Genius (KYE) 2025 Q2 Review
Presented by Kevin Kao / Finance VP
Date: August 15, 2025
Image: A photograph of the Genius company building, a modern multi-story structure.
Safe Harbor and Disclaimer
This presentation may contain forward-looking statements related to future events, financial performance, strategy, and plans. While these expectations are believed to be reasonable, significant risks and uncertainties could cause actual results to differ materially. These factors include intense industry competition, cyclical nature of the PC industry, global business risks, and economic/political conditions. Genius undertakes no obligation to update these statements. Financial data is prepared under IFRS and publicly announced after audit and review.
Outline
- Operation Highlight
- Financial Overview
- Consolidated Comprehensive P/L
- Consolidated B/S
- Financial Resilience Index
- Regional Sales Allocation
- New Products Agenda
- Products Portfolio
- Markets & Products Strategy
- 2025 Business Concern Topics
- Q&A
2025 Q2 Operation Highlight
- Net Sales: NT$233 million (QOQ -0.8%, YOY -11.7%)
- Operating Profit: NT$13.58 million (QOQ +81.2%, YOY -46.7%)
- Net Loss: NT$9.8 million (QOQ -161%, YOY -125%)
Key Financial Rates:
- Gross Margin Rate: 43.5%
- Operating Profit Rate: 5.8%
- Rate of Net Profit after Tax: -4.2%
Consolidated Comprehensive P/L
Financial data presented in millions of NT$.
| Items | 2025 Q2 | 2024 Q2 | QOQ% | YOY% | 2025 H1 | YOY% |
|---|---|---|---|---|---|---|
| Net Sales | 233 (100%) | 264 (100%) | (0.8%) | (11.7%) | 467 (100%) | (4.1%) |
| Gross Profit | 101 (43.5%) | 110 (41.6%) | 11.2% | (7.7%) | 192 (41.2%) | (1.5%) |
| Operating Expense | 88 (37.7%) | 84 (32.0%) | 4.9% | 4.0% | 171 (36.7%) | 8.8% |
| Operating Income | 14 (5.8%) | 25 (9.7%) | 81.2% | (46.7%) | 21 (4.5%) | (44.2%) |
| Non-Operating | (25) (10.7%) | 23 (8.8%) | (54.5%) | (106.8%) | (9) (1.9%) | (116%) |
| Income before Tax | (11) (4.8%) | 49 (18.5%) | (147.8%) | (123.2%) | 12 (2.6%) | (86.8%) |
| Net Income | (10) (4.2%) | 39 (14.9%) | (161.1%) | (124.9%) | 6 (1.3%) | (91.6%) |
| EPS (After-tax) | (0.04) | 0.18 | 0.03 |
Note: EPS is based on the weighted average shares outstanding of 221.5 million in Q2&H1 2025.
2025 Q2 Revenues Declined Slightly
Bar chart illustrating quarterly revenues from 2022 to 2025.
Data presented in thousand NT$.
| Q1 | Q2 | Q3 | Q4 | |
|---|---|---|---|---|
| 2022 | 282,811 | 262,992 | 307,283 | 167,589 |
| 2023 | 175,149 | 174,667 | 222,622 | 197,111 |
| 2024 | 223,651 | 263,528 | 264,701 | 226,936 |
| 2025 | 234,422 | 232,649 |
QoQ: -0.76%, YoY: -11.7%
GP Rate Advanced Despite Strong NT in Q2 2025
Bar chart illustrating quarterly Gross Margin Rates from 2022 to 2025.
| Gross Margin Rate | Q1 | Q2 | Q3 | Q4 |
|---|---|---|---|---|
| 2022 | 26.96% | 35.41% | 24.53% | 26.23% |
| 2023 | 39.91% | 35.05% | 41.42% | 34.14% |
| 2024 | 38.20% | 41.62% | 41.64% | 39.22% |
| 2025 | 38.84% | 43.51% |
QoQ: +4.67%, YoY: +1.89%
OP Increased Quarterly Due to Higher GP
Bar chart illustrating quarterly Operating Profit from 2022 to 2025.
