Financial Data and Key Metrics Changes - The second quarter revenue was $245 million, down 7% year-over-year, but above the midpoint of guidance [113] - Non-GAAP earnings per share ended slightly above the midpoint of guidance at $1.04, primarily due to revenue upside and favorable operating expenses [114] - GAAP earnings per share were $0.33 for the quarter, slightly below guidance [5] - Non-GAAP gross margin ended lower than expected at 58.9% due to product mix [26] - GAAP operating expenses were $127 million, while non-GAAP operating expenses were $104 million [114][26] Business Line Data and Key Metrics Changes - The Industrial and Commercial business unit achieved $165 million in revenue, up 15% year-over-year [4] - The Home & Life business unit declined 33% year-over-year to $80 million, impacted by high levels of customer inventory [91] - The design win pipeline increased by 23% year-over-year in the first half of 2023, indicating strong momentum [3] Market Data and Key Metrics Changes - Europe showed the greatest strength in Q2, with revenue up 14% year-on-year, while revenue for APAC and the Americas was down year-on-year [91] - Days sales outstanding (DSO) remained stable at 79 days [91] - The largest customer accounted for less than 4% of revenue, with the top 10 customers representing about 24% of revenue [91] Company Strategy and Development Direction - The company is focused on disciplined execution and managing expenses without impacting long-term potential [29] - The Series 2 product portfolio is expected to capture market share, with strategic inventory being accumulated ahead of anticipated market recovery [29] - The company is preparing for the launch of the Series 3 platform, which represents a significant advancement in IoT technology [31] Management's Comments on Operating Environment and Future Outlook - Management noted ongoing market headwinds and broad demand weakness, but expressed confidence in mid- and long-term revenue growth potential [90] - The company is experiencing low levels of bookings, impacting both business units, and expects revenue for Q3 to decline [93] - Management highlighted that the current environment is characterized by weak customer visibility and confidence, affecting ordering patterns [54] Other Important Information - The company ended the quarter with cash and investments of $506 million and a total inventory of $146 million [92] - The company executed a buyback of approximately $184 million, retiring around 1.3 million shares [27] - The company is participating in two upcoming conferences to enhance visibility and engagement with investors [98] Q&A Session Summary Question: What is the expected steady state sell-through for the Home and Life segment? - Management indicated that the Home and Life segment has been significantly impacted by customer inventory levels, and they expect a period of adjustment to clear this inventory [35][100] Question: Can you elaborate on the inventory position in Industrial and Commercial? - Management acknowledged that while Industrial and Commercial have shown resilience, they are also experiencing some inventory corrections, and the market environment remains challenging [108] Question: How is the company managing operating expenses in the current environment? - Management stated that recent reductions in operating expenses are primarily discretionary and temporary, with plans to revert these actions as market conditions improve [18] Question: What is the outlook for the Series 2 product ramp? - Management confirmed that the Series 2 ramp has already started and is expected to contribute significantly to revenue growth over the coming years [57] Question: How is the company addressing the impact of the new cybersecurity labeling initiative? - Management indicated that while the initiative is important, it will take time to see a significant impact on the top line, as such changes typically unfold gradually [74]

Silicon Laboratories Inc. (NASDAQ:SLAB) Q1 2023 Earnings Conference Call April 26, 2023 8:30 AM ET Matt Johnson - President and Chief Executive Officer Matt Ramsay - TD Cowen Raji Gill - Needham & Company Operator Giovanni Pacelli We will take questions after our prepared comments, and our remarks today will include forward-looking statements subject to risks and uncertainties. We base these forward-looking statements on information available to us as of the date of this conference call and assume no obliga ...

SILICON LABS | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-----------------------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Silicon Labs Investor | | | | | | | | | Presentation | | | | | | | | | April 26, 2023 | | | | | | | This presentation contains forward-looking statements based on Silicon Labs' current expectations. The words "believe", "estimate", "expect", "intend", "anticipate", "plan", ...

Silicon Labs (NASDAQ:SLAB) Q4 2022 Earnings Conference Call February 1, 2023 8:30 AM ET Company Participants Matt Johnson - President, Chief Executive Officer John Hollister - Senior Vice President, Chief Financial Officer Giovanni Pacelli - Senior Director, Finance Conference Call Participants Matt Ramsay - Cowen Gary Mobley - Wells Fargo Securities Tore Svanberg - Stifel Raji Gill - Needham & Co. Blayne Curtis - Barclays Operator Good morning everyone. My name is Jamie and I’ll be your operator today. W ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (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, 2022 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: 000-29823 SILICON LABORATORIES INC. (Exact name of registrant as specified in its charter) 74-2793174 (I.R.S. Employer I ...

Silicon Laboratories, Inc. (NASDAQ:SLAB) Q3 2022 Earnings Conference Call October 26, 2022 8:30 AM ET Company Participants Giovanni Pacelli - Senior Director of Finance John Hollister - Chief Financial Officer Matt Johnson - President and Chief Executive Officer Austin Dean - Investor Relations Conference Call Participants Matthew Ramsay - Cowen Gary Mobley - Wells Fargo Securities Blayne Curtis - Barclays Rajvindra Gill - Needham & Company Jeremy Kwan - Stifel Nicholas Operator Good day, everyone. My name ...

