Core Insights - Synaptics Incorporated is actively participating in investor conferences, indicating a focus on investor relations and market engagement [1] - The company is positioned as a leader in AI innovation at the Edge, enhancing user interaction with connected devices [2] Group 1: Investor Engagement - Ken Rizvi, CFO, will participate in Deutsche Bank's Technology Conference on August 28, 2025 [1] - Rahul Patel, President & CEO, along with Ken Rizvi, will attend Citi's 2025 Global TMT Conference on September 4, 2025 [1] Group 2: Company Overview - Synaptics is driving innovation in AI at the Edge, transforming user engagement with intelligent connected devices [2] - The company offers advanced solutions including Synaptics Astra™ AI-Native embedded compute, Veros wireless connectivity, and multimodal sensing [2] - Synaptics aims to enhance digital experiences by making them smarter, faster, more intuitive, secure, and seamless across various applications [2]

PART I [ITEM 1. BUSINESS](index=6&type=section&id=ITEM%201.%20BUSINESS) Synaptics Incorporated designs and delivers AI-enabled edge solutions, wireless connectivity, and human interface technologies for various markets, focusing on technological leadership and IoT growth - Synaptics designs and delivers AI-enabled edge solutions, wireless connectivity, and human interface technologies[20](index=20&type=chunk) - The company's fiscal year is a 52- or 53-week period ending on the last Saturday in June[21](index=21&type=chunk) - In January 2025, Synaptics acquired certain assets and non-exclusive licenses related to Broadcom Inc.'s Wi-Fi technology to accelerate its Edge AI strategy and expand its Veros™ wireless product roadmap[31](index=31&type=chunk)[33](index=33&type=chunk) [Overview](index=6&type=section&id=Overview) This section provides a general introduction to the company's business operations and strategic direction [Target Markets and Products](index=6&type=section&id=Target%20Markets%20and%20Products) The company targets various markets including IoT, Enterprise, Automotive, and Mobile with a diverse product portfolio [Core IoT Applications Markets](index=6&type=section&id=Core%20IoT%20Applications%20Markets) Focuses on wireless, processors, and integrated solutions for the Internet of Things sector [Wireless](index=6&type=section&id=Wireless) Details the company's wireless product offerings within the IoT market [Processors](index=6&type=section&id=Processors) Describes the processor solutions provided for IoT applications [Integrated solutions with Astra, Veros and Human Interface products](index=6&type=section&id=Integrated%20solutions%20with%20Astra%2C%20Veros%20and%20Human%20Interface%20products) Highlights combined product offerings for comprehensive IoT solutions [Enterprise and Automotive Applications Markets](index=7&type=section&id=Enterprise%20and%20Automotive%20Applications%20Markets) Covers products and solutions tailored for enterprise and automotive sectors [PC Touchpad / Biometric Fingerprint](index=7&type=section&id=PC%20Touchpad%20%2F%20Biometric%20Fingerprint) Details products for PC input and biometric security [Video Interface](index=7&type=section&id=Video%20Interface) Describes video interface solutions for various applications [Automotive](index=7&type=section&id=Automotive) Focuses on products and technologies designed for the automotive industry [Mobile Applications Markets](index=7&type=section&id=Mobile%20Applications%20Markets) Outlines the company's offerings for the mobile device market [Acquisitions](index=7&type=section&id=Acquisitions) This section discusses the company's strategic acquisitions [Our Strategy](index=8&type=section&id=Our%20Strategy) Outlines the company's core strategic objectives and operational approaches [Extend Our Technological Leadership](index=8&type=section&id=Extend%20Our%20Technological%20Leadership) Focuses on advancing technology and innovation to maintain a competitive edge [Grow in the IoT Market](index=8&type=section&id=Grow%20in%20the%20IoT%20Market) Details strategies for expanding market share and presence within the Internet of Things sector [Pursue Strategic Relationships and Acquisitions](index=8&type=section&id=Pursue%20Strategic%20Relationships%20and%20Acquisitions) Emphasizes the importance of partnerships and M&A for growth [Fabless Semiconductor Manufacturing](index=8&type=section&id=Fabless%20Semiconductor%20Manufacturing) Describes the company's manufacturing model, relying on third-party foundries [Research and Development](index=8&type=section&id=Research%20and%20Development) Highlights the company's investment and activities in R&D for product innovation [Customers](index=10&type=section&id=Customers) This section provides information about the company's customer base [Sales and Marketing](index=10&type=section&id=Sales%20and%20Marketing) Details the company's strategies and operations for sales and marketing activities [Manufacturing](index=10&type=section&id=Manufacturing) Describes the company's manufacturing processes and supply chain management [Competition](index=11&type=section&id=Competition) Analyzes the competitive landscape and the company's position within it [Intellectual Property Rights](index=11&type=section&id=Intellectual%20Property%20Rights) Discusses the company's approach to protecting its intellectual property [Human Capital and Workforce Management](index=11&type=section&id=Human%20Capital%20and%20Workforce%20Management) Covers policies and practices related to employee management and development [Competitive Compensation and Benefits](index=11&type=section&id=Competitive%20Compensation%20and%20Benefits) Details the company's approach to employee remuneration and welfare programs [Employee Well-being](index=12&type=section&id=Employee%20Well-being) Focuses on initiatives and programs supporting employee health and welfare [Professional Development](index=12&type=section&id=Professional%20Development) Describes opportunities and resources for employee career growth and skill enhancement [Diversity and Inclusion](index=12&type=section&id=Diversity%20and%20Inclusion) Highlights the company's commitment to fostering a diverse and inclusive workplace [Corporate Responsibility](index=12&type=section&id=Corporate%20Responsibility) Outlines the company's environmental, social, and governance (ESG) initiatives [Information about our Executive Officers](index=13&type=section&id=Information%20about%20our%20Executive%20Officers) Provides details regarding the company's key executive leadership team [Available Information](index=14&type=section&id=Available%20Information) Indicates where public information about the company can be accessed [ITEM 1A. RISK FACTORS](index=15&type=section&id=ITEM%201A.%20RISK%20FACTORS) The company faces significant risks across its operations, including market volatility, intense competition, and evolving international trade policies - The company's revenue is substantially dependent on the cyclical, competitive, and evolving IoT, Enterprise and Automotive, and Mobile product applications markets, which are subject to volatility, economic risk, and uncertain growth[80](index=80&type=chunk)[81](index=81&type=chunk) - Changes to international trade policies, export controls, and geopolitical instability (e.g., U.S.-China trade tensions, Middle East conflicts) expose the company to legal, regulatory, and operational risks, including increased production costs and supply chain disruptions[84](index=84&type=chunk)[85](index=85&type=chunk)[86](index=86&type=chunk)[87](index=87&type=chunk)[89](index=89&type=chunk) - The company faces intense competition and its success depends on its ability to deliver innovative, high-performance solutions, particularly in rapidly evolving areas like AI, ML, edge computing, and connectivity[90](index=90&type=chunk)[94](index=94&type=chunk) [Risks Related to Our Industry and Business](index=15&type=section&id=Risks%20Related%20to%20Our%20Industry%20and%20Business) Details various risks inherent to the company's industry and general business operations [Risks Related to Acquisitions and Strategic Alliances](index=21&type=section&id=Risks%20Related%20to%20Acquisitions%20and%20Strategic%20Alliances) Addresses potential challenges and uncertainties associated with mergers, acquisitions, and partnerships [Risks Related to Our Employees](index=21&type=section&id=Risks%20Related%20to%20Our%20Employees) Covers risks associated with human capital, including talent retention and workforce management [Risks Factors Related to Our Future Growth, Capital Requirements and Indebtedness](index=22&type=section&id=Risks%20Factors%20Related%20to%20Our%20Future%20Growth%2C%20Capital%20Requirements%20and%20Indebtedness) Examines financial risks concerning growth, capital needs, and debt obligations [General Risk Factors](index=24&type=section&id=General%20Risk%20Factors) Outlines broad categories of risks that could impact the company's overall performance [ITEM 1B. UNRESOLVED STAFF COMMENTS](index=26&type=section&id=ITEM%201B.%20UNRESOLVED%20STAFF%20COMMENTS) This section indicates that there are no unresolved staff comments from the SEC - Not applicable[146](index=146&type=chunk) [ITEM 1C. CYBERSECURITY](index=26&type=section&id=ITEM%201C.%20CYBERSECURITY) Synaptics maintains a cybersecurity risk management program overseen by its Audit Committee to protect information systems - The cybersecurity risk management program is part of the overall enterprise risk management, designed to protect information systems and manage threats[147](index=147&type=chunk) - The Board of Directors delegates cybersecurity risk oversight to the Audit Committee, which reviews policies and practices biannually[151](index=151&type=chunk) - The company has not experienced a material cybersecurity incident, and related expenses were immaterial[150](index=150&type=chunk) [Risk Management and Strategy](index=26&type=section&id=Risk%20Management%20and%20Strategy) Details the company's approach to identifying, assessing, and mitigating cybersecurity risks [Governance](index=26&type=section&id=Governance) Describes the oversight structure and responsibilities for cybersecurity within the company [ITEM 2. PROPERTIES](index=27&type=section&id=ITEM%202.