Synaptics Reports Third Quarter Fiscal 2026 Results

About this update from Synaptics Incorporated

Core IoT product sales increased 31% year-over-year Multiple additional design wins in Physical AI and robotics Q3'26 Financial Results SAN JOSE, Calif., May 07, 2026 (GLOBE NEWSWIRE) -- Synaptics Incorporated (Nasdaq: SYNA) today reported financial results for its third quarter of fiscal 2026 ended March 28, 2026. Net revenue for the third quarter of fiscal 2026 was $294.2 million. GAAP net loss for the third quarter of fiscal 2026 was $8.0 million, or a loss of $0.21 per basic share. Non-GAAP net income for the third quarter of fiscal 2026 was $44.1 million, or $1.09 per diluted share. “Synaptics delivered a solid third quarter of fiscal 2026, with double-digit year-over-year revenue growth driven by a 31% increase in Core IoT product sales. Revenue, non-GAAP gross margin, and non-GAAP EPS all exceeded the midpoints of our guidance, reflecting strong execution. Based on the mid-point of our fourth quarter outlook, we expect full year fiscal 2026 Core IoT revenue to grow more than 40% year-over-year to over $385 million. We are seeing accelerating activity in Physical AI and Edge AI, with increasing design wins and customer engagements. We continue to align our portfolio to capitalize on these emerging opportunities and remain confident in our ability to drive long-term growth," said Rahul Patel, Synaptics' President and Chief Executive Officer. Business Outlook Ken Rizvi, the Company's Chief Financial Officer, added, “As we enter the June quarter, our backlog is healthy and our current outlook reflects expected sequential and year-over-year revenue growth. We remain focused on disciplined execution. Our balance sheet is strong, providing the flexibility to invest in our organic growth initiatives.” The fourth quarter fiscal 2026 outlook information provided below is based on the Company’s current estimates and is not a guarantee of future performance. These statements are forward-looking and actual results may differ materially. Refer to the “Cautionary Statement Regarding Forward-Looking Statements” section below for information on the factors that could cause the Company’s actual results to differ materially from these forward-looking statements. For the fourth quarter of fiscal 2026, the Company expects: *        Projected Non-GAAP gross margin excludes $22.0 to $23.0 million in acqui...

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