Silicom raises 2026 revenue outlook to $96–98M
Fourth-quarter 2026 revenue is expected at $27 - $28 million, with full-year projections raised to $96 - $98 million.
Sentiment and the balance of points
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Rhea-AI Filing Summary
Silicom Ltd. (SILC) reported third-quarter 2026 revenue of $26.7 million, up 71% from $15.6 million a year earlier. GAAP net loss was $0.3 million, or $0.06 per ordinary share, compared with a $2.8 million loss, or $0.49 per share. On a non-GAAP basis, Silicom recorded net income of $0.3 million, or $0.04 per share, versus a $2.1 million loss, or $0.36 per share.
For the first nine months, revenue rose 55% to $69.6 million from $45.0 million; GAAP net loss was $4.8 million compared with $8.9 million, and non-GAAP net loss was $2.1 million versus $6.1 million. Fourth-quarter revenue is expected to be $27 - $28 million, and full-year 2026 revenue projections were raised once again to $96 - $98 million. Silicom added two Design Wins in Q3, bringing its year-to-date total to eight, above the low end of its full-year guidance and on track to meet or exceed the high end. Non-GAAP measures exclude compensation expenses for options and RSUs and lease-liability financial expenses (income); the company says they should be evaluated with, not substituted for, GAAP measures.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointQ3 revenue increased 71% to $26.7 million year over year.
- Moderate pointQ3 non-GAAP net income was $0.3 million, versus a $2.1 million loss.
- Moderate pointNine-month GAAP net loss improved 46% to $4.8 million.
- Minor pointNine-month revenue rose 55% to $69.6 million.
Negative
- None.
Filing Explained
Silicom incorporated its GAAP balance-sheet and statement-of-operations tables into all effective Securities Act registration statements.
Form 6-K is a foreign private issuer’s interim report for furnishing material information published in its home market. Silicom says it issued its third-quarter 2026 results release on October 29 and incorporated the GAAP balance-sheet and statement-of-operations tables into all effective Securities Act registration statements.
Key Figures
Key Terms
Design Wins technical
non-GAAP financial measures financial
RSUs financial
lease liabilities - Financial expenses (income) financial
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much revenue did SILC report for Q3 2026?
Was SILC profitable in Q3 2026?
What is SILC's revenue guidance for Q4 and full-year 2026?
How many Design Wins did SILC add in Q3 2026?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16
OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of October, 2026
Commission File Number 000-23288
SILICOM LTD.
(Translation of Registrant’s name into English)
14 Atir Yeda St., P.O.Box 2164, Kfar-Sava 4464323, Israel
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
| Form 20-F ☒ Form 40-F ☐ |
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):___
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):___
On October 29, 2026, the Registrant issued a press release announcing the Registrant's third quarter 2026 financial results. Attached hereto are the following exhibits:
Exhibit 99.1 Press Release
The US GAAP information set forth on the Consolidated Balance Sheet and Consolidated Statement of Operations in the financial tables on Pages 5 and 6 of Exhibit 99.1 is hereby incorporated by reference into all effective registration statements filed by the registrant under the Securities Act of 1933.
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, thereunto duly authorized.
| SILICOM LTD. (Registrant) |
|||
| Date: October 29, 2026 | By | /s/ Eran Gilad | |
| Eran Gilad | |||
| Chief Financial Officer | |||
Exhibit 99.1
FOR IMMEDIATE RELEASE
EARNINGS RELEASE
Silicom Reports
Q3 2026 Results
- Return to Non-GAAP Profitability ahead of initial expectations -
- 71% revenue growth backed by strong Design Win momentum -
KFAR SAVA, Israel, October 29, 2026 - Silicom Ltd. (NASDAQ: SILC), an industry-leading provider of high-performance server/appliance networking solutions, today reported its financial results for the third quarter ended September 30, 2026.
Financial Results
Third quarter: Silicom’s revenues for the third quarter of 2026 reached $26.7 million, up 71% from $15.6 million for the third quarter of 2025.
