Semtech Announces Fourth Quarter and Fiscal Year 2026 Results
Key Terms
gaap financial
non-gaap financial
free cash flow financial
adjusted ebitda financial
ebitda margin financial
basis points financial
normalized tax rate financial
free cash flow financial
Fourth Quarter of Fiscal Year 2026
-
Record net sales of
$274.4 million 3% sequentially and up9% year-over-year -
GAAP gross margin of
50.4% and Non-GAAP adjusted gross margin of51.6% -
GAAP operating margin of (6.7)% and Non-GAAP adjusted operating margin of
18.2% -
GAAP diluted loss per share of
$0.32 $0.44 -
Operating cash flow of
$61.5 million $59.1 million
Fiscal Year 2026
-
Record net sales of
$1.05 billion 15% year-over-year -
GAAP gross margin of
51.6% , up 140 basis points from fiscal year 2025 and Non-GAAP adjusted gross margin of52.8% , up 130 basis points from fiscal year 2025 -
GAAP operating margin of
3.1% and Non-GAAP adjusted operating margin of19.1% -
GAAP diluted loss per share of
$0.46 $1.71
"Fiscal year 2026 was a landmark year for Semtech, marked by strong revenue and earnings growth that reflect both the power of our portfolio and disciplined execution," said Hong Hou, president and chief executive officer. "We believe we are uniquely positioned as data center build out expands, with a broad set of solutions purpose-built for the 800G, 1.6T, and 3.2T era, and our continued investment in research and development positions us to remain at the forefront of next-generation optical and copper interconnect technologies. With a significantly stronger financial foundation, we have the flexibility to strategically pursue the investments that we believe accelerate the next chapter of Semtech's growth."
"Semtech’s results continue to demonstrate leverage in our financial model, with fourth quarter operating cash flow of
Fourth Quarter and Fiscal Year 2026 Results
(in millions, except per share data) |
Q4'26 |
|
Q3'26 |
|
Q4'25 |
|
FY'26 |
|
FY'25 |
||||||||||
GAAP Financial Results |
|
|
|
|
|
|
|
|
|
||||||||||
Net sales |
$ |
274.4 |
|
|
$ |
267.0 |
|
|
$ |
251.0 |
|
|
$ |
1,050.0 |
|
|
$ |
909.3 |
|
Gross margin |
|
50.4 |
% |
|
|
51.9 |
% |
|
|
52.0 |
% |
|
|
51.6 |
% |
|
|
50.2 |
% |
Operating expenses, net |
$ |
156.5 |
|
|
$ |
107.4 |
|
|
$ |
109.3 |
|
|
$ |
509.6 |
|
|
$ |
406.6 |
|
Operating (loss) income |
$ |
(18.3 |
) |
|
$ |
31.1 |
|
|
$ |
21.2 |
|
|
$ |
32.6 |
|
|
$ |
49.9 |
|
Operating margin |
|
(6.7 |
)% |
|
|
11.6 |
% |
|
|
8.5 |
% |
|
|
3.1 |
% |
|
|
5.5 |
% |
Interest expense, net |
$ |
1.0 |
|
|
$ |
26.2 |
|
|
$ |
16.7 |
|
|
$ |
38.1 |
|
|
$ |
87.8 |
|
Goodwill and intangible impairments |
$ |
44.6 |
|
|
$ |
— |
|
|
$ |
7.5 |
|
|
$ |
86.6 |
|
|
$ |
7.5 |
|
Net (loss) income |
$ |
(29.8 |
) |
|
$ |
(2.9 |
) |
|
$ |
39.1 |
|
|
$ |
(40.4 |
) |
|
$ |
(161.9 |
) |
Diluted (loss) earnings per share |
$ |
(0.32 |
) |
|
$ |
(0.03 |
) |
|
$ |
0.43 |
|
|
$ |
(0.46 |
) |
|
$ |
(2.26 |
) |
(in millions, except per share data) |
Q4'26 |
|
Q3'26 |
|
Q4'25 |
|
FY'26 |
|
FY'25 |
||||||||||
Net sales |
$ |
274.4 |
|
|
$ |
267.0 |
|
|
$ |
251.0 |
|
|
$ |
1,050.0 |
|
|
$ |
909.3 |
|
Non-GAAP Financial Results |
|
|
|
|
|
|
|
|
|
||||||||||
Adjusted gross margin* |
|
51.6 |
% |
|
|
53.0 |
% |
|
|
53.2 |
% |
|
|
52.8 |
% |
|
|
51.5 |
% |
Adjusted operating expenses, net* |
$ |
91.5 |
|
|
$ |
86.5 |
|
|
$ |
83.7 |
|
|
$ |
353.0 |
|
|
$ |
319.6 |
|
Adjusted operating income* |
$ |
50.0 |
|
|
$ |
54.9 |
|
|
$ |
49.8 |
|
|
$ |
201.1 |
|
|
$ |
149.0 |
|
Adjusted operating margin* |
|
18.2 |
% |
|
|
20.6 |
% |
|
|
19.9 |
% |
|
|
19.1 |
% |
|
|
16.4 |
% |
Adjusted interest (income) expense, net* |
$ |
(0.1 |
) |
|
$ |
2.5 |
|
|
$ |
11.2 |
|
|
$ |
11.5 |
|
|
$ |
70.6 |
|
Adjusted net income* |
$ |
42.0 |
|
|
$ |
44.1 |
|
|
$ |
34.5 |
|
|
$ |
156.6 |
|
|
$ |
67.0 |
|
Adjusted diluted earnings per share* |
$ |
0.44 |
|
|
$ |
0.48 |
|
|
$ |
0.40 |
|
|
$ |
1.71 |
|
|
$ |
0.88 |
|
Adjusted EBITDA* |
$ |
57.4 |
|
|
$ |
62.7 |
|
|
$ |
57.8 |
|
|
$ |
232.0 |
|
|
$ |
182.5 |
|
Adjusted EBITDA margin* |
|
20.9 |
% |
|
|
23.5 |
% |
|
|
23.0 |
% |
|
|
22.1 |
% |
|
|
20.1 |
% |
*See "Non-GAAP Financial Measures" below for additional information about our non-GAAP financial results. |
|||||||||||||||||||
First Quarter of Fiscal Year 2027 Outlook
(in millions, except per share data) |
|
||||||
Net sales |
$ |
283.0 |
|
|
+/- |
|
|
Non-GAAP Financial Measures |
|
|
|
|
|
||
Adjusted gross margin* |
|
52.8 |
% |
|
+/- |
|
50 bps |
Total semiconductor products gross margin* |
|
60.4 |
% |
|
+/- |
|
50 bps |
Adjusted operating expenses, net* |
$ |
96.9 |
|
|
+/- |
|
|
Adjusted operating income* |
$ |
52.5 |
|
|
+/- |
|
|
Adjusted operating margin* |
|
18.6 |
% |
|
+/- |
|
70 bps |
Adjusted interest and other expense, net* |
$ |
0.5 |
|
|
|
|
|
Adjusted normalized tax rate* |
|
17 |
% |
|
|
|
|
Adjusted diluted earnings per share* |
$ |
0.45 |
|
|
+/- |
|
|
Adjusted EBITDA* |
$ |
59.5 |
|
|
+/- |
|
|
Adjusted EBITDA margin* |
|
21.0 |
% |
|
+/- |
|
70 bps |
|
|
|
|
|
|
||
Non-GAAP diluted share count* |
|
96.6 |
|
|
|
|
|
*See "Non-GAAP Financial Measures" below for additional information about our non-GAAP financial results. |
|||||||
The Company is unable to include a reconciliation of forward-looking non-GAAP results to the corresponding GAAP measures as they are not available without unreasonable efforts due to the high variability and low visibility with respect to the impact of transaction, integration and restructuring expenses, share-based awards, amortization of acquisition-related intangible assets and other items that are excluded from these non-GAAP measures. The Company expects the variability of the above charges to have a potentially significant impact on its GAAP financial results.
