SemiLEDs (NASDAQ: LEDS) Q2 2026 sales drop as net loss narrows
Rhea-AI Filing Summary
SemiLEDs Corporation reported weak results for its second quarter of fiscal 2026, ended February 28, 2026. Revenue fell to $1.1 million from $2.6 million in the first quarter, mainly because there were no buy-sell equipment orders in the period.
The company posted a GAAP net loss attributable to stockholders of $603 thousand, or $(0.07) per diluted share, an improvement from a $742 thousand loss, or $(0.09) per share, in the prior quarter. GAAP gross margin stayed low at 1%, while operating margin worsened to about -79%, reflecting limited scale against fixed costs.
Cash and cash equivalents increased to $4.0 million as of February 28, 2026, up from $2.9 million at November 30, 2025, helping support operations despite ongoing losses. Management attributed the revenue decline to timing of equipment-related orders and stated it anticipates buy-sell purchase orders in the second half of fiscal 2026.
Positive
- None.
Negative
- Revenue and operating performance weakened: Q2 fiscal 2026 revenue dropped to $1.1 million from $2.6 million in Q1, and operating margin deteriorated to roughly -79%, underscoring ongoing scale and profitability challenges despite only modest net-loss improvement.
Insights
Revenue dropped sharply while losses and liquidity showed modest improvement.
SemiLEDs reported Q2 fiscal 2026 revenue of $1.1 million, down from $2.6 million in Q1. That cut in volume left the business at a 1% gross margin and an operating margin near -79%, highlighting how sensitive results are to order timing.
Despite the revenue hit, GAAP net loss narrowed to $603 thousand from $742 thousand, helped by $242 thousand in net other income. Cash and cash equivalents rose to $4.0 million at February 28, 2026, giving some short-term cushion even as total shareholders’ equity slipped to $1.5 million.
Management blamed the revenue decline on the absence of buy-sell equipment orders and indicated it anticipates such orders in the second half of fiscal 2026. Actual performance will depend on whether those orders materialize and whether margins can improve from today’s very low levels.
8-K Event Classification
Key Figures
Key Terms
operating margin financial
accumulated deficit financial
cash and cash equivalents financial
forward-looking statements regulatory
operating lease liabilities financial
Offering Details
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Securities registered pursuant to Section 12(b) of the Act:
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
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Item 2.02. Results of Operations and Financial Condition.
On April 14, 2026, SemiLEDs Corporation issued a press release announcing its preliminary financial results for the second quarter ended February 28, 2026.
Such information is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. |
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Description |
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99.1 |
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Press release, dated April 14, 2026, entitled “SemiLEDs Reports Second Quarter Fiscal Year 2026 Financial Results.” |
104 |
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Cover Page Interactive Data File - the cover page iXBRL tags are embedded within the Inline XBRL document. |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Date: April 14, 2026 |
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SemiLEDs Corporation |
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By: |
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/s/ Christopher Lee |
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Name: |
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Christopher Lee |
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Title: |
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Chief Financial Officer |
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Exhibit 99.1
SemiLEDs Reports Second Quarter Fiscal Year 2026
Financial Results
Hsinchu, Taiwan (April 14, 2026)— SemiLEDs Corporation (NASDAQ: LEDS), “SemiLEDs” or the “Company,” a developer and manufacturer of LED chips and LED components, today announced its financial results for the second quarter of fiscal year 2026, ended February 28, 2026.
Revenue for the second quarter of fiscal 2026 was $1.1 million, compared to $2.6 million in the first quarter of fiscal 2026. GAAP net loss attributable to SemiLEDs stockholders for the second quarter of fiscal 2026 was $603 thousand, or $(0.07) per diluted share, compared to a net loss of $742 thousand, or $(0.09) per diluted share, in the first quarter of fiscal 2026.
GAAP gross margin for the second quarter of fiscal 2026 was 1%, compared to 1% for the first quarter of fiscal 2026. Operating margin for the second quarter of fiscal 2026 was negative 79%, compared with negative 39% for the first quarter of fiscal 2026. The Company’s cash and cash equivalents were $4.0 million at February 28, 2026, compared to $2.9 million at the end of the first quarter of fiscal 2026.
Our revenue was lower in the second quarter of fiscal 2026 compared to the first quarter of fiscal 2026, due to the absence of any buy-sell purchase orders of equipment. We anticipate buy-sell purchase orders in the second half of fiscal 2026.
About SemiLEDs
SemiLEDs develops and manufactures LED chips and LED components for general lighting applications, including street lights and commercial, industrial, system and residential lighting, along with specialty industrial applications such as ultraviolet (UV) curing, medical/cosmetic, counterfeit detection, horticulture, architectural lighting and entertainment lighting. SemiLEDs sells blue, white, green and UV LED chips.
