SEMTECH CORP

Listed Company

SMTCCIK 0000088941NasdaqLarge AcceleratedSemiconductors & Related DevicesDelawareFY ends Jan 31

Period

FY 2026

Revenue

$1.05B

Net Income

$-40.38M

Total Assets

$1.41B

Equity

$549.72M

Shares Out

92.95M

Op. Cash Flow

$181.17M

Business

SEMTECH CORP designs, develops, manufactures and markets high-performance semiconductor, IoT systems and cloud connectivity solutions for commercial infrastructure, high-end consumer and industrial applications. It offers analog and mixed-signal semiconductors, protection and sensing devices, wireless products including LoRa technology, IoT modules, gateways, routers and connected cloud services. The company operates three reportable business segments: Signal Integrity; Analog Mixed Signal and Wireless; and IoT Systems and Connectivity. Its products and services are sold globally through direct sales teams, independent distributors and representatives to OEMs, solution providers, enterprises and IoT device makers.

Summary from filing dated 2025-03-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2026 2026-01-31	FY 2025 2025-01-31	FY 2024 2024-01-31	FY 2023 2023-01-31	FY 2022 2022-01-31
Total net sales	1,050	909	869	757	741
Amortization of acquired technology	9	9	34	6	5
Acquired technology impairments	0	0	92	0	0
Total cost of sales	508	453	573	278	280
Gross profit	542	457	296	479	461
Product development and engineering	196	171	186	167	148
Selling, general and administrative	222	222	220	225	168
Intangible amortization	631,000	884,000	15	821,000	0
Restructuring	4	5	24	11	0
Intangible impairment	2	0	40	0	0
Impairment of goodwill	85	8	756	0	0
Total operating expenses, net	510	407	1,241	386	316
Operating income (loss)	33	50	−944	93	145
Interest expense	−41	−90	−96	−18	−5
Interest income	3	2	3	6	1
Loss on extinguishment of debt	0	−145	0	0	—
Non-operating (expense) income, net	−5	267,000	−542,000	−1	−989,000
Investment impairments and credit loss reserves, net	−10	−1	−4	−1	−1
Loss before taxes and equity method income (loss)	−21	−183	−1,042	78	139
Provision (benefit) for income taxes	20	−22	51	17	16
Net loss before equity method income (loss)	−41	−161	−1,092	61	124
Equity method income (loss)	636,000	−547,000	45,000	249,000	2
Net loss	−40	−162	−1,092	61	126
Net income attributable to noncontrolling interest	0	0	1,000	−8,000	−19,000
Net loss attributable to common stockholders	−40	−162	−1,092	61	126
Basic (in dollars per share)	−0.46	−2.26	−17.03	0.96	1.94
Diluted (in dollars per share)	−0.46	−2.26	−17.03	0.96	1.92
Basic (in shares)	88	72	64	64	65
Diluted (in shares)	88	72	64	64	66

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2026 2026-01-31	FY 2025 2025-01-31	FY 2024 2024-01-31	FY 2023 2023-01-31	FY 2022 2022-01-31
Cash and cash equivalents	195	152	129	236	280
Accounts receivable, less allowances of $7,976 and $5,248, respectively	161	163	134	162	72
Inventories	196	164	145	208	114
Prepaid taxes	15	14	12	6	6
Other current assets	88	94	114	112	31
Total current assets	655	585	534	723	502
Property, plant and equipment, net of accumulated depreciation of $340,331 and $313,978, respectively	109	126	154	169	135
Deferred tax assets	34	41	18	64	28
Goodwill	458	533	541	1,282	351
Other intangible assets, net	40	33	36	215	7
Other assets	114	100	91	117	108
TOTAL ASSETS	1,410	1,419	1,374	2,570	1,131
Accounts payable	84	59	45	101	51
Accrued liabilities	192	178	172	253	78
Current portion of long-term debt	0	46	0	43	0
Total current liabilities	276	283	217	397	128
Deferred tax liabilities	101,000	750,000	829,000	5	1
Long term debt, less current portion	491	506	1,371	1,297	172
Other long-term liabilities	93	87	92	115	92
Commitments and contingencies (Note 13)	—	—	—	—	—
Common stock, $0.01 par value, 250,000,000 shares authorized, 104,264,193 issued and 92,668,555 outstanding and 99,010,607 issued and 86,272,439 outstanding, respectively	1	990,000	785,000	785,000	785,000
Treasury stock, at cost, 11,595,638 shares and 12,738,168 shares, respectively	−474	−521	−557	−578	−550
Additional paid-in capital	1,467	1,470	485	471	492
Retained deficit	−436	−396	−234	858	797
Accumulated other comprehensive loss, net	−8	−12	−3	3	−2
Total stockholders equity	550	542	−307	756	738
TOTAL LIABILITIES AND EQUITY	1,410	1,419	1,374	2,570	1,131

