Taiwan-based MicroLED developer PlayNitride announced its financial results for Q1 2025, with revenues of 299 million TWD (about $9.8 million USD), up 4%5 from Q1 2024 (205 million TWD). The net loss was about $1.7 million, down from $2.8 million last year.
At the end of the quarter, PlayNitride reported it had about $106 million USD in cash and equivalents. A couple of months ago PlayNitride secured 800 million NTD ($24.3 million USD) in a convertible bond private placement (the company also raised 800 million NTD in a bonds issue towards the end of 2024).
PlayNitride is building a complete supply chain for microLED production, from epiwafer production through chip processing, transfer process and more. In 2023 AUO announced a $21.5 million agreement with PlayNitride to build a 6-inch microLED production line at AUO's Longtan factory. Earlier in 2023, PlayNitride said that it is increasing its production volume to 10,000 6" wafers per month.
PlayNitride is developing a wide range of displays: tiled large-area displays (PixeLED Matrix), wearable panels, microdisplays, transparent displays, and more. In 2022, PlayNitride started to sample microLED panels for over 5 potential automotive customers.
