Financial Performance - Net revenue for Q1 fiscal 2026 was $292.5 million, representing a 14% year-over-year increase[2] - GAAP net loss for Q1 fiscal 2026 was $20.6 million, or a loss of $0.53 per basic share[2] - Non-GAAP net income for Q1 fiscal 2026 was $43.3 million, or $1.09 per diluted share[2] - Net revenue for the three months ended September 2025 was $292.5 million, an increase of 13.5% compared to $257.7 million in September 2024[28] - Operating loss for the quarter was $23.2 million, an improvement from a loss of $28.4 million in the same quarter last year[28] - Net loss for the quarter was $20.6 million, compared to a net loss of $23.1 million in September 2024[28] - Non-GAAP net income for the quarter was $43.3 million, up from $32.5 million in the same period last year[30] Revenue Projections - The company expects approximately $300 million in revenue for Q2 fiscal 2026, with a projected year-over-year growth of about 12%[6] Margins - Projected GAAP gross margin for Q2 fiscal 2026 is 43.0% ± 2.0%[6] - Non-GAAP gross margin for Q2 fiscal 2026 is expected to be 53.5% ± 1.0%[6] - Gross margin for the same period was $124.6 million, representing 42.6% of revenue, down from 46.9% in the previous year[30] Cash and Assets - Cash and cash equivalents at the end of the period increased to $459.9 million from $391.5 million at the beginning of the period[32] - Total assets decreased slightly to $2,577.1 million from $2,584.4 million in June 2025[26] - Total liabilities decreased to $1,176.5 million from $1,189.5 million in June 2025[26] Research and Development - Research and development expenses increased to $94.4 million, up from $81.3 million in the same quarter last year[30] Strategic Initiatives - The company achieved a key milestone with the launch of next-generation Astra processors, aimed at intelligent Edge applications[3] - The backlog for the quarter is reported to be healthy, indicating solid demand[4] - The company plans to continue returning capital to stockholders through share repurchases while investing in organic growth initiatives[4] Non-Cash Operating Items - Non-cash operating items for the quarter were $77.6 million, compared to $47.5 million in September 2024[32] Core Product Performance - Core IoT product sales surged by 74% year-over-year, reaching their highest level in three years[4]

Core Financial Performance - Synaptics reported net revenue of $292.5 million for Q1 fiscal 2026, reflecting a 14% year-over-year increase from $257.7 million in Q1 fiscal 2025 [2][28] - The company experienced a GAAP net loss of $20.6 million, or $0.53 per basic share, compared to a loss of $23.1 million, or $0.58 per share, in the same quarter last year [2][28] - Non-GAAP net income for the quarter was $43.3 million, translating to $1.09 per diluted share, up from $32.5 million, or $0.81 per diluted share, in Q1 fiscal 2025 [2][30] Product and Market Developments - Core IoT product sales surged by 74% year-over-year, marking the highest level in three years, which significantly contributed to the overall revenue growth [3][4] - The launch of the next-generation Astra processors, designed for intelligent Edge applications, was a key milestone for the company during the quarter [3][4] - The company hosted a successful Tech Day, showcasing its technology leadership in processors, wireless connectivity, and mixed-signal solutions for Edge AI applications [3] Business Outlook - The CFO indicated that the company expects approximately 12% year-over-year revenue growth in the fiscal second quarter, continuing a trend of increasing revenues for six consecutive quarters [4] - The company maintains a healthy backlog and lean channel inventories, positioning itself well for future growth [4] - Synaptics plans to invest in key organic growth initiatives while returning capital to stockholders through share repurchases [4] Financial Metrics - For the second quarter of fiscal 2026, Synaptics anticipates revenue of approximately $292.5 million, with a GAAP gross margin of 42.6% and a non-GAAP gross margin of 53.2% [5][6] - Projected operating expenses are expected to be around $152 million, with non-GAAP operating expenses estimated at $106 million [5][6] - The company reported a gross margin of 43.0% for the first quarter, with non-GAAP gross margin reaching 53.5% [5][6]

