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Dec 25, 2021
Synaptics Q2 2022 Earnings Report
Synaptics reported solid results with revenue at the midpoint of guidance, non-GAAP gross margin at the high-end of guidance and non-GAAP operating margin above the high-end of guidance.
Key Takeaways
Synaptics reported Q2 2022 financial results with revenue of $420.5 million and non-GAAP EPS of $3.26. IoT revenue increased 60% year-over-year.
Revenue of $420.5 million
IoT revenue increased 60% YoY
Record GAAP gross margin of 53.5 percent
Record non-GAAP gross margin of 59.5 percent
Forward Guidance
For the third quarter of fiscal year 2022, the company expects to grow revenue again while maintaining our gross margin profile despite recent input price increases. Our mid-point guidance includes an expectation of achieving a significant non-GAAP gross margin milestone of 60%.
Positive Outlook
- Expects to grow revenue again
- Maintaining gross margin profile
- Achieving a significant non-GAAP gross margin milestone of 60%
- Backlog remains strong
- Customer demand continuing to outpace supply availability
Challenges Ahead
- Recent input price increases
- Current semiconductor supply chain constraints
- Pricing changes factored into March quarter guidance
- Global supply chain disruptions
Historical Earnings Impact
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Avg. Return Before/After Earnings
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