falsedesktopAOSL2020-12-31000138746721000011{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "Large accelerated filer\t☐\tAccelerated filer\t☒\tNon-accelerated filer\t☐\n\t\t\t\t(Do not check if a smaller reporting company)\t\nSmaller reporting company\t☐\tEmerging growth company\t☐\t\t\n", "q10k_tbl_1": "\t\tPage\nPart I.\tFINANCIAL INFORMATION\t\nItem 1.\tFinancial Statements:\t1\n\tCondensed Consolidated Balance Sheets as of December 31 2020 and June 30 2020 (Unaudited)\t1\n\tCondensed Consolidated Statements of Operations for the Three and Six Months Ended December 31 2020 and 2019 (Unaudited)\t2\n\tCondensed Consolidated Statements of Comprehensive Income (Loss) for the Three and Six Months Ended December 31 2020 and 2019 (Unaudited)\t3\n\tCondensed Consolidated Statements of Changes in Equity for the Three and Six Months Ended December 31 2020 and 2019 (Unaudited)\t4\n\tCondensed Consolidated Statements of Cash Flows for the Six Months Ended December 31 2020 and 2019 (Unaudited)\t6\n\tNotes to Condensed Consolidated Financial Statements (Unaudited)\t7\nItem 2.\tManagement's Discussion and Analysis of Financial Condition and Results of Operations\t30\nItem 3.\tQuantitative and Qualitative Disclosures About Market Risk\t43\nItem 4.\tControls and Procedures\t43\nPart II.\tOTHER INFORMATION\t\nItem 1.\tLegal Proceedings\t44\nItem 1A.\tRisk Factors\t44\nItem 2.\tUnregistered Sales of Equity Securities and Use of Proceeds\t45\nItem 3.\tDefaults Upon Senior Securities\t46\nItem 4.\tMine Safety Disclosures\t46\nItem 5.\tOther Information\t46\nItem 6.\tExhibits\t47\n\tSignatures\t48\n", "q10k_tbl_2": "ALPHA AND OMEGA SEMICONDUCTOR LIMITED\t\t\nCONDENSED CONSOLIDATED BALANCE SHEETS\t\t\n(Unaudited in thousands except par value per share)\t\t\n\tDecember 31 2020\tJune 30 2020\nASSETS\t\t\nCurrent assets:\t\t\nCash and cash equivalents\t180966\t158536\nRestricted cash\t230\t2190\nAccounts receivable net\t24934\t13272\nInventories\t144307\t135528\nOther current assets\t10833\t8807\nTotal current assets\t361270\t318333\nProperty plant and equipment net\t430808\t412340\nOperating lease right-of-use assets net\t34395\t32948\nIntangible assets net\t15090\t16770\nDeferred income tax assets\t4852\t4766\nRestricted cash - long-term\t2143\t1978\nOther long-term assets\t4607\t5804\nTotal assets\t853165\t792939\nLIABILITIES AND EQUITY\t\t\nCurrent liabilities:\t\t\nAccounts payable\t83859\t86181\nAccrued liabilities\t60483\t54986\nIncome taxes payable\t2166\t1360\nShort-term debt\t43574\t30114\nFinance lease liabilities\t16535\t15258\nOperating lease liabilities\t4896\t4159\nTotal current liabilities\t211513\t192058\nLong-term debt\t93096\t99775\nIncome taxes payable - long-term\t921\t903\nDeferred income tax liabilities\t860\t496\nFinance lease liabilities - long-term\t20821\t26842\nOperating lease liabilities - long-term\t31102\t30254\nOther long-term liabilities\t20196\t10723\nTotal liabilities\t378509\t361051\nCommitments and contingencies (Note 10)\t\t\nEquity:\t\t\nPreferred shares par value $0.002 per share:\t\t\nAuthorized: 10000 shares; issued and outstanding: none at December 31 2020 and June 30 2020\t0\t0\nCommon shares par value $0.002 per share:\t\t\nAuthorized: 100000 shares; issued and outstanding: 32394 shares and 25765 shares respectively at December 31 2020 and 31944 shares and 25305 shares respectively at June 30 2020\t65\t64\nTreasury shares at cost: 6629 shares at December 31 2020 and 6639 shares at June 30 2020\t(66097)\t(66184)\nAdditional paid-in capital\t254980\t246103\nAccumulated other comprehensive income (loss)\t1481\t(5127)\nRetained earnings\t141289\t118833\nTotal Alpha and Omega Semiconductor Limited shareholder's equity\t331718\t293689\nNoncontrolling interest\t142938\t138199\nTotal