Semtech Announces Fourth Quarter and Fiscal Year 2025 Results
Semtech (SMTC) reported its Q4 and fiscal year 2025 results, showing sequential improvement across key metrics. Q4 net sales reached $251.0 million, up 6% sequentially, with GAAP gross margin of 52.0% and operating margin of 8.5%.
For fiscal year 2025, the company achieved net sales of $909.3 million, representing a 5% increase from FY2024. The GAAP gross margin improved significantly to 50.2%, up 1,610 basis points year-over-year. The company reported a GAAP diluted loss per share of $2.26 and non-GAAP adjusted diluted earnings per share of $0.88.
Notable achievements include strong operating cash flow of $33.5 million and free cash flow of $30.9 million in Q4. The company successfully reduced its net debt by 68% year-over-year, strengthening its financial foundation for future growth.
Semtech (SMTC) ha riportato i risultati del quarto trimestre e dell'anno fiscale 2025, mostrando un miglioramento sequenziale in metriche chiave. Le vendite nette del Q4 hanno raggiunto 251,0 milioni di dollari, in aumento del 6% rispetto al trimestre precedente, con un margine lordo GAAP del 52,0% e un margine operativo dell'8,5%.
Per l'anno fiscale 2025, l'azienda ha raggiunto vendite nette di 909,3 milioni di dollari, che rappresentano un aumento del 5% rispetto all'anno fiscale 2024. Il margine lordo GAAP è migliorato significativamente al 50,2%, con un incremento di 1.610 punti base rispetto all'anno precedente. L'azienda ha riportato una perdita diluita per azione GAAP di 2,26 dollari e un utile per azione diluito rettificato non GAAP di 0,88 dollari.
Tra i risultati notevoli ci sono un forte flusso di cassa operativo di 33,5 milioni di dollari e un flusso di cassa libero di 30,9 milioni di dollari nel Q4. L'azienda ha ridotto con successo il suo debito netto del 68% anno su anno, rafforzando la sua base finanziaria per una futura crescita.
Semtech (SMTC) informó sus resultados del cuarto trimestre y del año fiscal 2025, mostrando una mejora secuencial en métricas clave. Las ventas netas del Q4 alcanzaron 251,0 millones de dólares, un aumento del 6% secuencialmente, con un margen bruto GAAP del 52,0% y un margen operativo del 8,5%.
Para el año fiscal 2025, la compañía logró ventas netas de 909,3 millones de dólares, lo que representa un aumento del 5% en comparación con el año fiscal 2024. El margen bruto GAAP mejoró significativamente al 50,2%, con un aumento de 1,610 puntos básicos interanuales. La compañía reportó una pérdida diluida por acción GAAP de 2,26 dólares y ganancias por acción diluidas ajustadas no GAAP de 0,88 dólares.
Entre los logros notables se incluye un fuerte flujo de caja operativo de 33,5 millones de dólares y un flujo de caja libre de 30,9 millones de dólares en el Q4. La compañía redujo con éxito su deuda neta en un 68% interanual, fortaleciendo su base financiera para el crecimiento futuro.
Semtech (SMTC)는 2025 회계연도 4분기 및 연간 실적을 발표하며 주요 지표에서 순차적인 개선을 보여주었습니다. 4분기 순매출은 2억 5,100만 달러에 달하며, 전분기 대비 6% 증가하였고, GAAP 총 이익률은 52.0%, 운영 이익률은 8.5%를 기록했습니다.
2025 회계연도 동안 회사는 9억 930만 달러의 순매출을 달성하여 2024 회계연도 대비 5% 증가했습니다. GAAP 총 이익률은 50.2%로 크게 개선되었으며, 전년 대비 1,610 베이시스 포인트 상승했습니다. 회사는 GAAP 기준으로 주당 희석 손실이 2.26달러, 비 GAAP 조정 희석 주당 순이익이 0.88달러로 보고했습니다.
주목할 만한 성과로는 4분기 운영 현금 흐름이 3,350만 달러, 자유 현금 흐름이 3,090만 달러에 달하며, 회사는 연간 기준으로 순부채를 68% 줄이는 데 성공하여 향후 성장을 위한 재무 기반을 강화했습니다.
Semtech (SMTC) a publié ses résultats du quatrième trimestre et de l'exercice fiscal 2025, montrant une amélioration séquentielle dans les indicateurs clés. Les ventes nettes du Q4 ont atteint 251,0 millions de dollars, en hausse de 6% par rapport au trimestre précédent, avec une marge brute GAAP de 52,0% et une marge opérationnelle de 8,5%.
Pour l'exercice fiscal 2025, l'entreprise a réalisé des ventes nettes de 909,3 millions de dollars, représentant une augmentation de 5% par rapport à l'exercice fiscal 2024. La marge brute GAAP s'est considérablement améliorée à 50,2%, soit une augmentation de 1 610 points de base par rapport à l'année précédente. L'entreprise a annoncé une perte diluée par action GAAP de 2,26 dollars et un bénéfice par action dilué ajusté non GAAP de 0,88 dollars.
Parmi les réalisations notables figurent un fort flux de trésorerie opérationnel de 33,5 millions de dollars et un flux de trésorerie libre de 30,9 millions de dollars au Q4. L'entreprise a réussi à réduire sa dette nette de 68% d'une année sur l'autre, renforçant ainsi sa base financière pour une croissance future.
Semtech (SMTC) hat seine Ergebnisse für das vierte Quartal und das Geschäftsjahr 2025 veröffentlicht, die eine sequenzielle Verbesserung in den wichtigsten Kennzahlen zeigen. Die Nettoumsätze im Q4 erreichten 251,0 Millionen US-Dollar, was einem Anstieg von 6% im Vergleich zum vorherigen Quartal entspricht, mit einer GAAP-Bruttomarge von 52,0% und einer operativen Marge von 8,5%.
Für das Geschäftsjahr 2025 erzielte das Unternehmen Nettoumsätze von 909,3 Millionen US-Dollar, was einem Anstieg von 5% im Vergleich zum Geschäftsjahr 2024 entspricht. Die GAAP-Bruttomarge verbesserte sich erheblich auf 50,2%, ein Anstieg um 1.610 Basispunkte im Jahresvergleich. Das Unternehmen berichtete von einem GAAP-diluted Verlust pro Aktie von 2,26 US-Dollar und einem non-GAAP-adjustierten Gewinn pro Aktie von 0,88 US-Dollar.
Zu den bemerkenswerten Erfolgen gehören ein starker operativer Cashflow von 33,5 Millionen US-Dollar und ein freier Cashflow von 30,9 Millionen US-Dollar im Q4. Das Unternehmen hat seine Nettoverschuldung im Jahresvergleich um 68% erfolgreich reduziert und damit seine finanzielle Basis für zukünftiges Wachstum gestärkt.
