MACOM Reports Fiscal Third Quarter 2025 Financial Results
MACOM Technology Solutions (Nasdaq: MTSI), a semiconductor products supplier, reported strong fiscal Q3 2025 results with revenue of $252.1 million, up 32.3% year-over-year and 6.9% sequentially. The company achieved a GAAP gross margin of 55.3% and net income of $36.5 million ($0.48 per diluted share).
On a non-GAAP basis, MACOM posted an adjusted gross margin of 57.6% and adjusted net income of $68.2 million ($0.90 per diluted share). For Q4 2025, the company projects revenue between $256-264 million and adjusted earnings per share of $0.91-0.95.
MACOM Technology Solutions (Nasdaq: MTSI), fornitore di prodotti a semiconduttore, ha riportato risultati solidi per il terzo trimestre fiscale 2025 con ricavi pari a 252,1 milioni di dollari, in aumento del 32,3% rispetto all'anno precedente e del 6,9% rispetto al trimestre precedente. L'azienda ha raggiunto un margine lordo GAAP del 55,3% e un utile netto di 36,5 milioni di dollari (0,48 dollari per azione diluita).
Su base non-GAAP, MACOM ha registrato un margine lordo rettificato del 57,6% e un utile netto rettificato di 68,2 milioni di dollari (0,90 dollari per azione diluita). Per il quarto trimestre 2025, la società prevede ricavi compresi tra 256 e 264 milioni di dollari e utili rettificati per azione tra 0,91 e 0,95 dollari.
MACOM Technology Solutions (Nasdaq: MTSI), proveedor de productos semiconductores, reportó sólidos resultados en el tercer trimestre fiscal de 2025 con ingresos de 252,1 millones de dólares, un aumento del 32,3% interanual y del 6,9% secuencial. La compañía logró un margen bruto GAAP del 55,3% y una utilidad neta de 36,5 millones de dólares (0,48 dólares por acción diluida).
En base no GAAP, MACOM registró un margen bruto ajustado del 57,6% y una utilidad neta ajustada de 68,2 millones de dólares (0,90 dólares por acción diluida). Para el cuarto trimestre de 2025, la empresa proyecta ingresos entre 256 y 264 millones de dólares y ganancias ajustadas por acción entre 0,91 y 0,95 dólares.
MACOM Technology Solutions (나스닥: MTSI)는 반도체 제품 공급업체로서 2025 회계연도 3분기에 매출액 2억 5,210만 달러를 기록하며 전년 동기 대비 32.3%, 전분기 대비 6.9% 증가한 강력한 실적을 보고했습니다. 회사는 GAAP 기준 총이익률 55.3%와 순이익 3,650만 달러 (희석 주당 0.48달러)를 달성했습니다.
비-GAAP 기준으로는 MACOM이 조정된 총이익률 57.6%와 조정 순이익 6,820만 달러 (희석 주당 0.90달러)를 기록했습니다. 2025년 4분기에는 매출액이 2억 5,600만~2억 6,400만 달러, 조정 주당순이익은 0.91~0.95달러로 예상하고 있습니다.
MACOM Technology Solutions (Nasdaq : MTSI), fournisseur de produits semi-conducteurs, a publié de solides résultats pour le troisième trimestre fiscal 2025 avec un chiffre d'affaires de 252,1 millions de dollars, en hausse de 32,3 % en glissement annuel et de 6,9 % par rapport au trimestre précédent. La société a réalisé une marge brute GAAP de 55,3 % et un bénéfice net de 36,5 millions de dollars (0,48 dollar par action diluée).
Sur une base non-GAAP, MACOM a affiché une marge brute ajustée de 57,6 % et un bénéfice net ajusté de 68,2 millions de dollars (0,90 dollar par action diluée). Pour le quatrième trimestre 2025, la société prévoit un chiffre d'affaires compris entre 256 et 264 millions de dollars et un bénéfice ajusté par action de 0,91 à 0,95 dollar.
