Connect with us

Technology

Silicom Reports Q4 2024 Results

Published

2 years ago

on

KFAR SAVA, Israel, Jan. 30, 2025 /PRNewswire/ — Silicom Ltd. (NASDAQ: SILC), a leading provider of high-performance networking and data infrastructure solutions, today reported its financial results for the fourth quarter and full year ended December 31, 2024.

 

 

Financial Results

Fourth quarter: Silicom’s revenues for the fourth quarter of 2024 were $14.5 million compared with $18.8 million for the fourth quarter of 2023.

On a GAAP basis, the company’s net loss for the quarter totalled $4.4 million, or $0.76 per ordinary share (basic and diluted), compared with a net loss of $35.0 million, or $5.35 per ordinary share (basic and diluted), for the fourth quarter of 2023.

On a non-GAAP basis (as described and reconciled below), net loss for the quarter totalled $3.4 million, or $0.58 per ordinary share (basic and diluted), compared with a net loss of $0.5 million, or $0.07 per ordinary share (basic and diluted), for the fourth quarter of 2023.

Full year 2024: Silicom’s revenues for 2024 were $58.1 million compared with $124.1 million for 2023.

On a GAAP basis, net loss for the year totalled $12.0 million, or $1.99 per ordinary share (basic and diluted), compared with a net loss of $26.4 million, or $3.94 per ordinary share (basic and diluted), for 2023.

On a non-GAAP basis (as described and reconciled below), net loss for the year totalled $8.3 million, or $1.37 per ordinary share (basic and diluted), compared with net income of $10.2 million, or $1.52 per ordinary share (basic and diluted), for 2023.

During 2024, the Company generated approximately $17.3 million in cash, and invested more than half of that, approximately $10 million, in repurchasing ~650,000 Silicom shares.

Guidance

Management projects that revenues for the first quarter of 2025 will range from $14 million to $15 million. Growth in 2025 is expected to be in the low single digits, with strong double digit annual growth rate materializing gradually from 2026.

Comments of Management

Liron Eizenman, Silicom’s President and CEO, commented, “We are pleased to report another quarter of progress according to our strategic plan, with strong Design Win momentum increasing the visibility of our potential mid-to-long-term revenue growth. While we continue to deal with short-term challenges, during the quarter we achieved milestone after milestone with a variety of customers and projects, moving exciting opportunities forward through our broad and wide pipeline towards future Design Wins. This is a clear indication that we are on track for a return to strong double-digit growth in 2026 and beyond.”

Mr. Eizenman continued, “For example, most recently, a global networking and Security-As-A-Service provider customer standardized on our Edge devices for all of its Edge deployment scenarios, and a US-based cyber security leader selected a customized version of our Edge system as its next-generation of a leading product line. Both of these slow-and-steady, continuously-building engagements are expected to lead to years of recurring revenues, serving as a rock-solid platform for future growth. Any ramp-ups that materialize faster than originally projected would accelerate the pace.” 

Mr. Eizenman concluded, “Looking forward, we continue to focus on creating strong, long-term value for our shareholders, aiming at an EPS above $3 based on annual revenues of $150 – $160 million. To this end, we have built an exceedingly strong financial platform, and continue to execute on our share repurchase initiative. Our new opportunities and Design Win momentum have increased the already-high motivation and dedication of our excellent team, who enter 2025 with excitement regarding our future prospects. We look forward to reporting our progress as we continue executing on our growth strategy.”

Conference Call Details
Silicom’s Management will host an interactive conference today, January 30th, at 9am Eastern Time (6am Pacific Time, 4pm Israel Time) to review and discuss the results.

To participate, investors may either listen via a webcast link hosted on Silicom’s website or via the dial-in. The link is under the investor relations’ webcast section of Silicom’s website at https://www.silicom-usa.com/webcasts/.

For those that wish to dial in via telephone, one of the following teleconferencing numbers may be used:

US: 1 866 860 9642
ISRAEL: 03 918 0609
INTERNATIONAL: +972 3 918 0609
At: 9:00am Eastern Time, 6:00am Pacific Time, 4:00pm Israel Time

It is advised to connect to the conference call a few minutes before the start.

For those unable to listen to the live call, a replay of the call will be available for three months from the day after the call under the above-mentioned webcast section of Silicom’s website.

