SanDisk said net revenue for the quarter ended December 27, 2024 increased 13% from the comparable period in the prior year. The company cited a 14% increase in average selling price per gigabyte, partially offset by a 2% decrease in exabytes sold.

1. 01

   SanDisk said net revenue for the quarter ended December 27, 2024 increased 13% from the comparable period in the prior year. The company cited a 14% increase in average selling price per gigabyte, partially offset by a 2% decrease in exabytes sold.

2. 02

   SanDisk said Cloud revenue for the same quarter increased 525% from the comparable period in the prior year, citing a 305% increase in exabytes sold and a 57% increase in average selling price per gigabyte. Client revenue increased 6% and Consumer revenue decreased 9%, the company said.

3. 03

   SanDisk said WDC completed the spin-off on February 21, 2025, distributing 80.1% of the company's outstanding shares to WDC stockholders, and the company began trading on Nasdaq under the symbol 'SNDK' on February 24. The company added it is experiencing what it believes is a mid-cycle slowdown and expects to incur charges for unabsorbed manufacturing overhead costs in the remainder of fiscal 2025 as it moderates production levels to align with demand.

4. 04

   SanDisk said it entered into a loan agreement on February 21, 2025 comprised of a 7-year Term Loan B facility in an aggregate principal amount of $2.0 billion and a 5-year revolving credit facility in an aggregate principal amount of $1.5 billion. The company borrowed $2 billion under the Term Loan Facility and used a portion of the proceeds to pay a dividend to WDC of approximately $1.5 billion. SanDisk also said it is more likely than not that it will record an impairment charge in the quarter ended March 28, 2025.

Key figures

Quarter ended December 27, 2024

Revenue

$1.9B

Operating income

$195M

Net income

$104M

Gross profit

$606M

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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