MACOM Reports Fiscal Second Quarter 2025 Financial Results
MACOM Technology Solutions (NASDAQ: MTSI) reported strong financial results for Q2 FY2025. Revenue reached $235.9 million, up 30.2% year-over-year and 8.1% sequentially. GAAP gross margin improved to 55.2%, while net income was $31.7 million ($0.42 per diluted share).
On an adjusted non-GAAP basis, the company achieved a gross margin of 57.5% and adjusted net income of $64.3 million ($0.85 per diluted share). For Q3 FY2025, MACOM projects revenue between $246-254 million with adjusted earnings per share of $0.87-0.91.
MACOM Technology Solutions (NASDAQ: MTSI) ha riportato risultati finanziari solidi per il secondo trimestre dell'anno fiscale 2025. I ricavi hanno raggiunto 235,9 milioni di dollari, con un incremento del 30,2% su base annua e dell'8,1% rispetto al trimestre precedente. Il margine lordo GAAP è migliorato al 55,2%, mentre l'utile netto è stato di 31,7 milioni di dollari (0,42 dollari per azione diluita).
Su base non-GAAP rettificata, l'azienda ha ottenuto un margine lordo del 57,5% e un utile netto rettificato di 64,3 milioni di dollari (0,85 dollari per azione diluita). Per il terzo trimestre dell'anno fiscale 2025, MACOM prevede ricavi compresi tra 246 e 254 milioni di dollari con utili rettificati per azione tra 0,87 e 0,91 dollari.
MACOM Technology Solutions (NASDAQ: MTSI) reportó sólidos resultados financieros para el segundo trimestre del año fiscal 2025. Los ingresos alcanzaron los 235,9 millones de dólares, un aumento del 30,2% interanual y del 8,1% secuencialmente. El margen bruto GAAP mejoró al 55,2%, mientras que el ingreso neto fue de 31,7 millones de dólares (0,42 dólares por acción diluida).
En base ajustada no GAAP, la compañía logró un margen bruto del 57,5% y un ingreso neto ajustado de 64,3 millones de dólares (0,85 dólares por acción diluida). Para el tercer trimestre del año fiscal 2025, MACOM proyecta ingresos entre 246 y 254 millones de dólares con ganancias ajustadas por acción de 0,87 a 0,91 dólares.
MACOM Technology Solutions (NASDAQ: MTSI)는 2025 회계연도 2분기 강력한 재무 실적을 보고했습니다. 매출은 2억 3,590만 달러로 전년 동기 대비 30.2%, 전분기 대비 8.1% 증가했습니다. GAAP 기준 총이익률은 55.2%로 개선되었으며, 순이익은 3,170만 달러 (희석 주당 0.42달러)였습니다.
비 GAAP 조정 기준으로 회사는 57.5%의 총이익률과 6,430만 달러 (희석 주당 0.85달러)의 조정 순이익을 달성했습니다. 2025 회계연도 3분기에는 매출을 2억 4,600만~2억 5,400만 달러로, 조정 주당순이익을 0.87~0.91달러로 예상하고 있습니다.
MACOM Technology Solutions (NASDAQ : MTSI) a annoncé de solides résultats financiers pour le deuxième trimestre de l'exercice 2025. Le chiffre d'affaires a atteint 235,9 millions de dollars, en hausse de 30,2 % sur un an et de 8,1 % par rapport au trimestre précédent. La marge brute selon les normes GAAP s'est améliorée à 55,2%, tandis que le bénéfice net s'est élevé à 31,7 millions de dollars (0,42 dollar par action diluée).
Sur une base ajustée non-GAAP, la société a réalisé une marge brute de 57,5 % et un bénéfice net ajusté de 64,3 millions de dollars (0,85 dollar par action diluée). Pour le troisième trimestre de l'exercice 2025, MACOM prévoit un chiffre d'affaires compris entre 246 et 254 millions de dollars avec un bénéfice par action ajusté de 0,87 à 0,91 dollar.
MACOM Technology Solutions (NASDAQ: MTSI) meldete starke Finanzergebnisse für das zweite Quartal des Geschäftsjahres 2025. Der Umsatz erreichte 235,9 Millionen US-Dollar, ein Anstieg von 30,2 % im Jahresvergleich und 8,1 % im Quartalsvergleich. Die GAAP-Bruttomarge verbesserte sich auf 55,2%, während der Nettogewinn 31,7 Millionen US-Dollar (0,42 US-Dollar je verwässerter Aktie) betrug.
