SemiLEDs Corp Files 10-Q for Period Ending February 29, 2024

TL;DR

<b>SemiLEDs Corp has submitted its quarterly 10-Q filing, providing an update on its financial position as of February 29, 2024.</b>

AI Summary

SemiLEDs Corp (LEDS) filed a Quarterly Report (10-Q) with the SEC on April 12, 2024. SemiLEDs Corp filed a 10-Q report for the period ending February 29, 2024. The filing covers the second quarter of the fiscal year. Key dates and financial reporting periods are detailed within the filing. The company's fiscal year ends on August 31st. The filing includes information related to common stock, additional paid-in capital, and retained earnings.

Why It Matters

For investors and stakeholders tracking SemiLEDs Corp, this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and operational details for SemiLEDs Corp, crucial for understanding the company's trajectory in the semiconductor industry. The detailed financial information, including balance sheet items and equity changes, allows stakeholders to assess the company's financial health and make informed investment decisions.

Risk Assessment

Risk Level: low — SemiLEDs Corp shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial disclosures without immediate indicators of significant new risks or positive developments.

Analyst Insight

Monitor future 10-Q filings for trends in revenue, expenses, and profitability to assess SemiLEDs Corp's ongoing performance.

Key Numbers

• 2024-02-29 — Reporting Period End Date (Conformed period of report)
• 2024-04-12 — Filing Date (Filed as of date)
• 08-31 — Fiscal Year End (Company's fiscal year end)
• Q2 — Quarter (Indicates the filing is for the second quarter)

Key Players & Entities

• SemiLEDs Corp (company) — Filer of the 10-Q report
• 2024-02-29 (date) — Conformed period of report
• 2024-04-12 (date) — Filed as of date
• 0000950170-24-043853 (filing_id) — Accession number for the filing
• YiYang Optoelectronics Co Ltd (company) — Mentioned in relation to financial reporting periods
• Roth Capital Partners LLC (company) — Mentioned in relation to sales agreements
• Simplot Taiwan Inc (company) — Mentioned in relation to loan agreements
• Trung Doan (person) — Mentioned in relation to loan agreements

FAQ

Industry Context

SemiLEDs Corp operates in the semiconductor industry, specifically focusing on Light Emitting Diodes (LEDs). This sector is characterized by rapid technological advancements and global competition.

Regulatory Implications

The filing is a standard 10-Q, a quarterly report required by the U.S. Securities and Exchange Commission (SEC) for publicly traded companies to provide updates on their financial condition.

What Investors Should Do

1. Review the full 10-Q document for detailed financial statements and management discussion.
2. Compare the reported figures with previous quarters and the same period last year to identify trends.
3. Analyze any disclosed risk factors or legal proceedings for potential impacts on the company.

Year-Over-Year Comparison

This filing represents the quarterly update for the period ending February 29, 2024, following previous filings which would have covered earlier periods.

Key Financial Figures

• $0.0000056 — ch registered Common Stock, par value $0.0000056 LEDS The Nasdaq Stock Market Indi

Filing Documents

• leds-20240229.htm (10-Q) — 1841KB
• leds-ex31_1.htm (EX-31.1) — 12KB
• leds-ex31_2.htm (EX-31.2) — 12KB
• leds-ex32_1.htm (EX-32.1) — 7KB
• leds-ex32_2.htm (EX-32.2) — 7KB
• 0000950170-24-043853.txt (&nbsp;) — 6777KB
• leds-20240229.xsd (EX-101.SCH) — 862KB
• leds-20240229_htm.xml (XML) — 1094KB

Financial Information

Part I. Financial Information Item 1.

Financial Statements

Financial Statements 1 Unaudited Condensed Consolidated Balance Sheets as of February 29, 2024 and August 31, 2023 1 Unaudited Condensed Consolidated Statements of Operations for the three and six months ended February 29, 2024 and February 28, 2023 2 Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) for the three and six months ended February 29, 2024 and February 28, 202 3 3 Unaudited Condensed Consolidated Statement of Changes in Equity for the three and six months ended February 29, 2024 and February 28, 202 3 4 Unaudited Condensed Consolidated Statements of Cash Flows for the six months ended February 29, 2024 and February 28, 2023 5 Notes to Unaudited Condensed Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 31 Item 4.

Controls and Procedures

Controls and Procedures 31

Other Information

Part II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 33 Item 1A.

Risk Factors

Risk Factors 33 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 34 Item 3. Defaults Upon Senior Securities 34 Item 4. Mine Safety Disclosures 34 Item 5. Other Information 34 Item 6. Exhibits 35

Signatures

Signatures 36 Table of Contents

— FINA NCIAL INFORMATION

PART I — FINA NCIAL INFORMATION

Finan cial Statements

Item 1. Finan cial Statements SEMILEDS CORPORATION AND SUBSIDIARIES Unaudited Condensed Co nsolidated Balance Sheets (In thousands of U.S. dollars and shares, except par value) February 29, August 31, 2024 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 1,613 $ 2,572 Restricted cash and cash equivalents 79 78 Accounts receivable (including related parties), net of allowance for doubtful accounts of $ 175 and $ 173 as of February 29, 2024 and August 31, 2023, respectively 748 793 Inventories 3,751 4,022 Prepaid expenses and other current assets 245 129 Total current assets 6,436 7,594 Property, plant and equipment, net 2,996 3,233 Operating lease right of use assets 1,313 1,371 Intangible assets, net 96 97 Investments in unconsolidated entities 986 974 Other assets 192 186 TOTAL ASSETS $ 12,019 $ 13,455 LIABILITIES AND EQUITY CURRENT LIABILITIES: Current installments of long-term debt $ 2,859 $ 5,042 Accounts payable 179 436 Accrued expenses and other current liabilities 2,562 2,711 Other payable to related parties 904 1,374 Operating lease liabilities, current 132 139 Total current liabilities 6,636 9,702 Long-term debt, excluding current installments 1,110 1,327 Operating lease liabilities, less current portion 1,181 1,232 Total liabilities 8,927 12,261 Commitments and contingencies (Note 5) EQUITY: SemiLEDs stockholders' equity Common stock, $ 0.0000056 par value— 7,500 shares authorized; 7,175 shares and 4,941 shares issued and outstanding as of February 29, 2024 and August 31, 2023, respectively — — Additional paid-in capital 187,275 184,246 Accumulated other comprehensive income 3,571 3,550 Accumulated deficit ( 187,802 ) ( 186,645 ) Total SemiLEDs stockholders' equity 3,044 1,151 Noncontrolling interests 48 43 Total equity 3,092 1,194 TOTAL L

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View this 10-Q filing on SEC EDGAR