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MACOM (Nasdaq: MTSI) Q3 profit rises, Q4 revenue guided to $415–$425M

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

MACOM Technology Solutions Holdings reported fiscal third quarter 2026 results with revenue of $342.2 million, up 35.8% from the prior-year quarter and 18.4% sequentially. GAAP gross margin improved to 58.3%, and income from operations rose to $77.1 million, or 22.5% of revenue. GAAP net income reached $100.7 million, or $1.28 per diluted share.

On a non-GAAP basis, adjusted income from operations was $107.7 million with a 31.5% margin, and adjusted net income was $109.8 million, or $1.40 per diluted share. For the fiscal fourth quarter ending October 2, 2026, MACOM expects revenue between $415 million and $425 million, adjusted gross margin of 60.0–61.0%, and adjusted diluted EPS of $1.97–$2.03.

Positive

  • Quarterly revenue increased 35.8% year over year to $342.2 million, with GAAP gross margin improving to 58.3% and operating margin to 22.5%.
  • GAAP net income rose to $100.7 million and diluted EPS to $1.28, while adjusted net income reached $109.8 million and adjusted EPS $1.40.
  • Guidance for fiscal Q4 2026 calls for revenue of $415–$425 million, adjusted gross margin of 60.0–61.0%, and adjusted diluted EPS of $1.97–$2.03.

Negative

  • None.

Filing Explained

On July 3, MACOM reported $89,604 thousand cash, $573,426 thousand short-term investments, and $340,465 thousand short-term debt.

A Form 8-K reports specified material events, and this filing reports MACOM’s completed fiscal third-quarter results for the period ended July 3, 2026. Its balance sheet shows the company’s disclosed liquidity and debt position at that date, rather than a new equity issuance or financing event.

As of July 3, 2026, MACOM reported $89,604 thousand of cash and cash equivalents, $573,426 thousand of short-term investments, and $340,465 thousand of short-term debt; long-term debt obligations were zero. The nine-month financing cash outflow was $207,495 thousand, including $161,151 thousand used to repay convertible notes.

GAAP net income for the quarter included a $41,543 thousand gain on investment fair value. The company’s adjusted measures exclude investment fair-value gains or losses and other listed items, so adjusted results supplement rather than replace GAAP results.

For the forward-looking non-GAAP figures in the outlook, the company says it did not provide a GAAP reconciliation because certain inputs could not be reliably estimated; that limitation applies to the stated future estimates, not the reported quarter.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Revenue (Q3 FY2026) $342.2 million GAAP revenue for fiscal third quarter ended July 3, 2026, up 35.8% year over year.
GAAP net income (Q3 FY2026) $100.7 million Net income for fiscal third quarter 2026, compared with $36.5 million a year earlier.
GAAP diluted EPS (Q3 FY2026) $1.28 Earnings per diluted share for fiscal third quarter 2026.
Adjusted net income (Q3 FY2026) $109.8 million Non-GAAP net income for fiscal third quarter 2026, versus $68.2 million in the prior-year quarter.
Adjusted diluted EPS (Q3 FY2026) $1.40 Non-GAAP diluted earnings per share for fiscal third quarter 2026.
Q4 FY2026 revenue guidance $415–$425 million Forecast revenue range for fiscal fourth quarter ending October 2, 2026.
Q4 FY2026 adjusted EPS guidance $1.97–$2.03 Forecast non-GAAP diluted EPS range for fiscal fourth quarter 2026, based on a 3% income tax rate.
Net cash from operating activities (9M FY2026) $201,550 thousand Net cash provided by operating activities for nine months ended July 3, 2026.
Adjusted EBITDA financial
"Adjusted EBITDA – is a calculation that adds depreciation expense to our adjusted income from operations."
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
loss on extinguishment of debt financial
"Loss on Debt Extinguishment – includes loss on exchange of our convertible notes."
Loss on extinguishment of debt is the accounting hit a company records when it retires or restructures a loan or bond for an amount that exceeds the debt’s recorded value—like paying more than the remaining balance to settle a loan early. It matters to investors because it reduces reported profit and can use cash, but may also cut future interest costs or signal financial stress; understanding it helps assess earnings quality and balance-sheet strength.
Gains/Losses on Investment Fair Value, Net financial
"Gains/Losses on Investment Fair Value, Net – includes unrealized gains or losses recognized associated with long-term investments."
IATF16949 automotive standard technical
"MACOM has achieved certification to the IATF16949 automotive standard, the AS9100D aerospace standard, the ISO9001 international quality standard."
Revenue (GAAP) $342.2 million increased 35.8% from $252.1 million in the previous-year fiscal third quarter and 18.4% from $289.0 million in the prior fiscal quarter
Income from operations (GAAP) $77.1 million rose from $37.7 million in the previous-year fiscal third quarter and from $50.8 million in the prior fiscal quarter
Net income (GAAP) $100.7 million compared to $36.5 million in the previous-year fiscal third quarter and $46.3 million in the prior fiscal quarter
Diluted EPS (GAAP) $1.28 up from $0.48 a year earlier and $0.60 in the prior fiscal quarter
Adjusted net income (non-GAAP) $109.8 million compared to $68.2 million in the previous-year fiscal third quarter and $84.3 million in the prior fiscal quarter
Adjusted diluted EPS (non-GAAP) $1.40 up from $0.90 a year earlier and $1.09 in the prior fiscal quarter
Adjusted EBITDA (non-GAAP) $116,735 thousand up from $70,372 thousand in the previous-year fiscal third quarter
Guidance

