Silicon Labs Reports Fourth Quarter 2024 Results
Silicon Labs (SLAB) reported Q4 2024 financial results with revenue of $166 million. The company's Industrial & Commercial revenue was $89 million (down 8% sequentially), while Home & Life revenue reached $78 million (up 11% sequentially).
Key financial metrics include a GAAP gross margin of 54.3%, operating expenses of $119 million, and a GAAP diluted loss per share of $(0.73). On a non-GAAP basis, the company reported a gross margin of 54.6%, operating expenses of $98 million, and a diluted loss per share of $(0.11).
Looking forward, Silicon Labs provided Q1 2025 guidance with expected revenue between $170-185 million, projecting sequential growth. The company forecasts GAAP gross margin between 54-56% and non-GAAP operating expenses of $103-105 million.
Silicon Labs (SLAB) ha riportato i risultati finanziari del quarto trimestre del 2024 con un fatturato di $166 milioni. I ricavi dell'Industriale e Commerciale sono stati di $89 milioni (in calo dell'8% rispetto al trimestre precedente), mentre i ricavi per Casa e Vita hanno raggiunto i $78 milioni (in aumento del 11% rispetto al trimestre precedente).
I principali indicatori finanziari includono un margine lordo GAAP del 54,3%, spese operative di $119 milioni e una perdita diluita per azione GAAP di $(0,73). Su base non-GAAP, l'azienda ha riportato un margine lordo del 54,6%, spese operative di $98 milioni e una perdita diluita per azione di $(0,11).
Guardando avanti, Silicon Labs ha fornito una guida per il primo trimestre del 2025 prevedendo un fatturato compreso tra $170-185 milioni, proiettando una crescita sequenziale. L'azienda prevede un margine lordo GAAP compreso tra il 54% e il 56% e spese operative non-GAAP di $103-105 milioni.
Silicon Labs (SLAB) informó sobre los resultados financieros del cuarto trimestre de 2024 con ingresos de $166 millones. Los ingresos de la división Industrial y Comercial fueron de $89 millones (una disminución del 8% en comparación con el trimestre anterior), mientras que los ingresos de Hogar y Vida alcanzaron los $78 millones (un aumento del 11% en comparación con el trimestre anterior).
Las métricas financieras clave incluyen un margen bruto GAAP del 54,3%, gastos operativos de $119 millones, y una pérdida diluida por acción GAAP de $(0,73). En términos no GAAP, la empresa reportó un margen bruto del 54,6%, gastos operativos de $98 millones y una pérdida diluida por acción de $(0,11).
Mirando hacia adelante, Silicon Labs proporcionó guías para el primer trimestre de 2025, con ingresos esperados entre $170-185 millones, proyectando crecimiento secuencial. La empresa prevé un margen bruto GAAP entre el 54% y el 56% y gastos operativos no GAAP de $103-105 millones.
실리콘랩스 (SLAB)는 2024년 4분기 재무 결과를 발표하며 매출이 $166 백만에 달했다고 보고했습니다. 회사의 산업 및 상업 부문 매출은 $89 백만 (전분기 대비 8% 감소), 반면 가정 및 생활 부문 매출은 $78 백만 (전분기 대비 11% 증가)에 도달했습니다.
주요 재무 지표로는 GAAP 총수익률 54.3%, 운영비 119 백만 달러 및 GAAP 기준 희석 주당손실 $(0.73)입니다. 비GAAP 기준으로는 총수익률 54.6%, 운영비 98 백만 달러 및 희석 주당손실 $(0.11)로 보고되었습니다.
앞을 바라보며 실리콘랩스는 2025년 1분기 가이던스를 제공하며 예상 매출은 $170-185 백만 사이로, 순차적 성장을 예측하고 있습니다. 회사는 GAAP 총수익률이 54%-56% 사이, 비GAAP 기준 운영비는 $103-105 백만으로 예상하고 있습니다.
