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1556898 Techpoint

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

10 Aug 21
19 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Techpoint earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
7 Oct 21 Maureen A. Monahan Common Stock Payment of exercise Dispose F No No 13.05 4,529 59.1K 60,471
3 Jun 21 Noriko Tsujihiro Common Stock Option exercise Acquire M No No 0 1,458 0 1,458
3 Jun 21 Noriko Tsujihiro RSU Common Stock Option exercise Dispose M No No 0 1,458 0 0
3 Jun 21 Noriko Tsujihiro RSU Common Stock Grant Acquire A No No 0 9,000 0 9,000
3 Jun 21 Liu Fun-Kai Common Stock Option exercise Acquire M No No 0 7,500 0 1,002,500
3 Jun 21 Liu Fun-Kai RSU Common Stock Option exercise Dispose M No No 0 7,500 0 0
3 Jun 21 Liu Fun-Kai RSU Common Stock Grant Acquire A No No 0 9,000 0 9,000
3 Jun 21 Noriko Tsujihiro Common Stock Option exercise Acquire M No No 0 1,458 0 1,458
3 Jun 21 Noriko Tsujihiro RSU Common Stock Option exercise Dispose M No No 0 1,458 0 0
3 Jun 21 Noriko Tsujihiro RSU Common Stock Grant Acquire A No No 0 9,000 0 9,000

