Financial Data and Key Metrics Changes - Revenue for fiscal Q1 was $292.5 million, up 14% year over year, driven by strength in core IoT products [18] - Non-GAAP earnings per share increased by 35% year over year to $1.09 [7][20] - Non-GAAP gross margin was 53.2%, in line with guidance [19] - Non-GAAP operating margin improved to 17.6%, up approximately 110 basis points sequentially [20] Business Line Data and Key Metrics Changes - Core IoT product revenues grew by 74% year over year, primarily due to increased demand for processors and wireless connectivity [6][19] - Enterprise and automotive product revenues were flat year over year, with strength in the enterprise portfolio offset by softness in automotive [19] - Mobile touch product revenues were lower than expected due to supply chain constraints [19] Market Data and Key Metrics Changes - The revenue mix for Q1 was 35% from Core IoT, 51% from Enterprise and Automotive, and 14% from Mobile Touch products [18] - The company is seeing increasing customer commitments in home security systems, Matter-enabled IoT hubs, and AI-enabled wearables [12] Company Strategy and Development Direction - The company is focusing on capturing opportunities in Edge AI, with the successful launch of the next-generation Tenaptics Astra Edge AI processors [7][8] - Astra processors are designed to enable a wide range of applications, including multimodal human-machine interfaces and AI inference [9][10] - The company is committed to an integrated approach to high-performance solutions, combining processing, wireless connectivity, and mixed-signal capabilities [8][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to strengthen leadership in the Edge AI market, with a healthy pipeline of customer engagements [11] - The company expects initial revenue contributions from Astra products to start in the second half of calendar year 2026 [11] - Management anticipates continued growth in the core IoT segment, projecting 25% to 30% growth for fiscal year 2026 [33] Other Important Information - The company ended Q1 with approximately $459.9 million in cash and cash equivalents, up $7.4 million from the prior quarter [20] - Capital expenditures for Q1 were $12.2 million, driven by lab build-outs to support R&D efforts [21] Q&A Session Summary Question: Metrics to track the success of the Astra platform - Management indicated that design wins have been secured ahead of schedule and will provide updates on the pipeline and awarded designs in the coming quarters [25][26][29] Question: Intersegment volatility and guidance implications - Management noted supply constraints in mobile touch products and strong growth in core IoT, maintaining confidence in guidance for the second quarter [31][32] Question: Strength in end markets and future growth - Management highlighted strong interest in AI applications at the edge and expects significant growth in markets such as robotics and home automation [38] Question: Opportunities in mobile and potential for more OEMs - Management acknowledged the opportunity presented by mobile OEMs building their own application processors, which could enhance demand for Synaptics' wireless connectivity products [43] Question: Status on high volume shipments for MCU and combo chip products - Management confirmed that the SL2600 series is in the sampling stage and expected to go into production in the second half of calendar 2026 [47][48] Question: Growth drivers in enterprise and automotive segments - Management noted strength in the enterprise segment and anticipated a rebound in automotive, driven by upgrade cycles and market share gains [75]

Financial Performance - Q1 2026 revenue reached $292.5 million, a 14% year-over-year increase[5] - Core IoT revenue experienced substantial growth, increasing by 74% year-over-year[5,6] - Non-GAAP EPS grew by 35% year-over-year, reaching $1.09[5,18] - Non-GAAP gross margin was 53.2%[6,16] - Cash flow from operations amounted to $30 million[16] Revenue Breakdown - Q1 2026 revenue distribution: Mobile contributed $41 million, Core IoT $104 million, and Enterprise & Auto $148 million[15] - Core IoT revenue accounted for 35% of the total revenue in Q1 2026[23] Q2 2026 Guidance (Non-GAAP) - Revenue is projected to be $300 million, with a variance of ± $10 million[31] - Gross margin is expected to be 53.5%, with a variance of ± 1.0%[31] - Operating expenses are estimated at $106 million, with a variance of ± $2 million[31] - EPS is forecasted to be $1.15, with a variance of ± $0.15[31] - Revenue mix forecast: Core IoT 31%, Enterprise & Auto 53%, and Mobile 16%[31]