- Sequential quarterly improvement in net sales (+6%), gross margin, and operating margin
- 5% year-over-year revenue growth to $909.3 million in FY2025
- Significant gross margin improvement of 1,610 basis points year-over-year
- 68% reduction in net debt year-over-year
- Strong Q4 free cash flow of $30.9 million
- GAAP diluted loss per share of $2.26 for FY2025
- Low GAAP operating margin of 5.5% for FY2025
Insights
Semtech's Q4 and FY2025 results show a clear pattern of sequential improvement across all key financial metrics, signaling a potential turnaround in the company's operations. Q4 revenue reached
The most impressive aspect is the company's dramatic improvement in gross margin for the full fiscal year, with GAAP gross margin expanding 1,610 basis points to
Semtech's debt reduction strategy has delivered exceptional results, with net debt decreasing
While the company posted a GAAP diluted loss per share of
Management's strategic focus on portfolio optimization, R&D investment, and margin expansion aligns with market expectations for semiconductor companies to emphasize profitable growth rather than growth at any cost in the current economic environment.
Fourth Quarter of Fiscal Year 2025
-
Net sales of
$251.0 million 6% sequentially -
GAAP gross margin of
52.0% , up 90 basis points sequentially and Non-GAAP adjusted gross margin of53.2% , up 80 basis points sequentially -
GAAP operating margin of
8.5% , up 100 basis points sequentially and Non-GAAP adjusted operating margin of19.9% , up 160 basis points sequentially -
GAAP diluted earnings per share of
$0.43 $0.40 -
Operating cash flow of
$33.5 million $30.9 million
Fiscal Year 2025
-
Net sales of
$909.3 million 5% from fiscal year 2024 -
GAAP gross margin of
50.2% , up 1,610 basis points from fiscal year 2024 and Non-GAAP adjusted gross margin of51.5% , up 200 basis points from fiscal year 2024 -
GAAP operating margin of
5.5% and Non-GAAP adjusted operating margin of16.4% -
GAAP diluted loss per share of
$2.26 $0.88
"Fiscal year 2025 represented a year of positive inflection on many fronts, with sequential improvement for each quarter reported in net sales, gross margin, operating margin and earnings per share," said Hong Hou, Semtech's president and chief executive officer. "In the new fiscal year, we are intently focusing on three core priorities to position Semtech for future success: portfolio optimization and simplification, strategic investment in research and development and driving margin expansion, all which we believe will deliver greater value to our shareholders."
"Operating cash flow also reflected a positive inflection in our business and is expected to further benefit from lower cash interest requirements stemming from our debt reduction," said Mark Lin, Semtech's executive vice president and chief financial officer. "We executed to our previously stated capital allocation priority of reducing debt, with net debt as of the end of fiscal year 2025 decreasing
Fourth Quarter and Fiscal Year 2025 Results
(in millions, except per share data) |
Q4'25 |
|
Q3'25 |
|
Q4'24 |
|
FY'25 |
|
FY'24 |
||||||||||
GAAP Financial Results |
|
|
|
|
|
|
|
|
|
||||||||||
Net sales |
$ |
251.0 |
|
|
$ |
236.8 |
|
|
$ |
192.9 |
|
|
$ |
909.3 |
|
|
$ |
868.8 |
|
Gross margin |
|
52.0 |
% |
|
|
51.1 |
% |
|
|
(0.2 |
)% |
|
|
50.2 |
% |
|
|
34.1 |
% |
Operating expenses, net |
$ |
109.3 |
|
|
$ |
103.2 |
|
|
$ |
619.6 |
|
|
$ |
406.6 |
|
|
$ |
1,240.6 |
|
Operating income (loss) |
$ |
21.2 |
|
|
$ |
17.8 |
|
|
$ |
(620.0 |
) |
|
$ |
49.9 |
|
|
$ |
(944.3 |
) |
Operating margin |
|
8.5 |
% |
|
|
7.5 |
% |
|
|
(321.3 |
)% |
|
|
5.5 |
% |
|
|
(108.7 |
)% |
Interest expense, net |
$ |
16.7 |
|
|
$ |
20.3 |
|
|
$ |
22.1 |
|
|
$ |
87.8 |
|
|
$ |
92.8 |
|
Goodwill impairment |
$ |
7.5 |
|
|
$ |
— |
|
|
$ |
473.8 |
|
|
$ |
7.5 |
|
|
$ |
755.6 |
|
Intangible impairments |
$ |
— |
|
|
$ |
— |
|
|
$ |
131.4 |
|
|
$ |
— |
|
|
$ |
131.4 |
|
Net income (loss) attributable to common stockholders |
$ |
39.1 |
|
|
$ |
(7.6 |
) |
|
$ |
(642.4 |
) |
|
$ |
(161.9 |
) |
|
$ |
(1,092.0 |
) |
Diluted earnings (loss) per share |
$ |
0.43 |
|
|
$ |
(0.10 |
) |
|
$ |
(9.98 |
) |
|
$ |
(2.26 |
) |
|
$ |
(17.03 |
) |
(in millions, except per share data) |
Q4'25 |
|
Q3'25 |
|
Q4'24 |
|
FY'25 |
|
FY'24 |
||||||||||
Net sales |
$ |
251.0 |
|
|
$ |
236.8 |
|
|
$ |
192.9 |
|
|
$ |
909.3 |
|
|
$ |
868.8 |
|
Non-GAAP Financial Results |
|
|
|
|
|
|
|
|
|
||||||||||
Adjusted gross margin* |
|
53.2 |
% |
|
|
52.4 |
% |
|
|
48.9 |
% |
|
|
51.5 |
% |
|
|
49.5 |
% |
Adjusted operating expenses, net* |
$ |
83.7 |
|
|
$ |
80.6 |
|
|
$ |
76.5 |
|
|
$ |
319.6 |
|
|
$ |
337.5 |
|
Adjusted operating income* |
$ |
49.8 |
|
|
$ |
43.4 |
|
|
$ |
17.8 |
|
|
$ |
149.0 |
|
|
$ |
92.7 |
|
Adjusted operating margin* |
|
19.9 |
% |
|
|
18.3 |
% |
|
|
9.2 |
% |
|
|
16.4 |
% |
|
|
10.7 |
% |
Adjusted interest expense, net* |
$ |
11.2 |
|
|
$ |
18.4 |
|
|
$ |
19.9 |
|
|
$ |
70.6 |
|
|
$ |
81.8 |
|
Adjusted net income (loss) attributable to common stockholders* |
$ |
34.5 |
|
|
$ |
20.3 |
|
|
$ |
(3.7 |
) |
|
$ |
67.0 |
|
|
$ |
9.1 |
|
Adjusted diluted earnings (loss) per share* |
$ |
0.40 |
|
|
$ |
0.26 |
|
|
$ |
(0.06 |
) |
|
$ |
0.88 |
|
|
$ |
0.14 |
|
Adjusted EBITDA* |
$ |
57.8 |
|
|
$ |
51.1 |
|
|
$ |
24.0 |
|
|
$ |
182.5 |
|
|
$ |
122.0 |
|
Adjusted EBITDA margin* |
|
23.0 |
% |
|
|
21.6 |
% |
|
|
12.5 |
% |
|
|
20.1 |
% |
|
|
14.0 |
% |
*See "Non-GAAP Financial Measures" below for additional information about our non-GAAP financial results.