MACOM Technology Solutions (Nasdaq: MTSI), ein Anbieter von Halbleiterprodukten, meldete starke Ergebnisse für das dritte Quartal des Geschäftsjahres 2025 mit einem Umsatz von 252,1 Millionen US-Dollar, was einem Anstieg von 32,3 % im Jahresvergleich und 6,9 % im Quartalsvergleich entspricht. Das Unternehmen erzielte eine GAAP-Bruttomarge von 55,3% und einen Nettogewinn von 36,5 Millionen US-Dollar (0,48 US-Dollar je verwässerter Aktie).
Auf Non-GAAP-Basis verzeichnete MACOM eine bereinigte Bruttomarge von 57,6% und einen bereinigten Nettogewinn von 68,2 Millionen US-Dollar (0,90 US-Dollar je verwässerter Aktie). Für das vierte Quartal 2025 prognostiziert das Unternehmen einen Umsatz zwischen 256 und 264 Millionen US-Dollar sowie bereinigte Gewinne je Aktie zwischen 0,91 und 0,95 US-Dollar.
- Revenue growth of 32.3% year-over-year to $252.1 million
- GAAP gross margin improved to 55.3% from 53.2% year-over-year
- Adjusted net income increased 39.5% year-over-year to $68.2 million
- Strong Q4 guidance suggesting continued growth momentum
- Slight sequential decline in adjusted operating margin from 25.4% to 25.2%
- Expected adjusted gross margin guidance for Q4 potentially lower at 56-58%
Insights
MACOM shows strong growth with 32.3% YoY revenue increase, expanded margins, and positive outlook for continued momentum.
MACOM delivered exceptional quarterly results with revenue reaching
The company's profitability metrics show impressive improvement across all key indicators. GAAP gross margin expanded to
Most notably, MACOM's income from operations nearly doubled year-over-year, reaching
The adjusted earnings per share of
MACOM's diversified product portfolio appears to be resonating in the market, likely benefiting from increased demand across multiple semiconductor end markets. The consistent sequential improvements across three consecutive quarters suggest this isn't a temporary spike but rather sustained business acceleration. The combination of above-industry growth rates, expanding margins, and positive forward guidance signals MACOM is executing effectively on its strategic initiatives while capitalizing on favorable market conditions.
LOWELL, Mass., Aug. 07, 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 third quarter ended July 4, 2025.
Third Quarter Fiscal Year 2025 GAAP Results
- Revenue was
$252.1 million , an increase of32.3% , compared to$190.5 million in the previous year fiscal third quarter and an increase of6.9% compared to$235.9 million in the prior fiscal quarter; - Gross margin was
55.3% , compared to53.2% in the previous year fiscal third quarter and55.2% in the prior fiscal quarter; - Income from operations was
$37.7 million , or14.9% of revenue, compared to income from operations of$19.7 million , or10.4% of revenue, in the previous year fiscal third quarter and income from operations of$34.9 million , or14.8% of revenue, in the prior fiscal quarter; and - Net income was
$36.5 million , or$0.48 income per diluted share, compared to net income of$19.9 million , or$0.27 per diluted share, in the previous year fiscal third quarter and net income of$31.7 million , or$0.42 per diluted share, in the prior fiscal quarter.
Third Quarter Fiscal Year 2025 Adjusted Non-GAAP Results
- Adjusted gross margin was
57.6% , compared to57.5% in the previous year fiscal third quarter and57.5% in the prior fiscal quarter; - Adjusted income from operations was
$63.5 million , or25.2% of revenue, compared to adjusted income from operations of$45.6 million , or24.0% of revenue, in the previous year fiscal third quarter and adjusted income from operations of$59.8 million , or25.4% of revenue, in the prior fiscal quarter; and - Adjusted net income was
$68.2 million , or$0.90 per diluted share, compared to adjusted net income of$48.9 million , or$0.66 per diluted share, in the previous year fiscal third quarter and adjusted net income of$64.3 million , or$0.85 per diluted share, in the prior fiscal quarter.
Management Commentary
“Our team did a great job this quarter,” said Stephen G. Daly, President and Chief Executive Officer, MACOM. “Our results demonstrate the growing competitiveness of MACOM’s diverse product portfolio and our increasing momentum in the market.”
