Core Insights - Allegro MicroSystems, Inc. is a global leader in power and sensing semiconductor solutions, focusing on motion control and energy-efficient systems [1][3] - The company will present at Morgan Stanley's Technology, Media & Telecom Conference on March 4, 2025, with CFO Derek D'Antilio participating in a fireside chat [1] - A live and archived webcast of the fireside chat will be available on the company's Investor Relations page [2] Company Overview - Allegro MicroSystems has over three decades of expertise in magnetic sensing and power integrated circuits (ICs), driving advancements in automotive, clean energy, and industrial automation [3] - The company emphasizes quality and innovation, reinforcing its status as a pioneer in "automotive grade" technology [3] - Allegro aims to enhance efficiency, performance, and sustainability across various industries [3]

Core Viewpoint - Allegro MicroSystems, Inc. will present at Morgan Stanley's Technology, Media & Telecom Conference on March 4, 2025, highlighting its leadership in power and sensing semiconductor solutions for motion control and energy-efficient systems [1]. Company Overview - Allegro MicroSystems has over three decades of expertise in magnetic sensing and power integrated circuits (ICs), focusing on automotive, clean energy, and industrial automation sectors [3]. - The company emphasizes enhancing efficiency, performance, and sustainability through its solutions, reinforcing its status as a pioneer in "automotive grade" technology [3]. - Allegro's commitment to quality is aimed at driving transformation across various industries and supporting customer success [3].

MANCHESTER, N.H., Feb. 03, 2025 (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 the appointment of Krishna Palepu, Ross Graham Walker Professor of Business Administration at Harvard Business School, to Allegro’s Board of Directors (“Board”) as an independent director. Dr. Palepu’s appointment was effective on January 31, 2025. Dr. Palepu brings extensive ex ...

