MACOM Reports Fiscal Third Quarter 2022 Financial Results

Rhea-AI Summary

MACOM Technology Solutions Holdings, Inc. (MTSI) reported a solid fiscal Q3 2022, achieving $172.3 million in revenue, marking a 12.9% year-over-year increase. Gross margin improved to 60.7% from 57.2% last year, with operating income rising to $36.0 million, up from $23.7 million. Net income also grew significantly to $32.2 million, or $0.45 per diluted share. Looking ahead, MACOM estimates Q4 revenue between $175 million and $180 million, with adjusted EPS projected between $0.74 and $0.78.

Positive

• Q3 2022 revenue increased to $172.3 million, up 12.9% YoY.
• Gross margin improved to 60.7%, up from 57.2% YoY.
• Operating income rose to $36.0 million, up from $23.7 million YoY.
• Net income increased to $32.2 million, or $0.45 per diluted share, up from $15.0 million YoY.
• Guidance for Q4 revenue projected between $175 million and $180 million.

Negative

• None.

LOWELL, Mass.--(BUSINESS WIRE)-- 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 1, 2022.

Third Quarter Fiscal Year 2022 GAAP Results

• Revenue was $172.3 million, an increase of 12.9%, compared to $152.6 million in the previous year fiscal third quarter and an increase of 4.3% compared to $165.1 million in the prior fiscal quarter;
• Gross margin was 60.7%, compared to 57.2% in the previous year fiscal third quarter and 59.9% in the prior fiscal quarter;
• Operating income was $36.0 million, compared to operating income of $23.7 million in the previous year fiscal third quarter and operating income of $32.6 million in the prior fiscal quarter; and
• Net income was $32.2 million, or $0.45 per diluted share, compared to net income of $15.0 million, or $0.21 per diluted share, in the previous year fiscal third quarter and net income of $29.6 million, or $0.42 per diluted share, in the prior fiscal quarter.

Third Quarter Fiscal Year 2022 Adjusted Non-GAAP Results

• Adjusted gross margin was 62.2%, compared to 60.3% in the previous year fiscal third quarter and 61.7% in the prior fiscal quarter;
• Adjusted operating income was $54.1 million, or 31.4% of revenue, compared to adjusted operating income of $43.9 million, or 28.7% of revenue, in the previous year fiscal third quarter and adjusted operating income of $50.9 million, or 30.8% of revenue, in the prior fiscal quarter; and
• Adjusted net income was $52.1 million, or $0.73 per diluted share, compared to adjusted net income of $40.3 million, or $0.57 per diluted share, in the previous year fiscal third quarter and adjusted net income of $48.4 million, or $0.68 per diluted share, in the prior fiscal quarter.

Management Commentary
“We remain focused on designing compelling products to meet our customers’ needs,” said Stephen G. Daly, President and Chief Executive Officer.

Business Outlook
For the fiscal fourth quarter ending September 30, 2022, MACOM expects revenue to be in the range of $175 million to $180 million. Adjusted gross margin is expected to be between 61.5% and 63.5%, and adjusted earnings per share is expected to be between $0.74 and $0.78 utilizing an anticipated non-GAAP income tax rate of 3% and 71.4 million fully diluted shares outstanding.

Conference Call
MACOM will host a conference call on Thursday, July 28, 2022 at 8:30 a.m. Eastern Time to discuss its fiscal third quarter 2022 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 Telecommunications, Industrial and Defense and Datacenter 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 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 contains forward-looking statements based on MACOM management’s beliefs and assumptions and on information currently available to our management. These forward-looking statements include, among others, statements about MACOM’s strategic plans and priorities, our ability to continue to improve our earnings and to ensure business continuity and to be successful in our technology, product development and engineering efforts, acceleration, strength and competitiveness of new product introductions and technology portfolio expansion, MACOM’s profitability, prospects and growth opportunities in our three primary markets, our strategy with respect to adjacent markets, development and process qualification timelines, the potential impact to our business of an economic downturn or recession, continued revenue growth and financial and business improvements and the estimated financial results for our 2022 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 any failure to anticipate demand for our products; risks related to any weakening of economic conditions, including as a result of the COVID-19 pandemic; our dependence on a limited number of customers; our ability to develop new products and achieve market acceptance of those products; component shortages or other disruptions in our supply chain, including as a result of the COVID-19 pandemic; 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, adjusted EBITDA, non-GAAP net income, non-GAAP diluted earnings per share, non-GAAP diluted shares, non-GAAP income tax rate, non-GAAP interest expense and non-GAAP free cash flow. 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, warrant liability expense, non-cash interest, loss on debt extinguishment, equity method investment gains and losses 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. The exclusion of these items from our non-GAAP financial results should not be interpreted as implying that these items are non-recurring, infrequent or unusual. 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.

