--- title: "X-FAB First Quarter 2026 Results" type: "News" locale: "en" url: "https://longbridge.com/en/news/284697764.md" description: "X-FAB Silicon Foundries SE reported Q1 2026 results with revenue of USD 195.6 million, a 4% YoY decline and 12% QoQ drop. Excluding IFRS 15 impacts, revenue was USD 205.8 million, exceeding guidance. The microsystems segment achieved record revenue of USD 33.7 million, up 42% YoY. EBITDA fell 30% YoY to USD 34.2 million, with a margin of 17.5%. The outlook for Q2 2026 anticipates revenue between USD 190-200 million and a recovery in the automotive sector expected in H2 2026." datetime: "2026-04-30T05:15:36.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/284697764.md) - [en](https://longbridge.com/en/news/284697764.md) - [zh-HK](https://longbridge.com/zh-HK/news/284697764.md) --- # X-FAB First Quarter 2026 Results X-FAB First Quarter 2026 Results Intermediate declaration by the Board of Directors Regulatory News: X-FAB Silicon Foundries SE (BOURSE:XFAB): **Highlights Q1 2026:** - _Revenue was USD 195.6 million, down 4% year-on-year (YoY) and down 12% quarter-on-quarter (QoQ)_ - _Excluding the impact from revenue recognized over time (IFRS 15), revenue was USD 205.8 million, above the guided range of USD 190-200 million._ - _Microsystems business with an all-time high revenue at USD 33.7 million, up 42% YoY and up 35% QoQ_ - _Strong growth of wide-bandgap revenue reaching USD 15.1 million, up 152% YoY and up 49% QoQ_ - _EBITDA was USD 34.2 million, down 30% YoY and down 19% QoQ_ - _EBITDA margin was 17.5%; excluding IFRS 15 impact, EBITDA margin of 18.4%, within the guided 18-21%_ - _EBIT was USD 2.3 million, down 89% YoY and down 77% QoQ_ **Outlook:** - _Q2 2026 revenue is expected to come in within the range of USD 190-200 million with an EBITDA margin in the range of 17% and 20%._ - _Steady recovery of X-FAB’s automotive business anticipated in the second half of 2026._ - _The guidance is based on an average exchange rate of 1.15 USD/Euro and does not take into account the impact of IFRS 15._ **Revenue breakdown per quarter:** in millions of USD Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q1 y-o-y growth Automotive 142.4 146.0 128.6 135.4 143.4 146.9 132.6 121.6 \-10% Industrial 34.4 31.5 36.1 39.3 47.2 47.6 50.5 52.0 32% Medical 13.2 12.1 16.5 13.8 15.1 21.2 21.2 19.2 39% Subtotal core business 190.1 189.6 181.2 188.6 205.7 215.7 204.3 192.9 2% _93.7%_ _92.9%_ _92.1%_ _93.2%_ _94.2%_ _94.2%_ _93.7%_ _93.6%_ CCC1 12.6 14.2 15.1 13.6 12.2 13.3 13.6 12.7 \-6% Others 0.1 0.1 0.5 0.2 0.4 0.0 0.3 0.2 Revenue\* 202.8 204.0 196.8 202.3 218.3 228.9 218.1 205.8 2% Impact from revenue recognized over time 2.3 2.4 \-8.0 1.8 \-3.0 \-0.3 4.2 \-10.3 Total revenue 205.1 206.4 188.8 204.1 215.3 228.6 222.3 195.6 \-4% _1Consumer, Communications & Computer_ in millions of USD Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q1 y-o-y growth CMOS 166.2 175.0 170.8 173.4 185.1 191.8 182.9 156.9 \-9% Microsystems & Photonics1 25.1 21.6 20.2 22.9 25.3 27.5 25.0 33.7 42% Wide-bandgap technologies2 11.6 7.4 5.8 6.0 7.9 9.6 10.2 15.1 152% Revenue\* 202.8 204.0 196.8 202.3 218.3 228.9 218.1 205.8 2% Impact from revenue recognized over time 2.3 2.4 \-8.0 1.8 \-3.0 \-0.3 4.2 \-10.3 Total revenue 205.1 206.4 188.8 204.1 215.3 228.6 222.3 195.6 \-4% _1Photonics revenue included as from Q1 2026_ _2SiC and GaN; GaN revenue included as from Q1 2026_ **Business development** In the first quarter of 2026, X-FAB recorded revenues of USD 195.6 million, down 4% year-on-year and 12% quarter-on-quarter. Excluding the impact from revenue recognized over time, quarterly revenue was USD 205.8 million, above the guided range of USD 190-200 million. First quarter revenue in X-FAB’s core markets – automotive, industrial, and medical – was at USD 192.9 million\*, up 2% year-on-year and down 6% quarter-on-quarter, representing a share of 94%\* of total revenue. Order intake for the first quarter reached USD 169.4 million, remaining steady at a modest level but showing a sequential increase of 3%. Backlog at the end of the quarter was USD 308.4 million, down 3% from USD 318.2 million at the end of the previous quarter. In the first quarter, automotive revenue came in at USD 121.6 million\*, down 10% year-on-year and down 8% quarter-on-quarter. Apart from macroeconomic