espera reduzca los gastos operativos no-GAAP anuales en al menos 15 millones de dólares. Perspectiva para el Q4 2025: pedidos 15–19 millones, ingresos 14–18 millones, margen bruto no-GAAP 78%–82%, Opex non-GAAP 16–18 millones.
실바코(Silvaco, NASDAQ:SVCO)는 Q3 2025에 18.7백만 달러의 기록적인 매출과 22.8백만 달러의 기록적인 총 예약(브룻 베스트)으로 전년 대비 70% 증가를 기록했습니다. GAAP 총이익률은 77.9%로 326bp 상승했습니다. 회사는 GAAP 영업손실 930만 달러와 GAAP 순손실 530만 달러를 보고했습니다. 현금 및 현금성자산은 분기말에 2780만 달러였습니다. Silvaco는 Mixel Group의 인수를 마무리하고 회사 차원의 비용 절감 프로그램을 시작해 연간화된 비-GAAP 영업비용을 최소 1500만 달러 절감할 것으로 예상합니다. 2025년 4분기 가이던스: 주문 1500만~1900만 달러, 매출 1400만~1800만 달러, 비-GAAP 총이익률 78%~82%, 비-GAAP 영업비용 1600만~1800만 달러.
Silvaco (NASDAQ:SVCO) a enregistré un chiffre d'affaires record au T3 2025 de 18,7 millions de dollars (en hausse de 70% sur un an) et des commandes brutes record de 22,8 millions de dollars (en hausse de 131% sur un an). La marge brute GAAP était de 77,9% (en hausse de 326 points de base). La société a enregistré une perte opérationnelle GAAP de 9,3 millions de dollars et une perte nette GAAP de 5,3 millions de dollars. La trésorerie et équivalents s'élevaient à 27,8 millions de dollars à la fin du trimestre. Silvaco a terminé l'acquisition du Mixel Group et a lancé un programme de réduction des coûts à l'échelle de l'entreprise qui devrait réduire les dépenses opérationnelles non-GAAP annuelles d'au moins 15 millions de dollars. Prévisions pour le Q4 2025 : commandes 15–19 millions, chiffre d'affaires 14–18 millions, marge brute non-GAAP de 78%–82%, Opex non-GAAP de 16–18 millions.
Silvaco (NASDAQ:SVCO) meldete Rekordumsatz im Q3 2025 von 18,7 Mio. USD (YoY +70%) und Rekord-Bruttobestellungen von 22,8 Mio. USD (YoY +131%). GAAP-Bruttomarge betrug 77,9% (Anstieg um 326 Basispunkte). Das Unternehmen verzeichnete GAAP-Betriebsverlust von 9,3 Mio. USD und GAAP-Nettoverlust von 5,3 Mio. USD. Barkonten und Äquivalente beliefen sich zum Quartalsende auf 27,8 Mio. USD. Silvaco schloss die Übernahme der Mixel Group ab und startete ein unternehmensweites Kostensenkungsprogramm, das die jahresbezogenen nicht-GAAP operativen Aufwendungen um mindestens 15 Mio. USD senken soll. Ausblick Q4 2025: Aufträge 15–19 Mio. USD, Umsatz 14–18 Mio. USD, non-GAAP-Bruttomarge 78%–82%, non-GAAP-Opex 16–18 Mio. USD.
Silvaco (NASDAQ:SVCO) أعلنت عن إيرادات قياسية في الربع الثالث 2025 بلغت 18.7 مليون دولار بارتفاع 70% على أساس سنوي، وأوامر إجمالية قياسية بلغت 22.8 مليون دولار بارتفاع 131% على أساس سنوي. هامش إجمالي GAAP كان 77.9% (ارتفاع بمقدار 326 نقطة أساس). أبلغت الشركة عن خسارة تشغيلية GAAP قدرها 9.3 مليون دولار وخسارة صافية GAAP قدرها 5.3 مليون دولار. النقد وما يعادله بلغ 27.8 مليون دولار في نهاية الربع. أكملت Silvaco إغلاق صفقة الاستحواذ على مجموعة Mixel وأطلقت برنامجاً لتخفيض التكاليف على مستوى الشركة من المتوقع أن يخفض النفقات التشغيلية غير-GAAP السنوية بمقدار لا يقل عن 15 مليون دولار. التوجيه للربع الرابع 2025: الأوامر من 15 إلى 19 مليون دولار، والإيرادات من 14 إلى 18 مليون دولار، وهوامش الإجمالي غير-GAAP من 78% إلى 82%، ونفقات التشغيل غير-GAAP من 16 إلى 18 مليون دولار.
- Revenue +70% year-over-year to $18.7M
- Gross bookings +131% year-over-year to $22.8M
- GAAP gross margin 77.9%, up 326 basis points
- Cost program targeting ≥$15M annualized opex reduction
- GAAP operating loss of $9.3M in Q3 2025
- Non-GAAP net loss of $2.1M in Q3 2025
- Quarter-end cash balance only $27.8M
Insights
Record bookings and revenue amid continued GAAP losses; cost cuts aim to bridge to sustained profitability.