Auf bereinigter Non-GAAP-Basis erzielte das Unternehmen eine Bruttomarge von 57,5 % und einen bereinigten Nettogewinn von 64,3 Millionen US-Dollar (0,85 US-Dollar je verwässerter Aktie). Für das dritte Quartal des Geschäftsjahres 2025 prognostiziert MACOM einen Umsatz zwischen 246 und 254 Millionen US-Dollar mit bereinigten Gewinnen je Aktie von 0,87 bis 0,91 US-Dollar.
- Revenue grew significantly by 30.2% year-over-year to $235.9 million
- GAAP gross margin improved to 55.2% from 52.5% year-over-year
- Net income doubled to $31.7 million from $15.0 million year-over-year
- Strong Q3 guidance with expected revenue growth to $246-254 million
- None.
Insights
MACOM delivered outstanding Q2 results with 30.2% YoY revenue growth, expanded margins, doubled EPS, and projects continued growth for Q3 2025.
MACOM's fiscal Q2 2025 results demonstrate exceptional financial performance across all key metrics. Revenue reached
Profitability metrics show even more compelling improvements. GAAP gross margin expanded to
Operating leverage is clearly evident in the results. GAAP operating margin nearly doubled to
The bottom-line results reflect these operational improvements. GAAP earnings per diluted share more than doubled to
Looking ahead, management's guidance suggests continued momentum. For Q3 2025, MACOM projects revenue between
The transformation of GAAP results from a
LOWELL, Mass., May 08, 2025 (GLOBE NEWSWIRE) -- MACOM Technology Solutions Holdings, Inc. (“MACOM”) (Nasdaq: MTSI), a leading supplier of semiconductor products, today announced its financial results for its fiscal second quarter ended April 4, 2025.
Second Quarter Fiscal Year 2025 GAAP Results
- Revenue was
$235.9 million , an increase of30.2% , compared to$181.2 million in the previous year fiscal second quarter and an increase of8.1% compared to$218.1 million in the prior fiscal quarter; - Gross margin was
55.2% , compared to52.5% in the previous year fiscal second quarter and53.7% in the prior fiscal quarter; - Income from operations was
$34.9 million , or14.8% of revenue, compared to income from operations of$15.4 million , or8.5% of revenue, in the previous year fiscal second quarter and income from operations of$17.5 million , or8.0% of revenue, in the prior fiscal quarter; and - Net income was
$31.7 million , or$0.42 income per diluted share, compared to net income of$15.0 million , or$0.20 per diluted share, in the previous year fiscal second quarter and net loss, which includes a one-time, primarily non-cash, charge of$193.1 million loss on extinguishment of debt related to the previously-announced refinancing of a portion of MACOM’s0.25% convertible senior notes due 2026, of$167.5 million , or$2.30 loss per diluted share, in the prior fiscal quarter.
Second Quarter Fiscal Year 2025 Adjusted Non-GAAP Results
- Adjusted gross margin was
57.5% , compared to57.1% in the previous year fiscal second quarter and57.5% in the prior fiscal quarter; - Adjusted income from operations was
$59.8 million , or25.4% of revenue, compared to adjusted income from operations of$40.2 million , or22.2% of revenue, in the previous year fiscal second quarter and adjusted income from operations of$55.4 million , or25.4% of revenue, in the prior fiscal quarter; and - Adjusted net income was
$64.3 million , or$0.85 per diluted share, compared to adjusted net income of$43.2 million , or$0.59 per diluted share, in the previous year fiscal second quarter and adjusted net income of$59.5 million , or$0.79 per diluted share, in the prior fiscal quarter.
Management Commentary
“Exceptional teamwork across the entire MACOM organization enabled our solid Q2 performance,” said Stephen G. Daly, President and Chief Executive Officer, MACOM.