%20PROPERTIES) Synaptics' principal executive offices and R&D are in San Jose, California, with additional leased facilities globally - Principal executive offices and R&D are in San Jose, California (111,000 sq ft leased)[153](index=153&type=chunk) - Other R&D facilities are in California and Georgia (U.S.), India, Israel, Japan, Taiwan, France, Germany, Poland, and the U.K[153](index=153&type=chunk)[154](index=154&type=chunk) - Sales, administrative, and logistics functions are also supported by leased facilities in Japan, Taiwan, Hong Kong, China, Korea, and Switzerland[154](index=154&type=chunk) [ITEM 3. LEGAL PROCEEDINGS](index=27&type=section&id=ITEM%203.%20LEGAL%20PROCEEDINGS) Synaptics is involved in various litigation matters, but management believes the outcome will not materially affect its financials - The company is party to various litigation matters and claims arising in the ordinary course of business[155](index=155&type=chunk) - Management believes the final outcome of these matters will not materially adversely affect the business, financial condition, results of operations, or cash flows[155](index=155&type=chunk) [ITEM 4. MINE SAFETY DISCLOSURES](index=27&type=section&id=ITEM%204.%20MINE%20SAFETY%20DISCLOSURES) This section states that mine safety disclosures are not applicable to Synaptics Incorporated - Not applicable[156](index=156&type=chunk) PART II [ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES](index=28&type=section&id=ITEM%205.%20MARKET%20FOR%20REGISTRANT%27S%20COMMON%20EQUITY%2C%20RELATED%20STOCKHOLDER%20MATTERS%20AND%20ISSUER%20PURCHASES%20OF%20EQUITY%20SECURITIES) Synaptics' common stock trades on Nasdaq under 'SYNA', with 38.7 million shares outstanding and a new $150 million repurchase program - Common stock is listed on the Nasdaq Global Select Market under the symbol 'SYNA' since January 29, 2002[159](index=159&type=chunk) - As of August 12, 2025, there were approximately 110 holders of record and **38,656,442 shares** of common stock outstanding[7](index=7&type=chunk)[160](index=160&type=chunk) - The company has never declared or paid cash dividends and plans to retain earnings for business growth, debt payments, or share repurchases[161](index=161&type=chunk) Common Stock Repurchases (Fiscal Year 2025) | Period | Total Number of Shares Purchased | Average Price Paid Per Share | Approximate Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs (1) | |:---|:---|:---|:---| | March 30, 2025 - April 26, 2025 | 319,783 | $49.91 | $765,642,720 | | April 27, 2025 - May 24, 2025 | — | — | $765,642,720 | | May 25, 2025 - June 28, 2025 | — | — | $765,642,720 | | **Total** | **319,783** | | | - On August 5, 2025, the Board of Directors authorized a new stock repurchase program of up to **$150.0 million**, with no expiration date[162](index=162&type=chunk)[163](index=163&type=chunk) [Market Information on Common Stock](index=28&type=section&id=Market%20Information%20on%20Common%20Stock) Provides details regarding the trading market for the company's common stock [Stockholders](index=28&type=section&id=Stockholders) Information concerning the number of stockholders and shares outstanding [Dividends](index=28&type=section&id=Dividends) Discusses the company's dividend policy and history [Issuer Purchases of Equity Securities](index=28&type=section&id=Issuer%20Purchases%20of%20Equity%20Securities) Details the company's programs for repurchasing its own equity securities [Share Performance Graph](index=29&type=section&id=Share%20Performance%20Graph) Presents a graphical comparison of the company's stock performance against relevant indices [ITEM 6. RESERVED](index=29&type=section&id=ITEM%206.%20RESERVED) This item is reserved and contains no information - This item is reserved[171](index=171&type=chunk) [ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS](index=30&type=section&id=ITEM%207.%20MANAGEMENT%27S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) Synaptics achieved 12% revenue growth to $1,074.3 million in fiscal 2025, driven by Core IoT, but reported a $47.8 million net loss - Net revenue increased by **12.0%** to **$1,074.3 million** in fiscal 2025 from **$959.4 million** in fiscal 2024[175](index=175&type=chunk)[181](index=181&type=chunk) - Core IoT net revenue grew by **53%** to **$272.4 million**, driven by wireless connectivity products and the Broadcom transaction[175](index=175&type=chunk) - The company reported a net loss of **$47.8 million** in fiscal 2025, compared to a net income of **$125.6 million** in fiscal 2024[180](index=180&type=chunk) - Cash and cash equivalents decreased by **$485.4 million** to **$391.5 million** at the end of fiscal 2025, primarily due to debt repayment, share repurchases, and the Broadcom asset acquisition[177](index=177&type=chunk)[190](index=190&type=chunk) [Forward-Looking Statements and Factors That May Affect Results](index=30&type=section&id=Forward-Looking%20Statements%20and%20Factors%20That%20May%20Affect%20Results) Provides cautionary statements regarding future-oriented information and potential influencing factors [Introduction](index=30&type=section&id=Introduction) Introduces the management's discussion and analysis of financial performance [Overview](index=30&type=section&id=Overview) Presents a high-level summary of the company's financial condition and operational results [Trends and Uncertainties](index=31&type=section&id=Trends%20and%20Uncertainties) Discusses significant trends and uncertainties impacting the company's business [Current Economic Conditions](index=31&type=section&id=Current%20Economic%20Conditions) Analyzes the impact of prevailing economic conditions on the company's operations [Results of Operations](index=31&type=section&id=Results%20of%20Operations) Detailed analysis of the company's financial performance over the reporting period [Net Revenue](index=31&type=section&id=Net%20Revenue) Examines the company's revenue streams and their contributing factors Net Revenue by Product Application (in millions) | Product Application | 2025 | % of net sales (2025) | 2024 | % of net sales (2024) | |:---|:---|:---|:---|:---| | Enterprise and Automotive | $610.1 | 56.8% | $570.0 | 59.4% | | Core IoT | $272.4 | 25.4% | $177.6 | 18.5% | | Mobile | $191.8 | 17.8% | $211.8 | 22.1% | | **Total Net Revenue** | **$1,074.3** | **100.0%** | **$959.4** | **100.0%** | - Net revenue increased by **$114.9 million (12.0%)** from fiscal 2024 to fiscal 2025[181](index=181&type=chunk) - Core IoT revenue increased by **53%** due to higher units sold (**40.8%**) and increased average selling prices (**8.9%**), including contributions from the Broadcom transaction[175](index=175&type=chunk)[182](index=182&type=chunk) - Mobile net revenue decreased by **9%** due to a decrease in units sold (**1.8%**) and average selling prices (**10.3%**), primarily from end-of-life shipments to a large U.S. mobile customer[175](index=175&type=chunk)[182](index=182&type=chunk) [Gross Margin](index=32&type=section&id=Gross%20Margin) Analyzes the company's gross profit as a percentage of net revenue - Gross margin as a percentage of net revenue decreased to **44.7%** in fiscal 2025 from **45.8%** in fiscal 2024[180](index=180&type=chunk)[183](index=183&type=chunk) - The decrease was driven by increased amortization expense from Broadcom intangible assets and a decrease in IP licensing revenue[183](index=183&type=chunk) [Operating Expenses](index=32&type=section&id=Operating%20Expenses) Details the various costs incurred in the company's operations Operating Expenses (in millions) | Operating Expense Category | 2025 | % of net sales (2025) | 2024 | % of net sales (2024) | |:---|:---|:---|:---|:---|\ | Research and development | $346.8 | 32.3% | $336.3 | 35.1% | | Selling, general and administrative | $180.3 | 16.8% | $161.3 | 16.8% | | Acquired intangibles amortization | $16.7 | 1.5% | $17.3 | 1.8% | | Intangible asset impairment charge | $13.8 | 1.3% | $16.0 | 1.7% | | Restructuring costs | $16.9 | 1.6% | $10.5 | 1.1% | | **Total Operating Expenses** | **$574.5** | **53.5%** | **$541.4** | **56.5%** | [Research and Development Expenses](index=32&type=section&id=Research%20and%20Development%20Expenses) Focuses on expenditures related to innovation and product development [Selling, General and Administrative Expenses](index=32&type=section&id=Selling%2C%20General%20and%20Administrative%20Expenses) Covers costs associated with sales, marketing, and general corporate administration [Acquired Intangibles Amortization](index=32&type=section&id=Acquired%20Intangibles%20Amortization) Discusses the amortization expense related to intangible assets obtained through acquisitions [Intangible asset impairment charge](index=32&type=section&id=Intangible%20asset%20impairment%20charge) Reports charges incurred due to the impairment of intangible assets [Restructuring Costs](index=32&type=section&id=Restructuring%20Costs) Details expenses associated with corporate restructuring activities [Non-Operating Income](index=32&type=section&id=Non-Operating%20Income) Covers income and expenses not directly related to core business operations Non-Operating Income/Expense (in millions) | Item | 2025 | 2024 | |:---|:---|:---|\ | Interest and other income | $26.9 | $42.3 | | Interest expense | $(39.8) | $(65.3) | | Loss on early retirement of debt | $(6.5) | — | [Interest and Other Income](index=32&type=section&id=Interest%20and%20Other%20Income) Reports income generated from interest and other non-operating sources [Interest Expense](index=32&type=section&id=Interest%20Expense) Details the costs incurred from the company's debt obligations [(Benefit)/Provision for Income Taxes](index=33&type=section&id=(Benefit)%2FProvision%20for%20Income%20Taxes) Analyzes the company's income tax expenses or benefits - The company recorded an income tax benefit of **$(65.7) million** in fiscal 2025, compared to **$(250.2) million** in fiscal 2024[180](index=180&type=chunk)[189](index=189&type=chunk) - The fiscal 2025 tax benefit was primarily due to a one-time tax benefit from a U.S. 