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onsemi reported fourth quarter revenue of $1,530 million, alongside strong cash generation and continued investment in intelligent power and sensing technologies.
For the fourth quarter, GAAP gross margin was 36.0%, with non-GAAP gross margin at 38.2%. GAAP operating margin came in at 13.1%, while non-GAAP operating margin reached 19.8%. GAAP diluted earnings per share were $0.45, compared with non-GAAP diluted EPS of $0.64.
For full-year 2025, onsemi generated $1.8 billion in cash from operations and $1.4 billion in free cash flow, achieving a record free cash flow margin of 24%.
“We remained disciplined in our execution and met expectations in the fourth quarter as we saw increasing signs of stabilization in our key markets,” said Hassane El-Khoury, President and CEO of onsemi. “We continue to invest in intelligent power and sensing technologies that position us to win in the most critical technology transitions shaping our industry. Our strategy is clear: lead in automotive, industrial, and AI data center power with innovation that delivers higher-value solutions for our customers and long-term returns for our shareholders.”
Thad Trent, EVP and CFO of onsemi, added that the company returned 100% of its annual free cash flow to shareholders through share repurchases in 2025. He noted that with major investment cycles largely complete and new technologies ramping, the company is focused on cost structure improvements, operational excellence and margin expansion as market conditions recover.
During the quarter, onsemi authorized a new share repurchase program of up to $6 billion over the next three years. The company also introduced vertical gallium nitride (vGaN) power semiconductors, targeting higher power density, improved efficiency and enhanced ruggedness.
In addition, onsemi signed a memorandum of understanding with Innoscience to explore expanded production of GaN power devices using Innoscience’s 200 mm GaN-on-silicon process. The company further strengthened its GaN roadmap by establishing a collaboration agreement with GlobalFoundries (GF) to develop and manufacture next-generation GaN power devices, beginning with 650 V products.
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onsemi announced a collaboration agreement with GlobalFoundries to co-develop and manufacture advanced gallium nitride (GaN) power products on GF’s state-of-the-art 200 mm eMode GaN-on-silicon process, beginning with 650 V devices. The partnership pairs GF’s process platform with onsemi’s silicon drivers, controllers and thermally enhanced packaging to enable smaller, higher-efficiency systems for AI data centers, automotive, industrial, and aerospace, defense and security applications.
The roadmap targets power supplies and DC-DC converters for AI infrastructure, onboard chargers and DC-DC converters for electric vehicles, solar microinverters and energy storage systems, as well as motor drives and other high-growth industrial and mission-critical markets. By combining device technology and package integration, the companies aim to raise power density, improve efficiency and simplify system design.
“This collaboration brings together onsemi’s system and product expertise with GlobalFoundries’ advanced GaN process to deliver new 650 V power devices for high-growth markets. Paired with our silicon drivers and controllers, these GaN products will enable customers to innovate and build smaller, more efficient power systems for AI data centers, EVs, space applications and beyond. We are on track to begin providing samples to customers in the first half of 2026, and scale rapidly to volume production,” said Dinesh Ramanathan, Senior Vice President of Corporate Strategy, onsemi.
“By combining our 200 mm GaN-on-Si platform and U.S.-based manufacturing with onsemi’s deep system and product expertise, we’re accelerating high-efficiency solutions and building resilient supply chains for data centers, automotive, industrial, aerospace and defense, and other critical markets,” said Mike Hogan, Chief Business Officer, GlobalFoundries.
The effort expands onsemi’s intelligent power portfolio across low, medium and high-voltage lateral GaN and ultra high-voltage vertical GaN, enabling next-generation architectures that deliver more power in smaller footprints. Advantages include higher-frequency operation to reduce component count and size, bidirectional capability to unlock new topologies, and increased integration that combines GaN FETs with drivers, controllers, isolation and protection for faster design cycles and lower EMI.
Sampling is planned to begin in the first half of 2026.
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onsemi announced an extension of its long-standing strategic engagement with FORVIA HELLA, with the adoption of onsemi’s PowerTrench® T10 MOSFET technology across FORVIA HELLA’s advanced automotive platforms. The new long-term agreement deepens the companies’ collaboration and positions them to deliver innovative solutions through the next decade of automotive transformation.
