X-Fab's revenue declines, but silicon carbide business is expected to recover in the fourth quarter

X-Fab's revenue in the second quarter of 2024 was $205.1 million, down 9% year-on-year. Its main revenue came from the automotive, industrial and medical businesses, totaling $190.1 million, down 4% year-on-year. X-Fab expects its silicon carbide business to begin to recover in the fourth quarter and resume strong growth in 2025.