'check-the-box' election for its Israel subsidiary, favorable tax effects from foreign income inclusion, and a tax benefit from the fiscal 2018 U.S. transition tax[189](index=189&type=chunk) [Liquidity and Capital Resources](index=33&type=section&id=Liquidity%20and%20Capital%20Resources) Examines the company's ability to generate and manage cash, and its capital structure [Cash Flows from Operating Activities](index=33&type=section&id=Cash%20Flows%20from%20Operating%20Activities) Details cash generated or used by the company's primary business operations - Net cash provided by operating activities was **$142.0 million** in fiscal 2025, an increase from **$135.9 million** in fiscal 2024[192](index=192&type=chunk)[249](index=249&type=chunk) - This was driven by results of operations adjusted for non-cash charges (**$219.0 million**), partially offset by net cash outflows from changes in operating assets and liabilities (**$29.2 million**)[192](index=192&type=chunk) [Cash Flows from Investing Activities](index=33&type=section&id=Cash%20Flows%20from%20Investing%20Activities) Reports cash used for or generated from investment-related transactions - Net cash used in investing activities increased to **$297.9 million** in fiscal 2025 from **$157.7 million** in fiscal 2024[193](index=193&type=chunk)[249](index=249&type=chunk) - The primary uses of cash were **$200.3 million** for the Broadcom Wi-Fi technology acquisition and **$61.0 million** for short-term investments[193](index=193&type=chunk) [Cash Flows from Financing Activities](index=33&type=section&id=Cash%20Flows%20from%20Financing%20Activities) Covers cash flows related to debt, equity, and dividend transactions - Net cash used in financing activities was **$331.4 million** in fiscal 2025, a significant increase from **$25.1 million** in fiscal 2024[194](index=194&type=chunk)[249](index=249&type=chunk) - Key outflows included **$583.5 million** for Term Loan Facility repayment, **$128.3 million** for common stock repurchases, and **$49.9 million** for capped call transactions, partially offset by **$439.5 million** from 2031 Notes issuance[194](index=194&type=chunk) [Liquidity](index=33&type=section&id=Liquidity) Assesses the company's short-term financial health and ability to meet obligations [Contractual Obligations and Commercial Commitments](index=34&type=section&id=Contractual%20Obligations%20and%20Commercial%20Commitments) Outlines the company's future payment obligations and commitments [Working Capital Needs](index=34&type=section&id=Working%20Capital%20Needs) Discusses the company's requirements for managing current assets and liabilities [Critical Accounting Estimates](index=34&type=section&id=Critical%20Accounting%20Estimates) Highlights key accounting policies requiring significant judgment and estimation [Revenue recognition](index=34&type=section&id=Revenue%20recognition) Details the methods and assumptions used for recognizing revenue [Inventory Valuation](index=35&type=section&id=Inventory%20Valuation) Explains the accounting policies for valuing and managing inventory [Business Combinations](index=35&type=section&id=Business%20Combinations) Describes the accounting treatment for mergers and acquisitions [Income Taxes](index=35&type=section&id=Income%20Taxes) Outlines the accounting policies and estimates related to income taxes [Recent Accounting Pronouncements](index=36&type=section&id=Recent%20Accounting%20Pronouncements) Discusses newly issued accounting standards and their potential impact [ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK](index=37&type=section&id=ITEM%207A.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) Synaptics faces foreign currency and interest rate risks, with potential $20.0 million impact from currency changes and $2.0 million from interest rate shifts - Approximately **17%** of total costs in fiscal 2025 and 2024 were denominated in foreign currencies[213](index=213&type=chunk) - A hypothetical **10%** adverse change in currency exchange rates would impact operating income before taxes and net income by approximately **$20.0 million** for fiscal 2025[215](index=215&type=chunk) - A hypothetical **50 basis point** increase or decrease in interest rates on cash, cash equivalents, and short-term investments would result in a corresponding increase or decrease in interest income of approximately **$2.0 million**[217](index=217&type=chunk) - All outstanding long-term debt had fixed interest rates as of June 2025, minimizing exposure to interest rate changes on reported interest expense[218](index=218&type=chunk) [Foreign Currency Exchange Risk](index=37&type=section&id=Foreign%20Currency%20Exchange%20Risk) Analyzes the company's exposure to fluctuations in foreign exchange rates [Interest Rate Risk on Cash and Cash Equivalents](index=37&type=section&id=Interest%20Rate%20Risk%20on%20Cash%20and%20Cash%20Equivalents) Examines the impact of interest rate changes on the company's liquid assets [Interest Rate Risk on Debt](index=37&type=section&id=Interest%20Rate%20Risk%20on%20Debt) Assesses the potential effects of interest rate changes on the company's debt obligations [ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA](index=38&type=section&id=ITEM%208.%20FINANCIAL%20STATEMENTS%20AND%20SUPPLEMENTARY%20DATA) This section presents Synaptics' audited consolidated financial statements for fiscal years 2025, 2024, and 2023, including balance sheets, statements of operations, and cash flows - KPMG LLP provided an unqualified opinion on the consolidated financial statements and the effectiveness of internal control over financial reporting as of June 28, 2025[223](index=223&type=chunk)[224](index=224&type=chunk) Consolidated Balance Sheet Highlights (in millions) | Item | June 28, 2025 | June 29, 2024 | |:---|:---|:---|\ | Total current assets | $751.9 | $1,162.3 | | Total assets | $2,584.4 | $2,825.0 | | Total current liabilities | $270.9 | $277.2 | | Total liabilities | $1,189.5 | $1,358.2 | | Total stockholders' equity | $1,394.9 | $1,466.8 | Consolidated Statements of Operations Highlights (in millions, except per share) | Item | Fiscal Year 2025 | Fiscal Year 2024 | Fiscal Year 2023 | |:---|:---|:---|:---|\ | Net revenue | $1,074.3 | $959.4 | $1,355.1 | | Gross margin | $480.4 | $439.8 | $715.9 | | Operating (loss)/income | $(94.1) | $(101.6) | $154.3 | | Net (loss)/income | $(47.8) | $125.6 | $73.6 | | Basic Net (loss)/income per share | $(1.22) | $3.20 | $1.86 | | Diluted Net (loss)/income per share | $(1.22) | $3.16 | $1.83 | [Report of Independent Registered Public Accounting Firm](index=39&type=section&id=Report%20of%20Independent%20Registered%20Public%20Accounting%20Firm) Contains the auditor's opinion on the financial statements and internal controls [Consolidated Balance Sheets](index=42&type=section&id=Consolidated%20Balance%20Sheets) Presents a snapshot of the company's assets, liabilities, and equity at specific points in time [Consolidated Statements of Operations](index=43&type=section&id=Consolidated%20Statements%20of%20Operations) Reports the company's revenues, expenses, and net income or loss over a period [Consolidated Statements of Comprehensive Income](index=44&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income) Details changes in equity from non-owner sources, including net income and other comprehensive income [Consolidated Statements of Stockholders' Equity](index=45&type=section&id=Consolidated%20Statements%20of%20Stockholders%27%20Equity) Shows changes in the equity section of the balance sheet over a period [Consolidated Statements of Cash Flows](index=46&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Summarizes the cash inflows and outflows from operating, investing, and financing activities [Notes to Consolidated Financial Statements](index=48&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Provides detailed explanations and additional information supporting the financial statements [Note 1. Description of Business](index=48&type=section&id=Note%201.%20Description%20of%20Business) Provides an overview of the company's operations, products, and services [Note 2. Basis of Presentation and Significant Accounting Policies](index=48&type=section&id=Note%202.