Warrant Liability Expense – is associated with mark-to-market fair value adjustments, which are largely based on the value of our common stock, which may vary from period to period due to factors such as stock price volatility. We believe these amounts are not correlated to future business operations and do not reflect our ongoing operations.

Non-cash Interest, Net – includes amounts associated with the amortization of the discount on our convertible notes and the amortization of certain fees associated with the establishment or amendment of our term loans and 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.

Equity Method Investment Gains and Losses – primarily includes non-cash gains and losses associated with a non-marketable equity investment we had in Ampere Computing Holdings LLC and the $118.2 million cash gain on the sale of this investment in December 2021. We believe these items are not correlated to future business operations and including such amounts does not reflect our ongoing operations.

Loss on Debt Extinguishment – includes the write-off of unamortized deferred financing costs associated with the paydown of our term loans. We believe these non-cash amounts are not correlated to future business operations and do not reflect on our ongoing operations.

Tax Effect of Non-GAAP Adjustments – includes adjustments to arrive at an estimate of our non-GAAP income tax rate associated with our non-GAAP income over a period of time. We determine our non-GAAP income tax rate using applicable rates in taxing jurisdictions and assessing certain factors including our historical and forecast earnings by jurisdiction, discrete items, cash taxes paid in relation to our non-GAAP net income before income taxes and our ability to realize tax assets. We generally assess this non-GAAP income tax rate quarterly and have utilized 5% for fiscal year 2021 and our first fiscal quarter of fiscal year 2022 and 3% for our second and third fiscal quarters of fiscal year 2022. Our historical effective income tax rate under GAAP has varied significantly from our non-GAAP income tax rate due primarily to changes in fair values of the common stock warrant liability, which are excluded from our adjusted net income and are neither deductible nor taxable for tax purposes, gains or losses associated with our equity method investment in a private business, income taxed in foreign jurisdictions at generally lower tax rates, intangible impairments, research and development tax credits and merger 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.

Free Cash Flow – is a calculation that starts with cash flow from operating activities and reduces this amount by our capital expenditures in the applicable period. Management reviews and utilizes this measure for cash flow analysis purposes. We believe competitors and others in the financial industry also utilize this measure for analyzing a company’s cash flow.

Incremental Shares – is the number of potential shares of common stock issuable upon the exercise of stock options, restricted stock, restricted stock units and warrants that were not included in the calculation of our GAAP diluted shares, as the impact would have been anti-dilutive. We believe competitors and others in the financial industry utilize this measure for analysis purposes.

 