Revenue Performance - Net revenue for the first quarter of fiscal 2026 was $292.5 million, a 13.5% increase from $257.7 million in the same period last year[97]. - Revenue from Core IoT product applications surged by 73.8%, driven by a 64.1% increase in units sold and a 5.9% rise in average selling prices[97][102]. - Revenue from Mobile product applications decreased by 18.4%, primarily due to a $10.5 million drop in licensing revenue despite a 21.4% increase in units sold[97][102]. - The Enterprise and Automotive product line generated $147.7 million, remaining flat compared to the previous year, with a 9.0% increase in units sold offset by an 8.2% decrease in average selling prices[101][102]. Financial Metrics - Gross margin decreased to 42.6% from 46.9% year-over-year, primarily due to increased amortization of acquired intangible assets and reduced revenue from licensing[98][103]. - Operating expenses totaled $147.8 million, a slight decrease from $149.3 million in the prior year, with research and development expenses rising to $94.4 million[101][106]. - Net loss for the quarter was $20.6 million, compared to a net loss of $23.1 million in the same quarter last year[101]. - Interest expense decreased significantly to $5.8 million from $11.7 million in the prior year due to the early repayment of the Term Loan Facility[112]. Cash Flow and Liquidity - Cash and cash equivalents increased to $459.9 million, up $7.4 million from $452.5 million as of June 2025[99]. - As of September 2025, cash and cash equivalents increased to $459.9 million from $391.5 million in June 2025, reflecting a positive cash flow trend[117]. - Cash provided by operating activities for the three months ended September 2025 was $30.2 million, a significant improvement compared to cash used of $11.4 million in the same period last year[119]. - Cash flows from investing activities showed a positive shift with $48.8 million provided, compared to cash used of $9.1 million in the prior year, primarily due to $61.0 million in proceeds from short-term investments[121]. - Financing activities resulted in cash used of $10.4 million for the three months ended September 2025, up from $3.5 million in the same period last year, mainly due to $7.2 million in common stock repurchases[122]. - The company had $350.0 million available under its revolving credit facility with no outstanding balance as of September 2025[123]. Operational Efficiency - Days sales outstanding improved to 37 days in September 2025 from 47 days in September 2024, indicating better collection efficiency[120]. - The company reported a decrease of $31.6 million in accrued liabilities primarily related to annual bonus payments during the three months ended September 2025[119]. Future Outlook - The company continues to monitor global macroeconomic factors and trade policies that may impact its operations and financial performance[100]. - The effective tax rate and cash flows were not materially impacted by the Pillar Two Model Rules or the OBBBA legislation for the first three months of fiscal 2026[114][115]. - The company believes existing cash, anticipated cash flows, and available credit will be sufficient to meet working capital and cash requirements for at least the next 12 months[125]. Commitments - Unconditional purchase commitments totaled $41.1 million as of September 2025, with $27.2 million due for the remainder of fiscal 2026[124].

Financial Performance - Net revenue for Q1 fiscal 2026 was $292.5 million, representing a 14% year-over-year increase[2] - GAAP net loss for Q1 fiscal 2026 was $20.6 million, or a loss of $0.53 per basic share[2] - Non-GAAP net income for Q1 fiscal 2026 was $43.3 million, or $1.09 per diluted share[2] - Net revenue for the three months ended September 2025 was $292.5 million, an increase of 13.5% compared to $257.7 million in September 2024[28] - Operating loss for the quarter was $23.2 million, an improvement from a loss of $28.4 million in the same quarter last year[28] - Net loss for the quarter was $20.6 million, compared to a net loss of $23.1 million in September 2024[28] - Non-GAAP net income for the quarter was $43.3 million, up from $32.5 million in the same period last year[30] Revenue Projections - The company expects approximately $300 million in revenue for Q2 fiscal 2026, with a projected year-over-year growth of about 12%[6] Margins - Projected GAAP gross margin for Q2 fiscal 2026 is 43.0% ± 2.0%[6] - Non-GAAP gross margin for Q2 fiscal 2026 is expected to be 53.5% ± 1.0%[6] - Gross margin for the same period was $124.6 million, representing 42.6% of revenue, down from 46.9% in the previous year[30] Cash and Assets - Cash and cash equivalents at the end of the period increased to $459.9 million from $391.5 million at the beginning of the period[32] - Total assets decreased slightly to $2,577.1 million from $2,584.4 million in June 2025[26] - Total liabilities decreased to $1,176.5 million from $1,189.5 million in June 2025[26] Research and Development - Research and development expenses increased to $94.4 million, up from $81.3 million in the same quarter last year[30] Strategic Initiatives - The company achieved a key milestone with the launch of next-generation Astra processors, aimed at intelligent Edge applications[3] - The backlog for the quarter is reported to be healthy, indicating solid demand[4] - The company plans to continue returning capital to stockholders through share repurchases while investing in organic growth initiatives[4] Non-Cash Operating Items - Non-cash operating items for the quarter were $77.6 million, compared to $47.5 million in September 2024[32] Core Product Performance - Core IoT product sales surged by 74% year-over-year, reaching their highest level in three years[4]