%20Basis%20of%20Presentation%20and%20Significant%20Accounting%20Policies) Outlines the fundamental principles and specific accounting methods used in preparing the financial statements [Basis of Presentation and Principles of Consolidation](index=48&type=section&id=Basis%20of%20Presentation%20and%20Principles%20of%20Consolidation) Explains how the financial statements are prepared and which entities are included [Use of Estimates](index=48&type=section&id=Use%20of%20Estimates) Discusses the role of management's judgments and assumptions in financial reporting [Cash Equivalents](index=48&type=section&id=Cash%20Equivalents) Defines what constitutes cash equivalents for financial reporting purposes [Short-Term Investments](index=48&type=section&id=Short-Term%20Investments) Describes the company's policies for classifying and valuing short-term investments [Fair Value Measurements](index=48&type=section&id=Fair%20Value%20Measurements) Explains the methodologies used to determine the fair value of financial instruments [Revenue Recognition](index=49&type=section&id=Revenue%20Recognition) Details the criteria and timing for recognizing revenue from contracts with customers [Products](index=49&type=section&id=Products) Provides specific accounting policies related to the company's product sales [Intellectual property licensing arrangements](index=49&type=section&id=Intellectual%20property%20licensing%20arrangements) Outlines the accounting treatment for revenue generated from intellectual property licenses [Advertising Costs](index=49&type=section&id=Advertising%20Costs) Describes the company's policy for expensing or capitalizing advertising expenditures [Allowance for Credit Losses](index=49&type=section&id=Allowance%20for%20Credit%20Losses) Explains the methodology for estimating and recording potential uncollectible accounts receivable [Cost of Revenue](index=49&type=section&id=Cost%20of%20Revenue) Details the components included in the cost of goods sold or services rendered [Inventories](index=50&type=section&id=Inventories) Describes the accounting policies for valuing and managing inventory assets [Property and Equipment](index=50&type=section&id=Property%20and%20Equipment) Outlines the accounting treatment for fixed assets, including depreciation policies [Foreign Currency](index=50&type=section&id=Foreign%20Currency) Explains the accounting for transactions and financial statements denominated in foreign currencies [Goodwill](index=50&type=section&id=Goodwill) Details the accounting policies for goodwill, including impairment testing [Intangible Assets](index=50&type=section&id=Intangible%20Assets) Describes the accounting for identifiable intangible assets, including amortization [Impairment of Long-Lived Assets](index=50&type=section&id=Impairment%20of%20Long-Lived%20Assets) Explains the procedures for testing and recognizing impairment losses on long-lived assets [Leases](index=51&type=section&id=Leases) Details the accounting policies for lease arrangements, including right-of-use assets and lease liabilities [Share-Based Compensation](index=51&type=section&id=Share-Based%20Compensation) Describes the accounting for equity-settled and cash-settled share-based payment transactions [Income Taxes](index=51&type=section&id=Income%20Taxes) Outlines the accounting for current and deferred income taxes [Product Warranty](index=51&type=section&id=Product%20Warranty) Explains the accounting for estimated costs associated with product warranties [Acquisitions](index=52&type=section&id=Acquisitions) Details the accounting policies applied to business combinations and asset acquisitions [Research and Development](index=52&type=section&id=Research%20and%20Development) Describes the accounting treatment for research and development expenditures [Accounting Pronouncements Adopted](index=52&type=section&id=Accounting%20Pronouncements%20Adopted) Lists and explains recently adopted accounting standards [Accounting Pronouncements Issued But Not Yet Adopted](index=52&type=section&id=Accounting%20Pronouncements%20Issued%20But%20Not%20Yet%20Adopted) Identifies new accounting standards that have been issued but not yet implemented [Note 3. Supplemental Financial Statement Information](index=52&type=section&id=Note%203.%20Supplemental%20Financial%20Statement%20Information) Provides additional details and breakdowns for various financial statement line items [Inventories](index=52&type=section&id=Inventories) Presents a detailed breakdown of inventory components [Property and equipment](index=53&type=section&id=Property%20and%20equipment) Provides a detailed schedule of property and equipment, including accumulated depreciation [Non-current other assets](index=53&type=section&id=Non-current%20other%20assets) Details the composition of other non-current assets [Accrued liabilities](index=53&type=section&id=Accrued%20liabilities) Provides a breakdown of accrued liabilities on the balance sheet [Note 4. Business Combinations and Asset Acquisitions](index=53&type=section&id=Note%204.%20Business%20Combinations%20and%20Asset%20Acquisitions) Details the financial impact and accounting for recent acquisitions [Fiscal Year 2025 Acquisition](index=53&type=section&id=Fiscal%20Year%202025%20Acquisition) Provides specific information regarding acquisitions completed in fiscal year 2025 [Fiscal Year 2024 Asset Acquisition](index=55&type=section&id=Fiscal%20Year%202024%20Asset%20Acquisition) Details asset acquisitions undertaken during fiscal year 2024 [Note 5. Cash, Cash Equivalents and Short-Term Investments](index=55&type=section&id=Note%205.%20Cash%2C%20Cash%20Equivalents%20and%20Short-Term%20Investments) Provides a breakdown and reconciliation of cash, cash equivalents, and short-term investments [Note 6. Fair Value Measurements](index=56&type=section&id=Note%206.%20Fair%20Value%20Measurements) Details the fair value hierarchy and valuation techniques used for financial instruments [Financial Instruments Not Recorded at Fair Value on a Recurring Basis](index=56&type=section&id=Financial%20Instruments%20Not%20Recorded%20at%20Fair%20Value%20on%20a%20Recurring%20Basis) Discusses financial instruments that are not regularly revalued at fair value [Note 7. Goodwill and Acquired Intangible Assets](index=57&type=section&id=Note%207.%20Goodwill%20and%20Acquired%20Intangible%20Assets) Provides detailed information on goodwill and other intangible assets, including changes and impairment [Impairment of indefinite-lived intangible assets](index=58&type=section&id=Impairment%20of%20indefinite-lived%20intangible%20assets) Details any impairment charges recognized for indefinite-lived intangible assets [Note 8. Debt and Revolving Credit Facility](index=58&type=section&id=Note%208.%20Debt%20and%20Revolving%20Credit%20Facility) Provides comprehensive information on the company's debt instruments and credit facilities [2031 Convertible Senior Notes](index=58&type=section&id=2031%20Convertible%20Senior%20Notes) Details the terms and accounting for the company's convertible senior notes due in 2031 [2031 Capped Calls](index=59&type=section&id=2031%20Capped%20Calls) Explains the capped call transactions related to the 2031 convertible senior notes [Senior Notes](index=60&type=section&id=Senior%20Notes) Provides information on other senior unsecured notes issued by the company [Term Loan Facility](index=60&type=section&id=Term%20Loan%20Facility) Details the terms and outstanding balances of the company's term loan facility [Revolving Credit Facility](index=60&type=section&id=Revolving%20Credit%20Facility) Describes the company's revolving credit line, including availability and usage [Maturities](index=61&type=section&id=Maturities) Presents a schedule of future principal payments for the company's debt obligations [Note 9. Leases](index=61&type=section&id=Note%209.%20Leases) Provides detailed disclosures regarding the company's lease arrangements [Note 10. Concentrations of Credit Risk and Significant Customers](index=62&type=section&id=Note%2010.%20Concentrations%20of%20Credit%20Risk%20and%20Significant%20Customers) Discusses potential risks arising from customer concentration and credit exposures [Note 11. Net Income Per Share](index=62&type=section&id=Note%2011.%20Net%20Income%20Per%20Share) Details the calculation of basic and diluted net income per share [Note 12. Commitments and Contingencies](index=63&type=section&id=Note%2012.%20Commitments%20and%20Contingencies) Outlines the company's various contractual commitments and potential contingent liabilities [Commitments](index=63&type=section&id=Commitments) Details the company's contractual obligations and future expenditures [Indemnifications](index=63&type=section&id=Indemnifications) Describes the company's indemnification agreements and related potential liabilities [Environmental Matters](index=63&type=section&id=Environmental%20Matters) Discusses environmental regulations and any related liabilities or compliance costs [Legal Proceedings](index=63&type=section&id=Legal%20Proceedings) Provides information on ongoing legal disputes and their potential financial impact [Note 13. Stockholders' Equity](index=64&type=section&id=Note%2013.%20Stockholders%27%20Equity) Details the components of stockholders' equity, including capital stock and retained earnings [Preferred Stock](index=64&type=section&id=Preferred%20Stock) Describes the company's authorized and outstanding preferred stock [Shares Reserved for Future Issuance](index=64&type=section&id=Shares%20Reserved%20for%20Future%20Issuance) Indicates the number of shares held for future issuance under various plans [Common Stock Repurchase Program](index=64&type=section&id=Common%20Stock%20Repurchase%20Program) Details the company's program for buying back its own common stock [Note 14. Share-Based Compensation](index=64&type=section&id=Note%2014.%20Share-Based%20Compensation) Provides comprehensive information on the company's equity compensation plans and expenses [Share-Based Compensation Plans](index=64&type=section&id=Share-Based%20Compensation%20Plans) Describes the various plans under which share-based awards are granted [Restricted Stock Units](index=65&type=section&id=Restricted%20Stock%20Units) Details the accounting and terms for restricted stock unit awards [Market Stock Units](index=65&type=section&id=Market%20Stock%20Units) Explains the accounting and terms for market stock unit awards [Performance Stock Units](index=66&type=section&id=Performance%20Stock%20Units) Describes the accounting and terms for performance stock unit awards [Employee Stock Purchase Plan](index=66&type=section&id=Employee%20Stock%20Purchase%20Plan) Details the company's employee stock purchase program [Stock-Based Compensation Expense](index=67&type=section&id=Stock-Based%20Compensation%20Expense) Reports the total expense recognized for share-based compensation [Note 15. Employee Benefit Plans](index=67&type=section&id=Note%2015.