uncertainties, short-term automotive demand continued to be constrained by ongoing inventory adjustments, resulting in order levels which may not fully reflect actual market requirements. The transition to electrified mobility structurally increases semiconductor content per vehicle and consistently elevates the need for electric vehicle subsystems, such as battery management, thermal regulation, and on-board charging technologies. With its diversified technology portfolio, X-FAB is well positioned to capture business opportunities in internal combustion engine (ICE), hybrid, and battery electric vehicle (BEV) drivetrains. Although automotive market visibility remains low, X-FAB experienced strong interest in its sensor technologies during the first quarter, particularly from the Asian region and China, with design wins for gas, pressure, and acceleration sensors, as well as a novel application for road noise cancellation in electric vehicles. X-FAB's industrial business generated USD 52.0 million\* in quarterly revenue, up 32% year-on-year and a 3% rise compared to the prior quarter. This growth was largely fueled by robust silicon carbide revenue and the growing demand for data center power management solutions. Sustained high production of last-time-buy technologies also continued to contribute positively to first quarter revenue in the industrial end market. In the first quarter, medical revenue came in at USD 19.2 million\*, up 39% year-on-year and down 9% quarter-on-quarter. Main contributors were applications in pacemakers, echography, contactless temperature sensing, and DNA sequencing. Additionally, X-FAB secured an increasing number of medical ultrasound opportunities during the first quarter. CMOS revenue in the first quarter was USD 156.9 million\*, down 9% year-on-year and 14% quarter-on-quarter, mainly due to the continued softness of the automotive end market. At the same time, X-FAB secured several design wins for its 180nm and 110nm BCD-on-SOI technology ranging from data center to medical ultrasound applications. A new 110nm BCD technology, which is under development, has also generated significant interest, particularly for the development of automotive sensor products. X-FAB’s SPAD (single-photon avalanche diode) offering as part of the 180nm CMOS technology continued to gain momentum with new opportunities across industrial, medical, and mobile end markets. In the first quarter, X-FAB’s microsystems and photonics business recorded an all-time high revenue of USD 33.7 million\*, up 42% year-on-year and 35% quarter-on-quarter, driven by positive momentum across diverse applications and customers. X-FAB has successfully established a piezo-MEMS production line capable of making scandium‑doped aluminum nitride (AlScN) thin films for a key customer’s inkjet printhead application. Additional use cases include MEMS resonators and compact ultrasonic transducers, which have drawn interest from several customers eager to begin prototyping with X-FAB. Quarterly wide-bandgap revenue totaled USD 15.1 million\*, up 152% year-on-year and up 49% quarter-on-quarter. X-FAB’s wide-bandgap technologies encompass both silicon carbide (SiC) and gallium nitride (GaN), with the majority of associated revenue stemming from silicon carbide customers. SiC wafer shipments reached 14,300 units in the first quarter, representing a 195% growth over the same period last year and a 28% increase from the previous quarter. These results, combined with a robust pipeline of opportunities, indicate strong market interest in X-FAB’s SiC portfolio. X-FAB’s gallium nitride activities are focused on projects in development stage. In the first quarter, X-FAB delivered the first prototype of a 1,200 Volt GaN application on a customized 200-mm engineered substrate and started a customer project for a next-generation vertical GaN technology, contributing to the anticipated increase in GaN prototyping revenue in 2026. Overall prototyping revenue in the first quarter came in at USD 19.1 million\*, up 19% year-on-year and down 6% quarter-on-quarter. **_Prototyping and production revenue\* per quarter and end market:_** in millions of USD Revenue Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Automotive Prototyping 4.7 5.1 5.5 2.8 3.3 Production 130.8 138.2 141.4 129.8 118.3 Industrial Prototyping 8.8 