Silicon Labs (SLAB) a présenté les résultats financiers du quatrième trimestre 2024, avec un chiffre d'affaires de $166 millions. Les revenus du secteur Industriel et Commercial s'élevaient à 89 millions de dollars (en baisse de 8 % par rapport au trimestre précédent), tandis que les revenus du secteur Maison et Vie ont atteint 78 millions de dollars (en hausse de 11 % par rapport au trimestre précédent).
Les principaux indicateurs financiers comprennent une marge brute GAAP de 54,3 %, des charges d'exploitation de 119 millions de dollars et une perte diluée par action GAAP de $(0,73). Sur une base non-GAAP, l'entreprise a déclaré une marge brute de 54,6 %, des charges d'exploitation de 98 millions de dollars et une perte diluée par action de $(0,11).
En perspective, Silicon Labs a fourni des prévisions pour le premier trimestre 2025, avec un chiffre d'affaires attendu entre $170-185 millions, projetant une croissance séquentielle. L'entreprise prévoit une marge brute GAAP comprise entre 54 % et 56 % et des charges d'exploitation non-GAAP de 103 à 105 millions de dollars.
Silicon Labs (SLAB) hat die finanziellen Ergebnisse für das vierte Quartal 2024 bekannt gegeben, mit einem Umsatz von $166 Millionen. Der Umsatz im Bereich Industrie und Gewerbe betrug $89 Millionen (ein Rückgang von 8 % im Vergleich zum Vorquartal), während der Umsatz im Bereich Haus und Leben $78 Millionen erreichte (ein Anstieg von 11 % im Vergleich zum Vorquartal).
Die wichtigsten finanziellen Kennzahlen umfassen eine GAAP-Bruttomarge von 54,3 %, Betriebskosten von $119 Millionen und einen GAAP-diluted Verlust pro Aktie von $(0,73). Auf nicht-GAAP-Basis meldete das Unternehmen eine Bruttomarge von 54,6 %, Betriebskosten von $98 Millionen und einen diluierten Verlust pro Aktie von $(0,11).
Blick in die Zukunft: Silicon Labs gab eine Prognose für das erste Quartal 2025 mit einem erwarteten Umsatz zwischen $170-185 Millionen, was auf ein sequenzielles Wachstum hinweist. Das Unternehmen prognostiziert eine GAAP-Bruttomarge zwischen 54 % und 56 % sowie nicht-GAAP-Betriebskosten von $103-105 Millionen.
- Revenue nearly doubled compared to Q4 2023
- Home & Life segment revenue increased 11% sequentially
- Q1 2025 guidance projects sequential revenue growth to $170-185 million
- Design wins expected to ramp into production throughout 2025
- Industrial & Commercial revenue declined 8% sequentially
- GAAP operating loss of $29 million in Q4
- Non-GAAP operating loss of $7 million in Q4
- Negative GAAP EPS of $(0.73) and non-GAAP EPS of $(0.11)
Insights
Silicon Labs' Q4 results present a complex picture of recovery and ongoing challenges in the wireless IoT space. The nearly doubled year-over-year revenue suggests a significant market rebound, though sequential performance reveals nuanced dynamics.
The divergence between segments is particularly telling: Industrial & Commercial's
Operating metrics deserve careful scrutiny. The non-GAAP operating loss of
The Q1 2025 guidance of
Wireless IoT leader delivers in-line fourth-quarter results and guides to sequential growth in first quarter
"The Silicon Labs team executed well to close out 2024, with fourth quarter revenue nearly doubling from the same quarter one year ago," said Matt Johnson, President and Chief Executive Officer at Silicon Labs. "Looking ahead, we expect sequential revenue growth to resume beginning in the first quarter and are encouraged by our 2025 outlook as design wins across several key focus areas continue to ramp into production throughout the year."