First Quarter of Fiscal Year 2026 Outlook
(in millions, except per share data) |
|
||||
Net sales |
|
|
+/- |
|
|
Non-GAAP Financial Measures |
|
|
|
|
|
Adjusted gross margin* |
53.0 % |
|
+/- |
|
50 bps |
Adjusted operating expenses, net* |
|
|
+/- |
|
|
Adjusted operating income* |
|
|
+/- |
|
|
Adjusted operating margin* |
18.2 % |
|
+/- |
|
80 bps |
Adjusted interest expense, net* |
|
|
|
|
|
Normalized tax rate* |
15 % |
|
|
|
|
Adjusted diluted earnings per share* |
|
|
+/- |
|
|
Adjusted EBITDA* |
|
|
+/- |
|
|
Adjusted EBITDA margin* |
21.3 % |
|
+/- |
|
80 bps |
|
|
|
|
|
|
Non-GAAP diluted share count* |
90.1 |
|
|
|
|
*See "Non-GAAP Financial Measures" below for additional information about our non-GAAP financial results.
The Company is unable to include a reconciliation of forward-looking non-GAAP results to the corresponding GAAP measures as they are not available without unreasonable efforts due to the high variability and low visibility with respect to the impact of transaction, integration and restructuring expenses, share-based awards, amortization of acquisition-related intangible assets and other items that are excluded from these non-GAAP measures. The Company expects the variability of the above charges to have a potentially significant impact on its GAAP financial results.
Webcast and Conference Call
Semtech will be hosting a conference call today to discuss its fourth quarter and fiscal year 2025 results at 1:30 p.m. Pacific time. The dial-in number for the call is (877) 407-0312. Please use conference ID 13746451. An audio webcast and supplemental earnings materials for the quarter will be available on the Investor Relations section of Semtech's website at investors.semtech.com under "News & Events." A replay of the call will be available through April 10, 2025 at the same website or by calling (877) 660-6853 and entering conference ID 13746451.
Non-GAAP Financial Measures
To supplement the Company's consolidated financial statements prepared in accordance with GAAP, this release includes a presentation of select non-GAAP financial measures. The Company's non-GAAP measures of adjusted gross margin, adjusted product development and engineering expense, adjusted SG&A expense, adjusted operating expenses, net, adjusted operating income (loss), adjusted operating margin, adjusted interest expense, net, adjusted net income (loss) attributable to common stockholders, adjusted diluted earnings (loss) per share, adjusted normalized tax rate, adjusted EBITDA and adjusted EBITDA margin exclude the following items, if any and as applicable, as set forth in the reconciliations in the tables below under "Supplemental Information: Reconciliation of GAAP to Non-GAAP Results."
- Share-based compensation
- Intangible amortization
- Transaction and integration related costs or recoveries (including costs associated with the acquisition and integration of Sierra Wireless, Inc.)
- Restructuring and other reserves, including cumulative other reserves associated with historical activity including environmental, pension, deferred compensation and right-of-use asset impairments
- Litigation costs or dispute settlement charges or recoveries
- Equity method income or loss
- Investment gains, losses, reserves and impairments, including interest income from debt investments
- Write-off and amortization of deferred financing costs
- Interest rate swap termination
- Loss on extinguishment of debt
- Debt commitment fee
- Goodwill and intangible impairment
- Amortization of inventory step-up
In this release, the Company also presents adjusted EBITDA, adjusted EBITDA margin and free cash flow. Adjusted EBITDA is defined as net income (loss) attributable to common stockholders plus interest expense, interest income, (benefit) provision for income taxes, depreciation and amortization, and share-based compensation, and adjusted to exclude certain expenses, gains and losses that the Company believes are not indicative of its core results over time. Adjusted EBITDA margin is defined as adjusted EBITDA as a percentage of net sales. The Company considers free cash flow, which may be positive or negative, a non-GAAP financial measure defined as cash flows provided by (used in) operating activities less net capital expenditures. Management believes that the presentation of these non-GAAP measures provides useful information to investors regarding the Company's financial condition and results of operations. These non-GAAP financial measures are adjusted to exclude the items identified above because such items are either operating expenses that would not otherwise have been incurred by the Company in the normal course of the Company's business operations, or are not reflective of the Company's core results over time. These excluded items may include recurring as well as non-recurring items, and no inference should be made that all of these adjustments, charges, costs or expenses are unusual, infrequent or non-recurring. For example: certain restructuring and integration-related expenses (which consist of employee termination costs, facility closure or lease termination costs, and contract termination costs) may be considered recurring given the Company's ongoing efforts to be more cost effective and efficient; certain acquisition and disposition-related adjustments or expenses may be deemed recurring given the Company's regular evaluation of potential transactions and investments; and certain litigation expenses or dispute settlement charges or gains (which may include estimated losses for which the Company may have established a reserve, as well as any actual settlements, judgments, or other resolutions against, or in favor of, the Company related to litigation, arbitration, disputes or similar matters, and insurance recoveries received by the Company related to such matters) may be viewed as recurring given that the Company may from time to time be involved in, and may resolve, litigation, arbitration, disputes, and similar matters.
Notwithstanding that certain adjustments, charges, costs or expenses may be considered recurring, in order to provide meaningful comparisons, the Company believes that it is appropriate to exclude such items because they are not reflective of the Company's core results and tend to vary based on timing, frequency and magnitude.
These non-GAAP financial measures are provided to enhance the user's overall understanding of the Company's comparable financial performance between periods. In addition, the Company's management generally excludes the items noted above when managing and evaluating the performance of the business. Certain non-GAAP financial measures are also used in the Company's compensation programs. The financial statements provided with this release include reconciliations of these non-GAAP financial measures to their most comparable GAAP measures for the fourth quarter of fiscal year 2024, the third and fourth quarters of fiscal year 2025, and the full-year fiscal 2025 and fiscal 2024 periods.
