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Mar 29
Lattice Q1 2025 Earnings Report
Lattice posted sequential revenue growth with margin improvements, supported by strong demand in AI, automotive, and security applications.
Key Takeaways
Lattice Semiconductor delivered a solid Q1 2025 performance, growing revenue to $120.1 million and improving adjusted EBITDA margin to 33.4%. The company reported a GAAP net income of $5.0 million and generated $23.3 million in free cash flow.
Revenue rose to $120.1 million, up from Q4 2024.
Non-GAAP EPS reached $0.22, significantly higher than GAAP EPS of $0.04.
Adjusted EBITDA margin expanded to 33.4%.
Momentum driven by design wins in AI, automotive, and security markets.
Lattice
Lattice
Lattice Revenue by Segment
Lattice Revenue by Geographic Location
Forward Guidance
Lattice projects Q2 2025 revenue between $118.5M and $128.5M with stable margins and profitability.
Positive Outlook
- Revenue guidance of $118.5M–$128.5M indicates stable outlook.
- Non-GAAP gross margin expected around 69% ±1%.
- Non-GAAP EPS forecasted between $0.22 and $0.26.
- Total operating expenses expected to stay within $50.5M–$52.5M.
- Non-GAAP income tax rate projected between 5% and 6%.
Challenges Ahead
- Market and industry conditions could impact future performance.
- Inventory days rose YoY, potentially signaling excess supply.
- Free cash flow margin dropped from prior quarter.
- Net income margin declined significantly YoY.
- Continued macroeconomic uncertainty may affect demand.
Revenue & Expenses
Visualization of income flow from segment revenue to net income