Semtech Announces Fourth Quarter and Fiscal Year 2023 Results

About this update from Semtech Corporation

[{"type":"text","content":" CAMARILLO, Calif.--(BUSINESS WIRE)--\nSemtech Corporation (Nasdaq: SMTC), a high-performance semiconductor, IoT systems and Cloud connectivity service provider, today reported unaudited financial results for its fourth quarter and fiscal year 2023, which ended January 29, 2023.\n\nHighlights for the Fourth Quarter of Fiscal Year 2023\n\n\nCompleted the acquisition of Sierra Wireless, a leading IoT connectivity solution provider, for total purchase price consideration of $1.3 billion\n\n\n\nSemtech, excluding the results of Sierra Wireless (\"Semtech Organic\"), net sales of $152.5 million, better than the midpoint of the Company's guidance. Sierra Wireless-only post-acquisition net sales of $15.0 million\n\n\n\nSemtech Organic GAAP gross margin of 63.5%, and non-GAAP gross margin of 64.7%\n\n\n\nRecord 10G PON net sales\n\n\n\nLoRa®-enabled net sales of $40.8 million\n\n\n\nAmazon expands their commitment to LoRa with the opening of the Sidewalk network to device makers and developers, as well as new AWS services for LoRa and LoRaWAN®\n\n\nHighlights for Fiscal Year 2023\n\n\nRecord Semtech Organic net sales of $741.5 million\n\n\n\nCombined Semtech and Sierra Wireless net sales of $756.5 million\n\n\n\nSemtech Organic GAAP gross margin of 64.1%, an increase of 190 bps year-over-year\n\n\n\nSemtech Organic non-GAAP gross margin of 65.1%, an increase of 180 bps year-over-year\n\n\n\nSemtech Organic GAAP and non-GAAP operating margins of 20.8% and 28.7%, respectively\n\n\n\nSemtech Organic GAAP diluted earnings per share of $1.78 and record non-GAAP diluted earnings per share of $2.82\n\n\n\nRecord LoRa-enabled revenue of $187 million, up 40% year-over-year\n\n\n\nCumulative LoRa-connected end points of approximately 300 million units\n\n\n\nRecord Signal Integrity product group net sales of approximately $304 million, up 4.5% driven by the continued growth of PON-X™\n\n\n\nRecord Industrial Telecom and Automotive net sales of $80.1 million, or 9.3% growth year-over-year\n\n\n\nTri-Edge™ selected by major North American Hyperscale Data Center Provider in a new, high-volume, multi-year program beginning in the second half of fiscal year 2024\n\n\nResults on a GAAP basis for the Fourth Quarter and Fiscal Year 2023\n\n($ in millions, except for diluted (loss) earnings per share data)\n\n\n\n \n\n\n\n \n\n\n\nQ4 FY2023\n\n\n\n \n\n\n...

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