For the fiscal fourth quarter ending October 2, 2026, MACOM expects revenue of $415–$425 million, adjusted gross margin of 60.0–61.0%, and adjusted diluted EPS of $1.97–$2.03 based on a 3% non-GAAP income tax rate and 78.9 million diluted shares.

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FAQ

What were MACOM (MTSI) revenue and earnings in fiscal Q3 2026?
MACOM reported Q3 2026 revenue of $342.2 million, up 35.8% year over year. GAAP net income was $100.7 million, equal to $1.28 per diluted share, and adjusted diluted EPS was $1.40.

How did MACOM (MTSI) non-GAAP results compare with GAAP in Q3 2026?
Adjusted income from operations was $107.7 million with a 31.5% margin, above GAAP operating income of $77.1 million. Adjusted net income was $109.8 million, compared with GAAP net income of $100.7 million, and adjusted diluted EPS was $1.40 versus $1.28 GAAP.

What guidance did MACOM (MTSI) provide for fiscal Q4 2026?
For the quarter ending October 2, 2026, MACOM expects revenue of $415–$425 million, adjusted gross margin of 60.0–61.0%, and adjusted diluted EPS of $1.97–$2.03, assuming a 3% non-GAAP income tax rate and 78.9 million diluted shares.

How strong was MACOM (MTSI) cash flow in the first nine months of 2026?
For the nine months ended July 3, 2026, MACOM generated $201,550 thousand in net cash provided by operating activities. The company used cash for investments, capital expenditures and debt repayment, ending the period with $89,604 thousand in cash and cash equivalents.

How did MACOM (MTSI) profitability margins trend in Q3 2026?
GAAP gross margin reached 58.3%, up from 55.3% a year earlier and 56.9% in the prior quarter. GAAP operating margin was 22.5%, while adjusted operating margin improved to 31.5%, versus 25.2% in the previous-year quarter.

When is MACOM (MTSI) holding its Q3 2026 earnings conference call?
MACOM scheduled its fiscal Q3 2026 earnings call for Thursday, August 6, 2026, at 8:30 a.m. Eastern Time. Investors can register for access codes or listen via the webcast on the company’s Investor Relations website at https://ir.macom.com/events-webcasts.

How does MACOM (MTSI) describe its use of non-GAAP financial measures?
MACOM presents measures such as non-GAAP gross margin, operating income, net income and EBITDA excluding items like amortization, share-based compensation and acquisition costs. Management states these metrics help evaluate ongoing performance, but they are provided in addition to, not as a substitute for, GAAP results.
0001493594false00014935942026-08-062026-08-06

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 6, 2026
MACOM Technology Solutions Holdings, Inc.
(Exact name of registrant as specified in its charter)
Delaware001-3545127-0306875
(State or other jurisdiction of
incorporation or organization)		(Commission
File Number)		(I.R.S. Employer
Identification No.)
100 Chelmsford Street
Lowell, Massachusetts
01851
(Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code: (978) 656-2500
Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of exchange on which registered
Common Stock, par value $0.001 per shareMTSINasdaq Global Select Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.¨



