Data I/O beats Q2 sales estimates, narrows loss on auto demand

Overview

• Data I/O Q2 sales rise to $5.9 mln from prior year, beating analysts' expectations

• Net loss for Q2 narrows to $742,000 from prior year

• Company receives significant order from leading global automotive EV supplier

Outlook

• Company anticipates growth in high-density memory technology by 2027

• Data I/O plans to announce long-term product roadmap later this year

• Company sees opportunities in complex semiconductor technologies

• Data I/O preparing for next-gen memory technology supporting up to 1TB UFS

Result Drivers

• AUTOMOTIVE ELECTRONICS - Automotive electronics bookings rose to 66% of total, reflecting strong demand in this segment

• SIGNIFICANT ORDER - Received a $1.4 mln order for 10 systems from a major Chinese EV supplier, boosting bookings

• R&D INVESTMENTS - Continued R&D investments in UFS 4.0 technology to meet high-density flash application needs

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the computer hardware peer group is "buy."

• Wall Street's median 12-month price target for Data I/O Corp is $5.11, about 36.6% above its July 23 closing price of $3.24

Press Release: ID:nNFC6RKFlg