Data presented in thousand NT$.
| Operating Profit | Q1 | Q2 | Q3 | Q4 |
|---|---|---|---|---|
| 2022 | 9,104 | 20,362 | 2,860 | (21,210) |
| 2023 | (238) | (2,343) | 19,888 | (10,675) |
| 2024 | 12,308 | 25,463 | 26,700 | 9,664 |
| 2025 | 7,496 | 13,579 |
QoQ: +81.15%, YoY: -46.7%
2025 Q2 Net Income suffered Loss Due to FX Loss
Bar chart illustrating quarterly Net Income from 2022 to 2025.
Data presented in thousand NT$.
| Net Income | Q1 | Q2 | Q3 | Q4 |
|---|---|---|---|---|
| 2022 | 7,771 | 17,334 | 38,574 | (9,271) |
| 2023 | 18,564 | 27,844 | 30,870 | (5,077) |
| 2024 | 34,783 | 39,361 | 47,718 | 20,785 |
| 2025 | 16,035 | (9,800) |
QoQ: -161.1%, YoY: -124.9%
Consolidated B/S
Financial data presented in millions of NT$.
| Items & Comparison | 2025 Q2 | 2024 Q4 | 2024 Q2 |
|---|---|---|---|
| Cash & Equiv./Time deposit | 1,429 (40.5%) | 1,537 (42.4%) | 1,367 (38.7%) |
| Financial Assets | 66 (1.9%) | 47 (1.3%) | 51 (1.4%) |
| Net AR/NR | 109 (3.1%) | 93 (2.6%) | 108 (2.9%) |
| Inventories | 108 (3.1%) | 131 (3.6%) | 143 (3.8%) |
| Non current Asset | 1,784 (49.4%) | 1,751 (51.7%) | 1,925 (51.6%) |
| Bank Loan | 220 (6.2%) | 226 (6.2%) | 303 (8.1%) |
| Net AP/NP | 44 (1.3%) | 38 (1.0%) | 43 (1.1%) |
| Equity | 2,917 (82.7%) | 3,097 (85.4%) | 3,064 (82.2%) |
| NAV/share | NT$13.2 | NT$14.0 | NT$13.8 |
| Total Assets | 3,527 (100%) | 3,626 (100%) | 3,728 (100%) |
Financial Resilience Index
- Cost in Multi-Currency Offsets Strong NT Pressure: Favorite Products Mix Lead Better Gross Margin and Operating Profit.
- Inventory Level Reduction and Higher Turnover: Reducing NT$35.1 million from Q2 2024 (-24.5%).
- Low Debt Ratio and Solid Short-term Liquidity: Debt Ratio 16.4%.
- Adequate Cash Flows: Current Ratio 574%, Quick Ratio 533%.
- Cash & Time Deposit: NT$14.3 billion.
Financial Resilience Index (Ratios)
| Items | Financial Ratio/Year | 22 | 23 | 24 | 25 Q2 |
|---|---|---|---|---|---|
| Capital Structure | Debts to Assets ratio(%) | 14.8 | 15.2 | 13.6 | 16.4 |
| Liquidity Analysis | Current ratio(%) | 851.6 | 624.5 | 912.0 | 574.2 |
| Quick ratio(%) | 708.8 | 554.5 | 838.5 | 533.5 | |
| Operating performance | AR collection days | 31 | 34 | 33 | 40 |
| Inventory Turnover days | 142 | 148 | 91 | 79 | |
| AP Payment days | 39 | 73 | 60 | 71 | |
| Profitability | ROA(%) | 1.67% | 2.23% | 4.14% | 0.25% |
| ROE(%) | 1.86% | 2.44% | 4.69% | 0.21% | |
| EPS(nt$/share) | 0.25 | 0.33 | 0.64 | 0.03 | |
| Cash Flows | Cash Flows Ratio | 149.9% | 68.0% | 103.8% | 8.8% |
Regional Sales Allocation 2025 Q2
Pie chart showing sales distribution by region.
| Region | % of Sales |
|---|---|
| Europe | 18.2% |
| Latin America | 36.5% |
| Asia | 44.0% |
| M.E.A. | 1.3% |
Total Revenue: NT$ 233 Million.