Fourth Quarter Financial Highlights
- Revenue was
$166 million - Industrial & Commercial revenue for the quarter was
$89 million 8% sequentially - Home & Life revenue for the quarter was
$78 million 11% sequentially
Results on a GAAP basis:
- GAAP gross margin was
54.3% - GAAP operating expenses were
$119 million - GAAP operating loss was
$29 million - GAAP diluted loss per share was
$(0.73)
Results on a non-GAAP basis, excluding the impact of stock compensation, amortization of acquired intangible assets, and certain other items as set forth in the below GAAP to Non-GAAP reconciliation tables were as follows:
- Non-GAAP gross margin was
54.6% - Non-GAAP operating expenses were
$98 million - Non-GAAP operating loss was
$7 million - Non-GAAP diluted loss per share was
$(0.11)
Business Outlook
The company expects first-quarter revenue to be between
On a GAAP basis:
- GAAP gross margin to be between
54% to56% - GAAP operating expenses of approximately
$128 million $130 million - GAAP diluted loss per share between
$(0.75) $(1.05)
On a non-GAAP basis, excluding the impact of stock compensation, amortization of acquired intangible assets, and certain other items as set forth in the reconciliation tables:
- Non-GAAP gross margin to be between
54% to56% - Non-GAAP operating expenses of approximately
$103 million $105 million - Non-GAAP diluted earnings (loss) per share between
$0.01 $(0.19)
Earnings Webcast and Conference Call
Silicon Labs will host an earnings conference call to discuss the quarterly results and answer questions at 7:30 am CDT today. An audio webcast will be available on Silicon Labs' website (www.silabs.com) under Investor Relations. In addition, the company will post an audio recording of the event at investor.silabs.com and make a replay available through March 6, 2025.
About Silicon Labs
Silicon Labs (NASDAQ: SLAB) is a leader in secure, intelligent wireless technology for a more connected world. Our integrated hardware and software platform, intuitive development tools, thriving ecosystem, and robust support make us an ideal long-term partner in building advanced industrial, commercial, home and life applications. We make it easy for developers to solve complex wireless challenges throughout the product lifecycle and get to market quickly with innovative solutions that transform industries, grow economies, and improve lives. silabs.com
Forward-Looking Statements
This press release contains forward-looking statements based on Silicon Labs' current expectations. The words "believe", "estimate", "expect", "intend", "anticipate", "plan", "project", "will", and similar phrases as they relate to Silicon Labs are intended to identify such forward-looking statements. These forward-looking statements reflect the current views and assumptions of Silicon Labs and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. Among the factors that could cause actual results to differ materially from those in the forward-looking statements are the following: the competitive and cyclical nature of the semiconductor industry; the challenging macroeconomic environment, including tariffs or any other policy changes; geographic concentration of manufacturers, assemblers, test service providers and customers in
Note to editors: Silicon Laboratories, Silicon Labs, the "S" symbol, and the Silicon Labs logo are trademarks of Silicon Laboratories Inc. All other product names noted herein may be trademarks of their respective holders.
