MACOM(US:MTSI)2025-11-06 12:31Revenue Performance - Revenue for the fiscal fourth quarter of 2025 was $261.2 million, a 30.1% increase from $200.7 million in the same quarter of the previous year[6] - For fiscal year 2025, total revenue reached $967.3 million, a 32.6% increase from $729.6 million in fiscal year 2024[6] - Revenue for the three months ended October 3, 2025, was $261,170 million, a 3% increase from $252,079 million for the same period in 2024[29] - The company expects revenue for the fiscal first quarter of 2026 to be between $265 million and $273 million[8] Profitability Metrics - Net income for the fourth quarter was $45.1 million, or $0.59 per diluted share, compared to $29.4 million, or $0.39 per diluted share, in the previous year[6] - Adjusted net income for fiscal year 2025 was $263.4 million, or $3.47 per diluted share, compared to $188.2 million, or $2.56 per diluted share, in fiscal year 2024[6] - Net income for the three months ended October 3, 2025, was $45,120 million, compared to $36,534 million for the same period in 2024, representing a 23% increase[29] - Adjusted net income (Non-GAAP) for the twelve months ended October 3, 2025, was $263,372 million, representing 27.2% of revenue, up from $188,217 million (25.8%) year-over-year[35] Gross Margin and Profit - Gross margin for the fourth quarter was 54.5%, slightly down from 54.7% in the previous year[6] - Gross profit for the twelve months ended October 3, 2025, reached $529,002 million, compared to $393,773 million for the previous year, reflecting a 34% increase[29] - Gross profit for the three months ended October 3, 2025, was $142,301 million, representing 54.5% of revenue, compared to $139,436 million (55.3%) for the previous quarter[35] - Adjusted gross profit (Non-GAAP) for the twelve months ended October 3, 2025, was $555,289 million, accounting for 57.4% of revenue, up from $422,636 million (57.9%) year-over-year[35] Operating Expenses - Research and development expenses for the three months ended October 3, 2025, were $62,880 million, slightly down from $63,380 million in the prior quarter[29] - Operating expenses (GAAP) for the three months ended October 3, 2025, were $102,706 million, or 39.3% of revenue, compared to $101,776 million (40.4%) in the previous quarter[35] - Adjusted operating expenses (Non-GAAP) for the twelve months ended October 3, 2025, were $309,557 million, representing 32.0% of revenue, down from $247,603 million (33.9%) year-over-year[35] Strategic Initiatives - MACOM has made strategic acquisitions, including ENGIN-IC, Inc. and Linearizer Communications Group, to enhance its product offerings[11] - The company operates facilities across the United States, Europe, and Asia, servicing over 6,000 customers annually[10] - Management expressed confidence in starting fiscal 2026, building on the strong foundation established in fiscal year 2025[7] Balance Sheet and Cash Flow - Total current assets increased to $1,205,088 million as of October 3, 2025, from $903,078 million a year earlier, marking a 33% growth[31] - Cash and cash equivalents decreased to $112,142 million from $146,806 million year-over-year[31] - Net cash provided by operating activities for the twelve months ended October 3, 2025, was $235,368 million, up from $162,640 million in the previous year[33] - Total liabilities increased to $776,265 million as of October 3, 2025, compared to $629,297 million a year prior, indicating a 23% rise[31] - The company reported a loss on extinguishment of debt amounting to $193,098 million for the twelve months ended October 3, 2025[33] Shareholder Metrics - The weighted average diluted shares outstanding increased to 76,252 million for the three months ended October 3, 2025, from 75,864 million in the prior quarter[29] - Interest income (GAAP) for the three months ended October 3, 2025, was $8,016 million, or 3.1% of revenue, compared to $7,598 million (3.0%) in the previous quarter[36] - Adjusted interest income (Non-GAAP) for the twelve months ended October 3, 2025, was $25,786 million, accounting for 2.7% of revenue, compared to $18,996 million (2.6%) year-over-year[36]