Financial Performance - Q1 2025 revenues from continuing operations were $132.2 million, at the high end of the guided range[1] - Q2 2025 revenues are expected to be between $135 million and $145 million, representing a 4% year-over-year growth[7] - Non-GAAP diluted earnings per share for Q1 2025 were $0.18, consistent with Q1 2024[5] - Q2 2025 diluted earnings per share from continuing operations are expected to be between $0.11 and $0.15, with non-GAAP adjustments bringing it to $0.21 to $0.25[7] - Net loss from continuing operations for Q1 2025 was $0.4 million, compared to a profit of $10.4 million in Q4 2024[21] - Non-GAAP net earnings for Q1 2025 were $16.2 million, down from $24.3 million in Q4 2024[21] - For the three months ended March 31, 2025, the company reported a net loss of $2.0 million compared to net earnings of $2.5 million in the same period of 2024[26] Cash Flow and Liquidity - Net cash provided by operating activities exceeded the high end of the guided range, totaling $1.3 million[5] - Net cash provided by operating activities decreased to $1.3 million from $17.3 million year-over-year[26] - Adjusted free cash flow for the quarter was $18.3 million, representing 13.8% of revenues, compared to 10.0% in the same quarter of 2024[27] - The company experienced a significant decrease in cash and cash equivalents, ending the period with $101.9 million, down from $122.1 million in the previous year[26] - Non-GAAP net cash attributable to continuing operations was $22.3 million, up from $16.2 million in the same quarter of 2024[27] Expenses and Profitability - Gross profit for Q1 2025 was $53.3 million, representing 40.3% of revenues[5] - Gross profit for Q1 2025 was $53.3 million, representing a decrease of 12.5% from $60.9 million in Q4 2024[20] - Non-GAAP gross profit for Q1 2025 was $55.0 million, down from $62.9 million in Q4 2024, with a gross profit margin of 41.6%[20] - Research and development expenses for Q1 2025 totaled $9.7 million, slightly lower than $10.3 million in Q4 2024[20] - Selling and administrative expenses increased to $37.2 million in Q1 2025 from $35.2 million in Q4 2024[20] - Adjusted EBITDA for Q1 2025 was $26.7 million, representing 20.2% of revenues, compared to 24.4% in Q4 2024[20] Balance Sheet - Total current assets decreased to $337.9 million in Q1 2025 from $361.4 million in Q4 2024[24] - Total liabilities decreased to $341.0 million in Q1 2025 from $367.6 million in Q4 2024[24] - Total stockholders' equity remained relatively stable at $755.8 million in Q1 2025 compared to $756.0 million in Q4 2024[24] - The company reported a decrease in accounts payable by $19.3 million compared to an increase of $17.2 million in the same period last year[26] Strategic Initiatives - The company repurchased $5 million of shares and reduced debt by $15 million in Q1 2025[4] - The Precision Devices segment is experiencing increased order activity and backlog across most end markets[4] - The company anticipates another year of strong cash generation in 2025[4] - The company plans to provide further details on its 2025 strategy at the upcoming Investor Day on May 13[4] Other Financial Activities - The company incurred a loss on the sale of business amounting to $1.6 million during the quarter[26] - Payments under the revolving credit facility totaled $15.0 million, a decrease from $20.0 million in the same period last year[26] - The effect of exchange rate changes on cash and cash equivalents was a positive $0.2 million for the quarter[26]

Summary of Key Points Core Viewpoint - Knowles Corporation (NYSE: KN) has experienced a significant decline in stock price, down nearly 20% year-to-date, currently trading in the low $16/share range [1]. Company Performance - The stock was sold at around $20, resulting in a decent profit, but the current valuation reflects a notable decrease in performance [1]. Market Context - The decline in Knowles' stock price indicates potential challenges the company may be facing in the market, which could be relevant for investors considering future positions [1].

Core Insights - Syntiant Corp. is participating in Bernstein's 3rd Annual Technology, Media and Telecommunications Forum to discuss its growth strategy and recent acquisition [1][2] - The company acquired Knowles Corporation's Consumer MEMS Microphones business for $150 million, enhancing its capabilities in audio and speech applications [2][3] - Syntiant has raised a total of $270 million and shipped over 100 million purpose-built processors and machine learning models since its inception [3] Company Overview - Founded in 2017 and headquartered in Irvine, California, Syntiant specializes in low-power edge AI solutions, delivering efficient processors, sensors, and software [4] - The company has deployed billions of MEMS microphones and sensors, powering various edge AI applications across consumer and industrial sectors [4] Industry Context - Bernstein, a joint venture between Societe Generale and AllianceBernstein, provides investment insights and equity research, serving professional clients globally [5]

IRVINE, Calif., Feb. 20, 2025 (GLOBE NEWSWIRE) -- Syntiant Corp., the recognized leader in low-power edge AI deployment, today announced that its CEO, Kurt Busch, will participate in Bernstein’s 3rd Annual Technology, Media and Telecommunications (TMT) Forum, taking place February 26-27 at Hotel Nia in Menlo Park, Calif. Busch will join Bernstein’s Managing Director and Senior Analyst Dr. Stacy Rasgon, Ph.D., on February 26 at 11 a.m. PST for a fireside chat to discuss Syntiant’s value proposition and growt ...