Webcast and Conference Call
Semtech will be hosting a conference call today to discuss its fourth quarter and fiscal year 2026 results at 1:30 p.m. Pacific time. The dial-in number for the call is (877) 407-0312. Please use conference ID 13758258. An audio webcast and supplemental earnings materials for the quarter will be available on the Investor Relations section of Semtech's website at investors.semtech.com under "News & Events." A replay of the call will be available through April 13, 2026 at the same website or by calling (877) 660-6853 and entering conference ID 13758258.
Non-GAAP Financial Measures
To supplement the Company's consolidated financial statements prepared in accordance with GAAP, this release includes a presentation of select non-GAAP financial measures. The Company's non-GAAP measures of adjusted gross margin, total semiconductor products gross margin, adjusted product development and engineering expense, adjusted SG&A expense, adjusted operating expenses, net, adjusted operating income, adjusted operating margin, adjusted interest (income) expense, net, adjusted net income, adjusted diluted earnings per share, adjusted normalized tax rate, adjusted EBITDA and adjusted EBITDA margin exclude the following items, if any and as applicable, as set forth in the reconciliations in the tables below under "Supplemental Information: Reconciliation of GAAP to Non-GAAP Results."
- Share-based compensation
- Intangible amortization
- Transaction and integration related costs or recoveries (including costs associated with the integration of Sierra Wireless, Inc.)
- Restructuring and other reserves, including cumulative other reserves associated with historical activity including environmental, pension, deferred compensation and right-of-use asset impairments
- Litigation costs or dispute settlement charges or recoveries
- Equity method income or loss
- Investment gains, losses, reserves and impairments, including interest income from debt investments
- Write-off and amortization of deferred financing costs
- Interest rate swap termination
- Induced conversion expense
- Loss on extinguishment of debt
- Debt commitment fee
- Goodwill and intangible impairment
- Amortization of inventory step-up
In this release, the Company is providing a total semiconductor products gross margin metric, defined as the combined segment gross margin for the Signal Integrity and Analog Mixed Signal and Wireless reportable segments. For further information, please see the Segment Information footnote of the Company's Form 10-K for the fiscal year ended January 25, 2026. The Company also presents adjusted EBITDA, adjusted EBITDA margin and free cash flow. Adjusted EBITDA is defined as net (loss) income plus interest expense, interest income, (benefit) provision for income taxes, depreciation and amortization, and share-based compensation, and adjusted to exclude certain expenses, gains and losses that the Company believes are not indicative of its core results over time. Adjusted EBITDA margin is defined as adjusted EBITDA as a percentage of net sales. The Company considers free cash flow, which may be positive or negative, a non-GAAP financial measure defined as cash flows provided by operating activities less net capital expenditures. Management believes that the presentation of these non-GAAP measures provides useful information to investors regarding the Company's financial condition and results of operations. These non-GAAP financial measures are adjusted to exclude the items identified above because such items are either operating expenses that would not otherwise have been incurred by the Company in the normal course of the Company's business operations, or are not reflective of the Company's core results over time. These excluded items may include recurring as well as non-recurring items, and no inference should be made that all of these adjustments, charges, costs or expenses are unusual, infrequent or non-recurring. For example: certain restructuring and integration-related expenses (which consist of employee termination costs, facility closure or lease termination costs, and contract termination costs) may be considered recurring given the Company's ongoing efforts to be more cost effective and efficient; certain acquisition and disposition-related adjustments or expenses may be deemed recurring given the Company's regular evaluation of potential transactions and investments; and certain litigation expenses or dispute settlement charges or gains (which may include estimated losses for which the Company may have established a reserve, as well as any actual settlements, judgments, or other resolutions against, or in favor of, the Company related to litigation, arbitration, disputes or similar matters, and insurance recoveries received by the Company related to such matters) may be viewed as recurring given that the Company may from time to time be involved in, and may resolve, litigation, arbitration, disputes, and similar matters.
Notwithstanding that certain adjustments, charges, costs or expenses may be considered recurring, in order to provide meaningful comparisons, the Company believes that it is appropriate to exclude such items because they are not reflective of the Company's core results and tend to vary based on timing, frequency and magnitude.
These non-GAAP financial measures are provided to enhance the user's overall understanding of the Company's comparable financial performance between periods. In addition, the Company's management generally excludes the items noted above when managing and evaluating the performance of the business. Certain non-GAAP financial measures are also used in the Company's compensation programs. The financial statements provided with this release include reconciliations of these non-GAAP financial measures to their most comparable GAAP measures for the fourth quarter of fiscal year 2025, the third and fourth quarters of fiscal year 2026, and the full-year fiscal 2026 and fiscal 2025 periods.
