MANCHESTER, N.H., Nov. 20, 2024 (GLOBE NEWSWIRE) --  Allegro MicroSystems, Inc. (“Allegro”) (Nasdaq: ALGM), a global leader in power and sensing solutions for motion control and energy efficient systems, today announced that its A89224 automotive System-on-a-Chip (SoC) has won the Electronica 2024: Best-in-Show Award, presented by Embedded Computing Design. The award ceremony took place on November 12, 2024, at Electronica in Munich, Germany.  The A89224 is a high-performance automotive SoC featuring an int ...

HYDERABAD, India, Nov. 15, 2024 /PRNewswire/ -- Cyient, a global Intelligent Engineering services company, today announced the expansion of its partnership with Allegro MicroSystems, Inc. ("Allegro MicroSystems") (Nasdaq: ALGM), a global leader in power and sensing solutions for motion control and energy efficiency, with the inauguration of a Center of Excellence (CoE) in Hyderabad, India.The CoE, located at Cyient's Manikonda Campus, will focus on developing next-generation magnetic sensors and power semic ...

MANCHESTER, N.H., Nov. 15, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (“Allegro”) (Nasdaq: ALGM), a global leader in power and sensing semiconductor solutions for motion control and energy efficient systems, today announced that the company will present at Wells Fargo’s 8th Annual TMT Summit on Wednesday, December 4, 2024 at the Terranea Resort in Rancho Palos Verdes, CA. Derek D’Antilio, EVP and Chief Financial Officer, is scheduled to participate in a fireside chat at 11:00 AM PST. A live and arc ...

MANCHESTER, N.H., Nov. 04, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (“Allegro”) (Nasdaq: ALGM), a global leader in power and sensing solutions, today announced a groundbreaking series of Power products poised to redefine performance and efficiency across automotive, industrial and data center applications. Allegro’s innovative products, debuting at Electronica 2024, empower customers to achieve unparalleled performance while simplifying design and reducing costs. The new product lineup not only a ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Securities registered pursuant to Section 12(b) of the Act: FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 27, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to _____________ Commission File Number: 001-39675 ALLEGRO MICROSYSTEMS, INC. (Exact name of r ...

Financial Data and Key Metrics Changes - Q2 sales were $187 million, representing a 12% sequential increase but a 32% decline year-over-year [22][23] - Non-GAAP EPS was $0.08, at the high end of the outlook range [22][8] - Gross margin was 48.8%, operating margin was 11.7%, and adjusted EBITDA was 17.2% of sales [22] - Cash flow from operations was $16 million, with free cash flow of $6 million [28] Business Line Data and Key Metrics Changes - Automotive sales were $142 million, an 8% sequential increase but a 28% year-over-year decline, accounting for 76% of total sales [23] - E-mobility sales increased to $71 million, up 14% sequentially [23] - Industrial and other sales were $45 million, a 27% sequential increase but a 42% year-over-year decline [24] - Magnetic sensor sales were $129 million, increasing 12% sequentially, representing 69% of total sales [24] Market Data and Key Metrics Changes - Sales by geography: 26% in China, 21% in the rest of Asia, 20% in Japan, 18% in the Americas, and 15% in Europe [25] - China saw a 54% increase in shipments in Q2, indicating strong demand recovery [39][15] Company Strategy and Development Direction - The company is focused on executing new product roadmaps and has launched new TMR current sensors [8][9] - There is a strong emphasis on innovation and design wins across various applications, including automotive and industrial markets [9][11] - The company is localizing production in China to better serve local OEMs and is on track to launch parts from a new supply chain by year-end [14][62] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about global demand for magnetic sensing and power semiconductor solutions, particularly in the automotive sector [12][17] - There is a recognition of ongoing inventory rebalancing, especially in North America and Europe, which may lead to near-term challenges [16][92] - The company expects third-quarter sales to range from $170 million to $180 million, reflecting continued progress towards vehicle electrification [32][20] Other Important Information - The company repurchased 39 million shares from Sanken Electric, reducing Sanken's ownership from 51% to 33% [29] - A $35 million non-cash GAAP loss was recorded due to a forward repurchase fair value adjustment [30] Q&A Session Summary Question: Can you walk us through the changes in revenue and inventory? - Management noted that the guidance for December is higher than June levels, with significant momentum in China, where shipments were up 54% [39][40] Question: Can you expand on the gate driver win with a China OEM? - The win was related to the GaN isolated gate driver, which offers significant space and cost savings, and is expected to gain traction in the market [42][41] Question: How does the competitive landscape look for magnetic sensors? - Management is confident in maintaining and potentially extending market share due to strong design wins and new product introductions [74] Question: What is the current inventory situation in the distribution channel? - Inventory levels are approaching normal in China and Asia, while North America and Europe still have work to do [71][72] Question: What are the expectations for gross margin moving forward? - Management expects gross margins to improve slightly in Q3, with a range of 49% to 51% [33][56] Question: What is the outlook for end consumption of devices? - Management believes that end market demand remains strong, with pockets of inventory digestion primarily in North America and Europe [92][93]

Allegro MicroSystems, Inc. (ALGM) came out with quarterly earnings of $0.08 per share, beating the Zacks Consensus Estimate of $0.06 per share. This compares to earnings of $0.40 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 33.33%. A quarter ago, it was expected that this company would post earnings of $0.02 per share when it actually produced earnings of $0.03, delivering a surprise of 50%.Over the last four quarters, the ...

Exhibit 99.1 Allegro MicroSystems Reports Second Quarter 2025 Results – Sales Increased 12% Sequentially to $187 Million – Manchester, NH, October 31, 2024 – Allegro MicroSystems, Inc. ("Allegro" or the "Company") (Nasdaq: ALGM), a global leader in power and sensing semiconductor solutions for motion control and energy efficient systems, today announced financial results for its second quarter ended September 27, 2024. "We delivered results in-line with our commitments. Second quarter sales were $187 millio ...

MANCHESTER, N.H., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (“Allegro” or the “Company”) (Nasdaq: ALGM), a global leader in power and sensing semiconductor solutions for motion control and energy efficient systems, today announced financial results for its second quarter ended September 27, 2024. “We delivered results in-line with our commitments. Second quarter sales were $187 million, with sequential growth in both Automotive and Industrial and Other end markets. Non-GAAP EPS was $0.08, ...

MANCHESTER, N.H., Oct. 10, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (Nasdaq: ALGM) today announced it plans to release financial results for its second quarter fiscal 2025 prior to the market open on Thursday, October 31, 2024. Following the press release, Vineet Nargolwala, President and Chief Executive Officer, and Derek D’Antilio, Senior Vice President and Chief Financial Officer, will host a conference call at 8:30 a.m. Eastern Time to discuss the Company’s results and business outlook. Analy ...