Core Financial Performance - Synaptics reported net revenue of $292.5 million for Q1 fiscal 2026, reflecting a 14% year-over-year increase from $257.7 million in Q1 fiscal 2025 [2][28] - The company experienced a GAAP net loss of $20.6 million, or $0.53 per basic share, compared to a loss of $23.1 million, or $0.58 per share, in the same quarter last year [2][28] - Non-GAAP net income for the quarter was $43.3 million, translating to $1.09 per diluted share, up from $32.5 million, or $0.81 per diluted share, in Q1 fiscal 2025 [2][30] Product and Market Developments - Core IoT product sales surged by 74% year-over-year, marking the highest level in three years, which significantly contributed to the overall revenue growth [3][4] - The launch of the next-generation Astra processors, designed for intelligent Edge applications, was a key milestone for the company during the quarter [3][4] - The company hosted a successful Tech Day, showcasing its technology leadership in processors, wireless connectivity, and mixed-signal solutions for Edge AI applications [3] Business Outlook - The CFO indicated that the company expects approximately 12% year-over-year revenue growth in the fiscal second quarter, continuing a trend of increasing revenues for six consecutive quarters [4] - The company maintains a healthy backlog and lean channel inventories, positioning itself well for future growth [4] - Synaptics plans to invest in key organic growth initiatives while returning capital to stockholders through share repurchases [4] Financial Metrics - For the second quarter of fiscal 2026, Synaptics anticipates revenue of approximately $292.5 million, with a GAAP gross margin of 42.6% and a non-GAAP gross margin of 53.2% [5][6] - Projected operating expenses are expected to be around $152 million, with non-GAAP operating expenses estimated at $106 million [5][6] - The company reported a gross margin of 43.0% for the first quarter, with non-GAAP gross margin reaching 53.5% [5][6]

Financial Data and Key Metrics Changes - The meeting confirmed that a total of 39,050,213 shares of common stock were outstanding and entitled to vote, with 36,497,062 shares represented by proxy, indicating approximately 93.46% of all shares entitled to vote were present, thus constituting a quorum [6][8]. Business Line Data and Key Metrics Changes - The meeting included proposals for the election of six directors and the ratification of KPMG LLP as the Independent Auditor for the fiscal year ending June 27, 2026, which were all approved [11][15]. Market Data and Key Metrics Changes - No specific market data or key metrics changes were discussed during the meeting. Company Strategy and Development Direction - The company is focused on enhancing its equity and incentive compensation plans, with proposals to increase share reserves under these plans by 1,900,000 shares and 1,500,000 shares respectively [12]. Management's Comments on Operating Environment and Future Outlook - Management did not provide specific comments on the operating environment or future outlook during this meeting. Other Important Information - The final report of the Inspector of Election will be filed with the records of the meeting, and results will be reported on a Form 8-K to be filed with the SEC within the next four business days [17]. Q&A Session Summary Question: Were there any questions on Proposals 1 through 4? - No specific questions were recorded during the meeting regarding the proposals [14].

Financial Data and Key Metrics Changes - The company reported a total of 39,050,213 shares of common stock outstanding as of September 4, 2025, with approximately 93.46% represented at the meeting [6][8]. Business Line Data and Key Metrics Changes - The meeting included proposals for the election of six directors and the ratification of KPMG LLP as the Independent Auditor for the fiscal year ending June 27, 2026, indicating ongoing governance and oversight [11][12]. Market Data and Key Metrics Changes - No specific market data or key metrics were discussed in the provided content. Company Strategy and Development Direction and Industry Competition - The company is focused on governance through the election of directors and the approval of compensation plans, which suggests a commitment to aligning executive incentives with shareholder interests [11][12][15]. Management's Comments on Operating Environment and Future Outlook - Management did not provide specific comments on the operating environment or future outlook in the provided content. Other Important Information - The company plans to report the final results of the voting on a Form 8-K to be filed with the SEC within the next four business days, ensuring transparency and compliance with regulatory requirements [17]. Q&A Session All Questions and Answers Question: Were there any questions on Proposals 1 through 4? - No specific questions were recorded in the provided content, but the polls were declared closed shortly after, indicating that all voting participants had cast their votes [14].

