From GlobeNewswire: 2025-02-11 07:00:00

GlobalFoundries Inc. reported preliminary financial results for Q4 and full year 2024. Q4 highlights include revenue of $1.830 billion, net loss of $729 million, and ending cash of $4.2 billion. For full year 2024, revenue was $6.750 billion, with a net loss of $262 million. The company is optimistic about strong design wins in 2025.

In Q4 2024, GlobalFoundries recorded a $935 million impairment charge on long-lived assets in Malta for technology diversification. The one-time event aims to align with the technology transfer strategy. Recent business highlights include partnerships with IDEMIA and Lightmatter to advance smart card technology and AI interconnect solutions.

GlobalFoundries announced first-quarter 2025 guidance with an expected revenue of $1.55-$1.60 billion. Non-IFRS gross margin is projected at 23%, and non-IFRS net income margin at 10.3%. The company continues to focus on innovative solutions and enhancing its product portfolio for sustained growth.

Financial metrics like Non-IFRS adjusted free cash flow and Non-IFRS adjusted EBITDA provide insights into GF’s financial health and operational performance. The company’s commitment to transparency and clear reporting demonstrates its dedication to providing useful information to investors and stakeholders.

GlobalFoundries will host a conference call on February 11, 2025, to discuss the fourth-quarter and full-year results in detail. Interested parties can join the call to gain further insights into the company’s financial performance and strategic outlook for 2025. The call will be webcast and accessible on the GF Investor Relations website.

Amidst evolving market conditions and technological advancements, GlobalFoundries remains focused on innovation and operational excellence. The company’s unique mix of design, development, and fabrication services positions it as a key player in the semiconductor industry. GF’s global footprint and diverse workforce contribute to its trusted technology source status.



Read more at GlobeNewswire:: GlobalFoundries Reports Fourth Quarter 2024 and Fiscal Year