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On Semiconductor 8-K Report, Financial Results (Aug 4, 2025)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed August 4, 2025
Period End
August 4, 2025
Security
ON
In the record · 2016–202610-K1110-Q338-K162

ON filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 162 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Oct ’18Oct ’18
  2. Leadership change8-K · Oct ’20Oct ’20
  3. Impairment8-K · Sep ’22Sep ’22
  4. Material agreement8-K · Nov ’26Nov ’26

01—Abstract

Summary

Summary of the 8-K filed August 4, 2025. Cited figures are marked; the original filing is the authoritative source.

onsemi (Nasdaq: ON), filing under the name ON Semiconductor Corporation, furnished this Form 8-K under Item 2.02 to publish its second quarter 2025 results for the quarter ended July 4, 2025, via a news release attached as Exhibit 99.1.

Revenue was $1,468.7 milliona, compared with $1,445.7 million in the first quarter of 2025 and $1,735.2 million in the second quarter of 2024. GAAP gross margin was 37.6% and non-GAAP gross margin was also 37.6%. GAAP operating margin was 13.2% and non-GAAP operating margin was 17.3%.

GAAP diluted EPS was $0.41b and non-GAAP diluted EPS was $0.53, compared with GAAP diluted loss per share of $1.15 in the first quarter, which reflected restructuring, asset impairment and related charges. Cash flow was $184.3 million from operations and free cash flow was $106.1 million in the quarter. Management stated that the company returned over 100% of year-to-date free cash flow through share repurchases, and repurchases of common stock were $302.3 million in the quarter and $602.4 million for the six months.

Cash and cash equivalents were $2,526.7 millionc at July 4, 2025, and long-term debt was $3,350.7 million. CEO Hassane El-Khoury said the company is beginning to see signs of stabilization across its end markets.

For the third quarter of 2025, onsemi guided to revenue of $1,465 million to $1,565 milliond, GAAP gross margin of 36.4% to 38.4%, and GAAP diluted EPS of $0.51 to $0.61, or $0.54 to $0.64 on a non-GAAP basis, on 410 million diluted shares. The filing states that the information is furnished and not deemed filed under Section 18 of the Exchange Act.

02—Key points

Key Highlights

  1. Revenue of $1,468.7 million in Q2 2025, up from $1,445.7 million in Q1 2025 but down from $1,735.2 million in Q2 2024.
  2. GAAP diluted EPS of $0.41 versus a GAAP diluted loss of $1.15 in Q1 2025; non-GAAP diluted EPS of $0.53 versus $0.55 in Q1 2025.
  3. Gross margin of 37.6% (GAAP and non-GAAP), compared with 20.3% GAAP gross margin in Q1 2025, which included $283.4 million of restructuring-related inventory and other charges.
  4. Cash from operations of $184.3 million and free cash flow of $106.1 million in Q2 2025; year-to-date free cash flow was $560.8 million.
  5. Share repurchases of $302.3 million in Q2 2025 and $602.4 million year to date, which management says exceeded 100% of year-to-date free cash flow.
  6. Q3 2025 outlook calls for revenue of $1,465 million to $1,565 million and non-GAAP diluted EPS of $0.54 to $0.64.
  7. Segment revenue in Q2 2025: PSG $698.2 million (up 8% sequentially), AMG $555.9 million, and ISG $214.6 million.

03—Questions

Frequently Asked Questions

  1. How did onsemi perform in the second quarter of 2025?

    Revenue was $1,468.7 million, GAAP diluted EPS was $0.41, and non-GAAP diluted EPS was $0.53. GAAP operating margin was 13.2% and non-GAAP operating margin was 17.3%. Revenue was up from the first quarter of 2025 but down from the second quarter of 2024, when revenue was $1,735.2 million.

  2. Why was the first quarter of 2025 loss so large compared with the second quarter?

    The first quarter GAAP results included $539.3 million of restructuring, asset impairments and other charges, net, and $283.4 million of restructuring-related inventory and other charges, which together drove the GAAP net loss attributable to ON Semiconductor Corporation of $486.1 million.

  3. What is the company's capital return activity?

    The company repurchased $302.3 million of common stock in the second quarter and $602.4 million in the first six months of 2025. Management states that it returned over 100% of year-to-date free cash flow through share repurchases.

  4. What guidance did onsemi provide for the third quarter of 2025?

    The company expects revenue of $1,465 million to $1,565 million, GAAP gross margin of 36.4% to 38.4%, and GAAP diluted EPS of $0.51 to $0.61. On a non-GAAP basis, it expects gross margin of 36.5% to 38.5% and diluted EPS of $0.54 to $0.64, based on 410 million diluted shares.

04—Continue

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