Silicon Motion Technology Corporation · NASDAQ:SIMO
Silicon Motion Technology — Q4 2025 Earnings Presentation
17 slides from Silicon Motion Technology's earnings presentation, Feb 4, 2026
Slide 1: Silicon Motion 4Q25 Earnings Highlights
Silicon Motion 4Q25 Earnings Highlights NASDAQ: SIMO February 4, 2026
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, without limitation, statements regar
Slide 3: 4Q 2025 Operating Highlights
Agenda 4Q 2025 Operating Highlights Financial (Non-GAAP) Financial (GAAP) • Revenue = $278.5m (+15% QoQ, +46% Y/Y) • Revenue = $278.5m (+15% QoQ, +46% Y/Y) • Gross Margin = 49.2% (vs. 48.7% prior Qtr) • Gross Margin = 49.1% (vs. 48.6% prior Qtr) • Operating Exp = $83.2m (vs. $79.5m prior Qtr) • Oper
Slide 4: FY 2025 Operating Highlights
Agenda FY 2025 Operating Highlights Financial (Non-GAAP) Financial (GAAP) • Revenue = $885.6m (+10% Y/Y) • Revenue = $885.6m (+10% Y/Y) • Gross Margin = 48.3% (vs. 46.0% prior Yr) • Gross Margin = 48.3% (vs. 45.9% prior Yr) • Operating Exp = $295.6m (vs. $248.1m prior Yr) • Operating Exp = $334.5m (
Slide 5: Significant New Products Ramping
Significant New Products Ramping Client SSDs • SM2508 – High-performance 6nm 8-channel PCIe Gen5 SSD Controller • 8 NAND channels, 3,600 MT/s, 14GB/s sequential with ultra-low power consumption of 3.5W power consumption • SM2504XT – Mainstream 6nm 4-channel DRAM-less PCIeGen5 SSD Controller • SM2322
Slide 6: SSD Highlights
SSD Highlights • Shipping to six flash makers and nearly all module makers • New high-performance PCIe 5.0 SSD controller SM2508 – industry’s first merchant 6nm controller • Shipments began in 3Q24; wins with four flash makers and nearly all module makers • Achieved 15% of client SSD revenue in 3Q25
Slide 7: eMMC & UFS Highlights
eMMC & UFS Highlights • Shipping to all tier-one Android handset OEMs • Direct relationships with multiple NAND makers, module makers and smartphone OEMs • UFS 4.1 controller – development/qualification is on-going • Shipping new UFS 3.1 and UFS 2.2 controllers to the low-to-mid-range smartphone mar
Slide 8: Enterprise, Datacenter & AI Infrastructure Highlights
Enterprise, Datacenter & AI Infrastructure Highlights • MonTitan™ SM8366 based development platform has sampled over a dozen target customers including: • Tier-1 Datacenter and Enterprise Storage Customers • NAND Flash Manufactures • Module Makers/Ecosystem Partners • Achieved Design wins with six c
Slide 9: Revenue and Non-GAAP EPS Trends
Revenue and Non-GAAP EPS Trends REVENUE EPS 9
Slide 10: Non-GAAP Gross & Operating Margin Trends
Non-GAAP Gross & Operating Margin Trends Gross Margin Operating Margin 10
Slide 11: Balance Sheet and Capital Allocation
Balance Sheet and Capital Allocation ($ in millions) 2023 2024 2025 Cash, cash equivalents & 369.0 334.3 277.1 restricted cash Cash flow generated by 149.1 77.1 61.4 operating actvities Buybacks - - 24.3 Dividends 16.7* 67.3 67.2 Note: * Dividend discontinued due to merger agreement with Maxlinear 1
Slide 12: Target Financial Model
Target Financial Model 1Q 2026 Guidance • Revenue = $292m to $306m (+5% to 10% Q/Q) (+76% to 84% Y/Y) • Gross margin = 46.0 to 47.0% • Operating margin = 16.0 to 18.0% 2023 2024 2025 Long-Term Model Revenue 639 804 886 Robust Growth %YoY -32% +26% +10% Gross Margin 43% 46% 48% 48% to 50% Operating E
Slide 13: 4Q 2025 Non-GAAP P&L
4Q 2025 Non-GAAP P&L ($m) Q4 2024 Q3 2025 Q4 2025 %QoQ %YoY Revenue 191.2 100% 242.0 100% 278.5 100% 15% 46% Cost of sales 103.2 54% 124.2 51% 141.4 51% 14% 37% Gross profit 87.9 46% 117.8 49% 137.0 49% 16% 56% R&D 47.5 25% 65.6 27% 69.1 25% 5% 45% SG&A 10.8 6% 13.8 6% 14.1 5% 2% 31% Operating expen
Slide 14: FY 2025 Non-GAAP P&L
FY 2025 Non-GAAP P&L ($m) 2024 2025 %YoY Total Revenue 803.6 100% 885.6 100% 10% Cost of sales 434.3 54% 457.7 52% 5% Gross profit 369.3 46% 427.9 48% 16% R&D 206.5 26% 244.8 28% 19% SG&A 41.6 5% 50.8 6% 22% Operating expense 248.1 31% 295.6 33% 19% Operating profit 121.2 15% 132.3 15% 9% Other inco
Slide 15: 4Q 2025 Non-GAAP Reconciliation
4Q 2025 Non-GAAP Reconciliation ($m) Dispute Realized/Unrealized Non-GAAP % of Stock-Based Related Loss (Gain) on FX Gain GAAP % of Revenue Comp. Expenses Investments / (Loss) Revenue Revenue 278.5 100% 278.5 100% Cost of sales 141.4 51% 0.3 141.7 51% Gross profit 137.0 49% (0.3) 136.8 49% Research
Slide 16: FY 2025 Non-GAAP Reconciliation
FY 2025 Non-GAAP Reconciliation ($m) Dispute Realized/Unrealized Non-GAAP % of Stock-Based Related Loss (Gain) on FX Gain GAAP % of Revenue Comp. Expenses Investments / (Loss) Revenue Revenue 885.6 100% 885.6 100% Cost of sales 457.7 52% 0.4 458.1 52% Gross profit 427.9 48% (0.4) 427.5 48% Research
Slide 17: Thank You !
Thank You ! © 2021 Silicon Motion Technology Corporation. All Rights Reserved. FerriSSD, Ferri-eMMC, Shannon and Bigtera are trademarks of Silicon Motion registered in the United States, Taiwan, China and other countries. Other company, organization, and brand names may be trademarks or registered t
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