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]