Item 2.02. Results of Operations and Financial Condition.
On August 6, 2026, MACOM Technology Solutions Holdings, Inc. issued a press release reporting its results of operations for the fiscal third quarter ended July 3, 2026. A copy of the press release is furnished as Exhibit 99.1 to this report.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
 
Exhibit
Number		Description
99.1
Press Release, dated August 6, 2026, announcing results of operations for the fiscal third quarter ended July 3, 2026.
104Cover Page Interactive Data File (embedded within the Inline XBRL document)




SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
MACOM TECHNOLOGY SOLUTIONS HOLDINGS, INC.
Dated: August 6, 2026By:/s/ John F. Kober
John F. Kober
Senior Vice President and Chief Financial Officer



logo.jpg

MACOM Reports Fiscal Third Quarter 2026 Financial Results

LOWELL, MA, August 6, 2026 – 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 3, 2026.
Third Quarter Fiscal Year 2026 GAAP Results
•Revenue was $342.2 million, an increase of 35.8%, compared to $252.1 million in the previous year fiscal third quarter and an increase of 18.4% compared to $289.0 million in the prior fiscal quarter;
•Gross margin was 58.3%, compared to 55.3% in the previous year fiscal third quarter and 56.9% in the prior fiscal quarter;
•Income from operations was $77.1 million, or 22.5% of revenue, compared to income from operations of $37.7 million, or 14.9% of revenue, in the previous year fiscal third quarter and income from operations of $50.8 million, or 17.6% of revenue, in the prior fiscal quarter; and
•Net income was $100.7 million, or $1.28 per diluted share, compared to net income of $36.5 million, or $0.48 per diluted share, in the previous year fiscal third quarter, and net income of $46.3 million, or $0.60 per diluted share, in the prior fiscal quarter.

