Silicon Laboratories Inc. has recently released its 10-Q report, providing a comprehensive overview of its financial and operational performance. The company, headquartered in Austin, Texas, specializes in providing analog-intensive mixed-signal solutions, including wireless microcontrollers and sensor products, for various applications in the industrial Internet of Things (IoT) and commercial IoT markets. Silicon Laboratories Inc. operates as a fabless semiconductor company, relying on third-party semiconductor fabricators in Asia, the United States, and Europe to manufacture its integrated circuit designs.
In the recent quarter, Silicon Laboratories Inc. reported a significant increase in revenues, which amounted to $177.7 million, marking a 67.0% increase compared to the same period in the previous fiscal year. This growth was primarily driven by increased revenues from both its Industrial & Commercial products, which saw a $30.7 million increase, and its Home & Life products, which experienced a substantial $40.6 million increase. The company's gross profit also showed a notable improvement, reaching $97.8 million, representing a 55.0% gross margin, up from 51.8% in the first quarter of fiscal 2024.
However, the company's operating expenses increased by $15.7 million in the recent quarter, mainly due to higher personnel-related costs. As a result, Silicon Laboratories Inc. reported an operating loss of $32.1 million, an improvement from the operating loss of $59.1 million in the first quarter of fiscal 2024.
At the end of the first quarter of fiscal 2025, the company held $424.8 million in cash, cash equivalents, and short-term investments. Additionally, Silicon Laboratories Inc. reported net cash provided by operating activities of $48.1 million during the current year three-month period. The company's accounts receivable stood at $52.1 million, representing 26 days sales outstanding, while its inventory amounted to $83.4 million, representing 94 days of inventory.
Notably, during the three months ended April 5, 2025, Silicon Laboratories Inc. had no customer that represented more than 10% of its revenues. The company also highlighted that 91% of its revenues were derived from customers outside of the United States, with all revenues denominated in U.S. dollars.
In terms of financial performance, Silicon Laboratories Inc. reported a provision for income taxes of $1.9 million for the three months ended April 5, 2025, compared to a benefit for income taxes of $0.4 million for the three months ended March 30, 2024. This change was primarily attributed to tax expense associated with the increase in the U.S. and Singapore valuation allowance in the recent quarter.
Following these announcements, the company's shares moved 7.91%, and are now trading at a price of $126.31. Check out the company's full 10-Q submission here.
