Core Viewpoint - Lattice Semiconductor (NASDAQ: LSCC) reported a significant turnaround in Q3 of fiscal year 2025, with revenue returning to a growth trajectory driven by strong core business performance and positive outlook for future AI business [1]. Financial Performance - Q3 revenue reached $133 million, representing a year-over-year increase of 4.9% and a quarter-over-quarter increase of 7.6%, ending a streak of seven consecutive quarters of year-over-year decline [2]. - Non-GAAP net profit was $38.2 million, up 17.2% year-over-year, with a Non-GAAP net profit margin of 28.6% [2]. Business Development - The communications and computing segment was the main growth driver, with revenue of $74 million, a year-over-year increase of 21%, accounting for 55% of total revenue [3]. - Growth was primarily driven by increased use cases in AI servers and general-purpose servers, as well as demand for wired data center infrastructure [3]. Future Outlook - The order volume for the quarter reached a six-quarter high, with the order-to-shipment ratio at its highest point in nearly a year and a half. Management indicated that orders are booked through the first half of 2026 [4]. - The company expects AI-related revenue to account for "teen" percentages in 2025, with plans to increase this to "twenty-something" percentages by 2026 [4]. Capital Movements - The company repurchased $15 million in stock during the quarter and has executed a buyback plan for 20 consecutive quarters [5].

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分组1 - Lattice Semiconductor reported quarterly earnings of $0.32 per share, matching the Zacks Consensus Estimate, and showing an increase from $0.15 per share a year ago, resulting in an earnings surprise of +0.53% [1] - The company achieved revenues of $145.79 million for the quarter ended December 2025, exceeding the Zacks Consensus Estimate by 1.63%, and up from $117.42 million year-over-year [2] - Lattice has surpassed consensus revenue estimates four times over the last four quarters, indicating a positive trend in revenue performance [2] 分组2 - The stock has gained approximately 19% since the beginning of the year, significantly outperforming the S&P 500's gain of 1.7% [3] - The current consensus EPS estimate for the upcoming quarter is $0.33 on revenues of $148.14 million, and for the current fiscal year, it is $1.47 on revenues of $631.01 million [7] - The Electronics - Semiconductors industry, to which Lattice belongs, is currently ranked in the top 25% of over 250 Zacks industries, suggesting a favorable outlook for the sector [8]

Financial Data and Key Metrics Changes - In Q4 2025, the company reported revenue of $145.8 million, representing a 9.3% sequential increase and a 24.2% year-over-year increase, marking the strongest sequential performance in seven years [10][16] - Full year revenue for 2025 was $523.3 million, a 2.7% increase from the previous year, driven by a 28% increase in communications and computing, while industrial and automotive revenue declined by 18% due to channel inventory normalization [14][15] - Non-GAAP gross margin expanded by 190 basis points to 69.3% in 2025, with non-GAAP operating margin increasing by 340 basis points [15] - Q1 2026 revenue guidance is set at $165 million at the midpoint, indicating over 37% year-over-year growth, with EPS guidance of $0.36 at the midpoint, representing nearly 65% year-over-year growth [10][21] Business Line Data and Key Metrics Changes - Communications and computing segments showed strong growth, with revenue up 28% year-over-year, while industrial and automotive segments faced an 18% decline [14][15] - New product revenue grew approximately 70% in 2025, with expectations for new product revenue to reach the mid-20% range as a percentage of total revenue in 2026 [11][12] Market Data and Key Metrics Changes - The company is experiencing accelerated design-win momentum in both data center AI and physical AI markets, with significant growth opportunities identified in various applications including security, industrial automation, and humanoid robotics [8][10] - The attach rate for FPGAs in server units is expected to exceed 3 units per server in 2026, with average selling prices (ASP) increasing from around $3 to above $4 [26][27] Company Strategy and Development Direction - The company aims to capitalize on trends in Data Center AI and Physical AI, positioning itself as a key player in providing low-power FPGAs that support critical system functions across various markets [5][8] - The 2026 slogan, "Go big, be great," reflects the company's ambition to invest in silicon, software, systems, and infrastructure to support growth at scale [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the demand environment, citing strong CapEx growth and improved visibility for 2026 and beyond [33][34] - The company is focused on maintaining supply chain stability and ensuring adequate inventory levels to meet customer demand, while also managing operational expenses effectively [21][22] Other Important Information - The company repurchased approximately 1.8 million shares or $100 million of its common stock in 2025, with an additional $250 million authorized for repurchase [19][18] - The balance sheet remains strong, with the company being debt-free and having ready access to capital for future investments [18] Q&A Session Summary Question: Can you discuss the dynamics in the data center business and growth relative to unit volumes versus dollars of content per server? - Management noted strong demand driven by CapEx growth, increasing attach rates, and ASP growth, with server units expected to grow from 15.3 million to 16.5 million in 2026 [26][27] Question: Can you provide guidance assumptions by segment for Q1? - Management expressed positivity about trends across all segments, with expectations for growth in communications and computing leading the way, and recovery in industrial and automotive [28][29] Question: How do you view the Physical AI opportunity? - Management highlighted significant momentum in Physical AI, with strong partnerships and design wins in various sectors, including aerospace defense and industrial robotics [35][36] Question: Are you seeing any increased competitive pressure in the data center? - Management emphasized a customer-first strategy, focusing on providing differentiated solutions, and noted that market share is expected to continue growing [59] Question: What keeps you up at night regarding potential derailments of the company’s plans? - Management indicated that the primary concern is executing ambitious plans and ensuring supply for customers, particularly in a tight supply environment [60] Question: Can you discuss the record level of design wins and their impact on revenue growth? - Management confirmed continued record design wins, supporting expectations for multi-year growth of at least 25% [65]