equity\t474656\t431888\nTotal liabilities and equity\t853165\t792939\n", "q10k_tbl_3": "\tThree Months Ended December 31\t\tSix Months Ended December 31\t\n\t2020\t2019\t2020\t2019\nRevenue\t158830\t117860\t310381\t235662\nCost of goods sold\t110081\t93454\t219109\t184324\nGross profit\t48749\t24406\t91272\t51338\nOperating expenses\t\t\t\t\nResearch and development\t15423\t12147\t30114\t24515\nSelling general and administrative\t19736\t15629\t37241\t30814\nTotal operating expenses\t35159\t27776\t67355\t55329\nOperating income (loss)\t13590\t(3370)\t23917\t(3991)\nInterest expense and other income (loss) net\t(381)\t(635)\t(930)\t(1462)\nIncome (loss) before income taxes\t13209\t(4005)\t22987\t(5453)\nIncome tax expense\t669\t568\t1680\t978\nNet income (loss) including noncontrolling interest\t12540\t(4573)\t21307\t(6431)\nNet loss attributable to noncontrolling interest\t(363)\t(3568)\t(1170)\t(6435)\nNet income (loss) attributable to Alpha and Omega Semiconductor Limited\t12903\t(1005)\t22477\t4\nNet income (loss) per common share attributable to Alpha and Omega Semiconductor Limited\t\t\t\t\nBasic\t0.50\t(0.04)\t0.88\t0.00\nDiluted\t0.47\t(0.04)\t0.84\t0.00\nWeighted average number of common shares attributable to Alpha and Omega Semiconductor Limited used to compute net income (loss) per share\t\t\t\t\nBasic\t25672\t24701\t25506\t24620\nDiluted\t27353\t24701\t26834\t25362\n", "q10k_tbl_4": "\tThree Months Ended December 31\t\tSix Months Ended December 31\t\n\t2020\t2019\t2020\t2019\nNet income (loss) including noncontrolling interest\t12540\t(4573)\t21307\t(6431)\nOther comprehensive income (loss) net of tax\t\t\t\t\nForeign currency translation adjustment\t6814\t3055\t12517\t(3096)\nComprehensive income (loss)\t19354\t(1518)\t33824\t(9527)\nLess: Noncontrolling interest\t2824\t(2150)\t4739\t(7985)\nComprehensive income (loss) attributable to Alpha and Omega Semiconductor Limited\t16530\t632\t29085\t(1542)\n", "q10k_tbl_5": "\tCommon Shares\tTreasury Stock\tAdditional Paid-In Capital\tAccumulated Other Comprehensive Income (Loss)\tRetained Earnings\tTotal AOS Shareholders' Equity\tNoncontrolling Interest\tTotal Equity\nBalance September 30 2020\t64\t(66171)\t248967\t(2146)\t128394\t309108\t140114\t449222\nExercise of common stock options and release of restricted stock units\t0\t0\t1495\t0\t0\t1495\t0\t1495\nReissuance of treasury stock upon exercise of common stock options and release of restricted stock units\t0\t74\t0\t0\t(8)\t66\t0\t66\nWithholding tax on restricted stock units\t0\t0\t(541)\t0\t0\t(541)\t0\t(541)\nIssuance of shares under ESPP\t1\t0\t1635\t0\t0\t1636\t0\t1636\nShare-based compensation\t0\t0\t2424\t0\t0\t2424\t0\t2424\nRestricted stock units settlement in connection with service\t0\t0\t1000\t0\t0\t1000\t0\t1000\nNet income (loss)\t0\t0\t0\t0\t12903\t12903\t(363)\t12540\nCumulative translation adjustment\t0\t0\t0\t3627\t0\t3627\t3187\t6814\nBalance December 31 2020\t65\t(66097)\t254980\t1481\t141289\t331718\t142938\t474656\n\tCommon Shares\tTreasury Stock\tAdditional Paid-In Capital\tAccumulated Other Comprehensive Income (Loss)\tRetained Earnings\tTotal AOS Shareholders' Equity\tNoncontrolling Interest\tTotal Equity\nBalance June 30 2020\t64\t(66184)\t246103\t(5127)\t118833\t293689\t138199\t431888\nExercise of common stock options and release of restricted stock units\t0\t0\t1495\t0\t0\t1495\t0\t1495\nReissuance of treasury stock upon exercise of common stock options and release of restricted stock units\t0\t87\t0\t0\t(21)\t66\t0\t66\nWithholding tax on restricted stock units\t0\t0\t(953)\t0\t0\t(953)\t0\t(953)\nIssuance of shares under ESPP\t1\t0\t1635\t0\t0\t1636\t0\t1636\nShare-based compensation\t0\t0\t4700\t0\t0\t4700\t0\t4700\nRestricted stock units