Revenue and losses both grow at Transphorm
Goleta-based Transphorm generated a slight bump in revenue in the fourth quarter of its 2020-21 fiscal year, but net losses continued to mount for the company, according to financial results released June 24.
Transphorm reported a loss of $6.5 million, or 16 cents per share, in the fourth quarter, up from a net loss of $4.7 million in the same quarter a year earlier. For the full fiscal year, Transphorm had a loss of $20.3 million, or 56 cents per share, up from a net loss of $13.1 million in the 2020 fiscal year.
Transphorm did have a bump in revenue, as the company generated $2.4 million in the fourth quarter of 2021, up from $1.1 million in the same quarter a year earlier.
For the year, the gallium nitride semiconductor company had revenue of $12.7 million, up slightly from the previous fiscal year, when it generated revenue of $12.5 million.
Transphorm released its financial results for the quarter ended March 31 before the markets opened on June 24. Shares were up 2% the following day, with the stock closing at $4.60 to end the week.
Transphorm originally released its fourth quarter and full-year results for 2020 on March 7, but said in its June 24 news release that the company’s fiscal fourth quarter of 2021 ended March 31, 2021, to reflect the company’s new fiscal year-end period.
The change came as part of the company’s “preparations for a planned application to uplist to the Nasdaq Capital Market in the second half of calendar 2021,” the news release said.