Business Outlook
For the fiscal third quarter ending July 4, 2025, MACOM expects revenue to be in the range of
Conference Call
MACOM will host a conference call on Thursday, May 8, 2025, at 8:30 a.m. Eastern Time to discuss its fiscal second quarter 2025 financial results and business outlook. Investors and analysts may visit MACOM's Investor Relations website at https://ir.macom.com/events-webcasts to register for a user-specific access code for the live call or to access the live webcast. A replay of the call will be available within 24 hours and remain accessible by all interested parties for approximately 90 days.
About MACOM
MACOM designs and manufactures high-performance semiconductor products for the Industrial and Defense, Data Center and Telecommunications industries. MACOM services over 6,000 customers annually with a broad product portfolio that incorporates RF, Microwave, Analog and Mixed Signal and Optical semiconductor technologies. MACOM has achieved certification to the IATF16949 automotive standard, the AS9100D aerospace standard, the ISO9001 international quality standard and the ISO14001 environmental management standard. MACOM operates facilities across the United States, Europe, Asia and is headquartered in Lowell, Massachusetts.
Special Note Regarding Forward-Looking Statements
This press release and the associated earnings call contains forward-looking statements. These forward-looking statements include, among others, statements about MACOM’s strategic plans, priorities and long-term growth drivers, our ability to execute our long-term strategy, strengthen our position and drive market share gains and growth, our ability to develop new products, achieve market acceptance of those products and better address certain markets, expand our capabilities and extend our product offerings, including through the acquisitions of ENGIN-IC, Inc., Linearizer Communications Group and the radio frequency (RF) business of Wolfspeed, Inc., including our ability to effect the transfer of and effectively integrate the Research Triangle Park, North Carolina RF business fabrication facility, and through the establishment and growth of our European Semiconductor Center and potential collaboration and sales opportunities with private and public sector partners resulting therefrom, and the teams’ capabilities and technologies and expansion thereof and any potential financial benefits derived by and financial impact to MACOM therefrom, strength and competitiveness of new product introductions and technology portfolio expansion, including the anticipated rate of new product introductions, anticipated demand for our products, MACOM’s profitability, revenue targets, prospects and growth opportunities in our three primary markets, the potential impact to our business of an economic downturn or recession, anticipated financial and business performance improvements, MACOM’s strategic investment plan, including negotiation and finalization of a definitive agreement with, and receipt of, funding from the Federal and State governments, the estimated financial results for our 2025 fiscal third quarter and the stated business outlook and future results of operations.
These forward-looking statements reflect MACOM’s current views about future events and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause those events or our actual activities or results to differ materially from those indicated by the forward-looking statements, including our ability to develop new products and achieve market acceptance of those products; component shortages or other disruptions in our supply chain, including as a result of geopolitical unrest or otherwise; inflationary pressures; any failure to accurately anticipate demand for our products and effectively manage our inventory; our dependence on a limited number of customers; risks related to any weakening of global economic conditions, including as a result of the evolving impacts from tariffs, sanctions or other trade tensions (including implementation of new tariffs or retaliatory trade measures); our ability to compete effectively; and those other factors described in “Risk Factors” in MACOM’s filings with the Securities and Exchange Commission (“SEC”), including its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and other filings with the SEC. These forward-looking statements speak only as of the date of this press release, and MACOM undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Discussion Regarding the Use of Historical and Forward-Looking Non-GAAP Financial Measures
In addition to United States Generally Accepted Accounting Principles (“GAAP”) reporting, MACOM provides investors with financial measures that have not been calculated in accordance with GAAP, such as: non-GAAP gross profit and gross margin, non-GAAP operating expenses, non-GAAP income from operations and operating margin, non-GAAP EBITDA, non-GAAP net income, non-GAAP diluted earnings per share, non-GAAP income tax rate and non-GAAP interest income. In this release or elsewhere, we may alternatively refer to such non-GAAP measures as “adjusted” measures. This non-GAAP information excludes the effect, where applicable, of intangible amortization expense, share-based compensation expense, non-cash interest, net, acquisition and integration related costs, loss on debt extinguishment and the tax effect of each non-GAAP adjustment.
