# SemiLEDs Corporation (LEDS)

> Source: Nexqual · https://nexqual.com/LEDS · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, SemiLEDs Corporation (LEDS), nexqual.com/LEDS" · informational, not investment advice.

**Price:** USD 1.97 (+2.07% on the day) · last close of Oct 23, 2026; US market closed, not a live price. Prev close 1.93 · day 1.94–2.01 · 52w 1.01–3.62 · market cap $16.3M · NCM

## Key facts
- Last four reported quarters (through May 31, 2026): revenue $25.9M, net income -$1.0M (-3.9% margin), free cash flow $3.9M (SEC filings).
- Total return with dividends: 1Y -22.8% vs S&P 500 +13.4%; 5Y -73.2% vs S&P 500 +76.9%.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $4.7M | $7.1M | $6.0M | $5.2M | $43.0M | $25.9M |
| Gross profit | $1.0M | $1.4M | $1.0M | $1.1M | $2.4M | — |
| Operating income | -$3.9M | -$3.2M | -$3.4M | -$2.9M | -$1.6M | -$1.4M |
| Net income | -$2.9M | -$2.7M | -$2.7M | -$2.0M | -$1.1M | -$1.0M |
| EPS (diluted) | -$0.68 | -$0.61 | -$0.55 | -$0.32 | -$0.15 | — |
| Free cash flow | -$1.9M | -$1.8M | -$1.2M | -$488K | $1.6M | $3.9M |
| Gross margin | 21.8% | 19.8% | 16.8% | 20.3% | 5.7% | — |
| Operating margin | -82.7% | -45.4% | -56.9% | -56.9% | -3.7% | -5.5% |
| Net margin | -60.2% | -38.9% | -45.0% | -39.3% | -2.6% | -3.9% |
| Revenue growth | -22.0% | +48.9% | -15.2% | -13.3% | +729.8% | — |
| Cash + short-term investments | $4.8M | $4.3M | $2.6M | $1.7M | $2.6M | — |
| Total debt | $7.7M | $6.9M | $6.4M | $3.7M | $1.7M | — |
Fiscal years end Aug. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through May 31, 2026)
P/S 0.6x · EV/Sales 0.5x · P/FCF 4.2x · P/B 5.3x · FCF yield 23.81% · Earnings yield -6.23% · Net cash $4.6M · EV $11.7M

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -22.8% | -73.2% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | -22.8% | -23.2% |
| Volatility (annualized) | 98.2% | 75.3% |
| Max drawdown | -67.6% (Nov 2025→Mar 2026) | -87.1% (Nov 2021→Nov 2023) |

## Peers (Semiconductors)
NVTS (Navitas Semiconductor Corporati) USD 8.38 -1.30% · POWI (Power Integrations, Inc.) USD 46.98 -0.30% · DIOD (Diodes Incorporated) USD 81.07 -0.70% · VSH (Vishay Intertechnology, Inc.) USD 26.7 -1.22% · SYNA (Synaptics Incorporated) USD 117.26 +0.19% · PI (Impinj, Inc.) USD 167.07 +2.69%

## More
Full page: https://nexqual.com/LEDS · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in LEDS's own 10-K filed 2025-11-28 (https://www.sec.gov/Archives/edgar/data/1333822/000119312525301379/leds-20250831.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Simplot Taiwan | "The Fourth Amendment to the Loan Agreement with Simplot Taiwan Inc. (i) extended the maturity date to January 15, 2025, and (ii) upon mutual agreement of us and Simplot Taiwan Inc., permitted us to repay any principal am…" |

## Revenue by product line (fiscal year ended 2025-08-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Other Products | $40.6M | 94.3% | +1725.7% |
| LED Components | $2.1M | 4.8% | -22.2% |
| Lighting Products | $228,000 | 0.5% | +7.5% |
| LED Chips | $149,000 | 0.3% | +60.2% |
| Total revenue | $43.0M | 100% | — |

## Revenue by region (fiscal year ended 2025-08-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| India | $38.1M | 88.6% | — |
| Specified Groups Of Countries Group One | $2.7M | 6.4% | -22.7% |
| Japan | $2.2M | 5.1% | +32.4% |
| Total revenue | $43.0M | 100% | — |

## Customer concentration

Period ended 2025-08-31: 59%, 30%, 5%, 2%, 1%, 0% of revenue from unnamed direct customers (10-K, filed 2025-11-28).

## Company outlook (8-K filed 2026-07-14)

- "We anticipate more buy-sell purchase orders in the fourth quarter of fiscal 2026."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter | — | — | — | $0 | — |
| Next quarter | — | — | — | $0 | — |
| Current fiscal year | — | — | — | $0 | — |
| Next fiscal year | — | — | — | $0 | — |