Jul. 29 at 12:25 PM
$SILC Silicom reports Q2 non-GAAP EPS (14c) vs. 66c last year
Reports Q2 revenue
$14.5M vs
$38.1M. last year. CEO Liron Eizenman commented, "Q2 was another period of focused execution in line with our Strategic Plan, which has stabilized our expenses and brought a clear focus to our sales and R&D activities. As a result, we now have an exceptionally broad and deep pipeline of high-potential sales opportunities, making us even more optimistic about our long-term prospects. In parallel, however, we continue to be impacted by the market's slowed sales cycles, which have significantly lengthened the timeframes of our Design Win processes and sales ramp-ups.
This is having a negative impact on our revenues that is likely to persist for several more quarters through 2024 and 2025. As such, we have now extended our Strategic Plan by one year, with strong annual growth rates of 20%-30% expected to materialize from 2026 and to lead to over
$3 EPS on annual revenues of
$150M-
$160M. While our guidance is conservative, we are excited by the upside potential of our pipeline, whose many opportunities could each generate annual revenues of
$5M-
$20M...As we pursue these opportunities, we continue with the strict discipline, focus and control that has enabled us to remain cash positive throughout this challenging period. We have 'right-sized' our workforce, continue to optimize our inventory, and currently hold
$78M in cash..."