Third Quarter Fiscal Year 2026 Adjusted Non-GAAP Results
•Adjusted gross margin was 59.7%, compared to 57.6% in the previous year fiscal third quarter and 58.5% in the prior fiscal quarter;
•Adjusted income from operations was $107.7 million, or 31.5% of revenue, compared to adjusted income from operations of $63.5 million, or 25.2% of revenue, in the previous year fiscal third quarter and adjusted income from operations of $80.5 million, or 27.8% of revenue, in the prior fiscal quarter; and
•Adjusted net income was $109.8 million, or $1.40 per diluted share, compared to adjusted net income of $68.2 million, or $0.90 per diluted share, in the previous year fiscal third quarter and adjusted net income of $84.3 million, or $1.09 per diluted share, in the prior fiscal quarter.
Management Commentary
“The MACOM team continues to make excellent progress executing our growth strategy,” said Stephen G. Daly, President and Chief Executive Officer, MACOM.
Business Outlook
For the fiscal fourth quarter ending October 2, 2026, MACOM expects revenue to be in the range of $415 million to $425 million. Adjusted gross margin is expected to be between 60.0% and 61.0%, and adjusted earnings per diluted share is expected to be between $1.97 and $2.03 utilizing an anticipated non-GAAP income tax rate of 3% and 78.9 million fully diluted shares outstanding.
Conference Call
MACOM will host a conference call on Thursday, August 6, 2026, at 8:30 a.m. Eastern Time to discuss its fiscal third quarter 2026 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 contain 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 growth strategy, strengthen our position and drive market share gains and growth, our ability to develop new products and differentiated solutions, achieve market acceptance of those products and solutions and better address certain markets, expand our capabilities and extend our product offerings, including through our fabrication facility execution and continued improvements, our team’s capabilities and technologies and expansion and growth 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 and technology licensing and transfer activities, anticipated demand for our products, including backlog levels and book-to-bill trends, MACOM’s profitability, revenue targets, gross margin and operating margin improvements, end-market-specific revenue growth expectations, prospects and growth opportunities in our three primary markets, including the anticipated timing of production programs and associated revenues, the potential impact to our business of an economic downturn or recession, anticipated financial and business performance improvements, expectations regarding cash flow from operations and capital expenditures, our anticipated non-GAAP income tax rate and the expected impact of recent tax legislation thereon, MACOM’s strategic investment and other plans, including investments and agreements intended to further strengthen our supply chain and support our revenue growth, including the expected benefits of the Company’s recently completed investment in IQE plc, objectives, negotiation and finalization of a definitive agreement with, and receipt of, funding from the Federal and State governments, the estimated financial results for our 2026 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 statements regarding our business outlook, strategic plans and priorities, expectations, anticipated drivers of future revenue growth, our plans for use of our cash and cash equivalents and short-term investments, interest rate and foreign currency risks, our ability to meet working capital requirements, estimates and objectives for future operations, our future results of operations and our financial position; 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 diluted shares, 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 loss on exchange of our convertible notes. This fiscal year 2025 loss is primarily non-cash and we do not believe this amount is reflective of our ongoing operations.
Gains/Losses on Investment Fair Value, Net – includes unrealized gains or losses recognized associated with long-term investments that are recorded at fair value. These gains and losses are driven by changes in the market value of the underlying investments, are generally noncash in nature, and may vary from period to period due to factors unrelated to our operating activities. We believe these amounts are not correlated with our ongoing operations and are not considered by management in making operating decisions.
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 3% for our first three fiscal quarters of fiscal year 2026 and for our fiscal year 2025. Our historical effective income tax rate under GAAP has varied significantly from our non-GAAP income tax rate due primarily to income taxed in foreign jurisdictions at generally lower tax rates, research and development tax credits and acquisition expenses. We believe it is beneficial for management to review our non-GAAP income tax rate on a consistent basis over periods of time. Items such as those noted above may have a significant impact on our GAAP income tax expense and associated effective tax rate over time.
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
Senior 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 EndedNine Months Ended
July 3, 2026April 3, 2026July 4, 2025July 3, 2026July 4, 2025
Revenue$342,237 $288,955 $252,079 $902,804 $706,088 
Cost of revenue142,685 124,522 112,643 387,040 319,387 
Gross profit199,552 164,433 139,436 515,764 386,701 
Operating expenses:
Research and development74,305 68,983 63,380 209,747 181,586 
Selling, general and administrative48,132 44,619 38,396 134,774 115,058 
 Total operating expenses122,437 113,602 101,776 344,521 296,644 
Income from operations77,115 50,831 37,660 171,243 90,057 
Other income (expense):
 Interest income6,676 7,759 7,598 22,425 21,837 
 Interest expense(1,484)(1,667)(1,178)(4,849)(3,723)
Gain on investment fair value41,543 — — 41,543 — 
Loss on extinguishment of debt— — — — (193,098)
 Total other income (expense)46,735 6,092 6,420 59,119 (174,984)
Income (loss) before income taxes123,850 56,923 44,080 230,362 (84,927)
Income tax expense23,142 10,592 7,546 34,556 14,403 
Net income (loss)$100,708 $46,331 $36,534 $195,806 $(99,330)
Net income (loss) per share:
Income (loss) per share - Basic$1.32 $0.62 $0.49 $2.59 $(1.35)
Income (loss) per share - Diluted$1.28 $0.60 $0.48 $2.52 $(1.35)
Weighted average common shares:
Shares - Basic76,331 75,283 74,427 75,479 73,828 
Shares - Diluted78,409 77,555 75,864 77,561 73,828 



MACOM TECHNOLOGY SOLUTIONS HOLDINGS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited and in thousands)
July 3, 2026October 3, 2025
 ASSETS
 Current assets:
 Cash and cash equivalents$89,604 $112,142 
 Short-term investments573,426 673,833 
 Accounts receivable, net179,147 148,646 
 Inventories281,518 237,844 
 Prepaid and other current assets48,578 32,623 
 Total current assets1,172,273 1,205,088 
 Property and equipment, net246,308 230,291 
 Goodwill and intangible assets, net396,963 414,885 
 Deferred income taxes181,993 207,999 
 Long-term investments102,132 — 
 Other long-term assets47,100 45,097 
Total assets$2,146,769 $2,103,360 
 LIABILITIES AND STOCKHOLDERS’ EQUITY
 Current liabilities:
Short-term debt$340,465 $160,946 
Accounts payable72,823 67,588 
Accrued liabilities88,218 96,585 
 Total current liabilities501,506 325,119 
 Finance lease obligations, less current portion29,980 30,504 
 Financing obligation36,558 37,014 
 Long-term debt obligations— 339,630 
 Other long-term liabilities37,950 43,998 
 Total liabilities605,994 776,265 
Stockholders’ equity
1,540,775 1,327,095 
Total liabilities and stockholders’ equity
$2,146,769 $2,103,360 