The Company adopted a full-year, normalized tax rate for the computation of the non-GAAP income tax provision in order to provide better comparability across the interim reporting periods by reducing the quarterly variability in non-GAAP tax rates that can occur throughout the year. In estimating the full-year non-GAAP normalized tax rate, the Company utilized a full-year financial projection that considers multiple factors such as changes to the Company's current operating structure, existing positions in various tax jurisdictions, the effect of key tax law changes, and other significant tax matters to the extent they are applicable to the full fiscal year financial projection. In addition to the adjustments described above, this normalized tax rate excludes the impact of share-based awards and the amortization of acquisition-related intangible assets. For fiscal year 2026, the Company's projected non-GAAP normalized tax rate was
To provide additional insight into the Company's first quarter outlook, this release also includes a presentation of forward-looking non-GAAP financial measures. See "First Quarter of Fiscal Year 2027 Outlook" above for further information.
Forward-Looking and Cautionary Statements
This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, as amended, based on the Company's current expectations, estimates and projections about its operations, industry, financial condition, performance, results of operations, and liquidity. Forward-looking statements are statements other than historical information or statements of current condition and relate to matters such as future financial performance including the first quarter of fiscal year 2027 outlook; future operational performance; the anticipated impact of specific items on future earnings; the Company's expectations regarding near term growth trends and market position; and the Company's plans, objectives and expectations. Statements containing words such as "may," "believes," "see," "anticipates," "expects," "intends," "positions," "plans," "projects," "objectives," "estimates," "develops," "should," "could," "will," "designed to," "projections," or "outlook," or other similar expressions constitute forward-looking statements.
Forward-looking statements involve known and unknown risks and uncertainties that could cause actual results and events to differ materially from those projected. Potential factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: the volatility of our financial results or impact of the cyclical nature of our industry, including during industry downturns or due to periodic economic uncertainty; the historical rapid decrease of the average selling prices of certain products; disruptions in
Amounts reported in this press release are preliminary and subject to the finalization of the filing of our Annual Report on Form 10-K for the year ended January 25, 2026. In the reported results, Q4'26 refers to the quarter ended January 25, 2026, Q3'26 refers to the quarter ended October 26, 2025, Q4'25 refers to the quarter ended January 26, 2025, FY'26 refers to the fiscal year ended January 25, 2026, and FY'25 refers to the fiscal year ended January 26, 2025. Reported amounts may not foot precisely due to rounding.
About Semtech
Semtech Corporation (Nasdaq: SMTC) is a leading provider of high-performance semiconductors powering data center networking, IoT connectivity and cellular infrastructure solutions dedicated to delivering high-quality technology solutions that enable a smarter, more connected and sustainable planet. Our global teams are committed to empowering solution architects and application developers to develop breakthrough products for the infrastructure, industrial and consumer markets. To learn more about Semtech technology, visit us at Semtech.com.
Semtech and the Semtech logo are registered trademarks or service marks of Semtech Corporation or its subsidiaries.
SMTC-F
SEMTECH CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in millions, except per share data) (unaudited) |
|||||||||||||||||||
|
Q4'26 |
|
Q3'26 |
|
Q4'25 |
|
FY'26 |
|
FY'25 |
||||||||||
Net sales |
$ |
274.4 |
|
|
$ |
267.0 |
