LEDS on Nasdaq

SemiLEDs Corp

Semiconductors and related devices company, listed on Nasdaq (LEDS)1

In its 2025 annual report the company says: “We develop, manufacture and sell light emitting diode (LED) chips and LED components, LED modules and systems. Our products are used for general lighting and specialty industrial applications, including ultraviolet, or UV, curing of polymers, LED light therapy in medical/cosmetic applications, counterfeit detection, germicidal and viricidal devices LED lighting for horticulture applications, architectural lighting and entertainment lighting.”5

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Last updated Oct 20, 2026.

Overview

$43.0MRevenue, fiscal 20252
-$1.1MNet income, fiscal 20252

Compare with Navitas Semiconductor, Kopin Corporation or Blaize Holdings, Inc., or pick any stock.

  • TickerLEDS on Nasdaq1
  • IndustrySemiconductors & Related Devices1
  • Business address3F, No. 11 Ke Jung Rd., Chu-Nan Site, Hsinchu Science Park, Miao-Li County, Chu-Nan, F5 3503
  • Filer categoryNon-accelerated filer, Smaller reporting company3

We develop, manufacture and sell light emitting diode (LED) chips and LED components, LED modules and systems. Our products are used for general lighting and specialty industrial applications, including ultraviolet, or UV, curing of polymers, LED light therapy in medical/cosmetic applications, counterfeit detection, germicidal and viricidal devices LED lighting for horticulture applications, architectural lighting and entertainment lighting.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

5.6%Gross margin6
-3.7%Operating margin6
-2.6%Net margin2
729.8%Revenue growth, 20252
-40.6%Return on equity2
0.16×Debt to equity2
$1.6MFree cash flow6

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Other Products brought in 94% of the revenue SemiLEDs Corp broke down this way in fiscal 2025.

  1. Other Products$40.6M294%up 1726% from 2024
  2. LED Components$2.1M25%down 22% from 2024
  3. Lighting Products$228.0K21%up 8% from 2024
  4. LED Chips$149.0K20%up 60% from 2024
Products and services by year
Products and services20242025
Other Products$2.2M$40.6M
LED Components$2.7M$2.1M
Lighting Products$212.0K$228.0K
LED Chips$93.0K$149.0K

Regions

India brought in 89% of the revenue SemiLEDs Corp broke down this way in fiscal 2025.

  1. India$38.1M289%
  2. Specified Groups Of Countries Group One$2.7M26%down 23% from 2024
  3. Japan$2.2M25%up 32% from 2024
Regions by year
Regions20242025
India$0$38.1M
Specified Groups Of Countries Group One$3.5M$2.7M
Japan$1.6M$2.2M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue91¢$40.6M
  • Research and development3¢$1.2M
  • Selling, general and admin6¢$2.9M

Out of $43.0M in revenue.2 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending26¢$569.0K
  • Kept or used elsewhere74¢$1.6M

Out of $2.2M of cash from operations.62

Financial statements

Revenue7891011122$43.0M in 2025+474% since 2018
0$20.0M$40.0M$60.0M2018: $7.5M$7.5M20182019: $5.9M$5.9M2019−21%2020: $6.1M$6.1M2020+3%2021: $4.7M$4.7M2021−22%2022: $7.1M$7.1M2022+49%2023: $6.0M$6.0M2023−15%2024: $5.2M$5.2M2024−13%2025: $43.0M$43.0M2025+730%
Gross profit1314151617126$2.4M in 2025
-$1.0M0$1.0M$2.0M$3.0M2018: -$435.0K-$435.0K20182019: $452.0K$452.0K20192020: $1.6M$1.6M2020+254%2021: $1.0M$1.0M2021−38%2022: $1.4M$1.4M2022+40%2023: $1.0M$1.0M2023−28%2024: $1.1M$1.1M2024+9%2025: $2.4M$2.4M2025+118%
Operating income1314151617186-$1.6M in 2025−57% since 2018
-$4.0M-$3.0M-$2.0M-$1.0M02018: -$3.7M-$3.7M20182019: -$3.7M-$3.7M2019+0%2020: -$2.1M-$2.1M2020−43%2021: -$3.9M-$3.9M2021+86%2022: -$3.2M-$3.2M2022−18%2023: -$3.4M-$3.4M2023+6%2024: -$2.9M-$2.9M2024−15%2025: -$1.6M-$1.6M2025−45%
Net income7891011122-$1.1M in 2025−62% since 2018
-$4.0M-$3.0M-$2.0M-$1.0M02018: -$3.0M-$3.0M20182019: -$3.6M-$3.6M2019+20%2020: -$544.0K-$544.0K2020−85%2021: -$2.9M-$2.9M2021+424%2022: -$2.7M-$2.7M2022−4%2023: -$2.7M-$2.7M2023−2%2024: -$2.0M-$2.0M2024−24%2025: -$1.1M-$1.1M2025−44%