Financial Data and Key Metrics Changes - The meeting confirmed that the 2025 Annual Report, including financial statements certified by KPMG LLP, was made available to stockholders [4] - A total of 39,050,213 shares of common stock were outstanding and entitled to vote, with approximately 93.46% represented by proxy at the meeting [6] Business Line Data and Key Metrics Changes - The meeting included proposals for the election of six directors and the ratification of KPMG LLP as the Independent Auditor for the fiscal year ending June 27, 2026 [11][12] - The share reserve under the amended and restated 2019 Equity and Incentive Compensation Plan will be increased by 1,900,000 shares if approved [12] Market Data and Key Metrics Changes - No specific market data or key metrics changes were discussed during the meeting [0] Company Strategy and Development Direction and Industry Competition - The company is focused on maintaining strong governance through the election of directors and the approval of compensation plans for executive officers [11][12] Management's Comments on Operating Environment and Future Outlook - Management did not provide specific comments on the operating environment or future outlook during this meeting [0] Other Important Information - The final report of the Inspector of Election will be filed with the records of the meeting, and results will be reported on a Form 8-K to be filed with the SEC within the next four business days [17] Q&A Session All Questions and Answers Question: Were there any questions on Proposals 1 through 4? - The polls were closed, and the results indicated that all proposals were approved, including the election of directors and the ratification of KPMG LLP as the Independent Auditor [14][15]

Core Insights - Metirionic GmbH has successfully integrated its Metirionic Advanced Ranging Stack (MARS) with Synaptics' Bluetooth portfolio, enabling true 3D localization and precise spatial awareness [1][2] - The MARS implementation is fully compliant with Bluetooth Core Specification 6.1 and is optimized for Android mobile devices and Synaptics Astra™ Embedded Linux IoT systems [1][4] - This collaboration enhances Bluetooth-based location technologies, providing applications such as secure access, indoor navigation, and proximity-based services [3][5] Technology and Features - The combination of Synaptics' Bluetooth hardware and Metirionic's MARS stack allows for advanced Channel Sounding, extending beyond traditional methods like Phase-Based Ranging (PBR) and Round-Trip Time (RTT) [2] - MARS provides angle estimation directly from the channel sounding procedure, overcoming previous limitations in direction-finding and adding directional awareness to precise ranging [2][6] - The architecture allows developers to balance latency, accuracy, and complexity, making it suitable for various applications from high-end systems to resource-constrained devices [2][4] Applications and Use Cases - Real-world applications include secure access in industrial facilities, guiding visitors in office buildings, reliable asset tracking, and proximity-based services [3][6] - The technology enables seamless user experiences, such as automatically disarming alarms when in proximity, showcasing its potential in access control and context-aware interactions [7][8] Market Position and Future Outlook - The partnership between Metirionic and Synaptics positions both companies to lead in Bluetooth innovation, expanding into new applications where precise distance and spatial awareness are critical [5][6] - MARS is now available on Synaptics' connectivity and processing technology, facilitating broader adoption and engagement with mobile device partners [8]

Core Insights - Synaptics Incorporated will report its financial results for the first quarter of fiscal 2026 on November 6, 2025, after market close [1] - A conference call for analysts and investors will be held at 2:00 p.m. PT (5:00 p.m. ET) to discuss the results [1] Company Overview - Synaptics is focused on driving innovation in AI at the Edge, enhancing user engagement with intelligent connected devices across various environments [3] - The company offers advanced solutions including Synaptics Astra™ AI-Native embedded compute, Veros™ wireless connectivity, and multimodal sensing technologies [3] - Synaptics aims to create smarter, faster, and more intuitive digital experiences, covering areas such as touch, display, biometrics, and AI-driven connectivity [3]