5N Plus Inc. Reports Q1 2024 Financial Results

Report Highlights:

• Revenue in Q1 2024 increased by 18% to USD 65.0 million, compared to USD 55.3 million in Q1 2023, primarily driven by strong growth from terrestrial renewable energy and space solar power sectors under Specialty Semiconductors.
• 5N+ announced that it was awarded a grant from the U.S. Department of Defense for USD 14.4 million, to support the Company’s production facility in St. George, Utah, which manufactures germanium substrates used in solar cells for defense and commercial satellites.
• Growing demand continues to strengthen the unique position of 5N+ as the leading global supplier of ultra-high purity semiconductor compounds outside China with key customer partnerships in high-growth sectors, including sensing and medical imaging.