|
|
$ |
251.0 |
|
|
$ |
1,050.0 |
|
|
$ |
909.3 |
|
Cost of sales |
|
133.5 |
|
|
|
126.3 |
|
|
|
118.2 |
|
|
|
498.6 |
|
|
|
443.7 |
|
Amortization of acquired technology |
|
2.6 |
|
|
|
2.2 |
|
|
|
2.3 |
|
|
|
9.2 |
|
|
|
9.1 |
|
Total cost of sales |
|
136.1 |
|
|
|
128.5 |
|
|
|
120.5 |
|
|
|
507.8 |
|
|
|
452.8 |
|
Gross profit |
|
138.3 |
|
|
|
138.5 |
|
|
|
130.5 |
|
|
|
542.1 |
|
|
|
456.5 |
|
Operating expenses, net: |
|
|
|
|
|
|
|
|
|
||||||||||
Product development and engineering |
|
51.2 |
|
|
|
49.4 |
|
|
|
46.7 |
|
|
|
196.3 |
|
|
|
170.9 |
|
Selling, general and administrative |
|
59.8 |
|
|
|
57.1 |
|
|
|
54.5 |
|
|
|
221.9 |
|
|
|
222.4 |
|
Intangible amortization |
|
0.2 |
|
|
|
0.1 |
|
|
|
0.1 |
|
|
|
0.6 |
|
|
|
0.9 |
|
Restructuring |
|
0.7 |
|
|
|
0.8 |
|
|
|
0.4 |
|
|
|
4.2 |
|
|
|
4.9 |
|
Intangible impairments |
|
1.8 |
|
|
|
— |
|
|
|
— |
|
|
|
1.8 |
|
|
|
— |
|
Goodwill impairment |
|
42.8 |
|
|
|
— |
|
|
|
7.5 |
|
|
|
84.8 |
|
|
|
7.5 |
|
Total operating expenses, net |
|
156.5 |
|
|
|
107.4 |
|
|
|
109.3 |
|
|
|
509.6 |
|
|
|
406.6 |
|
Operating (loss) income |
|
(18.3 |
) |
|
|
31.1 |
|
|
|
21.2 |
|
|
|
32.6 |
|
|
|
49.9 |
|
Interest expense |
|
(1.8 |
) |
|
|
(27.0 |
) |
|
|
(17.5 |
) |
|
|
(40.6 |
) |
|
|
(90.1 |
) |
Interest income |
|
0.8 |
|
|
|
0.8 |
|
|
|
0.8 |
|
|
|
2.5 |
|
|
|
2.3 |
|
Loss on extinguishment of debt |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(144.7 |
) |
Non-operating (expense) income, net |
|
(0.7 |
) |
|
|
(0.4 |
) |
|
|
2.0 |
|
|
|
(5.3 |
) |
|
|
0.3 |
|
Investment impairments and credit loss reserves, net |
|
(10.4 |
) |
|
|
— |
|
|
|
— |
|
|
|
(10.4 |
) |
|
|
(1.1 |
) |
(Loss) income before taxes and equity method (loss) income |
|
(30.4 |
) |
|
|
4.4 |
|
|
|
6.5 |
|
|
|
(21.2 |
) |
|
|
(183.4 |
) |
(Benefit) provision for income taxes |
|
(0.9 |
) |
|
|
7.3 |
|
|
|
(33.2 |
) |
|
|
19.8 |
|
|
|
(22.0 |
) |
Net (loss) income before equity method (loss) income |
|
(29.4 |
) |
|
|
(2.9 |
) |
|
|
39.7 |
|
|
|
(41.0 |
) |
|
|
(161.3 |
) |
Equity method (loss) income |
|
(0.4 |
) |
|
|
— |
|
|
|
(0.6 |
) |
|
|
0.6 |
|
|
|
(0.5 |
) |
Net (loss) income |
$ |
(29.8 |
) |
|
$ |
(2.9 |
) |
|
$ |
39.1 |
|
|
$ |
(40.4 |
) |
|
$ |
(161.9 |
) |
|
|
|
|
|
|
|
|
|
|
||||||||||
(Loss) earnings per share: |
|
|
|
|
|
|
|
|
|
||||||||||
Basic |
$ |
(0.32 |
) |
|
$ |
(0.03 |
) |
|
$ |
0.48 |
|
|
$ |
(0.46 |
) |
|
$ |
(2.26 |
) |
Diluted |
$ |
(0.32 |
) |
|
$ |
(0.03 |
) |
|
$ |
0.43 |
|
|
$ |
(0.46 |
) |
|
$ |
(2.26 |
) |
|
|
|
|
|
|
|
|
|
|
||||||||||
Weighted average number of shares used in computing (loss) earnings per share: |
|
|
|
|
|||||||||||||||
Basic |
|
92.6 |
|
|
|
87.7 |
|
|
|
81.3 |
|
|
|
88.4 |
|
|
|
71.6 |
|
Diluted |
|
92.6 |
|
|
|
87.7 |
|
|
|
90.3 |
|
|
|
88.4 |
|
|
|
71.6 |
|
SEMTECH CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (in millions) (unaudited) |
|||||
|
January 25, 2026 |
|
January 26, 2025 |
||
ASSETS |
|
|
|
||
Current assets: |
|
|
|
||
Cash and cash equivalents |
$ |
195.2 |
|
$ |
151.7 |
Accounts receivable, net |
|
160.6 |
|
|
162.5 |
Inventories |
|
195.7 |
|
|
163.6 |
Prepaid taxes |
|
15.4 |
|
|
13.5 |
Other current assets |
|
88.2 |
|
|
94.1 |
Total current assets |
|
655.1 |
|
|
585.5 |
Non-current assets: |
|
|
|
||
Property, plant and equipment, net |
|
109.3 |
|
|
126.2 |
Deferred tax assets |
|
34.2 |
|
|
41.1 |
Goodwill |
|
457.9 |
|
|
533.1 |
Other intangible assets, net |
|
40.0 |
|
|
33.1 |
Other assets |
|
113.7 |
|
|
100.3 |
Total assets |
$ |
1,410.3 |
|
$ |
1,419.3 |
|
|
|
|
||
LIABILITIES AND EQUITY |
|
|
|
||
Current liabilities: |
|
|
|
||
Accounts payable |
$ |
84.1 |
|
$ |
59.2 |
Accrued liabilities |
|
191.8 |
|
|
178.2 |
Current portion of long-term debt |
|
— |
|
|
45.6 |
Total current liabilities |
|
275.9 |
|
|
283.0 |
Non-current liabilities: |
|
|
|
||
Deferred tax liabilities |
|
0.1 |
|
|
0.8 |
Long-term debt |
|
491.2 |
|
|
505.9 |
Other long-term liabilities |
|
93.3 |
|
|
87.1 |
Stockholders' equity |
|
549.7 |
|
|
542.4 |
Total liabilities & equity |
$ |
1,410.3 |
|
$ |
1,419.3 |
SEMTECH CORPORATION SUPPLEMENTAL CASH FLOW INFORMATION (in millions) (unaudited) |