Every line of the income statement as filed: the last 2 fiscal years, latest first.2

Period ending2025-08-312024-08-31
Revenues, net$43.0M$5.2M
Cost of revenues$40.6M$4.1M
Gross profit$2.4M$1.1M
Research and development$1.2M$1.2M
Selling, general and administrative$2.9M$2.9M
Gain on disposals of long-lived assets, net-$49.0K
Total operating expenses$4.0M$4.0M
Loss from operations-$1.6M-$2.9M
Investment loss from unconsolidated entities-$958.0K-$3.0K
Interest expenses, net-$141.0K-$247.0K
Other income, net$1.1M$1.2M
Foreign currency transaction gain (loss), net$464.0K-$13.0K
Total other income, net$465.0K$918.0K
Loss before income taxes-$1.1M-$2.0M
Net loss-$1.1M-$2.0M
Less: Net income attributable to noncontrolling interests$5.0K
Net loss attributable to SemiLEDs stockholders-$1.1M-$2.0M
Basic-$0.15-$0.32
Diluted-$0.15-$0.32
Basic7.7M shares6.3M shares
Diluted7.7M shares6.3M shares

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Corporate structure

SemiLEDs Corp sits at the top of its group. 3 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of SemiLEDs Corp

  • Simplot Taiwan Inc. Filed SCHEDULE 13D/A on SemiLEDs Corp, latest Mar 4, 2025 (3 filings since Jan 18, 2024)
  • Trung T. Doan Filed SCHEDULE 13D/A on SemiLEDs Corp, latest Mar 4, 2025
  • RENAISSANCE TECHNOLOGIES LLC Filed SC 13G/A on SemiLEDs Corp, latest Feb 10, 2022
  • SemiLEDs Corp
    • Helios Crew Corporation Subsidiary · Delaware, United States
    • Taiwan Bandaoti Zhaoming Co., Ltd. Subsidiary · Taiwan

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What SemiLEDs Corp reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$44.3M2 Aug 31, 2025$42.0M2 Aug 31, 2024+5.3%
Accumulated depreciation$41.5M2 Aug 31, 2025$39.2M2 Aug 31, 2024+5.9%
Property and equipment, net$2.7M2 Aug 31, 2025$2.8M2 Aug 31, 2024−3.0%
Operating-lease assets (leased space)$1.1M2 Aug 31, 2025$1.1M2 Aug 31, 2024+4.6%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$2.6M2 Aug 31, 2025$1.7M2 Aug 31, 2024+55.2%

Intangibles and goodwill

ItemLatestA year beforeChange
Finite-lived intangibles, gross$947.0K2 Aug 31, 2025$889.0K2 Aug 31, 2024+6.5%
Accumulated amortization$847.0K2 Aug 31, 2025$799.0K2 Aug 31, 2024+6.0%
Finite-lived intangibles, net$100.0K2 Aug 31, 2025$90.0K2 Aug 31, 2024+11.1%

Inventory

ItemLatestA year beforeChange
Inventory, total$4.8M2 Aug 31, 2025$3.6M2 Aug 31, 2024+33.6%
Raw materials$411.0K2 Aug 31, 2025$349.0K2 Aug 31, 2024+17.8%
Work in process$1.1M2 Aug 31, 2025$727.0K2 Aug 31, 2024+44.6%
Finished goods$3.3M2 Aug 31, 2025$2.5M2 Aug 31, 2024+32.7%

Properties, in its own words

The following are significant manufacturing and office facilities that we own or lease as of August 31, 2025:

We own a four-story building located in Hsinchu Science Park, Taiwan. We occupy approximately 183 thousand square feet of the building, and we lease approximately 55 thousand square feet of space to a third-party tenant. Approximately 32% of our occupied space in the building is devoted to our manufacturing operations. We lease the land on which the building is situated from the Science Park Administration in Hsinchu.

