Lattice Semiconductor demonstrated resilience with strong new product growth, executive team enhancements, and signs of market recovery. However, significant revenue declines and challenges with inventory normalization and one-time charges presented substantial hurdles.

Company Guidance

During the Lattice Semiconductor Fourth Quarter Fiscal Year 2024 earnings call, the company provided guidance for the first quarter of 2025. Revenue is expected to be between $115 million and $125 million, with a non-GAAP gross margin of 69% ± 1%. Operating expenses are projected to be between $50 million and $52 million, and the non-GAAP EPS is anticipated to range from $0.20 to $0.24 per share. The company highlighted a positive book-to-bill ratio exceeding one for several weeks, indicating improved customer demand and a stronger backlog. Lattice aims to achieve low single-digit revenue growth for the full year 2025, targeting a return to a 15% to 20% long-term revenue growth rate by 2026. The company also expects channel inventory to normalize by mid-2025, aligning with its strategic goal to support long-term growth.

Successful Leadership and Team Expansion

Lattice Semiconductor strengthened its executive team with the appointment of Lorenzo Flores as CFO, Nicole Singer as Chief People Officer, and the promotion of Erhaan Shaikh to Senior Vice President of Worldwide Sales. This expansion is expected to contribute significantly to the company's growth.

New Product Momentum with Nexus and Avant

Revenue from new products, including Nexus and Avant, grew double digits in 2024 compared to 2023. These products are contributing more significantly to overall revenue, moving from single-digit to mid-teens percentage of total revenue.

Growth in Computing Segment

The computing subsegment showed growth in 2024, with design wins reaching record levels. This was driven by strong demand in the server market, particularly in AI and general-purpose servers.

Positive Financial Metrics

Lattice achieved a strong EBITDA margin of 31.8% for the full year 2024, and Q4 adjusted EBITDA margin was 24.9%. The company also announced a $100 million share buyback for 2025.

Encouraging Signs of Market Recovery

For the first time in six quarters, the book-to-bill ratio exceeded one, indicating a positive trend in orders exceeding shipments. This suggests a potential recovery in the market.

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Lattice Semiconductor (LSCC) Earnings, Revenues Date & History

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LSCC Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 06, 2025	2025 (Q1)	0.22 / -	0.29	―	―	―
Feb 10, 2025	2024 (Q4)	0.19 / 0.15	0.45	-66.67% (-0.30)
Nov 04, 2024	2024 (Q3)	0.24 / 0.24	0.53	-54.72% (-0.29)
Jul 29, 2024	2024 (Q2)	0.24 / 0.23	0.52	-55.77% (-0.29)
Apr 29, 2024	2024 (Q1)	0.28 / 0.29	0.51	-43.14% (-0.22)
Feb 12, 2024	2023 (Q4)	0.45 / 0.45	0.49	-8.16% (-0.04)
Oct 30, 2023	2023 (Q3)	0.52 / 0.53	0.48	10.42% (+0.05)
Jul 31, 2023	2023 (Q2)	0.51 / 0.52	0.42	23.81% (+0.10)
May 01, 2023	2023 (Q1)	0.50 / 0.51	0.37	37.84% (+0.14)
Feb 13, 2023	2022 (Q4)	0.48 / 0.49	0.32	53.12% (+0.17)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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LSCC Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 10, 2025	$54.47	$58.64	+7.66%
Nov 04, 2024	$51.89	$51.18	-1.37%
Jul 29, 2024	$54.96	$49.77	-9.44%
Apr 29, 2024	$76.86	$68.60	-10.75%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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