The Company adopted a full-year, normalized tax rate for the computation of the non-GAAP income tax provision in order to provide better comparability across the interim reporting periods by reducing the quarterly variability in non-GAAP tax rates that can occur throughout the year. In estimating the full-year non-GAAP normalized tax rate, the Company utilized a full-year financial projection that considers multiple factors such as changes to the Company's current operating structure, existing positions in various tax jurisdictions, the effect of key tax law changes, and other significant tax matters to the extent they are applicable to the full fiscal year financial projection. In addition to the adjustments described above, this normalized tax rate excludes the impact of share-based awards and the amortization of acquisition-related intangible assets. For fiscal year 2025, the Company's projected non-GAAP normalized tax rate was
Effective as of the third quarter of fiscal year 2024, the Company’s non-GAAP measures were adjusted to exclude amortization of deferred financing costs, which had the impact of decreasing non-GAAP adjusted interest expense, net and increasing non-GAAP adjusted net income or loss attributable to common stockholders and non-GAAP adjusted earnings or loss per diluted share. This adjustment was applied retrospectively and all prior period amounts have been revised to conform to the current presentation.
To provide additional insight into the Company's first quarter outlook, this release also includes a presentation of forward-looking non-GAAP financial measures. See "First Quarter of Fiscal Year 2026 Outlook" above for further information.
Forward-Looking and Cautionary Statements
This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, as amended, based on the Company's current expectations, estimates and projections about its operations, industry, financial condition, performance, results of operations, and liquidity. Forward-looking statements are statements other than historical information or statements of current condition and relate to matters such as future financial performance including the first quarter of fiscal year 2026 outlook; future operational performance; the anticipated impact of specific items on future earnings; the Company's expectations regarding near term growth trends; and the Company's plans, objectives and expectations. Statements containing words such as "may," "believes," "anticipates," "expects," "intends," "plans," "projects," "objectives," "estimates," "develops," "should," "could," "will," "designed to," "projections," or "outlook," or other similar expressions constitute forward-looking statements.
Forward-looking statements involve known and unknown risks and uncertainties that could cause actual results and events to differ materially from those projected. Potential factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: the volatility of our financial results or impact of the cyclical nature of our industry, including during industry downturns or due to periodic economic uncertainty; the historical rapid decrease of the average selling prices of certain products; disruptions in
Amounts reported in this press release are preliminary and subject to the finalization of the filing of our Annual Report on Form 10-K for the year ended January 26, 2025. In the reported results, Q4'25 refers to the quarter ended January 26, 2025, Q3'25 refers to the quarter ended October 27, 2024, Q4'24 refers to the quarter ended January 28, 2024, FY'25 refers to the fiscal year ended January 26, 2025, and FY'24 refers to the fiscal year ended January 28, 2024. Reported amounts may not foot precisely due to rounding.
About Semtech
Semtech Corporation (Nasdaq: SMTC) is a high-performance semiconductor, IoT systems and cloud connectivity service provider dedicated to delivering high-quality technology solutions that enable a smarter, more connected and sustainable planet. Our global teams are committed to empowering solution architects and application developers to develop breakthrough products for the infrastructure, industrial and consumer markets.
________________________________
Semtech and the Semtech logo are registered trademarks or service marks of Semtech Corporation or its subsidiaries.
SMTC-F
SEMTECH CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in millions, except per share data) (unaudited) |
