Synaptics ( (SYNA) ) has released its Q1 earnings. Here is a breakdown of the information Synaptics presented to its investors.
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Synaptics Incorporated, a leader in innovative intelligent system solutions that enhance human interaction with technology, has reported its financial results for the first quarter of fiscal year 2025. Known for its contributions to touch, display, and biometric technologies, Synaptics continues to leverage advanced connectivity and AI-enhanced processing to drive its growth.
The company reported net revenue of $257.7 million for the quarter, reflecting a strong year-over-year increase. Despite a GAAP net loss of $23.1 million, Synaptics achieved a non-GAAP net income of $32.5 million, translating to $0.81 per diluted share. This performance highlights the company’s ability to manage challenges and capitalize on new design opportunities.
Key takeaways from the report include a significant 55% year-over-year growth in Synaptics’ Core IoT products, marking consistent sequential gains over the past three quarters. The company’s strategic initiatives are evidently bearing fruit, positioning it for long-term sustainable growth. In addition, Synaptics’ non-GAAP gross margin stood at 53.9%, underscoring an efficient management of costs despite restructuring and acquisition-related expenses.
Looking ahead, Synaptics projects continued sequential revenue growth in the second quarter of fiscal 2025. Although market conditions present some uncertainties, the company remains confident in its strong balance sheet, which supports growth initiatives and allows for strategic share repurchases.
