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Synaptics Inc. (NASDAQ: SYNA) is leading the revolution in human interface solutions for intelligent devices. Specializing in touch, display, and biometrics, Synaptics offers a broad portfolio of products that enhance user experiences across mobile, PC, automotive, and IoT sectors. The company's cutting-edge technologies power interfaces for touch, display, fingerprint, video, audio, voice, AI, and connectivity functions, ensuring intuitive interactions with electronic devices.
Synaptics leverages a robust R&D foundation and extensive intellectual property to deliver innovative solutions that combine functionality, ease of use, and aesthetic appeal. The company derives a significant portion of its revenue from China and operates in a single segment dedicated to developing, marketing, and selling semiconductor products used in various electronic devices.
Recent financial results indicate a period of stabilization and strategic growth. For the first quarter of fiscal 2024, Synaptics reported net revenue of $237.7 million and a GAAP net loss of $55.6 million. However, on a non-GAAP basis, the company achieved a net income of $20.3 million. In the second quarter, Synaptics' net revenue was $237.0 million, with a GAAP net loss of $9.0 million and a non-GAAP net income of $22.5 million. The third quarter continued this trend with net revenue of $237.3 million and a GAAP net loss of $18.1 million, but a non-GAAP net income of $21.0 million.
Synaptics is proactively addressing inventory challenges and focusing on growth in its Core IoT segment, particularly with its wireless product family. The recent launch of the Astra™ platform positions the company to capitalize on a $20 billion market opportunity for embedded edge AI processors in IoT devices.
The company's strategic partnerships and product innovations, such as the collaboration with Valens Semiconductor and Good Way Technology, demonstrate its commitment to expanding its market presence and delivering advanced connectivity solutions. Synaptics' DisplayLink technology, integrated into new products, offers simplified, cost-effective solutions for video conferencing and video wall markets.
With a strong balance sheet and positive cash flow, Synaptics is well-equipped to invest in future growth and navigate macroeconomic challenges. The company's long-term initiatives, including advancements in AI and connectivity technologies, are set to drive sustained growth and innovation in the coming years.
Synaptics Incorporated (SYNA) reported robust Q2 2021 results with revenues of $357.6 million, surpassing expectations. The company achieved a GAAP gross margin of 42.1% and a record non-GAAP gross margin of 52.1%. GAAP diluted EPS reached $1.36, while non-GAAP diluted EPS hit $2.30. The IoT segment emerged as the largest revenue contributor, with both IoT and PC businesses posting record earnings. Looking ahead, Synaptics expects Q3 revenue between $310M and $340M and continued strength in gross margins despite supply chain limitations.
Synaptics has announced the customer sampling of its VideoSmart™ VS640, a next-gen edge computing SoC designed for set-top boxes, streaming devices, and smart displays. Built on a proven architecture and leveraging AI, the VS640 promises enhanced user experience with its integrated features, including CPU, GPU, and audio DSP. It supports next-gen video formats, and offers robust security with SyKURE and SyNAP technologies. This product aims to expand Synaptics’ application range and improve market competitiveness.
Synaptics (NASDAQ: SYNA) will announce its financial results for Q2 fiscal 2021 on February 4, 2021, after market close. A conference call for analysts and investors will take place at 2:00 p.m. PT (5:00 p.m. ET) to discuss potential forward-looking information. Participants can join by calling 1-833-614-1539 with conference ID 8899476. An archived webcast will be available on the Investor Relations section of Synaptics' website. The telephonic replay will be accessible until February 11, 2021.
Synaptics has launched the Katana Edge AI platform in partnership with Eta Compute to target the demand for battery-powered devices in the IoT market. This platform integrates low-power SoC architecture with efficient AI software, optimizing for various applications like object recognition and environmental sensing. The Katana features a multi-core processor and is designed for low latency. Co-optimized with TENSAI Flow software, the platform aims to accelerate deployment through application-focused kits, enhancing innovation in a multi-billion dollar market.
Synaptics announced participation in four investor conferences. Jason Tsai will attend the Wells Fargo 2020 TMT Summit on December 1, 2020. Michael Hurlston, CEO, will present at the Credit Suisse Technology Conference on December 2, 2020, with a live webcast available on Synaptics' investor website. Dean Butler, CFO, will attend the Barclays Conference on December 9, 2020, and present at the Needham Growth Conference on January 12, 2021. This engagement emphasizes Synaptics' commitment to investor relations and enhancing market visibility for its innovative technology solutions.
Synaptics reported its Q1 2021 financial results with revenue of $328.4 million, exceeding guidance. The GAAP gross margin was 41%; non-GAAP gross margin was 49.7%. The company posted a GAAP diluted loss per share of $0.08 but a non-GAAP diluted earnings per share of $1.85. Cash and short-term investments totaled $243.9 million. Looking ahead, Synaptics anticipates Q2 revenue between $340 million and $370 million with strong demand, particularly from IoT products, projecting non-GAAP gross margins above 50%.
Synaptics (SYNA) will report its financial results for Q1 fiscal 2021 on November 5, 2020, after market close. The company will host a conference call for analysts and investors at 2:00 p.m. PT (5:00 p.m. ET) to discuss the results and provide forward-looking information. Participants can join the call by dialing 1-833-614-1539, and a live webcast will also be available on the company's website. A telephonic replay of the call will be accessible until November 12, 2020.
Synaptics (SYNA) has announced it will power its San José headquarters with 100% renewable energy through the TotalGreen program by San Jose Clean Energy. This initiative aims to reduce the company's carbon footprint and aligns with its goal to use 50% renewable energy globally by 2022. Synaptics has also upgraded HVAC systems, increased data center temperatures, and switched to LED lighting to enhance energy efficiency. The TotalGreen service offers emission-free energy sourced from solar generation, contributing to San José's climate action plan.
Synaptics reported Q4 FY2020 revenue of $277.6 million, driven by a GAAP gross margin of 43.9% and a non-GAAP gross margin of 46.9%. The company achieved a GAAP diluted EPS of $2.55 and a non-GAAP diluted EPS of $1.24, marking record full-year earnings. The fourth quarter results included a pre-tax gain of $105 million from divesting the Mobile LCD TDDI business, yielding $139 million in cash proceeds. With $763.4 million in cash and operational cash flow of $53.5 million, Synaptics expresses optimism for FY2021 driven by recent acquisitions.
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