|||||||||||||||||||
|
Q4'25 |
|
Q3'25 |
|
Q4'24 |
|
FY'25 |
|
FY'24 |
||||||||||
Net sales |
$ |
251.0 |
|
|
$ |
236.8 |
|
|
$ |
192.9 |
|
|
$ |
909.3 |
|
|
$ |
868.8 |
|
Cost of sales |
|
118.2 |
|
|
|
113.6 |
|
|
|
99.3 |
|
|
|
443.7 |
|
|
|
447.0 |
|
Amortization of acquired technology |
|
2.3 |
|
|
|
2.3 |
|
|
|
2.3 |
|
|
|
9.1 |
|
|
|
33.7 |
|
Acquired technology impairments |
|
— |
|
|
|
— |
|
|
|
91.8 |
|
|
|
— |
|
|
|
91.8 |
|
Total cost of sales |
|
120.5 |
|
|
|
115.9 |
|
|
|
193.3 |
|
|
|
452.8 |
|
|
|
572.5 |
|
Gross profit |
|
130.5 |
|
|
|
121.0 |
|
|
|
(0.4 |
) |
|
|
456.5 |
|
|
|
296.3 |
|
Operating expenses, net: |
|
|
|
|
|
|
|
|
|
||||||||||
Product development and engineering |
|
46.7 |
|
|
|
42.6 |
|
|
|
41.5 |
|
|
|
170.9 |
|
|
|
186.5 |
|
Selling, general and administrative |
|
54.5 |
|
|
|
59.8 |
|
|
|
55.2 |
|
|
|
222.4 |
|
|
|
220.2 |
|
Intangible amortization |
|
0.1 |
|
|
|
0.1 |
|
|
|
0.3 |
|
|
|
0.9 |
|
|
|
14.9 |
|
Restructuring |
|
0.4 |
|
|
|
0.7 |
|
|
|
9.2 |
|
|
|
4.9 |
|
|
|
23.8 |
|
Intangible impairments |
|
— |
|
|
|
— |
|
|
|
39.6 |
|
|
|
— |
|
|
|
39.6 |
|
Goodwill impairment |
|
7.5 |
|
|
|
— |
|
|
|
473.8 |
|
|
|
7.5 |
|
|
|
755.6 |
|
Total operating expenses, net |
|
109.3 |
|
|
|
103.2 |
|
|
|
619.6 |
|
|
|
406.6 |
|
|
|
1,240.6 |
|
Operating income (loss) |
|
21.2 |
|
|
|
17.8 |
|
|
|
(620.0 |
) |
|
|
49.9 |
|
|
|
(944.3 |
) |
Interest expense |
|
(17.5 |
) |
|
|
(20.8 |
) |
|
|
(22.8 |
) |
|
|
(90.1 |
) |
|
|
(95.8 |
) |
Interest income |
|
0.8 |
|
|
|
0.5 |
|
|
|
0.7 |
|
|
|
2.3 |
|
|
|
3.1 |
|
Loss on extinguishment of debt |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(144.7 |
) |
|
|
— |
|
Non-operating income (expense), net |
|
2.0 |
|
|
|
(1.1 |
) |
|
|
(2.0 |
) |
|
|
0.3 |
|
|
|
(0.5 |
) |
Investment impairments and credit loss reserves, net |
|
— |
|
|
|
— |
|
|
|
(1.7 |
) |
|
|
(1.1 |
) |
|
|
(3.9 |
) |
Income (loss) before taxes and equity method (loss) income |
|
6.5 |
|
|
|
(3.6 |
) |
|
|
(645.8 |
) |
|
|
(183.4 |
) |
|
|
(1,041.6 |
) |
(Benefit) provision for income taxes |
|
(33.2 |
) |
|
|
4.0 |
|
|
|
(3.3 |
) |
|
|
(22.0 |
) |
|
|
50.5 |
|
Net income (loss) before equity method (loss) income |
|
39.7 |
|
|
|
(7.6 |
) |
|
|
(642.4 |
) |
|
|
(161.3 |
) |
|
|
(1,092.1 |
) |
Equity method (loss) income |
|
(0.6 |
) |
|
|
— |
|
|
|
0.1 |
|
|
|
(0.5 |
) |
|
|
— |
|
Net income (loss) attributable to common stockholders |
$ |
39.1 |
|
|
$ |
(7.6 |
) |
|
$ |
(642.4 |
) |
|
$ |
(161.9 |
) |
|
$ |
(1,092.0 |
) |
|
|
|
|
|
|
|
|
|
|
||||||||||
Earnings (loss) per share: |
|
|
|
|
|
|
|
|
|
||||||||||
Basic |
$ |
0.48 |
|
|
$ |
(0.10 |
) |
|
$ |
(9.98 |
) |
|
$ |
(2.26 |
) |
|
$ |
(17.03 |
) |
Diluted |
$ |
0.43 |
|
|
$ |
(0.10 |
) |
|
$ |
(9.98 |
) |
|
$ |
(2.26 |
) |
|
$ |
(17.03 |
) |
|
|
|
|
|
|
|
|
|
|
||||||||||
Weighted average number of shares used in computing earnings (loss) per share: |
|
|
|
|
|
|
|
|
|
||||||||||
Basic |
|
81,313 |
|
|
|
75,319 |
|
|
|
64,363 |
|
|
|
71,606 |
|
|
|
64,127 |
|
Diluted |
|
90,298 |
|
|
|
75,319 |
|
|
|
64,363 |
|
|
|
71,606 |
|
|
|
64,127 |
|
SEMTECH CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (in millions) (unaudited) |
||||||
|
January 26, 2025 |
|
January 28, 2024 |
|||
ASSETS |
|
|
|
|||
Current assets: |
|
|
|
|||
Cash and cash equivalents |
$ |
151.7 |
|
$ |
128.6 |
|
Accounts receivable, net |
|
162.5 |
|
|
134.3 |
|
Inventories |
|
163.6 |
|
|
145.0 |
|
Prepaid taxes |
|
13.5 |
|
|
12.0 |
|
Other current assets |
|
94.1 |
|
|
114.3 |
|
Total current assets |
|
585.5 |
|
|
534.2 |
|
Non-current assets: |
|
|
|
|||
Property, plant and equipment, net |
|
126.2 |
|
|
153.6 |
|
Deferred tax assets |
|
41.1 |
|
|
18.0 |
|
Goodwill |
|
533.1 |
|
|
541.2 |
|
Other intangible assets, net |
|
33.1 |
|
|
35.6 |
|
Other assets |
|
100.3 |
|
|
91.1 |
|
Total assets |
$ |
1,419.3 |
|
$ |
1,373.7 |
|
|
|
|
|
|||
LIABILITIES AND EQUITY (DEFICIT) |
|
|
|
|||
Current liabilities: |
|
|
|
|||
Accounts payable |
$ |
59.2 |
|
$ |
45.1 |
|
Accrued liabilities |
|
178.2 |
|
|
172.1 |
|
Current portion of long-term debt |
|
45.6 |
|
|
— |
|
Total current liabilities |
|
283.0 |
|
|
217.2 |
|
Non-current liabilities: |
|
|
|
|||
Deferred tax liabilities |
|
0.8 |
|
|
0.8 |
|
Long-term debt |
|
505.9 |
|
|
1,371.0 |
|
Other long-term liabilities |
|
87.1 |
|
|