Financial report summary

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Risks
  • Our limited operating history makes it difficult to evaluate our current business and future prospects.
  • We face intense competition, including from our end-customers and potential end-customers, and we may not be able to compete effectively, which could reduce our market share and decrease our revenue and profitability.
  • Our revenue and operating results will fluctuate from period to period, which could cause the market price of our JDS to decline.
  • We manufacture our products based on our estimates of end-customer demand, and if our estimates are incorrect or our end-customers cancel their orders our financial results could be negatively impacted.
  • If we fail to develop new products and enhance our existing products in order to react to rapid technological change and market demands, our business will suffer.
  • We rely on a limited number of independent subcontractors for the manufacture, assembly and testing of our semiconductors, and the failure of any of these third-party vendors to deliver products or otherwise perform as requested could damage our relationships with our end-customers, decrease our sales and limit our growth.
  • Changes to industry regulations relevant to our products and markets could adversely affect our business, results of operations and prospects.
  • We rely on our relationships with Original Design Manufacturers, or ODM, to enhance our solutions and market position, and our failure to continue to develop or maintain such relationships in the future would harm our ability to remain competitive.
  • We have operations outside of the United States and intend to expand our international operations, which exposes us to significant risks.
  • We face risks related to health epidemics which could adversely affect our business, financial condition and results of operations.
  • We face risks associated with doing business in China.
  • Changes in the U.S. trade environment, including potential changes in international trade relations between China and the United States, could adversely affect the amount or timing of our revenue, results of operations or cash flows.
  • Due to the cyclical nature of the semiconductor, electronics and automotive industries, our operating results may fluctuate significantly, which could adversely affect the market price of our JDS.
  • Our headquarters are located in the State of California and we have operations in Japan, which we intend to expand, which are areas subject to significant earthquake risks and other natural disasters. Any disruption to our or our third-party vendors’ operations resulting from earthquakes or other natural disasters could cause significant delays in the production or shipment of our product.
  • Uncertain geopolitical conditions could have a material adverse effect on our business and the market on which our JDS currently trade, which could cause the market price of our JDS to decline.
  • Our sales cycle can be lengthy, which could result in uncertainty and delays in generating revenue.
  • We may experience difficulties in transitioning to new wafer fabrication process technologies or in achieving higher levels of design integration, which may result in reduced manufacturing yields, delays in product deliveries and increased expenses.
  • The complexity of our products may lead to errors, defects and bugs, which could negatively impact our reputation with end-customers and result in liability or a product recall, particularly in the automotive industry.
  • Our costs may increase substantially if our third-party manufacturing contractors do not achieve satisfactory product yields or quality.
  • If we fail to achieve initial design wins for our products, we may lose the opportunity for sales for a significant period of time to end-customers and be unable to recoup our investments in our products.
  • If sales of our end-customers’ products decline or if their products do not achieve market acceptance, our business and operating results could be adversely affected.
  • In order to comply with environmental laws and regulations, we may need to modify our activities or incur substantial costs, and if we fail to comply with environmental regulations we could be subject to substantial fines or be required to have our suppliers alter their processes.
  • Intellectual property litigation, which is common in our industry, could be costly, harm our reputation, limit our ability to sell our products and divert the attention of management and technical personnel.
  • Failure to protect our intellectual property could substantially harm our business.
  • A breach of our information and physical security systems may damage our reputation, subject us to lawsuits and adversely affect our business.
  • If we fail to hire additional finance personnel and strengthen our financial reporting systems and infrastructure, we may not be able to timely and accurately report our financial results or comply with the requirements of being a public company, including compliance with the U.S. Sarbanes-Oxley Act, the SEC, and Japanese reporting requirements.
  • We will continue to incur significantly increased costs and devote substantial management time as a result of operating as a public company that is subject to both U.S. and Japanese regulations.
  • If we are unable to implement and maintain effective internal control over financial reporting in the future, investors may lose confidence in the accuracy and completeness of our financial reports and the market price of the JDS may be negatively affected.
  • Regulations related to “conflict minerals” may force us to incur additional expenses, may make our supply chain more complex and may result in damage to our reputation with end-customers.
  • We are an emerging growth company. We cannot be certain if the reduced disclosure requirements applicable to emerging growth companies will make our JDS less attractive to investors.
  • The issuance of new accounting standards or future interpretations of existing accounting standards could adversely affect our operating results.
  • Management may apply our cash and cash equivalents to uses that do not increase our market value or improve our operating results.
  • Japanese Depositary Shares are a relatively new form of security and there could be unforeseen difficulties or risks associated with JDS.
  • Prior to our initial public offering in September 2017, there was no prior public market for the JDS or our underlying common stock, and the market price of our JDS may be volatile or may decline regardless of our operating performance.
  • Due to daily price range limitations under Japanese stock exchange rules, our JDS may not be sold at a particular price on any particular trading day, or at all.
  • If securities analysts do not publish research or reports about our business or if they downgrade the JDS, the trading price of our JDS could decline.
  • Because the trading market for our JDS is the Mothers market of the Tokyo Stock Exchange, the corporate governance rules of the major U.S. stock exchanges will not apply to us. As a result, our governance practices may differ from those of a company listed on such U.S. exchanges.
  • JDS holders do not have stockholders’ rights.
  • We do not presently intend to facilitate secondary trading of our JDS or common stock in the United States and we are not taking any of the steps necessary to register our JDS or common stock with the securities division of any state within the United States or seek an exemption for such secondary trading.
  • If we decide to directly list our common stock in the future, the trading price of our JDS could decline.
  • We do not intend to pay dividends for the foreseeable future.
  • Holders of our JDS may not receive distributions on our common stock or any value for them if it is illegal or impractical to make them available to JDS holders.
  • Our restated certificate of incorporation provides that the Court of Chancery of the State of Delaware is the exclusive forum for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees.
Management Discussion
  • Revenue increased $8.5 million, or 120%, for the three months ended June 30, 2021 as compared to the three months ended June 30, 2020. This was primarily attributable to a $4.6 million increase in automotive market revenue as a result of a 108% increase in the volume of shipments and a $3.9 million increase in security surveillance market revenue due to a 151% increase in the volume of shipments partially offset by a decrease in average selling price attributable to product mix. 
  • Revenue increased $15.6 million, or 107%, for the six months ended June 30, 2021 as compared to the six months ended June 30, 2020. This was primarily attributable to a $8.3 million increase in security surveillance market revenue as a result of a 141% increase in the volume of shipments partially offset by a decrease in average selling price attributable to product mix, and a $7.3 million increase in automotive market revenue due to a 96% increase in the volume of shipments. 
  • We have determined that pricing of our products remains stable in our target markets.  Fluctuation in our overall average selling price is directly attributable to changes in product mix given the natural pricing variation of the products in our portfolio. When the product mix shifts towards the higher priced products in our portfolio, the average selling price will be higher than when the product mix shifts towards the lower price point products.
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