Silicon Labs Reports Fourth Quarter 2024 Results

Core Viewpoint - Silicon Labs reported strong fourth-quarter results for 2024, with revenue nearly doubling year-over-year, and anticipates sequential revenue growth in the first quarter of 2025 due to increasing design wins in key focus areas [2][3]. Financial Performance - Fourth-quarter revenue was $166 million, a significant increase from $86.8 million in the same quarter of the previous year [6][9]. - Industrial & Commercial revenue was $89 million, down 8% sequentially, while Home & Life revenue was $78 million, up 11% sequentially [6]. - GAAP gross margin was 54.3%, with GAAP operating expenses at $119 million, resulting in a GAAP operating loss of $29 million [6][9]. - Non-GAAP gross margin was 54.6%, with non-GAAP operating expenses at $98 million, leading to a non-GAAP operating loss of $7 million [6][10]. Business Outlook - The company expects first-quarter revenue to be between $170 million and $185 million [3][14]. - GAAP gross margin is projected to be between 54% and 56%, with GAAP operating expenses estimated at approximately $128 million to $130 million [6][14]. - Non-GAAP diluted earnings (loss) per share is expected to range from $0.01 to $(0.19) [6][14]. Cash Flow and Balance Sheet - Cash and cash equivalents increased to $281.6 million from $227.5 million year-over-year [16][17]. - Total assets decreased to $1.22 billion from $1.44 billion year-over-year, with total liabilities also decreasing [16][17].