On a GAAP basis, the Company recorded a net loss of $0.3 million, or $0.06 per ordinary share (basic and diluted), compared with a net loss of $2.8 million, or $0.49 per ordinary share (basic and diluted), in the third quarter of 2025, an improvement of 88%.
On a non-GAAP basis (as described and reconciled below), the Company recorded net income of $0.3 million, or $0.04 per ordinary share (basic and diluted), compared with a net loss of $2.1 million, or a net loss of $0.36 per ordinary share (basic and diluted), for the third quarter of 2025.
First Nine Months: Silicom’s revenues for the first nine months of 2026 rose by 55% to $69.6 million, compared with $45.0 million in the first nine months of 2025.
On a GAAP basis, net loss for the period totalled $4.8 million, or $0.84 per ordinary share (basic and diluted), a 46% improvement compared with $8.9 million, or $1.57 per ordinary share (basic and diluted), for the first nine months of 2025.
On a non-GAAP basis (as described and reconciled below), net loss for the period totalled $2.1 million, or $0.37 per ordinary share (basic and diluted), a 66% improvement compared with a net loss of $6.1 million, or $1.08 per ordinary share (basic and diluted), for the first nine months of 2025.
Guidance
Based on highly predictable recurring revenues from the company’s Design Win platform, revenues for the fourth quarter are expected to reach $27 - $28 million, representing 66% year-over-year growth at the upper end of the guidance. As a result, full-year 2026 revenue projections are being raised once again to $96 - $98 million, representing 57% year-over-year growth.
Comments of Management
Liron Eizenman, Silicom’s President and CEO, commented, "We are pleased to report outstanding third quarter revenues of $26.7 million, a 71% increase over Q3 2025. Driven by strong execution and the significant leverage inherent in our business model, we returned to non-GAAP profitability well ahead of our initial expectations. These results reinforce our confidence in the strength of our target markets, the effectiveness of our execution, and the soundness of our strategic plan.”
Mr. Eizenman continued, “Our growth continues to be fueled by strong Design Win momentum. The Design Wins we secure today drive growth for years to come, making them one of the most important indicators of our future performance. The two new Design Wins we added this quarter bring our year-to-date total to eight, already exceeding the low end of our full-year guidance while positioning us on track to meet or exceed the high end.
“Our pipeline remains deep and diverse, with opportunities across our entire product portfolio - Edge systems, Smart NICs and FPGA - as well as AI Inference, White Box Switches, and Post-Quantum Cryptography. We are particularly encouraged by the success of our strategic plan, which is giving us the means to invest both in our core business and in the significant long-term potential upside of AI Inference, a natural extension of our core expertise, capabilities, customer base and IP roots.”
Mr. Eizenman concluded, “Taken together, these achievements demonstrate clearly that Silicom has passed an inflection point. Customer demand continues to expand, growth momentum continues to build, and our return to profitability marks a significant milestone. With accelerating revenues and our business fundamentals strengthening, we expect to close 2026 on a high note, carrying this exceptional momentum into a highly promising 2027.”
***
Conference Call Details
Silicom’s Management will host an interactive conference today, October 29th, at 9am Eastern Time (6am Pacific Time,
3pm Israel Time) to review and discuss the results.
To participate, investors may either listen via a webcast link hosted on Silicom’s website or via the dial-in. The link is under the investor relations’ webcast section of Silicom’s website at https://www.silicom-usa.com/webcasts/
For those that wish to dial in via telephone, one of the following teleconferencing numbers may be used:
US: 1 866 860 9642
ISRAEL: 03 918 0609
INTERNATIONAL: +972 3 918 0609
At: 9:00am Eastern Time, 6:00am Pacific Time, 3:00pm Israel Time
It is advised to connect to the conference call a few minutes before the start.
For those unable to listen to the live call, a replay of the call will be available for three months from the day after the call under the above-mentioned webcast section of Silicom’s website.
