The following is a summary of the IQE Plc (IQEPF) Q4 2023 Earnings Call Transcript:

Financial Performance:

• IQE reported a revenue of £115 million in 2023, a decrease of 31% compared to 2022 due to challenging market conditions and demand slowdown in H1.

• Adjusted EBITDA was £4.3 million, beating forecasts, while adjusted EBIT loss stood at £20.2 million.

• The company reported Q1 2024 trading in line with Board expectations and expects revenue and adjusted EBITDA for 2024 to be within analyst forecasts range.

• Adjusted operating cash flow of £15.7 million was maintained at the same levels as in 2022.

Business Progress:

• IQE implemented cost-saving measures and diversified its customer and product base into the wireless market in 2023.

• It launched VCSEL 3D sensing product with a Tier 1 OEM handset, and made significant progress into high-growth markets such as GaN electronics.

• The company expects recovery initiated in H2 of 2023 to continue into 2024.

• It is diversifying into GaN for power electronics, and is targeting the China market with partnerships like AWSC and Lansus.

• The company is involved in public-private partnerships to accelerate funding, with key focus areas including AI and power electronics.

• IQE is also benefitting from government funds, with active engagement with the CHIPS office in the US.

More details: IQE PLC IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.