settlement in connection with service\t0\t0\t2000\t0\t0\t2000\t0\t2000\nNet income (loss)\t0\t0\t0\t0\t22477\t22477\t(1170)\t21307\nCumulative translation adjustment\t0\t0\t0\t6608\t0\t6608\t5909\t12517\nBalance December 31 2020\t65\t(66097)\t254980\t1481\t141289\t331718\t142938\t474656\n", "q10k_tbl_6": "\tCommon Shares\tTreasury Stock\tAdditional Paid-In Capital\tAccumulated Other Comprehensive Income (Loss)\tRetained Earnings\tTotal AOS Shareholders' Equity\tNoncontrolling Interest\tTotal Equity\nBalance September 30 2019\t62\t(66227)\t236683\t(5876)\t126481\t291123\t146430\t437553\nExercise of common stock options and release of restricted stock units\t0\t0\t26\t0\t0\t26\t0\t26\nWithholding tax on restricted stock units\t0\t0\t(99)\t0\t0\t(99)\t0\t(99)\nIssuance of shares under ESPP\t1\t0\t1700\t0\t0\t1701\t0\t1701\nShare-based compensation\t0\t0\t2487\t0\t0\t2487\t0\t2487\nNet loss\t0\t0\t0\t0\t(1005)\t(1005)\t(3568)\t(4573)\nCumulative translation adjustment\t0\t0\t0\t1637\t0\t1637\t1418\t3055\nBalance December 31 2019\t63\t(66227)\t240797\t(4239)\t125476\t295870\t144280\t440150\n\tCommon Shares\tTreasury Stock\tAdditional Paid-In Capital\tAccumulated Other Comprehensive Income (Loss)\tRetained Earnings\tTotal AOS Shareholders' Equity\tNoncontrolling Interest\tTotal Equity\nBalance June 30 2019\t62\t(66240)\t234410\t(2693)\t125485\t291024\t152265\t443289\nExercise of common stock options and release of restricted stock units\t0\t0\t26\t0\t0\t26\t0\t26\nReissuance of treasury stock upon exercise of common stock options and release of restricted stock units\t0\t13\t0\t0\t(13)\t0\t0\t0\nWithholding tax on restricted stock units\t0\t0\t(195)\t0\t0\t(195)\t0\t(195)\nIssuance of shares under ESPP\t1\t0\t1700\t0\t0\t1701\t0\t1701\nShare-based compensation\t0\t0\t4856\t0\t0\t4856\t0\t4856\nNet income (loss)\t0\t0\t0\t0\t4\t4\t(6435)\t(6431)\nCumulative translation adjustment\t0\t0\t0\t(1546)\t0\t(1546)\t(1550)\t(3096)\nBalance December 31 2019\t63\t(66227)\t240797\t(4239)\t125476\t295870\t144280\t440150\n", "q10k_tbl_7": "\tSix Months Ended December 31\t\n\t2020\t2019\nCash flows from operating activities\t\t\nNet income (loss) including noncontrolling interest\t21307\t(6431)\nAdjustments to reconcile net income (loss) to net cash provided by operating activities:\t\t\nDepreciation and amortization\t25689\t21754\nShare-based compensation expense\t6100\t4856\nDeferred income taxes net\t278\t(148)\nLoss on disposal of property and equipment\t40\t89\nChanges in assets and liabilities:\t\t\nAccounts receivable net\t(11662)\t(9576)\nInventories\t(8779)\t(4856)\nOther current and long-term assets\t(1793)\t940\nAccounts payable\t(370)\t(5676)\nIncome taxes payable\t824\t453\nAccrued and other liabilities\t14299\t6306\nNet cash provided by operating activities\t45933\t7711\nCash flows from investing activities\t\t\nPurchases of property and equipment excluding JV Company\t(14842)\t(20354)\nPurchases of property and equipment in JV Company\t(9926)\t(12067)\nProceeds from sale of property and equipment\t10\t0\nGovernment grant related to equipment\t119\t1254\nNet cash used in investing activities\t(24639)\t(31167)\nCash flows from financing activities\t\t\nWithholding tax on restricted stock units\t(953)\t(195)\nProceeds from exercise of stock options and ESPP\t3197\t1727\nProceeds from borrowings\t31008\t33708\nRepayments of borrowings\t(29912)\t(20863)\nPrincipal payments on finance leases\t(8119)\t(3403)\nNet cash provided by (used in) financing activities\t(4779)\t10974\nEffect of exchange rate changes on cash cash equivalents and restricted cash\t4120\t(347)\nNet increase (decrease) in cash cash equivalents and restricted cash\t20635\t(12829)\nCash cash equivalents and restricted cash at beginning of