$DIOD

DIODES INC /DEL/

CIK:0000029002|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 445,529	$ 366,212	$ 850,996	$ 698,325
Cost of goods sold	297,963	250,888	574,638	478,307
Gross profit	147,566	115,324	276,358	220,018
Operating expenses
Selling, general and administrative	69,782	59,470	134,087	118,169
Research and development	40,651	40,537	81,266	79,164
Amortization of acquisition related intangible assets	3,911	5,839	7,855	11,663
(Gain) loss on disposal of fixed assets	(63)	19	80	1
Other operating (income) expense	(5)	70	15	336
Total operating expense	114,276	105,935	223,303	209,333
Income from operations	33,290	9,389	53,055	10,685
Other income (expense)
Interest income	5,548	7,024	10,993	12,837
Interest expense	(334)	(506)	(1,016)	(973)
Foreign currency (loss), net	(1,017)	(6,432)	(4,394)	(6,615)
Unrealized gain on investments	20,018	29,645	22,468	25,613
Impairment of equity investment	0	0	(1,249)	(5,817)
Gain on disposal of subsidiary	0	13,730	0	13,730
Other income	470	362	561	979
Total other income	24,685	43,823	27,363	39,754
Income before income taxes, equity in net earnings of equity investments, and noncontrolling interest	57,975	53,212	80,418	50,439
Income tax provision	6,847	9,063	10,847	9,083
Equity in net earnings of equity investments	(2,362)	11	(4,703)	17
Net income	48,766	44,160	64,868	41,373
Less net income attributable to noncontrolling interest	(2,117)	1,938	(3,258)	288
Net income attributable to common stockholders	$ 46,649	$ 46,098	$ 61,610	$ 41,661
Earnings per share attributable to common stockholders:
Basic	$ 1.02	$ 0.99	$ 1.34	$ 0.9
Diluted	$ 1	$ 0.99	$ 1.33	$ 0.9
Number of shares used in earnings per share computation:
Basic	45,921	46,398	45,920	46,385
Diluted	46,446	46,462	46,344	46,452

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net income	$ 64,868	$ 41,373
Adjustments to reconcile net income to net cash flows from operating activities, net of effects of acquisitions
Depreciation	62,568	60,125
Amortization of intangible assets	7,855	11,663
Share-based compensation expense	18,870	12,179
Deferred income taxes	(1,355)	775
Investment gain	(17,790)	(25,624)
Gain on sale of subsidiary	0	(13,730)
Impairment Loss of Equity Investment	1,249	5,817
Gain on disposal of fixed assets	80	1
Interest income from derivative financial instruments	(6,618)	(9,302)
Other	2,412	(354)
Changes in operating assets:
Change in accounts receivable	(4,228)	21,288
Change in inventory	(33,393)	5,982
Change in other operating assets	(4,558)	(5,673)
Changes in operating liabilities:
Change in accounts payable	34,296	9,480
Change in accrued liabilities	2,190	(17,367)
Change in income tax payable	5,395	(1,437)
Change in other operating liabilities	947	3,068
Net cash flows from operating activities	132,788	98,264
Cash flows from investing activities
Acquisition, net of cash acquired	(2,440)	(5,160)
Purchases of property, plant, and equipment	(65,503)	(36,338)
Proceeds from sale of property, plant and equipment	261	5,626
Proceeds from short-term investments	1,893	5,390
Purchases of short-term investments	(1,625)	(7,566)
Purchases of equity securities	(702)	(49,208)
Proceeds from sale of subsidiary	0	15,958
Cash paid for hedge termination	(6,494)	(6,890)
Other	(589)	(426)
Net cash flows from investing activities	(75,199)	(78,614)
Cash flows from financing activities
Advances on lines of credit and short-term debt	28,367	15,082
Repayments of lines of credit and short-term debt	(39,737)	(22,881)
Proceeds from long-term debt	6,868	6,539
Repayments of long-term debt	(10,276)	(3,722)
Repayment of and proceeds from finance lease obligation	(28)	(18)
Taxes paid related to net share settlement	(1,872)	(1,624)
Net changes in noncontrolling interests	25,077	(13,487)
Repurchase of common stock	(10,197)	(10,004)
Other	(153)	(1)
Net cash flows from financing activities	(1,951)	(30,116)
Effect of exchange rate changes on cash and cash equivalents	4,097	18,519
Change in cash and cash equivalents, including restricted cash	59,735	8,053
Cash and cash equivalents, beginning of period, including restricted cash	372,346	314,724
Cash and cash equivalents, end of period, including restricted cash	432,081	322,777
Supplemental Cash Flow Information
Interest paid during the period	483	826
Taxes paid during the period	8,249	10,980
Non-cash investing and financing activities:
Accounts payable balance related to the purchase of property, plant and equipment	27,905	9,572
Dividend payable to noncontrolling interest	$ 3,215	$ 4,673

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 430,447	$ 367,212
Restricted cash	1,634	5,134
Short-term investments	9,528	9,817
Accounts receivable, net of allowances of $4,205 and $4,095, respectively	310,279	307,055
Inventories	504,565	471,546
Prepaid expenses and other	103,606	96,198
Total current assets	1,360,059	1,256,962
Property, plant and equipment, net	661,271	649,605
Deferred tax assets	60,842	59,297
Goodwill	182,514	183,437
Intangible assets, net	37,539	45,455
Equity investments	172,564	156,272
Operating lease assets	47,462	38,740
Other long-term assets	61,114	58,332
Total assets	2,583,365	2,448,100
Current liabilities:
Lines of credit	18,560	30,264
Accounts payable	183,545	149,376
Operating lease liabilities, current	11,849	10,666
Accrued liabilities and other	191,098	170,256
Income tax payable	22,738	16,336
Current portion of long-term debt	1,611	1,442
Total current liabilities	429,401	378,340
Long-term debt, net of current portion	20,298	24,224
Deferred tax liabilities	5,102	6,145
Unrecognized tax benefits	23,844	23,454
Operating lease liabilities	36,687	28,890
Other long-term liabilities	45,724	48,638
Total liabilities	561,056	509,691
Commitments and contingencies (See Note 10)
Stockholders' equity
Preferred stock - par value $1.00 per share; 1,000 shares authorized; no shares issued or outstanding	0	0
Common stock - par value $0.66 2/3 per share; 70,000 shares authorized; 55,977 and 55,883, shares issued; 45,869 and 45,875, shares outstanding, respectively	37,321	37,259
Additional paid-in capital	569,091	538,087
Retained earnings	1,847,049	1,785,439
Treasury stock, at cost, 10,108 shares and 10,008 shares , respectively	(382,143)	(371,914)
Accumulated other comprehensive loss	(119,017)	(110,747)
Stockholders' equity	1,952,301	1,878,124
Noncontrolling interest	70,008	60,285
Total equity	2,022,309	1,938,409
Total liabilities and stockholders' equity	$ 2,583,365	$ 2,448,100