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Jan 28, 2024
Semtech Q4 2024 Earnings Report
Semtech's Q4 2024 earnings were announced, revealing sales above guidance midpoint and positive operating cash flow.
Key Takeaways
Semtech reported Q4 2024 results with net sales of $192.9 million, GAAP gross margin of (0.2)%, and Non-GAAP gross margin of 48.9%. The company achieved positive operating cash flow of $13.9 million and free cash flow of $12.2 million. GAAP diluted loss per share was $9.98, while Non-GAAP diluted loss per share was $0.06.
Net sales reached $192.9 million, surpassing the midpoint of guidance.
GAAP gross margin was (0.2)%, and Non-GAAP gross margin was 48.9%, both above the guidance midpoint.
GAAP diluted loss per share amounted to $9.98, and Non-GAAP diluted loss per share was $0.06.
The company generated positive operating cash flow of $13.9 million and free cash flow of $12.2 million.
Forward Guidance
Semtech anticipates net sales of $200.0 million +/- $5.0 million and a Non-GAAP gross margin of 49.5% +/- 100 bps for the first quarter of fiscal year 2025.
Positive Outlook
- Net sales are expected to be $200.0 million +/- $5.0 million.
- Non-GAAP gross margin is projected at 49.5% +/- 100 bps.
- Operating costs and expenses, net, are anticipated to be $78.5 million +/- $1.5 million.
- Operating income is expected to be $20.5 million +/- $3.0 million.
- Adjusted EBITDA is projected at $27.8 million +/- $3.0 million.
Challenges Ahead
- Interest expense, net, is expected to be $20.5 million.
- The normalized income tax rate is projected at 12%.
- Diluted earnings (loss) per share are expected to be $0.00 +/- $0.04.
- Diluted share count of 64.5 is expected for diluted (loss) per share.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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