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The company reported a core profit for the first half of the year, a significant recovery from the loss it posted during the same period last year. Revenue reached about 90 million dollars, driven by high demand for the specialized wafers used in AI data centers and defense systems.
This return to profit is a key milestone in the company's pivot toward AI infrastructure. While it still reported a small loss of about 1 cent per share on a bottom-line basis, the improvement in core earnings suggests the strategy of focusing on high-speed data center components is beginning to pay off.
Management has consistently missed its own targets over the last five quarters. This track record suggests the team is still struggling to accurately forecast the pace of its business recovery.