Silvaco shows clear top‑line momentum with record gross bookings of
Profitability remains the key dependency. GAAP operating loss widened to
Watch these concrete items over the next two quarters: achieved run‑rate savings from the cost program and any disclosure of realized quarterly expense reductions, fourth‑quarter bookings and revenue versus the guided ranges of
Achieved record gross bookings of
Initiated cost-reduction actions expected to lower annualized non-GAAP operating expenses by at least
SANTA CLARA, Calif., Nov. 12, 2025 (GLOBE NEWSWIRE) -- Silvaco Group, Inc. (Nasdaq: SVCO) (“Silvaco” or the “Company”), a provider of TCAD, EDA software, and SIP solutions that enable innovative semiconductor design and digital twin modeling through AI software and innovation, today announced its third quarter 2025 results.
"I am pleased to report that Silvaco’s third quarter results set records for both revenue and bookings," said Walden Rhines, Silvaco’s Chief Executive Officer. “However, high operating expenses resulted in the company posting an operating loss even at record revenue. Looking forward, we are prioritizing our core growth drivers and strengthening financial and operational discipline to position us for stronger results going forward.”
Chris Zegarelli, Silvaco’s Chief Financial Officer, added, “We have taken steps toward improving financial discipline with a cost reduction program implemented during the fourth quarter. We expect the program will lower operating expenses by at least
Third Quarter 2025 and Recent Business Highlights
- Closed acquisition of Mixel Group, Inc. early in Q3.
- Company-wide cost reduction program initiated, expected to reduce annualized non-GAAP operating expenses by at least
$15 million . - Leadership Update: CEO Walden “Wally” Rhines and CFO Chris Zegarelli joined the company.
- Product and Customer Momentum:
- Jivaro parasitics reduction tool continues to see growing usage among leading semiconductor companies
- Analog Power Conversion LLC adopts Silvaco’s Design Technology Co-Optimization Flow (DTCO) for Next Generation Silicon and Silicon Carbide Power Devices
- Vicor adopts Silvaco’s Victory TCAD™ 3D Simulation Solution for Accurate Power Device Modeling and Simulation
Third Quarter 2025 Financial Results
GAAP Financial Results:
- Revenue of
$18.7 million , up70% year-over-year.- TCAD revenue of
$6.5 million , up1% year-over-year. - EDA revenue of
$10.4 million , up294% year-over-year. - SIP revenue of
$1.7 million , down6% year-over-year.
- TCAD revenue of
- GAAP gross margin of
77.9% , up 326 basis points year-over-year. - GAAP operating loss of
$9.3 million , compared to$7.3 million operating loss in Q3 2024. - GAAP net loss of
$5.3 million , compared to$6.6 million net loss in Q3 2024. - GAAP basic and diluted net loss per share of
$0.18 , compared to net loss per share of$0.23 in Q3 2024. - As of Q3 end, cash, cash equivalents, short term marketable securities and restricted cash totaled
$27.8 million .
Key Operating Indicators and Non-GAAP Financial Results:
- Gross bookings were
$22.8 million , up131% year-over-year. - Non-GAAP gross margin of
81.5% , up 179 basis points year-over-year. - Non-GAAP operating loss of
$2.3 million , compared to$2.6 million loss in Q3 2024. - Non-GAAP net loss of
$2.1 million , compared to a$1.8 million loss in Q3 2024. - Non-GAAP diluted net loss per share of
$0.07 , compared to net loss per share of$0.06 in Q3 2024.
For a discussion of the non-GAAP metrics presented in this press release, as well as a reconciliation of non-GAAP metrics to the nearest comparable GAAP metric, see “Discussion of Non-GAAP Financial Measures” and “GAAP to Non-GAAP Reconciliation” in the accompanying tables below.
Supplementary materials to this press release, including third quarter 2025 financial results, can be found at https://investors.silvaco.com/financial-information/quarterly-results.
Fourth Quarter Financial Outlook
As of November 12, 2025, Silvaco is providing guidance for its fourth quarter of 2025, which represents Silvaco’s current estimates on its operations and financial results. The financial information below represents forward-looking financial information and in some instances forward-looking, non-GAAP financial information, including estimates of Bookings, non-GAAP gross margin and non-GAAP operating expenses. GAAP gross margin is the most comparable GAAP measure to non-GAAP gross margin, GAAP operating expenses are the most comparable GAAP measures to non-GAAP operating expenses. Non-GAAP gross margin differs from GAAP gross margin in that it excludes items such as stock-based compensation expense, amortization of acquired intangible assets, acquisition-related professional fees and retention bonuses, and payroll tax from the IPO lock-up release. Non-GAAP operating expenses differ from GAAP operating expenses in that they exclude items such as acquisition-related litigation settlement and legal costs, stock-based compensation expense, amortization of acquired intangible assets, acquisition-related professional fees and retention bonuses, payroll tax from the IPO lock-up release, IPO preparation costs, and executive severance costs. Silvaco is unable to predict with reasonable certainty the ultimate outcome of these exclusions without unreasonable effort. Therefore, Silvaco has not provided guidance for GAAP gross margin or GAAP operating expenses or a reconciliation of the forward-looking non-GAAP gross margin or non-GAAP operating expenses to GAAP gross margin or GAAP operating income (loss) or GAAP operating expenses, respectively. However, it is important to note that these excluded items could be material to our results computed in accordance with GAAP in future periods.