MACOM TECHNOLOGY SOLUTIONS HOLDINGS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited and in thousands)
Nine Months Ended
July 3, 2026July 4, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)$195,806 $(99,330)
Depreciation and intangible asset amortization46,669 45,646 
Share-based compensation65,873 61,593 
Deferred income taxes26,915 53 
Gain on investment fair value(41,543)— 
Loss on extinguishment of debt— 193,098 
Other adjustments, net(2,619)(1,068)
Accounts receivable(30,502)(22,829)
Inventories(43,816)(20,638)
Accrued and other liabilities(10,140)(4,781)
Change in other operating assets and liabilities(5,093)13,988 
Net cash provided by operating activities201,550 165,732 
CASH FLOWS FROM INVESTING ACTIVITIES:
Sales, purchases and maturities of investments97,391 (171,333)
Purchases of long-term investments(60,588)— 
Purchases of property and equipment(46,889)(22,332)
Purchases of software licenses and licensed technology(8,857)(9,822)
Other investing2,501 (1,210)
Purchase of property under financing arrangement— (28,750)
Acquisition of business, net— (12,684)
Net cash used in investing activities(16,442)(246,131)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of convertible notes(161,151)— 
Payments on finance leases and other financing activities(2,318)(942)
Proceeds from stock options and employee stock purchases11,549 10,209 
Common stock withheld for taxes on employee equity awards(55,575)(42,684)
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)
Net cash (used in) provided by financing activities(207,495)58,796 
Foreign currency effect on cash(151)263 
NET CHANGE IN CASH AND CASH EQUIVALENTS(22,538)(21,340)
CASH AND CASH EQUIVALENTS — Beginning of period112,142 146,806 
CASH AND CASH EQUIVALENTS — End of period$89,604 

