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Jan 30, 2022
Semtech Q4 2022 Earnings Report
Reported fourth quarter and fiscal year 2022 results.
Key Takeaways
Semtech announced record financial performance in fiscal year 2022, driven by investments in disruptive technologies that enable low-power solutions for remote sensing and analytics for the Internet of Things (IoT), bandwidth expansion, and reduction of electronic waste.
Net sales of $190.6 million, GAAP diluted EPS of $0.53 and non-GAAP diluted EPS of $0.70
Record GAAP and non-GAAP gross margins grew 310bps and 300bps, respectively, year-over-year
Operating cash flow of $51.0 million or 26.8% of net sales
Record LoRa-enabled net sales of $41.7 million
Forward Guidance
The company provided GAAP and non-GAAP outlook for the first quarter of fiscal year 2023, taking into account potential negative impacts from supply chain constraints, the COVID-19 pandemic, and export restrictions.
Positive Outlook
- Net sales are expected to be in the range of $195.0 million to $205.0 million
- GAAP Gross margin is expected to be in the range of 63.8% to 64.8%
- GAAP SG&A expense is expected to be in the range of $43.2 million to $44.2 million
- GAAP R&D expense is expected to be in the range of $39.0 million to $40.0 million
- GAAP Diluted earnings per share is expected to be in the range of $0.50 to $0.58
Challenges Ahead
- Uncertainty surrounding the impact and duration of supply chain constraints and any associated disruptions
- Uncertainty surrounding the impact and duration of the COVID-19 pandemic
- Export restrictions and laws affecting the Company's trade and investments including with respect to Huawei
Historical Earnings Impact
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Avg. Return Before/After Earnings
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