Regional Sales Allocation 2025 H1
Pie chart showing sales distribution by region.
| Region | % of Sales |
|---|---|
| Europe | 21.4% |
| Latin America | 36.5% |
| Asia | 39.8% |
| M.E.A. | 2.3% |
Total Revenue: NT$ 467 Million.
2025 New Products Agenda
Circular diagram categorizing new products: Audio, Copilot, Bluetooth, USB C.
Images shown: HS-810BT Foldable Bluetooth Headset, SP-915BT 5 Watts Bluetooth Speaker, Copilot product packaging, USB-C Fast Charging Cable.
More AI Copilot Mice launching
Images and descriptions of AI Copilot mice.
New Smile Design:
Features Smile Design, BT+2.4G dual mode, and Rechargeable battery.
AI Copilot Design:
Showcases mice with AI Copilot functionality.
Eco-friendly Design:
Highlights USB-C Rechargeable Li-Ion battery.
Diagram shows mouse buttons: Left button, Middle button with wheel, Right button, Forward, Backward, DPI Switch, Copilot AI button, Microphone Input button. Also shows AI Copilot assistant activation and voice typing enablement.
More AI Copilot Mice launching
Images and descriptions of AI Copilot mice.
BT+2.4G / Ergonomic/ Silent:
Features dual mode connectivity (Bluetooth & 2.4GHz), ergonomic design for comfort, and silent operation. Includes AI Copilot assistant features for Windows 11, enabling voice typing and natural wrist posture (55° tilt).
Images show mice in Dark Grey and White+Grey colors, as well as a Limited Edition series in Pearl White, Silver, Light Blue, Pink, and Pine Wood finishes.
Copilot AI Dual Mode Keyboard/Mouse BT+2.4G AI Keyboards/K+M Combo
Images of Genius Copilot AI keyboard and mouse combo.
Keyboard Features:
- Dual Mode: Bluetooth & 2.4GHz Wireless
- Office Editing shortcuts (Cut, Copy, Paste, SniPaste)
- Media Playback controls (Play, Next/Previous Track, Volume +/- , Mute)
- Microphone button
- Calculator function for faster input
- Retro typewriter keycaps
- FN Lock for switching hotkeys
Mouse Features:
- 2.4GHz Wireless with USB receiver (Plug and Play)
- AI Copilot functionality
USB-C/ Hi-Fi Wood Bluetooth Speakers BT Speakers
Images of Genius Bluetooth speakers.
- SP-915BT: Compact Bluetooth speakers available in Black, Red, Blue, and Grey. Features 6W RMS power.
- SP-HF800BT: 20-Watts Bluetooth Wood Speakers, offering Hi-Fi audio quality with a classic wood finish.
Bluetooth/Copilot/USB-C Headsets
Images of Genius headsets.
- HS-810BT: Foldable Bluetooth Headset with Bluetooth 5.3.
- HS-235U AI: Copilot USB Headset with AI features.
- HS-M365: In-ear USB-C Earbuds.
Accessories
Images of various Genius accessories.
- USB-C Hub
- Fast Charging Cables: USB-A to USB-C, 150cm.
- Aluminum Laptop Stand: G-Stand M250.
- Fast Chargers: 20W USB-C Fast Charger, 36W Fast Car Charger.
GX Gaming Peripherals GX Series
Images of Genius GX gaming products.
