Lattice Semiconductor (LSCC) came out with quarterly earnings of $0.15 per share, missing the Zacks Consensus Estimate of $0.19 per share. This compares to earnings of $0.45 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -21.05%. A quarter ago, it was expected that this chipmaker would post earnings of $0.24 per share when it actually produced earnings of $0.24, delivering no surprise.Over the last four quarters, the company ...

Financial Performance - Fourth quarter 2024 revenue was $117.4 million, a decrease of 31.2% year-over-year[4] - Full year 2024 revenue totaled $509.4 million, down 30.9% compared to 2023[5] - Revenue for the three months ended December 28, 2024, was $117.419 million, a decrease of 7.1% from $127.091 million in the previous quarter[24] - Net income for the year ended December 28, 2024, was $61.131 million, down from $259.061 million in the previous year, reflecting a significant decline[24] - GAAP net income for Q4 2024 was $16,514 thousand, compared to $7,190 thousand in Q3 2024, and $98,706 thousand for the year ended December 30, 2023[41] - Non-GAAP net income for Q4 2024 was $20,181 thousand, with a year-to-date total of $124,415 thousand, reflecting a significant increase from $62,801 thousand in the previous year[41] Margins and Expenses - GAAP gross margin for the fourth quarter was 61.1%, while non-GAAP gross margin was 62.1%[4] - Projected gross margin for Q1 2025 is expected to be 69.0% plus or minus 1% on a non-GAAP basis[13] - Gross margin for the same period was $71.753 million, resulting in a gross margin percentage of approximately 61%[24] - The company incurred stock-based compensation expenses of $13.7 million in Q4 2024, impacting both gross and operating margins[36] - Total operating expenses for the year ended December 28, 2024, were $305.9 million, with non-GAAP operating expenses at $215.6 million[36] Cash Flow and Assets - The company achieved a free cash flow margin of 33.8% in the fourth quarter of 2024[6] - Cash and cash equivalents increased to $136.291 million from $128.317 million year-over-year, showing a positive cash flow trend[26] - The company reported a net cash provided by operating activities of $140.876 million for the year ended December 28, 2024, compared to $269.588 million in the previous year[29] - The company reported a GAAP net cash provided by operating activities of $45,421 thousand for Q4 2024, with an operating cash flow margin of 38.7%[46] Research and Development - Research and development expenses for the three months ended December 28, 2024, were $38.580 million, compared to $41.398 million in the previous quarter, indicating a reduction in R&D spending[24] - The company’s R&D expense as a percentage of revenue was 32.9% for Q4 2024, compared to 32.6% in Q3 2024[33] Shareholder Actions - The board authorized an additional $100 million for share repurchases, reducing dilution by over 4.3% since Q4 2020[8] Awards and Recognition - Lattice received over 20 industry awards in 2024, including recognition as the Most Respected Semiconductor Company for five consecutive years[8] Operational Metrics - The company reported a DSO (Days Sales Outstanding) of 63 days for Q4 2024, an improvement from 66 days in Q3 2024[33] - The company’s inventory days (DIO) decreased to 207 days in Q4 2024, down from 242 days in Q3 2024[33] - Revenue from the Communications and Computing segment was $58.0 million, accounting for 49% of total revenue for the quarter[33] - The company’s revenue from Asia increased to 66% in Q4 2024, up from 63% in Q3 2024[33] - The Americas contributed 23% to total revenue in Q4 2024, a significant increase from 15% in Q3 2024[33] Financial Health - Total current assets as of December 28, 2024, were $364.834 million, slightly down from $367.946 million as of December 30, 2023[26] - Total liabilities decreased to $132.971 million as of December 28, 2024, from $148.874 million a year earlier, indicating improved financial health[26] - The company incurred an impairment of acquired intangible assets amounting to $13.929 million during the year ended December 28, 2024[29] - The company recognized an impairment of acquired intangible assets of $13,929 thousand in Q4 2024[46] Future Outlook - The company expects first quarter 2025 revenue to be between $115 million and $125 million[13]

Lattice Semiconductor Corporation (NASDAQ: LSCC ) is set to report Q4 ’24 earnings on February 10, 2025, after market close. The market has been relatively choppy for Lattice as non-AI-related semiconductors are facing a slower-than-expected recovery, as suggested byMichael Del Monte is a buy-side equity analyst with over 5 years of industry experience. Prior to working in the investment management industry, Michael spent over a decade in professional services working in industries that range from O&G, OFS, ...

Lattice Semiconductor (NASDAQ: LSCC ) reported Q3’24 earnings on November 4, 2024, largely in line with consensus estimates at $127.1mm in net revenue and an EPS of $0.24/share. The earnings call was driven by Lattice’s new CEO, FordMichael Del Monte is a buy-side equity analyst with over 5 years of industry experience. Prior to working in the investment management industry, Michael spent over a decade in professional services working in industries that range from O&G, OFS, Midstream, Industrials, Informati ...

Key TakeawaysLattice Semiconductor plans to cut 14% of its workforce as profit and sales slump.The chipmaker said it took a one-time $6.5 million charge as part of its cost-cutting moves.CEO Ford Tamer said the company continues to face "near-term industry headwinds." Lattice Semiconductor (LSCC) shares slid in early trading Tuesday after the company missed profit estimates and said it would slash jobs to cut costs. The maker of industrial and automotive chips reported third-quarter earnings per share (EPS) ...

