GigaMedia Limited announced its unaudited financial results for the first quarter ended March 31, 2025, on May 5, 2025. The company reported revenues of $0.86 million, marking a 13.8% increase from $0.755 million in the previous quarter and an 18.5% increase from $0.725 million in the first quarter of 2024. Gross profit for the quarter was $0.46 million, up 15.6% sequentially and 32.9% year-over-year.
The net loss for the first quarter of 2025 was $0.68 million, which is an improvement from a net loss of $0.902 million in the first quarter of 2024. Diluted net loss per share was $0.06, compared to $0.08 in the same period last year. The company continued its efforts in rightsizing its workforce and consolidating resources to enhance productivity.
As of March 31, 2025, GigaMedia maintained a solid financial position with cash, cash equivalents, and restricted cash amounting to $31.40 million, or approximately $2.84 per share. This represents a decrease from $35.094 million at the end of December 2024.
CEO James Huang acknowledged the widespread economic uncertainty impacting consumer sentiment and entertainment spending. However, he expressed confidence in the company's strategy of boosting productivity with a leaner team and expanding its customer base through effective marketing.
Management also stated its continued exploration of possibilities for business expansion through strategic investments, indicating a more aggressive yet prudent approach to pursuing promising investment opportunities to create greater shareholder value.
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