Core Insights - Semiconductor companies are expected to report strong performance in Q3 2025, driven by solid demand and a 15.8% quarter-over-quarter increase in global semiconductor sales to $208.4 billion [1][10] Industry Performance - The semiconductor industry is benefiting from robust sales growth across various products, including microprocessors, memory chips, and advanced driver assistance systems [3] - Demand from hyperscalers, cloud service providers, and AI companies is driving the rise in microchip sales, with significant capital expenditure directed towards acquiring more powerful chips [4] - Inventory normalization among industrial and automotive customers, particularly in the Chinese electric vehicle market, is contributing to sales growth [5] Company-Specific Insights - nLight is expected to report revenues of $62.49 million, an 11.3% increase year-over-year, with strong performance in the Aerospace and Defense market [8][9] - Applied Optoelectronics anticipates revenues of $119.91 million, an 84.1% increase year-over-year, driven by demand in Datacenter and CATV businesses [12][13] - Diodes expects revenues of $392.5 million, a 12.1% increase year-over-year, supported by demand in AI-related applications and the China EV market [15][16][17] - Nova's revenues are projected to increase, benefiting from rising demand in logic and advanced packaging segments, with a bottom line estimate of $2.12 per share, a 21.8% year-over-year increase [18][19][20] - Synaptics anticipates revenues of $289.4 million, a 12.3% increase year-over-year, with strong momentum in its Core IoT business and new product launches [22][23][24]

Financial Data and Key Metrics Changes - The meeting confirmed that a total of 39,050,213 shares of common stock were outstanding and entitled to vote, with 36,497,062 shares represented by proxy, indicating approximately 93.46% of all shares entitled to vote were present, thus constituting a quorum [6][8]. Business Line Data and Key Metrics Changes - The meeting included proposals for the election of six directors and the ratification of KPMG LLP as the Independent Auditor for the fiscal year ending June 27, 2026, which were all approved [11][15]. Market Data and Key Metrics Changes - No specific market data or key metrics changes were discussed during the meeting. Company Strategy and Development Direction - The company is focused on enhancing its equity and incentive compensation plans, with proposals to increase share reserves under these plans by 1,900,000 shares and 1,500,000 shares respectively [12]. Management's Comments on Operating Environment and Future Outlook - Management did not provide specific comments on the operating environment or future outlook during this meeting. Other Important Information - The final report of the Inspector of Election will be filed with the records of the meeting, and results will be reported on a Form 8-K to be filed with the SEC within the next four business days [17]. Q&A Session Summary Question: Were there any questions on Proposals 1 through 4? - No specific questions were recorded during the meeting regarding the proposals [14].

Financial Data and Key Metrics Changes - The company reported a total of 39,050,213 shares of common stock outstanding as of September 4, 2025, with approximately 93.46% represented at the meeting [6][8]. Business Line Data and Key Metrics Changes - The meeting included proposals for the election of six directors and the ratification of KPMG LLP as the Independent Auditor for the fiscal year ending June 27, 2026, indicating ongoing governance and oversight [11][12]. Market Data and Key Metrics Changes - No specific market data or key metrics were discussed in the provided content. Company Strategy and Development Direction and Industry Competition - The company is focused on governance through the election of directors and the approval of compensation plans, which suggests a commitment to aligning executive incentives with shareholder interests [11][12][15]. Management's Comments on Operating Environment and Future Outlook - Management did not provide specific comments on the operating environment or future outlook in the provided content. Other Important Information - The company plans to report the final results of the voting on a Form 8-K to be filed with the SEC within the next four business days, ensuring transparency and compliance with regulatory requirements [17]. Q&A Session All Questions and Answers Question: Were there any questions on Proposals 1 through 4? - No specific questions were recorded in the provided content, but the polls were declared closed shortly after, indicating that all voting participants had cast their votes [14].

Financial Data and Key Metrics Changes - The meeting confirmed that the 2025 Annual Report, including financial statements certified by KPMG LLP, was made available to stockholders [4] - A total of 39,050,213 shares of common stock were outstanding and entitled to vote, with approximately 93.46% represented by proxy at the meeting [6] Business Line Data and Key Metrics Changes - The meeting included proposals for the election of six directors and the ratification of KPMG LLP as the Independent Auditor for the fiscal year ending June 27, 2026 [11][12] - The share reserve under the amended and restated 2019 Equity and Incentive Compensation Plan will be increased by 1,900,000 shares if approved [12] Market Data and Key Metrics Changes - No specific market data or key metrics changes were discussed during the meeting [0] Company Strategy and Development Direction and Industry Competition - The company is focused on maintaining strong governance through the election of directors and the approval of compensation plans for executive officers [11][12] Management's Comments on Operating Environment and Future Outlook - Management did not provide specific comments on the operating environment or future outlook during this meeting [0] Other Important Information - The final report of the Inspector of Election will be filed with the records of the meeting, and results will be reported on a Form 8-K to be filed with the SEC within the next four business days [17] Q&A Session All Questions and Answers Question: Were there any questions on Proposals 1 through 4? - The polls were closed, and the results indicated that all proposals were approved, including the election of directors and the ratification of KPMG LLP as the Independent Auditor [14][15]