Silicon Laboratories Inc. | |||||||
Condensed Consolidated Statements of Operations | |||||||
(In thousands, except per share data) | |||||||
(Unaudited) | |||||||
Three Months Ended | Year Ended | ||||||
December 28, | December 30, | December 28, | December 30, | ||||
Revenues | $ 166,249 | $ 86,845 | $ 584,386 | $ 782,258 | |||
Cost of revenues | 76,026 | 42,919 | 272,198 | 321,672 | |||
Gross profit | 90,223 | 43,926 | 312,188 | 460,586 | |||
Operating expenses: | |||||||
Research and development | 82,438 | 83,404 | 332,225 | 337,744 | |||
Selling, general and administrative | 36,412 | 33,633 | 145,453 | 146,996 | |||
Operating expenses | 118,850 | 117,037 | 477,678 | 484,740 | |||
Operating loss | (28,627) | (73,111) | (165,490) | (24,154) | |||
Other income (expense): | |||||||
Interest income and other, net | 2,978 | 3,610 | 11,987 | 19,165 | |||
Interest expense | (260) | (942) | (1,310) | (5,554) | |||
Loss before income taxes | (25,909) | (70,443) | (154,813) | (10,543) | |||
Provision (benefit) for income taxes | (2,086) | (15,536) | 36,197 | 7,943 | |||
Equity-method loss | — | (14,880) | — | (16,030) | |||
Net loss | $ (23,823) | $ (69,787) | $ (191,010) | $ (34,516) | |||
Loss per share: | |||||||
Basic | $ (0.73) | $ (2.19) | $ (5.93) | $ (1.09) | |||
Diluted | $ (0.73) | $ (2.19) | $ (5.93) | $ (1.09) | |||
Weighted-average common shares outstanding: | |||||||
Basic | 32,420 | 31,848 | 32,191 | 31,804 | |||
Diluted | 32,420 | 31,848 | 32,191 | 31,804 | |||
Non-GAAP Financial Measurements
In addition to the GAAP results provided throughout this document, Silicon Labs has provided non-GAAP financial measurements on a basis excluding non-cash and other charges and benefits. Details of these excluded items are presented in the tables below, which reconcile the GAAP results to non-GAAP financial measurements.
The non-GAAP financial measurements do not replace the presentation of Silicon Labs' GAAP financial results. These measurements provide supplemental information to assist management and investors in analyzing Silicon Labs' financial position and results of operations. Silicon Labs has chosen to provide this information to investors to enable them to perform meaningful comparisons of past, present and future operating results and as a means to emphasize the results of core on-going operations.
Unaudited Reconciliation of GAAP to Non-GAAP Financial Measures | ||||||||||||
(In thousands, except per share data) | ||||||||||||
Three Months Ended December 28, 2024 | ||||||||||||
Non-GAAP Income Statement Items | GAAP Measure | GAAP Percent of Revenue | Stock Compensation Expense | Intangible Asset Amortization | Non-GAAP Measure | Non-GAAP Percent of Revenue | ||||||
Revenues | $ 166,249 | |||||||||||
Gross profit | 90,223 | 54.3 % | $ 485 | $ — | $ 90,708 | 54.6 % | ||||||
Research and development | 82,438 | 49.6 % | 10,199 | 5,437 | 66,802 | 40.2 % | ||||||
Selling, general and administrative | 36,412 | 21.9 % | 5,460 | — | 30,952 | 18.6 % | ||||||
Operating expenses | 118,850 | 71.5 % | 15,659 | 5,437 | 97,754 | 58.8 % | ||||||
Operating income (loss) | (28,627) | (17.2 %) | 16,144 | 5,437 | (7,046) | (4.2 %) | ||||||
Three Months Ended December 28, 2024 | ||||||||||||
Non-GAAP Loss Per Share | GAAP Measure | Stock Compensation Expense* | Intangible Asset Amortization* | Income Tax Adjustments | Non- GAAP Measure | |||||||
Net income (loss) | $ (23,823) | $ 16,144 | $ 5,437 | $ (1,221) | $ (3,463) | |||||||
Diluted shares outstanding | 32,420 | 32,420 | ||||||||||
Diluted loss per share | $ (0.73) | $ (0.11) | ||||||||||
* Represents pre-tax amounts |
Unaudited Forward-Looking Statements Regarding Business Outlook | ||||||
(In millions, except per share data) | ||||||
Three Months Ended | ||||||
Business Outlook | GAAP Measure | Non-GAAP Adjustments** | Non-GAAP Measure | |||
Gross margin | — % | |||||
Operating expenses | ||||||
