ASUS
2025 Q2 Investor Briefing
Disclaimer
This presentation and related information contain forward-looking statements obtained from internal and external sources. The actual operating results, financial condition, and business outlook of the company may differ from the estimates indicated or implied by these forward-looking statements due to various risks beyond the company's control. The outlook presented herein reflects the company's views as of the current date. The company is not obligated to update or revise these views at any time should any changes or adjustments occur.
Agenda
- 2025 Q2 Financial Results
- Strategy and Outlook
- Q&A
2025 Q2 Financial Results
Income Statement (Self-Reported Brand Consolidated)
in NT$ Mn
| 2025 2Q | 2025 1Q | QoQ | 2024 2Q | YoY | |
|---|---|---|---|---|---|
| Net Revenue | 174,018 | 135,188 | 29% | 136,260 | 28% |
| COGS | (152,490) | (114,213) | 34% | (111,376) | 37% |
| Gross Profit | 21,527 | 20,975 | 3% | 24,884 | -13% |
| Operating Expenses | (15,568) | (14,877) | 5% | (14,200) | 10% |
| Bad Debt | - | 5,351 | - | - | - |
| Operating Profit | 5,959 | 11,449 | -48% | 10,684 | -44% |
| Non-OP Items | 5,148 | 3,762 | 37% | 4,005 | 29% |
| Pre-Tax Profit | 11,107 | 15,211 | -27% | 14,688 | -24% |
| Tax | (1,301) | (2,421) | -46% | (2,885) | -55% |
| Net Profit | 9,806 | 12,791 | -23% | 11,804 | -17% |
| EPS | 13.2 | 17.2 | - | 15.9 | - |
| Gross Margin % | 12.4% | 15.5% | - | 18.3% | - |
| Operating Margin % | 3.4% | 8.5% | - | 7.8% | - |
| w/o bad debt | |||||
| Operating Profit (pro forma) | 5,959 | 6,098 | -2% | 10,684 | -44% |
| OPM% (pro forma) | 3.4% | 4.5% | - | 7.8% | - |
(Unaudited brand consolidated financials)
Non-Operating Items (Self-Reported Brand Consolidated)
in NT$ Mn
| 2025 2Q | 2025 1Q | QoQ | 2024 2Q | YoY | |
|---|---|---|---|---|---|
| Interest Income (net) | 912 | 749 | 22% | 682 | 34% |
| Investment Income | 1,076 | 1,443 | -25% | 668 | 61% |
| Askey | 112 | 109 | 3% | (146) | 177% |
| Others | 964 | 1,334 | -28% | 814 | 18% |
| Exchange Gain/(Loss) | 1,092 | 1,355 | -19% | 805 | 36% |
| Dividend Income | 2,031 | 8 | 24875% | 1,806 | 12% |
| Other Income (net) | 36 | 207 | -83% | 44 | -17% |
| Total Non-OP Items | 5,148 | 3,762 | 37% | 4,005 | 29% |
(Unaudited brand consolidated financials)
Balance Sheet (Self-Reported Brand Consolidated)
in NT$ Mn
| Jun 30, 2025 | Mar 31, 2025 | QoQ | Jun 30, 2024 | YoY | |
|---|---|---|---|---|---|
| Cash & equivalents | 77,891 | 86,456 | -10% | 40,882 | 91% |
| Accounts receivable | 116,636 | 100,678 | 16% | 103,036 | 13% |
| Inventories | 140,793 | 144,807 | -3% | 145,361 | -3% |
| Current Assets | 359,647 | 354,579 | 1% | 310,489 | 16% |
| Long-term investments | 115,218 | 127,928 | -10% | 139,145 | -17% |
| Fixed assets | 14,658 | 15,084 | -3% | 14,637 | 0% |
| Total Assets | 517,427 | 524,471 | -1% | 490,923 | 5% |
| Accounts payable | 90,136 | 76,142 | 18% | 64,168 | 40% |
| Current Liabilities | 249,091 | 216,703 | 15% | 205,033 | 21% |
| Total Liabilities | 273,237 | 242,523 | 13% | 227,779 | 20% |
| Paid-in capital | 7,428 | 7,428 | - | 7,428 | - |
| Stockholders' equity | 244,190 | 281,948 | -13% | 263,144 | -7% |
| Avg. Days of Inventory | 101 | 110 | - | 123 | - |
| Avg. Days of AR | 65 | 64 | - | 69 | - |
| Avg. Days of AP | 62 | 58 | - | 55 | - |
| Avg. CCC Days | 104 | 116 | - | 136 | - |
2025 Q2 Revenue Mix
By Business Group
Pie chart description: Revenue breakdown by business group.
- System: 52%
- Open Platform: 46%
- AIoT: 2%
By Region
Pie chart description: Revenue breakdown by region.
