Asetek – Q3 2022: Focus on Efficiencies and New Products Amid Continued Market Headwinds
· Third-quarter revenue of $10.4 million compared with $13.5 million in Q3 2021 · Gross margin of 42% compared with 39% in Q3 2021 · Q3 EBITDA adjusted of negative $0.6 million improved from negative $1.4 million in Q3 2021 · Nine-month revenue of $41.2 million and EBITDA adjusted of negative $0.2 million · Quarterly OPEX reduced 35% YoY due to organizational rightsizing and favorable exchange rates · Product development focus maintained with first shipments of next-generation liquid coolers and new SimSports products ready for pre-order in Q4 2022 · Full-year 2022 revenue