|||||||||||||||||||
|
Q4'26 |
|
Q3'26 |
|
Q4'25 |
|
FY'26 |
|
FY'25 |
||||||||||
Net cash provided by operating activities |
$ |
61.5 |
|
|
$ |
47.5 |
|
|
$ |
33.5 |
|
|
$ |
181.2 |
|
|
$ |
58.0 |
|
Net capital expenditures |
|
(2.4 |
) |
|
|
(2.8 |
) |
|
|
(2.6 |
) |
|
|
(9.8 |
) |
|
|
(7.9 |
) |
Free cash flow |
$ |
59.1 |
|
|
$ |
44.6 |
|
|
$ |
30.9 |
|
|
$ |
171.4 |
|
|
$ |
50.1 |
|
SEMTECH CORPORATION SUPPLEMENTAL INFORMATION: RECONCILIATION OF GAAP TO NON-GAAP RESULTS (in millions) (unaudited) |
|||||||||||||||||||||||
|
Q4'26 |
||||||||||||||||||||||
(in millions) |
Signal Integrity |
|
Analog Mixed Signal and Wireless |
|
Total Semiconductor Products |
|
IoT Systems and Connectivity |
|
Unallocated1 |
|
Total |
||||||||||||
Net sales |
$ |
90.7 |
|
|
$ |
93.7 |
|
|
$ |
184.5 |
|
|
$ |
89.9 |
|
|
$ |
— |
|
|
$ |
274.4 |
|
Segment cost of sales |
|
29.5 |
|
|
|
41.0 |
|
|
|
70.6 |
|
|
|
61.5 |
|
|
|
4.0 |
|
|
|
136.1 |
|
Segment gross profit |
$ |
61.2 |
|
|
$ |
52.7 |
|
|
$ |
113.9 |
|
|
$ |
28.4 |
|
|
$ |
(4.0 |
) |
|
$ |
138.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Segment gross margin |
|
67.4 |
% |
|
|
56.2 |
% |
|
|
61.7 |
% |
|
|
31.6 |
% |
|
NM2 |
|
|
||||
Gross margin (GAAP) |
|
|
|
|
|
|
|
|
|
|
|
50.4 |
% |
||||||||||
Share-based compensation |
|
|
|
|
|
|
|
|
|
|
0.2 |
% |
|||||||||||
Amortization of acquired technology |
|
|
|
|
|
|
|
|
|
|
1.0 |
% |
|||||||||||
Adjusted gross margin (Non-GAAP) |
|
|
|
|
|
|
|
|
|
|
51.6 |
% |
|||||||||||
|
Q3'26 |
||||||||||||||||||||||
(in millions) |
Signal Integrity |
|
Analog Mixed Signal and Wireless |
|
Total Semiconductor Products |
|
IoT Systems and Connectivity |
|
Unallocated1 |
|
Total |
||||||||||||
Net sales |
$ |
81.6 |
|
|
$ |
97.0 |
|
|
$ |
178.7 |
|
|
$ |
88.3 |
|
|
$ |
— |
|
|
$ |
267.0 |
|
Segment cost of sales |
|
28.5 |
|
|
|
40.8 |
|
|
|
69.2 |
|
|
|
56.0 |
|
|
|
3.3 |
|
|
|
128.5 |
|
Segment gross profit |
$ |
53.2 |
|
|
$ |
56.3 |
|
|
$ |
109.4 |
|
|
$ |
32.4 |
|
|
$ |
(3.3 |
) |
|
$ |
138.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Segment gross margin |
|
65.1 |
% |
|
|
58.0 |
% |
|
|
61.3 |
% |
|
|
36.6 |
% |
|
NM2 |
|
|
||||
Gross margin (GAAP) |
|
|
|
|
|
|
|
|
|
|
|
51.9 |
% |
||||||||||
Share-based compensation |
|
|
|
|
|
|
|
|
|
|
0.2 |
% |
|||||||||||
Amortization of acquired technology |
|
|
|
|
|
|
|
|
|
|
0.9 |
% |
|||||||||||
Adjusted gross margin (Non-GAAP) |
|
|
|
|
|
|
|
|
|
|
53.0 |
% |
|||||||||||
|
Q4'25 |
||||||||||||||||||||||
(in millions) |
Signal Integrity |
|
Analog Mixed Signal and Wireless |
|
Total Semiconductor Products |
|
IoT Systems and Connectivity |
|
Unallocated1 |
|
Total |
||||||||||||
Net sales |
$ |
72.5 |
|
|
$ |
85.4 |
|
|
$ |
157.9 |
|
|
$ |
93.1 |
|
|
$ |
— |
|
|
$ |
251.0 |
|
Segment cost of sales |
|
26.5 |
|
|
|
39.5 |
|
|
|
66.0 |
|
|
|
53.6 |
|
|
|
0.9 |
|
|
|
120.5 |
|
Segment gross profit |
$ |
46.0 |
|
|
$ |
45.9 |
|
|
$ |
91.9 |
|
|
$ |
39.5 |
|
|
$ |
(0.9 |
) |
|
$ |
130.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Segment gross margin |
|
63.4 |
% |
|
|
53.8 |
% |
|
|
58.2 |
% |
|
|
42.5 |
% |
|
NM2 |
|
|
||||
Gross margin (GAAP) |
|
|
|
|
|
|
|
|
|
|
|
52.0 |
% |
||||||||||
Share-based compensation |
|
|
|
|
|
|
|
|
|
|
0.3 |
% |
|||||||||||
Amortization of acquired technology |
|
|
|
|
|
|
|
|
|
|
0.9 |
% |
|||||||||||
Adjusted gross margin (Non-GAAP) |
|
|
|
|
|
|
|
|
|
|
53.2 |
% |
|||||||||||
1 Unallocated includes share-based compensation and amortization of acquired technology |
|||||||||||||||||||||||
2 Not meaningful |
|||||||||||||||||||||||
SEMTECH CORPORATION SUPPLEMENTAL INFORMATION: RECONCILIATION OF GAAP TO NON-GAAP RESULTS (CONTINUED) (in millions) (unaudited) |
|||||||||||||||||||||||
|
FY'26 |
||||||||||||||||||||||
(in millions) |
Signal Integrity |
|
Analog Mixed Signal and Wireless |
|
Total Semiconductor Products |
|
IoT Systems and Connectivity |
|
Unallocated1 |
|
Total |
||||||||||||
Net sales |
$ |
322.6 |
|
|
$ |
373.4 |
|
|
$ |
696.1 |
|
|
$ |
353.9 |
|
|
$ |
— |
|
|
$ |
1,050.0 |
|
Segment cost of sales |
|
112.3 |
|
|
|
153.5 |
|
|
|
265.7 |
|
|
|
228.2 |
|
|
|
13.9 |
|
|
|
507.8 |
|
Segment gross profit |
$ |
210.3 |
