Silicon Laboratories Inc. develops low-power wireless connectivity and embedded technology for device makers building edge applications. Its news commonly covers integrated SoCs, development ecosystems and security features used in smart home, industrial IoT, smart cities, connected access, tire monitoring and fleet-related applications.
Company updates also address customer selections and partner deployments for products such as BG22 Bluetooth LE SoCs, MG24 multiprotocol wireless SoCs and Secure Vault technology, along with wireless R&D expansion, technical leadership, operating results, shareholder voting matters and capital-structure disclosures.
Silicon Labs reported a strong Q2 2022, with revenue reaching $263 million, a 13% sequential increase and a 55% year-on-year growth. The Industrial & Commercial segment grew 61% to $144 million, while Home & Life revenue climbed 49% to $119 million. The company maintained a 62% gross margin, and GAAP diluted EPS was $0.60. A new Bluetooth Location Services solution was announced, and the board approved a new $250 million share buyback program. Q3 revenue guidance is between $265 million to $275 million.
Silicon Labs (NASDAQ: SLAB) announced the appointment of Robert "Bob" Conrad to its board of directors. Conrad, with nearly 40 years in the semiconductor industry, previously served as Senior Vice President at NXP Semiconductors. His expertise is expected to enhance Silicon Labs' strategic focus and operational growth. Concurrently, Bill Wood will retire after 25 years of service. CEO Matt Johnson expressed gratitude for Wood's contributions, while stating that Conrad's experience will be crucial for Silicon Labs' future innovation and market positioning.
Silicon Labs will host its annual Works With Conference from September 13-15, featuring leaders from major tech companies like Amazon and Google. This virtual event aims to advance IoT technology by focusing on the upcoming Matter standard and its implications for smart devices. Participants will access over 75 technical sessions and 10 hands-on workshops, designed to enhance skills in developing connected devices. Registration for the conference is free, highlighting Silicon Labs' commitment to fostering innovation in wireless technology.
Silicon Labs (NASDAQ: SLAB) announced it will release its Q2 2022 financial results on July 27, 2022, followed by an earnings conference call at 7:30 a.m. CT. The call will be accessible via webcast on the company's website. A replay will be available until August 3, 2022. Silicon Labs is recognized for its secure and intelligent wireless technology, providing integrated hardware and software platforms to support developers across various applications.
Silicon Labs has launched a new Bluetooth Location Services solution aimed at improving asset tracking in hospitals. This solution, powered by the BG22 SoCs and SiP modules, offers low-power operation for up to 10 years, enhancing operational efficiency in healthcare settings. The technology, which supports Angle of Arrival (AoA) and Angle of Departure (AoD) features, allows for accurate indoor tracking and real-time location services. Borda Technology is one of the first adopters, integrating the solution to streamline equipment management and patient care.
Silicon Labs (NASDAQ: SLAB) announced its participation in two upcoming investor conferences. CFO John Hollister will speak at Cowen's Technology, Media, and Telecom Conference on June 1 in New York City, with a fireside chat at 10:15 a.m. ET. Following that, he will participate in the Stifel Cross Sector Insight Conference on June 9 in Boston at 8:35 a.m. ET. Both events will be webcast on the company's Investor Relations page, providing investors with insights into their innovative wireless technology solutions.
SensiML Corporation announced the integration of Silicon Labs' MG24 and BG24 Series 2 Bluetooth SoCs into its SensiML Analytics Toolkit. This inclusion enhances AI capabilities, promising processing speeds up to 4x faster with one-sixth the power consumption for AI/ML applications. The toolkit streamlines development, allowing developers to create sophisticated, low-power IoT devices, benefiting applications like acoustic event detection and motion analysis. SensiML's collaboration with Silicon Labs aims to optimize performance in battery-powered IoT solutions.
Silicon Labs (NASDAQ: SLAB) reported strong financial results for Q1 2022, with revenue reaching $234 million, a 12% sequential increase and 48% year-on-year growth. Revenue was boosted by 61% growth in Industrial & Commercial to $127 million, and a 35% rise in Home & Life to $107 million. The company achieved a gross margin of 67% and plans Q2 revenue guidance between $245 million and $255 million. Silicon Labs also repurchased $250 million of shares in 2022, with an additional $350 million authorized for buybacks.
Silicon Labs (NASDAQ: SLAB) announced it will release its first quarter 2022 financial results on April 27, 2022. An earnings conference call is scheduled at 7:30 a.m. Central Time, which will be accessible via the company's Investor Relations webpage. A replay will be available after the call and can be accessed until May 4, 2022. Silicon Labs specializes in secure, intelligent wireless technology, providing integrated hardware and software platforms to facilitate product development across various industries.
Silicon Labs (NASDAQ: SLAB) has released its 2021 Annual Report to Shareholders and 2022 Proxy Statement, now accessible on its Investor Relations webpage. Shareholders can request hard copies via phone or email. The company continues to focus on secure, intelligent wireless technology, supporting industrial, commercial, and life applications. This move reinforces its commitment to providing innovative solutions that drive industry transformation.