Based on current business trends and conditions, the Company expects for fourth quarter 2025 the following:
- Bookings in the range of
$15 million to$19 million . - Revenue in the range of
$14 million to$18 million . - Non-GAAP gross margin in the range of
78% to82% . - Non-GAAP operating expenses of
$16 million to$18 million .
Third Quarter 2025 Conference Call Details
A press release highlighting the Company's results along with supplemental financial results will be available at https://investors.silvaco.com/ along with an earnings presentation to accompany management’s prepared remarks. An archived replay of the conference call will be available on this website for a limited time after the call. Participants who want to join the call and ask a question may register for the call here to receive the dial-in numbers and unique PIN.
Date: Wednesday, November 12, 2025
Time: 5:00 p.m. Eastern time
Webcast: Here (live and replay)
About Silvaco
Silvaco is a provider of TCAD, EDA software, and SIP solutions that enable semiconductor design and digital twin modeling through AI software and innovation. Silvaco’s solutions are used for semiconductor and photonics processes, devices, and systems development across display, power devices, automotive, memory, high performance compute, foundries, photonics, internet of things, and 5G/6G mobile markets for complex SoC design. Silvaco is headquartered in Santa Clara, California, and has a global presence with offices located in North America, Europe, Egypt, Brazil, China, Japan, Korea, Singapore, Vietnam, and Taiwan.
Safe Harbor Statement
This press release contains forward-looking statements based on Silvaco's current expectations. The words “believe”, “estimate”, “expect”, “intend”, “anticipate”, “plan”, “project”, “will”, and similar phrases as they relate to Silvaco are intended to identify such forward-looking statements. These forward-looking statements reflect the current views and assumptions of Silvaco and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations.
These forward-looking statements include but are not limited to, statements regarding our future operating results, financial position, and guidance, our business strategy and plans, our objectives for future operations, our development or delivery of new or enhanced products, and anticipated results of those products for our customers, our competitive positioning, projected costs, technological capabilities, and plans, and macroeconomic trends.
A variety of risks and factors that are beyond our control could cause actual results to differ materially from those in the forward-looking statements including, without limitation, the following: (a) market conditions; (b) anticipated trends, challenges and growth in our business and the markets in which we operate; (c) our ability to appropriately respond to changing technologies on a timely and cost-effective basis; (d) the size and growth potential of the markets for our software solutions, and our ability to serve those markets; (e) our expectations regarding competition in our existing and new markets; (f) the level of demand in our customers’ end markets; (g) regulatory developments in the United States and foreign countries; (h) changes in trade policies, including the imposition of tariffs; (i) proposed new software solutions, services or developments; (j) our ability to attract and retain key management personnel; (k) our customer relationships and our ability to retain and expand our customer relationships; (l) our ability to diversify our customer base and develop relationships in new markets; (m) the strategies, prospects, plans, expectations, and objectives of management for future operations; (n) public health crises, pandemics, and epidemics and their effects on our business and our customers’ businesses; (o) the impact of the current conflicts between Ukraine and Russia and Israel and Hamas and the ongoing trade disputes among the United States and China on our business, financial condition or prospects, including extreme volatility in the global capital markets making debt or equity financing more difficult to obtain, more costly or more dilutive, delays and disruptions of the global supply chains and the business activities of our suppliers, distributors, customers and other business partners; (p) changes in general economic or business conditions or economic or demographic trends in the United States and foreign countries including changes in tariffs, interest rates and inflation; (q) our ability to raise additional capital; (r) our ability to accurately forecast demand for our software solutions; (s) our ability to successfully retain key personnel, integrate and realize the benefits of acquisitions; (t) our expectations regarding the period during which we qualify as an emerging growth company under the JOBS Act and as a smaller reporting company under the Exchange Act; (u) our expectations regarding our ability to obtain, maintain, protect and enforce intellectual property protection for our technology; (v) our status as a controlled company; and (w) our use of the net proceeds from our initial public offering.