12.1 9.7 12.8 12.2 Production 30.5 35.2 37.9 37.7 39.8 Medical Prototyping 1.5 1.8 2.8 3.1 2.0 Production 12.3 13.2 18.4 18.1 17.2 CCC Prototyping 1.1 1.7 1.6 1.5 1.4 Production 12.5 10.5 11.6 12.0 11.3 **Financial update** In the first quarter, EBITDA was USD 34.2 million with an EBITDA margin of 17.5%. Excluding the impact of revenue recognized over time, the EBITDA margin would have reached 18.4%, within the guided range of 18‑21%. The significant IFRS 15 effect in the first quarter, which amounted to a USD 10.3 million reduction in revenue recognized over time, resulted from the expiration of most long-term agreements (LTAs) with customers at the end of 2025. Although LTAs have ended, business engagements with these clients will continue. Profitability in the first quarter was primarily affected by softness in the automotive end market, which impacted overall revenue. Given the substantial share of fixed costs, expenses could not be reduced proportionally. The implemented cost-saving program is anticipated to yield results by the end of 2026, including a headcount reduction in the high single-digit percentage range and a gradual decrease in operational expenditures. Additionally, increased research and development activities during the first quarter led to higher than usual R&D costs. X-FAB’s business is naturally hedged and profitability unaffected by exchange rate fluctuations. At a constant USD/Euro exchange rate of 1.05 as experienced in the previous year’s quarter, the EBITDA margin would have been 0.9 percentage points lower. Capital expenditures in the first quarter were at USD 26.0 million. Cash and cash equivalents at the end of the first quarter totaled USD 144.7 million with net debt amounting to USD 291.4 million, up USD 6.6 million versus the previous quarter. **Management comments** Damien Macq, CEO of X-FAB Group: "Our expertise in high-voltage and high-power technologies ideally positions X-FAB within the dynamic environment across mobility, industrial sectors, and AI-driven infrastructure. As the need for efficient energy conversion systems grows – whether that's for datacenters or electric mobility – our process portfolio supporting the electrification of everything is more relevant than ever. With a robust pipeline of opportunities across various customers and end markets, we made significant progress with diversifying our business, and we have seen strong traction in the first quarter, particularly in our microsystems and wide-bandgap business. Although the automotive market remains soft with limited visibility in the short term, we anticipate a steady recovery in the second half of 2026. Our commitment to innovation, strategic business development, and disciplined execution remains unwavering as we pursue the sustainable success of X-FAB and all stakeholders.” **X-FAB Quarterly Conference Call** X-FAB’s first quarter results will be discussed in a live conference call/audiocast on Thursday, April 30, 2026, at 6.30 p.m. The conference call will be in English. Please register here. **Financial calendar** _April 30, 2026_ Shareholders’ Meeting 2026 _July 30, 2026_ Publication of Q2 2026 results _September 1, 2026_ Publication of Half-Year Report 2026 **About X-FAB** X-FAB is a global foundry group providing a comprehensive set of specialty technologies and design IP to enable its customers to develop world-leading semiconductor products that are manufactured at X-FAB's six wafer fabs located in Malaysia, Germany, France, and the United States. With its expertise in analog/mixed-signal technologies, microsystems, photonics, silicon carbide (SiC), and gallium nitride (GaN), X-FAB is the development and manufacturing partner for its customers, primarily serving the automotive, industrial and medical end markets. X-FAB has approximately 4,300 employees and has been listed on Euronext Paris since April 2017 (XFAB). For more information, please visit www.xfab.com. **Forward-looking information** This press release may include forward-looking statements. Forward-looking statements are statements regarding or based upon our management’s current intentions, beliefs or expectations relating to, among other things, X‑FAB’s future results of operations, financial condition, liquidity, prospects, growth, strategies, or developments in the industry in which we operate. By their nature, forward-looking statements are subject to risks, uncertainties and assumptions that could cause actual results or future events to differ materially from those expressed or implied thereby. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. Forward-looking statements contained in this press release regarding trends or current activities should not be taken as a report that such trends or activities will continue in the future. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless legally required. You should not place undue reliance on any such forward-looking statements, which speak only as of the date of this press release. The information contained in this press release is subject to change without notice. No re-report or warranty, express or implied, is made as to the fairness, accuracy, reasonableness, or completeness of the information contained herein and no reliance should be placed on it. **Condensed consolidated statement of profit and loss** in thousands of USD Quarter ended31 Mar 2026 unaudited Quarter ended31 Mar 2025 unaudited Quarter ended31 Dec 2025 unaudited Year ended31 Dec 2025 audited Revenue\* 205,823 202,332 218,102 867,594 Impact from revenue recognized over time \-10,270 1,781 4,192 2,662 **Total revenue** **195,552** **204,113** **222,295** **870,255** Revenues in USD in % 55 58 59 57 Revenues in EUR in % 45 42 41 43 Cost of sales \-164,848 \-159,476 \-180,745 \-685,852 **Gross profit** **30,704** **44,636** **41,550** **184,403** _Gross profit margin in %_ _15.7_ _21.9_ _18.7_ _21.2_ Research and development expenses \-15,528 \-10,992 \-12,872 \-49,691 Selling expenses \-2,725 \-2,248 \-2,454 \-9,197 General and administrative expenses \-13,321 \-11,397 \-10,955 \-48,152 Rental income and expenses from investment properties 789 776 735 2,777 Other income and other expenses 2,337 337 \-6,172 \-3,716 **Operating profit** **2,255** **21,112** **9,832** **76,425** Finance income 9,520 6,494 4,498 34,747 Finance costs \-8,222 \-13,684 \-10,232 \-70,684 **Financial result** **1,298** **\-7,190** **\-5,734** **\-35,937** **Profit before tax** **3,553** **13,922** **4,098** **40,488** Income tax \-2,629 \-1,720 \-2,365 \-10,360 **Profit for the period** **924** **12,202** **1,733** **30,128** Operating profit (EBIT) 2,255 21,112 9,832 76,425 Depreciation 31,927 27,949 32,479 120,402 **EBITDA** **34,183** **49,061** **42,311** **196,827** _EBITDA margin in %_ _17.5_ _24.0_ _19.0_ _22.6_ **Earnings per share** **0.01** **0.09** **0.01** **0.23** Weighted average number of shares 130,631,921 130,631,921 130,631,921 130,631,921 EUR/USD average exchange rate 1.17066 1.05149 1.16369 1.12955 _Amounts in the financial tables provided in this press release are rounded to the nearest thousand except when otherwise indicated, rounding differences may occur._ _\*excluding impact from revenue recognized over time in accordance with IFRS 15_ **Condensed consolidated statement of financial position** in thousands of USD Quarter ended 31 Mar 2026 unaudited Quarter ended 31 Mar 2025 unaudited Year ended 31 Dec 2025 audited **ASSETS** **Non-current assets** Property, plant, and equipment 1,216,016 1,196,149 1,220,272 Investment properties 3,742 7,339 7,007 Intangible assets 10,663 6,059 9,522 Other non-current assets 21 38 25 Deferred tax assets 61,940 66,855 61,855 **Total non-current assets** **1,292,382** **1,276,440** **1,298,681** **Current assets** Inventories 261,332 281,311 264,659 Contract assets 10,483 19,873 20,753 Trade and other receivables 92,869 95,310 88,990 Other assets 69,414 62,696 79,588 Cash and cash equivalents 144,694 157,240 194,314 **Total current assets** **578,792** **616,430** **648,304** **TOTAL ASSETS** **1,871,174** **1,892,870** **1,946,985** **EQUITY AND LIABILITIES** **Equity** Share capital 432,745 432,745 432,745 Share premium 348,709 348,709 348,709 Retained earnings 273,105 253,858 272,069 Cumulative translation adjustment 525 369 552 Treasury shares \-770 \-770 \-770 **Total equity** **1,054,314** **1,034,911** **1,053,305** **Non-current liabilities** Non-current loans and borrowings 178,726 375,835 187,895 Other non-current liabilities and provisions 3,579 3,905 3,577 **Total non-current liabilities** **182,305** **379,740** **191,472** **Current liabilities** Trade payables 53,265 41,068 54,805 Current loans and