Asetek Liquid Cooling Systems Reports 47% Decrease in Q4 2022 Revenue

Published by

teaser

Asetek manufacturer and patent holder for all-in-one (AIO) liquid cooling systems, has recently announced its Q4 2022 financial results, revealing a significant decline in revenue. 



The company generated $9.5 million in revenue during the fourth quarter, marking a 47% decrease compared to the same period in 2021 when it generated $18.1 million. However, the annual balance sheet shows an operating loss of $5.4 million, mainly due to the investments made in property and equipment amounting to $22.2 million, including a new headquarters and product development costs.

Despite these losses, Asetek remains optimistic, noting that the business climate is stabilizing, and it is seeing increased activity from its liquid cooling system customers. The company has a strong pipeline of new product launches planned for 2023 and is well-positioned to capture long-term growth potential. While the revenue growth in 2023 is expected to return to near normal, between 5% and 15% compared to 2022, there remains a possibility of further supply chain disruptions and geopolitical tensions. Asetek CEO, André Sloth Eriksen, expressed confidence that the company is well-prepared to face these challenges and continue its growth trajectory.


Share this content
Twitter Facebook Reddit WhatsApp Email Print