92.0 |
|
Stockholders' equity (deficit) |
|
542.4 |
|
|
(307.4 |
) |
Noncontrolling interest |
|
— |
|
|
0.2 |
|
Total liabilities & equity (deficit) |
$ |
1,419.3 |
|
$ |
1,373.7 |
|
SEMTECH CORPORATION SUPPLEMENTAL CASH FLOW INFORMATION (in millions) (unaudited) |
|||||||||||||||||||
|
Q4'25 |
|
Q3'25 |
|
Q4'24 |
|
FY'25 |
|
FY'24 |
||||||||||
Net cash provided by (used in) operating activities |
$ |
33.5 |
|
|
$ |
29.6 |
|
|
$ |
13.9 |
|
|
$ |
58.0 |
|
|
$ |
(93.9 |
) |
Net capital expenditures |
|
(2.6 |
) |
|
|
(0.5 |
) |
|
|
(1.7 |
) |
|
|
(7.9 |
) |
|
|
(29.2 |
) |
Free cash flow |
$ |
30.9 |
|
|
$ |
29.1 |
|
|
$ |
12.2 |
|
|
$ |
50.1 |
|
|
$ |
(123.1 |
) |
SEMTECH CORPORATION SUPPLEMENTAL INFORMATION: RECONCILIATION OF GAAP TO NON-GAAP RESULTS (in millions, except per share data) (unaudited) |
|||||||||||||||||||
|
Q4'25 |
|
Q3'25 |
|
Q4'24 |
|
FY'25 |
|
FY'24 |
||||||||||
Gross margin (GAAP) |
52.0 |
% |
|
51.1 |
% |
|
(0.2 |
)% |
|
50.2 |
% |
|
34.1 |
% |
|||||
Share-based compensation |
0.3 |
% |
|
0.3 |
% |
|
0.3 |
% |
|
0.3 |
% |
|
0.2 |
% |
|||||
Amortization of acquired technology |
0.9 |
% |
|
1.0 |
% |
|
1.2 |
% |
|
1.0 |
% |
|
3.9 |
% |
|||||
Transaction and integration related costs, net |
— |
% |
|
— |
% |
|
— |
% |
|
— |
% |
|
0.3 |
% |
|||||
Restructuring and other reserves, net |
— |
% |
|
— |
% |
|
— |
% |
|
— |
% |
|
0.1 |
% |
|||||
Acquired technology impairments |
— |
% |
|
— |
% |
|
47.6 |
% |
|
— |
% |
|
10.5 |
% |
|||||
Amortization of inventory step-up |
— |
% |
|
— |
% |
|
— |
% |
|
— |
% |
|
0.4 |
% |
|||||
Adjusted gross margin (Non-GAAP) |
53.2 |
% |
|
52.4 |
% |
|
48.9 |
% |
|
51.5 |
% |
|
49.5 |
% |
|||||
|
Q4'25 |
|
Q3'25 |
|
Q4'24 |
|
FY'25 |
|
FY'24 |
||||||||||
Product development and engineering (GAAP) |
$ |
46.7 |
|
|
$ |
42.6 |
|
|
$ |
41.5 |
|
|
$ |
170.9 |
|
|
$ |
186.5 |
|
Share-based compensation |
|
(3.5 |
) |
|
|
(3.8 |
) |
|
|
(2.9 |
) |
|
|
(14.0 |
) |
|
|
(12.8 |
) |
Transaction and integration related costs, net |
|
— |
|
|
|
— |
|
|
|
(0.4 |
) |
|
|
— |
|
|
|
(2.0 |
) |
Adjusted product development and engineering (Non-GAAP) |
$ |
43.1 |
|
|
$ |
38.7 |
|
|
$ |
38.2 |
|
|
$ |
156.9 |
|
|
$ |
171.6 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Q4'25 |
|
Q3'25 |
|
Q4'24 |
|
FY'25 |
|
FY'24 |
||||||||||
Selling, general and administrative (GAAP) |
$ |
54.5 |
|
|
$ |
59.8 |
|
|
$ |
55.2 |
|
|
$ |
222.4 |
|
|
$ |
220.2 |
|
Share-based compensation |
|
(13.0 |
) |
|
|
(13.8 |
) |
|
|
(8.4 |
) |
|
|
(51.1 |
) |
|
|
(25.3 |
) |
Transaction and integration related costs, net |
|
(0.9 |
) |
|
|
(3.2 |
) |
|
|
(8.5 |
) |
|
|
(7.4 |
) |
|
|
(28.8 |
) |
Litigation costs, net |
|
(0.1 |
) |
|
|
(0.9 |
) |
|
|
— |
|
|
|
(1.2 |
) |
|
|
(0.2 |
) |
Adjusted selling, general and administrative (Non-GAAP) |
$ |
40.5 |
|
|
$ |
41.9 |
|
|
$ |
38.3 |
|
|
$ |
162.6 |
|
|
$ |
165.9 |
|
|
Q4'25 |
|
Q3'25 |
|
Q4'24 |
|
FY'25 |
|
FY'24 |
||||||||||
Operating expenses, net (GAAP) |
$ |
109.3 |
|
|
$ |
103.2 |
|
|
$ |
619.6 |
|
|
$ |
406.6 |
|
|
$ |
1,240.6 |
|
Share-based compensation |
|
(16.5 |
) |
|
|
(17.6 |
) |
|
|
(11.2 |
) |
|
|
(65.1 |
) |
|
|
(38.2 |
) |
Intangible amortization |
|
(0.1 |
) |
|
|
(0.1 |
) |
|
|
(0.3 |
) |
|
|
(0.9 |
) |
|
|
(14.9 |
) |
Transaction and integration related costs, net |
|
(0.9 |
) |
|
|
(3.2 |
) |
|
|
(8.9 |
) |
|
|
(7.4 |
) |
|
|
(30.8 |
) |
Restructuring and other reserves, net |
|
(0.4 |
) |
|
|
(0.7 |
) |
|
|
(9.2 |
) |
|
|
(4.9 |
) |
|
|
(23.8 |
) |
Litigation costs, net |
|
(0.1 |
) |
|
|
(0.9 |
) |
|
|
— |
|
|
|
(1.2 |
) |
|
|
(0.2 |
) |
Intangible impairments |
|
— |
|
|
|
— |
|
|
|
(39.6 |
) |
|
|
— |
|
|
|
(39.6 |
) |
Goodwill impairment |
|
(7.5 |
) |
|
|
— |
|
|
|
(473.8 |
) |
|
|
(7.5 |
) |
|
|
(755.6 |
) |
Adjusted operating expenses, net (Non-GAAP) |
$ |
83.7 |
|
|
$ |
80.6 |
|
|
$ |
76.5 |
|
|
$ |
319.6 |
|
|
$ |
337.5 |
|
SEMTECH CORPORATION SUPPLEMENTAL INFORMATION: RECONCILIATION OF GAAP TO NON-GAAP RESULTS (CONTINUED) (in millions, except per share data) (unaudited) |
|||||||||||||||||||
|
Q4'25 |
|
Q3'25 |
|
Q4'24 |
|
FY'25 |
|
FY'24 |
||||||||||
Operating income (loss) (GAAP) |
$ |
21.2 |
|
$ |
17.8 |
|
$ |
(620.0 |
) |
|
$ |
49.9 |
|
$ |
(944.3 |
) |
|||
Share-based compensation |
|
17.3 |
|
|
18.4 |
|
|
11.8 |
|
|
|
68.0 |
|
|
40.2 |
|
|||
Intangible amortization |
|
2.4 |
|
|
2.4 |
|
|
2.6 |
|
|
|
10.0 |
|
|
48.6 |