***
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About Silicom
Silicom Ltd. is an industry-leading provider of high-performance networking and data infrastructure solutions. Designed to optimize performance and efficiency in Cloud, Data Center and Edge environments, Silicom’s solutions increase throughput and minimize latency, serving as the infrastructure backbone for today’s most critical technologies. Our innovations empower high-demand workloads across Artificial Intelligence (AI) inference, SD-WAN, SASE, cyber security, fabric switching, NFV, and more.
Our comprehensive portfolio, including high-speed server adapters, advanced hardware offloading and acceleration engines, AI NICs, FPGA-based smart cards, Post Quantum Cryptography (PQC) hardware accelerators, white label switches and Edge CPEs, is used by Tier-1 customers throughout the world, including cloud players, service providers and OEMs, to enable their networks to scale efficiently. With engineering excellence, a strong financial position and a legacy of over 400 active Design Wins, Silicom serves as the "go-to" connectivity and performance partner for technology leaders around the globe, and drives the next generation of infrastructure.
For more information, please visit: www.silicom.co.il
Statements in this press release which are not historical data are forward-looking statements within the meaning of applicable securities laws which involve known and unknown risks, uncertainties, or other factors not under the company's control, which may cause actual results, performance, or achievements of the company to be materially different from the results, performance, or other expectations implied by these forward-looking statements.
For example, when the Company discusses its revenue outlook or guidance for future periods, growth opportunities, market demand for its products and solutions, expected customer deployments, the scalability of its business model, operating performance, strategic partnerships, technology leadership, or industry trends affecting cloud infrastructure, artificial intelligence workloads, networking acceleration technologies or telecommunications markets, it is using forward-looking statements.
Additional factors include, but are not limited to, Silicom’s dependence for substantial revenue growth on a limited number of customers, industry trends affecting networking and data center infrastructure, including the migration to cloud architectures, disaggregation of networking systems and the separation of hardware and software solutions; the pace of adoption of emerging technologies such as artificial intelligence inference infrastructure; the timing and extent of market adoption of Silicom’s new products and of new Design Wins achieved by Silicom; fluctuations in customer purchasing cycles and the timing of customer deployments; protection of intellectual property, changes in exchange rates; and the wars in Gaza, Lebanon and with Iran, as well as the war in the Ukraine, and existing and potential disruptions to global shipping routes such as the Straits of Hormuz and the Red Sea.
Further information about the company’s businesses, including information about factors that could materially affect Silicom’s results of operations and financial condition, are discussed in our Annual Report on Form 20-F and other documents filed by Silicom and that may be subsequently filed by the company from time to time with the SEC. These forward-looking statements can generally be identified as such because the context of the statement will include words such as “expect,” “should,” “believe,” “anticipate” or words of similar import. Similarly, statements that describe future plans, objectives or goals are also forward-looking statements. In light of significant risks and uncertainties inherent in forward-looking statements, the inclusion of such statements should not be regarded as a representation by Silicom that it will achieve such forward-looking statements. The company disclaims any duty to update such statements, whether as a result of new information, future events, or otherwise.
3
Non-GAAP Financial Measures
This release, including the financial tables below, presents other financial information that may be considered "non-GAAP financial measures" under Regulation G and related reporting requirements promulgated by the Securities and Exchange Commission (the "SEC") as they apply to our company. These non-GAAP financial measures exclude compensation expenses in respect of options and RSUs granted to directors, officers and employees, as well as lease liabilities - financial expenses (income). Non-GAAP financial measures should be evaluated in conjunction with, and are not a substitute for, GAAP financial measures. The tables also present the GAAP financial measures, which are most comparable to the non-GAAP financial measures as well as reconciliation between the non-GAAP financial measures and the most comparable GAAP financial measures. The non-GAAP financial information presented herein should not be considered in isolation from or as a substitute for operating income (loss), net income (loss) or per share data prepared in accordance with GAAP.