Financial Performance - Total net sales for the three-month period ended December 27, 2024, were $177.872 million, a decrease of 30.2% compared to $254.984 million for the same period in 2023[18]. - Gross profit for the three-month period ended December 27, 2024, was $81.215 million, down from $133.828 million in the same period last year, reflecting a gross margin decline[18]. - The net loss attributable to Allegro MicroSystems, Inc. for the three-month period ended December 27, 2024, was $6.860 million, compared to a net income of $33.345 million for the same period in 2023[18]. - The company reported a comprehensive loss of $14.361 million for the three-month period ended December 27, 2024, compared to a comprehensive income of $36.965 million for the same period in 2023[20]. - Net loss for the nine-month period ended December 27, 2024, was $58,025 thousand, compared to a net income of $159,962 thousand for the same period in 2023[28]. - For the three-month period ended December 27, 2024, total net sales were $177,872, a decrease of 30.3% compared to $254,984 for the same period in 2023[43]. - Automotive segment sales for the three-month period ended December 27, 2024, were $130,066, down 33.3% from $194,764 in the prior year[43]. - The company reported net sales of $532,182 for the nine-month period ended December 27, 2024, a decline of 34.1% from $808,786 for the same period in 2023[43]. Operating Expenses - Operating expenses for the three-month period ended December 27, 2024, totaled $81.256 million, compared to $97.142 million for the same period in 2023, indicating a reduction of 16.4%[18]. - Research and development expenses for the nine-month period ended December 27, 2024, were $132.031 million, slightly up from $130.799 million for the same period in 2023[18]. - Depreciation and amortization for the nine-month period was $48,578 thousand, slightly lower than $49,548 thousand in the prior year[28]. - Total depreciation expense for the three-month period ended December 27, 2024, was $9,409, compared to $15,124 for the same period in 2023[50]. - Intangible assets amortization expense was $6,363 for the three-month period ended December 27, 2024, compared to $5,071 for the same period in 2023[54]. Cash Flow and Assets - Cash and cash equivalents decreased to $138.452 million as of December 27, 2024, from $212.143 million as of March 29, 2024[16]. - Total assets decreased to $1.441 billion as of December 27, 2024, from $1.531 billion as of March 29, 2024[16]. - Cash provided by operating activities for the nine-month period ended December 27, 2024, was $41,560 thousand, a decrease from $168,951 thousand in the prior year[28]. - Total cash and cash equivalents and restricted cash at the end of the period was $148,962 thousand, down from $223,735 thousand at the end of the previous year[28]. - Trade accounts receivable, net, decreased to $83,805 as of December 27, 2024, from $118,508 as of March 29, 2024[48]. - Total inventories increased to $193,140 as of December 27, 2024, compared to $162,302 as of March 29, 2024[49]. Debt and Financing - Long-term debt increased to $374.729 million as of December 27, 2024, compared to $249.611 million as of March 29, 2024[16]. - The total debt as of December 27, 2024, was $376,103, an increase from $253,540 as of March 29, 2024[56]. - The Company entered into a new $400,000 tranche of term loans maturing in 2030, primarily used for stock repurchase and refinancing existing debt[58]. - The 2023 Revolving Credit Facility was increased to $256,000 as of August 6, 2024[57]. - The company was in compliance with its debt covenants as of December 27, 2024[59]. Stock and Equity - The company had 184,011,189 weighted average shares outstanding for the three-month period ended December 27, 2024[18]. - The basic net loss per share attributable to Allegro MicroSystems, Inc. stockholders for the three-month period ended December 27, 2024, was $(0.04)[67]. - The company repurchased common stock amounting to $853,921 thousand during the nine-month period[28]. - The company repurchased 28,750,000 shares of common stock for $628,256 during the First Closing of the Share Repurchase Agreement[78]. - The company completed the Second Closing of the Share Repurchase Agreement, repurchasing 10,017,315 shares for $225,549[79]. - The company granted 1,486,141 Restricted Stock Units (RSUs) during the nine-month period ended December 27, 2024[69]. - The company had 2,573,920 Performance Stock Units (PSUs) outstanding as of December 27, 2024[70]. Other Financial Metrics - The company incurred a loss on change in fair value of forward repurchase contracts amounting to $34,752 thousand[28]. - The company recorded a foreign currency translation adjustment loss of $5,243 thousand[28]. - The company recognized a net loss of $2,804 related to the PSL equity interests transaction[84]. - The company recorded inventory provisions of $2,739 for the three-month period ended December 27, 2024, compared to $429 for the same period in 2023[49]. - The estimated useful lives of machinery and equipment were increased from seven years to ten years, resulting in a decrease in depreciation expense by $4,460 for the three-month period ended December 27, 2024[52]. - The fair value of the company's debt was $376,406 as of December 27, 2024[47]. - The effective tax rate for the nine-month period ended December 27, 2024, was 13.7%, compared to 9.9% for the same period in 2023[72]. - One distributor accounted for 11.4% of total net sales for the three-month period ended December 27, 2024[36]. - The company is evaluating the impact of new accounting standards that will require additional disclosures starting in 2026 and 2027[38][39][40]. - The Company expanded its global manufacturing capacities, including operations in the Philippines and the acquisition of Crocus Technology International Corp.[52].

Company Performance - Allegro MicroSystems reported quarterly earnings of $0.07 per share, exceeding the Zacks Consensus Estimate of $0.06 per share, but down from $0.32 per share a year ago, representing an earnings surprise of 16.67% [1] - The company posted revenues of $177.87 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 1.53%, but down from $254.98 million year-over-year [2] - Over the last four quarters, Allegro MicroSystems has consistently surpassed consensus EPS and revenue estimates [2] Market Outlook - Allegro MicroSystems shares have increased approximately 4.5% since the beginning of the year, outperforming the S&P 500's gain of 2.7% [3] - The company's future stock performance will largely depend on management's commentary during the earnings call and the revisions of earnings estimates [3][4] - The current consensus EPS estimate for the upcoming quarter is $0.05 on revenues of $175.2 million, and for the current fiscal year, it is $0.22 on revenues of $704.7 million [7] Industry Context - The Electronics - Semiconductors industry, to which Allegro MicroSystems belongs, is currently ranked in the top 34% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Allegro MicroSystems' stock performance [5][6]

JANUARY 30, 2025 3QFY25 Investor Presentation Forward-looking statements This presentation and the accompanying oral remarks contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward- looking statements contained in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other th ...

