Mi Material posts US$11.4 million adjusted quarterly profit
The Singapore semiconductor materials maker reported revenue of US$37.8 million and expects fourth-quarter sales to exceed the third quarter.
Mi Material reported US$11.4 million in adjusted profit after tax for the quarter ending Sep 30, alongside a 15.6 per cent quarter-on-quarter rise in revenue. The Singapore-headquartered semiconductor packaging materials manufacturer announced the figures on Oct 29, following its mainboard listing debut.
Quarterly revenue reached US$37.8 million, compared with US$32.7 million in the previous quarter. In its bourse filing, the company linked improved profitability to sustained demand for its semiconductor packaging materials.
For the first nine months of 2026, adjusted profit after tax totalled US$25.7 million, exceeding the US$10.5 million recorded for the whole of FY2025. Revenue for the nine-month period was US$91.5 million, against full-year revenue of US$65.3 million in FY2025.
The company attributed its nine-month revenue growth to higher sales volumes and average selling prices. It cited demand for its patented alloy solder spheres among customers serving high-performance computing, memory, mobility and wearables markets.
Mi Material expects fourth-quarter revenue to surpass the third quarter, citing historical trends. Its priorities include adjusting production schedules and order allocation for peak fourth-quarter demand, preserving gross margins through raw-material cost passthrough and starting production in Senai, Malaysia.
The shares finished Oct 29 at S$1.80 before the results announcement, falling S$0.02, or 1.1 per cent. That matched the initial public offering price, after a debut closing price of S$1.82.