Diluted earnings (loss) per share | ||||||
** Non-GAAP adjustments include the following estimates: stock compensation expense of |
Silicon Laboratories Inc. | |||
Condensed Consolidated Balance Sheets | |||
(In thousands, except per share data) | |||
(Unaudited) | |||
December 28, | December 30, | ||
Assets | |||
Current assets: | |||
Cash and cash equivalents | $ 281,607 | $ 227,504 | |
Short-term investments | 100,554 | 211,720 | |
Accounts receivable, net | 54,479 | 29,295 | |
Inventories | 105,639 | 194,295 | |
Prepaid expenses and other current assets | 59,754 | 75,117 | |
Total current assets | 602,033 | 737,931 | |
Property and equipment, net | 132,136 | 145,890 | |
Goodwill | 376,389 | 376,389 | |
Other intangible assets, net | 36,499 | 59,533 | |
Other assets, net | 75,617 | 123,313 | |
Total assets | $ 1,222,674 | $ 1,443,056 | |
Liabilities and Stockholders' Equity | |||
Current liabilities: | |||
Accounts payable | $ 42,448 | $ 57,498 | |
Revolving line of credit | — | 45,000 | |
Deferred revenue and returns liability | 3,073 | 2,117 | |
Other current liabilities | 52,362 | 58,955 | |
Total current liabilities | 97,883 | 163,570 | |
Other non-current liabilities | 44,770 | 70,804 | |
Total liabilities | 142,653 | 234,374 | |
Commitments and contingencies | |||
Stockholders' equity: | |||
Preferred stock – | — | — | |
Common stock – | 3 | 3 | |
Additional paid-in capital | 78,227 | 16,973 | |
Retained earnings | 1,001,721 | 1,192,731 | |
Accumulated other comprehensive income (loss) | 70 | (1,025) | |
Total stockholders' equity | 1,080,021 | 1,208,682 | |
Total liabilities and stockholders' equity | $ 1,222,674 | $ 1,443,056 | |
Silicon Laboratories Inc. | |||
Condensed Consolidated Statements of Cash Flows | |||
(In thousands) | |||
(Unaudited) | |||
Year Ended | |||
December 28, | December 30, | ||
Operating Activities | |||
Net loss | $ (191,010) | $ (34,516) | |
Adjustments to reconcile net loss to net cash used in operating activities: | |||
Depreciation of property and equipment | 25,551 | 25,707 | |
Amortization of other intangible assets | 23,034 | 25,374 | |
Amortization of debt discount and debt issuance costs | — | 960 | |
Stock-based compensation expense | 61,503 | 48,208 | |
Equity-method loss | — | 16,030 | |
Deferred income taxes | 29,470 | (11,815) | |
Changes in operating assets and liabilities: | |||
Accounts receivable | (25,184) | 42,142 | |
Inventories | 88,494 | (93,398) | |
Prepaid expenses and other assets | 27,362 | (10,733) | |
Accounts payable | (15,155) | (25,644) | |
Other current liabilities and income taxes | (21,768) | (37,793) | |
Deferred revenue and returns liability | 956 | (4,663) | |
Other non-current liabilities | (17,163) | 29,793 | |
Net cash used in operating activities | (13,910) | (30,348) | |
Investing Activities | |||
Purchases of marketable securities | (73,602) | (103,485) | |
Sales of marketable securities | 54,227 | 395,565 | |
Maturities of marketable securities | 131,858 | 200,530 | |
Purchases of property and equipment | (11,748) | (22,282) | |
Proceeds from sale of equity investment | 12,382 | — | |
Purchases of other assets | — | (520) | |
Net cash provided by investing activities | 113,117 | 469,808 | |
Financing Activities | |||
Proceeds from issuance of debt | — | 80,000 | |
Payments on debt | (45,000) | (571,157) | |
Repurchases of common stock | (16) | (217,137) | |
Payment of taxes withheld for vested stock awards | (16,434) | (18,189) | |
Proceeds from the issuance of common stock | 16,346 | 14,612 | |
Net cash used in financing activities | (45,104) | (711,871) | |
Increase (decrease) in cash and cash equivalents | 54,103 | (272,411) | |
Cash and cash equivalents at beginning of period | 227,504 | 499,915 | |
Cash and cash equivalents at end of period | $ 281,607 | $ 227,504 | |
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SOURCE Silicon Labs
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