|
|||
Transaction and integration related costs, net |
|
0.9 |
|
|
3.2 |
|
|
8.9 |
|
|
|
7.4 |
|
|
33.0 |
|
|||
Restructuring and other reserves, net |
|
0.4 |
|
|
0.7 |
|
|
9.2 |
|
|
|
4.9 |
|
|
24.6 |
|
|||
Litigation costs, net |
|
0.1 |
|
|
0.9 |
|
|
— |
|
|
|
1.2 |
|
|
0.2 |
|
|||
Intangible impairments |
|
— |
|
|
— |
|
|
131.4 |
|
|
|
— |
|
|
131.4 |
|
|||
Goodwill impairment |
|
7.5 |
|
|
— |
|
|
473.8 |
|
|
|
7.5 |
|
|
755.6 |
|
|||
Amortization of inventory step-up |
|
— |
|
|
— |
|
|
— |
|
|
|
— |
|
|
3.3 |
|
|||
Adjusted operating income (Non-GAAP) |
$ |
49.8 |
|
$ |
43.4 |
|
$ |
17.8 |
|
|
$ |
149.0 |
|
$ |
92.7 |
|
|||
|
Q4'25 |
|
Q3'25 |
|
Q4'24 |
|
FY'25 |
|
FY'24 |
||||||||||
Operating margin (GAAP) |
8.5 |
% |
|
7.5 |
% |
|
(321.3 |
)% |
|
5.5 |
% |
|
(108.7 |
)% |
|||||
Share-based compensation |
6.9 |
% |
|
7.8 |
% |
|
6.1 |
% |
|
7.5 |
% |
|
4.6 |
% |
|||||
Intangible amortization |
0.9 |
% |
|
1.0 |
% |
|
1.3 |
% |
|
1.1 |
% |
|
5.6 |
% |
|||||
Transaction and integration related costs, net |
0.3 |
% |
|
1.4 |
% |
|
4.6 |
% |
|
0.8 |
% |
|
3.9 |
% |
|||||
Restructuring and other reserves, net |
0.2 |
% |
|
0.3 |
% |
|
4.8 |
% |
|
0.6 |
% |
|
2.8 |
% |
|||||
Litigation costs, net |
0.1 |
% |
|
0.3 |
% |
|
— |
% |
|
0.1 |
% |
|
— |
% |
|||||
Intangible impairments |
— |
% |
|
— |
% |
|
68.1 |
% |
|
— |
% |
|
15.1 |
% |
|||||
Goodwill impairment |
3.0 |
% |
|
— |
% |
|
245.6 |
% |
|
0.8 |
% |
|
87.0 |
% |
|||||
Amortization of inventory step-up |
— |
% |
|
— |
% |
|
— |
% |
|
— |
% |
|
0.4 |
% |
|||||
Adjusted operating margin (Non-GAAP) |
19.9 |
% |
|
18.3 |
% |
|
9.2 |
% |
|
16.4 |
% |
|
10.7 |
% |
|||||
|
Q4'25 |
|
Q3'25 |
|
Q4'24 |
|
FY'25 |
|
FY'24 |
||||||||||
Interest expense, net (GAAP) |
$ |
16.7 |
|
|
$ |
20.3 |
|
|
$ |
22.1 |
|
|
$ |
87.8 |
|
|
$ |
92.8 |
|
Amortization of deferred financing costs |
|
(1.5 |
) |
|
|
(2.1 |
) |
|
|
(2.4 |
) |
|
|
(8.3 |
) |
|
|
(7.3 |
) |
Write-off of deferred financing costs |
|
(7.7 |
) |
|
|
— |
|
|
|
— |
|
|
|
(13.2 |
) |
|
|
(4.4 |
) |
Interest rate swap termination |
|
3.6 |
|
|
|
— |
|
|
|
— |
|
|
|
3.6 |
|
|
|
— |
|
Investment income |
|
0.2 |
|
|
|
0.2 |
|
|
|
0.2 |
|
|
|
0.8 |
|
|
|
0.8 |
|
Adjusted interest expense, net (Non-GAAP) |
$ |
11.2 |
|
|
$ |
18.4 |
|
|
$ |
19.9 |
|
|
$ |
70.6 |
|
|
$ |
81.8 |
|
|
Q4'25 |
|
Q3'25 |
|
Q4'24 |
|
FY'25 |
|
FY'24 |
||||||||||
Loss on extinguishment of debt (GAAP) |
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
144.7 |
|
|
$ |
— |
||||
Loss on extinguishment of debt |
|
— |
|
|
— |
|
|
— |
|
|
(144.7 |
) |
|
|
— |
||||
Adjusted loss on extinguishment of debt (Non-GAAP) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
|
— |
||||
SEMTECH CORPORATION SUPPLEMENTAL INFORMATION: RECONCILIATION OF GAAP TO NON-GAAP RESULTS (CONTINUED) (in millions, except per share data) (unaudited) |
|||||||||||||||||||
|
Q4'25 |
|
Q3'25 |
|
Q4'24 |
|
FY'25 |
|
FY'24 |
||||||||||
GAAP net income (loss) attributable to common stockholders |
$ |
39.1 |
|
|
$ |
(7.6 |
) |
|
$ |
(642.4 |
) |
|
$ |
(161.9 |
) |
|
$ |
(1,092.0 |
) |
Adjustments to GAAP net income (loss) attributable to common stockholders: |
|
|
|
|
|
|
|
|
|
||||||||||
Share-based compensation |
|
17.3 |
|
|
|
18.4 |
|
|
|
11.8 |
|
|
|
68.0 |
|
|
|
40.2 |
|
Intangible amortization |
|
2.4 |
|
|
|
2.4 |
|
|
|
2.6 |
|
|
|
10.0 |
|
|
|
48.6 |
|
Transaction and integration related costs, net |
|
0.9 |
|
|
|
3.2 |
|
|
|
8.9 |
|
|
|
7.9 |
|
|
|
33.0 |
|
Restructuring and other reserves, net |
|
0.4 |
|
|
|
0.7 |
|
|
|
9.2 |
|
|
|
4.9 |
|
|
|
24.6 |
|
Litigation costs, net |
|
0.1 |
|
|
|
0.9 |
|
|
|
— |
|
|
|
1.2 |
|
|
|
0.2 |
|
Investment (gains) losses, reserves and impairments, net |
|
(0.2 |
) |
|
|
(0.2 |
) |
|
|
1.5 |
|
|
|
— |
|
|
|
3.1 |
|
Amortization of deferred financing costs |
|
1.5 |
|
|
|
2.1 |
|
|
|
2.4 |
|
|
|
8.3 |
|
|
|
7.3 |
|
Write-off of deferred financing costs |
|
7.7 |
|
|
|
— |
|
|
|
— |
|
|
|
13.2 |
|
|
|
4.4 |
|
Interest rate swap termination |
|
(3.6 |
) |
|
|
— |
|
|
|
— |
|
|
|
(3.6 |
) |
|
|
— |
|
Loss on extinguishment of debt |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
144.7 |
|
|
|
— |
|
Intangible impairments |
|
— |
|
|
|
— |
|
|
|
131.4 |
|
|
|
— |
|
|
|
131.4 |
|
Goodwill impairment |
|
7.5 |
|
|
|
— |
|
|
|
473.8 |
|
|
|
7.5 |
|
|
|
755.6 |
|
Amortization of inventory step-up |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