PowerTrench® T10 MOSFET technology combines ultra-low conduction and switching losses to raise efficiency and power density in compact footprints while maintaining high reliability. The shielded gate power trench architecture reduces output capacitance and improves key figures of merit via lower drain-to-source resistance and gate charge—enablers for more efficient, cost-effective designs across a wide range of automotive applications. T10 power MOSFETs are manufactured at onsemi’s state-of-the-art facility in East Fishkill, NY.
“onsemi’s next-generation MOSFETs are a key enabler for our advanced automotive platforms. This collaboration allows us to offer our customers future-proof solutions with greater efficiency and reliability, supporting electrification and delivering innovative, cost-effective solutions that meet the demands of modern automotive systems,” said Sven Hoenecke, Executive Vice President, Purchasing, FORVIA HELLA.
“This extension underscores the strength of our 25-year collaboration with FORVIA HELLA and highlights the trust they place in onsemi to deliver next-generation power solutions. The integration of the T10 power MOSFETs will help enable the future of electrified and software-defined vehicles, where efficiency, performance, and scalability are critical,” said Simon Keeton, Group President, Power Solutions Group, onsemi.
As vehicle electrification accelerates and demand grows for higher-performing, compact and cost-effective power systems, the collaboration underscores the central role of power semiconductors in next-generation automotive architectures. By combining onsemi’s intelligent power portfolio with FORVIA HELLA’s systems expertise, the companies are addressing the rising electrical demands of automated driving, safety and electrification.
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onsemi has introduced its EliteSiC MOSFETs in the industry-standard T2PAK top-cool package, offering improved thermal performance and design flexibility for high-power, high-voltage applications. Targeting sectors such as electric vehicles (EVs), solar energy infrastructure, and energy storage systems, the new solution addresses the growing demand for efficiency and compactness in power electronics.
The newly released 650V and 950V EliteSiC MOSFETs combine onsemi’s advanced silicon carbide technology with the thermally optimized T2PAK top-cool package, providing designers with a powerful tool for tackling thermal challenges in automotive and industrial systems. Initial devices are already shipping to lead customers, with additional variants scheduled for release beginning in Q4 2025.
The EliteSiC T2PAK package enables direct thermal transfer from the MOSFET to the system heatsink, bypassing limitations of PCB-based cooling. This configuration supports superior heat dissipation and lower junction temperatures, resulting in:
- Reduced thermal resistance and improved thermal efficiency
- Lower component stress and extended system reliability
- Higher power density in smaller footprints
- Simplified thermal design for faster product development cycles
Technical Highlights of the T2PAK Top-Cool Package:
- Supports RDS(on) values ranging from 12 mΩ to 60 mΩ
- Minimizes stray inductance for improved switching speeds and reduced energy losses
- Combines thermal and switching performance advantages of TO-247 and D2PAK formats
- Offers direct die-to-heatsink contact, eliminating PCB thermal bottlenecks
This packaging innovation allows engineers to design more compact and thermally optimized systems, helping to meet the efficiency requirements of modern power applications in EV powertrains, solar inverters, industrial drives, and high-performance chargers.
With the integration of EliteSiC technology and the top-cool T2PAK format, onsemi continues to expand its capabilities in delivering advanced silicon carbide solutions for next-generation power electronics.
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onsemi has signed a memorandum of understanding (MoU) with Innoscience to explore a strategic collaboration focused on expanding the production of gallium nitride (GaN) power devices. The agreement leverages Innoscience’s proven 200mm GaN-on-silicon process and high-volume manufacturing capabilities, alongside onsemi’s strengths in system integration, drivers, and packaging, with the shared goal of accelerating the delivery of cost-effective, energy-efficient GaN solutions to a global market.
The collaboration aims to address the growing demand for high-efficiency power systems across industrial, automotive, telecom, consumer, and AI data center applications by combining onsemi’s GaN power solutions with Innoscience’s manufacturing scale. Initial focus will be on the low and medium-voltage GaN range (40–200V), with future development plans targeting a global GaN power device market projected to reach $2.9 billion by 2030.
