Alchip Technologies
ConvictionContext
Design-services + turnkey: earns NRE (non-recurring engineering) design revenue up front, then higher-volume, lower-margin mass-production/turnkey revenue as customer chips ramp. Asset-light fabless model; manufacturing outsourced to TSMC foundry and OSAT partners. Revenue is lumpy, gated by individual customer product generations.
Revenue
$992MFY2025Rev growth
-38% YoYFY2025 $992M vs FY2024 $1.6BGross margin
26%FY2025); >50% in Q1 2026 on NRE-heavy mixOp margin
~16%FY2025 operating income $161M on $992MCapex intensity
Lowfabless, asset-light design house); precise capex not disclosedMarket cap
~$10.8B USD~344B TWD; TWSE:3661, also OTC ALCPF), Jul 2026The read
Where our coverage leans
Coverage leans bullish
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- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
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Not investment advice — analyst work product for a qualified professional.· intel vintage 2026-07 (FY2025 audited results reported 2026-03-18; Q1 2026 reported 2026-05-27; market cap/price as of early Jul 2026, ~NT$4,215 after a ~9% one-day pullback)· sign in (free) for the analyst summary; Pro unlocks full intelligence