Management believes these excluded items are not reflective of our underlying performance and uses these non-GAAP financial measures to: evaluate our ongoing operating performance and compare it against prior periods, make operating decisions, forecast future periods, evaluate potential acquisitions, compare our operating performance against peer companies and assess certain compensation programs. We believe this non-GAAP financial information provides additional insight into our ongoing performance and have therefore chosen to provide this information to investors to help them evaluate the results of our ongoing operations and enable more meaningful period-to-period comparisons. These non-GAAP measures are provided in addition to, and not as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP.
A reconciliation between GAAP and non-GAAP financial data is included in the supplemental financial data attached to this press release. We have not provided a reconciliation with respect to any forward-looking non-GAAP financial data presented because we do not have and cannot reliably estimate certain key inputs required to calculate the most comparable GAAP financial data, such as future acquisition costs, the possibility and impact of any litigation costs, changes in our GAAP effective tax rate and impairment charges. We believe these unknown inputs are likely to have a significant impact on any estimate of the comparable GAAP financial data.
Investors are cautioned against placing undue reliance on non-GAAP financial measures and are urged to review and consider carefully the adjustments made by management to the most directly comparable GAAP financial measures. Non-GAAP financial measures may have limited value as analytical tools because they may exclude certain expenses that some investors consider important in evaluating our operating performance or ongoing business performance. Further, non-GAAP financial measures may have limited value for purposes of drawing comparisons between companies because different companies may calculate similarly titled non-GAAP financial measures in different ways because non-GAAP measures are not based on any comprehensive set of accounting rules or principles.
Additional information and management’s assessment regarding why certain items are excluded from our non-GAAP measures are summarized below:
Amortization Expense – is related to acquired intangible assets which are based upon valuation methodologies and are generally amortized over the expected life of the intangible asset at the time of acquisition, which may result in amortization amounts that vary over time. This non-cash expense is not considered by management in making operating decisions.
Share-Based Compensation Expense – includes share-based compensation expense for awards that are equity and liability classified on our balance sheet and the related employer tax expense at vesting. Share-based compensation expense is partially outside of our control due to factors such as stock price volatility and interest rates, which may be unrelated to our operating performance during the period in which the expense is incurred. It is an expense based upon valuation methodologies and assumptions that vary over time, and the amount of the expense can vary significantly between companies. Share-based compensation expense amounts are not considered by management in making operating decisions.
Non-cash Interest, Net – includes amounts associated with the amortization of certain fees associated with the establishment or amendment of our convertible notes that are being amortized over the life of the agreements. We believe these amounts are non-cash in nature, are not correlated to future business operations and do not reflect our ongoing operations.
Acquisition and Integration Related Costs – includes items such as professional fees, employee severance and other costs incurred in connection with acquisitions and integration specific activities which are not expected to have a continuing contribution to operations and the amortization of the fair market step-up value of acquired inventory and fixed assets. We believe the exclusion of these items is useful in providing management a basis to evaluate ongoing operating activities and strategic decision making.
Loss on Debt Extinguishment – includes the loss on exchange of our convertible notes. This loss is primarily non-cash and we do not believe this amount is reflective of our ongoing operations.
Tax Effect of Non-GAAP Adjustments – includes adjustments to arrive at an estimate of our non-GAAP income tax rate associated with our non-GAAP income over a period of time. We determine our non-GAAP income tax rate using applicable rates in taxing jurisdictions and assessing certain factors including our historical and forecast earnings by jurisdiction, discrete items, cash taxes paid in relation to our non-GAAP net income before income taxes and our ability to realize tax assets. We generally assess this non-GAAP income tax rate quarterly and have utilized
Adjusted EBITDA – is a calculation that adds depreciation expense to our adjusted income from operations. Management reviews and utilizes this measure for operational analysis purposes. We believe competitors and others in the financial industry also utilize this measure for analysis purposes.
Incremental Shares – is the number of potential shares of common stock issuable upon the exercise of stock options, restricted stock, restricted stock units and conversion of convertible debt which were not included in the calculation of our GAAP diluted shares. We believe competitors and others in the financial industry utilize this non-GAAP measure for analysis purposes.
Company Contact:
MACOM Technology Solutions Holdings, Inc.