Item 2 of the 10-K filed Nov 28, 2025.5

Leadership

Who has led SemiLEDs Corp, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (15)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Helios Crew Corporation Delaware4
  • Taiwan Bandaoti Zhaoming Co., Ltd. Taiwan4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Aug 31, 20268-K Shareholder vote38
  2. Jul 27, 20268-K Change of auditor39
  3. Jul 15, 20268-K Results of operations40
  4. Jul 15, 20268-K Listing notice or transfer41
  5. Jul 14, 20268-K Results of operations; Change of auditor42
  6. Apr 14, 20268-K Results of operations43
  7. Feb 3, 20268-K Listing notice or transfer44
  8. Jan 16, 20268-K Entered a material agreement45
  9. Jan 14, 20268-K Results of operations46
  10. Nov 28, 20258-K Results of operations47
  11. Sep 2, 20258-K Shareholder vote48
  12. Jul 11, 20258-K Results of operations; Change of auditor49
  13. Dec 8, 2010New chief executive Trung T. Doan becomes CEO20

Calendar

Coming up

  1. Nov 27, 2026Reports results for the quarter ending Aug/202650

When it reported results

  1. Jul 15, 2026Reported quarterly or annual results40
  2. Jul 14, 2026Reported quarterly or annual results42
  3. Apr 14, 2026Reported quarterly or annual results43
  4. Jan 14, 2026Reported quarterly or annual results46
  5. Nov 28, 2025Reported quarterly or annual results47
  6. Jul 11, 2025Reported quarterly or annual results49
  7. Apr 10, 2025Reported quarterly or annual results51
  8. Jan 10, 2025Reported quarterly or annual results52

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

122 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 43 major events, 27 insider forms, 9 large holders, 23 other. The latest 20:

  1. Aug 31, 20268-K EDGAR
  2. Jul 27, 20268-K EDGAR
  3. Jul 15, 2026DEFA14A EDGAR
  4. Jul 15, 2026DEF 14A EDGAR
  5. Jul 15, 2026ARS EDGAR
  6. Jul 15, 20268-K EDGAR
  7. Jul 15, 20268-K/A EDGAR
  8. Jul 14, 202610-Q EDGAR
  9. Jul 14, 20268-K EDGAR
  10. May 27, 2026SD EDGAR
  11. Apr 14, 202610-Q EDGAR
  12. Apr 14, 20268-K EDGAR
  13. Feb 3, 20268-K EDGAR
  14. Jan 27, 2026UPLOAD EDGAR
  15. Jan 20, 2026CORRESP EDGAR
  16. Jan 16, 20268-K EDGAR
  17. Jan 14, 202610-Q EDGAR
  18. Jan 14, 20268-K EDGAR
  19. Jan 12, 2026UPLOAD EDGAR
  20. Nov 28, 20254 PRIMARY DOCUMENT EDGAR

The 122 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Trung T. Doan$243.0K56
2025Christopher Lee$88.6K$94.2K56
2024Chief Executive Officer$243.0K56
2024Chief Financial Officer$87.5K$106.9K56
2023Chief Executive Officer$243.0K56
2023Chief Financial Officer$89.2K$124.2K56

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Renaissance Technologies LLC79,106$132.1K0.0%+17,406
Citadel Advisors LLC50,443$84.2K0.0%+28,474
Osaic Holdings, Inc.200$3340.0%New
SHP Wealth Management45$750.0%No change
Tower Research Capital LLC (TRC)13$220.0%New
Virtu Financial LLC11,711$200.0%New
SBI Securities Co., Ltd.5$80.0%No change
Caitong International Asset Management Co., Ltd3$50.0%+2

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How SemiLEDs Corp is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARSemiLEDs Corp1
  • CIK0001333822
  • Employer ID (EIN)20-27355235
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company5
  • Incorporated inDelaware5
  • Fiscal year endsAugust 311
  • Industry code (SIC)3674 Semiconductors & Related Devices1
  • SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance1
  • Business address3F, No. 11 Ke Jung Rd., Chu-Nan Site, Hsinchu Science Park, Miao-Li County, Chu-Nan, F5 3501
  • Phone886-37-5867881
  • Shares outstanding8,273,403 as of Jul 7, 20266
  • Public float$5.7M as of Feb 28, 20255
  • AuditorYCM CPA INC., Irvine, California PCAOB ID 6781; no auditor attestation of internal control over financial reporting5
  • On EDGAR sinceMar 30, 20051
  • Filings487 in all: 8-K (139), 4 (110), 10-Q (48), 3 (25), DEFA14A (16), 10-K (15), DEF 14A (15), SD (13)1
    All 33 form types

