Semtech (SMTC) Reports Strong Q1 2025 Results

Semtech Corporation has reported its unaudited financial results for the first quarter of fiscal year 2025, which ended on April 28, 2024. The company's net sales for the quarter were $206.1 million, exceeding the high-end of the guidance range. The GAAP gross margin was reported at 48.3%, while the non-GAAP gross margin was 49.8%, both of which were above the midpoint of the guidance.

Comparing to the same period last year, the GAAP operating expenses decreased by 16% to $96.4 million, and the non-GAAP operating expenses decreased by 17% to $77.4 million. The GAAP net loss attributable to common stockholders was $23.2 million, while the non-GAAP net income attributable to common stockholders was $4.1 million. This led to a GAAP diluted loss per share of $0.36 and a non-GAAP diluted earnings per share of $0.06, both above the high-end of the guidance range.

The adjusted EBITDA for the first quarter was reported at $33.1 million, surpassing the high-end of the guidance range.

Looking ahead, for the second quarter of fiscal year 2025, the company is expecting net sales of $212.0 million, with a non-GAAP gross margin of 50.0% and non-GAAP operating expenses of $77.5 million.

Today the company's shares have moved 3.5% to a price of $38.68. If you want to know more, read the company's complete 8-K report here.

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