It is not possible for us to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results or outcomes to differ materially from those contained in any forward-looking statements we may make. Accordingly, you should not rely on any of the forward-looking statements. Additional information relating to the uncertainty affecting Silvaco’s business is contained in Silvaco’s filings with the Securities and Exchange Commission. These documents are available on the SEC Filings section of the Investor Relations section of Silvaco’s website at http://investors.silvaco.com/. These forward-looking statements represent Silvaco’s expectations as of the date of this press release. Subsequent events may cause these expectations to change, and Silvaco disclaims any obligation to update or alter these forward-looking statements in the future, whether as a result of new information, future events or otherwise.
Discussion of Non-GAAP Financial Measures and Other Key Business Metrics
We use certain non-GAAP financial measures and key business metrics to supplement the performance measures in our consolidated financial statements, which are presented in accordance with GAAP. These non-GAAP financial measures include non-GAAP cost of revenue, non-GAAP gross profit, non-GAAP operating income (loss), non-GAAP net income (loss), and non-GAAP diluted net income (loss) per share. Key business metrics include bookings. We use these non-GAAP financial measures and key business metrics for financial and operational decision-making and as a means to assist us in evaluating period-to-period comparisons.
We define non-GAAP cost of revenue and non-GAAP gross profit as our GAAP cost of revenue and GAAP gross profit adjusted to exclude certain costs, including stock-based compensation expense, amortization of acquired intangible assets, acquisition-related professional fees and retention bonuses and payroll tax from the IPO lock-up release. We define non-GAAP operating income (loss), as our GAAP operating income (loss) adjusted to exclude certain costs, including IPO preparation costs, acquisition-related litigation settlement and legal costs, stock-based compensation expense, amortization of acquired intangible assets, payroll tax from the IPO lock-up release, and executive severance costs. We define non-GAAP net income (loss) as our GAAP net income (loss) adjusted to exclude certain costs, including IPO preparation costs, acquisition-related litigation settlement and legal costs, acquisition-related professional fees and retention bonuses, stock-based compensation expense, amortization of acquired intangible assets, payroll tax from the IPO lock-up release, executive severance costs, change in fair value of contingent consideration, foreign exchange (gain) loss, loss on debt extinguishment, and the income tax effect on non-GAAP items. Our non-GAAP diluted net income (loss) per share is calculated in the same way as our non-GAAP net income (loss), but on a per share basis. We monitor non-GAAP cost of revenue, non-GAAP gross profit, non-GAAP operating income (loss), non-GAAP net income (loss) and non-GAAP diluted net income (loss) per share as non-GAAP financial measures to supplement the financial information we present in accordance with GAAP to provide investors with additional information regarding our financial results.
Certain items are excluded from our non-GAAP cost of revenue, non-GAAP gross profit, non-GAAP operating income (loss), non-GAAP net income (loss) and non-GAAP diluted net income (loss) per share because these items are non-cash in nature or are not indicative of our core operating performance and render comparisons with prior periods and competitors less meaningful. We adjust GAAP cost of revenue, GAAP gross profit, GAAP operating income (loss), GAAP net income (loss), and GAAP diluted net income (loss) per share for these items to arrive at non-GAAP cost of revenue, non-GAAP gross profit, non-GAAP operating income (loss), non-GAAP net income (loss), and non-GAAP diluted net income (loss) per share because these amounts can vary substantially from company to company within our industry depending upon accounting methods and book values of assets, capital structure and the method by which the assets were acquired. By excluding certain items that may not be indicative of our recurring core operating results, we believe that non-GAAP cost of revenue, non-GAAP gross profit, non-GAAP operating income (loss), non-GAAP net income (loss) and non-GAAP diluted net income (loss) per share provide meaningful supplemental information regarding our performance.
We believe these non-GAAP financial measures are useful to investors and others because they allow for additional information with respect to financial measures used by management in its financial and operational decision-making and they may be used by our institutional investors and the analyst community to help them analyze our financial performance and the health of our business. However, there are a number of limitations related to the use of non-GAAP financial measures, and these non-GAAP measures should be considered in addition to, not as a substitute for or in isolation from, our financial results prepared in accordance with GAAP. Other companies, including companies in our industry, may calculate these non-GAAP financial measures differently or not at all, which reduces their usefulness as comparative measures.
We define a booking as a signed contract and related purchase commitment from a customer, based on the value set forth in a purchase order. We believe bookings are a useful metric to measure whether we are successful in our sales efforts with new and existing customers and provide an indication of trends in our operating results that are not necessarily reflected in our revenue. Reported bookings may be subject to adjustments and potential cancellations prior to the satisfaction of our customer obligations.
