SILC SILICOM LTD.
Price Chart
Executive Summary
Silicom Ltd. filed its annual 20-F for FY2025, reporting a net loss of $11.5M, an improvement from the $13.7M loss in FY2024. Revenue grew 6.6% YoY to $61.9M, driven by core business demand and initial design win ramp-ups, but the company remains unprofitable with negative operating cash flow of -$2.2M. The filing is largely routine with no material new disclosures beyond the financial results already known from prior 6-K filings.
Actionable Insight
The 20-F confirms a gradual recovery trajectory with improving gross margins and narrowing losses, but negative operating cash flow and rising inventory ($52.7M) signal ongoing working capital strain. Monitor the next quarterly 6-K for evidence of sustained design win conversion into cash flow positive operations, particularly given the recent FPGA Smart NIC design win with a European secure communications provider.
Key Facts
- FY2025 revenue of $61.9M, up 6.6% from $58.1M in FY2024
- FY2025 net loss of $11.5M, improved from $13.7M loss in FY2024
- Gross margin improved to 30.6% from 28.6% in FY2024
- Operating loss of $12.3M vs $13.3M in FY2024
- Cash used in operations of $2.2M vs cash provided of $18.3M in FY2024
- Cash and equivalents decreased to $35.2M from $51.3M at year-end 2024
- Inventories increased to $52.7M from $41.1M at year-end 2024
- Top 3 customers accounted for 28% of FY2025 revenue
- No material litigation, no changes in internal controls, no restatements
Financial Impact
Revenue $61.9M, net loss $11.5M, operating cash flow -$2.2M, cash $35.2M
Risk Factors
- Negative operating cash flow and rising inventory levels may pressure liquidity
- Continued net losses and reliance on design win ramp-ups for growth
- Geopolitical risks from Israel conflicts and potential US tariff impacts
- Customer concentration with top 3 customers at 28% of revenue
Market Snapshot
Documents Analyzed
This report is based on 12 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 20-F Filing (Primary) | 0001178913-26-002258 |
| Exhibit: exhibit_4-12.htm | 0001178913-26-002258 |
| Exhibit: exhibit_12-2.htm | 0001178913-26-002258 |
| Exhibit: exhibit_12-1.htm | 0001178913-26-002258 |
| Exhibit: exhibit_4-8.htm | 0001178913-26-002258 |
| Exhibit: exhibit_13-1.htm | 0001178913-26-002258 |
| Exhibit: exhibit_13-2.htm | 0001178913-26-002258 |
| Exhibit: exhibit_8-1.htm | 0001178913-26-002258 |
| Exhibit: exhibit_15-1.htm | 0001178913-26-002258 |
| Document: 0001178913-26-002258-index-headers.html | 0001178913-26-002258 |
| Document: 0001178913-26-002258-index.html | 0001178913-26-002258 |
| Document: 0001178913-26-002258.txt | 0001178913-26-002258 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
May 26, 2026
14d ago
|
6-K
| $47.53 $44.71 | ▼ −5.93% | ▼ −7.15% | $43.32 (−8.86%) |
|
May 18, 2026
22d ago
|
Insider Cluster
| $42.87 $47.53 | ▼ −10.87% | ▼ −9.25% | $43.32 (−1.05%) |
|
May 7, 2026
4w ago
|
Insider Cluster
| $44.25 $50.98 | ▼ −15.21% | ▼ −12.91% | $43.32 (+2.10%) |
|
May 7, 2026
4w ago
|
Insider Cluster
| $44.25 $46.93 | ▼ −6.06% | ▼ −4.55% | $43.32 (+2.10%) |
|
May 5, 2026
5w ago
|
6-K
| $46.28 $43.18 | ▼ −6.70% | ▼ −8.68% | $43.32 (−6.40%) |
|
May 5, 2026
5w ago
|
6-K
| $46.28 $43.18 | ▼ −6.70% | ▼ −8.68% | $43.32 (−6.40%) |
|
Apr 28, 2026
6w ago
|
20-F
| $27.54 $46.28 | ▲ +68.05% | ▲ +66.35% | $43.32 (+57.30%) |
|
Apr 15, 2026
7w ago
|
6-K
| $23.73 $30.69 | ▲ +29.33% | ▲ +27.69% | $43.32 (+82.55%) |
|
Mar 31, 2026
10w ago
|
6-K
| $21.10 $21.97 | ▲ +4.12% | ▲ +0.18% | $43.32 (+105.31%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access