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Jul 01, 2023
Lattice Q2 2023 Earnings Report
Revenue and profitability grew year-over-year, with revenue increasing 18% and net income on a GAAP basis growing 14% and 23% on a non-GAAP basis.
Key Takeaways
Lattice Semiconductor reported strong Q2 2023 results, with revenue increasing by 18% year-over-year and net income growing by 14% on a GAAP basis and 23% on a non-GAAP basis. The company achieved an operating profit of 28% on a GAAP basis and 40% on a non-GAAP basis, with gross margin expansion of 120 basis points on a GAAP basis and 140 basis points on a non-GAAP basis compared to Q2 2022. Free cash flow margin was 35%, and the company continued its share repurchase program.
Revenue increased by 17.8% year-over-year.
Net income grew by 14% on a GAAP basis and 23% on a non-GAAP basis.
Operating profit was 28% on a GAAP basis and 40% on a non-GAAP basis.
Free cash flow margin was 35%.
Forward Guidance
Revenue for the third quarter of 2023 is expected to be between $187 million and $197 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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