Business Outlook
For the fiscal fourth quarter ending October 3, 2025, MACOM expects revenue to be in the range of
Conference Call
MACOM will host a conference call on Thursday, August 7, 2025, at 8:30 a.m. Eastern Time to discuss its fiscal third 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 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 fourth 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); the impact of the July 4, 2025 Bill on our business; 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 | Nine Months Ended | ||||||||||||||||||
| July 4, 2025 | April 4, 2025 | June 28, 2024 | July 4, 2025 | June 28, 2024 | |||||||||||||||
| Revenue | $ | 252,079 | $ | 235,887 | $ | 190,486 | $ | 706,088 | $ | 528,868 | |||||||||
| Cost of revenue | 112,643 | 105,731 | 89,077 | 319,387 | 244,937 | ||||||||||||||
| Gross profit | 139,436 | 130,156 | 101,409 | 386,701 | 283,931 | ||||||||||||||
| Operating expenses: | |||||||||||||||||||
| Research and development | 63,380 | 57,837 | 47,531 | 181,586 | 132,566 | ||||||||||||||
| Selling, general and administrative | 38,396 | 37,449 | 34,162 | 115,058 | 105,233 | ||||||||||||||
| Total operating expenses | 101,776 | 95,286 | 81,693 | 296,644 | 237,799 | ||||||||||||||
| Income from operations | 37,660 | 34,870 | 19,716 | 90,057 | 46,132 | ||||||||||||||
| Other income (expense): | |||||||||||||||||||
| Interest income | 7,598 | 7,239 | 5,820 | 21,837 | 16,742 | ||||||||||||||
| Interest expense | (1,178 | ) | (1,179 | ) | (1,288 | ) | (3,723 | ) | (3,862 | ) | |||||||||
| Loss on extinguishment of debt | — | — | — | (193,098 | ) | — | |||||||||||||
| Total other income (expense) | 6,420 | 6,060 | 4,532 | (174,984 | ) | 12,880 | |||||||||||||
| Income (loss) before income taxes | 44,080 | 40,930 | 24,248 | (84,927 | ) | 59,012 | |||||||||||||
| Income tax expense | 7,546 | 9,264 | 4,309 | 14,403 | 11,567 | ||||||||||||||
| Net income (loss) | $ | 36,534 | $ | 31,666 | $ | 19,939 | $ | (99,330 | ) | $ | 47,445 | ||||||||
| Net income (loss) per share: | |||||||||||||||||||
| Income (loss) per share - Basic | $ | 0.49 | $ | 0.43 | $ | 0.28 | $ | (1.35 | ) | $ | 0.66 | ||||||||
| Income (loss) per share - Diluted | $ | 0.48 | $ | 0.42 | $ | 0.27 | $ | (1.35 | ) | $ | 0.65 | ||||||||
| Weighted average common shares: | |||||||||||||||||||
| Shares - Basic | 74,427 | 74,358 | 72,143 | 73,828 | 71,881 | ||||||||||||||
| Shares - Diluted | 75,864 | 75,741 | 74,217 | 73,828 | 73,258 | ||||||||||||||
| MACOM TECHNOLOGY SOLUTIONS HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited and in thousands) | |||||
| July 4, 2025 | September 27, 2024 | ||||
| ASSETS | |||||
| Current assets: | |||||
| Cash and cash equivalents | $ | 125,466 | $ | 146,806 | |
| Short-term investments | 609,760 | 435,082 | |||
| Accounts receivable, net | 129,494 | 105,700 | |||
| Inventories | 215,388 | 194,490 | |||
| Prepaid and other current assets | 47,247 | 21,000 | |||
| Total current assets | 1,127,355 | 903,078 | |||
| Property and equipment, net | 208,987 | 176,017 | |||
| Goodwill and intangible assets, net | 411,824 | 408,289 | |||
| Deferred income taxes | 211,259 | 212,495 | |||
