Financial Performance & Outlook - Silicon Labs' Q4 2024 revenue reached $166 million, showing a 91% year-over-year growth compared to Q4 2023's $87 million[7, 16] - The company's GAAP loss per share improved by 67% from $(2.19) in Q4 2023 to $(0.73) in Q4 2024[25] - Non-GAAP loss per share improved by 91% from $(1.19) in Q4 2023 to $(0.11) in Q4 2024[25] - For Q1 2025, revenue is projected to be between $170 million and $185 million[30] Segment Performance - Home & Life revenue for Q4 2024 was $78 million[15] - Industrial & Commercial revenue for Q4 2024 was $89 million[15] - Full-year 2024 Home & Life revenue was $246 million, a 14% decrease year-over-year compared to $286 million in 2023[38] - Full-year 2024 Industrial & Commercial revenue was $339 million, a 32% decrease year-over-year compared to $497 million in 2023[41] Market & Strategy - The Edge IoT market is projected to reach $17.4 billion in 2025, reflecting an approximate 12% CAGR[11] - Silicon Labs has over 1,500 patent assets and serves approximately 21,000 customers[10]

Revenue Performance - Fourth quarter revenue was $166 million, nearly doubling from $86.8 million in the same quarter last year, representing a growth of approximately 91%[3] - Industrial & Commercial revenue for the quarter was $89 million, down 8% sequentially, while Home & Life revenue was $78 million, up 11% sequentially[4] - The company expects first-quarter revenue to be between $170 million to $185 million, with GAAP diluted loss per share projected between $(0.75) to $(1.05)[4] - The company anticipates sequential revenue growth to resume in the first quarter of 2025, driven by design wins across key focus areas[3] Profitability and Loss - GAAP gross margin was 54.3%, with a non-GAAP gross margin of 54.6%[4] - Total operating expenses for the fourth quarter were $119 million, with GAAP operating loss of $29 million[4] - The company reported a net loss of $23.8 million for the fourth quarter, translating to a diluted loss per share of $(0.73)[11] - Non-GAAP diluted loss per share is expected to range from $0.01 to $(0.19) for the first quarter[4] - Net loss for the year ended December 28, 2024, was $191,010 thousand, compared to a net loss of $34,516 thousand in 2023, representing a significant increase in losses[22] Expenses and Investments - Research and development expenses for the fourth quarter were $82.4 million, accounting for 49.6% of revenue[15] - Stock-based compensation expense rose to $61,503 thousand in 2024, up from $48,208 thousand in 2023, indicating an increase of approximately 27.6%[22] - Net cash provided by investing activities was $113,117 thousand in 2024, a significant decrease from $469,808 thousand in 2023, representing a decline of approximately 76.1%[22] Balance Sheet and Cash Flow - Total assets decreased from $1,443,056 thousand in 2023 to $1,222,674 thousand in 2024, a decline of approximately 15.3%[20] - Cash and cash equivalents increased from $227,504 thousand at the beginning of the period to $281,607 thousand at the end, marking a rise of approximately 23.8%[22] - Total current liabilities decreased from $163,570 thousand in 2023 to $97,883 thousand in 2024, a reduction of about 40.1%[20] - Net cash used in operating activities improved from $30,348 thousand in 2023 to $13,910 thousand in 2024, reflecting a decrease in cash outflow of about 54.2%[22] - Total stockholders' equity decreased from $1,208,682 thousand in 2023 to $1,080,021 thousand in 2024, a decline of about 10.6%[20] Inventory and Receivables - Accounts receivable increased from $29,295 thousand in 2023 to $54,479 thousand in 2024, an increase of approximately 85.9%[20] - Inventories decreased significantly from $194,295 thousand in 2023 to $105,639 thousand in 2024, a reduction of about 45.5%[20] Strategic Focus - Silicon Labs continues to focus on expanding its market presence and developing new technologies to enhance its product offerings[6]

Core Viewpoint - Silicon Labs reported strong fourth-quarter results for 2024, with revenue nearly doubling year-over-year, and anticipates sequential revenue growth in the first quarter of 2025 due to increasing design wins in key focus areas [2][3]. Financial Performance - Fourth-quarter revenue was $166 million, a significant increase from $86.8 million in the same quarter of the previous year [6][9]. - Industrial & Commercial revenue was $89 million, down 8% sequentially, while Home & Life revenue was $78 million, up 11% sequentially [6]. - GAAP gross margin was 54.3%, with GAAP operating expenses at $119 million, resulting in a GAAP operating loss of $29 million [6][9]. - Non-GAAP gross margin was 54.6%, with non-GAAP operating expenses at $98 million, leading to a non-GAAP operating loss of $7 million [6][10]. Business Outlook - The company expects first-quarter revenue to be between $170 million and $185 million [3][14]. - GAAP gross margin is projected to be between 54% and 56%, with GAAP operating expenses estimated at approximately $128 million to $130 million [6][14]. - Non-GAAP diluted earnings (loss) per share is expected to range from $0.01 to $(0.19) [6][14]. Cash Flow and Balance Sheet - Cash and cash equivalents increased to $281.6 million from $227.5 million year-over-year [16][17]. - Total assets decreased to $1.22 billion from $1.44 billion year-over-year, with total liabilities also decreasing [16][17].