%20Employee%20Benefit%20Plans) Provides information on the company's various employee retirement and welfare benefit plans [Note 16. Income Taxes](index=67&type=section&id=Note%2016.%20Income%20Taxes) Offers detailed disclosures regarding the company's income tax assets, liabilities, and expenses [Note 17. Revenue](index=70&type=section&id=Note%2017.%20Revenue) Provides further breakdown and analysis of the company's revenue streams [Disaggregation of revenue](index=71&type=section&id=Disaggregation%20of%20revenue) Presents revenue broken down by various categories, such as product type or geography [Contract Liabilities](index=71&type=section&id=Contract%20Liabilities) Details the company's obligations to transfer goods or services to customers for which it has received consideration [Note 18. Segment and Other Information](index=71&type=section&id=Note%2018.%20Segment%20and%20Other%20Information) Provides financial data segmented by business operations and geographical regions [Segment reporting](index=71&type=section&id=Segment%20reporting) Details financial information for the company's operating segments [Other Geographical information](index=73&type=section&id=Other%20Geographical%20information) Presents financial data broken down by different geographic areas [Note 19. Restructuring Activities](index=73&type=section&id=Note%2019.%20Restructuring%20Activities) Details the costs and liabilities associated with the company's restructuring plans [Fiscal 2025 Restructuring Plan](index=73&type=section&id=Fiscal%202025%20Restructuring%20Plan) Provides specific information on restructuring activities undertaken in fiscal year 2025 [Fiscal 2024 Restructuring Plan](index=73&type=section&id=Fiscal%202024%20Restructuring%20Plan) Details restructuring activities and associated costs from fiscal year 2024 PART III [ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE](index=78&type=section&id=ITEM%2010.%20DIRECTORS%2C%20EXECUTIVE%20OFFICERS%20AND%20CORPORATE%20GOVERNANCE) Information on directors, executive officers, and corporate governance is incorporated by reference from the 2025 Proxy Statement - Information on directors and corporate governance is incorporated by reference from the 2025 Proxy Statement[418](index=418&type=chunk) - Information on executive officers is included in Part I – Item 1 of this Annual Report[418](index=418&type=chunk) - The company has a 'Code of Ethics for the CEO and Senior Financial Officers' available on its website[418](index=418&type=chunk) [ITEM 11. EXECUTIVE COMPENSATION](index=78&type=section&id=ITEM%2011.%20EXECUTIVE%20COMPENSATION) Information on executive compensation is incorporated by reference from the 2025 Proxy Statement - Information on executive compensation is incorporated by reference from the 2025 Proxy Statement[420](index=420&type=chunk) [ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS](index=78&type=section&id=ITEM%2012.%20SECURITY%20OWNERSHIP%20OF%20CERTAIN%20BENEFICIAL%20OWNERS%20AND%20MANAGEMENT%20AND%20RELATED%20STOCKHOLDER%20MATTERS) Information on security ownership and related stockholder matters is incorporated by reference from the 2025 Proxy Statement - Information on security ownership and related stockholder matters is incorporated by reference from the 2025 Proxy Statement[421](index=421&type=chunk) [ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE](index=78&type=section&id=ITEM%2013.%20CERTAIN%20RELATIONSHIPS%20AND%20RELATED%20TRANSACTIONS%20AND%20DIRECTOR%20INDEPENDENCE) Information on certain relationships, related transactions, and director independence is incorporated by reference from the 2025 Proxy Statement - Information on certain relationships, related transactions, and director independence is incorporated by reference from the 2025 Proxy Statement[422](index=422&type=chunk) [ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES](index=78&type=section&id=ITEM%2014.%20PRINCIPAL%20ACCOUNTANT%20FEES%20AND%20SERVICES) Information on principal accountant fees and services is incorporated by reference from the 2025 Proxy Statement - Information on principal accountant fees and services is incorporated by reference from the 2025 Proxy Statement[423](index=423&type=chunk) PART IV [ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES](index=79&type=section&id=ITEM%2015.%20EXHIBITS%20AND%20FINANCIAL%20STATEMENT%20SCHEDULES) This section lists consolidated financial statements, confirms omission of schedules, and provides a comprehensive list of exhibits - The consolidated financial statements are filed as part of this Form 10-K[426](index=426&type=chunk) - All financial statement schedules have been omitted as the information is not required, not applicable, or included in the Consolidated Financial Statements[427](index=427&type=chunk) - A detailed list of exhibits, including corporate governance documents, debt instruments, equity compensation plans, and executive agreements, is provided[428](index=428&type=chunk)[429](index=429&type=chunk)[430](index=430&type=chunk)[431](index=431&type=chunk)[434](index=434&type=chunk) [Consolidated Financial Statements](index=79&type=section&id=Consolidated%20Financial%20Statements) Confirms the inclusion of the company's consolidated financial statements within the report [Financial Statement Schedules](index=79&type=section&id=Financial%20Statement%20Schedules) States that financial statement schedules are omitted as they are not required or are presented elsewhere [Exhibits](index=79&type=section&id=Exhibits) Provides a comprehensive list of all exhibits filed with the annual report [ITEM 16. FORM 10-K SUMMARY](index=83&type=section&id=ITEM%2016.%20FORM%2010-K%20SUMMARY) This section indicates that a Form 10-K summary is not applicable - Not applicable[433](index=433&type=chunk) [SIGNATURES](index=84&type=section&id=SIGNATURES) This section contains the required signatures for the Form 10-K from executive officers and Board members, all dated August 21, 2025 - The report is signed by the President and Chief Executive Officer, Chief Financial Officer, Corporate Controller, and members of the Board of Directors[438](index=438&type=chunk)[439](index=439&type=chunk) - All signatures are dated August 21, 2025[438](index=438&type=chunk)[439](index=439&type=chunk)

Synaptics (SYNA) Conference Summary Company Overview - **Company**: Synaptics - **Industry**: Semiconductor, specifically focusing on Internet of Things (IoT) and Edge AI technologies - **Key Personnel**: Rahul Patel (CEO), Ken Rizvi (CFO) Core Industry Insights - **Core IoT Focus**: Synaptics is positioning itself as a significant player in the core IoT space, leveraging its 40 years of experience and successful reinventions in the semiconductor industry [4][5] - **Wireless Connectivity**: The company has a strong wireless connectivity portfolio through licensing arrangements with Broadcom, focusing on high-performance, low-power solutions essential for core IoT applications [7] - **Edge AI Integration**: Synaptics is embedding edge AI capabilities into its processors, developed in collaboration with Google Research, which enhances the performance and efficiency of AI models on its platform [11][12] Financial Performance - **Growth Metrics**: - Overall business growth of 12% year-over-year for fiscal year 2025, with core IoT business growing over 50% year-over-year [18][19] - Earnings per share (EPS) grew by 61% in the same period, indicating strong profitability alongside revenue growth [24] - **Market Dynamics**: Channel inventories have returned to pre-COVID levels, suggesting a healthy demand environment moving forward [20][21] Product Development and Market Applications - **Processor Innovations**: The Astra processor is gaining traction in various applications, including video processing and audio systems, with significant design wins expected to drive future growth [13][14] - **Market Opportunities**: Anticipated growth in the PC market due to a refresh cycle, with approximately 400 million PCs needing upgrades, which could benefit Synaptics' market share [29][32] Competitive Landscape - **Differentiation from Competitors**: Synaptics does not compete directly with larger companies like Qualcomm and MediaTek, focusing instead on a different class of products that cater to edge applications, where 90% of applications could benefit from Synaptics' offerings [16] Strategic Direction - **M&A Philosophy**: The company is open to strategic acquisitions that can accelerate growth in core IoT, aiming to build comprehensive solutions rather than just selling individual components [35][38] - **Long-term Margin Goals**: Synaptics aims to maintain a long-term gross margin target of 57%, driven by product mix and the introduction of integrated solutions [39][40] Additional Considerations - **Automotive and Enterprise Markets**: The automotive market remains sluggish, while the enterprise market is recovering, with potential cyclical benefits from a PC refresh cycle and return-to-office trends [28][30] - **Foldable Technology Potential**: The anticipated launch of foldable smartphones could create new opportunities for Synaptics in the mobile touch market, potentially translating to significant unit sales [33] This summary encapsulates the key points discussed during the Synaptics conference, highlighting the company's strategic focus, financial performance, product innovations, and market dynamics.