|
|
$ |
220.0 |
|
|
$ |
430.3 |
|
|
$ |
125.7 |
|
|
$ |
(13.9 |
) |
|
$ |
542.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Segment gross margin |
|
65.2 |
% |
|
|
58.9 |
% |
|
|
61.8 |
% |
|
|
35.5 |
% |
|
NM2 |
|
|
||||
Gross margin (GAAP) |
|
|
|
|
|
|
|
|
|
|
|
51.6 |
% |
||||||||||
Share-based compensation |
|
|
|
|
|
|
|
|
|
|
0.3 |
% |
|||||||||||
Amortization of acquired technology |
|
|
|
|
|
|
|
|
|
|
0.9 |
% |
|||||||||||
Adjusted gross margin (Non-GAAP) |
|
|
|
|
|
|
|
|
|
|
52.8 |
% |
|||||||||||
|
FY'25 |
||||||||||||||||||||||
(in millions) |
Signal Integrity |
|
Analog Mixed Signal and Wireless |
|
Total Semiconductor Products |
|
IoT Systems and Connectivity |
|
Unallocated1 |
|
Total |
||||||||||||
Net sales |
$ |
261.7 |
|
|
$ |
322.9 |
|
|
$ |
584.6 |
|
|
$ |
324.6 |
|
|
$ |
— |
|
|
$ |
909.3 |
|
Segment cost of sales |
|
99.1 |
|
|
|
143.5 |
|
|
|
242.6 |
|
|
|
197.1 |
|
|
|
13.1 |
|
|
|
452.8 |
|
Segment gross profit |
$ |
162.7 |
|
|
$ |
179.4 |
|
|
$ |
342.0 |
|
|
$ |
127.6 |
|
|
$ |
(13.1 |
) |
|
$ |
456.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Segment gross margin |
|
62.1 |
% |
|
|
55.6 |
% |
|
|
58.5 |
% |
|
|
39.3 |
% |
|
NM2 |
|
|
||||
Gross margin (GAAP) |
|
|
|
|
|
|
|
|
|
|
|
50.2 |
% |
||||||||||
Share-based compensation |
|
|
|
|
|
|
|
|
|
|
0.3 |
% |
|||||||||||
Amortization of acquired technology |
|
|
|
|
|
|
|
|
|
|
1.0 |
% |
|||||||||||
Adjusted gross margin (Non-GAAP) |
|
|
|
|
|
|
|
|
|
|
51.5 |
% |
|||||||||||
1 Unallocated includes share-based compensation and amortization of acquired technology |
|||||||||||||||||||||||
2 Not meaningful |
|||||||||||||||||||||||
SEMTECH CORPORATION SUPPLEMENTAL INFORMATION: RECONCILIATION OF GAAP TO NON-GAAP RESULTS (CONTINUED) (in millions) (unaudited) |
|||||||||||||||||||
|
Q4'26 |
|
Q3'26 |
|
Q4'25 |
|
FY'26 |
|
FY'25 |
||||||||||
Product development and engineering (GAAP) |
$ |
51.2 |
|
|
$ |
49.4 |
|
|
$ |
46.7 |
|
|
$ |
196.3 |
|
|
$ |
170.9 |
|
Share-based compensation |
|
(4.0 |
) |
|
|
(3.9 |
) |
|
|
(3.5 |
) |
|
|
(15.1 |
) |
|
|
(14.0 |
) |
Adjusted product development and engineering (Non-GAAP) |
$ |
47.2 |
|
|
$ |
45.5 |
|
|
$ |
43.1 |
|
|
$ |
181.3 |
|
|
$ |
156.9 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Q4'26 |
|
Q3'26 |
|
Q4'25 |
|
FY'26 |
|
FY'25 |
||||||||||
Selling, general and administrative (GAAP) |
$ |
59.8 |
|
|
$ |
57.1 |
|
|
$ |
54.5 |
|
|
$ |
221.9 |
|
|
$ |
222.4 |
|
Share-based compensation |
|
(11.8 |
) |
|
|
(12.5 |
) |
|
|
(13.0 |
) |
|
|
(39.9 |
) |
|
|
(51.1 |
) |
Transaction and integration related costs, net |
|
(2.6 |
) |
|
|
(1.1 |
) |
|
|
(0.9 |
) |
|
|
(6.0 |
) |
|
|
(7.4 |
) |
Environmental reserve |
|
— |
|
|
|
(1.2 |
) |
|
|
— |
|
|
|
(1.2 |
) |
|
|
— |
|
Litigation costs, net |
|
(1.1 |
) |
|
|
(1.3 |
) |
|
|
(0.1 |
) |
|
|
(3.0 |
) |
|
|
(1.2 |
) |
Adjusted selling, general and administrative (Non-GAAP) |
$ |
44.3 |
|
|
$ |
41.1 |
|
|
$ |
40.5 |
|
|
$ |
171.7 |
|
|
$ |
162.6 |
|
|
Q4'26 |
|
Q3'26 |
|
Q4'25 |
|
FY'26 |
|
FY'25 |
||||||||||
Operating expenses, net (GAAP) |
$ |
156.5 |
|
|
$ |
107.4 |
|
|
$ |
109.3 |
|
|
$ |
509.6 |
|
|
$ |
406.6 |
|
Share-based compensation |
|
(15.8 |
) |
|
|
(16.4 |
) |
|
|
(16.5 |
) |
|
|
(55.0 |
) |
|
|
(65.1 |
) |
Intangible amortization |
|
(0.2 |
) |
|
|
(0.1 |
) |
|
|
(0.1 |
) |
|
|
(0.6 |
) |
|
|
(0.9 |
) |
Transaction and integration related costs, net |
|
(2.6 |
) |
|
|
(1.1 |
) |
|
|
(0.9 |
) |
|
|
(6.0 |
) |
|
|
(7.4 |
) |
Restructuring and other reserves, net |
|
(0.7 |
) |
|
|
(2.0 |
) |
|
|
(0.4 |
) |
|
|
(5.4 |
) |
|
|
(4.9 |
) |
Litigation costs, net |
|
(1.1 |
) |
|
|
(1.3 |
) |
|
|
(0.1 |
) |
|
|
(3.0 |
) |
|
|
(1.2 |
) |
Intangible impairments |
|
(1.8 |
) |
|
|
— |
|
|
|
— |
|
|
|
(1.8 |
) |
|
|
— |
|
Goodwill impairment |
|
(42.8 |
) |
|
|
— |
|
|
|
(7.5 |
) |
|
|
(84.8 |
) |
|
|
(7.5 |
) |
Adjusted operating expenses, net (Non-GAAP) |
$ |
91.5 |
|
|
$ |
86.5 |
|
|
$ |
83.7 |
|
|
$ |
353.0 |
|
|
$ |
319.6 |
|
|
Q4'26 |
|
Q3'26 |
|
Q4'25 |
|
FY'26 |
|
FY'25 |
||||||
Operating (loss) income (GAAP) |
$ |
(18.3 |
) |
|
$ |
31.1 |
|
$ |
21.2 |
|
$ |
32.6 |
|
$ |
49.9 |
Share-based compensation |
