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Jun 25, 2022
Synaptics Q4 2022 Earnings Report
Synaptics reported record revenue, gross margins, non-GAAP operating margin, EPS, and cash flow, and made significant progress in its strategy to enter high-value markets and diversify the customer base.
Key Takeaways
Synaptics reported Q4 2022 revenue of $476.4 million and GAAP net income of $82.9 million, or $2.04 per diluted share. Non-GAAP net income was a record $157.0 million, or $3.87 per diluted share. IoT revenue increased 87% year-over-year.
Revenue of $476.4 million
IoT revenue increased 87% year-over-year
Record GAAP gross margin of 55.9 percent
Record non-GAAP diluted earnings per share of $3.87
Forward Guidance
For the first quarter of fiscal 2023, Synaptics expects IoT to continue to grow on a year-over-year basis, partially offsetting anticipated declines in Mobile and PC products. Revenue is expected to be $440M to $470M.
Positive Outlook
- IoT to continue to grow on a year-over-year basis
- Aggregate backlog remains healthy
- Expect to maintain near record high gross margins into the September quarter
- Product pipeline continues on an upward trajectory
- Design win momentum continue on an upward trajectory, particular in IoT markets.
Challenges Ahead
- Anticipated declines in Mobile and PC products
- Signs of a more cautious customer base in applications closest to the consumer
- Increased economic uncertainty
- Global supply chain disruptions
Historical Earnings Impact
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Avg. Return Before/After Earnings
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