$125,466 



MACOM TECHNOLOGY SOLUTIONS HOLDINGS, INC.
RECONCILIATIONS OF GAAP TO NON-GAAP RESULTS
(unaudited and in thousands, except per share data)
Three Months EndedNine Months Ended
July 3, 2026April 3, 2026July 4, 2025July 3, 2026July 4, 2025
 Amount % Revenue Amount % Revenue Amount % Revenue Amount % Revenue Amount % Revenue
Gross profit - GAAP$199,552 58.3 $164,433 56.9 $139,436 55.3 $515,764 57.1 $386,701 54.8 
Amortization expense1,622 0.5 1,623 0.6 3,349 1.3 4,866 0.5 10,024 1.4 
Share-based compensation expense2,803 0.8 2,716 0.9 2,058 0.8 8,313 0.9 7,321 1.0 
Acquisition and integration related costs270 0.1 269 0.1 355 0.1 817 0.1 2,105 0.3 
Adjusted gross profit (Non-GAAP)$204,247 59.7 $169,041 58.5 $145,198 57.6 $529,760 58.7 $406,151 57.5 
Three Months EndedNine Months Ended
July 3, 2026April 3, 2026July 4, 2025July 3, 2026July 4, 2025
 Amount % Revenue Amount % Revenue Amount % Revenue Amount % Revenue Amount % Revenue
Operating expenses - GAAP$122,437 35.8 $113,602 39.3 $101,776 40.4 $344,521 38.2 $296,644 42.0 
Amortization expense(1,713)(0.5)(1,713)(0.6)(1,618)(0.6)(5,275)(0.6)(6,412)(0.9)
Share-based compensation expense(21,708)(6.3)(21,905)(7.6)(17,510)(6.9)(67,448)(7.5)(60,730)(8.6)
Acquisition and integration related costs(2,483)(0.7)(1,395)(0.5)(966)(0.4)(4,177)(0.5)(2,093)(0.3)
Adjusted operating expenses (Non-GAAP)$96,533 28.2 $88,589 30.7 $81,682 32.4 $267,621 29.6 $227,409 32.2 
Three Months EndedNine Months Ended
July 3, 2026April 3, 2026July 4, 2025July 3, 2026July 4, 2025
 Amount % Revenue Amount % Revenue Amount % Revenue Amount % Revenue Amount % Revenue
Income from operations - GAAP$77,115 22.5 $50,831 17.6 $37,660 14.9 $171,243 19.0 $90,057 12.8 
Amortization expense3,335 1.0 3,336 1.2 4,967 2.0 10,141 1.1 16,436 2.3 
Share-based compensation expense24,511 7.2 24,621 8.5 19,568 7.8 75,761 8.4 68,051 9.6 
Acquisition and integration related costs2,753 0.8 1,664 0.6 1,321 0.5 4,994 0.6 4,198 0.6 
Adjusted income from operations (Non-GAAP)$107,714 31.5 $80,452 27.8 $63,516 25.2 $262,139 29.0 $178,742 25.3 
Depreciation expense9,021 2.6 9,013 3.1 6,856 2.7 26,690 3.0 20,399 2.9 
Adjusted EBITDA (Non-GAAP)$116,735 34.1 $89,465 31.0 $70,372 27.9 $288,829 32.0 $199,141 28.2 
Three Months EndedNine Months Ended
July 3, 2026April 3, 2026July 4, 2025July 3, 2026July 4, 2025
 Amount % Revenue Amount % Revenue Amount % Revenue Amount % Revenue Amount % Revenue
Net income (loss) - GAAP$100,708 29.4 $46,331 16.0 $36,534 14.5 $195,806 21.7 $(99,330)(14.1)
Amortization expense3,335 1.0 3,336 1.2 4,967 2.0 10,141 1.1 16,436 2.3 
Share-based compensation expense24,511 7.2 24,621 8.5 19,568 7.8 75,761 8.4 68,051 9.6 
Non-cash interest, net279 0.1 380 0.1 381 0.2 1,040 0.1 1,068 0.2 
Acquisition and integration related costs2,753 0.8 1,664 0.6 1,321 0.5 4,994 0.6 4,198 0.6 
Loss on debt extinguishment— — — — — — — — 193,098 27.3 
Gain on investment fair value, net(41,543)(12.1)— — — — (41,543)(4.6)— — 
Tax effect of non-GAAP adjustments19,746 5.8 7,984 2.8 5,436 2.2 26,133 2.9 8,465 1.2 
Adjusted net income (Non-GAAP)$109,789 32.1 $84,316 29.2 $68,207 27.1 $272,332 30.2 $191,986 27.2 
Three Months EndedNine Months Ended
July 3, 2026April 3, 2026July 4, 2025July 3, 2026July 4, 2025
Net incomeIncome per diluted shareNet incomeIncome per diluted shareNet incomeIncome per diluted shareNet incomeIncome per diluted shareNet incomeIncome per diluted share
Net income (loss) - GAAP diluted$100,708 $1.28 $46,331 $0.60 $36,534 $0.48 $195,806 $2.52 $(99,330)$(1.35)
Adjusted net income (Non-GAAP)$109,789 $1.40 $84,316 $1.09 $68,207 $0.90 $272,332 $3.51 $191,986 $2.54 
Three Months EndedNine Months Ended
July 3, 2026April 3, 2026July 4, 2025July 3, 2026July 4, 2025
SharesSharesSharesSharesShares
Diluted shares - GAAP78,409 77,555 75,864 77,561 73,828 
Incremental shares— — — — 1,902 
Adjusted diluted shares (Non-GAAP)78,409 77,555 75,864 77,561 75,730 


Three Months EndedNine Months Ended
July 3, 2026April 3, 2026July 4, 2025July 3, 2026July 4, 2025
 Amount % Revenue Amount % Revenue Amount % Revenue Amount % Revenue Amount % Revenue
Interest income - GAAP$6,676 2.0 $7,759 2.7 $7,598 3.0 $22,425 2.5 $21,837 3.1 
Interest expense - GAAP(1,484)(0.4)(1,667)(0.6)(1,178)(0.5)(4,849)(0.5)(3,723)(0.5)
Non-cash interest expense279 0.1 380 0.1 381 0.2 1,040 0.1 1,068 0.2 
Adjusted interest income (Non-GAAP)$5,471 1.6 $6,472 2.2 $6,801 2.7 $18,616 2.1 $19,182 2.7 

Source: View Original Filing on SEC EDGAR

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