AMSTERDAM, The Netherlands, Sept. 12, 2024 (GLOBE NEWSWIRE) -- b<>com and Synaptics® Incorporated (Nasdaq: SYNA) announced today that b<>com has implemented its market-proven *Sublima*™ algorithm on Synaptics' VS680 multimedia system on chip (SoC). This is the first AI-enabled frame-accurate, dynamic SDR-to-HDR video conversion for set-top boxes (STBs). The algorithm fully leverages the VS680's optimized neural processing unit (NPU), 7.9 TOPS performance, heterogeneous architecture, and security capabilitie ...

SAN JOSE, Calif., Aug. 30, 2024 (GLOBE NEWSWIRE) -- Synaptics® Incorporated (Nasdaq: SYNA) today announced its participation in an upcoming investor conference. Michael Hurlston, President & Chief Executive Officer, and Ken Rizvi, CFO, will participate in the Citi's 2024 Global TMT Conference and GEMS Conference on Thursday, September 5, 2024. About Synaptics Incorporated: Synaptics (Nasdaq: SYNA) is changing the way humans engage with connected devices and data, engineering exceptional experiences througho ...

SAN JOSE, Calif., Aug. 16, 2024 (GLOBE NEWSWIRE) -- Synaptics® Incorporated (Nasdaq: SYNA) today announced its participation in upcoming investor conferences. Ken Rizvi, CFO, will virtually participate in the 5th Annual Needham Virtual Semiconductor & SemiCap 1x1 Conference on Thursday, August 22, 2024. Ken Rizvi, CFO, will participate in Jefferies Semiconductor, IT Hardware & Communications Technology Conference on Wednesday, August 28, 2024. About Synaptics Incorporated: Synaptics (Nasdaq: SYNA) is changi ...

| --- | --- | |------------------------------------------------------------------------|-------| | | | | | | | Fourth Quarter Fiscal 2024 Earnings SUPPLEMENTAL SLIDES AUGUST 8, 2024 | | Safe Harbor Statement This presentation contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. Forward-looking statements give our current expectations and projections relating to our financial conditi ...

Synaptics Incorporated. (NASDAQ:SYNA) Q4 2024 Earnings Conference Call August 8, 2024 5:00 PM ET Company Participants Munjal Shah - VP, IR Michael Hurlston - President, CEO Ken Rizvi - CFO Matt Padfield - VP- Finance Conference Call Participants Kevin Cassidy - Rosenblatt Securities Quinn Bolton - Needham Peter Peng - JPMorgan Operator Good day, and thank you for standing by. Welcome to the Synaptics Inc. Fourth Quarter Fiscal Year 2024 Financial Results Conference Call. At this time, all participants are i ...

Synaptics (SYNA) came out with quarterly earnings of $0.64 per share, beating the Zacks Consensus Estimate of $0.55 per share. This compares to earnings of $0.49 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 16.36%. A quarter ago, it was expected that this maker of touch-screen technology would post earnings of $0.50 per share when it actually produced earnings of $0.53, delivering a surprise of 6%. Over the last four quarte ...

Financial Performance - Q4 fiscal 2024 revenue was $247.4 million, with GAAP net income of $208.3 million, translating to $5.22 per diluted share[1][2] - For the full year fiscal 2024, net revenue reached $959.4 million, with GAAP gross margin at 45.8%, down from 52.8% in the prior year[2] - Net revenue for the three months ended June 2024 was $247.4 million, an increase from $227.3 million in June 2023, representing an 11.6% year-over-year growth[21] - Net income for the three months ended June 2024 was $208.3 million, a significant recovery from a net loss of $23.4 million in June 2023[21] - GAAP net income for the year ended June 2024 was $125.6 million, significantly higher than a net loss of $73.6 million in June 2023[25] - Non-GAAP diluted earnings per share for Q4 fiscal 2024 was $0.64, with a non-GAAP net income of $25.6 million[1] - Basic net income per share for June 2024 was $5.27, compared to a loss of $0.59 per share in June 2023[21] - Non-GAAP net income per share for June 2024 was $0.64, an increase from $0.49 in June 2023[23] Margins and Expenses - Non-GAAP gross margin for fiscal 2024 was 53.0%, down from 60.1% in the previous year[2] - Gross margin for the three months ended June 2024 was $113.4 million, compared to $101.2 million in June 2023, reflecting a 12.2% increase[21] - GAAP gross margin for June 2024 was $113.4 million, up from $101.2 million in June 2023, representing a 1.3 percentage point increase in gross margin percentage to 45.8%[23] - Non-GAAP gross margin for June 2024 was $132.2 million, compared to $126.7 million in June 2023, with a gross margin percentage of 53.4%[23] - Research and development expenses remained stable at $84.4 million for the three months ended June 2024, compared to $84.5 million in June 2023[21] - Research and development expenses for June 2024 were $84.4 million, slightly down from $84.5 million in June 2023[23] - The company reported acquisition-related costs of $17.8 million for the three months ended June 2024, down from $24.5 million in June 2023[21] - Acquisition-related costs for June 2024 were $21.7 million, down from $33.0 million in June 2023[23] Future Guidance and Market Outlook - Guidance for Q1 fiscal 2025 projects revenue of $255 million ± $15 million, with a gross margin of 45.0% ± 1.5%[4] - The company anticipates improved demand signals but remains cautious due to slow recovery in end markets[4] - Core IoT products grew 63% year-over-year in Q4, driven by the wireless group, indicating a positive demand trend[3] Balance Sheet and Cash Flow - Total current assets decreased to $1,162.3 million in June 2024 from $1,272.0 million in June 2023, a decline of 8.7%[20] - Total liabilities decreased slightly to $1,358.2 million in June 2024 from $1,368.0 million in June 2023, a reduction of 0.9%[20] - Long-term debt was $966.9 million in June 2024, slightly down from $972.0 million in June 2023[20] - Total stockholders' equity increased to $1,466.8 million in June 2024 from $1,243.4 million in June 2023, a growth of 18.0%[20] - Cash and cash equivalents at the end of June 2024 were $876.9 million, down from $924.7 million at the end of June 2023[25] - The company experienced a net change in cash and cash equivalents of $(47.8) million for the year ended June 2024[25] Strategic Initiatives - The launch of the native-AI compute platform, Astra, is expected to enhance content gains with new and existing customers[3] - The company maintains a strong balance sheet, providing flexibility to drive growth and fund strategic initiatives[4] - Operating expenses for Q1 fiscal 2025 are expected to be $135 million ± $4 million, with non-GAAP operating expenses at $96 million ± $2 million[4] - Non-GAAP operating income for June 2024 was $35.7 million, compared to $29.2 million in June 2023[23] - The company reported a non-cash operating item of $(19.8) million for the year ended June 2024, compared to $281.3 million in June 2023[25]