Company Performance - Synaptics reported quarterly earnings of $1.01 per share, exceeding the Zacks Consensus Estimate of $1 per share, and up from $0.64 per share a year ago, representing an earnings surprise of +1.00% [1] - The company posted revenues of $282.8 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 1.00%, and an increase from $247.4 million year-over-year [2] - Over the last four quarters, Synaptics has consistently surpassed consensus EPS and revenue estimates [2] Future Outlook - The sustainability of Synaptics' stock price movement will depend on management's commentary during the earnings call and future earnings expectations [3][4] - The current consensus EPS estimate for the upcoming quarter is $1.06 on revenues of $286.65 million, and for the current fiscal year, it is $4.31 on revenues of $1.15 billion [7] - The estimate revisions trend for Synaptics was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] Industry Context - The Electronics - Semiconductors industry, to which Synaptics belongs, is currently ranked in the bottom 31% of over 250 Zacks industries, which may impact stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that investors should monitor these revisions closely [5]

Financial Data and Key Metrics Changes - Revenue for fiscal year 2025 increased by 12% to $1,074 million, driven by strong performance in core IoT products, which grew 53% year over year [10][20] - For fiscal Q4, revenue was $282.8 million, up 14% year over year and slightly above the midpoint of guidance [10][21] - Non-GAAP gross margin for Q4 was 53.5%, in line with guidance, while non-GAAP EPS increased by 58% year over year to $1.01 [11][23] Business Line Data and Key Metrics Changes - Core IoT product sales increased by 55% year over year in Q4, accounting for 30% of total revenue [11][22] - Enterprise and automotive product revenues improved by 4% year over year but decreased by 3% sequentially, primarily due to softness in automotive demand [15][22] - Mobile touch product revenues increased by 8% sequentially, remaining roughly flat year over year [22] Market Data and Key Metrics Changes - The company is seeing strong traction in the Wi-Fi 7 solutions, with design opportunities across various customer segments including IoT, enterprise, and automotive applications [11][12] - Demand in the enterprise segment is recovering modestly, while automotive demand remains soft [15][20] Company Strategy and Development Direction - The company aims to expand its share in existing markets and explore new ones, focusing on core IoT growth and maintaining a disciplined execution strategy [9][10] - There is a strong emphasis on leveraging existing capabilities in analog mixed signal, multicore processors, and wireless connectivity to drive long-term value [8][9] - The company plans to evaluate its product portfolio and shape its roadmap for sustained success [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's positioning to gain market share during the Wi-Fi 7 technology transition and highlighted the potential of new edge AI processors [12][13] - The management acknowledged the uncertain macroeconomic environment but remains optimistic about revenue growth in core IoT, projecting a revenue midpoint of approximately $290 million for Q1 2026 [26][50] Other Important Information - The company reduced total gross debt by approximately $134 million or 14% during the fiscal year [21] - A new share repurchase program for up to $150 million was authorized, reflecting the board's confidence in the long-term strategy [24] Q&A Session Summary Question: How might the strategy change for Synaptics in the IoT market? - Management indicated excitement about the portfolio and plans to enhance the offering by integrating processors, wireless connectivity, and mixed signal capabilities [29][30] Question: Are there other building blocks needed to fill out the solution? - Management emphasized a disciplined approach to investments, focusing on organic growth while remaining open to inorganic opportunities if they align with growth in core IoT [33][34] Question: Have any low ROI investments been identified? - Management is reviewing all product categories and will provide clearer direction at the Analyst Day regarding focus areas and potential product pruning [39][40] Question: Can you elaborate on order activity and channel inventory levels? - Management noted improved order activity and healthy backlog levels, with lean channel inventories that are expected to replenish as demand trends improve [43][46] Question: How sustainable is the improvement in enterprise demand? - Management expressed confidence in the visibility of revenue trends for the upcoming quarters, although they noted typical seasonality patterns in March [50][62] Question: What is the outlook for margins? - Management indicated that improving the margin profile will depend on product mix and the introduction of new products, with long-term gross margins expected to improve [66][68]

Financial Performance - Q4 2025 revenue reached $282.8 million, a 14% year-over-year increase[5] - FY2025 revenue totaled $1.074 billion, reflecting a 12% year-over-year growth[5] - Core IoT revenue grew by 55% year-over-year in Q4 2025 and 53% year-over-year for FY2025[5, 7] - Non-GAAP gross margin for FY25 was 53.6%, and for Q4'25 it was 53.5%[7] - Non-GAAP diluted earnings per share for FY25 was $3.62, a 61% increase year-over-year[14] Segment Revenue (Q4'FY25) - Core IoT revenue was $84 million[11] - Enterprise & Auto revenue was $150 million[11] - Mobile revenue was $49 million[11] Q1'FY26 Guidance - Revenue is projected to be $290 million, plus or minus $10 million[30] - Core IoT is expected to contribute 32% to the revenue mix[30] - Enterprise & Auto is expected to contribute 53% to the revenue mix[30] - Mobile is expected to contribute 15% to the revenue mix[30]

[Fiscal 2025 Fourth Quarter and Full Year Results Overview](index=1&type=section&id=Fiscal%202025%20Fourth%20Quarter%20and%20Full%20Year%20Results%20Overview) Synaptics reported strong fiscal 2025 results, driven by Core IoT growth, with positive Q4 performance and strategic focus on Edge AI [Full Year Fiscal 2025 Financial Highlights](index=1&type=section&id=Full%20Year%20Fiscal%202025%20Financial%20Highlights) Synaptics reported a strong fiscal year 2025, with overall revenue growth driven significantly by its Core IoT products. Non-GAAP diluted EPS saw a substantial increase, and the company actively managed its capital through share repurchases and debt reduction Full Year Fiscal 2025 Financial Performance | Metric | FY2025 (GAAP) | FY2025 (Non-GAAP) | FY2024 (GAAP) | FY2024 (Non-GAAP) | YoY Change (Non-GAAP) | | :-------------------------------- | :------------ | :---------------- | :------------ | :---------------- | :-------------------- | | Net Revenue | $1.07 billion | N/A | $959.4 million | N/A | +12.0% | | Gross Margin | 44.7% | 53.6% | 45.8% | 53.0% | +0.6 pp | | Net Loss / Income | ($47.8 million) | $143.9 million | $125.6 million | $89.4 million | +61% (Net Income) | | Basic EPS | ($1.22) | N/A | $3.20 | N/A | N/A | | Diluted EPS | ($1.22) | $3.62 | $3.16 | $2.25 | +61% | | Core IoT Product Sales Growth | N/A | N/A | N/A | N/A | +53% | | Shares Repurchased | N/A | N/A | N/A | N/A | $128 million (1.8 million shares) | | Gross Debt Reduction | N/A | N/A | N/A | N/A | ~14% ($134 million) | [Fourth Quarter Fiscal 2025 Financial Highlights](index=1&type=section&id=Fourth%20Quarter%20Fiscal%202025%20Financial%20Highlights) In the fourth quarter of fiscal 2025, Synaptics reported net revenue of $282.8 million. The company achieved a non-GAAP net income of $39.5 million, or $1.01 per diluted share, demonstrating solid performance in its Core IoT segment Fourth Quarter Fiscal 2025 Financial Performance | Metric | Q4 FY2025 (GAAP) | Q4 FY2025 (Non-GAAP) | Q4 FY2024 (GAAP) | Q4 FY2024 (Non-GAAP) | | :-------------------------------- | :--------------- | :------------------- | :--------------- | :------------------- | | Net Revenue | $282.8 million | N/A | $247.4 million | N/A | | Gross Margin | 43.0% | 53.5% | 45.8% | 53.4% | | Net Loss / Income | ($4.7 million) | $39.5 million | $208.3 million | $25.6 million | | Basic EPS | ($0.12) | N/A | $5.27 | N/A | | Diluted EPS | ($0.12) | $1.01 | $5.22 | $0.64 | | Core IoT Product Sales Growth | N/A | N/A | N/A | N/A | +55% vs. last year | [CEO's Strategic Commentary](index=1&type=section&id=CEO's%20Strategic%20Commentary) CEO Rahul Patel expressed strong confidence in Synaptics' engineering talent, technology, and customer relationships, reaffirming the strategic focus on Core IoT, particularly Edge AI. He highlighted the 12% year-over-year revenue growth in fiscal 2025, primarily driven by a 53% increase in Core IoT products, and outlined priorities for sustainable long-term growth - CEO Rahul Patel is confident in the company's engineering talent, differentiated technology, and strong customer relationships, reinforcing the strategic focus on Core IoT and opportunities for shareholder value[5](index=5&type=chunk) - Fiscal 2025 revenue grew **12% year-over-year**, primarily fueled by a **53% year-over-year growth** in Core IoT products[5](index=5&type=chunk)[6](index=6&type=chunk) - Key priorities include accelerating Core IoT growth with an emphasis on Edge AI, delivering on the product roadmap, and maintaining operational discipline to position Synaptics for sustainable, long-term growth[5](index=5&type=chunk) [Business Outlook](index=2&type=section&id=Business%20Outlook) Synaptics provided positive Q1 fiscal 2026 guidance, reflecting improved market conditions and a strong financial position, supported by a new share repurchase program [First Quarter Fiscal 2026 Guidance](index=2&type=section&id=First%20Quarter%20Fiscal%202026%20Guidance) Synaptics provided guidance for the first quarter of fiscal 2026, anticipating approximately 13% year-over-year revenue growth at the midpoint. The outlook includes specific GAAP and Non-GAAP ranges for revenue, gross margin, operating expense, and earnings per share First Quarter Fiscal 2026 Guidance | Metric | GAAP Guidance | Non-GAAP Adjustment | Non-GAAP Guidance | | :-------------------------- | :---------------- | :------------------ | :------------------ | | Revenue | $290M ± $10M | N/A | N/A | | Gross Margin | 42.5% ± 2.0% | $32M ± $1M | 53.5% ± 1.0% | | Operating Expense | $147M ± $4M | $42M ± $2M | $105M ± $2M | | Earnings (loss) per share | ($0.54) ± $0.25 | $1.59 ± $0.10 | $1.05 ± $0.15 | - The company expects approximately **13% year-over-year revenue growth** at the mid-point of its Q1 FY2026 guidance range[7](index=7&type=chunk) - Non-GAAP gross margin excludes **$30.0 to $32.0 million** in acquisition and integration-related costs and **$1.0 million** in share-based compensation[8](index=8&type=chunk) - Non-GAAP operating expense excludes **$33.0 to $35.0 million** in share-based compensation, **$1.0 million** in restructuring costs, and **$6.0 to $8.0 million** in acquisition and integration-related costs[9](index=9&type=chunk) [CFO's