ON Semiconductor reported first-quarter 2025 revenue of $1.4457 billion, a 22.4% decrease compared to $1.8627 billion in the same period of 2024, but slightly above analyst expectations. The company posted a net loss of $486.1 million, reversing from a net income of $453.0 million in Q1 2024, with a diluted loss per share of $1.15 compared to a profit of $1.04 per share previously. Gross margin stood at 20.3%, while operating margin was negative 39.7%. Cash from operations reached $602 million, and free cash flow increased 72% year-over-year to $455 million, representing 31% of revenue. ON Semiconductor returned 66% of its first-quarter free cash flow ($300 million) to shareholders through share repurchases and plans to allocate 100% of free cash flow to buybacks for the rest of 2025. The company completed the acquisition of Qorvo's Silicon Carbide JFET technology portfolio for $115 million and withdrew its proposal to acquire Allegro MicroSystems. As part of a strategic restructuring, ON Semiconductor announced plans to lay off approximately 2,400 employees worldwide in 2025. For the second quarter of 2025, the company expects revenue between $1.4 billion and $1.5 billion, anticipating mid to high single-digit sequential growth in industrial and other segments, while automotive is expected to decline by high single digits. Meanwhile, Unity Technologies reported Q1 2025 revenue of $435 million, down 6% year-over-year from $460 million, primarily due to lower income from Create and Grow Solutions. Despite the revenue decline, Unity exceeded expectations with adjusted earnings per share of $0.24, beating the high end of guidance for revenue by 5% and adjusted EBITDA by 29%. The company reported a GAAP net loss of $78 million, or $0.19 per share, but achieved positive free cash flow. Unity also completed the migration of its ad network to the new AI platform, Unity Vector, ahead of schedule. Additionally, Open Lending reported Q1 revenue down 2% year-over-year to $1.2 billion, with gross profit of $99 million and a gross margin of 8.6%. Taiwan reported Q1 revenue at 15.1% of its annual target, down NT$9.6 billion from 2024.