Core Viewpoint - Synaptics Incorporated will report its financial results for the fourth quarter of fiscal 2024 on August 8, 2024, after market close, and will host a conference call for analysts and investors to discuss these results and forward-looking information [1]. Group 1 - The conference call is scheduled for 2:00 p.m. PT (5:00 p.m. ET) [1]. - Registrants will receive dial-in information and a unique passcode to access the call, with a recommendation to join ten minutes early [2]. - Synaptics will provide a live and archived webcast of the conference call, accessible from the "Investor Relations" section of its website [5]. Group 2 - Synaptics is focused on enhancing human engagement with connected devices and data, offering innovative solutions across various environments such as home, work, and automotive [6]. - The company partners with leading intelligent system providers to integrate advanced technologies in touch, display, and biometrics, along with AI-enhanced processing capabilities [6].

To participate on the live call, analysts and investors should pre-register at Synaptics Q4 FY2024 Earnings Call Registration. https://register.vevent.com/register/BI2bc08f03d13942d0805b232e6eca6eef Synaptics will also offer a live and archived webcast of the conference call, accessible from the "Investor Relations" section of the Company's website at https://investor.synaptics.com. Synaptics and the Synaptics logo are trademarks of Synaptics in the United States and/or other countries. All other marks are ...

Financial Data and Key Metrics Changes - Revenue for the March quarter was $237.3 million, slightly above the mid-point of guidance, with year-over-year revenue down 27% but flat compared to the prior quarter [16][17] - GAAP gross margin was 46.5%, while non-GAAP gross margin was 52.9%, in line with guidance [20] - GAAP net loss for the March quarter was $18.1 million, or $0.46 per basic share, while non-GAAP net income was $21 million, a 72% decrease year-over-year [22] Business Line Data and Key Metrics Changes - Core IoT revenue increased 26% sequentially but was down 49% year-over-year [17] - Enterprise & Automotive revenue was roughly flat quarter-over-quarter, down 30% year-over-year [9][18] - Mobile product revenue was up 33% year-over-year but down 12% from the prior quarter due to seasonality [18] Market Data and Key Metrics Changes - The wireless products drove Core IoT revenue 26% higher compared to the prior quarter, with design wins in various sectors starting to ramp [8] - Automotive TDDI products saw strong demand, with design wins at several OEMs in North America and Europe [11] - The enterprise segment is experiencing suppressed demand, particularly in hardware and accessories, with IT spending at historically low levels [10] Company Strategy and Development Direction - The launch of the Astra processor platform targets a $20 billion silicon market opportunity for edge IoT devices, emphasizing AI integration [6][16] - The company is focusing on cross-selling initiatives, leveraging wins in video processors and collaboration devices to drive revenue [7] - There is an expectation of continued double-digit growth in Core IoT products as channel inventories normalize and demand improves [25] Management's Comments on Operating Environment and Future Outlook - Management noted that while inventory levels have normalized, demand remains lower than expected, particularly in the enterprise segment [31][36] - The company anticipates a gradual recovery in demand as enterprise spending returns, with expectations for revenue in the June quarter to be in the range of $230 million to $260 million [24][25] - Management expressed confidence in the wireless business returning to previous revenue levels as new products and design wins come online [58][60] Other Important Information - The company is in the process of searching for a new CFO, with discussions ongoing with qualified candidates [15] - The Astra platform's success at Embedded World generated significant customer interest across various industries [5][6] Q&A Session Summary Question: Inventory normalization and challenges - Management indicated that inventory has been worked down, with challenges primarily related to demand, particularly in the enterprise segment [31][32] Question: Legacy DDIC product impact - Management expects the legacy DDIC drag to decrease significantly by the second half of the year, potentially hitting zero by the fourth quarter [33][34] Question: Signs of recovery in demand - Management believes that natural demand is significantly higher than current levels and expects a pull-up in numbers as enterprise spending returns [36][39] Question: Wireless connectivity revenue and growth - Management confirmed confidence in returning to a $200 million revenue run rate for wireless, with new products and design wins expected to drive growth [58][60] Question: Mobile revenue outlook - Management indicated that mobile revenue is likely to remain flattish, with potential growth opportunities in the mid-tier Android space [61][63]