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Lattice Semiconductor(LSCC) - 2022 Q2 - Earnings Call Transcript
2022-08-02 02:11
Financial Data and Key Metrics Changes - The company reported record quarterly revenue of $161.4 million, representing a 28% year-over-year growth and a 7% sequential increase [23][9] - Non-GAAP gross margin expanded by 700 basis points year-over-year to a record 69.1% and increased by 140 basis points sequentially [24][11] - Non-GAAP operating margin reached a record 38.1%, up 900 basis points year-over-year and 180 basis points sequentially [26][11] - Non-GAAP earnings per diluted share were $0.42, a 68% increase from $0.25 in the same quarter last year [27] Business Line Data and Key Metrics Changes - In the communications and computing market, revenue increased 35% year-over-year and 13% sequentially, with strong growth in data centers and 5G infrastructure [12][10] - The industrial and automotive market saw a 30% year-over-year growth and a 7% sequential increase, driven by new customer platforms [14][10] - Consumer market revenue declined 1% year-over-year and 17% sequentially, but this segment represents less than 10% of total revenue [15][23] Market Data and Key Metrics Changes - The company is experiencing strong demand in strategic markets such as communications, computing, industrial, and automotive, while facing softness in the consumer electronics market [10][15] - The attach rate in data centers is now well over 1x, indicating increased content per server [13][34] Company Strategy and Development Direction - The company is focused on expanding its product portfolio, with recent launches including the MachXO5-NX device and the Lattice 5G ORAN solution stack [11][20] - The upcoming Lattice Avant platform is expected to double the addressable market and enhance capabilities in mid-range FPGA applications [17][18] - Continued investment in software solutions is aimed at increasing customer adoption and enhancing product stickiness [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding macroeconomic pressures but remains optimistic about growth drivers in strategic markets and new product cycles [39][55] - The company anticipates a strong second half of the year, supported by healthy customer engagement and momentum [21][30] Other Important Information - The company ended the quarter with $118 million in cash after repurchasing approximately 735,000 shares [28] - The third quarter revenue guidance is expected to be between $161 million and $171 million, with gross margin projected at 69% [29] Q&A Session Summary Question: What is driving the strength in the current environment? - Management noted that growth is driven by strategic market segments, particularly communications and computing, and industrial and automotive [33][34] Question: How is the company managing macro pressures? - Management is monitoring demand signals closely while remaining optimistic about specific growth drivers [55][56] Question: What are the growth opportunities in greenfield markets? - Management highlighted automotive and PC markets as significant growth areas, with increasing electronic content expected [62][66] Question: How is the company addressing supply chain challenges? - Management indicated that while the supply chain remains tight, they have seen some improvement and have been able to support customers effectively [76][78] Question: What is the contribution of software to overall revenue? - Management stated that software attached to hardware generally results in higher ASPs, but specific quantification was not provided [120][122] Question: Will the company disclose revenue contributions from Nexus products? - Management indicated that they may consider disclosing this information in the future as Nexus ramps up [125][126]
Lattice Semiconductor(LSCC) - 2022 Q2 - Quarterly Report
2022-08-01 16:00
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 JULY 2, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM __________ TO __________ (503) 268-8000 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) o ...
Lattice Semiconductor(LSCC) - 2022 Q1 - Earnings Call Transcript
2022-05-04 02:54
Lattice Semiconductor Corporation (NASDAQ:LSCC) Q1 2022 Earnings Conference Call May 3, 2022 5:00 PM ET Company Participants Rick Muscha - Director of Investor Relations Jim Anderson - President and Chief Executive Officer Sherri Luther - Chief Financial Officer Conference Call Participants Alessandra Vecchi - William Blair & Company David Williams - Craig-Hallum Matthew Ramsay - Cowen Inc. Operator Good day and thank you for standing by. Welcome to the Lattice Semiconductor CorporationÂ's First Quarter of ...
Lattice Semiconductor(LSCC) - 2022 Q1 - Quarterly Report
2022-05-03 16:00
Commission file number 000-18032 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 APRIL 2, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM __________ TO __________ LATTICE SEMICONDUCTOR CORPORATION (Exact name of Registrant as specified in its cha ...