Non-GAAP Financial Measures

This release, including the financial tables below, presents other financial information that may be considered “non-GAAP financial measures” under Regulation G and related reporting requirements promulgated by the Securities and Exchange Commission (the “SEC”) as they apply to our company. These non-GAAP financial measures exclude compensation expenses in respect of options and RSUs granted to directors, officers and employees, impairment of goodwill, taxes on amortization and impairment of acquired intangible assets, impairment of intangible assets and related write-offs, as well as lease liabilities – financial expenses (income). Non-GAAP financial measures should be evaluated in conjunction with, and are not a substitute for, GAAP financial measures. The tables also present the GAAP financial measures, which are most comparable to the non-GAAP financial measures as well as reconciliation between the non-GAAP financial measures and the most comparable GAAP financial measures. The non-GAAP financial information presented herein should not be considered in isolation from or as a substitute for operating income (loss), net income (loss) or per share data prepared in accordance with GAAP.

About Silicom

Silicom Ltd. is an industry-leading provider of high-performance networking and data infrastructure solutions. Designed primarily to improve performance and efficiency in Cloud and Data Center environments, Silicom’s solutions increase throughput, decrease latency and boost the performance of servers and networking appliances, the infrastructure backbone that enables advanced Cloud architectures and leading technologies like NFV, SD-WAN and Cyber Security. Our innovative solutions for high-density networking, high-speed fabric switching, offloading and acceleration, which utilize a range of cutting-edge silicon technologies as well as FPGA-based solutions, are ideal for scaling-up and scaling-out cloud infrastructures.

Silicom products are used by major Cloud players, service providers, telcos and OEMs as components of their infrastructure offerings, including both add-on adapters in the Data Center and stand-alone virtualized/universal CPE devices at the edge.

Silicom’s long-term, trusted relationships with more than 200 customers throughout the world, its more than 400 active Design Wins and more than 300 product SKUs have made Silicom a “go-to” connectivity/performance partner of choice for technology leaders around the globe.

For more information, please visit: www.silicom.co.il

Statements in this press which are not historical data are forward-looking statements which involve known and unknown risks, uncertainties, or other factors not under the company’s control, which may cause actual results, performance, or achievements of the company to be materially different from the results, performance, or other expectations implied by these forward-looking statements. These factors include, but are not limited to, Silicom’s increasing dependence for substantial revenue growth on a limited number of customers, the speed and extent to which Silicom’s solutions are adopted by the relevant markets, difficulty in commercializing and marketing of Silicom’s products and services, maintaining and protecting brand recognition, protection of intellectual property, competition, disruptions to its manufacturing, sales & marketing, development and customer support activities, the impact of the wars in Gaza and in the Ukraine, attacks on shipping by Huthis in the Red Sea, rising inflation, rising interest rates and volatile exchange rates, as well as any continuing or new effects resulting from the COVID-19 pandemic, and the global economic uncertainty, which may impact customer demand by encouraging them to exercise greater caution and selectivity with their short-term IT investment plans. The factors noted above are not exhaustive.

Further information about the company’s businesses, including information about factors that could materially affect Silicom’s results of operations and financial condition, are discussed in our Annual Report on Form 20-F and other documents filed by the Company and that may be subsequently filed by the company from time to time with the SEC. These forward-looking statements can generally be identified as such because the context of the statement will include words such as “expect,” “should,” “believe,” “anticipate” or words of similar import. Similarly, statements that describe future plans, objectives or goals are also forward-looking statements. In light of significant risks and uncertainties inherent in forward-looking statements, the inclusion of such statements should not be regarded as a representation by the company that it will achieve such forward-looking statements. The company disclaims any duty to update such statements, whether as a result of new information, future events, or otherwise.

Logo: https://mma.prnewswire.com/media/733229/Silicom_Ltd_Logo.jpg

Company Contact:
Eran Gilad, CFO
Silicom Ltd.       
Tel: +972-9-764-4555       
E-mail: erang@silicom.co.il

Investor Relations Contact:
Ehud Helft
EK Global Investor Relations
Tel: +1 212 378 8040
E-mail: silicom@ekgir.com 

— FINANCIAL TABLES FOLLOW –

 

 

 

Silicom Ltd. Consolidated Balance Sheets

(US$ thousands)

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

 

 

 

Silicom Ltd. Consolidated Statements of Operations

(US$ thousands, except for share and per share data)

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

 

 

 

Silicom Ltd. Reconciliation of Non-GAAP Financial Results

(US$ thousands, except for share and per share data)

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

(*) Adjustments related to share-based compensation expenses according to ASC topic 718 (SFAS 123 (R))

 

 

 

View original content:https://www.prnewswire.com/news-releases/silicom-reports-q4-2024-results-302364322.html

SOURCE Silicom Ltd.