| Other long-term assets | 43,847 | 55,761 | |||
| Total assets | $ | 2,003,272 | $ | 1,755,640 | |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||
| Current liabilities: | |||||
| Short-term debt | 160,844 | — | |||
| Accounts payable | 60,643 | 43,202 | |||
| Accrued liabilities | 72,467 | 64,336 | |||
| Current portion of finance lease obligations | 693 | 646 | |||
| Total current liabilities | 294,647 | 108,184 | |||
| Finance lease obligations, less current portion | 30,667 | 31,130 | |||
| Financing obligation | 37,150 | 9,006 | |||
| Long-term debt obligations | 339,351 | 448,281 | |||
| Other long-term liabilities | 38,106 | 32,696 | |||
| Total liabilities | 739,921 | 629,297 | |||
| Stockholders’ equity | 1,263,351 | 1,126,343 | |||
| Total liabilities and stockholders’ equity | $ | 2,003,272 | $ | 1,755,640 | |
| MACOM TECHNOLOGY SOLUTIONS HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited and in thousands) | |||||||
| Nine Months Ended | |||||||
| July 4, 2025 | June 28, 2024 | ||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||
| Net (loss) income | $ | (99,330 | ) | $ | 47,445 | ||
| Depreciation and intangible asset amortization | 45,646 | 49,419 | |||||
| Share-based compensation | 61,593 | 34,092 | |||||
| Deferred income taxes | 53 | 6,655 | |||||
| Loss on extinguishment of debt | 193,098 | — | |||||
| Other adjustments, net | (1,068 | ) | (1,207 | ) | |||
| Accounts receivable | (22,829 | ) | (17,882 | ) | |||
| Inventories | (20,638 | ) | (25,103 | ) | |||
| Accrued and other liabilities | (4,781 | ) | (6,072 | ) | |||
| Change in other operating assets and liabilities | 13,988 | 12,964 | |||||
| Net cash provided by operating activities | 165,732 | 100,311 | |||||
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||
| Acquisition of business, net | (12,684 | ) | (72,615 | ) | |||
| Sales, purchases and maturities of investments | (171,333 | ) | (56,604 | ) | |||
| Purchases of property and equipment | (22,332 | ) | (17,252 | ) | |||
| Purchase of property under financing arrangement | (28,750 | ) | — | ||||
| Other investing | (11,032 | ) | (2,144 | ) | |||
| Net cash used in investing activities | (246,131 | ) | (148,615 | ) | |||
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||
| Proceeds from convertible notes | 86,629 | — | |||||
| Proceeds from financing arrangement | 28,750 | — | |||||
| Payments for fee on convertible note exchange and debt issuance costs | (23,166 | ) | — | ||||
| Payments on finance leases and other financing obligations | (942 | ) | (1,062 | ) | |||
| Proceeds from stock option exercises and employee stock purchases | 10,209 | 6,505 | |||||
| Common stock withheld for taxes on employee equity awards | (42,684 | ) | (13,877 | ) | |||
| Net cash provided by (used in) financing activities | 58,796 | (8,434 | ) | ||||
| Foreign currency effect on cash | 263 | 90 | |||||
| NET CHANGE IN CASH AND CASH EQUIVALENTS | (21,340 | ) | (56,648 | ) | |||
| CASH AND CASH EQUIVALENTS — Beginning of period | 146,806 | 173,952 | |||||
| CASH AND CASH EQUIVALENTS — End of period | $ | 125,466 | $ | 117,304 | |||