- ASIA: 55%
- EURP: 23%
- America: 22%
2025 Q3 Business Outlook
- PC: Quarter-over-Quarter (QoQ) growth of +5% to +10%.
- Component & Server: Quarter-over-Quarter (QoQ) growth is expected to be flat.
Strategy and Outlook
New Revenue Heights: Dual-Engine Growth
Revenue in NT$ Mn
Description of stacked bar chart showing revenue growth from 2Q 2024 to 2Q 2025:
- 2Q 2024 Revenue: 136,260
- 2Q 2025 Revenue: 174,018 (YoY +28%)
- Segment Breakdown (2Q 2025):
- Consumer: 30% (YoY +4%)
- Gamer: 48% (YoY +40%)
- Enterprise: 22% (YoY +45%)
Key Strategies:
- Gaming & Enterprise drive record revenue peaks.
- Driving growth through product cycle leadership and in-depth user engagement.
- Growing enterprise client base with exceptional products, services, and solutions.
No.1 Gaming Brand and Ecosystem
Gaming PC: Year-over-Year (YoY) Growth 30%
Graphics Card: Year-over-Year (YoY) Growth 50%
Slogan: EVOLVE THE PLAYER EXPERIENCE X REDEFINE HANDHELD GAMING
Visuals showcase:
- ROG STRIX SCAR 18
- ROG Astral GeForce RTX™ 5080
- ROG XBOX ALLY / ALLY X
No.1 Gaming Brand and Ecosystem (Continued)
Leadership: ROG x XBOX
The ROG Ally-Xbox partnership merges ROG's hardware innovation with Xbox's rich content, offering gamers an innovative and seamless experience.
ASUS demonstrates undeniable leadership across all new gaming product innovations and features.
Community: ROG x Hatsune Miku
ASUS drives the most extensive and impactful cross-industry collaborations and community connections.
Our deep community engagement not only strengthens brand affinity but also empowers gamers with a powerful sense of shared purpose.
Ubiquitous AI. Incredible Possibilities
- Comprehensive, end-to-end products and solutions.
- Optimized solutions combine best-in-class flexibility, speed, total cost of ownership, and user-centric support.
Diagram illustrating AI deployment across Cloud, Local, and Edge:
- Cloud: AI Server (HPC Infrastructure)
- Local: On-premise Solutions (Turn-key Solution for Enterprise GAI)
- Edge: AI at the Edge (Enable Real-time Insights)
- PC: AI on the PC (Redefine the PC with AI)
System Business Group - 2025 Q2 Performance
25Q2 Revenue: +15%~20% YoY
Gaming PC Revenue: +30%~40% YoY
Commercial PC Revenue: +30%~40% YoY
Description of bar charts showing 2Q 2024 vs 2Q 2025 performance for each category.
Business Highlights:
- ASUS is once again leading the new product cycle for gaming PCs.
- The commercial PC business is making rapid progress in both market coverage and client expansion.
- Driven by a user-centric principle, ASUS is evolving from a consumer brand into a more comprehensive and powerful industry leader.
Open Platform Business Group - 2025 Q2 Performance
25Q2 Revenue: +40%~50% YoY
YoY Growth Across the Board:
- Motherboard: 20+%
- Server: 40+%
- Graphics Card: 50+%
Leadership in Next-Gen Graphics cards: >75% for RTX 50 series.
Business Highlights:
- ASUS maintains global No.1 market share in motherboards and graphics cards.
- ASUS's RTX 50 in-house share exceeds 75%, fulfilling gamers' upgrade needs and delivering an unparalleled gaming experience.
- Mass production of B300/GB300 servers will begin in late Q3, supported by new global CSP client wins.
AIoT Business Group - 2025 Q2 Performance
25Q2 Revenue: +10%~15% YoY
ASUS Edge AI Powers Intelligent Traffic Systems
Description of images showing traffic monitoring systems with features like Accident and Pedestrian Loitering Detection, Tunnel Wrong-Way Driving Violation Detection, Tunnel Debris Detection, Tunnel Motorcycle Intrusion Detection.
ASUS Healthcare Gains Key Medical Certifications
Description of images showing a smartwatch (VivoWatch) and a medical display, highlighting key medical certifications.
Business Highlights:
- Expanding AI applications across domains, ASUS delivers edge server solutions that safeguard Taiwan's longest tunnel with 24/7 intelligent monitoring and analytics.
- ASUS advances healthcare innovation with key certifications, including FDA Thailand for the VivoWatch ECG app, and FDA (US), TFDA, and EU MDR for MH Series clinical displays.
Awards and Achievements
ASUS won 41 prestigious Red Dot Design Awards for Product Design in 2025, showcasing world-class excellence.
ASUS won multiple Best Choice Awards at Computex 2025, underscoring its leadership in gaming and sustainability.