| SILVACO GROUP, INC. | |||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | |||||||
| (Unaudited, in thousands except share and par value amounts) | |||||||
| September 30, 2025 | December 31, 2024 | ||||||
| ASSETS | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 11,945 | $ | 19,606 | |||
| Restricted cash | 12,375 | — | |||||
| Current marketable securities | 3,528 | 63,071 | |||||
| Accounts receivable, net | 7,485 | 9,211 | |||||
| Contract assets, net | 12,576 | 11,932 | |||||
| Prepaid expenses and other current assets | 5,092 | 3,460 | |||||
| Total current assets | 53,001 | 107,280 | |||||
| Non-current assets: | |||||||
| Non-current marketable securities | — | 4,785 | |||||
| Property and equipment, net | 1,693 | 865 | |||||
| Operating lease right-of-use assets, net | 2,745 | 1,711 | |||||
| Intangible assets, net | 27,135 | 4,369 | |||||
| Goodwill | 30,563 | 9,026 | |||||
| Non-current portion of contract assets | 13,906 | 12,611 | |||||
| Other assets | 1,548 | 1,698 | |||||
| Total non-current assets | 77,590 | 35,065 | |||||
| Total assets | $ | 130,591 | $ | 142,345 | |||
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 3,638 | $ | 3,316 | |||
| Accrued expenses and other current liabilities | 23,133 | 19,801 | |||||
| Accrued income taxes | 1,462 | 1,668 | |||||
| Deferred revenue, current | 1,038 | 744 | |||||
| Operating lease liabilities, current | 11,352 | 7,497 | |||||
| Vendor financing obligation, current | 1,139 | 1,462 | |||||
| Total current liabilities | 41,762 | 34,488 | |||||
| Non-current liabilities: | |||||||
| Deferred revenue, non-current | 4,956 | 3,593 | |||||
| Operating lease liabilities, non-current | 1,681 | 946 | |||||
| Vendor financing obligation, non-current | 1,993 | 2,928 | |||||
| Other non-current liabilities | 1,101 | 307 | |||||
| Total liabilities | 51,493 | 42,262 | |||||
| Stockholders' equity: | |||||||
| Preferred stock, | — | — | |||||
| Common stock, | 3 | 3 | |||||
| Additional paid-in capital | 142,766 | 130,360 | |||||
| Accumulated deficit | (61,993 | ) | (28,012 | ) | |||
| Accumulated other comprehensive loss | (1,678 | ) | (2,268 | ) | |||
| Total stockholders' equity | 79,098 | 100,083 | |||||
| Total liabilities and stockholders' equity | $ | 130,591 | $ | 142,345 | |||
| SILVACO GROUP, INC. | |||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF INCOME | |||||||||||||||
| (Unaudited, in thousands except share and per share amounts) | |||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Revenue: | |||||||||||||||
| Software license revenue | $ | 13,757 | $ | 6,840 | $ | 30,983 | $ | 30,121 | |||||||
| Maintenance and service | 4,915 | 4,132 | 13,829 | 11,700 | |||||||||||
| Total revenue | 18,672 | 10,972 | 44,812 | 41,821 | |||||||||||
| Cost of revenue | 4,133 | 2,786 | 10,653 | 9,620 | |||||||||||
| Gross profit | 14,539 | 8,186 | 34,159 | 32,201 | |||||||||||
| Operating expenses: | |||||||||||||||
| Research and development | 8,739 | 4,134 | 19,446 | 15,457 | |||||||||||
| Selling and marketing | 4,266 | 3,834 | 13,699 | 14,317 | |||||||||||
| General and administrative | 10,876 | 7,128 | 27,062 | 30,042 | |||||||||||
| Litigation settlement | — | 392 | 13,069 | 15,088 | |||||||||||
| Total operating expenses | 23,881 | 15,488 | 73,276 | 74,904 | |||||||||||
| Operating loss | (9,342 | ) | (7,302 | ) | (39,117 | ) | (42,703 | ) | |||||||
| Loss on debt extinguishment | — | — | — | (718 | ) | ||||||||||
| Interest income | 316 | 1,217 | 1,830 | 1,899 | |||||||||||
| Interest and other income (expense), net | 82 | (278 | ) | (652 | ) | (832 | ) | ||||||||
| Loss before income tax provision | (8,944 | ) | (6,363 | ) | (37,939 | ) | (42,354 | ) | |||||||
| Income tax (benefit) provision | (3,645 | ) | 188 | (3,958 | ) | 1,207 | |||||||||
| Net loss | $ | (5,299 | ) | $ | (6,551 | ) | $ | (33,981 | ) | $ | (43,561 | ) | |||
| Net loss per share: | |||||||||||||||
| Basic and diluted | $ | (0.18 | ) | $ | (0.23 | ) | $ | (1.16 | ) | $ | (1.77 | ) | |||