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2026 2026-01-31	FY 2025 2025-01-31	FY 2024 2024-01-31	FY 2023 2023-01-31	FY 2022 2022-01-31
Depreciation and amortization	41	43	78	32	31
Amortization of right-of-use assets	6	6	6	5	4
Right-of-use asset impairment	0	0	4	0	0
Intangible impairment	2	0	131	0	0
Accretion of deferred financing costs and debt discount	5	8	7	1	481,000
Write-off of deferred financing cost and debt discount	2	13	4	0	0
Loss on extinguishment of debt	0	143	0	0	—
Induced conversion expense	21	0	0	—	—
Interest rate swap termination	−1	−4	0	0	—
Deferred income taxes	8	−22	41	−15	−4
Share-based compensation	58	68	40	39	51
Loss (gain) on disposition of business operations and assets	75,000	262,000	8,000	−18	−54,000
Gain from sale of investments	0	−277,000	0	0	—
Corporate owned life insurance, net	3	3	5	810,000	5
Amortization of inventory step-up	0	0	3	0	0
Accounts receivable, net	3	−28	27	2	−1
Inventories	−31	−19	57	−4	−27
Other assets	−12	3	2	6	11
Accounts payable	23	15	−44	−4	−2
Accrued liabilities	5	−5	−119	19	18
Other liabilities	−5	−16	−5	−643,000	−9
Net cash provided by (used in) operating activities	181	58	−94	127	203
Proceeds from sales of property, plant and equipment	8,000	97,000	410,000	38,000	110,000
Purchase of property, plant and equipment	−10	−8	−29	−28	−26
Proceeds from sale of investments	2	3	0	2	0
Purchase of investments	0	−434,000	−930,000	−7	−8
Purchase of intangibles	−6	−6	−2	0	0
Acquisition, net of cash acquired	−21	0	0	−1,241	0
Proceeds from corporate-owned life insurance	0	5	9	5	0
Premiums paid for corporate-owned life insurance	−3	−5	0	−5	−6
Net cash used in investing activities	−39	−12	−23	−1,247	−40
Proceeds from revolving line of credit	0	68	70	10	20
Payments of revolving line of credit	0	−283	−5	−33	−28
Payments of term loans	−181	−441	−272	0	0
Proceeds from convertible senior notes	403	0	250	320	0
Payments of convertible senior notes	−281	0	0	—	—
Repurchase of warrants	−218	0	0	—	—
Proceeds from unwind of convertible note hedge	242	0	0	—	—
Purchase of capped calls	−31	0	0	—	—
Proceeds from issuance of common stock, net of issuance costs	0	641	0	0	—
Proceeds from interest rate swap termination	295,000	5	0	0	—
Deferred financing costs	−12	−824,000	−25	−22	0
Payments for employee share-based compensation payroll taxes	−27	−14	−7	−14	−19
Proceeds from exercise of stock options	4	4	0	620,000	5
Distributions to noncontrolling interest	0	−184,000	0	0	—
Net cash (used in) provided by financing activities	−101	−22	11	1,077	−152
Effect of foreign exchange rate changes on cash and cash equivalents	2	−1	−858,000	0	0
Net increase (decrease) in cash and cash equivalents	43	23	−107	−44	11
Interest paid	16	72	84	12	4
Income taxes paid	4	8	20	10	3
Capital expenditures in accounts payable	2	183,000	860,000	9	6
Accrued deferred financing costs	0	0	828,000	3	0
Accrued purchase of intangibles	2	2	0	0	—
Debt extinguished in exchange for common stock	0	188	0	0	—
Conversion of note into equity	0	0	1	0	626,000
Write-off of deferred financing costs pursuant to induced conversion	5	0	0	—	—

Filings

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