Lattice Semiconductor(LSCC) - 2021 Q4 - Earnings Call Transcript
2022-02-16 00:39
Financial Data and Key Metrics Changes - Annual revenue grew by 26% in 2021, with double-digit growth in each of the three market segments [9][27] - Non-GAAP gross margin expanded by 220 basis points year-over-year to a record 63.2% for the full year [10][28] - Non-GAAP net income grew 54% year-over-year in 2021, with a 65% year-over-year increase in Q4 [10][31] - Q4 revenue was $141.8 million, up 32% year-over-year and 7.5% sequentially [27] - Non-GAAP operating margin increased to a record 32.9% in Q4, up 630 basis points year-over-year [30] Business Line Data and Key Metrics Changes - Communications and computing market revenue increased 31% year-over-year, driven by Data Center Servers, Client Computing, and 5G infrastructure [12] - Industrial and automotive market revenue was up 32% year-over-year, with growth in industrial automation and automotive applications [15][16] - Consumer market revenue increased 18% year-over-year, primarily driven by new applications leveraging the FPGA portfolio [17] Market Data and Key Metrics Changes - Revenue from the Americas increased significantly due to investments in sales and application engineering teams [92][94] - The company expects continued growth in North America, Europe, and APAC due to a strong product portfolio and roadmap [95] Company Strategy and Development Direction - The company is focused on expanding its product portfolio, including the upcoming launch of the Lattice Avant platform, which will double the addressable market [19][24] - The acquisition of Mirametrix enhances the software capabilities, providing an end-to-end AI and computer vision solution [21][33] - The company aims to maintain strong growth in 2022, driven by momentum in customer engagement and new product cycles [24][35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth trajectory, citing strong demand across key segments and healthy supply expectations for 2022 [61] - The company anticipates continued gross margin expansion driven by pricing optimization and product cost efficiencies [57][101] Other Important Information - The company generated a record $168 million in cash from operations in 2021, representing an 83% increase compared to 2020 [32] - The acquisition of Mirametrix was completed for $68.5 million and is expected to contribute positively to gross margin and earnings per share [33] Q&A Session Summary Question: Drivers of growth acceleration in recent quarters - Management noted that growth was driven by the communications and computing, and industrial and automotive segments, both growing over 30% year-over-year in Q4 [39][42] Question: Limiting factors to growth in 2022 - Management indicated that while they expect strong growth, new product cycles and supply constraints could influence growth rates [58][61] Question: Contribution of Mirametrix to Q1 gross margin - Management confirmed that Mirametrix will contribute a full quarter of revenue in Q1, enhancing overall gross margin [66] Question: Competitive dynamics with the launch of Avant - Management believes the competitive landscape remains favorable and sees significant market opportunity in mid-range FPGA applications [82][84] Question: Impact of supply chain constraints on business - Management reported an acceleration in customers shifting from competitors to Lattice devices due to supply chain issues and strong product offerings [106][108] Question: Monetization strategy for Mirametrix - Management stated that Mirametrix will both lead sales and be integrated into existing customer accounts, enhancing overall revenue opportunities [114][117]
Lattice Semiconductor(LSCC) - 2021 Q3 - Earnings Call Transcript
2021-11-03 03:49
Lattice Semiconductor Corporation (NASDAQ:LSCC) Q3 2021 Earnings Conference Call November 2, 2021 5:00 PM ET Company Participants Rick Muscha - Senior Director of Investor Relations Jim Anderson - President, Chief Executive Officer & Director Sherri Luther - Chief Financial Officer & Corporate Vice President Conference Call Participants Alessandra Vecchi - William Blair Tristan Gerra - Robert W. Baird Hans Mosesmann - Rosenblatt Securities Matthew Ramsay - Cowen & Company David Williams - The Benchmark Comp ...
Lattice Semiconductor(LSCC) - 2021 Q3 - Quarterly Report
2021-11-02 16:00
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 OCTOBER 2, 2021 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 000-18032 LATTICE SEMICONDUCTOR CORPORATION (Exact name of Registrant as specified in its c ...
Lattice Semiconductor(LSCC) - 2021 Q2 - Earnings Call Transcript
2021-08-04 01:06
Lattice Semiconductor Corporation (NASDAQ:LSCC) Q2 2021 Earnings Conference Call August 3, 2021 5:00 PM ET Company Participants Rick Muscha - Director, Investor Relations Jim Anderson - President and CEO Sherri Luther - Chief Financial Officer Conference Call Participants Matt Ramsay - Cowen Alessandra Vecchi - William Blair Tristan Gerra - Baird Chris Rolland - Susquehanna Hans Mosesmann - Rosenblatt Sam Peterman - Craig-Hallum Capital Derek Soderberg - Collier Securities Operator Welcome everyone to the L ...
Lattice Semiconductor(LSCC) - 2021 Q2 - Quarterly Report
2021-08-03 16:00
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 JULY 3, 2021 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 000-18032 LATTICE SEMICONDUCTOR CORPORATION (Exact name of Registrant as specified in its char ...
Lattice Semiconductor(LSCC) - 2021 Q1 - Quarterly Report
2021-05-05 16:00
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 APRIL 3, 2021 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 000-18032 LATTICE SEMICONDUCTOR CORPORATION (Exact name of Registrant as specified in its cha ...