Alpha and Omega Semiconductor Limited (AOSL) reported revenue of $164.6 million for the fiscal third quarter ended March 31, 2025, representing a 9.7% increase year-over-year but a 4.9% sequential decline. Non-GAAP gross margin was 22.5%, down from 24.2% in the prior quarter and 25.2% a year ago, primarily due to ASP erosion, higher material costs, and a less favorable product mix.
The company reported a GAAP net loss of $10.8 million, or $0.37 per diluted share. The Computing segment, representing 47.9% of total revenue, saw a robust 14.8% year-over-year increase, driven by strong demand in tablets and graphics/AI accelerated cards. A significant design win with a premier customer in a data center application, featuring increased BOM content, commenced volume production in Q3 2025.
For the fiscal fourth quarter 2025, AOSL guided for revenue of approximately $170 million, plus or minus $10 million, expecting low to mid single-digit sequential growth. Non-GAAP gross margins are anticipated to recover to approximately 24%, plus or minus 1%. The company also disclosed an ongoing Department of Commerce (DOC) investigation regarding export control regulations, with allegations of administrative violations received on April 16, 2025.
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