Financial Data and Key Metrics Changes - In Q4 2025, the company reported revenue of $145.8 million, representing a 9.3% sequential increase and a 24.2% year-over-year increase, marking the strongest sequential performance in seven years [10][16] - Full year revenue for 2025 was $523.3 million, a 2.7% increase from the previous year, driven by a 28% increase in communications and computing, while industrial and automotive revenue declined by 18% [14][15] - Non-GAAP gross margin expanded by 190 basis points to 69.3% in 2025, with non-GAAP operating margin increasing by 340 basis points [15] - Q1 2026 revenue guidance is set at $165 million at the midpoint, indicating over 37% year-over-year growth, with EPS guidance of $0.36 at the midpoint, representing nearly 65% year-over-year growth [10][21] Business Line Data and Key Metrics Changes - Communications and computing segments showed strong growth, with revenue up 28% in 2025, while industrial and automotive segments faced an 18% decline due to inventory normalization [14][15] - New product revenue grew approximately 70% in 2025, with expectations for new product revenue to reach the mid-20% range as a percentage of total revenue in 2026 [11][12] Market Data and Key Metrics Changes - The company is experiencing accelerated design-win momentum in both data center AI and physical AI, with significant growth opportunities in various applications including security, industrial automation, and humanoid robotics [8][10] - The demand environment is strong across all major markets, with a notable increase in design wins in aerospace defense and industrial robotics [37][38] Company Strategy and Development Direction - The company aims to capitalize on trends in Data Center AI and Physical AI, positioning itself as a key player in providing low-power FPGAs that support critical system functions [5][8] - Investments are being made across silicon, software, systems, operations, and infrastructure to support growth and extend leadership in small and mid-range FPGAs [12][18] - The slogan for 2026, "Go big, be great," reflects the company's ambition and commitment to growth [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a strong recovery and accelerated momentum, supported by a strong backlog and durable demand in data centers [12][21] - The company is focused on executing its strategy and making investments to strengthen its leadership position, with a commitment to delivering long-term shareholder value [12][23] Other Important Information - The company repurchased approximately 1.8 million shares or $100 million of its common stock in 2025, with an additional $250 million authorized for repurchase [19][18] - The balance sheet remains strong, with the company being debt-free and having ready access to capital for future investments [18] Q&A Session Summary Question: Can you discuss the dynamics in the data center and your growth relative to unit volumes versus dollars of content per server? - Management noted strong demand driven by CapEx growth, increased attach rates, and higher average selling prices (ASP), with server units expected to grow from 15.3 million to 16.5 million in 2026 [26][27] Question: Can you provide guidance for Q1 by segment? - Management expressed positivity about trends across the business, with expectations for growth in communications and computing leading the way, and recovery in industrial and automotive segments [29] Question: How do you view the Physical AI opportunity? - Management highlighted significant momentum in Physical AI, with strong partnerships and design wins in various sectors, indicating vast potential for growth [35][38] Question: Are you seeing increased competitive pressure in the data center? - Management emphasized a customer-first strategy, focusing on providing differentiated solutions, and noted that market share is expected to continue growing [59] Question: What keeps you up at night regarding potential derailments of the company's growth story? - Management indicated that the primary concern is self-execution on ambitious plans and ensuring supply for customers [60] Question: Can you discuss the record level of design wins and their impact on revenue growth? - Management confirmed continued record design wins, supporting expectations for multi-year growth of at least 25% [65] Question: What are the criteria for larger M&A opportunities? - Management stated that any larger acquisition would need to be strategic, accretive, and aligned with the company's goals, while also being patient given the current strong organic growth [86]

Lattice Semiconductor (NasdaqGS:LSCC) Q4 2025 Earnings call February 10, 2026 05:00 PM ET Speaker7Greetings and welcome to the Lattice Semiconductor fourth quarter and full year 2025 earnings call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure ...

