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SemiLEDs (LEDS) earnings and revenue breakdown

Latest: Q3 FY26 · 10-Q filed Jul 14, 2026 · SemiLEDs (LEDS) Q3 FY26 earnings results →

Q3 FY26 Revenue down 49% year over year to $9.1M · 17¢ of every $1 of revenue kept as net profit · operating margin 15.6%

SemiLEDs made $9.1M in Q3 FY26 (-49% Y/Y). Operating margin 15.6%, net earnings $1.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Jul 14, 2026.

Revenue$9.1M
Year over year-49%
Operating margin15.6%
Net earnings$1.5M
Operating cash flow$2.2M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $9.1M in Q3 FY26, down 49% year over year and up 753% from the previous quarter.

Gross margin was 27.1%, up 21.8 points from Q3 FY25. Operating profit was $1.4M, a 15.6% margin (up 15.9 points year over year). Operating expenses grew 4% against a revenue fall of 49%. The fastest-growing cost line was Research & development (+24%). Net earnings were $1.5M, up 583% year over year. The effective tax rate was 0.0%.

Operating cash flow was $2.2M (up 217% year over year), 144% of net earnings. Non-cash charges added back $172K of depreciation and amortization and $43K of share-based compensation. Working capital and other items added $459K. Capital expenditures of $87K left free cash flow of $2.1M.

Quarterly history

SemiLEDs revenue by quarterSemiLEDs revenue by quarter$1.3MQ4 FY24$10.9MQ2 FY25$17.7MQ3 FY25$13.2MQ4 FY25$2.6MQ1 FY26$1.1MQ2 FY26$9.1MQ3 FY26
SemiLEDs net earnings by quarterSemiLEDs net earnings by quarter−$562KQ4 FY24$388KQ2 FY25$223KQ3 FY25−$1.2MQ4 FY25−$742KQ1 FY26−$603KQ2 FY26$1.5MQ3 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 FY2610-QJul 14, 2026$9.1M-49%15.6%$1.5M$2.2M
Q2 FY2610-QApr 14, 2026$1.1M-90%-79.4%−$603K$1.2M
Q1 FY2610-QJan 14, 2026$2.6M+104%-39.4%−$742K$361K
Q4 FY2510-KNov 28, 2025$13.2M+899%-7.5%−$1.2M$260K
Q3 FY2510-QJul 14, 2025$17.7M13×-0.4%$223K$693K
Q2 FY2510-QApr 11, 2025$10.9M12×1.0%$388K$1.4M
Q4 FY2410-KNov 27, 2024$1.3M-9%-58.6%−$562K$209K

Charts

SemiLEDs: revenue growth, year over year and quarter over quarterSemiLEDs: revenue growth, year over year and quarter over quarterY/YQ/Q-9%Q4 FY24+400%+400%Q2 FY25+400%+62%Q3 FY25+400%-25%Q4 FY25+104%-81%Q1 FY26-90%-59%Q2 FY26-49%+400%Q3 FY26
Latest (Q3 FY26): Y/Y -49%, Q/Q +400%.
SemiLEDs: where the cash came from (+) and went (−), TTM to Q3 FY26SemiLEDs: where the cash came from (+) and went (−), TTM to Q3 FY26Operating cash flow$4.0MCash drawn (+) / kept (−)−$3.5MNet borrowing (+) / repaid (−)−$465KCapital spending−$152KExchange rates$87KOther investing$25KNot reconciled$12K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
SemiLEDs: profit against cash, quarter by quarterSemiLEDs: profit against cash, quarter by quarterNet incomeOperating cash flow−$562K$209KQ4 FY24−$547K−$158KQ1 FY25$388K$1.4MQ2 FY25$223K$693KQ3 FY25−$1.2M$260KQ4 FY25−$742K$361KQ1 FY26−$603K$1.2MQ2 FY26$1.5M$2.2MQ3 FY26
Latest (Q3 FY26): Net income $1.5M, Operating cash flow $2.2M.
SemiLEDs: diluted shares by fiscal yearSemiLEDs: diluted shares by fiscal year4MFY204MFY215MFY225MFY236MFY248MFY25
+96.9% since FY20: more shares outstanding (issuance, stock pay).
SemiLEDs: long-term debt falling due (FY24)SemiLEDs: long-term debt falling due (FY24)$2.9M2025$454K2026$416K2027
Cash $1.7M, short-term investments —, long-term debt $3.7M at 2024-08-31.
SemiLEDs in its industry: growth against margin (80 companies, SIC 3674)SemiLEDs in its industry: growth against margin (80 companies, SIC 3674)revenue growth, year over year →↑ operating marginmedian +36%median 11%NVDAMUAVGOINTCAMDAMATTXNADINXPIMRVLAMKRONMCHPQARMFSLRMPWRNXTSWKSQorvo, Inc.UCTTALABPENGCRUSDIODCRDOVIAVMTSIOSISSMTCKLICARRYICHRSEDGSITMSYNAENPHLSCCIPGPFORMALGMAAOITESLABRMBSMXLPLABSHLSCBRSAOSLSkyWater Technology, LLCWOLFPOWINLSTAMBALASRAXTIINDIMXAMBQFTCIAIPTYGOLPTHMRAMNVTSKOPNBZAIGUERGSITNVECSODIQUIKPRSOGCTSMOBXALMUASTIIPWRLEDS (-49%, 16%)
Semiconductors & Related Devices; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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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.

In its own words, from its 8-K, filed Jul 14, 2026.

SemiLEDs against its Semiconductors & Related Devices peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -49% against the peers' median +40%. Operating margin: 15.6% against the peers' median 40.1%.

CompanyQuarterRevenueY/YOp. margin
LEDS SemiLEDsQ3 FY26$9.1M-49%15.6%
NVDA NVIDIAQ2 FY27$96.2B+106%66.2%
MU Micron TechnologyQ4 FY26$54.2B+379%80.7%
AVGO BroadcomQ3 FY26$29.6B+86%53.9%
INTC IntelQ3 2026$16.5B+21%15.3%
AMD Advanced Micro DevicesQ3 2026$13.4B+45%21.2%
AMAT Applied MaterialsQ3 FY26$9.1B+25%33.7%
TXN Texas InstrumentsQ3 2026$6.1B+28%47.5%
ADI Analog DevicesQ3 FY26$4.0B+40%40.1%

Source: SemiLEDs 10-Q on SEC EDGAR · CIK 1333822 · Semiconductors & Related Devices

13F: who owns LEDS and who is buying

Largest holders of LEDS (13F)Largest holders of LEDS (13F)Renaissance Technologies LLC$132KCitadel Advisors LLC$84KBerthel, Fisher & Company Financi…$20KVirtu Financial LLC$20KOsaic Holdings$334SHP Wealth Management$75Tower Research Capital LLC$22SBI Securities$8
Funds' net buying of LEDS by quarter (13F)Funds' net buying of LEDS by quarter (13F)$4702024-09$35K2024-12−$175K2025-03$116K2025-06−$2K2025-09−$21K2025-12$30K2026-03$23K2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on LEDS

History

Every quarter: Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results · Q4 FY24 results

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