Key benefits of the collaboration include:
- Expanded GaN Portfolio: The partnership supports the extension of onsemi’s low and medium-voltage GaN product line.
- Scalable Manufacturing: Access to Innoscience’s high-volume 200mm GaN-on-silicon capacity enables true mass-market deployment.
- System-Level Innovation: Combines advanced packaging, drivers, and integration expertise to support rapid time-to-market and cost-effective system design.
- Market Reach: Enables high-efficiency, compact power solutions for motor drives, EV converters, DC-DC power supplies, telecom infrastructure, and data centers.
Antoine Jalabert, Vice President of Corporate Strategy at onsemi, noted: “As power demands rise across every sector, GaN offers higher efficiency, smaller size, and lower energy losses compared to other materials. Through a collaboration with Innoscience, we expect to access the industry’s largest GaN production footprint and quickly scale our offerings to enable broader adoption in mainstream applications.”
Yi Sun, Senior Vice President of Product & Engineering at Innoscience, added: “GaN technology is essential to building more efficient power systems and reducing global energy consumption. We are excited to explore this collaboration with onsemi to accelerate GaN adoption and establish a platform for integrated system development.”
onsemi expects to begin sampling initial devices in the first half of 2026. This initiative builds upon its comprehensive intelligent power portfolio, which includes silicon, silicon carbide (SiC), and GaN technologies—positioning the company to deliver optimal power systems across next-generation electrified and AI-driven markets.
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onsemi has announced its financial results for the third quarter of 2025, reporting performance that surpassed expectations and reflected the continued effectiveness of its strategic execution.
The company posted revenue of $1,550.9 million, with a GAAP gross margin of 37.9 percent and a non-GAAP gross margin of 38.0 percent. GAAP operating margin was 17.0 percent, while non-GAAP operating margin reached 19.2 percent. Both GAAP and non-GAAP diluted earnings per share came in at $0.63.
Cash from operations totaled $418.7 million. Free cash flow rose 22 percent year-over-year to $372.4 million, representing 24 percent of total revenue. onsemi has repurchased $925 million in shares year-to-date, equating to approximately 100 percent of its free cash flow.
“Our third quarter results exceeded expectations, underscoring the strength of our strategy and the resilience of our business model,” said Hassane El-Khoury, President and CEO of onsemi. “We’re seeing continued signs of stabilization across our core markets, as well as positive growth in AI. As energy efficiency becomes a defining requirement for next-generation automotive, industrial, and AI platforms, we are expanding our offering to deliver system-level value that enables our customers to achieve more with less power.”
The company continues to see stabilization in its automotive and industrial segments, with accelerating opportunities in AI applications. Additional details, including its fourth quarter 2025 outlook, are available in the company’s full earnings disclosure.
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onsemi announced a new family of vertical gallium nitride (vGaN) power semiconductors intended to raise efficiency, power density, and ruggedness across high-demand applications, including AI data centers, electric vehicles, renewable energy, and aerospace and defense. Developed at the company’s Syracuse, New York facility, the GaN-on-GaN technology conducts current vertically through the device to support higher operating voltages and faster switching frequencies.
According to onsemi, the vGaN architecture can reduce conversion losses by nearly 50 percent versus current solutions while enabling smaller and lighter power systems through higher-frequency operation. The company holds more than 130 global patents related to vertical GaN covering process, device architecture, manufacturing, and systems innovations.
Key points
• Technology: GaN-on-GaN structure conducts current vertically, designed for high voltage and high-frequency switching
• Efficiency: Potential to cut power losses by almost 50 percent while improving thermal performance and power density
• Footprint: Devices are described as approximately three times smaller than commercially available lateral GaN alternatives
• Sampling: Initial 700 V and 1,200 V devices are sampling to early access customersTarget applications
• AI data centers: Higher-density 800 V DC-DC stages to improve cost per rack and reduce component count
• Electric vehicles: Smaller, lighter, and more efficient traction inverters
• Charging infrastructure: Faster, more compact, and rugged charging systems
• Renewable energy: Higher-voltage solar and wind inverter stages with lower losses
• Energy storage systems: High-density, bidirectional converters for batteries and microgrids
• Industrial automation: More efficient, cooler motor drives and robotics
• Aerospace, defense, and security: Compact, high-reliability power platformsMost GaN power devices are built on non-GaN substrates such as silicon or sapphire and conduct laterally across the surface. onsemi’s vGaN uses a GaN substrate and a vertical current path, which increases voltage handling, improves thermal stability, and enhances ruggedness under extreme operating conditions. The vertical approach is aimed at enabling higher operating frequencies, shrinking passives such as inductors and capacitors, and reducing overall system size and cooling requirements.