FY'25 Earnings Highlights February 2026 NASDAQ: LSCC Q4 2025 Earnings Overview & Recent Highlights REVENUE FY 2025 Earnings Overview & Recent Highlights $145.8M 9.3% Growth QoQ "2025 was a pivotal year where we delivered on what we said we would do: stabilized revenue, normalized channel inventories, and drove exceptional data center growth, with server revenues up approximately 85% year over year. We advanced our leadership product roadmap, strengthened our software and solutions, and secured design wins a ...

Financial Performance - Revenue for the full year 2025 was $523.3 million, with a GAAP gross margin of 68.2% and a non-GAAP net income per diluted share of $1.05[5] - Fourth quarter revenue was $145.8 million, representing a 24.2% year-over-year increase, with a GAAP net loss of $(7.6) million[6] - Server revenues increased approximately 85% year-over-year, driven by strong data center growth[7] - New product revenue grew approximately 70% compared to 2024, with a record total number of design wins[9] - Revenue guidance for the first quarter of 2026 is expected to be between $158 million and $172 million[14] - Revenue for the three months ended January 3, 2026, was $145.8 million, a 9.8% increase from $133.3 million for the same period in 2025[22] - The company reported a GAAP net income for the three months ended January 3, 2026, was a loss of $7.645 million, compared to a profit of $2.794 million for the same period in 2025[37] - Non-GAAP net income for the three months ended January 3, 2026, was $43.725 million, up from $38.157 million in the previous year, representing a 4.1% increase[37] Margins and Expenses - Adjusted EBITDA margin for the full year 2025 was 35.0%, an increase of 320 basis points from the previous year[8] - Non-GAAP gross margin for Q1 2026 is expected to be 69.5% plus or minus 1%[14] - Gross margin for the three months ended January 3, 2026, was $99.9 million, resulting in a gross margin percentage of 68.5%, compared to 67.8% in the previous year[22] - GAAP Gross Margin for Q1 2026 was $99,937, representing a 10.5% increase from $90,527 in Q4 2025[31] - Non-GAAP Gross Margin for Q1 2026 was $101,213, up from $92,633 in Q4 2025, indicating a strong performance[31] - GAAP R&D Expense as a percentage of revenue was 36.7% in Q1 2026, slightly down from 37.2% in Q4 2025[31] - Non-GAAP R&D Expense percentage improved to 24.8% in Q1 2026 from 24.2% in Q4 2025[31] - GAAP Operating Expenses for Q1 2026 totaled $98,851, an increase from $92,061 in Q4 2025[34] - Non-GAAP Operating Expenses for Q1 2026 were $56,394, compared to $53,900 in Q4 2025, reflecting ongoing investment in operations[34] Cash Flow and Investments - Operating cash flow margin for Q4 2025 was 39.5%, with free cash flow of $44.0 million[6] - Cash flows from operating activities for the year ended January 3, 2026, were $175.1 million, compared to $140.9 million in the previous year, indicating a 24.3% increase[27] - Free cash flow for the year ended January 3, 2026, was $132.580 million, an increase from $119.891 million in 2024, indicating a growth of 10.3%[45] - Capital expenditures for the year ended January 3, 2026, were $42.527 million, up from $20.985 million in 2024[45] Stockholder Activities - The company repurchased $100 million of its common stock in 2025, with an additional $250 million authorized for repurchase[9] - The company repurchased $100 million of common stock during the year ended January 3, 2026, compared to $67 million in the previous year[27] Geographic and Sector Performance - The company’s revenue by geography showed Asia contributing 73% for the three months ended January 3, 2026, up from 65% in the same period in 2025[29] - The communications and computing sector accounted for 64% of total revenue for the three months ended January 3, 2026, compared to 55% in the previous year[29] Other Financial Metrics - The cumulative effect of non-GAAP Gross Margin and Operating adjustments was 30.0% in Q1 2026, slightly down from 30.2% in Q4 2025[34] - Adjusted EBITDA for the year ended January 3, 2026, was $182.955 million, compared to $161.966 million in 2024, reflecting a growth of 12.1%[40] - GAAP net income margin for the three months ended January 3, 2026, was -5.2%, while the adjusted EBITDA margin was 36.5%[44] - Stock-based compensation for the three months ended January 3, 2026, amounted to $35.619 million, compared to $35.978 million in the previous year[40] - The cumulative effect of non-GAAP adjustments for the three months ended January 3, 2026, was $0.38 per share, compared to $0.26 per share in the previous year[40] - Basic shares used in per share calculations for the three months ended January 3, 2026, were 136,718 thousand, compared to 136,877 thousand in the previous year[40]

Corporate Overview February 2026 1 | Lattice Semiconductor (NASDAQ: LSCC) Safe Harbor Statement Forward-Looking Statements: This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Any statements about our expectations, beliefs, plans, objectives, assumptions or future events or performance ...

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