3.3 |
|
Total Non-GAAP adjustments before taxes |
|
34.0 |
|
|
|
27.5 |
|
|
|
641.6 |
|
|
|
262.2 |
|
|
|
1,051.9 |
|
Associated tax effect |
|
(39.3 |
) |
|
|
0.4 |
|
|
|
(2.8 |
) |
|
|
(33.9 |
) |
|
|
49.3 |
|
Equity method loss (income) |
|
0.6 |
|
|
|
— |
|
|
|
(0.1 |
) |
|
|
0.5 |
|
|
|
— |
|
Total of supplemental information, net of taxes |
|
(4.7 |
) |
|
|
27.9 |
|
|
|
638.7 |
|
|
|
228.9 |
|
|
|
1,101.1 |
|
Non-GAAP net income (loss) attributable to common stockholders |
$ |
34.5 |
|
|
$ |
20.3 |
|
|
$ |
(3.7 |
) |
|
$ |
67.0 |
|
|
$ |
9.1 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
GAAP diluted earnings (loss) per share |
$ |
0.43 |
|
|
$ |
(0.10 |
) |
|
$ |
(9.98 |
) |
|
$ |
(2.26 |
) |
|
$ |
(17.03 |
) |
Adjustments per above |
|
(0.03 |
) |
|
|
0.36 |
|
|
|
9.92 |
|
|
|
3.14 |
|
|
|
17.17 |
|
Non-GAAP adjusted diluted earnings (loss) per share |
$ |
0.40 |
|
|
$ |
0.26 |
|
|
$ |
(0.06 |
) |
|
$ |
0.88 |
|
|
$ |
0.14 |
|
Weighted-average number of shares used in computing diluted earnings (loss) per share: |
|
|
|
|
|
|
|
|
|
||||||||||
GAAP |
|
90,298 |
|
|
|
75,319 |
|
|
|
64,363 |
|
|
|
71,606 |
|
|
|
64,127 |
|
Non-GAAP |
|
87,053 |
|
|
|
78,581 |
|
|
|
64,363 |
|
|
|
76,244 |
|
|
|
64,284 |
|
SEMTECH CORPORATION SUPPLEMENTAL INFORMATION: RECONCILIATION OF GAAP TO NON-GAAP RESULTS (CONTINUED) (in millions, except per share data) (unaudited) |
|||||||||||||||||||
|
Q4'25 |
|
Q3'25 |
|
Q4'24 |
|
FY'25 |
|
FY'24 |
||||||||||
GAAP net income (loss) attributable to common stockholders |
$ |
39.1 |
|
|
$ |
(7.6 |
) |
|
$ |
(642.4 |
) |
|
$ |
(161.9 |
) |
|
$ |
(1,092.0 |
) |
Interest expense |
|
17.5 |
|
|
|
20.8 |
|
|
|
22.8 |
|
|
|
90.1 |
|
|
|
95.8 |
|
Interest income |
|
(0.8 |
) |
|
|
(0.5 |
) |
|
|
(0.7 |
) |
|
|
(2.3 |
) |
|
|
(3.1 |
) |
Loss on extinguishment of debt |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
144.7 |
|
|
|
— |
|
Non-operating (income) expense, net |
|
(2.0 |
) |
|
|
1.1 |
|
|
|
2.0 |
|
|
|
(0.3 |
) |
|
|
0.5 |
|
Investment impairments and credit loss reserves, net |
|
— |
|
|
|
— |
|
|
|
1.7 |
|
|
|
1.1 |
|
|
|
3.9 |
|
(Benefit) provision for income taxes |
|
(33.2 |
) |
|
|
4.0 |
|
|
|
(3.3 |
) |
|
|
(22.0 |
) |
|
|
50.5 |
|
Equity method loss (income) |
|
0.6 |
|
|
|
— |
|
|
|
(0.1 |
) |
|
|
0.5 |
|
|
|
— |
|
Share-based compensation |
|
17.3 |
|
|
|
18.4 |
|
|
|
11.8 |
|
|
|
68.0 |
|
|
|
40.2 |
|
Depreciation and amortization |
|
10.4 |
|
|
|
10.1 |
|
|
|
8.9 |
|
|
|
43.5 |
|
|
|
78.0 |
|
Transaction and integration related costs, net |
|
0.9 |
|
|
|
3.2 |
|
|
|
8.9 |
|
|
|
7.4 |
|
|
|
33.0 |
|
Restructuring and other reserves, net |
|
0.4 |
|
|
|
0.7 |
|
|
|
9.2 |
|
|
|
4.9 |
|
|
|
24.6 |
|
Litigation costs, net |
|
0.1 |
|
|
|
0.9 |
|
|
|
— |
|
|
|
1.2 |
|
|
|
0.2 |
|
Intangible impairments |
|
— |
|
|
|
— |
|
|
|
131.4 |
|
|
|
— |
|
|
|
131.4 |
|
Goodwill impairment |
|
7.5 |
|
|
|
— |
|
|
|
473.8 |
|
|
|
7.5 |
|
|
|
755.6 |
|
Amortization of inventory step-up |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
3.3 |
|
Adjusted EBITDA |
$ |
57.8 |
|
|
$ |
51.1 |
|
|
$ |
24.0 |
|
|
$ |
182.5 |
|
|
$ |
122.0 |
|
|
Q4'25 |
|
Q3'25 |
|
Q4'24 |
|
FY'25 |
|
FY'24 |
||||||||||
Operating margin (GAAP) |
8.5 |
% |
|
7.5 |
% |
|
(321.3 |
)% |
|
5.5 |
% |
|
(108.7 |
)% |
|||||
Share-based compensation |
6.9 |
% |
|
7.8 |
% |
|
6.1 |
% |
|
7.5 |
% |
|
4.6 |
% |
|||||
Depreciation and amortization |
4.0 |
% |
|
4.3 |
% |
|
4.6 |
% |
|
4.8 |
% |
|
8.9 |
% |
|||||
Transaction and integration related costs, net |
0.3 |
% |
|
1.4 |
% |
|
4.6 |
% |
|
0.8 |
% |
|
3.9 |
% |
|||||
Restructuring and other reserves, net |
0.2 |
% |
|
0.3 |
% |
|
4.8 |
% |
|
0.6 |
% |
|
2.8 |
% |
|||||
Litigation costs, net |
0.1 |
% |
|
0.3 |
% |
|
— |
% |
|
0.1 |
% |
|
— |
% |
|||||
Intangible impairments |
— |
% |
|
— |
% |
|
68.1 |
% |
|
— |
% |
|
15.1 |
% |
|||||
Goodwill impairment |
3.0 |
% |
|
— |
% |
|
245.6 |
% |
|
0.8 |
% |
|
87.0 |
% |
|||||
Amortization of inventory step-up |
— |
% |
|
— |
% |
|
— |
% |
|
— |
% |
|
0.4 |
% |
|||||
Adjusted EBITDA margin |
23.0 |
% |
|
21.6 |
% |
|
12.5 |
% |
|
20.1 |
% |
|
14.0 |
% |
|||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20250313228172/en/
Sara Kesten
Semtech Corporation
(805) 480-2004
webir@semtech.com
Source: Semtech Corporation
FAQ
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