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Atlantis Semiconductor Ltd
CompletedHigh
FY2024
Receivable days lengthen after the distributor change
Days sales outstanding lengthened by fifteen days in the year the group changed distributor, and the balance grew faster than revenue. The filing states the cause; the reading is that cash is following the reported sale more slowly.
“Trade receivables stood at 1,102 million at the year end and days sales outstanding lengthened to 96 days from 81 days after the change of distributor in the third quarter.”
Indicators: Days Sales Outstanding
Document reviewRevenue recognition policyconfidence high
High
FY2023, FY2024
Contract costs moved between operating and investing, comparatives re-presented
Contract acquisition costs were reclassified from operating to investing cash flows and the prior year was re-presented. Reported operating cash improves by the amount moved, with no change to the result or to equity.
“The comparative figures for 2023 have been restated to reclassify contract acquisition costs from operating to investing cash flows.”
Line items: Operating Cash FlowNet Cash from Investing
Restatement comparisonCash flow classificationconfidence moderate
Medium
FY2023, FY2024, FY2025
Provision rate on receivables sits at the peer floor in every computed year
The allowance held against receivables is lower, relative to the balance, than nearly every company in the population in each year it could be computed.
Indicators: Provision for Bad Debt Relative to Trade Receivables
Reads Provision for Bad Debt Relative to Trade ReceivablesIndicator analysisProvision or reserve judgementconfidence moderate
Medium
FY2024
Segment result excludes a restructuring charge the group result carries
The measure reported to management is stated before a restructuring charge of 88 million, so the segment table shows a result the group statement does not.
“Segment result excludes a restructuring charge of 88 million that the group result carries”
Line items: Operating Income
Document reviewCompany-defined measureconfidence moderate
Low
FY2024, FY2025
Gross margin slips for a second year while inventory grows
Gross margin fell by about a point for the second year running, in the same years the inventory balance grew ahead of sales.
“Gross profit of 1,081 million was 25.8 per cent of revenue, against 26.9 per cent in 2024.”
Indicators: Days Inventory Outstanding
Indicator analysisMargin qualityconfidence moderate
Low
FY2023, FY2024
No other prior-period figure was restated in the series
Beside the reclassification of contract costs, the filings restate nothing else in the years read.
“No other prior-period figure in the series has been restated”
Line items: Restatement Flag
Restatement comparisonCash flow classificationconfidence low
Showing 6 of 12 · a finding rests on figures this study published, a quoted passage, or bothTypologies: Provision or reserve judgement · Cash flow classification · Cash quality · Company-defined measure · Cost capitalisation policy · Governance · Margin quality · Revenue recognition policy