Silicom (SILC) has released an update.
Silicom Ltd. faced a challenging Q2 2024 with revenues dropping to $14.5 million from $38.1 million in Q2 2023 and a net loss on both GAAP and non-GAAP bases, contrasting with profits in the previous year. Despite these setbacks and a conservative outlook for the remainder of the year, the company remains optimistic about long-term growth, bolstered by a robust sales pipeline and strategic share repurchases. Silicom continues to maintain a strong cash position and focus on strategic planning to navigate through extended sales cycles and market slowdowns.
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