公告日期：2026-03-21

ANNUAL REPORT

CONTENTS ESPRESSIF SYSTEM 2025 ANNUAL REPORT
Contents

Message from the CEO 03 Management Report （Continued） 11
Developer Community Content 19
Research and Development 21
About Espressif 05 Ownership of Securities 23
Facts About Espressif 05

Stock-Based Compensation 24
Build Smart with ESP32 06

Risks and Uncertainties 25
Core Competitiveness 07 Consolidated Financial Statements 26
Consolidated Balance Sheet 26
Consolidated Income Statement 28
Business Highlights 08

Consolidated Cash Flow Statement 29
Key Financial Data 08 Consolidated Statement of Changes in Equity 31
Key Financial Indicators 08

Financial Analysis 09

Further Information 32
Management Report 11 Terms and Conditions of the Report 32
Independent Auditor’s Report 33
Business Strategy 11

List of abbreviations 37
Key Products - IoT Chips 12

Key Products - Chip Matrix 13

Key Products - M……
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