onsemi is currently sampling 700 V and 1,200 V vGaN devices to early access customers. Broader portfolio details and production timelines are expected to follow.
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onsemi announced that it has entered into an agreement with Aura Semiconductor to acquire rights to its Vcore power technologies including associated intellectual property (IP) licenses. This strategic deal will enhance onsemi’s power management portfolio and roadmap, accelerating the company’s vision to address the complete power tree in AI data center applications, from grid to core.
“This acquisition underscores our commitment to solving the energy and efficiency demands of tomorrow’s AI data centers by offering a full range of differentiated intelligent power solutions,” said Sudhir Gopalswamy, group president of the Intelligent Sensing and Analog and Mixed-Signal Group, onsemi. “Integrating these technologies into our broader power management portfolio will enable us to deliver solutions with superior power density, efficiency and thermals and enable more compute capacity per rack.”
With decades of innovation in silicon and silicon carbide (SiC) technologies, onsemi offers industry leading solutions for solid state transformers, power supply units, 800 VDC distribution, and core power delivery. With the integration of these technologies, onsemi will be one of the few companies capable of meeting the stringent power requirements of modern AI infrastructure with scalable, practical designs.
onsemi expects that this transaction will have minimal impact to its GAAP and non-GAAP earnings per share in the first fiscal year following close and accretive thereafter. The transaction is expected to close in the fourth quarter of 2025, subject to customary closing conditions. The above descriptions of the agreement and acquisition are not exhaustive and are qualified by the related information disclosed in the Current Report on Form 8-K that onsemi files with the Securities and Exchange Commission (the “SEC”).
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onsemi announced that select Xiaomi YU7 electric SUV models feature an advanced 800V drive platform powered by onsemi’s EliteSiC M3e technology. The EliteSiC M3e platform features superior performance and efficiency enabling automakers to design smaller, lighter, and more robust traction systems for electric vehicles (EV).
By integrating onsemi’s EliteSiC M3e technology into the traction inverter, the platform is able to achieve better performance and power density while reducing overall system cost and unlocking longer range for drivers.
With the lowest on-resistance in the industry, onsemi’s EliteSiC technology also raises the bar for peak power delivery within a smaller footprint to enable faster acceleration for vehicles without any sacrifice in efficiency and range.
“onsemi’s EliteSiC technology delivers industry-leading efficiency, power density, and thermal performance, enabling the development of electric vehicles with longer range, faster acceleration, and greater reliability,” said Simon Keeton, group president, Power Solutions Group, onsemi. “Our industry-leading silicon carbide technology is redefining what’s possible in next-generation electric mobility.”
As the global shift toward electrification accelerates, onsemi’s EliteSiC solutions continue to power next-generation EVs by enabling higher power density, improved thermal performance, and superior energy efficiency – making longer ranges and higher performance the new standard.
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onsemi announced its second quarter 2025 results with the following highlights:
- Revenue of $1,468.7 million
- GAAP gross margin and non-GAAP gross margin of 37.6%
- GAAP operating margin and non-GAAP operating margin of 13.2% and 17.3%, respectively
- GAAP diluted earnings per share and non-GAAP diluted earnings per share of $0.41 and $0.53, respectively
- Cash from operations of $184.3 million and free cash flow of $106.1 million
“Our ongoing transformation is resulting in a more predictable business model, reflecting the strength of our strategy and our commitment to long-term value creation. We are beginning to see signs of stabilization across our end markets, and we remain well-positioned to benefit from a market recovery,” said Hassane El-Khoury, president and CEO, onsemi. “As we execute near-term priorities, we are positioning the company for long-term growth through investments in next-generation technologies to accelerate our market leadership.”
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