MACOM TECHNOLOGY SOLUTIONS HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited and in thousands, except per share data)
	Three Months Ended									Nine Months Ended
	July 1, 2022			April 1, 2022			July 2, 2021			July 1, 2022			July 2, 2021
Revenue	$	172,259		$	165,147		$	152,622		$	497,027		$	451,709
Cost of revenue		67,717			66,158			65,353			199,353			200,065
Gross profit		104,542			98,989			87,269			297,674			251,644
Operating expenses:
Research and development		37,625			35,455			33,610			108,550			105,165
Selling, general and administrative		30,914			30,963			29,985			93,481			91,758
Total operating expenses		68,539			66,418			63,595			202,031			196,923
Income from operations		36,003			32,571			23,674			95,643			54,721
Other (expense) income:
Warrant liability expense		—			—			—			—			(11,130)
Interest expense, net		(845)			(1,389)			(5,526)			(3,928)			(15,111)
Other income (expense), net		13			(55)			(2,661)			114,866			(4,287)
Total other (expense) income		(832)			(1,444)			(8,187)			110,938			(30,528)
Income before income taxes		35,171			31,127			15,487			206,581			24,193
Income tax expense		2,937			1,569			482			5,962			3,349
Net income	$	32,234		$	29,558		$	15,005		$	200,619		$	20,844
Net income per share:
Income per share - Basic	$	0.46		$	0.42		$	0.22		$	2.88		$	0.31
Income per share - Diluted	$	0.45		$	0.42		$	0.21		$	2.82		$	0.30
Weighted average common shares:
Shares - Basic		69,946			69,788			68,732			69,712			68,331
Shares - Diluted		71,060			71,107			70,880			71,130			70,282

 

MACOM TECHNOLOGY SOLUTIONS HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited and in thousands)
	July 1, 2022			October 1, 2021
ASSETS
Current assets:
Cash and cash equivalents	$	132,170		$	156,537
Short-term investments		404,169			188,365
Accounts receivable, net		106,594			84,570
Inventories		110,228			82,699
Prepaid and other current assets		12,344			9,365
Total current assets		765,505			521,536
Property and equipment, net		122,498			120,526
Goodwill and intangible assets, net		371,247			398,925
Deferred income taxes		37,519			39,516
Other long-term assets		36,301			53,642
Total assets	$	1,333,070		$	1,134,145
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current portion of finance lease obligations	$	977		$	958
Accounts payable		42,725			28,712
Accrued liabilities		57,731			63,374
Total current liabilities		101,433			93,044
Finance lease obligations, less current portion		27,292			28,037
Financing obligation		9,544			8,720
Long-term debt obligations		565,509			492,097
Other long-term liabilities		33,652			40,511
Total liabilities		737,430			662,409
Stockholders’ equity		595,640			471,736
Total liabilities and stockholders’ equity	$	1,333,070		$	1,134,145

 

MACOM TECHNOLOGY SOLUTIONS HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited and in thousands)
	Nine Months Ended
	July 1, 2022			July 2, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	200,619		$	20,844
Depreciation and intangible asset amortization		43,052			52,854
Share-based compensation		30,260			26,841
Gain on equity method investment, net		(114,908)			287
Warrant liability expense		—			11,130
Deferred income taxes		2,110			2,200
Other adjustments, net		1,196			11,007
Accounts receivable		(22,024)			(25,735)
Inventories		(27,529)			8,089
Change in other operating assets and liabilities		4,213			85
Net cash provided by operating activities		116,989			107,602
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sale of equity method investment		127,750			—
Purchases of property and equipment		(18,818)			(12,926)
Sales, purchases and maturities of investments		(220,764)			38,970
Proceeds from sale of assets		23			280
Net cash (used in) provided by investing activities		(111,809)			26,324
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from convertible notes, net of issuance costs		—			444,249
Payments of long-term debt		—			(545,321)
Payments on finance leases		(726)			(1,012)
Proceeds from stock option exercises and employee stock purchases		8,052			5,774
Repurchase of common stock - tax withholdings on equity awards		(35,935)			(23,404)
Net cash used in financing activities		(28,609)			(119,714)
Foreign currency effect on cash		(938)			481
NET CHANGE IN CASH AND CASH EQUIVALENTS		(24,367)			14,693
CASH AND CASH EQUIVALENTS — Beginning of period		156,537			129,441
CASH AND CASH EQUIVALENTS — End of period	$	132,170		$	144,134

 