Stephen Ferranti
Vice President, Corporate Development and Investor Relations
P: 978-656-2977
E: stephen.ferranti@macom.com
| MACOM TECHNOLOGY SOLUTIONS HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited and in thousands, except per share data) | ||||
| Three Months Ended | Six Months Ended | ||||||||||||||||||
| April 4, 2025 | January 3, 2025 | March 29, 2024 | April 4, 2025 | March 29, 2024 | |||||||||||||||
| Revenue | $ | 235,887 | $ | 218,122 | $ | 181,234 | $ | 454,009 | $ | 338,382 | |||||||||
| Cost of revenue | 105,731 | 101,013 | 86,022 | 206,744 | 155,860 | ||||||||||||||
| Gross profit | 130,156 | 117,109 | 95,212 | 247,265 | 182,522 | ||||||||||||||
| Operating expenses: | |||||||||||||||||||
| Research and development | 57,837 | 60,369 | 45,621 | 118,206 | 85,034 | ||||||||||||||
| Selling, general and administrative | 37,449 | 39,213 | 34,184 | 76,662 | 71,071 | ||||||||||||||
| Total operating expenses | 95,286 | 99,582 | 79,805 | 194,868 | 156,105 | ||||||||||||||
| Income from operations | 34,870 | 17,527 | 15,407 | 52,397 | 26,417 | ||||||||||||||
| Other income (expense): | |||||||||||||||||||
| Interest income | 7,239 | 7,000 | 5,366 | 14,239 | 10,921 | ||||||||||||||
| Interest expense | (1,179 | ) | (1,366 | ) | (1,285 | ) | (2,545 | ) | (2,574 | ) | |||||||||
| Loss on extinguishment of debt | — | (193,098 | ) | — | (193,098 | ) | — | ||||||||||||
| Total other income (expense) | 6,060 | (187,464 | ) | 4,081 | (181,404 | ) | 8,347 | ||||||||||||
| Income (loss) before income taxes | 40,930 | (169,937 | ) | 19,488 | (129,007 | ) | 34,764 | ||||||||||||
| Income tax expense (benefit) | 9,264 | (2,407 | ) | 4,508 | 6,857 | 7,258 | |||||||||||||
| Net income (loss) | $ | 31,666 | $ | (167,530 | ) | $ | 14,980 | $ | (135,864 | ) | $ | 27,506 | |||||||
| Net income (loss) per share: | |||||||||||||||||||
| Income (loss) per share - Basic | $ | 0.43 | $ | (2.30 | ) | $ | 0.21 | $ | (1.85 | ) | $ | 0.38 | |||||||
| Income (loss) per share - Diluted | $ | 0.42 | $ | (2.30 | ) | $ | 0.20 | $ | (1.85 | ) | $ | 0.38 | |||||||
| Weighted average common shares: | |||||||||||||||||||
| Shares - Basic | 74,358 | 72,780 | 72,076 | 73,540 | 71,750 | ||||||||||||||
| Shares - Diluted | 75,741 | 72,780 | 73,272 | 73,540 | 72,779 | ||||||||||||||
| MACOM TECHNOLOGY SOLUTIONS HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited and in thousands) | ||||
| April 4, 2025 | September 27, 2024 | ||||
| ASSETS | |||||
| Current assets: | |||||
| Cash and cash equivalents | $ | 110,926 | $ | 146,806 | |
| Short-term investments | 570,607 | 435,082 | |||
| Accounts receivable, net | 131,389 | 105,700 | |||
| Inventories | 209,332 | 194,490 | |||
| Prepaid and other current assets | 42,016 | 21,000 | |||
| Total current assets | 1,064,270 | 903,078 | |||
| Property and equipment, net | 178,501 | 176,017 | |||
| Goodwill and intangible assets, net | 418,415 | 408,289 | |||
| Deferred income taxes | 213,389 | 212,495 | |||
| Other long-term assets | 44,282 | 55,761 | |||
| Total assets | $ | 1,918,857 | $ | 1,755,640 | |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||
| Current liabilities: | |||||