SILICON LABS | --- | --- | --- | --- | --- | --- | --- | --- | |------------------|-----------------------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Silicon Labs Investor | | | | | | | | | Presentation | | | | | | | | October 26, 2022 | | | | | | | | | | | | | | | | | Private Securities Litigation Reform Act of 1995 This presentation contains forward-looking statements based on Silicon Labs' current expectat ...

Silicon Laboratories Inc. (NASDAQ:SLAB) Q2 2022 Earnings Conference Call July 27, 2022 8:30 AM ET Company Participants Giovanni Pacelli - Senior Director of Finance Matt Johnson - President and Chief Executive Officer John Hollister - Chief Financial Officer Conference Call Participants Raji Gill - Needham & Company Gary Mobley - Wells Fargo Securities Matt Ramsay - Cowen & Company Tore Svanberg - Stifel Nicolaus Blayne Curtis - Barclays Operator Hello. My name is Sarah, and I will be your conference operat ...

Company Overview - Silicon Labs is a leader in secure, intelligent wireless technology, serving approximately 25,000 customers and holding around 1,400 patents[5,8,9] - The company's vision is to empower developers to create wirelessly connected devices that transform industries, grow economies, and improve lives[14] Market Position and Growth - Silicon Labs consistently outperforms the market in year-over-year growth[26,27] - The Edge IoT market is large and accelerating, with an estimated market opportunity of $17.4 billion[28,29] - The Industrial & Commercial market segment is experiencing a 15% SAM CAGR from 2021-2025 due to global utility refresh and smart infrastructure deployments[30] - The Home & Life market segment shows durable demand and a growing opportunity, with a CAGR of over 12% from 2021-2025[31] Strategy and Portfolio - Silicon Labs has a broad and deep wireless portfolio, unmatched in the industry[39] - The company is an ecosystem leader, defining the future of IoT with a wide range of protocols and technology partners[37,44] - Silicon Labs is positioned to win, lead, and scale in the Home & Life market, actively shaping the future of IoT[43] Financial Performance and Targets - The company is targeting a long-term revenue CAGR of approximately 20%[46] - Silicon Labs aims for a long-term target model with mid-50s% gross margin and operating income in the mid-20s% of sales at $1.5 billion revenue[46] - The company has a $15.5 billion opportunity pipeline and design win growth of +44% in 2021[46]

Financial Data and Key Metrics Changes - Revenue for Q1 2022 reached a record $234 million, representing a 48% year-on-year growth, exceeding guidance [6][10] - Non-GAAP gross margin was nearly 67%, driven by selling lower-cost inventory from 2021, with expectations of moderation in future quarters [10][13] - Non-GAAP operating margin for Q1 was 24%, attributed to strong revenue performance and effective operating expense leverage [12] - Non-GAAP earnings per share for Q1 was $1.05, significantly above guidance [13][19] Business Line Data and Key Metrics Changes - Industrial & Commercial business generated $127 million in revenue, growing 61% year-on-year, with strong performance in commercial infrastructure and industrial applications [7] - Home & Life business revenue was $107 million, up 35% year-on-year, driven by smart home and security applications [8] - Distribution channel revenue accounted for 82% of total sales, indicating a broad customer base with no single customer exceeding 5% of revenue [8][9] Market Data and Key Metrics Changes - Revenue growth was observed across all geographies, with the Americas showing the strongest growth, followed by Europe and Asia Pacific [9] - The geographical mix of the business is now balanced across the Americas, Europe, and Asia Pacific [9] Company Strategy and Development Direction - The company aims to lead the IoT market, focusing on wireless connectivity and expanding its platform-based approach to address a wide range of applications [25][32] - The opportunity pipeline has grown to over $14 billion, indicating strong future revenue potential [24] - The company is preparing for the release of the new Matter standard, which is expected to enhance its product offerings [27] Management's Comments on Operating Environment and Future Outlook - Management noted that demand continues to outpace supply, with design win momentum increasing by 79% year-on-year [23][24] - The company anticipates revenue growth in Q2 2022 to range between $245 million and $255 million, with expected declines in gross margin due to rising manufacturing costs [17][19] - Management expressed confidence in navigating supply chain challenges and maintaining strong operational performance [39][50] Other Important Information - The company ended Q1 with cash and investments of $1.9 billion and returned $250 million to shareholders through share repurchases [15][16] - The board authorized an additional $350 million in share repurchases for the remainder of the year [16] Q&A Session Summary Question: Revenue growth expectations for fiscal year 2022 - Management remains encouraged by strong business momentum and design win growth, but will guide one quarter at a time [38] Question: Gross margin outlook - Management expects gross margins to moderate, potentially falling below 60% by the end of the fiscal year due to various cost pressures [41] Question: Segment growth rates - Industrial & Commercial is expected to have slightly higher growth potential compared to Home & Life, driven by larger market opportunities [45] Question: Supply chain predictability - Management indicated that supply chain conditions are becoming more predictable, although constraints remain [46] Question: Impact of lockdowns in China - The company has been able to navigate supply chain challenges effectively, despite concerns regarding lockdowns in China [50] Question: Inventory management and customer behavior - Management noted that while customers may consider holding more inventory, it is too early to determine long-term strategies [63][64] Question: Pricing strategy for new contracts - The company aims to provide competitive pricing for design wins, ensuring long-term pricing stability [69] Question: Capacity conditions with foundry partners - Management expressed confidence in securing additional supply from foundry partners, with a focus on meeting future demand [75]