MACOM TECHNOLOGY SOLUTIONS HOLDINGS, INC. RECONCILIATIONS OF GAAP TO NON-GAAP RESULTS (unaudited and in thousands, except per share data)
	Three Months Ended									Nine Months Ended
	July 1, 2022			April 1, 2022			July 2, 2021			July 1, 2022			July 2, 2021
	Amount		% Revenue	Amount		% Revenue	Amount		% Revenue	Amount		% Revenue	Amount		% Revenue
Gross profit - GAAP	$	104,542	60.7	$	98,989	59.9	$	87,269	57.2	$	297,674	59.9	$	251,644	55.7
Amortization expense		1,778	1.0		1,778	1.1		3,806	2.5		6,061	1.2		11,490	2.5
Share-based compensation expense		887	0.5		1,143	0.7		927	0.6		3,431	0.7		3,436	0.8
Adjusted gross profit (Non-GAAP)	$	107,207	62.2	$	101,910	61.7	$	92,002	60.3	$	307,166	61.8	$	266,570	59.0

	Three Months Ended									Nine Months Ended
	July 1, 2022			April 1, 2022			July 2, 2021			July 1, 2022			July 2, 2021
	Amount		% Revenue	Amount		% Revenue	Amount		% Revenue	Amount		% Revenue	Amount		% Revenue
Operating expenses - GAAP	$	68,539	39.8	$	66,418	40.2	$	63,595	41.7	$	202,031	40.6	$	196,923	43.6
Amortization expense		(6,276)	(3.6)		(6,277)	(3.8)		(7,601)	(5.0)		(19,334)	(3.9)		(23,317)	(5.2)
Share-based compensation expense		(9,167)	(5.3)		(9,125)	(5.5)		(7,854)	(5.1)		(29,584)	(6.0)		(30,500)	(6.8)
Adjusted operating expenses (Non-GAAP)	$	53,096	30.8	$	51,016	30.9	$	48,140	31.5	$	153,113	30.8	$	143,106	31.7

	Three Months Ended									Nine Months Ended
	July 1, 2022			April 1, 2022			July 2, 2021			July 1, 2022			July 2, 2021
	Amount		% Revenue	Amount		% Revenue	Amount		% Revenue	Amount		% Revenue	Amount		% Revenue
Income from operations - GAAP	$	36,003	20.9	$	32,571	19.7	$	23,674	15.5	$	95,643	19.2	$	54,721	12.1
Amortization expense		8,054	4.7		8,054	4.9		11,407	7.5		25,395	5.1		34,807	7.7
Share-based compensation expense		10,054	5.8		10,268	6.2		8,781	5.8		33,015	6.6		33,936	7.5
Adjusted income from operations (Non-GAAP)	$	54,111	31.4	$	50,893	30.8	$	43,862	28.7	$	154,053	31.0	$	123,464	27.3
Depreciation expense		5,918	3.4		5,792	3.5		5,834	3.8		17,657	3.6		18,047	4.0
Adjusted EBITDA (Non-GAAP)	$	60,029	34.8	$	56,685	34.3	$	49,696	32.6	$	171,710	34.5	$	141,511	31.3

	Three Months Ended									Nine Months Ended
	July 1, 2022			April 1, 2022			July 2, 2021			July 1, 2022			July 2, 2021
	Amount		% Revenue	Amount		% Revenue	Amount		% Revenue	Amount		% Revenue	Amount		% Revenue
Net income - GAAP	$	32,234	18.7	$	29,558	17.9	$	15,005	9.8	$	200,619	40.4	$	20,844	4.6
Amortization expense		8,054	4.7		8,054	4.9		11,407	7.5		25,395	5.1		34,807	7.7
Share-based compensation expense		10,054	5.8		10,268	6.2		8,781	5.8		33,015	6.6		33,936	7.5
Warrant liability expense		—	—		—	—		—	—		—	—		11,130	2.5
Non-cash interest, net		412	0.2		411	0.2		4,070	2.7		1,281	0.3		5,467	1.2
Equity method investment loss (gain), net		—	—		—	—		2,025	1.3		(114,908)	(23.1)		287	0.1
Loss on debt extinguishment		—	—		—	—		647	0.4		—	—		4,488	1.0
Tax effect of non-GAAP adjustments		1,326	0.8		73	—		(1,639)	(1.1)		464	0.1		(2,367)	(0.5)
Adjusted net income (Non-GAAP)	$	52,080	30.2	$	48,364	29.3	$	40,296	26.4	$	145,866	29.3	$	108,592	24.0