| Short-term debt | 160,741 | — | |||
| Accounts payable | 61,265 | 43,202 | |||
| Accrued liabilities | 76,080 | 64,336 | |||
| Current portion of finance lease obligations | 730 | 646 | |||
| Total current liabilities | 298,816 | 108,184 | |||
| Finance lease obligations, less current portion | 30,829 | 31,130 | |||
| Financing obligation | 8,830 | 9,006 | |||
| Long-term debt obligations | 339,073 | 448,281 | |||
| Other long-term liabilities | 38,977 | 32,696 | |||
| Total liabilities | 716,525 | 629,297 | |||
| Stockholders’ equity | 1,202,332 | 1,126,343 | |||
| Total liabilities and stockholders’ equity | $ | 1,918,857 | $ | 1,755,640 | |
| MACOM TECHNOLOGY SOLUTIONS HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited and in thousands) | ||||
| Six Months Ended | |||||||
| April 4, 2025 | March 29, 2024 | ||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||
| Net (loss) income | $ | (135,864 | ) | $ | 27,506 | ||
| Depreciation and intangible asset amortization | 30,800 | 31,486 | |||||
| Share-based compensation | 44,287 | 20,747 | |||||
| Deferred income taxes | (2,747 | ) | 3,706 | ||||
| Loss on extinguishment of debt | 193,098 | — | |||||
| Other adjustments, net | (2,351 | ) | (1,497 | ) | |||
| Accounts receivable | (24,724 | ) | (31,327 | ) | |||
| Inventories | (14,961 | ) | (12,325 | ) | |||
| Accrued and other liabilities | 1,647 | (2,301 | ) | ||||
| Change in other operating assets and liabilities | 16,161 | 15,307 | |||||
| Net cash provided by operating activities | 105,346 | 51,302 | |||||
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||
| Acquisition of business, net | (12,684 | ) | (74,813 | ) | |||
| Sales, purchases and maturities of investments | (132,976 | ) | (15,478 | ) | |||
| Purchases of property and equipment | (13,498 | ) | (9,782 | ) | |||
| Other investing | (7,975 | ) | — | ||||
| Net cash used in investing activities | (167,133 | ) | (100,073 | ) | |||
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||
| Proceeds from convertible notes | 86,629 | — | |||||
| Payments for fee on convertible note exchange and debt issuance costs | (23,126 | ) | — | ||||
| Payments on finance leases and other | (498 | ) | (703 | ) | |||
| Proceeds from stock option exercises and employee stock purchases | 4,537 | 2,849 | |||||
| Common stock withheld for taxes on employee equity awards | (41,260 | ) | (12,522 | ) | |||
| Net cash provided by (used in) financing activities | 26,282 | (10,376 | ) | ||||
| Foreign currency effect on cash | (375 | ) | 185 | ||||
| NET CHANGE IN CASH AND CASH EQUIVALENTS | (35,880 | ) | (58,962 | ) | |||
| CASH AND CASH EQUIVALENTS — Beginning of period | 146,806 | 173,952 | |||||
| CASH AND CASH EQUIVALENTS — End of period | $ | 110,926 | $ | 114,990 | |||
| MACOM TECHNOLOGY SOLUTIONS HOLDINGS, INC. RECONCILIATIONS OF GAAP TO NON-GAAP RESULTS (unaudited and in thousands, except per share data) | ||||
| Three Months Ended | Six Months Ended | ||||||||||||||
| April 4, 2025 | January 3, 2025 | March 29, 2024 | April 4, 2025 | March 29, 2024 | |||||||||||
| Amount | % Revenue | Amount | % Revenue | Amount | % Revenue | Amount | % Revenue | Amount | % Revenue | ||||||
