Business
Semtech Announces Second Quarter of Fiscal Year 2026 Results
Record net sales of $257.6 million, representing 20% year-over-year growth GAAP gross margin of 52.1%, up from 49.0% a year ago and Non-GAAP adjusted gross
About this update from Semtech Corporation
[{"type":"text","content":"\n\nRecord net sales of $257.6 million, representing 20% year-over-year growth\n\n\n\nGAAP gross margin of 52.1%, up from 49.0% a year ago and Non-GAAP adjusted gross margin of 53.2%, up from 50.4% a year ago\n\n\n\nGAAP operating margin of (6.3)% compared to 3.6% a year ago and Non-GAAP adjusted operating margin of 18.8% compared to 14.2% a year ago\n\n\n\nGAAP diluted loss per share of $0.31 compared to a diluted loss per share of $2.61 a year ago and Non-GAAP adjusted diluted earnings per share of $0.41 compared to $0.11 a year ago\n\n\n\n CAMARILLO, Calif.--(BUSINESS WIRE)--\nSemtech Corporation (Nasdaq: SMTC), a leading provider of high-performance semiconductor, Internet of Things (\"IoT\") systems and cloud connectivity service solutions, today reported unaudited financial results for its second quarter of fiscal year 2026, which ended July 27, 2025.\n\n\n\"Our second quarter results reflect strong year-over-year financial performance, driven by deep customer engagement, operational discipline, and a culture of excellence,\" said Hong Hou, president and chief executive officer. \"We believe we are well positioned to capture the high-growth opportunities ahead, supported by targeted investments in our core businesses.\"\n\n\n\"Strong net sales growth and improving profitability translated to meaningful sequential and year-over-year increases in our operating and free cash flows,\" said Mark Lin, executive vice president and chief financial officer. \"In the second quarter, we accelerated our debt reduction, which combined with improving financial performance, resulted in further reduction to our net leverage ratio.\"\n\n\nSecond Quarter of Fiscal Year 2026 Results\n\n\n\n\n(in millions, except per share data)\n\n\n\n\n\n\nQ2'26\n\n\n\n\n\n\n \n\n\n\n\n\n\nQ1'26\n\n\n\n\n\n\n \n\n\n\n\n\n\nQ2'25\n\n\n\n\n\n\n\n\nGAAP Financial Results\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNet sales\n\n\n\n\n\n\n$\n\n\n\n\n\n\n257.6\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n251.1\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n215.4\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nGross margin\n\n\n\n\n\n\n \n\n\n\n\n\n\n52.1\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n52.3\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n49.0\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n...