- Wireless Gaming Mouse: Dual Mode Bluetooth & 2.4GHz Wireless, AI Copilot, 18 KEY Anti-Ghosting, 3200 DPI, RGB Backlit.
- Gaming Keyboard: K12 Illuminated Mechanical Keyboard, KM-GX4 Gaming Combo.
- Gaming Headset: Features 50mm Drivers, Stereo Sound, USB Plug & Play, ergonomic design, comfortable ear pads, and in-line controls for mute and volume.
- Gaming Steering Wheel and Pedals.
Products Portfolio 2025 Q2
Pie chart showing sales breakdown by product category for Q2 2025.
| Product Category | % of Sales |
|---|---|
| Dashcams | 38.1% |
| Mice | 22.0% |
| Keyboards | 19.8% |
| Speakers | 5.1% |
| Video Imaging | 5.3% |
| Headsets | 3.1% |
| Others | 6.7% |
Products Portfolio 2025 H1
Pie chart showing sales breakdown by product category for H1 2025.
| Product Category | % of Sales |
|---|---|
| Dashcams | 35.2% |
| Mice | 24.0% |
| Keyboards | 21.2% |
| Speakers | 5.1% |
| Video Imaging | 4.7% |
| Headsets | 2.9% |
| Others | 6.8% |
Sales by Products 2025 H1
Table showing sales performance by product category.
| PRODUCTS | 2025 Q2 Units yoy | 2025 Q2 Revenues yoy | 2025 H1 Units yoy | 2025 H1 Revenues yoy |
|---|---|---|---|---|
| Mouse | -16.6% | -24.7% | -11.3% | -12.1% |
| Keyboard | -8.4% | -23.1% | -6.8% | -14.5% |
| Speaker | -7.7% | -8.6% | -11.9% | -4.2% |
| Headset | 6.7% | -6.5% | 7.1% | 8.1% |
| Video Imaging | -9.6% | 20.2% | 18.5% | 18.0% |
| Dashcam | -16.5% | -9.8% | -17.3% | -5.3% |
Markets & Products Strategy
1. Key Customer Growth:
- Czech Republic (CZ)
- Colombia (CO)
- Argentina (AR)
- Central America
2. New Customer Development:
- Latin America (LA): Costa Rica, Chile (CL), Argentina (AR), Brazil (BR), Mexico (MX)
- Asia: Saudi Arabia (SA), Vietnam (VN), Philippines (PH), Thailand (TH), Sri Lanka (LK)
3. Strategic Product Sales:
- Silent mice
- Ergonomic products
- Gaming peripherals
- Bluetooth Headsets (BT HS)
- Type-C products
- AI Peripherals
2025 Business Concern Topics
- AI PC driving peripheral market opportunities: AI PC Peripheral / CoPilot Application.
- Win11 Upgrade Demands.
- Tariff/Exchange Rate/Interest Rate fluctuations.
- US-China Strategic Competition.
- Geopolitical Conflicts & War.
- Latin America Import Recovery and Sustainability.
- Global Macro Economy trends.
SWOT Analysis
Strengths:
- Comprehensive product line and combo offerings.
- Growing brand awareness, customer base, and sales channels in emerging markets.
- Solid financial position and cash conversion capabilities.
- Minimal impact from US tariffs.
- Flexible operational strategies.
Weaknesses:
- Overall operations and sales volume have not yet reached significant economic scale.
- Customer base primarily consists of small, regional distributors.
- Products are in a mature industry with limited potential for explosive growth.
- Lower business visibility.
Opportunities:
- Market opportunities driven by AI PC adoption: AI PC Peripheral / CoPilot Application.
- Upgrade demand driven by Windows 11.
- Continued recovery in Latin American demand.
Threats:
- Exchange Rate/Interest Rate volatility.
- US-China strategic competition.
- Geopolitical conflicts and wars.
- Competition from counterfeit, unbranded, and local brands.