| Gross profit - GAAP | $ | 130,156 | 55.2 | $ | 117,109 | 53.7 | $ | 95,212 | 52.5 | $ | 247,265 | 54.5 | $ | 182,522 | 53.9 |
| Amortization expense | 3,343 | 1.4 | 3,332 | 1.5 | 4,200 | 2.3 | 6,675 | 1.5 | 6,142 | 1.8 | |||||
| Share-based compensation expense | 1,765 | 0.7 | 3,498 | 1.6 | 1,820 | 1.0 | 5,263 | 1.2 | 3,370 | 1.0 | |||||
| Acquisition and integration related costs | 356 | 0.2 | 1,394 | 0.6 | 2,226 | 1.2 | 1,750 | 0.4 | 4,516 | 1.3 | |||||
| Adjusted gross profit (Non-GAAP) | $ | 135,620 | 57.5 | $ | 125,333 | 57.5 | $ | 103,458 | 57.1 | $ | 260,953 | 57.5 | $ | 196,550 | 58.1 |
| Three Months Ended | Six Months Ended | ||||||||||||||||||||||||
| April 4, 2025 | January 3, 2025 | March 29, 2024 | April 4, 2025 | March 29, 2024 | |||||||||||||||||||||
| Amount | % Revenue | Amount | % Revenue | Amount | % Revenue | Amount | % Revenue | Amount | % Revenue | ||||||||||||||||
| Operating expenses - GAAP | $ | 95,286 | 40.4 | $ | 99,582 | 45.7 | $ | 79,805 | 44.0 | $ | 194,868 | 42.9 | $ | 156,105 | 46.1 | ||||||||||
| Amortization expense | (1,617 | ) | (0.7 | ) | (3,177 | ) | (1.5 | ) | (4,121 | ) | (2.3 | ) | (4,794 | ) | (1.1 | ) | (8,919 | ) | (2.6 | ) | |||||
| Share-based compensation expense | (17,331 | ) | (7.3 | ) | (25,889 | ) | (11.9 | ) | (11,308 | ) | (6.2 | ) | (43,220 | ) | (9.5 | ) | (19,627 | ) | (5.8 | ) | |||||
| Acquisition and integration related costs | (522 | ) | (0.2 | ) | (605 | ) | (0.3 | ) | (1,107 | ) | (0.6 | ) | (1,127 | ) | (0.2 | ) | (9,751 | ) | (2.9 | ) | |||||
| Adjusted operating expenses (Non-GAAP) | $ | 75,816 | 32.1 | $ | 69,911 | 32.1 | $ | 63,269 | 34.9 | $ | 145,727 | 32.1 | $ | 117,808 | 34.8 | ||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||
| April 4, 2025 | January 3, 2025 | March 29, 2024 | April 4, 2025 | March 29, 2024 | |||||||||||
| Amount | % Revenue | Amount | % Revenue | Amount | % Revenue | Amount | % Revenue | Amount | % Revenue | ||||||
| Income from operations - GAAP | $ | 34,870 | 14.8 | $ | 17,527 | 8.0 | $ | 15,407 | 8.5 | $ | 52,397 | 11.5 | $ | 26,417 | 7.8 |
| Amortization expense | 4,960 | 2.1 | 6,509 | 3.0 | 8,321 | 4.6 | 11,469 | 2.5 | 15,061 | 4.5 | |||||
| Share-based compensation expense | 19,096 | 8.1 | 29,387 | 13.5 | 13,128 | 7.2 | 48,483 | 10.7 | 22,997 | 6.8 | |||||
| Acquisition and integration related costs | 878 | 0.4 | 1,999 | 0.9 | 3,333 | 1.8 | 2,877 | 0.6 | 14,267 | 4.2 | |||||
| Adjusted income from operations (Non-GAAP) | $ | 59,804 | 25.4 | $ | 55,422 | 25.4 | $ | 40,189 | 22.2 | $ | 115,226 | 25.4 | $ | 78,742 | 23.3 |
| Depreciation expense | 6,803 | 2.9 | 6,740 | 3.1 | 7,253 | 4.0 | 13,543 | 3.0 | 13,507 | 4.0 | |||||
| Adjusted EBITDA (Non-GAAP) | $ | 66,607 | 28.2 | $ | 62,162 | 28.5 | $ | 47,442 | 26.2 | $ | 128,769 | 28.4 | $ | 92,249 | 27.3 |
| Three Months Ended | Six Months Ended | ||||||||||||||||||
| April 4, 2025 | January 3, 2025 | March 29, 2024 | April 4, 2025 | March 29, 2024 | |||||||||||||||
| Amount | % Revenue | Amount | % Revenue | Amount | % Revenue | Amount | % Revenue | Amount | % Revenue | ||||||||||