Financial Position and Capital Allocation Commentary](index=2&type=section&id=CFO's%20Financial%20Position%20and%20Capital%20Allocation%20Commentary) CFO Ken Rizvi noted improvements in order activity, backlog, and channel inventory, which are reflected in the positive Q1 fiscal 2026 guidance. He emphasized the company's strong financial position, healthy balance sheet, and solid cash flows, further supported by the Board's approval of a new $150 million share repurchase program - Order activity, backlog, and channel inventory levels have improved, contributing to the positive Q1 fiscal 2026 guidance[7](index=7&type=chunk) - The company maintains a strong financial position, supported by a healthy balance sheet and solid cash flows[7](index=7&type=chunk) - The Board approved a new share repurchase program of up to **$150 million** of common stock, following the expiration of the previous authorization[7](index=7&type=chunk) [Capital Allocation Strategy](index=3&type=section&id=Capital%20Allocation%20Strategy) Synaptics' Board of Directors authorized a new $150 million share repurchase program, reflecting a commitment to returning value to shareholders [New Stock Repurchase Program](index=3&type=section&id=New%20Stock%20Repurchase%20Program) Synaptics' Board of Directors authorized a new share repurchase program of up to $150 million of common stock. This program has no expiration date and allows for repurchases through open market or privately negotiated transactions, with timing and amount dependent on various market and company-specific factors - The Board of Directors authorized a new share repurchase program of up to **$150 million** of the Company's common stock[11](index=11&type=chunk) - The program has no expiration date but will be periodically reviewed based on capital allocation priorities, market conditions, balance sheet, free cash flow, and alternative investment opportunities[11](index=11&type=chunk) - Repurchases may occur through open market or privately negotiated transactions, subject to market conditions, legal requirements, and other factors, and the company may use Rule 10b5-1 trading plans[12](index=12&type=chunk) [Company Information](index=3&type=section&id=Company%20Information) This section provides an overview of Synaptics' focus on AI at the Edge, details of the Q4 FY2025 earnings call, and investor relations contact information [About Synaptics Incorporated](index=3&type=section&id=About%20Synaptics%20Incorporated) Synaptics is a Nasdaq-listed company driving innovation in AI at the Edge, focusing on intelligent connected devices. They offer cutting-edge Synaptics Astra™ AI-Native embedded compute, Veros™ wireless connectivity, and multimodal sensing solutions to enhance digital experiences across various applications - Synaptics (Nasdaq: SYNA) is an innovator in AI at the Edge, bringing AI closer to end users and transforming engagement with intelligent connected devices[15](index=15&type=chunk) - The company provides Synaptics Astra™ AI-Native embedded compute, Veros™ wireless connectivity, and multimodal sensing solutions[15](index=15&type=chunk) - Their technology spans touch, display, biometrics, AI-enabled wireless connectivity, video, vision, audio, speech, and security processing[15](index=15&type=chunk) [Earnings Call Details](index=3&type=section&id=Earnings%20Call%20Details) Synaptics' fourth quarter fiscal 2025 teleconference and webcast was scheduled for August 7, 2025, at 2:00 p.m. PT (5:00 p.m. ET). Participants could pre-register online, and supplementary materials were made available on the company's investor relations website - The Q4 FY2025 earnings teleconference and webcast was scheduled for **August 7, 2025, at 2:00 p.m. PT (5:00 p.m. ET)**[13](index=13&type=chunk) - Speakers included Rahul Patel (President and CEO) and Ken Rizvi (CFO)[16](index=16&type=chunk) - Supplementary slides, prepared remarks, and a live/archived webcast were accessible via the 'Investor Relations' section of the company's website[14](index=14&type=chunk) [Investor Relations Contact](index=8&type=section&id=Investor%20Relations%20Contact) For investor inquiries, Munjal Shah, Head of Investor Relations, can be contacted via phone or email - Contact: Munjal Shah, Head of Investor Relations[33](index=33&type=chunk) - Phone: **+1-408-518-7639**, Email: **munjal.shah@synaptics.com**[33](index=33&type=chunk) [Non-GAAP Financial Measures](index=3&type=section&id=Non-GAAP%20Financial%20Measures) Synaptics utilizes Non-GAAP financial measures to provide a clearer view of core operating performance by excluding specific non-cash or non-recurring items [Purpose and Rationale for Non-GAAP Measures](index=3&type=section&id=Purpose%20and%20Rationale%20for%20Non-GAAP%20Measures) Synaptics uses Non-GAAP Net Income and its components (e.g., Gross Margin, Operating Expenses) as supplemental measures to evaluate business performance. These measures exclude specific items like share-based compensation and acquisition-related costs, which the company believes are not indicative of its core operating performance, to facilitate period-to-period comparisons and provide a clearer view of underlying business trends, despite their limitations compared to GAAP - Synaptics uses Non-GAAP Net Income, excluding share-based compensation, acquisition-related costs, and other non-cash or non-recurring items, as a supplemental measure of operating performance[16](index=16&type=chunk) - Non-GAAP measures facilitate operating performance comparisons by eliminating differences caused by the existence and timing of certain charges, which are not considered indicative of core operations[17](index=17&type=chunk) - Limitations include not reflecting actual expenses and potentially inflating net income/EPS compared to GAAP results; thus, they should not be considered in isolation or as a substitute for GAAP[17](index=17&type=chunk) [Specific Non-GAAP Adjustments](index=4&type=section&id=Specific%20Non-GAAP%20Adjustments) Synaptics makes several specific adjustments to GAAP figures to arrive at Non-GAAP results, each with a detailed rationale [Acquisition and Integration-Related Costs](index=4&type=section&id=Acquisition%20and%20Integration-Related%20Costs) These costs, including amortization of intangibles and legal fees, are excluded from Non-GAAP measures as they are not indicative of ongoing core business operations - These costs primarily include amortization of purchased intangibles, inventory fair value adjustments, transitory post-acquisition incentive programs, and legal/consulting costs directly associated with acquisitions[18](index=18&type=chunk)[20](index=20&type=chunk) - Excluded from Non-GAAP measures because they are not factored into ongoing business operating performance evaluation and can vary significantly based on acquisition terms and timing[18](index=18&type=chunk) [Share-Based Compensation](index=4&type=section&id=Share-Based%20Compensation) Share-based compensation, related to employee equity awards, is excluded from Non-GAAP results due to its variability and non-cash nature - Relates to employee equity award programs (stock options, deferred stock units, etc.) and is excluded due to its variability, dependence on market forces, and non-cash nature (for stock-settled awards)[19](index=19&type=chunk)[21](index=21&type=chunk) - Exclusion provides a basis to compare principal operating performance against peer companies without variability from different equity-linked awards and methodologies[21](index=21&type=chunk) [Intangible Asset Impairment Charge](index=5&type=section&id=Intangible%20Asset%20Impairment%20Charge) This non-cash charge, representing excess carrying value, is excluded from Non-GAAP measures to ensure consistent comparison of operating performance - Represents the excess carrying value of an indefinite-lived asset over its fair value; it is a non-cash charge[22](index=22&type=chunk) - Excluded from Non-GAAP measures to allow comparison of principal operating performance without the variability created by such charges[22](index=22&type=chunk) [Restructuring Costs](index=5&type=section&id=Restructuring%20Costs) Costs associated with restructuring, such as employee termination and asset disposal, are excluded from Non-GAAP results due to their non-recurring nature - Costs incurred to address cost structure inefficiencies of acquired or existing business operations, primarily employee termination, asset disposal, and office closure costs[23](index=23&type=chunk) - Excluded to provide a basis for comparing principal operating performance without the variability from these non-recurring or infrequent costs[23](index=23&type=chunk) [Site Remediation Accrual](index=5&type=section&id=Site%20Remediation%20Accrual) An update to estimated future costs for a site contamination project is excluded from Non-GAAP measures to remove associated variability - Represents an update to estimated future costs for a site contamination project from an acquisition[24](index=24&type=chunk) - Excluded from Non-GAAP measures to remove variability associated with this specific accrual[24](index=24&type=chunk) [Legal Settlement Accruals and Other](index=5&type=section&id=Legal%20Settlement%20Accruals%20and%20Other) Estimated costs for unusual legal claims and indemnification obligations are excluded from Non-GAAP results for consistent performance comparison - Estimated cost of settling unusual or infrequent legal claims and indemnification obligations[25](index=25&type=chunk) - Excluded from Non-GAAP measures to allow comparison of principal operating performance without variability from non-recurring or non-routine settlement accruals[25](index=25&type=chunk) [Loss on Early Extinguishment of Debt](index=5&type=section&id=Loss%20on%20Early%20Extinguishment%20of%20Debt) This non-cash item, representing the difference in debt carrying and fair value, is excluded from Non-GAAP results to remove variability - A non-cash item representing the difference between the carrying value and fair value of extinguished debt[26](index=26&type=chunk)[27](index=27&type=chunk) - Excluded from Non-GAAP results due to its non-cash nature and to remove associated variability[27](index=27&type=chunk) [Executive Transition and Other Costs](index=6&type=section&id=Executive%20Transition%20and%20Other%20Costs) Non-recurring expenses related to the CEO transition are excluded from Non-GAAP results to enhance comparability of core operating performance - Non-recurring expenses associated with the CEO transition in fiscal 2025, primarily a one-time sign-on bonus[28](index=28&type=chunk) - Excluded from Non-GAAP results as they are not indicative of core operating performance and enhance comparability by removing infrequent personnel-related costs[28](index=28&type=chunk) [Other Non-Cash Items](index=6&type=section&id=Other%20Non-Cash%20Items) Non-cash amortization of debt discount and issuance costs are excluded from Non-GAAP results due to their non-cash nature and to remove associated variability - Includes non-cash amortization of debt discount and