| Weighted average shares used in computing per share amounts: | |||||||||||||||
| Basic and diluted | 30,213,143 | 29,048,080 | 29,412,365 | 24,633,030 | |||||||||||
| SILVACO GROUP, INC. | |||||||
| CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS | |||||||
| (Unaudited, in thousands) | |||||||
| Nine Months Ended September 30, | |||||||
| 2025 | 2024 | ||||||
| Cash flows from operating activities: | |||||||
| Net loss | $ | (33,981 | ) | $ | (43,561 | ) | |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||||||
| Depreciation and amortization | 2,242 | 903 | |||||
| Stock-based compensation expense | 7,469 | 24,388 | |||||
| Provision for (reversal of) estimated credit losses | (148 | ) | 154 | ||||
| Litigation settlement | 13,069 | 15,088 | |||||
| Loss on debt extinguishment | — | 718 | |||||
| Accretion of discount on marketable securities, net | (460 | ) | (905 | ) | |||
| Change in fair value of contingent consideration | 69 | (18 | ) | ||||
| Changes in operating assets and liabilities: | |||||||
| Accounts receivable | 3,860 | (1,336 | ) | ||||
| Contract assets | (344 | ) | (4,479 | ) | |||
| Prepaid expenses and other current assets | (908 | ) | (479 | ) | |||
| Other assets | 201 | (12 | ) | ||||
| Accounts payable | (630 | ) | 1,022 | ||||
| Accrued expenses and other current liabilities | (18,752 | ) | (1,108 | ) | |||
| Related party funding of litigation apportionment agreement | 6,000 | — | |||||
| Accrued income taxes | (4,370 | ) | 836 | ||||
| Deferred revenue | 2,127 | (1,887 | ) | ||||
| Other non-current liabilities | 126 | 9 | |||||
| Net cash used in operating activities | (24,430 | ) | (10,667 | ) | |||
| Cash flows from investing activities: | |||||||
| Sales of marketable securities | 29,752 | — | |||||
| Purchases of marketable securities | — | (81,608 | ) | ||||
| Maturities of marketable securities | 34,900 | 9,000 | |||||
| Acquisition of businesses | (32,879 | ) | — | ||||
| Purchases of property and equipment | (580 | ) | (344 | ) | |||
| Net cash provided by (used in) investing activities | 31,193 | (72,952 | ) | ||||
| Cash flows from financing activities: | |||||||
| Proceeds from initial public offering, net of underwriting fees | — | 106,020 | |||||
| Proceeds from issuance of convertible note, net of debt issuance costs | — | 4,852 | |||||
| Proceeds from loan facility | — | 4,250 | |||||
| Repayment of loan facility | — | (4,250 | ) | ||||
| Repayment of related party line of credit | — | (2,000 | ) | ||||
| Deferred transaction costs | — | (2,649 | ) | ||||
| Proceeds from issuance of common stock for share-based awards | 361 | — | |||||
| Payment of payroll taxes related to shares withheld from employees | (1,294 | ) | — | ||||
| Contingent consideration | (46 | ) | (74 | ) | |||
| Payments of vendor financing obligation | (1,259 | ) | (600 | ) | |||
| Net cash (used in) provided by financing activities | (2,238 | ) | 105,549 | ||||
| Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash | 189 | 255 | |||||
| Net increase in cash, cash equivalents and restricted cash | 4,714 | 22,185 | |||||
| Cash, cash equivalents and restricted cash, beginning of period | 19,606 | 4,421 | |||||
| Cash, cash equivalents and restricted cash, end of period | $ | 24,320 | $ | 26,606 | |||
| Cash, cash equivalents and restricted cash: | |||||||
| Cash and cash equivalents | 11,945 | 26,606 | |||||
| Restricted cash | 12,375 | — | |||||
| Total cash, cash equivalents and restricted cash | $ | 24,320 | $ | 26,606 | |||
| SILVACO GROUP, INC. | ||||||||||||||||||
| REVENUE | ||||||||||||||||||
| (Unaudited) | ||||||||||||||||||
| 2024 | 2025 | |||||||||||||||||
| Q1 | Q2 | Q3 | Q4 | Year | Q1 | Q2 | Q3 | |||||||||||
| Revenue by Region: | ||||||||||||||||||
| Americas | 27 | % | 51 | % | 31 | % | 40 | % | 38 | % | 20 | % | 36 | % | 55 | % | ||
| APAC | 62 | % | 41 | % | 58 | % | 52 | % | 53 | % | 66 | % | 57 | % | 40 | % | ||
