Silicom Ltd 6-K, filed Jan 30, 2025

Silicom Ltd. (SILC)

6-K 2025-01-30 For: 2025-01-30

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Added on April 06, 2026

About this 6-K

Silicom Ltd filed this 6-K on January 30, 2025.

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	SILICOM LTD. (Registrant)

Date: January 30, 2025	By	/s/ Eran Gilad
	Eran Gilad
	Chief Financial Officer

	December 31,			December 31,
	2024			2023

Assets

Current assets
Cash and cash equivalents	$	51,283		$	46,972
Marketable securities		20,860			7,957
Accounts receivables: Trade, net		11,748			25,004
Accounts receivables: Other		4,839			3,688
Inventories		41,060			51,507
Total current assets		129,790			135,128

Marketable securities		6,839			16,619
Assets held for employees’ severance benefits		1,483			1,357
Deferred tax assets		1,704			2,359
Property, plant and equipment, net		3,055			3,552
Intangible assets, net		2,300			2,253
Right of Use		6,942			6,466
Total assets	$	152,113		$	167,734

Liabilities and shareholders' equity

Current liabilities
Trade accounts payable	$	6,477		$	4,139
Other accounts payable and accrued expenses		6,945			6,668
Lease Liabilities		1,670			2,070

Total current liabilities		15,092			12,877

Lease Liabilities		4,797			3,877
Liability for employees’ severance benefits		2,649			2,672
Deferred tax liabilities		32			46

Total liabilities		22,570			19,472

Shareholders' equity
Ordinary shares and additional paid-in capital		73,859			70,693
Treasury shares		(53,512	)		(43,631	)
Retained earnings		109,196			121,200
Total shareholders' equity		129,543			148,262

Total liabilities and shareholders' equity	$	152,113		$	167,734

	Three-month period						Twelve-month period
	ended December 31,						ended December 31,
	2024			2023			2024			2023

Sales	$	14,491		$	18,763		$	58,114		$	124,131
Cost of sales		10,358			23,257			41,516			95,442
Gross profit (loss)		4,133			(4,494	)		16,598			28,689

Research and development expenses		4,681			5,016			19,508			20,638
Selling and marketing expenses		1,654			1,592			6,014			6,935
General and administrative expenses		1,376			1,024			4,354			4,229
Impairment of goodwill		-			25,561			-			25,561
Total operating expenses		7,711			33,193			29,876			57,363

Operating income (loss)		(3,578	)		(37,687	)		(13,278	)		(28,674	)

Financial income (expenses), net		360			171			1,961			1,372
Income (loss) before income taxes		(3,218	)		(37,516	)		(11,317	)		(27,302	)
Income taxes		1,208			(2,549	)		687			(889	)
Net income (loss)	$	(4,426	)	$	(34,967	)	$	(12,004	)	$	(26,413	)

Basic income (loss) per ordinary share (US$)	$	(0.76	)	$	(5.35	)	$	(1.99	)	$	(3.94	)

Weighted average number of ordinary shares used to compute basic income (loss) per share (in thousands)		5,811			6,537			6,020			6,700

Diluted income (loss) per ordinary share (US$)	$	(0.76	)	$	(5.35	)	$	(1.99	)	$	(3.94	)

Weighted average number of ordinary shares used to compute diluted income (loss) per share (in thousands)		5,811			6,537			6,020			6,700

	Three-month period						Twelve-month period
	ended December 31,						ended December 31,
	2024			2023			2024			2023

GAAP gross profit (loss)	$	4,133		$	(4,494	)	$	16,598		$	28,689
(1) Share-based compensation (*)		83			105			276			428
(2) Impairment of intangible assets and related write-offs		-			9,647			-			9,647
Non-GAAP gross profit	$	4,216		$	5,258		$	16,874		$	38,764

GAAP operating income (loss)	$	(3,578	)	$	(37,687	)	$	(13,278	)	$	(28,674	)
Gross profit adjustments		83			9,752			276			10,075
(1) Share-based compensation (*)		778			834			2,891			2,925
(3) Impairment of goodwill		-			25,561			-			25,561
Non-GAAP operating income (loss)	$	(2,717	)	$	(1,540	)	$	(10,111	)	$	9,887

GAAP net income (loss)	$	(4,426	)	$	(34,967	)	$	(12,004	)	$	(26,413	)
Operating income (loss) adjustments		861			36,147			3,167			38,561
(4) Lease liabilities - Financial expenses (income)		150			368			141			(99	)
(5) Taxes on amortization and impairment of acquired intangible assets		22			(2,035	)		419			(1,832	)
Non-GAAP net income (loss)	$	(3,393	)	$	(487	)	$	(8,277	)	$	10,217

GAAP net income (loss)	$	(4,426	)	$	(34,967	)	$	(12,004	)	$	(26,413	)
Adjustments for Non-GAAP Cost of sales		83			9,752			276			10,075
Adjustments for Non-GAAP Research and development expenses		387			413			1,373			1,423
Adjustments for Non-GAAP Selling and marketing expenses		191			199			728			747
Adjustments for Non-GAAP General and administrative expenses		200			222			790			755
Adjustments for Non-GAAP Impairment of goodwill		-			25,561			-			25,561
Adjustments for Non-GAAP Financial income (loss), net		150			368			141			(99	)
Adjustments for Non-GAAP Income taxes		22			(2,035	)		419			(1,832	)
Non-GAAP net income (loss)	$	(3,393	)	$	(487	)	$	(8,277	)	$	10,217

GAAP basic income (loss) per ordinary share (US$)	$	(0.76	)	$	(5.35	)	$	(1.99	)	$	(3.94	)
(1) Share-based compensation (*)		0.15			0.14			0.53			0.50
(2) Impairment of intangible assets and related write-offs		-			1.48			-			1.43
(3) Impairment of Goodwill		-			3.91			-			3.81
(4) Lease liabilities - Financial expenses (income)		0.03			0.06			0.02			(0.01	)
(5) Taxes on amortization and impairment of acquired intangible assets		-			(0.31	)		0.07			(0.27	)
Non-GAAP basic income (loss) per ordinary share (US$)	$	(0.58	)	$	(0.07	)	$	(1.37	)	$	1.52

GAAP diluted income (loss) per ordinary share (US$)	$	(0.76	)	$	(5.35	)	$	(1.99	)	$	(3.94	)
(1) Share-based compensation (*)		0.15			0.14			0.53			0.50
(2) Impairment of intangible assets and related write-offs		-			1.48			-			1.43
(3) Impairment of Goodwill		-			3.91			-			3.81
(4) Lease liabilities - Financial expenses (income)		0.03			0.06			0.02			(0.01	)
(5) Taxes on amortization and impairment of acquired intangible assets		-			(0.31	)		0.07			(0.27	)
Non-GAAP diluted income (loss) per ordinary share (US$)	$	(0.58	)	$	(0.07	)	$	(1.37	)	$	1.52

Silicom Ltd. Consolidated Balance Sheets

(US$ thousands)