| Net income (loss) - GAAP | $ | 31,666 | 13.4 | $ | (167,530 | ) | (76.8 | ) | $ | 14,980 | 8.3 | $ | (135,864 | ) | (29.9 | ) | $ | 27,506 | 8.1 |
| Amortization expense | 4,960 | 2.1 | 6,509 | 3.0 | 8,321 | 4.6 | 11,469 | 2.5 | 15,061 | 4.5 | |||||||||
| Share-based compensation expense | 19,096 | 8.1 | 29,387 | 13.5 | 13,128 | 7.2 | 48,483 | 10.7 | 22,997 | 6.8 | |||||||||
| Non-cash interest, net | 380 | 0.2 | 307 | 0.1 | 287 | 0.2 | 687 | 0.2 | 573 | 0.2 | |||||||||
| Acquisition and integration related costs | 878 | 0.4 | 1,999 | 0.9 | 3,333 | 1.8 | 2,877 | 0.6 | 14,267 | 4.2 | |||||||||
| Loss on debt extinguishment | — | — | 193,098 | 88.5 | — | — | 193,098 | 42.5 | — | — | |||||||||
| Tax effect of non-GAAP adjustments | 7,276 | 3.1 | (4,247 | ) | (1.9 | ) | 3,171 | 1.7 | 3,029 | 0.7 | 4,628 | 1.4 | |||||||
| Adjusted net income (Non-GAAP) | $ | 64,256 | 27.2 | $ | 59,523 | 27.3 | $ | 43,220 | 23.8 | $ | 123,779 | 27.3 | $ | 85,032 | 25.1 | ||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||
| April 4, 2025 | January 3, 2025 | March 29, 2024 | April 4, 2025 | March 29, 2024 | ||||||||||||||||||||
| Net income | Income per diluted share | Net income (loss) | Income (loss) per diluted share | Net income | Income per diluted share | Net income (loss) | Income (loss) per diluted share | Net income | Income per diluted share | |||||||||||||||
| Net income (loss) - GAAP diluted | $ | 31,666 | $ | 0.42 | $ | (167,530 | ) | $ | (2.30 | ) | $ | 14,980 | $ | 0.20 | $ | (135,864 | ) | $ | (1.85 | ) | $ | 27,506 | $ | 0.38 |
| Adjusted net income (Non-GAAP) | $ | 64,256 | $ | 0.85 | $ | 59,523 | $ | 0.79 | $ | 43,220 | $ | 0.59 | $ | 123,779 | $ | 1.64 | $ | 85,032 | $ | 1.17 | ||||
| Three Months Ended | Six Months Ended | |||||||||
| April 4, 2025 | January 3, 2025 | March 29, 2024 | April 4, 2025 | March 29, 2024 | ||||||
| Shares | Shares | Shares | Shares | Shares | ||||||
| Diluted shares - GAAP | 75,741 | 72,780 | 73,272 | 73,540 | 72,779 | |||||
| Incremental shares | — | 2,835 | — | 2,127 | — | |||||
| Adjusted diluted shares (Non-GAAP) | 75,741 | 75,615 | 73,272 | 75,667 | 72,779 | |||||
| Three Months Ended | Six Months Ended | ||||||||||||||||||||||||
| April 4, 2025 | January 3, 2025 | March 29, 2024 | April 4, 2025 | March 29, 2024 | |||||||||||||||||||||
| Amount | % Revenue | Amount | % Revenue | Amount | % Revenue | Amount | % Revenue | Amount | % Revenue | ||||||||||||||||
| Interest income - GAAP | $ | 7,239 | 3.1 | $ | 7,000 | 3.2 | $ | 5,366 | 3.0 | $ | 14,239 | 3.1 | $ | 10,921 | 3.2 | ||||||||||
| Interest expense - GAAP | (1,179 | ) | (0.5 | ) | (1,366 | ) | (0.6 | ) | (1,285 | ) | (0.7 | ) | (2,545 | ) | (0.6 | ) | (2,574 | ) | (0.8 | ) | |||||
| Non-cash interest expense | 380 | 0.2 | 307 | 0.1 | 287 | 0.2 | 687 | 0.2 | 573 | 0.2 | |||||||||||||||
| Adjusted interest income (Non-GAAP) | $ | 6,440 | 2.7 | $ | 5,941 | 2.7 | $ | 4,368 | 2.4 | $ | 12,381 | 2.7 | $ | 8,920 | 2.6 | ||||||||||
FAQ
What was MACOM's (MTSI) revenue in Q2 2025?
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What was MACOM's (MTSI) gross margin in Q2 2025?
How much net income did MACOM (MTSI) report in Q2 2025?