Financial Performance - Third quarter sales reached $178 million, exceeding the midpoint of guidance, with non-GAAP EPS of $0.07[3] - The company reported a net loss of $6.860 million for the third quarter, compared to a net income of $33.345 million in the same quarter last year[19] - Total net sales for the three-month period ended December 27, 2024, were $177.872 million, a decrease of 30% compared to $254.984 million for the same period in 2023[20] - For the nine-month period ended December 27, 2024, total net sales were $532.182 million, down 34% from $808.786 million in the same period of 2023[20] - The company reported a net loss of $6.799 million for the three-month period ended December 27, 2024, compared to a net income of $33.402 million for the same period in 2023[24] Segment Performance - Automotive segment sales were $130.066 million, while Industrial and other sales were $47.806 million, contributing to total net sales of $177.872 million for the quarter[4] - Automotive segment sales decreased by 33% to $130.066 million from $194.764 million year-over-year for the three-month period[20] - Industrial and other segment sales decreased by 21% to $47.806 million from $60.220 million year-over-year for the three-month period[20] Gross Margin and Operating Expenses - Gross margin for the quarter was 45.7% on a GAAP basis and 49.1% on a non-GAAP basis, compared to 52.5% and 54.6% respectively for the same period last year[4] - Operating expenses are projected to increase by approximately 5% sequentially to $72 million, primarily due to annual payroll tax resets[6] - Total operating expenses for the third quarter were $81.256 million, down from $97.142 million year-over-year[19] - Research and Development Expenses for the three-month period ended December 27, 2024, were $43,317, slightly down from $43,510 in the previous quarter[29] Future Guidance - The company expects fourth quarter net sales to range between $180 million and $190 million, with gross margin anticipated between 46% and 48%[5][6] - Diluted EPS for the fourth quarter is expected to be between $0.03 and $0.07[6] Cash Flow and Assets - Cash and cash equivalents at the end of the period were $148.962 million, down from $223.735 million at the end of the previous period[24] - Total assets decreased to $1,441.740 million as of December 27, 2024, from $1,530.603 million as of March 29, 2024[22] - Total liabilities increased to $507.314 million as of December 27, 2024, compared to $398.887 million as of March 29, 2024[22] - The company reported a net cash used in operating activities of $8.183 million for the three-month period ended December 27, 2024[24] Non-GAAP Measures - Non-GAAP financial measures are regularly reviewed to evaluate business performance, including non-GAAP Gross Profit and non-GAAP Operating Income[25] - Non-GAAP Gross Margin for the three-month period ended December 27, 2024, was 49.1%, compared to 48.8% in the previous quarter[28] - Non-GAAP Operating Income for the three-month period ended December 27, 2024, was $19,188, compared to $22,018 in the previous quarter, reflecting a Non-GAAP Operating Margin of 10.8%[30] - Adjusted EBITDA for the three-month period ended December 27, 2024, was $30,321, with an Adjusted EBITDA Margin of 17.0%[31] - Non-GAAP Profit before Tax for the three-month period ended December 27, 2024, was $12,855, compared to $15,555 in the previous quarter[32] Earnings Per Share - Basic Non-GAAP Earnings per Share for the three-month period ended December 27, 2024, was $0.07, consistent with the previous quarter[34] - The company reported a GAAP Basic (Loss) Earnings per Share of $(0.04) for the three-month period ended December 27, 2024, compared to $(0.18) in the previous year[34]

MANCHESTER, N.H., Jan. 30, 2025 (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 third quarter ended December 27, 2024. “We delivered on our commitments with third quarter sales of $178 million and non-GAAP EPS of $0.07, both above the midpoint of our guidance,” said Vineet Nargolwala, President and CEO of Allegro. ...

MANCHESTER, N.H., Jan. 09, 2025 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (NASDAQ:ALGM) today announced it plans to release financial results for its third quarter fiscal 2025 prior to the market open on Thursday, January 30, 2025. 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. Analyst ...

MANCHESTER, N.H., Jan. 08, 2025 (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 the launch of two new current sensor ICs - the ACS37030MY and the ACS37220MZ. Leveraging Allegro's cutting-edge sensing technology, these ICs provide low internal conductor resistance, high operating bandwidth and reliable performance across a wide range of automotive, industrial and consumer ...