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12 August 2020

Transphorm’s Q2 revenue boosted by licensing to Nexperia

For second-quarter 2020, Transphorm Inc of Goleta, near Santa Barbara, CA, USA — which designs and manufactures JEDEC- and AEC-Q101-qualified high-voltage (HV) gallium nitride (GaN) field-effect transistors (FETs) for high-voltage (HV) power conversion applications — has reported revenue of $6.3m, up from $1.1m last quarter and $0.5m a year ago. This was largely due to $5m of licensing revenue from manufacturing partner Nexperia, related to funding of technology development, as well as $0.7m from Transphorm’s three-year contract with the US Navy. For first-half 2020, revenue was $7.4m, up from just $1m in first-half 2019.

Operating expenses have been cut from $5.1m last quarter to $4.2m in Q2/2020 (level with a year ago), comprising R&D expenses of $1.6m and sales, general & administrative (SG&A) expenses of $2.6m.
Net loss has been cut further, from $5.9m ($0.21 per share) a year ago and $4.2m ($0.13 per share) last quarter to $2.3m ($0.06 per share) for Q2/2020. During the quarter, cash and equivalents have fallen from $14.6m to $9.4m.

Highlights in first-half 2020 are listed as:

  • introducing SuperGaN Power FETs with the launch of the Gen IV GaN platform;
  • partnering with Microchip Technology Inc to combine high-reliability GaN with a digital signal controller in support of accelerating GaN adoption;
  • announcing Hangzhou Zhongheng Electric Co’s development of an ultra-efficient, GaN-based power module using Transphorm’s GaN devices;
  • raising $19.7m in net proceeds from a private placement of common stock in February; and
  • having its common stock listed on the OTC market and being recently granted DTC eligibility.

“We continue to successfully expand our comprehensive portfolio of high-voltage GaN power conversion devices, while working to drive increased adoption of our products for targeted applications, including the emerging opportunity in fast-charging power adapters,” says CEO Mario Rivas. “Although the COVID-19 pandemic has impacted certain customers, resulting in delays of their internal development programs that could adversely affect the pace of adoption and revenue in the near-term, we are confident that our pipeline of customer engagements and design wins will drive future long-term growth.”

See related items:

Transphorm trading on OTC market under symbol TGAN

Transphorm introduces SuperGaN power FETs with launch of Gen IV GaN platform

Transphorm and Microchip combine GaN and DSP technology

Transphorm’s GaN FETs used in HZZH’s 98%-efficient power module

Transphorm raises $21m and completes reverse merger

Tags: Transphorm GaN-on-Si GaN HEMT Power electronics

Visit: www.transphormusa.com

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