Quarterly guidance

Non-GAAP net income per share
$0.57 to $0.59
GAAP net income per share
$0.56 to $0.58
Non-GAAP operating expense
Approximately $13 million
GAAP operating expense
Approximately $14 million
Share count
Approximately 66.1 million shares

Annual guidance

Annual guidance
No specific formal annual guidance figures were provided, though management discussed multiyear growth and capacity expansion plans.

Outlook

Indium phosphide demand
Demand continues to exceed supply as hyperscalers deploy GPU dense systems requiring faster optical connectivity.
Capacity expansion
The company surpassed its goal to double indium phosphide capacity and plans to double capacity again in 2027.
Substrate transition
Customers are transitioning to larger diameter substrates, with 4-inch wafers growing strongly and 6-inch moving into power production status.
Raw material supply
Subsidiary Jin Mei is expanding high-purity indium refining capacity to provide a guaranteed supply for indium phosphide substrates.