Synaptics Earnings Call Transcripts
Fiscal Year 2026
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The company is accelerating its focus on Edge AI and Physical AI, reporting strong IoT growth and expanding its AI-native Astra processor family. Major design wins in robotics and semi-custom projects are set to ramp from 2027, with Astra expected to boost gross margins despite input cost pressures.
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Q3 revenue grew 10% year-over-year to $294.2M, led by 31% growth in core IoT. Non-GAAP EPS rose 21% to $1.09. Strong Edge AI and robotics momentum, with Astra processor ramp expected in 2027. Q4 revenue guided to $305M midpoint.
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Q2 FY26 revenue grew 13% year-over-year, led by 53% growth in core IoT, with non-GAAP EPS up 32%. New Edge AI products and design wins position the company for sustained growth, while guidance anticipates Q3 revenue of $290 million and stable gross margins.
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The discussion highlighted a strategic shift toward edge AI, with the Astra platform offering unique, low-power AI processing and strong open source integration. Growth is driven by industrial, consumer, and robotics applications, with significant partnerships and new wireless solutions expanding market reach. Astra’s general availability is expected soon.
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Q1 FY26 saw 14% revenue growth and 35% EPS growth, led by a 74% surge in core IoT. The launch of Astra edge AI processors and strong design win momentum position the company for continued expansion, with Q2 revenue guided to $300M and robust IoT growth expected.
Fiscal Year 2025
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AI and edge computing are driving new opportunities, with a focus on hybrid compute and agentic IoT systems. Strategic partnerships with Google and Broadcom underpin a differentiated product roadmap, while strong IoT growth and capital returns are expected through 2027.
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Core IoT and Edge AI are driving strong growth, with the Astra platform and Google partnership positioning the company ahead of competitors. Wi-Fi 7/8 and new processor architectures expand market opportunities, while a focus on high-margin products and strategic investments supports long-term financial targets.
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The meeting established a quorum and approved all proposals, including director elections, auditor ratification, amendments to compensation and stock plans, and executive pay. Final voting results will be filed with the SEC.
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Core IoT and Edge AI are central to the growth strategy, with strong design win momentum and a unique partnership with Google. Fiscal 2025 saw robust revenue and EPS growth, and the company is investing in integrated solutions and maintaining a 57% long-term margin target.
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Fiscal 2025 revenue rose 12% to $1.074B, led by 53% Core IoT growth. Q4 revenue and EPS exceeded guidance, with strong wireless and Wi-Fi 7 momentum. New Edge AI products and a $200M Broadcom asset acquisition position the company for continued expansion.
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Revenue and earnings are growing, led by Core IoT and new product cycles in AI, Wi-Fi 7, and embedded IoT. Lean inventories, strong backlog, and minimal tariff impact support near-term visibility, while investments in go-to-market and technology position for long-term growth above market rates.
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Q3 FY2025 revenue rose 12% year-over-year to $266.6M, with core IoT up 43% and non-GAAP EPS up 70%. Q4 guidance calls for $280M revenue at midpoint, with continued strength in IoT and new product launches in wireless and processors.
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Q2 revenue grew 13% year-over-year to $267M, driven by Core IoT and enterprise strength. The $198M Broadcom deal expands wireless offerings and is expected to add $40M+ in annualized sales. Sequential revenue growth is anticipated through 2025, with strong design win momentum and new partnerships.
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The company has successfully transitioned to an IoT-focused model, expanding its Core IoT funnel and launching new wireless and AI-enabled products. A strategic partnership with Google positions its Astra platform as a leader in edge AI, while Wi-Fi 7 and Bluetooth launches open new markets. Financially, debt reduction and disciplined capital allocation support ongoing growth.
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Revenue grew 8% year-over-year, led by 55% growth in core IoT, with improved margins and strong EPS. Guidance calls for continued sequential growth, with new product ramps in Wi-Fi 7 and edge AI processors, and $150 million allocated for share repurchases.
Fiscal Year 2024
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The meeting covered director elections, auditor ratification, an equity plan amendment, and executive compensation, with all proposals approved by majority vote. No questions were raised by shareholders during the session.
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Fiscal 2024 revenue declined 29% year-over-year, but Q4 showed sequential and annual growth, led by a 63% year-over-year increase in Core IoT revenue. Inventory issues have been resolved, and double-digit growth is expected in Core IoT and wireless for fiscal 2025.