Alpha and Omega Semiconductor Limited (AOSL) reported fiscal Q3 2024 revenue of $150.1 million, up 13.2% year over year but down 9.2% quarter over quarter, with non-GAAP gross margin at 25.2% and non-GAAP EPS of -$0.04. GAAP results show an operating loss of $10.5 million and a net loss of $11.2 million, reflecting seasonality and ongoing end-market inventory corrections. Management framed the quarter as in line with guidance, citing that inventory corrections across most end-markets are nearing completion and that a rebound in key segments (gaming, tablets, graphics cards, and AI) is imminent in the June quarter. The company reiterated a strategic transition from a component supplier to a comprehensive solutions provider, unlocking higher BOM content and expanding into adjacent markets such as AI accelerators and data-center compute. The June quarter guidance implies a modest recovery to approximately $160 million in revenue with non-GAAP gross margins around 26.3% and improving operating leverage, underscoring a constructive, albeit cautious, near-term trajectory.