PARIS – Chipmaker X-FAB on Tuesday reported better-than-expected third-quarter revenue, driven by sustained demand in its key automotive and medical markets, and forecast steady sales for the final quarter of 2025.
The analog/mixed-signal foundry group posted quarterly revenue of $228.6 million, an 11% increase from a year earlier and a 6% rise from the previous quarter. Excluding the impact of accounting standard IFRS 15, revenue was $228.9 million, surpassing the company’s guidance range of $215 million to $225 million.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached $53.9 million, with a margin of 23.6%.
For the fourth quarter, X-FAB anticipates revenue between $215 million and $225 million, with an EBITDA margin projected in the range of 22.5% to 25.5%. This outlook implies a full-year 2025 revenue of $863 million to $873 million.
“X-FAB continued to grow in the third quarter, posting a solid increase in revenue for the third consecutive period amid a challenging macroeconomic environment,” said Chief Executive Officer Rudi De Winter.
The company’s core markets—automotive, industrial, and medical—collectively generated $215.7 million, accounting for 94% of total revenue. The medical segment hit a record $21.2 million, surging 74% year-on-year, while automotive revenue saw a modest 1% increase to $146.9 million.
However, the results were tempered by a 25% year-on-year drop in order intake, which fell to $163.0 million. The company attributed the decline to ongoing inventory corrections by automotive customers and broader economic uncertainties stemming from geopolitical tensions and trade disputes.
“These factors have led to more cautious ordering patterns,” the company stated, adding that “visibility is still restricted.”
A bright spot was the continued recovery of X-FAB’s silicon carbide (SiC) business, with revenue growing 30% year-on-year. The number of SiC wafers produced more than doubled compared to the same period last year, supported by demand from data centers, electric vehicles, and renewable energy applications.
The company also announced the inauguration of a new cleanroom at its Malaysia facility, which will increase the site’s manufacturing capacity. The expansion is set to double capacity for its 180nm BCD-on-SOI technology by the fourth quarter of 2026.