TREE NEWS update: VeriSilicon Holdings said its order backlog reached 18.569 billion yuan as of the end of September 2026, up 265.90% from the end of last year and 49.16% from the end of the second quarter, marking 12 consecutive quarters at a high level. The company expects adjusted EBITDA to turn positive in the second half of 2026 and full-year adjusted net profit attributable to shareholders to turn positive in 2027.
VeriSilicon Sees 2027 Adjusted Net Profit Turning Positive
The scale of the backlog jump matters more than the profit timeline itself: a 265.90% year-to-date increase alongside a further 49.16% gain in a single quarter suggests demand is accelerating rather than merely accumulating, and twelve straight quarters at a high level points to durability. The 2027 adjusted net profit target is the real test of whether that order book converts into margin rather than revenue at low returns. Watch the gap between adjusted EBITDA turning positive in the second half of 2026 and the later net profit milestone — that spread is where cost structure and non-operating items will show up.
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