Synaptics(US:SYNA)2026-02-05 21:10Financial Performance - Net revenue for Q2 fiscal 2026 was $302.5 million, representing a 13% year-over-year increase[2] - GAAP net loss for Q2 fiscal 2026 was $14.8 million, or a loss of $0.38 per basic share[2] - Non-GAAP net income for Q2 fiscal 2026 was $48.4 million, or $1.21 per diluted share[2] - The company has maintained double-digit year-over-year revenue growth for five consecutive quarters[4] - The outlook for Q3 reflects continued year-over-year growth, supported by a healthy backlog[4] - Net loss for the three months ended December 2025 was $(14.8) million, compared to a net income of $1.8 million in the same period of 2024[30] - Net loss for the six months ended December 2025 was $35.4 million, compared to a loss of $21.3 million in the same period of 2024[35] Revenue and Growth - Core IoT product sales grew by 53% year-over-year, significantly contributing to revenue growth[3] - For Q3 fiscal 2026, the company expects revenue of $290 million ± $10 million[6] - Net revenue for the three months ended December 2025 was $302.5 million, a 13.9% increase from $267.2 million in the same period of 2024[30] Margins and Expenses - GAAP gross margin was 43.5%, while non-GAAP gross margin was 53.6%[5] - Projected non-GAAP gross margin for Q3 fiscal 2026 is 53.5% ± 1.0 percent[6] - Gross margin for the three months ended December 2025 was $131.7 million, representing 43.5% of revenue, compared to 45.7% in the same period of 2024[32] - Research and development expenses for the three months ended December 2025 were $95.1 million, an increase of 14.5% from $83.3 million in the same period of 2024[32] Assets and Liabilities - Total current assets as of December 2025 were $771.0 million, up from $751.9 million in June 2025[28] - Total liabilities as of December 2025 were $1,179.5 million, a decrease from $1,189.5 million in June 2025[28] - Total stockholders' equity as of December 2025 was $1,383.8 million, down from $1,394.9 million in June 2025[28] Cash Flow - Cash and cash equivalents increased to $437.4 million as of December 2025, compared to $391.5 million in June 2025[28] - Net cash provided by operating activities rose to $60.0 million, up from $11.4 million in the previous year[35] - Net cash used in investing activities improved to $37.2 million from a usage of $14.6 million in the prior period[35] - Cash and cash equivalents at the end of the period were $437.4 million, down from $596.1 million a year earlier[35] - The company reported a net increase in cash and cash equivalents of $45.9 million, contrasting with a decrease of $280.8 million in the prior year[35] Stock and Financing Activities - Repurchases of common stock amounted to $43.6 million, a decrease from $74.5 million in the same period last year[35] - Net cash used in financing activities was $51.1 million, compared to $278.2 million in the previous year[35] - The company did not acquire any businesses during the period, compared to a cash outflow of $0.8 million in the previous year[35] Non-Cash Items - Non-cash operating items increased to $155.7 million from $97.3 million year-over-year[35] - The effect of exchange rate changes on cash and cash equivalents resulted in a decrease of $0.2 million[35]