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Jun 29, 2024
Silicon Labs Q2 2024 Earnings Report
Silicon Labs reported strong second-quarter growth driven by design wins ramping to production and end customers working down excess inventory.
Key Takeaways
Silicon Labs reported revenue of $145 million for Q2 2024. The company experienced a GAAP operating loss of $48 million and a GAAP diluted loss per share of $(2.56).
Revenue was $145 million.
Industrial & Commercial revenue was $88 million.
Home & Life revenue was $57 million.
GAAP diluted loss per share was $(2.56).
Silicon Labs
Silicon Labs
Forward Guidance
The company expects third-quarter revenue to be between $160 to $170 million.
Positive Outlook
- GAAP gross margin to be between 54% to 56%
- Non-GAAP gross margin to be between 54% to 56%
- GAAP operating expenses of approximately $123 million to $125 million
- Non-GAAP operating expenses of approximately $101 million to $103 million
- Non-GAAP diluted loss per share between $(0.10) to $(0.30)
Challenges Ahead
- GAAP diluted loss per share per share between $(0.95) to $(1.25)