Core Insights - Metirionic GmbH has successfully integrated its Metirionic Advanced Ranging Stack (MARS) with Synaptics' Bluetooth portfolio, enabling true 3D localization and precise spatial awareness [1][2] - The MARS implementation is fully compliant with Bluetooth Core Specification 6.1 and is optimized for Android mobile devices and Synaptics Astra™ Embedded Linux IoT systems [1][4] - This collaboration enhances Bluetooth-based location technologies, providing applications such as secure access, indoor navigation, and proximity-based services [3][5] Technology and Features - The combination of Synaptics' Bluetooth hardware and Metirionic's MARS stack allows for advanced Channel Sounding, extending beyond traditional methods like Phase-Based Ranging (PBR) and Round-Trip Time (RTT) [2] - MARS provides angle estimation directly from the channel sounding procedure, overcoming previous limitations in direction-finding and adding directional awareness to precise ranging [2][6] - The architecture allows developers to balance latency, accuracy, and complexity, making it suitable for various applications from high-end systems to resource-constrained devices [2][4] Applications and Use Cases - Real-world applications include secure access in industrial facilities, guiding visitors in office buildings, reliable asset tracking, and proximity-based services [3][6] - The technology enables seamless user experiences, such as automatically disarming alarms when in proximity, showcasing its potential in access control and context-aware interactions [7][8] Market Position and Future Outlook - The partnership between Metirionic and Synaptics positions both companies to lead in Bluetooth innovation, expanding into new applications where precise distance and spatial awareness are critical [5][6] - MARS is now available on Synaptics' connectivity and processing technology, facilitating broader adoption and engagement with mobile device partners [8]

Core Insights - Synaptics Incorporated will report its financial results for the first quarter of fiscal 2026 on November 6, 2025, after market close [1] - A conference call for analysts and investors will be held at 2:00 p.m. PT (5:00 p.m. ET) to discuss the results [1] Company Overview - Synaptics is focused on driving innovation in AI at the Edge, enhancing user engagement with intelligent connected devices across various environments [3] - The company offers advanced solutions including Synaptics Astra™ AI-Native embedded compute, Veros™ wireless connectivity, and multimodal sensing technologies [3] - Synaptics aims to create smarter, faster, and more intuitive digital experiences, covering areas such as touch, display, biometrics, and AI-driven connectivity [3]

Core Insights - Synaptics has announced the Astra SL2600 Series of multimodal Edge AI processors aimed at enhancing power and performance for intelligent devices, facilitating the cognitive Internet of Things (IoT) [1][5] Product Overview - The SL2600 Series will debut with the SL2610 product line, which includes five processor families designed for various Edge AI applications, such as smart appliances, automation equipment, healthcare devices, and autonomous systems [2][4] - The Astra SL2610 processors utilize the Synaptics Torq Edge AI platform, featuring advanced NPU architectures and open-source compilers, setting a new standard for IoT AI application development [3][5] Technical Specifications - The SL2610 product line integrates Arm Cortex-A55, Cortex-M52 with Helium, and Mali GPU technologies, focusing on security features like immutable root of trust and threat detection [3][4] - The processors are designed for a range of applications, from battery-powered devices to high-performance industrial systems, emphasizing power efficiency and seamless connectivity with Synaptics Veros [4][5] Industry Collaboration - Synaptics is collaborating with Google to integrate the Coral NPU ML accelerator, aiming to simplify development and enhance user experiences in Edge AI [6] - Various industry leaders, including Sonos, Cisco, and Deutsche Telekom, have expressed confidence in Synaptics' technology and its potential to drive innovation in their respective fields [7][9][10] Market Availability - The Astra SL2610 product line is currently sampling to customers, with general availability expected in Q2 2026 [14] Company Background - Synaptics is positioned as a leader in AI at the Edge, focusing on transforming user engagement with intelligent connected devices across various environments [15][16]

Core Viewpoint - Deutsche Bank has initiated coverage on Synaptics Incorporated (NASDAQ:SYNA) with a Buy rating and a price target of $85, highlighting a positive outlook as the company transitions from a mobile-centric focus to a broader provider of connectivity and processor solutions across various industries [1][2]. Group 1: Revenue and Market Position - Synaptics has reduced its mobile revenue concentration from approximately 40% and customer concentration with Apple Inc. from about 30% of sales, indicating a strategic shift towards diversification [2]. - The investment bank anticipates that Synaptics' revenue, margin, and EPS growth will accelerate, driven by the core IoT segment and cyclical rebounds in the Enterprise and Auto segments [3]. Group 2: Product Offerings - Synaptics designs and sells custom semiconductor solutions for a variety of applications, including human-machine interfaces and AI-native embedded computing, positioning itself in high-growth areas of technology [3].