MACOM(MTSI) - 2025 Q1 - Quarterly Results

Financial Performance - Revenue for Q1 FY2025 was $218.1 million, a 38.8% increase from$ 157.1 million in Q1 FY2024 and an 8.7% increase from $200.7 million in the prior quarter[5] - Net loss for Q1 FY2025 was$ 167.5 million, or $2.30 loss per diluted share, compared to net income of$ 12.5 million, or $0.17 per diluted share, in Q1 FY2024[5] - Adjusted net income for Q1 FY2025 was$ 59.5 million, or $0.79 per diluted share, compared to$ 41.8 million, or $0.58 per diluted share, in Q1 FY2024[5] - Income from operations for Q1 FY2025 was$ 17.5 million, or 8.0% of revenue, compared to $11.0 million, or 7.0% of revenue, in Q1 FY2024[5] - Adjusted EBITDA (Non-GAAP) for the quarter was$ 62,162 thousand, representing 28.5% of revenue, compared to $44,806 thousand or 28.5% in the same quarter last year[31] Margin and Expenses - Adjusted gross margin for Q1 FY2025 was 57.5%, down from 59.2% in Q1 FY2024 and 58.1% in the prior quarter[5] - Operating expenses (GAAP) rose to$ 99,582 thousand, which is 45.7% of revenue, compared to $76,300 thousand or 48.6% in the prior year[31] Future Outlook - For Q2 FY2025, MACOM expects revenue to be between$ 227 million and $233 million, with adjusted gross margin between 57% and 58%[4] - MACOM anticipates a non-GAAP income tax rate of 3% for FY2025, reflecting its strategic financial planning[4] Strategic Initiatives - The company is focused on expanding its product portfolio and enhancing competitiveness in the semiconductor market[4] - MACOM has made strategic acquisitions, including ENGIN-IC, Inc. and Linearizer Communications Group, to strengthen its market position[8] Assets and Liabilities - Total assets increased to$ 1,843,630 thousand, up from $1,755,640 thousand, representing a growth of 5.0%[27] - Total current liabilities increased to$ 272,407 thousand from $108,184 thousand, indicating a significant rise in short-term obligations[27] Cash Flow and Debt - Cash and cash equivalents at the end of the period increased to$ 232,699 thousand from $163,586 thousand, marking a significant increase[29] - The company reported a loss on extinguishment of debt amounting to$ 193,098 thousand during the latest quarter[29] - The company made an acquisition of business, netting $(12,474) thousand during the latest quarter, compared to$ (75,000) thousand in the same period last year[29]