Neutral
PRNewsWire
25 days ago
Daqo New Energy Announces Unaudited Second Quarter 2026 Financial Results
SHANGHAI, Aug. 20, 2026 /PRNewswire/ -- Daqo New Energy Corp. (NYSE: DQ) ("Daqo New Energy" the "Company" or "we"), a leading manufacturer of high-purity polysilicon for the global solar PV industry, today announced its unaudited financial results for the second quarter ended June 30, 2026. Second Quarter 2026 Financial and Operating Highlights Aggregate of cash, short-term investments, bank notes receivable, held-to-maturity investments and fixed term bank deposit balance was $1.92 billion at the end of Q2 2026, compared to $2.00 billion at the end of Q1 2026 Polysilicon production volume was 43,675 MT in Q2 2026, compared to 43,402 MT in Q1 2026 Polysilicon sales volume was 15,190 MT in Q2 2026, compared to 4,482 MT in Q1 2026 Polysilicon average total production cost(1) was $5.95/kg in Q2 2026, compared to $5.95/kg in Q1 2026 Polysilicon average cash cost(1) was $4.57/kg in Q2 2026, compared to $4.59/kg in Q1 2026 Polysilicon average selling price (ASP) was $4.04/kg in Q2 2026, compared to $5.96/kg in Q1 2026 Revenue was $62.7 million in Q2 2026, compared to $26.7 million in Q1 2026 Gross loss was $82.7 million in Q2 2026, compared to $139.4 million in Q1 2026; gross margin was negative 132.0% in Q2 2026, compared to negative 521.5% in Q1 2026 Net loss attributable to Daqo New Energy Corp. shareholders was $81.2 million in Q2 2026, compared to $88.4 million in Q1 2026; loss per basic American Depositary Share (ADS)(3) was $1.20 in Q2 2026, compared to $1.31 in Q1 2026 Adjusted net loss (non-GAAP)(2) attributable to Daqo New Energy Corp. shareholders was $81.2 million in Q2 2026, compared to $88.4 million in Q1 Adjusted loss per basic ADS(3) (non-GAAP)(2) was $1.20 in Q2 2026, compared to adjusted loss per basic ADS(3) (non-GAAP)(2) of $1.31 in Q1 2026; EBITDA (non-GAAP)(2) was negative $29.3 million in Q2 2026, compared to negative $83.1 million in Q1 2026; EBITDA margin (non-GAAP)(2) was negative 46.8% in Q2 2026, compared to negative 311.1% in Q1 2026 Three months ended US$ millions except as indicated otherwise Jun. 30, 2026 Mar. 31, 2026 Jun. 30, 2025 Revenues 62.7 26.7 75.2 Gross loss (82.7) (139.4) (81.4) Gross margin (132.0) % (521.5) % (108.3) % Loss from operations (98.1) (150.8) (115.0) Net loss attributable to Daqo New Energy Corp. shareholders (81.2) (88.4) (76.5) Loss per basic ADS(3) ($ per ADS) (1.20) (1.31) (1.14) Adjusted net loss (non-GAAP)(2) attributable to Daqo New Energy Corp. shareholders (81.2) (88.4) (57.9) Adjusted loss per basic ADS(3) (non-GAAP)(2) ($ per ADS) (1.20) (1.31) (0.86) EBITDA (non-GAAP)(2) (29.3) (83.1) (48.2) EBITDA margin (non-GAAP)(2) (46.8) % (311.1) % (64.0) % Polysilicon sales volume (MT) 15,190 4,482 18,126 Polysilicon average total production cost ($/kg)(1) 5.95 5.95 7.26 Polysilicon average cash cost (excl.