Financial Data and Key Metrics Changes - For Q4 2024, revenue was $143 million, up 2% year-over-year and within guidance range. Non-GAAP diluted EPS was $0.27, up 23% from Q4 2023, also within guidance range [22][49][62] - For the full year 2024, revenue grew 21% and non-GAAP diluted EPS grew 32% compared to 2023, driven by strength in MedTech and specialty audio [10][50] Business Line Data and Key Metrics Changes - In Q4, MedTech and specialty audio revenue was $70 million, flat year-over-year. For the full year, revenue in this segment increased by 8% driven by increased shipments into the hearing health market [23][50] - The Precision Devices segment delivered Q4 revenues of $73 million, up 4% year-over-year. Full-year revenue grew 36% compared to 2023, aided by the addition of Cornell [58][64] Market Data and Key Metrics Changes - The distribution book-to-bill trend was positive in Q4, indicating a reduction in excess sales inventory in industrial end markets [58] - Approximately 5% of revenue in 2024 could be subject to tariffs on imports from China or Mexico, but exposure is considered limited [19][60] Company Strategy and Development Direction - The company aims to leverage core competencies in medical markets and expects to see growth in 2025 and beyond through innovative customer solutions [11][35] - The recent sale of the consumer MEMS microphone business is part of a strategic transformation to strengthen the balance sheet and focus on core businesses [37][78] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in revenue and profitability growth in 2025, citing a healthy pipeline of new opportunities and strong demand in various markets [36][76] - The company anticipates a return to year-over-year revenue and earnings growth beginning in Q2 2025, supported by a strong backlog of orders [72][76] Other Important Information - Cash from operations for Q4 was $35 million, with full-year cash from operations totaling $130 million [26][66] - The board authorized an additional $150 million for stock repurchase, reflecting continued support for returning capital to shareholders [18][68] Q&A Session Summary Question: Pricing pressure across segments - Management noted that pricing pressure is mainly observed in the MSA business on mature products, while the Precision Devices segment has seen a net positive pricing impact [86][87] Question: Inventory levels - Inventory at distribution partners decreased from about six months at the end of Q3 to four to four and a half months at the end of Q4, with strong bookings in Q4 providing confidence for growth [88][90] Question: Specialty film production challenges - Management indicated that production challenges in the specialty film business are expected to improve by the end of Q1 or into Q2, with a significant backlog of orders already in place [94][95] Question: Consumer MEMS microphone business revenue - The consumer MEMS microphone business generated approximately $260 million in revenue from January 2024 until its closure in December 2024 [97]

FORM 10-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 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: 001-36102 Knowles Corporation (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or o ...

Financial Contact: Sarah Cook Knowles Investor Relations Email: investorrelations@knowles.com Knowles received $75M+, multi-year, order for high-performance capacitors in Energy market Knowles Reports Q4 & Full Year 2024 Financial Results and Provides Outlook for Q1 2025 Fourth Quarter Revenues from Continuing Operations increased 2% and Full Year Revenues from Continuing Operations increased 21% on a year over year basis Generated Fourth Quarter Net Cash from Operations of $35M and full year Net Cash from ...

Acquisition Details - Syntiant Corp completed the acquisition of Knowles Corporation's Consumer MEMS Microphones (CMM) business for $150 million in cash and stock [4] - The acquisition was financed through equity funding led by Khazanah Nasional Berhad and Boardman Bay Capital Management, with debt financing arranged by Structural Capital [3] Financial Performance - Knowles' CMM division generated revenue of approximately $256 million in 2023 [3][8] Strategic Impact - The acquisition positions Syntiant as a leader in the multibillion-dollar MEMS microphone market, combining cutting-edge sensors, processors, and high-performance machine learning models [1] - Syntiant aims to accelerate the development of next-generation solutions for autonomous vehicles, smart home devices, and industrial automation [1] - The integration of Knowles' CMM business enhances Syntiant's product portfolio, supporting new audio applications in consumer and industrial markets [8] Technological Advancements - Syntiant has deployed more than 50 million Neural Decision Processors (NDPs) and deep learning models worldwide, delivering ultra-low-power AI in edge devices [9] - The integration of advanced MEMS sensors into Syntiant's existing hardware-software capabilities provides customers with a total edge AI audio solution [9] Investor and Partner Support - Boardman Bay Capital Management expressed deep confidence in Syntiant's ability to drive the future of edge AI [2] - Khazanah Nasional Berhad supports Syntiant's vision for the growth of Malaysia's semiconductor ecosystem, aligning with its goal of fostering technological advancements in the region [10] - Structural Capital believes the deal will accelerate Syntiant's growth and strengthen its market presence [19] Company Background - Syntiant Corp, founded in 2017 and headquartered in Irvine, Calif, is a leader in delivering hardware and software solutions for edge AI deployment [15] - Knowles' CMM business designs and manufactures MEMS microphones, known as SiSonicTM, for voice control communications and superior audio recording across various market segments [16] Industry Context - The acquisition reflects the rising demand for chips in emerging technologies like AI and the shifting global supply chain, creating opportunities for Malaysia to advance in the semiconductor and advanced manufacturing value chain [10]

-Provides Customers with End-to-End Edge AI Solutions Integrating Sensors, Processors and Software- -Expands Product Portfolio to Support New Audio Applications in Consumer and Industrial Markets--Generated Revenue of Approximately $256 Million in 2023 - IRVINE, Calif., Dec. 30, 2024 (GLOBE NEWSWIRE) -- Syntiant Corp., the recognized leader in low power edge AI deployments, today announced it has completed the acquisition of Knowles Corporation’s (NYSE: KN) Consumer MEMS Microphones (CMM) business for $150 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 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 30, 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: 001-36102 Knowles Corporation (Exact name of registrant as specified in its charter) Delaware 90-1002689 (St ...