	Three Months Ended												Nine Months Ended
	July 1, 2022				April 1, 2022				July 2, 2021				July 1, 2022				July 2, 2021
	Net income		Income per diluted share		Net income		Income per diluted share		Net income		Income per diluted share		Net income		Income per diluted share		Net income		Income per diluted share
Net income - GAAP diluted	$	32,234	$	0.45	$	29,558	$	0.42	$	15,005	$	0.21	$	200,619	$	2.82	$	20,844	$	0.30
Adjusted net income (Non-GAAP)	$	52,080	$	0.73	$	48,364	$	0.68	$	40,296	$	0.57	$	145,866	$	2.05	$	108,592	$	1.54

	Three Months Ended						Nine Months Ended
	July 1, 2022		April 1, 2022		July 2, 2021		July 1, 2022		July 2, 2021
	Shares		Shares		Shares		Shares		Shares
Diluted shares - GAAP	71,060		71,107		70,880		71,130		70,282
Incremental shares	—		—		—		—		117
Adjusted diluted shares (Non-GAAP)	71,060		71,107		70,880		71,130		70,399

	Three Months Ended									Nine Months Ended
	July 1, 2022			April 1, 2022			July 2, 2021			July 1, 2022			July 2, 2021
	Amount		% Revenue	Amount		% Revenue	Amount		% Revenue	Amount		% Revenue	Amount		% Revenue
Interest expense, net - GAAP	$	845	0.5	$	1,389	0.8	$	5,526	3.6	$	3,928	0.8	$	15,111	3.3
Non-cash interest expense		(412)	(0.2)		(412)	(0.2)		(4,070)	(2.7)		(1,281)	(0.3)		(5,467)	(1.2)
Adjusted interest expense (Non-GAAP)	$	433	0.3	$	977	0.6	$	1,456	1.0	$	2,647	0.5	$	9,644	2.1

	Three Months Ended									Nine Months Ended
	July 1, 2022			April 1, 2022			July 2, 2021			July 1, 2022			July 2, 2021
	Amount		% Revenue	Amount		% Revenue	Amount		% Revenue	Amount		% Revenue	Amount		% Revenue
Cash flow from operations	$	40,392	23.4	$	42,493	25.7	$	44,881	29.4	$	116,989	23.5	$	107,602	23.8
Capital expenditures		(6,634)	(3.9)		(7,089)	(4.3)		(5,598)	(3.7)		(18,818)	(3.8)		(12,926)	(2.9)
Free cash flow (Non-GAAP)	$	33,758	19.6	$	35,404	21.4	$	39,283	25.7	$	98,171	19.8	$	94,676	21.0
Free cash flow as a percentage of Adjusted net income (Non-GAAP)		64.8 %			73.2 %			97.5 %			67.3 %			87.2 %

RECONCILIATION OF DEBT ACTIVITY (unaudited and in thousands)
	Long-term debt obligations
Balance as of October 1, 2021	$	492,097
Reclassification of convertible notes from stockholders' equity		72,177
Other activity		1,235
Balance as of July 1, 2022	$	565,509

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20220728005141/en/

MACOM Technology Solutions Holdings, Inc.

Stephen Ferranti

Vice President, Strategic Initiatives and Investor Relations

P: 978-656-2977

E: stephen.ferranti@macom.com

Source: MACOM Technology Solutions Holdings, Inc.

FAQ

What were MACOM's Q3 2022 financial results?

MACOM reported Q3 2022 revenue of $172.3 million, a net income of $32.2 million, and an operating income of $36.0 million.

What is the expected revenue for MACOM in Q4 2022?

MACOM expects Q4 2022 revenue to be in the range of $175 million to $180 million.

What was MACOM's gross margin for Q3 2022?

MACOM's gross margin for Q3 2022 was 60.7%, an increase from 57.2% in the previous year.

What are the adjusted earnings per share forecasts for MACOM in Q4 2022?

For Q4 2022, MACOM projects adjusted earnings per share to be between $0.74 and $0.78.