borrowings 257,382 50,492 292,512 Other current liabilities and provisions 323,907 386,660 354,892 **Total current liabilities** **634,554** **478,219** **702,208** **TOTAL EQUITY AND LIABILITIES** **1,871,174** **1,892,870** **1,946,985** **Condensed consolidated statement of cash flows** in thousands of USD Quarter ended31 Mar 2026 unaudited Quarter ended31 Mar 2025 unaudited Quarter ended31 Dec 2025 unaudited Year ended31 Dec 2025 audited **Income before taxes** **3,553** **13,922** **4,098** **40,488** **Reconciliation of income before taxes to cash flow arising from operating activities:** **26,761** **30,944** **39,157** **159,505** Depreciation and amortization, before effect of grants and subsidies 31,927 27,949 32,479 120,402 Amortization of investment grants and subsidies \-1,390 \-1,231 \-1,402 \-5,464 Interest income and expenses (net) 4,874 3,756 3,979 16,352 Loss/(gain) on the sale of plant, property, and equipment (net) \-2,012 \-53 \-5 \-1,516 Loss/(gain) on the change in fair value of derivatives and financial assets (net) \-794 0 2,368 \-1,309 Other non-cash transactions (net) \-5,843 523 1,739 31,040 **Changes in working capital:** **\-9,501** **\-5,002** **\-17,129** **\-50,882** Decrease/(increase) of trade receivables \-3,796 1,296 6,006 7,294 Decrease/(increase) of other receivables and other assets 11,589 6,562 \-3,719 \-9,044 Decrease/(increase) of inventories 3,328 454 22,812 17,106 Decrease/(increase) of contract assets 10,270 \-4,192 \-2,662 (Decrease)/increase of trade payables 2,046 \-4,151 \-6,036 \-10,578 (Decrease)/increase of other liabilities \-28,846 \-9,163 \-31,999 \-52,998 **Income taxes (paid)/received** **\-3,961** **\-896** **245** **\-4,981** **Net cash from operating activities** **16,852** **37,187** **26,401** **144,130** **Cash flow from investing activities:** Payments for property, plant, equipment and intangible assets \-26,035 \-101,731 \-25,218 \-204,129 Receipt of government grants and subsidies 0 0 9,861 9,861 Proceeds from sale of property, plant, and equipment 5,708 53 6 1,591 Interest received 859 1,164 1,265 4,445 **Net cash used in investing activities** **\-19,469** **\-100,514** **\-14,087** **\-188,232** **Condensed consolidated statement of cash flows – con’t** in thousands of USD Quarter ended31 Mar 2026 unaudited Quarter ended31 Mar 2025 unaudited Quarter ended31 Dec 2025 unaudited Year ended31 Dec 2025 audited **Cash flow from (used in) financing activities:** Proceeds from loans and borrowings 15,918 28,902 48,468 104,506 Repayment of loans and borrowings \-51,329 \-21,081 \-30,338 \-75,256 Receipts of sale and leaseback arrangements 0 3,095 78 30,098 Payments of lease installments \-4,162 \-4,146 \-6,009 \-24,013 Interest paid \-5,732 \-4,817 \-5,244 \-20,763 **Cash flow from (used in) financing activities** **\-45,306** **1,953** **6,954** **14,572** Effect of changes in foreign currency exchange rates on cash balances \-1,697 2,771 821 8,007 Increase/(decrease) of cash and cash equivalents \-47,923 \-61,373 19,269 \-29,530 Cash and cash equivalents at the beginning of the period 194,314 215,837 174,225 215,837 **Cash and cash equivalents at the end of** **the period** **144,694** **157,240** **194,314** **194,314** _\*excluding impact from revenue recognized over time according to IFRS 15_ **X-FAB Press Contact** Uta Steinbrecher Investor Relations X-FAB Silicon Foundries +49-361-427-6489 uta.steinbrecher@xfab.com View source version on businesswire.com: https://www.businesswire.com/news/home/20260429543413/en/ ### Related Stocks - [SFX.DE](https://longbridge.com/en/quote/SFX.DE.md) ## Related News & Research - [ONWARD Medical to Announce First Quarter 2026 Results on May 26, 2026 | ONWRY Stock News](https://longbridge.com/en/news/286858298.md) - [Abaxx to Launch Silver Singapore Futures on May 22, 2026 | ABXXF Stock News](https://longbridge.com/en/news/286762247.md) - [American Power Group's CEO Provides Insights From The 2026 ACT Expo Held May 4-7, 2026 | APGI Stock News](https://longbridge.com/en/news/286786503.md) - [NorAm Drilling to present Q1 2026 results in live webcast and Q&A](https://longbridge.com/en/news/287097332.md) - [ZAWYA: KIB Group, represented by KIB Invest, acts as Joint Lead Manager in landmark $700mln Sukuk issuance by First Abu Dhabi Bank](https://longbridge.com/en/news/287054139.md)