Core Insights - The BG22L and BG24L SoCs from Silicon Labs are designed to meet the evolving demands of the IoT market, offering a combination of security, processing power, and connectivity for cost-sensitive, low-power applications [2][6] - The introduction of Bluetooth 6.0 and Channel Sounding technology enhances the capabilities of these SoCs, enabling precise distance measurement and a variety of applications such as item finding and wireless access control [2][3] Product Features - The BG24L SoC features a 78 MHz ARM Cortex M33 processor, 768 kB of Flash, and 96 kB of RAM, optimized for Bluetooth Channel Sounding applications [4] - The BG22L is designed for common wireless applications, offering up to ten years of battery life on a coin cell battery, with ultra-low power consumption and high reliability [6][7] - Both SoCs support Bluetooth 5.4 and Bluetooth Direction Finding, with the BG22L featuring a 38.4 MHz ARM Cortex M33 processor, up to 352 kB of Flash, and up to 24 kB of RAM [8] AI/ML Capabilities - The BG24L includes a proprietary Matrix Vector Processor (MVP) AI/ML accelerator, providing up to 8x faster inferencing performance while using only 1/6th of the power compared to traditional methods [5] - This makes the BG24L suitable for time-series data applications in IoT, such as sensors and predictive maintenance, enhancing the accessibility of edge AI [5] Market Availability - Both the BG22L and BG24L are expected to be generally available in Q2 of 2025, with promotional activities planned to showcase their features [8][9]

Core Points - Silicon Labs plans to release its fourth quarter 2024 financial results on February 4, 2025 [1] - An earnings conference call will take place at 7:30 a.m. Central Time following the results release [1] - The call will be streamed on the company's Investor Relations website [1] Company Overview - Silicon Labs is a leader in secure, intelligent wireless technology aimed at creating a more connected world [3] - The company offers an integrated hardware and software platform, development tools, and a robust ecosystem to support advanced applications across various sectors [3] - Silicon Labs focuses on helping developers address complex wireless challenges and accelerate time-to-market with innovative solutions [3]

I recommended a buy rating for Silicon Laboratories (NASDAQ: SLAB ) when I wrote about it in July last year, as I was bullish on SLAB reporting growth recovery as the inventory oversupply situation continued toI consider an investment ideal if it performs its core business in a sector projected to experience structural (organic) growth in excess of GDP growth over the next 5-10 years; profits from sustainable competitive advantages that translate into attractive unit economics; In the hands of competent, et ...

New SiWx917Y Modules Offer Plug-and-Play Simplicity with Global RF Certifications AUSTIN, Texas, Dec. 3, 2024 /PRNewswire/ -- Today Silicon Labs (NASDAQ: SLAB), a leader in secure, intelligent wireless technology for a more connected world, announced the SiWx917Y ultra-low power Wi-Fi® 6 and Bluetooth® Low Energy (LE) 5.4 modules. The SiWx917Y Module is pre-certified with global Wi-Fi standards to help designers get to market faster. Credit: Silicon Labs As an extension of the successful Series 2 platf ...

AUSTIN, Texas, Nov. 25, 2024 /PRNewswire/ -- Silicon Labs, a leader in secure, intelligent wireless technology, today announced that they scored in the top 1 percent of companies in EcoVadis's Environment, Sustainability, and Governance (ESG) ratings with an overall score of 83 out of 100."EcoVadis is a widely recognized assessor of business and supply chain sustainability and governance best practices," said Dean Butler, Chief Financial Officer at Silicon Labs. "By scoring in the 99th percentile, Silicon L ...

With the exception of companies highly leveraged to large tech companies throwing money hand over fist at AI, a great many semiconductor companies have languished as end-market demand and customer destocking have slowed in recent quarters. Again, apart from AI, not manyAnalyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opin ...

Silicon Laboratories (SLAB) came out with a quarterly loss of $0.13 per share versus the Zacks Consensus Estimate of a loss of $0.21. This compares to earnings of $0.62 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 38.10%. A quarter ago, it was expected that this chipmaker would post a loss of $0.64 per share when it actually produced a loss of $0.56, delivering a surprise of 12.50%.Over the last four quarters, the company h ...