period\t162704\t124295\nCash cash equivalents and restricted cash at end of period\t183339\t111466\nSupplemental disclosures of non-cash investing and financing information:\t\t\nProperty and equipment purchased but not yet paid\t12621\t18165\n", "q10k_tbl_8": "\tThree Months Ended December 31\t\tSix Months Ended December 31\t\n\t2020\t2019\t2020\t2019\n\t(in thousands except per share data)\t\t\t\nNumerator:\t\t\t\t\nNet income (loss) attributable to Alpha and Omega Semiconductor Limited\t12903\t(1005)\t22477\t4\nDenominator:\t\t\t\t\nBasic:\t\t\t\t\nWeighted average number of common shares used to compute basic net income per share\t25672\t24701\t25506\t24620\nDiluted:\t\t\t\t\nWeighted average number of common shares used to compute basic net income per share\t25672\t24701\t25506\t24620\nEffect of potentially dilutive securities:\t\t\t\t\nStock options RSUs and ESPP shares\t1681\t0\t1328\t742\nWeighted average number of common shares used to compute diluted net income per share\t27353\t24701\t26834\t25362\nNet income (loss) per share attributable to Alpha and Omega Semiconductor Limited:\t\t\t\t\nBasic\t0.50\t(0.04)\t0.88\t0.00\nDiluted\t0.47\t(0.04)\t0.84\t0.00\n", "q10k_tbl_9": "\tThree Months Ended December 31\t\tSix Months Ended December 31\t\n\t2020\t2019\t2020\t2019\n\t(in thousands)\t\t(in thousands)\t\nEmployee stock options and RSUs\t7\t2040\t66\t337\nESPP\t35\t868\t134\t597\nTotal potential dilutive securities\t42\t2908\t200\t934\n", "q10k_tbl_10": "\tThree Months Ended December 31\t\tSix Months Ended December 31\t\nPercentage of revenue\t2020\t2019\t2020\t2019\nCustomer A\t28.4%\t31.3%\t28.6%\t30.0%\nCustomer B\t36.4%\t37.0%\t34.8%\t36.0%\n", "q10k_tbl_11": "\tDecember 31 2020\tJune 30 2020\nPercentage of accounts receivable\t\nCustomer A\t17.4%\t*\nCustomer B\t14.4%\t*\nCustomer C\t23.6%\t29.8%\nCustomer D\t10.0%\t*\nCustomer E\t*\t20.1%\nCustomer F\t*\t10.4%\nCustomer G\t*\t10.3%\nCustomer H\t*\t10.9%\n", "q10k_tbl_12": "\tDecember 31 2020\tJune 30 2020\n\t(in thousands)\t\nAccounts receivable\t47995\t43394\nLess: Allowance for price adjustments\t(23031)\t(30092)\nLess: Allowance for doubtful accounts\t(30)\t(30)\nAccounts receivable net\t24934\t13272\n", "q10k_tbl_13": "\tDecember 31 2020\tJune 30 2020\n\t(in thousands)\t\nRaw materials\t58903\t55377\nWork in-process\t65680\t61863\nFinished goods\t19724\t18288\n\t144307\t135528\n", "q10k_tbl_14": "\tDecember 31 2020\tJune 30 2020\n\t(in thousands)\t\nVAT receivable\t2194\t1639\nOther prepaid expenses\t2976\t1900\nPrepaid insurance\t1956\t1520\nPrepaid maintenance\t746\t587\nPrepayment to supplier\t990\t938\nPrepaid income tax\t1790\t1991\nCustoms deposit\t0\t163\nOther receivables\t181\t69\n\t10833\t8807\n", "q10k_tbl_15": "\tDecember 31 2020\tJune 30 2020\n\t(in thousands)\t\nLand\t4877\t4877\nBuilding\t63696\t58875\nManufacturing machinery and equipment\t493487\t447079\nEquipment and tooling\t26661\t25398\nComputer equipment and software\t40004\t38779\nOffice furniture and equipment\t3744\t3529\nLeasehold improvements\t73716\t68224\nLand use rights\t9213\t8502\n\t715398\t655263\nLess: accumulated depreciation\t(324344)\t(291515)\n\t391054\t363748\nEquipment and construction in progress\t39754\t48592\nProperty plant and equipment net\t430808\t412340\n", "q10k_tbl_16": "\tDecember 31 2020\tJune 30 2020\n\t(in thousands)\t\nPatents and technology rights\t18037\t18037\nTrade name\t268\t268\nCustomer relationships\t1150\t1150\n\t19455\t19455\nLess: accumulated amortization\t(4634)\t(2954)\n\t14821\t16501\nGoodwill\t269\t269\nIntangible assets net\t15090\t16770\n", "q10k_tbl_17": "Year ending June 30\t\n2021 (Remaining)\t1680\n2022\t3360\n2023\t3286\n2024\t3249\n2025\t3246\n\t14821\n", "q10k_tbl_18": "\tDecember 31 2020\tJune 30 