|
Company Contact: Eran Gilad, CFO Silicom Ltd. Tel: +972-9-764-4555 E-mail: erang@silicom.co.il |
Investor Relations Contact: Ehud Helft EK Global Investor Relations Tel: +1 212 378 8040 E-mail: silicom@ekgir.com |
-- FINANCIAL TABLES FOLLOW –
4
Silicom Ltd. Consolidated Balance Sheets
(US$ thousands)
| September 30, | December 31, | |||||||
| 2026 | 2025 | |||||||
| (Unaudited) | (Audited) | |||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 13,741 | $ | 35,156 | ||||
| Short-term bank deposits | - | 6,000 | ||||||
| Marketable securities | 13,898 | 6,958 | ||||||
| Accounts receivables: Trade, net | 16,906 | 9,194 | ||||||
| Accounts receivables: Other | 4,784 | 3,155 | ||||||
| Inventories | 72,791 | 52,650 | ||||||
| Total current assets | 122,120 | 113,113 | ||||||
| Marketable securities | 17,317 | 25,518 | ||||||
| Assets held for employees’ severance benefits | 1,744 | 1,670 | ||||||
| Deferred tax assets | 175 | - | ||||||
| Property, plant and equipment, net | 3,802 | 3,140 | ||||||
| Intangible assets, net | 5,060 | 2,569 | ||||||
| Right of Use | 5,915 | 6,147 | ||||||
| Total assets | $ | 156,133 | $ | 152,157 | ||||
| Liabilities and shareholders' equity | ||||||||
| Current liabilities | ||||||||
| Trade accounts payable | $ | 19,871 | $ | 11,116 | ||||
| Other accounts payable and accrued expenses | 10,472 | 14,116 | ||||||
| Lease Liabilities | 2,038 | 2,019 | ||||||
| Total current liabilities | 32,381 | 27,251 | ||||||
| Lease Liabilities | 3,960 | 4,252 | ||||||
| Liability for employees’ severance benefits | 3,244 | 3,049 | ||||||
| Deferred tax liabilities | - | 116 | ||||||
| Total liabilities | 39,585 | 34,668 | ||||||
| Shareholders' equity | ||||||||
| Ordinary shares and additional paid-in capital | 80,501 | 76,647 | ||||||
| Treasury shares | (55,171 | ) | (55,171 | ) | ||||
| Retained earnings | 91,218 | 96,013 | ||||||
| Total shareholders' equity | 116,548 | 117,489 | ||||||
| Total liabilities and shareholders' equity | $ | 156,133 | $ | 152,157 | ||||
5
Silicom Ltd. Consolidated Statements of Operations
(Unaudited, US$ thousands, except for share and per share data)
| Three-month period | Nine-month period | |||||||||||||||
| ended September 30, | ended September 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Sales | $ | 26,720 | $ | 15,614 | $ | 69,624 | $ | 45,018 | ||||||||
| Cost of sales | 18,699 | 10,717 | 48,791 | 31,131 | ||||||||||||
| Gross profit | 8,021 | 4,897 | 20,833 | 13,887 | ||||||||||||
| Research and development expenses | 5,547 | 4,998 | 16,559 | 15,033 | ||||||||||||
| Selling and marketing expenses | 1,947 | 1,791 | 5,808 | 4,796 | ||||||||||||
| General and administrative expenses | 1,375 | 1,188 | 4,115 | 3,509 | ||||||||||||
| Total operating expenses | 8,869 | 7,977 | 26,482 | 23,338 | ||||||||||||
| Operating income (loss) | (848 | ) | (3,080 | ) | (5,649 | ) | (9,451 | ) | ||||||||
| Financial income (expenses), net | 643 | 514 | 1,201 | 1,340 | ||||||||||||
| Income (loss) before income taxes | (205 | ) | (2,566 | ) | (4,448 | ) | (8,111 | ) | ||||||||
| Income taxes | 136 | 236 | 347 | 834 | ||||||||||||
| Net income (loss) | $ | (341 | ) | $ | (2,802 | ) | $ | (4,795 | ) | $ | (8,945 | ) | ||||
