Silicom Earnings Call Transcripts
Fiscal Year 2025
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Q4 2025 revenue rose 17% year-over-year to $16.9 million, with strong design win momentum and a robust pipeline supporting double-digit growth expectations for 2026. Three new growth engines—AI inference, post-quantum cryptography, and white label switching—are in early stages, while the balance sheet remains strong with $74 million in cash and no debt.
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Q3 2025 saw strong design win momentum, with eight major wins year-to-date and revenue up 6% year-over-year to $15.6M. Gross margin reached 31.8%, and guidance anticipates double-digit growth in 2026, supported by robust customer engagement and a solid balance sheet.
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Q2 2025 revenue grew 4% year-over-year to $15M, with strong design win momentum and a robust balance sheet. Guidance calls for Q3 revenue of $15–16M and double-digit growth from 2026, driven by new wins in cloud, networking, and AI markets.
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Q1 2025 revenue and margins met targets, with improved losses and strong design win momentum. The company maintains a robust balance sheet, continues share buybacks, and expects low single-digit growth in 2025, accelerating to double digits in 2026.
Fiscal Year 2024
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Q4 2024 revenue declined year-over-year, but gross margin improved and cash generation remained strong. Design Win momentum and a robust pipeline support expectations for stable 2025 revenue and double-digit growth from 2026, with a strong balance sheet and active share repurchases.
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Q3 2024 revenue declined year-over-year due to customer inventory overhang, resulting in a net loss, but a strong balance sheet and expanding pipeline support long-term growth. Guidance anticipates flat near-term revenue, with significant growth expected from 2026 as new design wins ramp.
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Q2 2024 saw revenue and margins decline year-over-year amid prolonged sales cycles and customer inventory digestion. The company maintains a strong balance sheet, continues share buybacks, and expects flat revenues through 2025, with growth and break-even projected for 2026.