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Mar 30, 2024
Silicon Labs Q1 2024 Earnings Report
Silicon Labs experienced sequential revenue growth in Q1 2024, driven by progress in end-customer inventory destocking.
Key Takeaways
Silicon Labs reported revenue of $106 million for Q1 2024. The company saw strong sequential growth, driven by progress in end-customer inventory destocking. They anticipate revenue growth to accelerate in the second quarter.
Revenue was $106 million.
Industrial & Commercial revenue was $65 million.
Home & Life revenue was $41 million.
GAAP diluted loss per share was $(1.77).
Silicon Labs
Silicon Labs
Forward Guidance
The company expects second-quarter revenue to be between $135 to $145 million. GAAP gross margin to be 53%, GAAP operating expenses of approximately $125 million, GAAP diluted loss per share between $(1.45) to $(1.61). Non-GAAP gross margin to be 53%, Non-GAAP operating expenses of approximately $102 million, Non-GAAP diluted loss per share between $(0.58) to $(0.70)
Positive Outlook
- GAAP gross margin to be 53%
- Non-GAAP gross margin to be 53%
Challenges Ahead
- GAAP operating expenses of approximately $125 million
- GAAP diluted loss per share between $(1.45) to $(1.61)
- Non-GAAP operating expenses of approximately $102 million
- Non-GAAP diluted loss per share between $(0.58) to $(0.70)