2020\n\t(in thousands)\t\nPrepayments for property and equipment\t1140\t2242\nInvestment in a privately held company\t100\t100\nCustoms deposit\t1184\t1662\nOther long-term deposits\t916\t850\nOffice leases deposits\t1103\t766\nOther\t164\t184\n\t4607\t5804\n", "q10k_tbl_19": "\tDecember 31 2020\tJune 30 2020\n\t(in thousands)\t\nAccrued compensation and benefits\t29115\t19968\nWarranty accrual\t767\t709\nStock rotation accrual\t3893\t3358\nAccrued professional fees\t2678\t5868\nAccrued inventory\t1157\t775\nAccrued facilities related expenses\t1682\t1831\nAccrued property plant and equipment\t9924\t11039\nOther accrued expenses\t5757\t8017\nCustomer deposit\t4663\t2813\nESPP payable\t847\t608\n\t60483\t54986\n", "q10k_tbl_20": "\tSix Months Ended December 31\t\n\t2020\t2019\n\t(in thousands)\t\nBeginning balance\t709\t623\nAdditions\t239\t130\nUtilization\t(181)\t(102)\nEnding balance\t767\t651\n", "q10k_tbl_21": "\tSix Months Ended December 31\t\n\t2020\t2019\n\t(in thousands)\t\nBeginning balance\t3358\t1921\nAdditions\t4180\t5990\nUtilization\t(3645)\t(4075)\nEnding balance\t3893\t3836\n", "q10k_tbl_22": "\tDecember 31 2020\t\tJune 30 2020\t\n\t(in thousands)\t\t\t\nCustomer deposits\t15000\t*\t8000\t*\nComputer software liabilities\t960\t\t1897\t\nEquipment liabilities\t1804\t\t0\t\nDeferred payroll taxes\t2432\t\t826\t\nOther long-term liabilities\t20196\t\t10723\t\n", "q10k_tbl_23": "Year ending June 30\t\t\n2021 (Remaining)\t\t24784\n2022\t\t35127\n2023\t\t38256\n2024\t\t24125\n2025\t\t15566\nTotal principal\t\t137858\nLess: debt issuance costs\t\t(1188)\nTotal principal less debt issuance costs\t\t136670\n\tShort-term Debt\tLong-term Debt\nPrincipal amount\t44060\t93798\nLess: debt issuance costs\t(486)\t(702)\nTotal debt less debt issuance costs\t43574\t93096\n", "q10k_tbl_24": "\tSix Months Ended December 31\t\n\t2020\t2019\nOperating Leases:\t\t\nFixed rent expense\t3407\t2614\nVariable rent expense\t419\t421\nFinance Lease:\t\t\nAmortization of equipment\t1149\t1716\nInterest\t1187\t1457\nShort-term leases\t\t\nShort-term lease expenses\t107\t152\nTotal lease expenses\t6269\t6360\n", "q10k_tbl_25": "\tDecember 31 2020\tJune 30 2020\nOperating Leases:\t\t\nROU assets associated with operating leases\t34395\t32948\nFinance Lease:\t\t\nProperty plant and equipment gross\t113108\t104374\nAccumulated depreciation\t(94607)\t(86540)\nProperty plant and equipment net\t18501\t17834\nWeighted average remaining lease term (in years)\t\t\nOperating leases\t8.87\t9.57\nFinance lease\t2.22\t2.72\nWeighted average discount rate\t\t\nOperating leases\t4.50%\t4.45%\nFinance lease\t5.46%\t5.46%\n", "q10k_tbl_26": "\tSix Months Ended December 31\t\n\t2020\t2019\nCash paid from amounts included in the measurement of lease liabilities:\t\t\nOperating cash flows from operating leases\t3341\t2541\nOperating cash flows from finance lease\t1187\t1457\nFinancing cash flows from finance lease\t8119\t3403\nNon-cash investing and financing information:\t\t\nOperating lease right-of-use assets obtained in exchange for lease obligations\t2824\t16088\n", "q10k_tbl_27": "\tOperating Leases\tFinance Leases\nThe remainder of fiscal 2021\t3088\t9241\n2022\t6697\t17803\n2023\t5561\t12904\n2024\t4292\t0\n2025\t3617\t0\nThereafter\t21458\t0\nTotal minimum lease payments\t44713\t39948\nLess amount representing interest\t(8715)\t(2592)\nTotal lease liabilities\t35998\t37356\n", "q10k_tbl_28": "\tNumber of Restricted Stock Units\tWeighted Average Grant Date Fair Value Per Share\tWeighted Average Remaining Contractual Term (Years)\tAggregate Intrinsic Value\nNonvested at June 30 2020\t932138\t11.36\t1.66\t10141661\nGranted\t211635\t17.70\t\t\nVested\t(181460)\t16.27\t\t\nForfeited\t(13375)\t10.47\t\t\nNonvested at December 