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Forward Looking Statements
This press release contains statements that may constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact could be deemed forward-looking, including any statements regarding the expectation of buy-sell orders in the second half of fiscal 2026; any statements about historical results that may suggest trends for SemiLEDs’ business; any statements of the plans, strategies and objectives of management for future operations; any statements of expectation or belief regarding recovery of the LED industry, market opportunities and other future events or technology developments; any statements regarding SemiLEDs’ position to capitalize on any market opportunities; and any statements of assumptions underlying any of the foregoing. These forward-looking statements are based on current expectations, estimates, forecasts and projections of future SemiLEDs’ or industry performance based on management’s judgment, beliefs, current trends and market conditions and involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. SemiLEDs’ Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) and other SemiLEDs filings with the SEC (which you may obtain for free at the SEC’s website at http://www.sec.gov) discuss some of the important risks and other factors that may affect SemiLEDs’ business, results of operations and financial condition. SemiLEDs undertakes no intent or obligation to publicly update or revise any of these forward looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Contacts:
Christopher Lee |
Chief Financial Officer |
SemiLEDs Corporation |
+886-37-586788 |
investor@semileds.com |
2
SEMILEDS CORPORATION AND SUBSIDIARIES
Unaudited Condensed Consolidated Balance Sheets
(In thousands of U.S. dollars)
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February 28, |
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November 30, |
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2026 |
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2025 |
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ASSETS |
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CURRENT ASSETS: |
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Cash and cash equivalents |
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$ |
3,978 |
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$ |
2,889 |
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Accounts receivable (including related parties), net |
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1,649 |
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1,867 |
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Inventories |
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4,885 |
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3,923 |
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Prepaid expenses and other current assets |
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1,937 |
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1,567 |
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Total current assets |
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12,449 |
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10,246 |
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Property, plant and equipment, net |
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2,353 |
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2,497 |
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Operating lease right of use assets |
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1,047 |
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1,076 |
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Intangible assets, net |
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110 |
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109 |
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Investments in unconsolidated entities |
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49 |
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55 |
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Other assets |
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252 |
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248 |
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TOTAL ASSETS |
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$ |
16,260 |
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$ |
14,231 |
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LIABILITIES AND EQUITY |
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CURRENT LIABILITIES: |
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Current installments of long-term debt |
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$ |
1,265 |
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$ |
1,262 |
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Accounts payable |
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2,157 |
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1,586 |
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Accrued expenses and other current liabilities |
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8,924 |
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6,778 |
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Other payable to related parties |
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1,170 |
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1,152 |
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Operating lease liabilities, current |
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127 |
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139 |
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Total current liabilities |
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13,643 |
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10,917 |
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Long-term debt, excluding current installments |
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193 |
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308 |
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Operating lease liabilities, less current portion |
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920 |
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937 |
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Total liabilities |
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14,756 |
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12,162 |
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SHAREHOLDERS‘ EQUITY: |
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Common stock |
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— |
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— |
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Additional paid-in capital |
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189,020 |
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188,978 |
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Accumulated other comprehensive income |
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3,640 |
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3,644 |
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Accumulated deficit |
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(191,156 |
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(190,553 |
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Total shareholders' equity |
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1,504 |
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2,069 |
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TOTAL LIABILITIES AND EQUITY |
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$ |
16,260 |
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$ |
14,231 |
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3
SEMILEDS CORPORATION AND SUBSIDIARIES
Unaudited Condensed Consolidated Statements of Operations
(In thousands of U.S. dollars and shares, except per share data)
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Three Months Ended |
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February 28, |
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November 30, |
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2026 |
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2025 |
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Revenues, net |
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$ |
1,064 |
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$ |
2,569 |
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Cost of revenues |
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1,058 |
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2,551 |
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Gross profit |
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6 |
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18 |
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Operating expenses: |
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Research and development |
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276 |
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356 |
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Selling, general and administrative |
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575 |
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703 |
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Gain on disposals of long-lived assets |
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— |
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(30 |
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Total operating expenses |
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851 |
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1,029 |
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Loss from operations |
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(845 |
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(1,011 |
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Other income (expenses): |
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Investment loss |
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(6 |
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(9 |
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Interest expenses, net |
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(22 |
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(12 |
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Other income, net |
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275 |
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269 |
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Foreign currency transaction (loss) gain, net |
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(5 |
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21 |
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Total other income, net |
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242 |
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269 |
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Loss before income taxes |
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(603 |
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(742 |
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Income tax expense |
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— |
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— |
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Net loss |
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(603 |
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(742 |
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Net loss attributable to SemiLEDs stockholders |
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$ |
(603 |
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$ |
(742 |
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Net loss per share attributable to SemiLEDs stockholders: |
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Basic and diluted |
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$ |
(0.07 |
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$ |
(0.09 |
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Shares used in computing net loss per share attributable to SemiLEDs stockholders: |
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Basic and diluted |
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8,225 |
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8,226 |
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4