|
16.5 |
|
|
|
17.1 |
|
|
17.3 |
|
|
57.7 |
|
|
68.0 |
Intangible amortization |
|
2.7 |
|
|
|
2.4 |
|
|
2.4 |
|
|
9.8 |
|
|
10.0 |
Transaction and integration related costs, net |
|
2.6 |
|
|
|
1.1 |
|
|
0.9 |
|
|
6.0 |
|
|
7.4 |
Restructuring and other reserves, net |
|
0.7 |
|
|
|
2.0 |
|
|
0.4 |
|
|
5.4 |
|
|
4.9 |
Litigation costs, net |
|
1.1 |
|
|
|
1.3 |
|
|
0.1 |
|
|
3.0 |
|
|
1.2 |
Intangible impairments |
|
1.8 |
|
|
|
— |
|
|
— |
|
|
1.8 |
|
|
— |
Goodwill impairment |
|
42.8 |
|
|
|
— |
|
|
7.5 |
|
|
84.8 |
|
|
7.5 |
Adjusted operating income (Non-GAAP) |
$ |
50.0 |
|
|
$ |
54.9 |
|
$ |
49.8 |
|
$ |
201.1 |
|
$ |
149.0 |
SEMTECH CORPORATION SUPPLEMENTAL INFORMATION: RECONCILIATION OF GAAP TO NON-GAAP RESULTS (CONTINUED) (in millions) (unaudited) |
||||||||||||||
|
Q4'26 |
|
Q3'26 |
|
Q4'25 |
|
FY'26 |
|
FY'25 |
|||||
Operating margin (GAAP) |
(6.7 |
)% |
|
11.6 |
% |
|
8.5 |
% |
|
3.1 |
% |
|
5.5 |
% |
Share-based compensation |
6.0 |
% |
|
6.5 |
% |
|
6.9 |
% |
|
5.5 |
% |
|
7.5 |
% |
Intangible amortization |
1.0 |
% |
|
0.9 |
% |
|
0.9 |
% |
|
0.8 |
% |
|
1.1 |
% |
Transaction and integration related costs, net |
1.0 |
% |
|
0.4 |
% |
|
0.3 |
% |
|
0.6 |
% |
|
0.8 |
% |
Restructuring and other reserves, net |
0.3 |
% |
|
0.7 |
% |
|
0.2 |
% |
|
0.5 |
% |
|
0.6 |
% |
Litigation costs, net |
0.4 |
% |
|
0.5 |
% |
|
0.1 |
% |
|
0.3 |
% |
|
0.1 |
% |
Intangible impairments |
0.6 |
% |
|
— |
% |
|
— |
% |
|
0.2 |
% |
|
— |
% |
Goodwill impairment |
15.6 |
% |
|
— |
% |
|
3.0 |
% |
|
8.1 |
% |
|
0.8 |
% |
Adjusted operating margin (Non-GAAP) |
18.2 |
% |
|
20.6 |
% |
|
19.9 |
% |
|
19.1 |
% |
|
16.4 |
% |
|
Q4'26 |
|
Q3'26 |
|
Q4'25 |
|
FY'26 |
|
FY'25 |
||||||||||
Interest expense, net (GAAP) |
$ |
1.0 |
|
|
$ |
26.2 |
|
|
$ |
16.7 |
|
|
$ |
38.1 |
|
|
$ |
87.8 |
|
Amortization of deferred financing costs |
|
(1.1 |
) |
|
|
(1.6 |
) |
|
|
(1.5 |
) |
|
|
(4.8 |
) |
|
|
(8.3 |
) |
Write-off of deferred financing costs |
|
— |
|
|
|
(1.4 |
) |
|
|
(7.7 |
) |
|
|
(2.4 |
) |
|
|
(13.2 |
) |
Interest rate swap termination |
|
— |
|
|
|
0.6 |
|
|
|
3.6 |
|
|
|
1.8 |
|
|
|
3.6 |
|
Induced conversion expense |
|
— |
|
|
|
(21.2 |
) |
|
|
— |
|
|
|
(21.2 |
) |
|
|
— |
|
Investment income |
|
— |
|
|
|
— |
|
|
|
0.2 |
|
|
|
— |
|
|
|
0.8 |
|
Adjusted interest expense, net (Non-GAAP) |
$ |
(0.1 |
) |
|
$ |
2.5 |
|
|
$ |
11.2 |
|
|
$ |
11.5 |
|
|
$ |
70.6 |
|
|
Q4'26 |
|
Q3'26 |
|
Q4'25 |
|
FY'26 |
|
FY'25 |
||||||
Loss on extinguishment of debt (GAAP) |
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
144.7 |
|
Loss on extinguishment of debt |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
(144.7 |
) |
Adjusted loss on extinguishment of debt (Non-GAAP) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
SEMTECH CORPORATION SUPPLEMENTAL INFORMATION: RECONCILIATION OF GAAP TO NON-GAAP RESULTS (CONTINUED) (in millions, except per share data) (unaudited) |
|||||||||||||||||||
|
Q4'26 |
|
Q3'26 |
|
Q4'25 |
|
FY'26 |
|
FY'25 |
||||||||||
Net (loss) income (GAAP) |
$ |
(29.8 |
) |
|
$ |
(2.9 |
) |
|
$ |
39.1 |
|
|
$ |
(40.4 |
) |
|
$ |
(161.9 |
) |
Adjustments to GAAP net (loss) income: |
|
|
|
|
|
|
|
|
|
||||||||||
Share-based compensation |
|
16.5 |
|
|
|
17.1 |
|
|
|
17.3 |
|
|
|
57.7 |
|
|
|
68.0 |
|
Intangible amortization |
|
2.7 |
|
|
|
2.4 |
|
|
|
2.4 |
|
|
|
9.8 |
|
|
|
10.0 |
|
Transaction and integration related costs, net |
|
2.6 |
|
|
|
1.1 |
|
|
|
0.9 |
|
|
|
6.0 |
|
|
|
7.9 |
|
Restructuring and other reserves, net |
|
0.7 |
|
|
|
2.0 |
|
|
|
0.4 |
|
|
|
5.4 |
|
|
|
4.9 |
|
Litigation costs, net |
|
1.1 |
|
|
|
1.3 |
|
|
|
0.1 |
|
|
|
3.0 |
|
|
|
1.2 |
|
Investment losses (gains), net |
|
10.4 |
|
|
|
— |
|
|
|
(0.2 |
) |
|
|
10.4 |
|
|
|
— |
|
Amortization of deferred financing costs |
|
1.1 |
|
|
|
1.6 |
|
|
|
1.5 |
|
|
|
4.8 |
|
|
|
8.3 |
|
Write-off of deferred financing costs |
|
— |
|
|
|
1.4 |
|
|
|
7.7 |
|
|
|
2.4 |
|
|
|
13.2 |
|
Interest rate swap termination |
|
— |
|
|
|
(0.6 |
) |
|
|
(3.6 |
) |
|
|
(1.8 |
) |
|
|
(3.6 |
) |
Loss on extinguishment of debt |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
144.7 |
|
Intangible impairments |
|
1.8 |
|
|
|
— |
|
|
|
