secwatch.observer — SEC 8-K summary
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Issuer:     SEMTECH CORP (SMTC)
CIK:        0000088941
Form:       8-K
Filed at:   2024-06-05T23:59:59+00:00
Accession:  0000088941-24-000064
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Semtech Q1 FY2025 net sales $206.1M, above high-end guidance; EPS beat on non-GAAP basis
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- Net sales $206.1M above high-end guidance; GAAP gross margin 48.3%, non-GAAP 49.8%.
- GAAP net loss $23.2M ($0.36 loss per share); non-GAAP net income $4.1M ($0.06 EPS) above high-end guidance.
- Adjusted EBITDA $33.1M (16.1% margin), above high-end guidance; operating expenses down 16% YoY GAAP.
- CEO cites channel inventory declines across all end markets; hardware expected to recover in H2 FY2025.
- Sequential and YoY improvement in adjusted EBITDA margin; non-GAAP op. expenses down 17% YoY.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/88941/000008894124000064/0000088941-24-000064-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/88941/000008894124000064/smtc-20240605.htm
  HTML page:      https://secwatch.observer/filing/0000088941-24-000064

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