| Basic and diluted income (loss) per ordinary share (US$) | $ | (0.06 | ) | $ | (0.49 | ) | $ | (0.84 | ) | $ | (1.57 | ) | ||||
| Weighted average number of ordinary shares used to compute basic and diluted income (loss) per share (in thousands) | 5,784 | 5,706 | 5,735 | 5,707 | ||||||||||||
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Silicom Ltd. Reconciliation of Non-GAAP Financial Results
(Unaudited, US$ thousands, except for share and per share data)
| Three-month period | Nine-month period | |||||||||||||||
| ended September 30, | ended September 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| GAAP gross profit | $ | 8,021 | $ | 4,897 | $ | 20,833 | $ | 13,887 | ||||||||
| (1) Share-based compensation (*) | 67 | 64 | 225 | 215 | ||||||||||||
| Non-GAAP gross profit | $ | 8,088 | $ | 4,961 | $ | 21,058 | $ | 14,102 | ||||||||
| GAAP operating income (loss) | $ | (848 | ) | $ | (3,080 | ) | $ | (5,649 | ) | $ | (9,451 | ) | ||||
| Gross profit adjustments | 67 | 64 | 225 | 215 | ||||||||||||
| (1) Share-based compensation (*) | 801 | 584 | 2,448 | 2,049 | ||||||||||||
| Non-GAAP operating income (loss) | $ | 20 | $ | (2,432 | ) | $ | (2,976 | ) | $ | (7,187 | ) | |||||
| GAAP net income (loss) | $ | (341 | ) | $ | (2,802 | ) | $ | (4,795 | ) | $ | (8,945 | ) | ||||
| Operating income (loss) adjustments | 868 | 648 | 2,673 | 2,264 | ||||||||||||
| (2) Lease liabilities - Financial expenses (income) | (270 | ) | 79 | 25 | 534 | |||||||||||
| Non-GAAP net income (loss) | $ | 257 | $ | (2,075 | ) | $ | (2,097 | ) | $ | (6,147 | ) | |||||
| GAAP net income (loss) | $ | (341 | ) | $ | (2,802 | ) | $ | (4,795 | ) | $ | (8,945 | ) | ||||
| Adjustments for Non-GAAP Cost of sales | 67 | 64 | 225 | 215 | ||||||||||||
| Adjustments for Non-GAAP Research and development expenses | 391 | 245 | 1,233 | 939 | ||||||||||||
| Adjustments for Non-GAAP Selling and marketing expenses | 231 | 207 | 688 | 568 | ||||||||||||
| Adjustments for Non-GAAP General and administrative expenses | 179 | 132 | 527 | 542 | ||||||||||||
| Adjustments for Non-GAAP Financial income (loss), net | (270 | ) | 79 | 25 | 534 | |||||||||||
| Non-GAAP net income (loss) | $ | 257 | $ | (2,075 | ) | $ | (2,097 | ) | $ | (6,147 | ) | |||||
| GAAP basic income (loss) per ordinary share (US$) | $ | (0.06 | ) | $ | (0.49 | ) | $ | (0.84 | ) | $ | (1.57 | ) | ||||
| (1) Share-based compensation (*) | 0.15 | 0.12 | 0.47 | 0.40 | ||||||||||||
| (2) Lease liabilities - Financial expenses (income) | (0.05 | ) | 0.01 | - | 0.09 | |||||||||||
| Non-GAAP basic income (loss) per ordinary share (US$) | $ | 0.04 | $ | (0.36 | ) | $ | (0.37 | ) | $ | (1.08 | ) | |||||
| GAAP diluted income (loss) per ordinary share (US$) | $ | (0.06 | ) | $ | (0.49 | ) | $ | (0.84 | ) | $ | (1.57 | ) | ||||
| (1) Share-based compensation (*) | 0.14 | 0.12 | 0.47 | 0.40 | ||||||||||||
| (2) Lease liabilities - Financial expenses (income) | (0.04 | ) | 0.01 | - | 0.09 | |||||||||||
| Non-GAAP diluted income (loss) per ordinary share (US$) | $ | 0.04 | $ | (0.36 | ) | $ | (0.37 | ) | $ | (1.08 | ) | |||||
(*) Adjustments related to share-based compensation expenses according to ASC topic 718 (SFAS 123 (R))
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