31 2020\t948938\t11.85\t1.29\t22432894\n", "q10k_tbl_29": "\tNumber of Performance-based Restricted Stock Units\tWeighted Average Grant Date Fair Value Per Share\tWeighted Average Remaining Contractual Term (Years)\tAggregate Intrinsic Value\nNonvested at June 30 2020\t342775\t12.38\t1.60\t3729392\nForfeited\t(1750)\t16.61\t\t\nNonvested at December 31 2020\t341025\t12.36\t1.09\t8061831\n", "q10k_tbl_30": "\t\t\tWeighted\t\n\t\tWeighted\tAverage\t\n\t\tAverage\tRemaining\t\n\tNumber of\tExercise Price\tContractual\tAggregate\n\tShares\tPer Share\tTerm (in years)\tIntrinsic Value\nOutstanding at June 30 2020\t643978\t8.79\t2.89\t1544664\nExercised\t(134559)\t11.60\t\t\nOutstanding at December 31 2020\t509419\t8.05\t2.81\t7940606\nOptions vested and expected to vest\t509419\t8.05\t2.81\t7940606\nExercisable at December 31 2020\t509419\t8.05\t2.81\t7940606\n", "q10k_tbl_31": "\tThree Months Ended December 31\t\tSix Months Ended December 31\t\n\t2020\t2019\t2020\t2019\n\t(in thousands)\t\t(in thousands)\t\nCost of goods sold\t383\t404\t768\t840\nResearch and development\t1243\t472\t2323\t996\nSelling general and administrative\t1598\t1611\t3009\t3020\n\t3224\t2487\t6100\t4856\n", "q10k_tbl_32": "\tThree Months Ended December 31\t\tSix Months Ended December 31\t\n\t2020\t2019\t2020\t2019\n\t(in thousands)\t\t(in thousands)\t\nHong Kong\t134506\t97244\t261106\t190346\nChina\t22851\t16571\t46060\t33083\nSouth Korea\t146\t2279\t282\t8269\nUnited States\t1139\t898\t2595\t1999\nOther countries\t188\t868\t338\t1965\n\t158830\t117860\t310381\t235662\n", "q10k_tbl_33": "\tThree Months Ended December 31\t\t\tSix Months Ended December 31\t\t\n\t2020\t2019\t\t2020\t2019\t\n\t(in thousands)\t\t\t(in thousands)\t\t\nPower discrete\t118500\t99321\t*\t232872\t198001\t*\nPower IC\t37381\t16825\t\t71839\t34410\t\nPackaging and testing services\t2949\t1714\t\t5670\t3251\t\n\t158830\t117860\t\t310381\t235662\t\n", "q10k_tbl_34": "\tDecember 31 2020\tJune 30 2020\n\t(in thousands)\t\nChina\t329404\t310600\nUnited States\t100672\t100984\nOther countries\t732\t756\n\t430808\t412340\n", "q10k_tbl_35": "\tThree Months Ended December 31\t\t\t\tSix Months Ended December 31\t\t\t\n\t2020\t2019\t2020\t2019\t2020\t2019\t2020\t2019\n\t(in thousands)\t\t(% of revenue)\t\t(in thousands)\t\t(% of revenue)\t\nRevenue\t158830\t117860\t100.0%\t100.0%\t310381\t235662\t100.0%\t100.0%\nCost of goods sold\t110081\t93454\t69.3%\t79.3%\t219109\t184324\t70.6%\t78.2%\nGross profit\t48749\t24406\t30.7%\t20.7%\t91272\t51338\t29.4%\t21.8%\nOperating expenses\t\t\t\t\t\t\t\t\nResearch and development\t15423\t12147\t9.7%\t10.3%\t30114\t24515\t9.7%\t10.4%\nSelling general and administrative\t19736\t15629\t12.4%\t13.3%\t37241\t30814\t12.0%\t13.1%\nTotal operating expenses\t35159\t27776\t22.1%\t23.6%\t67355\t55329\t21.7%\t23.5%\nOperating income (loss)\t13590\t(3370)\t8.6%\t(2.9)%\t23917\t(3991)\t7.7%\t(1.7)%\nInterest expense and other income (loss) net\t(381)\t(635)\t(0.3)%\t(0.5)%\t(930)\t(1462)\t(0.3)%\t(0.6)%\nIncome (loss) before income taxes\t13209\t(4005)\t8.3%\t(3.4)%\t22987\t(5453)\t7.4%\t(2.3)%\nIncome tax expense\t669\t568\t0.4%\t0.5%\t1680\t978\t0.5%\t0.4%\nNet income (loss) including noncontrolling interest\t12540\t(4573)\t7.9%\t(3.9)%\t21307\t(6431)\t6.9%\t(2.7)%\nNet loss attributable to noncontrolling interest\t(363)\t(3568)\t(0.2)%\t(3.0)%\t(1170)\t(6435)\t(0.4)%\t(2.7)%\nNet income (loss) attributable to Alpha and Omega Semiconductor Limited\t12903\t(1005)\t8.1%\t(0.9)%\t22477\t4\t7.3%\t-%\n", "q10k_tbl_36": "\tThree Months Ended December 31\t\t\t\tSix Months Ended December 31\t\t\t\n\t2020\t2019\t2020\t2019\t2020\t2019\t2020\t2019\n\t(in thousands)\t\t(% of revenue)\t\t(in thousands)\t\t(% of revenue)\t\nCost of goods