| MACOM TECHNOLOGY SOLUTIONS HOLDINGS, INC. RECONCILIATIONS OF GAAP TO NON-GAAP RESULTS (unaudited and in thousands, except per share data) | |||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||
| July 4, 2025 | April 4, 2025 | June 28, 2024 | July 4, 2025 | June 28, 2024 | |||||||||||
| Amount | % Revenue | Amount | % Revenue | Amount | % Revenue | Amount | % Revenue | Amount | % Revenue | ||||||
| Gross profit - GAAP | $ | 139,436 | 55.3 | $ | 130,156 | 55.2 | $ | 101,409 | 53.2 | $ | 386,701 | 54.8 | $ | 283,931 | 53.7 |
| Amortization expense | 3,349 | 1.3 | 3,343 | 1.4 | 4,344 | 2.3 | 10,024 | 1.4 | 10,485 | 2.0 | |||||
| Share-based compensation expense | 2,058 | 0.8 | 1,765 | 0.7 | 1,681 | 0.9 | 7,321 | 1.0 | 5,051 | 1.0 | |||||
| Acquisition and integration related costs | 355 | 0.1 | 356 | 0.2 | 2,059 | 1.1 | 2,105 | 0.3 | 6,575 | 1.2 | |||||
| Adjusted gross profit (Non-GAAP) | $ | 145,198 | 57.6 | $ | 135,620 | 57.5 | $ | 109,493 | 57.5 | $ | 406,151 | 57.5 | $ | 306,042 | 57.9 |
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
| July 4, 2025 | April 4, 2025 | June 28, 2024 | July 4, 2025 | June 28, 2024 | |||||||||||||||||||||
| Amount | % Revenue | Amount | % Revenue | Amount | % Revenue | Amount | % Revenue | Amount | % Revenue | ||||||||||||||||
| Operating expenses - GAAP | $ | 101,776 | 40.4 | $ | 95,286 | 40.4 | $ | 81,693 | 42.9 | $ | 296,644 | 42.0 | $ | 237,799 | 45.0 | ||||||||||
| Amortization expense | (1,618 | ) | (0.6 | ) | (1,617 | ) | (0.7 | ) | (4,332 | ) | (2.3 | ) | (6,412 | ) | (0.9 | ) | (13,251 | ) | (2.5 | ) | |||||
| Share-based compensation expense | (17,510 | ) | (6.9 | ) | (17,331 | ) | (7.3 | ) | (13,010 | ) | (6.8 | ) | (60,730 | ) | (8.6 | ) | (32,637 | ) | (6.2 | ) | |||||
| Acquisition and integration related costs | (966 | ) | (0.4 | ) | (522 | ) | (0.2 | ) | (493 | ) | (0.3 | ) | (2,093 | ) | (0.3 | ) | (10,244 | ) | (1.9 | ) | |||||
| Adjusted operating expenses (Non-GAAP) | $ | 81,682 | 32.4 | $ | 75,816 | 32.1 | $ | 63,858 | 33.5 | $ | 227,409 | 32.2 | $ | 181,667 | 34.4 | ||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||
| July 4, 2025 | April 4, 2025 | June 28, 2024 | July 4, 2025 | June 28, 2024 | |||||||||||
| Amount | % Revenue | Amount | % Revenue | Amount | % Revenue | Amount | % Revenue | Amount | % Revenue | ||||||
| Income from operations - GAAP | $ | 37,660 | 14.9 | $ | 34,870 | 14.8 | $ | 19,716 | 10.4 | $ | 90,057 | 12.8 | $ | 46,132 | 8.7 |
| Amortization expense | 4,967 | 2.0 | 4,960 | 2.1 | 8,676 | 4.6 | 16,436 | 2.3 | 23,736 | 4.5 | |||||
| Share-based compensation expense | 19,568 | 7.8 | 19,096 | 8.1 | 14,691 | 7.7 | 68,051 | 9.6 | 37,688 | 7.1 | |||||
| Acquisition and integration related costs | 1,321 | 0.5 | 878 | 0.4 | 2,552 | 1.3 | 4,198 | 0.6 | 16,819 | 3.2 | |||||
| Adjusted income from operations (Non-GAAP) | $ | 63,516 | 25.2 | $ | 59,804 | 25.4 | $ | 45,635 | 24.0 | $ | 178,742 | 25.3 | $ | 124,375 | 23.5 |
| Depreciation expense | 6,856 | 2.7 | 6,803 | 2.9 | 7,333 | 3.8 | 20,399 | 2.9 | 20,840 | 3.9 | |||||
| Adjusted EBITDA (Non-GAAP) | $ | 70,372 | 27.9 | $ | 66,607 | 28.2 | $ | 52,968 | 27.8 | $ | 199,141 | 28.2 | $ | 145,215 | 27.5 |
| Three Months Ended | Nine Months Ended | ||||||||||||||||