    CORRESP (12), UPLOAD (11), S-1/A (10), SC 13G/A (10), ARS (8), SC 13D/A (7), SC 13G (7), 8-K/A (5), 4/A (4), PRE 14A (4), 10-K/A (3), NT 10-K (3), REGDEX (3), S-8 (3), SC 13D (3), 424B5 (2), EFFECT (2), SCHEDULE 13D/A (2), 424B1 (1), 8-A12B (1), CERTNAS (1), FWP (1), REGDEX/A (1), S-1 (1), S-3 (1)

  • Latest filingsAnnual report (10-K) Nov 28, 2025
    Quarterly report (10-Q) Jul 14, 2026
    Proxy statement (DEF 14A) Jul 15, 2026
    Latest 8-K (8-K) Aug 31, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.0000056LEDSThe Nasdaq Stock Market

From the cover page of the 10-K filed Nov 28, 2025 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks SemiLEDs Corp names in Item 1A of its 10-K filed Nov 28, 2025: 49 risks under these headings, as written.5

  • Risks Related to Our Business
  • We have incurred net losses in recent periods and may require additional financing. If financing is not available, we may be required to further downsize or discontinue operations.
  • In the year ended August 31, 2025, we derived the significant majority of our revenues from the purchase and sale of equipment from vendors in China. Our inability to grow our buy-sell revenues would have a negative impact on our financial condition and results of operation.
  • We depend on contract manufacturing for portions of our supply chain. The inability of our contract manufacturers to produce products that satisfy our requirements may have a material adverse effect on our business.
  • Our success depends on the successful development, introduction, commercialization and acceptance of new products and enhancements to existing product lines.
  • We derive substantially all of our revenues from a limited number of customers, including distributor customers, and generally do not enter into long-term customer contracts. The loss of, or a significant reduction in purchases by, one or more of these customers, or the failure by one of these customers to pay, could adversely affect our operating results and financial condition.
  • We may not be able to effectively develop, maintain and expand our sales and distribution channels, which could negatively affect our ability to expand our sales and business and damage our brand reputation.
  • We operate in highly competitive markets that are characterized by rapid technological changes and declining average selling prices. Competitive pressures from existing and new companies and/or damage to our brand may harm our business and operating results.
  • Historically, we have derived our revenues mainly from the sales of our LED components. Our inability to grow our revenues generated from the sales of LED components would have a negative impact on our financial condition and results of operation.
  • The market for LEDs has historically been, and we expect will continue to be, highly volatile, which could harm our business and result in significant fluctuations in the market price of our common stock.
  • Our ongoing cost and capital expenditure reduction efforts may not be effective, might have unintended consequences, and could negatively impact our business.
  • If we are unable to implement our product innovation strategy effectively, our business and financial results could be materially and adversely affected.
The other 38 risks
  • If UV LEDs fail to achieve widespread adoption in the UV lighting market, or if alternative technologies gain market acceptance, our prospects will be materially and adversely impacted and we may be unable to achieve and maintain our profitability.
  • Our gross margins could fluctuate as a result of changes in our product mix, decreases in the average selling prices of our products, underutilization of our manufacturing capacity, and other factors, which may adversely impact our operating results.
  • We rely on a limited number of key suppliers for certain key raw materials and equipment. The loss of key suppliers may have a material adverse effect on our business.
  • We may not be able to effectively expand our production capacity or upgrade our production facilities or do so in a timely or cost-effective manner, which could prevent us from growing our sales, margins and market share.
  • Sales of our products are concentrated in a few select markets. Adverse developments in these markets could have a material and disproportionate impact on us.
  • Variations in our production yields and limitations in the amount of process improvements we can implement could impact our ability to reduce costs and could cause our margins to decline and our operating results could suffer.
  • We may face challenges further expanding our LED components business. In addition, our strategy of marketing our LED components in jurisdictions with limited intellectual property enforcement regimes may limit the markets where we can sell our LED components and may subject our intellectual property rights to infringement.
  • As we continue to operate in the lighting fixtures market, we may face additional competition and our existing customers may reduce orders.
  • We are highly dependent on our customers’ ability to produce and sell products incorporating our LED products. If our customers are not successful, our operating results could be materially and adversely affected.
  • Any undetected defects in our products may harm our sales and reputation and adversely affect our manufacturing yields.
  • Our operations involve the use of hazardous materials, and we must comply with environmental laws, which can result in significant costs, and may affect our business and operating results.
  • We may be required to delay the recognition of revenues if the shipment of equipment purchased on buy-sell orders is delayed.
  • Trade matters, including tariffs, may impact our ability to compete cost-effectively.