— |
|
|
|
1.8 |
|
|
|
— |
|
Induced conversion expense |
|
— |
|
|
|
21.2 |
|
|
|
— |
|
|
|
21.2 |
|
|
|
— |
|
Goodwill impairment |
|
42.8 |
|
|
|
— |
|
|
|
7.5 |
|
|
|
84.8 |
|
|
|
7.5 |
|
Total Non-GAAP adjustments before taxes |
|
79.8 |
|
|
|
47.5 |
|
|
|
34.0 |
|
|
|
205.4 |
|
|
|
262.2 |
|
Associated tax effect |
|
(8.3 |
) |
|
|
(0.5 |
) |
|
|
(39.3 |
) |
|
|
(7.8 |
) |
|
|
(33.9 |
) |
Equity method loss (income) |
|
0.4 |
|
|
|
— |
|
|
|
0.6 |
|
|
|
(0.6 |
) |
|
|
0.5 |
|
Total of supplemental information, net of taxes |
|
71.8 |
|
|
|
47.0 |
|
|
|
(4.7 |
) |
|
|
197.0 |
|
|
|
228.9 |
|
Adjusted net income (Non-GAAP) |
$ |
42.0 |
|
|
$ |
44.1 |
|
|
$ |
34.5 |
|
|
$ |
156.6 |
|
|
$ |
67.0 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Diluted (loss) earnings per share (GAAP) |
$ |
(0.32 |
) |
|
$ |
(0.03 |
) |
|
$ |
0.43 |
|
|
$ |
(0.46 |
) |
|
$ |
(2.26 |
) |
Adjustments per above |
|
0.76 |
|
|
|
0.51 |
|
|
|
(0.03 |
) |
|
|
2.17 |
|
|
|
3.14 |
|
Adjusted diluted earnings per share (Non-GAAP) |
$ |
0.44 |
|
|
$ |
0.48 |
|
|
$ |
0.40 |
|
|
$ |
1.71 |
|
|
$ |
0.88 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Weighted-average number of shares used in computing diluted (loss) earnings per share: |
|
|
|
|
|
|
|||||||||||||
GAAP |
|
92.6 |
|
|
|
87.7 |
|
|
|
90.3 |
|
|
|
88.4 |
|
|
|
71.6 |
|
Non-GAAP |
|
95.7 |
|
|
|
92.8 |
|
|
|
87.1 |
|
|
|
91.6 |
|
|
|
76.2 |
|
SEMTECH CORPORATION SUPPLEMENTAL INFORMATION: RECONCILIATION OF GAAP TO NON-GAAP RESULTS (CONTINUED) (in millions) (unaudited) |
|||||||||||||||||||
|
Q4'26 |
|
Q3'26 |
|
Q4'25 |
|
FY'26 |
|
FY'25 |
||||||||||
Net (loss) income (GAAP) |
$ |
(29.8 |
) |
|
$ |
(2.9 |
) |
|
$ |
39.1 |
|
|
$ |
(40.4 |
) |
|
$ |
(161.9 |
) |
Interest expense |
|
1.8 |
|
|
|
27.0 |
|
|
|
17.5 |
|
|
|
40.6 |
|
|
|
90.1 |
|
Interest income |
|
(0.8 |
) |
|
|
(0.8 |
) |
|
|
(0.8 |
) |
|
|
(2.5 |
) |
|
|
(2.3 |
) |
Loss on extinguishment of debt |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
144.7 |
|
Non-operating expense (income), net |
|
0.7 |
|
|
|
0.4 |
|
|
|
(2.0 |
) |
|
|
5.3 |
|
|
|
(0.3 |
) |
Investment impairments and credit loss reserves, net |
|
10.4 |
|
|
|
— |
|
|
|
— |
|
|
|
10.4 |
|
|
|
1.1 |
|
(Benefit) provision for income taxes |
|
(0.9 |
) |
|
|
7.3 |
|
|
|
(33.2 |
) |
|
|
19.8 |
|
|
|
(22.0 |
) |
Equity method loss (income) |
|
0.4 |
|
|
|
— |
|
|
|
0.6 |
|
|
|
(0.6 |
) |
|
|
0.5 |
|
Share-based compensation |
|
16.5 |
|
|
|
17.1 |
|
|
|
17.3 |
|
|
|
57.7 |
|
|
|
68.0 |
|
Depreciation and amortization |
|
10.2 |
|
|
|
10.1 |
|
|
|
10.4 |
|
|
|
40.8 |
|
|
|
43.5 |
|
Transaction and integration related costs, net |
|
2.6 |
|
|
|
1.1 |
|
|
|
0.9 |
|
|
|
6.0 |
|
|
|
7.4 |
|
Restructuring and other reserves, net |
|
0.7 |
|
|
|
2.0 |
|
|
|
0.4 |
|
|
|
5.4 |
|
|
|
4.9 |
|
Litigation costs, net |
|
1.1 |
|
|
|
1.3 |
|
|
|
0.1 |
|
|
|
3.0 |
|
|
|
1.2 |
|
Intangible impairments |
|
1.8 |
|
|
|
— |
|
|
|
— |
|
|
|
1.8 |
|
|
|
— |
|
Goodwill impairment |
|
42.8 |
|
|
|
— |
|
|
|
7.5 |
|
|
|
84.8 |
|
|
|
7.5 |
|
Adjusted EBITDA (Non-GAAP) |
$ |
57.4 |
|
|
$ |
62.7 |
|
|
$ |
57.8 |
|
|
$ |
232.0 |
|
|
$ |
182.5 |
|
|
Q4'26 |
|
Q3'26 |
|
Q4'25 |
|
FY'26 |
|
FY'25 |
|||||
Operating margin (GAAP) |
(6.7 |
)% |
|
11.6 |
% |
|
8.5 |
% |
|
3.1 |
% |
|
5.5 |
% |
Share-based compensation |
6.0 |
% |
|
6.5 |
% |
|
6.9 |
% |
|
5.5 |
% |
|
7.5 |
% |
Depreciation and amortization |
3.7 |
% |
|
3.8 |
% |
|
4.0 |
% |
|
3.8 |
% |
|
4.8 |
% |
Transaction and integration related costs, net |
1.0 |
% |
|
0.4 |
% |
|
0.3 |
% |
|
0.6 |
% |
|
0.8 |
% |
Restructuring and other reserves, net |
0.3 |
% |
|
0.7 |
% |
|
0.2 |
% |
|
0.5 |
% |
|
0.6 |
% |
Litigation costs, net |
0.4 |
% |
|
0.5 |
% |
|
0.1 |
% |
|
0.3 |
% |
|
0.1 |
% |
Intangible impairments |
0.6 |
% |
|
— |
% |
|
— |
% |
|
0.2 |
% |
|
— |
% |
Goodwill impairment |
15.6 |
% |
|
— |
% |
|
3.0 |
% |
|
8.1 |
% |
|
0.8 |
% |
Adjusted EBITDA margin (Non-GAAP) |
20.9 |
% |
|
23.5 |
% |
|
23.0 |
% |
|
22.1 |
% |
|
20.1 |
% |
View source version on businesswire.com: https://www.businesswire.com/news/home/20260316127252/en/
Mitch Haws
Semtech Corporation
webir@semtech.com
Source: Semtech Corporation
