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Jun 29, 2024
Synaptics Q4 2024 Earnings Report
Synaptics reported Q4 2024 financial results, with revenue of $247.4 million and GAAP diluted earnings per share of $5.22.
Key Takeaways
Synaptics reported Q4 2024 results with revenue of $247.4 million. GAAP net income was $208.3 million, or $5.22 per diluted share, and non-GAAP net income was $25.6 million, or $0.64 per diluted share. The company enters fiscal year 2025 in a much better position, with improving demand and the launch of the native-AI compute platform, Astra.
Revenue for Q4 2024 was $247.4 million.
GAAP gross margin was 45.8 percent.
Non-GAAP diluted earnings per share was $0.64.
Core IoT products grew 63% year-over-year.
Forward Guidance
For the first quarter of fiscal 2025, Synaptics expects revenue of $255M ± $15M, GAAP gross margin of 45.0 percent ±1.5 percent, and Non-GAAP gross margin of 53.5 percent ± 1.0 percent.
Positive Outlook
- Sequential improvement in revenue is expected.
- Supply chain challenges are largely a thing of the past.
- Demand environment, particularly in primary areas of focus, continues to improve.
- Balance sheet remains strong, providing the company with ample flexibility to drive growth and fund strategic initiatives.
- Wireless group should continue to show near term progress.
Challenges Ahead
- Company remains cautious due to a slow recovery in end markets.
- There is limited visibility across the next few quarters.
- GAAP operating expense is expected to be $135M ± $4M.
- Non-GAAP operating expense is expected to be $96M ± $2M.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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