Related Topics:
Continue Reading

Technology

Linker Vision Announces ESG Agent to Help Cities Plan More Sustainable Urban Environments

Published

47 minutes ago

on

October 19, 2026

By

BERLIN, Oct. 19, 2026 /PRNewswire/ — Linker Vision announced a new ESG AI agent designed to help urban planners evaluate sustainability initiatives and make more informed decisions. By combining environmental predictions with AI reasoning, the agent assesses urban heat and shade coverage to guide tree planting and greenery management, supporting cities’ climate adaptation goals. 

Turning sustainability goals into practical decisions

Linker Vision is working with MVRDV, the Dutch architecture and urban design firm, to explore how AI can help cities assess potential interventions before making changes in the real world. MVRDV contributed scientific data, shaped the evaluation criteria the agent uses to assess planning options, and tested the ESG agent during development.

An initial application focuses on urban forests. Linker Vision is collaborating with MVRDV on a digital twin that supports predictions of urban heat island effects and shade coverage. In the pilot, the agent identifies heat hotspots, selects suitable tree species and simulates the results, projecting that shade coverage could rise from 15.7% to more than 50% within 15 years.

Building on this pilot, the approach allows a shared digital twin to support multiple planning needs, including climate adaptation and disaster resilience. Urban forest planning is available today, and going forward, the city digital twin is designed to serve as a common foundation that government agencies can build on for additional applications, such as analyzing pedestrian flows and preparing venues for major sporting events.

How it works

The workflow combines a digital twin built using 3D Gaussian Splatting with NVIDIA accelerated computing and AI technologies. NVIDIA Omniverse libraries and OpenUSD have been implemented to unify city, tree and environmental data into a single scene, while NVIDIA Nemotron reasoning models let users run planting scenarios and optimize shade through natural language. NVIDIA Metropolis Blueprint for video search and summarization (VSS) and Cosmos open world foundation model help interpret video and understand real-world conditions.

In practice, a planner asks the agent where new trees would best reduce street-level heat. The agent tests planting options and simulates shade and temperature over a 15-year timespan in minutes, and planners review the recommended plan before an urban heat hotspot project moves forward.

Designing for future generations

“Every decision about a city shapes how future generations will live,” said Paul Shieh, founder and CEO of Linker Vision. “By connecting real-world understanding with simulation and AI reasoning, we want to help cities explore what is possible and make better choices for people and the planet.”

View original content:https://www.prnewswire.co.uk/news-releases/linker-vision-announces-esg-agent-to-help-cities-plan-more-sustainable-urban-environments-302911111.html

Continue Reading

Technology

Global Startup EXPO and Nippon Startup Awards 2026: METI Showcases Japan’s Deep-tech Results

Published

47 minutes ago

on

October 19, 2026

By

– GSE2026 Connects Global Venture Capitalists with Japanese Startups; Nippon Startup Awards 2026 Honors Startups Turning Innovation into Industry –

TOKYO, Oct. 19, 2026 /PRNewswire/ — From September to October 2026, the Ministry of Economy, Trade and Industry (hereinafter “METI”) held the Global Startup EXPO 2026 (hereinafter “GSE2026”) and the Nippon Startup Awards 2026, highlighting the strength and growth of Japan’s startup ecosystem. GSE2026 brought together top-tier investors, visionary startups, corporations, and key ecosystem participants from Japan and around the globe. Separately, the Nippon Startup Awards 2026 recognized remarkable innovations demonstrating Japan’s growing capacity to transform breakthrough deep-tech into real-world industrial solutions.

Expo and Awards Logos:
https://cdn.kyodonewsprwire.jp/prwfile/release/M109206/202610137787/_prw_PI1fl_JPI1sgRq.png 

Global Startup EXPO 2026 Recap

In Session: https://cdn.kyodonewsprwire.jp/prwfile/release/M109206/202610137787/_prw_PI2fl_AyG90Gzn.png 

Held in Osaka from October 5 to 7, GSE2026 welcomed more than 10,000 visitors and featured over 50 conference sessions. The event served as a premier global hub, generating vital business matchmaking sessions and creating unparalleled opportunities for global investors and Japanese startups to explore strategic investments and collaborations. A major highlight of the event was the participation of prominent industry figures, including Ben Horowitz, co-founder of Andreessen Horowitz (a16z), and Andy Rubin, co-founder of Android. Their presence underscored the increasing global interest in Japan’s dynamic tech ecosystem. Building upon this remarkable success, METI is pleased to announce that the Global Startup EXPO is planned to be held again next year.