  • Risks Relating to Our Holding Company Structure
  • Our ability to receive dividends and other payments from Taiwan Bandaoti Zhaoming Co., Ltd. may be restricted by commercial and legal restrictions, which may materially and adversely affect our ability to grow, fund investments, make acquisitions, pay dividends and otherwise fund and conduct our business.
  • Our ability to operate our holding company in the U.S. is dependent on Taiwan Bandaoti Zhaoming Co., Ltd.’s ability to repay its obligations to SemiLEDs Corporation.
  • Our ability to make further investments in Taiwan Bandaoti Zhaoming Co., Ltd. may be dependent on regulatory approvals in Taiwan.
  • The rights of stockholders may be limited as we conduct a substantial portion of our operations in Taiwan and a substantial portion of our assets and substantially all of our directors and officers reside outside the United States.
  • Risks Related to Owning Our Common Stock
  • We may fail to qualify for continued listing on Nasdaq which could make it more difficult for investors to sell their shares.
  • We may seek additional capital that may result in stockholder dilution.
  • Our directors, executive officers and principal stockholders have substantial control over us and will be able to influence corporate matters.
  • Delaware law and our certificate of incorporation and bylaws will contain anti-takeover provisions that could delay or discourage takeover attempts that stockholders may consider favorable.
  • General Risks
  • Epidemics, pandemics, and other outbreaks could disrupt the Company’s operations and adversely affect its business, results of operations, and cash flows.
  • Our operating results may fluctuate from quarter to quarter, which could make our future performance difficult to predict and could cause our operating results for a particular period to fall below expectations, resulting in a severe decline in the price of our common stock.
  • Our stock price has been and may continue to be volatile and you may be unable to resell shares of our common stock at or above the price you paid.
  • We do not anticipate paying any cash dividends on our common stock and, consequently, your ability to achieve a return on your investment will depend on appreciation in the price of our common stock.
  • We may be exposed to litigation, which could adversely affect our financial condition and results of operations.
  • We are required to assess our internal control over financial reporting on an annual basis and any future adverse findings from such assessment could result in a loss of investor confidence in our financial reports, significant expenses to remediate any internal control deficiencies and ultimately have an adverse effect on our share price.
  • We may undertake joint ventures, investments, acquisitions, joint projects, and other strategic alliances and such undertakings, as well as our existing joint ventures, may be unsuccessful and may have an adverse effect on our business.
  • Risks Related to Human Capital
  • We rely on certain key personnel. The loss of any of our key personnel, or our failure to attract, assimilate and retain other highly qualified personnel in the future, could harm our business.
  • Risks Relating to Intellectual Property
  • We may be exposed to intellectual property infringement or misappropriation claims by third parties, which could adversely affect our financial condition and results of operations.
  • If our intellectual property, including our proprietary technologies and trade secrets, are not adequately protected to prevent misuse or misappropriation by our competitors, the value of our brand and other intangible assets may be diminished, and our business may be materially and adversely affected. In addition, the sale of certain patents increases our business risk.
  • Confidentiality agreements with employees and others may not adequately prevent disclosure of trade secrets and other proprietary information.
  • The reduction or elimination of government investment in LED lighting or the elimination of, or changes in, policies in certain countries that encourage the use of LEDs over some traditional lighting technologies could cause demand for our products to decline, which could materially and adversely affect our revenues, profits and margins.
  • Political, Geographical and Economic Risks
  • Due to the location of our operations, we are vulnerable to natural disasters and other events, which may seriously disrupt our operations.
  • Strained relations between the PRC and Taiwan could negatively affect our business and the market price of our common stock.
  • If the U.S. dollar or other currencies in which our sales, raw materials, component purchases and capital expenditures are denominated fluctuate significantly against the New Taiwan, or NT, dollar and other currencies, our profitability may be seriously affected.
  • The PRC government’s control of currency conversion and changes in the exchange rate between the Renminbi and other currencies could negatively affect our financial condition and our ability to pay dividends.
  • Failure to comply with the U.S. Foreign Corrupt Practices Act could subject us to penalties and other adverse consequences.

Legal proceedings

Due to the complex technology required to compete successfully in the LED industry, participants in our industry are often engaged in significant intellectual property licensing arrangements, negotiations, disputes and litigation. We are directly or indirectly involved from time to time and may be named in various other claims or legal proceedings arising in the ordinary course of our business or otherwise.

There were no material pending legal proceedings or claims as of August 31, 2025.

The opening of Item 3, Legal Proceedings.5

Sources

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