| July 4, 2025 | April 4, 2025 | June 28, 2024 | July 4, 2025 | June 28, 2024 | |||||||||||||
| Amount | % Revenue | Amount | % Revenue | Amount | % Revenue | Amount | % Revenue | Amount | % Revenue | ||||||||
| Net income (loss) - GAAP | $ | 36,534 | 14.5 | $ | 31,666 | 13.4 | $ | 19,939 | 10.5 | $ | (99,330 | ) | (14.1 | ) | $ | 47,445 | 9.0 |
| Amortization expense | 4,967 | 2.0 | 4,960 | 2.1 | 8,676 | 4.6 | 16,436 | 2.3 | 23,736 | 4.5 | |||||||
| Share-based compensation expense | 19,568 | 7.8 | 19,096 | 8.1 | 14,691 | 7.7 | 68,051 | 9.6 | 37,689 | 7.1 | |||||||
| Non-cash interest, net | 381 | 0.2 | 380 | 0.2 | 287 | 0.2 | 1,068 | 0.2 | 860 | 0.2 | |||||||
| Acquisition and integration related costs | 1,321 | 0.5 | 878 | 0.4 | 2,552 | 1.3 | 4,198 | 0.6 | 16,819 | 3.2 | |||||||
| Loss on debt extinguishment | — | — | — | — | — | — | 193,098 | 27.3 | — | — | |||||||
| Tax effect of non-GAAP adjustments | 5,436 | 2.2 | 7,276 | 3.1 | 2,795 | 1.5 | 8,465 | 1.2 | 7,423 | 1.4 | |||||||
| Adjusted net income (Non-GAAP) | $ | 68,207 | 27.1 | $ | 64,256 | 27.2 | $ | 48,940 | 25.7 | $ | 191,986 | 27.2 | $ | 133,972 | 25.3 | ||
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||
| July 4, 2025 | April 4, 2025 | June 28, 2024 | July 4, 2025 | June 28, 2024 | ||||||||||||||||||
| Net income | Income per diluted share | Net income (loss) | Income 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 | $ | 36,534 | $ | 0.48 | $ | 31,666 | $ | 0.42 | $ | 19,939 | $ | 0.27 | $ | (99,330 | ) | $ | (1.35 | ) | $ | 47,445 | $ | 0.65 |
| Adjusted net income (Non-GAAP) | $ | 68,207 | $ | 0.90 | $ | 64,256 | $ | 0.85 | $ | 48,940 | $ | 0.66 | $ | 191,986 | $ | 2.54 | $ | 133,972 | $ | 1.83 | ||
| Three Months Ended | Nine Months Ended | |||||||||
| July 4, 2025 | April 4, 2025 | June 28, 2024 | July 4, 2025 | June 28, 2024 | ||||||
| Shares | Shares | Shares | Shares | Shares | ||||||
| Diluted shares - GAAP | 75,864 | 75,741 | 74,217 | 73,828 | 73,258 | |||||
| Incremental shares | — | — | — | 1,902 | — | |||||
| Adjusted diluted shares (Non-GAAP) | 75,864 | 75,741 | 74,217 | 75,730 | 73,258 | |||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
| July 4, 2025 | April 4, 2025 | June 28, 2024 | July 4, 2025 | June 28, 2024 | |||||||||||||||||||||
| Amount | % Revenue | Amount | % Revenue | Amount | % Revenue | Amount | % Revenue | Amount | % Revenue | ||||||||||||||||
| Interest income - GAAP | $ | 7,598 | 3.0 | $ | 7,239 | 3.1 | $ | 5,820 | 3.1 | $ | 21,837 | 3.1 | $ | 16,742 | 3.2 | ||||||||||
| Interest expense - GAAP | (1,178 | ) | (0.5 | ) | (1,179 | ) | (0.5 | ) | (1,288 | ) | (0.7 | ) | (3,723 | ) | (0.5 | ) | (3,862 | ) | (0.7 | ) | |||||
| Non-cash interest expense | 381 | 0.2 | 380 | 0.2 | 287 | 0.2 | 1,068 | 0.2 | 860 | 0.2 | |||||||||||||||
| Adjusted interest income (Non-GAAP) | $ | 6,801 | 2.7 | $ | 6,440 | 2.7 | $ | 4,819 | 2.5 | $ | 19,182 | 2.7 | $ | 13,740 | 2.6 | ||||||||||
FAQ
What were MACOM's (MTSI) Q3 2025 earnings results?
How much did MACOM's revenue grow in Q3 2025?
What is MACOM's revenue guidance for Q4 2025?
What was MACOM's gross margin in Q3 2025?
How did MACOM's Q3 2025 results compare to the previous quarter?