| EMEA | 11 | % | 8 | % | 11 | % | 8 | % | 9 | % | 14 | % | 7 | % | 5 | % | ||
| Total revenue | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | ||
| Revenue by Product Line: | ||||||||||||||||||
| TCAD | 66 | % | 69 | % | 59 | % | 71 | % | 68 | % | 56 | % | 56 | % | 35 | % | ||
| EDA | 30 | % | 20 | % | 24 | % | 24 | % | 24 | % | 36 | % | 29 | % | 56 | % | ||
| SIP | 4 | % | 11 | % | 17 | % | 5 | % | 8 | % | 8 | % | 15 | % | 9 | % | ||
| Total revenue | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | ||
| Revenue Item Category: | ||||||||||||||||||
| Software license revenue | 77 | % | 74 | % | 62 | % | 78 | % | 74 | % | 71 | % | 60 | % | 74 | % | ||
| Maintenance and service | 23 | % | 26 | % | 38 | % | 22 | % | 26 | % | 29 | % | 40 | % | 26 | % | ||
| Total revenue | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | ||
| Revenue by Country: | ||||||||||||||||||
| United States | 26 | % | 50 | % | 30 | % | 39 | % | 37 | % | 20 | % | 30 | % | 55 | % | ||
| China | 11 | % | 17 | % | 25 | % | 23 | % | 18 | % | 14 | % | 28 | % | 16 | % | ||
| Other | 63 | % | 33 | % | 45 | % | 38 | % | 45 | % | 66 | % | 42 | % | 29 | % | ||
| Total revenue | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | ||
| SILVACO GROUP, INC. | |||||||||||||||
| GAAP to Non-GAAP Reconciliation | |||||||||||||||
| (Unaudited, in thousands except per share amounts) | |||||||||||||||
| Quarter to Date | Year to Date | ||||||||||||||
| 9/30/2025 | 9/30/2024 | 9/30/2025 | 9/30/2024 | ||||||||||||
| GAAP Cost of revenue | $ | 4,133 | $ | 2,786 | $ | 10,653 | $ | 9,620 | |||||||
| Less: Stock-based compensation expense | (402 | ) | (313 | ) | (960 | ) | (2,780 | ) | |||||||
| Less: Amortization of acquired intangible assets | (249 | ) | (249 | ) | (747 | ) | (498 | ) | |||||||
| Less: Acquisition-related professional fees and retention bonus | (32 | ) | — | (99 | ) | — | |||||||||
| Non-GAAP Cost of revenue | $ | 3,450 | $ | 2,224 | $ | 8,847 | $ | 6,342 | |||||||
| GAAP Gross profit | $ | 14,539 | $ | 8,186 | $ | 34,159 | $ | 32,201 | |||||||
| Add: Stock-based compensation expense | 402 | 313 | 960 | 2,780 | |||||||||||
| Add: Amortization of acquired intangible assets | 249 | 249 | 747 | 498 | |||||||||||
| Add: Acquisition-related professional fees and retention bonus | 32 | — | 99 | — | |||||||||||
| Non-GAAP Gross profit | $ | 15,222 | $ | 8,748 | $ | 35,965 | $ | 35,479 | |||||||
| GAAP Research and development | $ | 8,739 | $ | 4,134 | $ | 19,446 | $ | 15,457 | |||||||
| Less: Stock-based compensation expense | (830 | ) | (491 | ) | (1,650 | ) | (4,556 | ) | |||||||
| Less: Acquisition-related professional fees and retention bonus | (91 | ) | — | (286 | ) | — | |||||||||
| Less: Amortization of acquired intangible assets | (150 | ) | (46 | ) | (272 | ) | (163 | ) | |||||||
| Non-GAAP Research and development | $ | 7,668 | $ | 3,597 | $ | 17,238 | $ | 10,738 | |||||||
| GAAP Selling and marketing | $ | 4,266 | $ | 3,834 | $ | 13,699 | $ | 14,317 | |||||||
| Less: Stock-based compensation expense | (354 | ) | (379 | ) | (1,088 | ) | (3,931 | ) | |||||||
| Less: IPO preparation costs | — | — | — | (178 | ) | ||||||||||
| Non-GAAP Selling and marketing | $ | 3,912 | $ | 3,455 | $ | 12,611 | $ | 10,208 | |||||||
| GAAP General and administrative | $ | 10,876 | $ | 7,128 | $ | 27,062 | $ | 30,042 | |||||||
| Less: Stock-based compensation expense | (1,486 | ) | (1,376 | ) | (3,771 | ) | (13,121 | ) | |||||||
| Less: Acquisition-related litigation settlement and legal costs | (4 | ) | (1,491 | ) | (1,034 | ) | (4,106 | ) | |||||||
| Less: Acquisition-related professional fees and retention bonus | (1,440 | ) | — | (3,317 | ) | — | |||||||||
| Less: Amortization of acquired intangible assets | (580 | ) | — | (944 | ) | — | |||||||||
| Less: Executive severance | (1,392 | ) | — | (1,392 | ) | — | |||||||||
| Less: IPO preparation costs | — | — | — | (695 | ) | ||||||||||
| Non-GAAP General and administrative | $ | 5,974 | $ | 4,261 | $ | 16,604 | $ | 12,120 | |||||||