sold\t383\t404\t0.2%\t0.3%\t768\t840\t0.2%\t0.4%\nResearch and development\t1243\t472\t0.8%\t0.4%\t2323\t996\t0.7%\t0.4%\nSelling general and administrative\t1598\t1611\t1.0%\t1.4%\t3009\t3020\t1.0%\t1.3%\nTotal\t3224\t2487\t2.0%\t2.1%\t6100\t4856\t1.9%\t2.1%\n", "q10k_tbl_37": "\tThree Months Ended December 31\t\t\t\tSix Months Ended December 31\t\t\t\n\t2020\t2019\tChange\t\t2020\t2019\tChange\t\n\t(in thousands)\t\t(in thousands)\t(in percentage)\t(in thousands)\t\t(in thousands)\t(in percentage)\nPower discrete\t118500\t99321\t19179\t19.3%\t232872\t198001\t34871\t17.6%\nPower IC\t37381\t16825\t20556\t122.2%\t71839\t34410\t37429\t108.8%\nPackaging and testing services\t2949\t1714\t1235\t72.1%\t5670\t3251\t2419\t74.4%\n\t158830\t117860\t40970\t34.8%\t310381\t235662\t74719\t31.7%\n", "q10k_tbl_38": "\tThree Months Ended December 31\t\t\t\tSix Months Ended December 31\t\t\t\n\t2020\t2019\tChange\t\t2020\t2019\tChange\t\n\t(in thousands)\t\t(in thousands)\t(in percentage)\t(in thousands)\t\t(in thousands)\t(in percentage)\nCost of goods sold\t110081\t93454\t16627\t17.8%\t219109\t184324\t34785\t18.9%\nPercentage of revenue\t69.3%\t79.3%\t\t\t70.6%\t78.2%\t\t\nGross profit\t48749\t24406\t24343\t99.7%\t91272\t51338\t39934\t77.8%\nPercentage of revenue\t30.7%\t20.7%\t\t\t29.4%\t21.8%\t\t\n", "q10k_tbl_39": "\tThree Months Ended December 31\t\t\t\tSix Months Ended December 31\t\t\t\n\t2020\t2019\tChange\t\t2020\t2019\tChange\t\n\t(in thousands)\t\t(in thousands)\t(in percentage)\t(in thousands)\t\t(in thousands)\t(in percentage)\nResearch and development\t15423\t12147\t3276\t27.0%\t30114\t24515\t5599\t22.8%\n", "q10k_tbl_40": "\tThree Months Ended December 31\t\t\t\tSix Months Ended December 31\t\t\t\n\t2020\t2019\tChange\t\t2020\t2019\tChange\t\n\t(in thousands)\t\t(in thousands)\t(in percentage)\t(in thousands)\t\t(in thousands)\t(in percentage)\nSelling general and administrative\t19736\t15629\t4107\t26.3%\t37241\t30814\t6427\t20.9%\n", "q10k_tbl_41": "\tThree Months Ended December 31\t\t\t\tSix Months Ended December 31\t\t\t\n\t2020\t2019\tChange\t\t2020\t2019\tChange\t\n\t(in thousands)\t\t(in thousands)\t(in percentage)\t(in thousands)\t\t(in thousands)\t(in percentage)\nInterest expense and other income (loss) net\t(381)\t(635)\t254\t(40.0)%\t(930)\t(1462)\t532\t(36.4)%\n", "q10k_tbl_42": "\tThree Months Ended December 31\t\t\t\tSix Months Ended December 31\t\t\t\n\t2020\t2019\tChange\t\t2020\t2019\tChange\t\n\t(in thousands)\t\t(in thousands)\t(in percentage)\t(in thousands)\t\t(in thousands)\t(in percentage)\nIncome tax expense\t669\t568\t101\t17.8%\t1680\t978\t702\t71.8%\n", "q10k_tbl_43": "\tSix Months Ended December 31\t\n\t2020\t2019\n\t(in thousands)\t\nNet cash provided by operating activities\t45933\t7711\nNet cash used in investing activities\t(24639)\t(31167)\nNet cash provided by (used in) financing activities\t(4779)\t10974\nEffect of exchange rate changes on cash cash equivalents and restricted cash\t4120\t(347)\nNet increase (decrease) in cash cash equivalents and restricted cash\t20635\t(12829)\n", "q10k_tbl_44": "10.1\tLetter Agreement of Severance Benefit Program for Yifan Liang dated April 28 2010\n10.2\tLetter Agreement of Severance Benefit Program for Yueh-Se Ho dated April 28 2010\n31.1\tCertification of Chief Executive Officer pursuant to Securities Exchange Act Rules 13a-14(a) and 15d-14(a) as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.\n31.2\tCertification of Chief Financial Officer pursuant to Securities Exchange Act Rules 13a-14(a) and 15d-14(a) as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.\n32.1\tCertification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.\n32.2\tCertification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.\n101.INS\tInline XBRL Instance\n101.SCH\tInline XBRL Taxonomy Extension Schema\n101.CAL\tInline XBRL Taxonomy Extension Calculation\n101.DEF\tInline XBRL Taxonomy Extension Definition\n101.LAB\tInline XBRL Taxonomy Extension Labels\n101.PRE\tInline XBRL Taxonomy Extension Presentation\n104\tCover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)\n"}{"bs": "q10k_tbl_2", "is": "q10k_tbl_3", "cf": "q10k_tbl_7"}None
☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended December 31, 2020
OR
☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
FOR THE TRANSITION PERIOD FROM TO
Commission file number 001-34717
__________________________
Alpha and Omega Semiconductor Limited
(Exact name of Registrant as Specified in its Charter)
Bermuda
77-0553536
(State or Other Jurisdiction of Incorporation or Organization)
(I.R.S. Employer Identification Number)
Clarendon House, 2 Church Street
HamiltonHM 11, Bermuda
(Address of Principal Registered
Offices including Zip Code)
(408) 830-9742
(Registrant's Telephone Number, Including Area Code)
__________________________________________
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months, (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company”, and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer
☐
Accelerated filer
☒
Non-accelerated filer
☐
(Do not check if a smaller reporting company)
Smaller reporting company
☐
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Shares
AOSL
The NASDAQ Global Select Market
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
Number of common shares outstanding as of January 25, 2021: 25,770,99825,770,998
(Unaudited, in thousands except par value per share)
December 31, 2020
June 30, 2020
ASSETS
Current assets:
Cash and cash equivalents
$
180,966
$
158,536
Restricted cash
230
2,190
Accounts receivable, net
24,934
13,272
Inventories
144,307
135,528
Other current assets
10,833
8,807
Total current assets
361,270
318,333
Property, plant and equipment, net
430,808
412,340
Operating lease right-of-use assets, net
34,395
32,948
Intangible assets, net
15,090
16,770
Deferred income tax assets
4,852
4,766
Restricted cash - long-term
2,143
1,978
Other long-term assets
4,607
5,804
Total assets
$
853,165
$
792,939
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable
$
83,859
$
86,181
Accrued liabilities
60,483
54,986
Income taxes payable
2,166
1,360
Short-term debt
43,574
30,114
Finance lease liabilities
16,535
15,258
Operating lease liabilities
4,896
4,159
Total current liabilities
211,513
192,058
Long-term debt
93,096
99,775
Income taxes payable - long-term
921
903
Deferred income tax liabilities
860
496
Finance lease liabilities - long-term
20,821
26,842
Operating lease liabilities - long-term
31,102
30,254
Other long-term liabilities
20,196
10,723
Total liabilities
378,509
361,051
Commitments and contingencies (Note 10)
Equity:
Preferred shares, par value $0.002 per share:
Authorized: 10,000 shares; issued and outstanding: none at December 31, 2020 and June 30, 2020
—
—
Common shares, par value $0.002 per share:
Authorized: 100,000 shares; issued and outstanding: 32,394 shares and 25,765 shares, respectively at December 31, 2020 and 31,944 shares and 25,305 shares, respectively at June 30, 2020
65
64
Treasury shares at cost: 6,629 shares at December 31, 2020 and 6,639 shares at June 30, 2020
(66,097)
(66,184)
Additional paid-in capital
254,980
246,103
Accumulated other comprehensive income (loss)
1,481
(5,127)
Retained earnings
141,289
118,833
Total Alpha and Omega Semiconductor Limited shareholder's equity
331,718
293,689
Noncontrolling interest
142,938
138,199
Total equity
474,656
431,888
Total liabilities and equity
$
853,165
$
792,939
See accompanying notes to these condensed consolidated financial statements.