Financial Data and Key Metrics - Q3 2024 revenue was $127.1 million, in line with guidance, up 2% sequentially but down 34% year-over-year due to inventory normalization [10][21] - Gross margin remained stable at 69% despite market softness [10][22] - Non-GAAP operating margin improved to 26.6% from 25.4% in the prior quarter, driven by disciplined expense management [23] - EBITDA margin increased to 33.7%, up 160 basis points sequentially [23] - Cash flow from operations more than doubled sequentially to $44 million, with free cash flow margin rising to 31% [24] - Q4 2024 revenue guidance is $112 million to $122 million, with gross margin expected to be 68% ±1% [25] Business Line Performance - Communications and computing revenue grew 12% sequentially, driven by strength in AI and general-purpose servers [10][21] - Industrial and automotive revenue declined 7% sequentially due to broader market demand softness and inventory normalization [10][21] - New product revenue continued to grow year-over-year, with strong design momentum and a robust backlog [11] Market Performance - The company outperformed peers in the small FPGA market segment, gaining market share [10] - Strong traction in Edge AI applications across servers, laptops, and industrial/automotive sectors, with design wins in top LiDAR companies and industrial vision panels [17] Strategy and Industry Competition - The company is focusing on low-power, small-size FPGA offerings, leveraging its leadership in the small to mid-range FPGA market [13] - A 14% workforce reduction was implemented to align resources with business needs and improve efficiency, with no impact on the product roadmap [14] - The company aims to achieve $1 billion in revenue by leveraging its addressable market and market opportunities [13] - Lattice is well-positioned in Edge AI, with applications in data center servers, AI-enabled clients, and industrial/automotive systems [17] Management Commentary on Operating Environment and Outlook - The company expects a U-shaped recovery in 2025, with low single-digit revenue growth and a return to 15%-20% growth targets by 2026 [12][58] - Management remains confident in the company's strategic plan, product differentiation, and market leadership [12] - The company anticipates double-digit earnings expansion in 2025, supported by cost reductions and revenue growth [15] Other Important Information - The company will host a Developers Conference in San Jose on December 10-11, showcasing its next-gen FPGA platforms and software tools [18] - Share buybacks continued in Q3, with $17 million repurchased, marking the 16th consecutive quarter of buybacks [24] Q&A Summary Question: Nexus product lifecycle and potential successor [27] - Nexus and Avant are driving strong revenue growth, with the company doubling down on both small and mid-range FPGA segments [28] Question: AI traction and sustainability [29] - AI-related revenue is estimated at around $100 million, with growing traction in servers, clients, and industrial/automotive applications [30] Question: U-shaped recovery and inventory normalization [32] - The company expects a U-shaped recovery, with inventory normalization expected by mid-2025 and revenue growth returning to 15%-20% by 2026 [33] Question: FPGA role in AI and networking [37] - Lattice FPGAs are used in various AI applications, including data center servers, IoT, and automotive, with a focus on low-power, small-size solutions [38] Question: Competitor performance comparison [41] - Lattice has outperformed competitors over the long term, gaining market share in the small to mid-range FPGA segment [42] Question: Workforce reduction impact [49] - The 14% workforce reduction is expected to benefit 2025 results, with high single-digit OpEx reduction and low double-digit EPS expansion [50] Question: Avant product rollout [52] - Avant remains on track, with strong design wins and expected revenue growth in 2025 [53] Question: Communications market outlook [54] - Communications revenue is expected to normalize and grow in the second half of 2025 [55] Question: Long-term growth targets [57] - The company reaffirmed its 15%-20% long-term revenue growth target, expecting to return to this range by 2026 [58] Question: Inventory visibility [59] - The company has good visibility into distributor inventory and expects it to normalize by mid-2025 [60][61] Question: Server content expansion [67] - Server content growth continues, with Lattice FPGAs designed into top server makers and increased demand expected in 2025 [67] Question: Design win pipeline [70] - The company has a strong pipeline of design wins across various applications, with no significant delays in product launches [71] Question: Workforce reduction details [73] - The workforce reduction was focused on optimizing resources across geographies, with no impact on the product roadmap [73]

Lattice Semiconductor (LSCC) came out with quarterly earnings of $0.24 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.53 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this chipmaker would post earnings of $0.24 per share when it actually produced earnings of $0.23, delivering a surprise of -4.17%.Over the last four quarters, the company has not been able to surpass consensus EPS estimates.Lattice, which bel ...

Exhibit 99.1 NEWS RELEASE CONTACTS MEDIA: INVESTORS: Sophia Hong Rick Muscha Lattice Semiconductor Corporation Lattice Semiconductor Corporation 503-268-8786 408-826-6000 Sophia.Hong@latticesemi.com Rick.Muscha@latticesemi.com LATTICE SEMICONDUCTOR REPORTS THIRD QUARTER 2024 RESULTS HILLSBORO, Ore. - November 4, 2024 - Lattice Semiconductor Corporation (Nasdaq: LSCC), the low power programmable leader, announced financial results today for the fiscal third quarter ended September 28, 2024. Revenue for the t ...

Lattice Semiconductor (LSCC) shares have lost 29% year to date (YTD), underperforming the broader Zacks Computer and Technology sector's return of 25%. It has also underperformed the Zacks Electronics- Semiconductors industry and peers, including Cirrus Logic (CRUS) , FormFactor (FORM) and Advanced Micro Devices (AMD) . Over the same time frame, shares of Cirrus Logic, FormFactor and AMD have gained 49.1%, 7.3% and 6.3%, respectively. The industry appreciated 40.8% YTD. In the trailing four quarters, LSCC's ...

Investors were disappointed with Lattice's declining revenue and earnings. Disappointing second-quarter results Management tried to highlight the "durability" of Lattice's business model by pointing to the fact that the gross margin was relatively stable in the quarter, dipping slightly to 68.3% from 69.7% in the year-ago quarter. Lattice's management issued a third-quarter revenue outlook of $117 million to $137 million, which represents a 33.8% decline from Q3 2023 sales at the midpoint of guidance. Reven ...