| GAAP Litigation settlement | $ | — | 392 | 13,069 | 15,088 | ||||||||||
| Less: Acquisition-related litigation settlement and legal costs | — | (392 | ) | (13,069 | ) | (15,088 | ) | ||||||||
| Non-GAAP Litigation settlement | $ | — | $ | — | $ | — | $ | — | |||||||
| GAAP Operating expenses | $ | 23,881 | $ | 15,488 | $ | 73,276 | $ | 74,904 | |||||||
| Less: Stock-based compensation expense | (2,670 | ) | (2,246 | ) | (6,509 | ) | (21,608 | ) | |||||||
| Less: Acquisition-related litigation settlement and legal costs | (4 | ) | (1,883 | ) | (14,103 | ) | (19,194 | ) | |||||||
| Less: Acquisition-related professional fees and retention bonus | (1,531 | ) | — | (3,603 | ) | — | |||||||||
| Less: IPO preparation costs | — | — | — | (873 | ) | ||||||||||
| Less: Executive severance | (1,392 | ) | — | (1,392 | ) | — | |||||||||
| Less: Amortization of acquired intangible assets | (730 | ) | (46 | ) | (1,216 | ) | (163 | ) | |||||||
| Non-GAAP Operating expenses | $ | 17,554 | $ | 11,313 | $ | 46,453 | $ | 33,066 | |||||||
| GAAP Operating loss | $ | (9,342 | ) | $ | (7,302 | ) | $ | (39,117 | ) | $ | (42,703 | ) | |||
| Add: Stock-based compensation expense | 3,072 | 2,559 | 7,469 | 24,388 | |||||||||||
| Add: Acquisition-related litigation settlement and legal costs | 4 | 1,883 | 14,103 | 19,194 | |||||||||||
| Add: Acquisition-related professional fees and retention bonus | 1,563 | — | 3,702 | — | |||||||||||
| Add: IPO preparation costs | — | — | — | 873 | |||||||||||
| Add: Executive severance | 1,392 | — | 1,392 | — | |||||||||||
| Add: Amortization of acquired intangible assets | 979 | 295 | 1,963 | 661 | |||||||||||
| Non-GAAP Operating (loss) income | $ | (2,332 | ) | $ | (2,565 | ) | $ | (10,488 | ) | $ | 2,413 | ||||
| GAAP Net loss | $ | (5,299 | ) | $ | (6,551 | ) | $ | (33,981 | ) | $ | (43,561 | ) | |||
| Add: Stock-based compensation expense | 3,072 | 2,559 | 7,469 | 24,388 | |||||||||||
| Add: Acquisition-related litigation settlement and legal costs | 4 | 1,883 | 14,103 | 19,194 | |||||||||||
| Add: Acquisition-related professional fees and retention bonus | 1,563 | — | 3,702 | — | |||||||||||
| Add: IPO preparation costs | — | — | — | 873 | |||||||||||
| Add: Amortization of acquired intangible assets | 979 | 295 | 1,963 | 661 | |||||||||||
| Add: Loss on debt extinguishment | — | — | — | 718 | |||||||||||
| Add (Less): Change in fair value of contingent consideration | 16 | — | 68 | (18 | ) | ||||||||||
| Add: Foreign exchange (gain) loss | (197 | ) | 174 | 350 | 418 | ||||||||||
| Add: Executive severance | 1,392 | — | 1,392 | — | |||||||||||
| Less: Income tax effect of non-GAAP adjustment | (3,592 | ) | (189 | ) | (4,170 | ) | (265 | ) | |||||||
| Non-GAAP Net (loss) income | $ | (2,062 | ) | $ | (1,829 | ) | $ | (9,104 | ) | $ | 2,408 | ||||
| GAAP Net loss per share: | |||||||||||||||
| Basic and diluted: | $ | (0.18 | ) | $ | (0.23 | ) | $ | (1.16 | ) | $ | (1.77 | ) | |||
| Non-GAAP Net income (loss) per share: | |||||||||||||||
| Basic | $ | (0.07 | ) | $ | (0.06 | ) | $ | (0.31 | ) | $ | 0.10 | ||||
| Diluted | $ | (0.07 | ) | $ | (0.06 | ) | $ | (0.31 | ) | $ | 0.09 | ||||
| Weighted average shares used in GAAP and non-GAAP net income (loss) per share: | |||||||||||||||
| Basic | 30,213,143 | 29,048,080 | 29,412,365 | 24,633,030 | |||||||||||
| Diluted | 30,213,143 | 29,048,080 | 29,412,365 | 26,244,892 | |||||||||||
Investor Contact:
Greg McNiff
investors@silvaco.com
Media Contact:
Tiffany Behany
press@silvaco.com
FAQ
What were Silvaco's Q3 2025 revenue and bookings (SVCO)?
How much will Silvaco's cost reduction program (SVCO) save annually?
What guidance did Silvaco give for Q4 2025 revenue and bookings (SVCO)?
What was Silvaco's Q3 2025 GAAP operating loss and net loss per share (SVCO)?
How much cash did Silvaco have at the end of Q3 2025 (SVCO)?
Did Silvaco complete any acquisitions in Q3 2025 (SVCO)?
What are Silvaco's expected non-GAAP operating expenses for Q4 2025 (SVCO)?