Nippon Startup Awards 2026 Overview

Group Photo: https://cdn.kyodonewsprwire.jp/prwfile/release/M109206/202610137787/_prw_PI3fl_MNvb1svB.jpg 

In a separate initiative, the 2026 Nippon Startup Awards celebrated exceptional entrepreneurial achievements, recognizing 10 outstanding companies for their innovation and impact. This press release proudly highlights two exceptional winners whose pioneering technologies are actively addressing major industrial and societal challenges both in Japan and internationally.

– Mujin (Prime Minister’s Award): Mujin was recognized for becoming the first company to globally commercialize complex motion-planning technology, an ambitious feat considered practically impossible for 50 years. By successfully developing its proprietary MujinMI technology, the company enables the automation of complex logistics and manufacturing operations. This advancement offers a highly effective solution to pressing global labor shortages.

– Regional Fish (Minister of Economy, Trade and Industry Award): Regional Fish was recognized for its pioneering use of genome-editing technology in aquaculture. Through its innovative approach, the company has shortened aquatic breeding cycles from approximately 30 years to just two or three years. This advancement contributes significantly to sustainable solutions for global food challenges and the revitalization of regional fisheries.

Further Information

To explore comprehensive insights from the recent global summit, please access the following link:
https://global-startup-expo.com/en/?utm_source=prwire&utm_medium=referral&utm_campaign=20260914&utm_content=en_url＿

For the full list of recognized companies, please visit: https://www.meti.go.jp/english/press/2026/09/20260925002.html 

View original content:https://www.prnewswire.com/news-releases/global-startup-expo-and-nippon-startup-awards-2026-meti-showcases-japans-deep-tech-results-302912264.html

SOURCE Ministry of Economy, Trade and Industry (METI)

Continue Reading

Technology

PingPong continues international growth, expands into Iberia through strategic partnership with Getnet

Published

48 minutes ago

on

October 19, 2026

By

LONDON and MADRID, Oct. 19, 2026 /PRNewswire/ — PingPong , the intelligent payments infrastructure for global growth, today announces a strategic partnership with Getnet, the leading AI-payments company, part of Santander Group, to expand access to its financial infrastructure across Iberia.

The collaboration brings together two established payments businesses to deliver a stronger payment capability in the region and a simple, streamlined solution for global businesses looking to expand operations in Iberia.

Aaron Xu, General Manager, Europe and Americas at PingPong , said: “Iberia is one of Europe’s most valuable commerce markets, and the 750,000+ businesses in our network want to operate there on payment infrastructure they already trust. Our move into Iberia is the latest step in an ongoing global expansion, driven by rising customer demand and sustained investment in our international growth.”

Fabrice Mendez, Global Head of Partnerships at Getnet , said: “This partnership represents another important milestone in Getnet’s strategy to expand our open-market business across Europe while strengthening the connections between Iberia and one of the world’s fastest-growing commerce ecosystems. By combining PingPong’s strong presence across Asia with Getnet’s leadership in Europe and Latin America, we are creating new opportunities for international merchants to grow with a seamless and trusted payment experience.”

About PingPong

Founded in 2015, PingPong is a global cross-border B2B payments platform supporting over 750,000 businesses across more than 200 countries. The company annually processes over $300bn and holds 80+ financial licences worldwide. PingPong operates from 44 offices across 18 countries.

For more information, visit www.pingpongx.com.

About Santander Getnet

In 2025, Getnet processed over €238 billion across 10.5 billion transactions, serving 1.2 million clients. The company ranks as the largest acquirer in Latin America by purchase volume, and among the top 10 globally. Getnet operates across Brazil (as an e-commerce leader), Mexico, Chile, Argentina, Uruguay, Spain, and Portugal.

View original content:https://www.prnewswire.co.uk/news-releases/pingpong-continues-international-growth-expands-into-iberia-through-strategic-partnership-with-getnet-302911506.html

Continue Reading

Trending