issuance costs[29](index=29&type=chunk) - Excluded from Non-GAAP results due to their non-cash nature and to remove associated variability[29](index=29&type=chunk) [Non-GAAP Tax Adjustments](index=6&type=section&id=Non-GAAP%20Tax%20Adjustments) Forecasted long-term Non-GAAP tax rate adjustments improve modeling accuracy by eliminating effects of certain items in Non-GAAP net income/EPS - Forecasted long-term Non-GAAP tax rate aims to improve modeling accuracy and consistency by eliminating effects of certain items in Non-GAAP net income/EPS[30](index=30&type=chunk) - Adjustments account for share-based compensation, taxation of intercompany intellectual property transactions, and other acquisition-related tax impacts[30](index=30&type=chunk) - The long-term Non-GAAP tax rate is evaluated annually for significant events like tax law changes, corporate organizational changes, and shifts in geographic earnings mix[30](index=30&type=chunk) [Forward-Looking Statements and Risks](index=7&type=section&id=Forward-Looking%20Statements%20and%20Risks) This section cautions readers that forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially [Cautionary Statement Regarding Forward-Looking Statements](index=7&type=section&id=Cautionary%20Statement%20Regarding%20Forward-Looking%20Statements) This section contains forward-looking statements regarding Synaptics' financial condition, results, plans, and future performance, including Q1 fiscal 2026 guidance and growth in Core IoT and Edge AI. These statements are subject to known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially, such as global macroeconomic conditions, demand variability, supply chain disruptions, and the ability to execute strategies. The company disclaims any obligation to update these statements, except as required by law - The press release contains forward-looking statements regarding financial condition, results, plans, objectives, future performance, and business, including Q1 FY2026 guidance and growth in Core IoT and Edge AI[31](index=31&type=chunk) - These statements are based on current expectations and assumptions but are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially[31](index=31&type=chunk) - Key risks include global macroeconomic conditions (trade restrictions, tariffs, geopolitical tensions, inflation, interest rates), demand variability in target markets, customer concentration, supply chain risks, ability to execute strategies, and operational challenges related to CEO transition[31](index=31&type=chunk) [Condensed Consolidated Financial Statements](index=9&type=section&id=Condensed%20Consolidated%20Financial%20Statements) This section provides condensed consolidated financial statements, including balance sheets, income statements, GAAP to Non-GAAP reconciliations, and cash flow data [Condensed Consolidated Balance Sheets](index=9&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Synaptics' balance sheet as of June 2025 shows a decrease in total assets compared to June 2024, primarily driven by a significant reduction in cash and cash equivalents. Total liabilities also decreased, while stockholders' equity saw a slight decline Condensed Consolidated Balance Sheets (In millions) | Metric (In millions) | June 2025 | June 2024 | | :-------------------------------- | :-------- | :-------- | | **ASSETS** | | | | Cash and cash equivalents | $391.5 | $876.9 | | Total current assets | $751.9 | $1,162.3 | | Goodwill | $872.3 | $816.4 | | Total assets | $2,584.4 | $2,825.0 | | **LIABILITIES AND STOCKHOLDERS' EQUITY** | | | | Total current liabilities | $270.9 | $277.2 | | Long-term debt | $834.8 | $966.9 | | Total liabilities | $1,189.5 | $1,358.2 | | Total stockholders' equity | $1,394.9 | $1,466.8 | | Total liabilities and stockholders' equity | $2,584.4 | $2,825.0 | [Condensed Consolidated Statements of Income](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) For the full year fiscal 2025, Synaptics reported net revenue of $1,074.3 million, an increase from the prior year. The company recorded a GAAP net loss of $47.8 million, compared to a net income in the prior year, primarily influenced by operating expenses and a lower tax benefit Condensed Consolidated Statements of Income (In millions, except per share data) | Metric (In millions, except per share data) | Three Months Ended June 2025 | Three Months Ended June 2024 | Year Ended June 2025 | Year Ended June 2024 | | :------------------------------------------ | :--------------------------- | :--------------------------- | :------------------- | :------------------- | | Net revenue | $282.8 | $247.4 | $1,074.3 | $959.4 | | Gross margin | $121.5 | $113.4 | $480.4 | $439.8 | | Total operating expenses | $145.7 | $144.5 | $574.5 | $541.4 | | Operating loss | ($24.2) | ($31.1) | ($94.1) | ($101.6) | | Net (loss)/income | ($4.7) | $208.3 | ($47.8) | $125.6 | | Basic Net (loss)/income per share | ($0.12) | $5.27 | ($1.22) | $3.20 | | Diluted Net (loss)/income per share | ($0.12) | $5.22 | ($1.22) | $3.16 | [Reconciliation of GAAP to Non-GAAP Financial Measures](index=11&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Financial%20Measures) The reconciliation tables detail the adjustments made from GAAP to Non-GAAP financial measures for both the quarter and full fiscal year 2025 and 2024. Key adjustments include acquisition and integration-related costs, share-based compensation, restructuring costs, and non-GAAP tax adjustments, which significantly impact gross margin, operating income, and net income, resulting in higher Non-GAAP profitability Reconciliation of GAAP to Non-GAAP Financial Measures (In millions, except per share data) | Metric (In millions, except per share data) | Q4 FY2025 GAAP | Q4 FY2025 Non-GAAP | FY2025 GAAP | FY2025 Non-GAAP | | :------------------------------------------ | :------------- | :----------------- | :---------- | :-------------- | | Gross Margin | $121.5 | $151.2 | $480.4 | $576.2 | | Gross Margin - percentage of revenue | 43.0% | 53.5% | 44.7% | 53.6% | | Operating Loss / Income | ($24.2) | $46.7 | ($94.1) | $177.5 | | Net Loss / Income | ($4.7) | $39.5 | ($47.8) | $143.9 | | Diluted Net (loss)/income per share | ($0.12) | $1.01 | ($1.22) | $3.62 | | **Key Adjustments (FY2025):** | | | | | | Acquisition and integration related costs | N/A | $122.5 | N/A | N/A | | Share-based compensation | N/A | $112.8 | N/A | N/A | | Non-GAAP tax adjustments | N/A | ($89.1) | N/A | N/A | [Condensed Consolidated Cash Flows](index=13&type=section&id=Condensed%20Consolidated%20Cash%20Flows) For fiscal year 2025, Synaptics generated $142.0 million in net cash from operating activities, a slight increase from the prior year. However, significant cash was used in investing activities, primarily for business acquisitions, and in financing activities, largely due to debt repayment and common stock repurchases, resulting in a net decrease in cash and cash equivalents Condensed Consolidated Cash Flows (In millions) | Metric (In millions) | Year Ended 2025 | Year Ended 2024 | | :------------------------------------------ | :-------------- | :-------------- | | Net (loss)/income | ($47.8) | $125.6 | | Net cash provided by operating activities | $142.0 | $135.9 | | Net cash used in investing activities | ($297.9) | ($157.7) | | Net cash used by financing activities | ($331.4) | ($25.1) | | Net decrease in cash and cash equivalents | ($485.4) | ($47.8) | | Cash and cash equivalents, end of period | $391.5 | $876.9 | - Acquisition of business, net of cash and cash equivalents acquired, used **$201.1 million** in investing activities for FY2025[42](index=42&type=chunk) - Repurchases of common stock amounted to **$128.3 million** in FY2025[42](index=42&type=chunk) - Debt repayment totaled **$583.5 million** in FY2025[42](index=42&type=chunk)

Core Insights - Synaptics reported a 12% year-over-year revenue growth for fiscal 2025, primarily driven by a 53% increase in Core IoT product sales [3][5][4] - The Board of Directors approved a new share repurchase program of up to $150 million [11][6] Fiscal 2025 Financial Highlights - Net revenue for fiscal 2025 was $1.07 billion, with a GAAP gross margin of 44.7%, down from 45.8% in the prior year [4] - Non-GAAP gross margin improved to 53.6% from 53.0% year-over-year [4] - GAAP net loss for fiscal 2025 was $47.8 million, or a loss of $1.22 per basic share, while non-GAAP net income increased by 61% to $143.9 million, or $3.62 per diluted share [4][7] Q4 Fiscal 2025 Results - Q4 net revenue was $282.8 million, with a GAAP net loss of $4.7 million, or a loss of $0.12 per basic share [3][7] - Non-GAAP net income for Q4 was $39.5 million, or $1.01 per diluted share [3][7] Business Outlook - For Q1 fiscal 2026, the company anticipates approximately 13% year-over-year revenue growth, with continued strong order activity and improved backlog [6][7] - The company repurchased $128 million worth of shares and reduced gross debt by approximately 14% or $134 million [7][6] Share Repurchase Program - The new share repurchase program has no expiration date and will be reviewed periodically based on capital allocation priorities and market conditions [11][12]

Company Overview - Synaptics Incorporated (Nasdaq: SYNA) is focused on driving innovation in AI at the Edge, enhancing user engagement with intelligent connected devices across various environments [1] - The company offers advanced solutions including Synaptics Astra™ AI-Native embedded compute, Veros™ wireless connectivity, and multimodal sensing technologies [1] Upcoming Events - Synaptics will participate in the KeyBanc Capital Markets' Technology Leadership Forum on August 11, 2025, at 10:00 AM PT, with presentations by CEO Rahul Patel and CFO Ken Rizvi [1] Product and Technology Focus - Synaptics is committed to making digital experiences smarter, faster, more intuitive, secure, and seamless through its diverse technology offerings, which include touch, display, biometrics, AI-driven wireless connectivity, video, vision, audio, speech, and security processing [1]

Core Viewpoint - Synaptics Incorporated will report its financial results for Q4 and the full year of fiscal 2025 on August 7, 2025, after market close, followed by a conference call for analysts and investors [1] Group 1: Financial Reporting - The financial results announcement is scheduled for August 7, 2025, after market close [1] - A conference call for analysts and investors will take place at 2:00 p.m. PT (5:00 p.m. ET) to discuss the results [1] - Participants must pre-register to receive dial-in information and a unique passcode for the call [2] Group 2: Company Overview - Synaptics is focused on driving innovation in AI at the Edge, enhancing user engagement with intelligent connected devices [3] - The company offers advanced solutions such as Synaptics Astra™ AI-Native embedded compute, Veros™ wireless connectivity, and multimodal sensing [3] - Synaptics aims to create smarter, faster, and more intuitive digital experiences across various technologies including touch, display, biometrics, and AI-driven connectivity [3]