MACOM reported strong fiscal fourth-quarter and full-year 2024 financial results, showing solid growth despite a challenging market environment. In Q4, MACOM’s revenue reached $200.7 million, marking a 33.5% year-over-year increase and a 5.4% rise from the prior quarter. Gross margin for the quarter was 54.7%, slightly down from 57.6% in the previous year’s fourth quarter but an improvement over last quarter’s 53.2%. Quarterly net income grew to $29.4 million, or $0.39 per share, compared to $24.5 million, or $0.34 per share, the previous year.
For the full fiscal year 2024, MACOM posted $729.6 million in revenue, a 12.5% increase over fiscal 2023. However, full-year gross margin dropped to 54.0% from 59.5% the previous year. Annual net income decreased to $76.9 million, or $1.04 per diluted share, from $91.6 million, or $1.28 per share, in 2023. Despite these margin pressures, MACOM’s adjusted results showcased stable performance, with adjusted income from operations at $175.0 million, representing 24.0% of revenue for the year.
• Q4 revenue: $200.7 million (+33.5% YoY)
• Q4 gross margin: 54.7%
• Q4 net income: $29.4 million ($0.39 per share)
• Fiscal year 2024 revenue: $729.6 million (+12.5% YoY)
• Fiscal year 2024 gross margin: 54.0%
• Fiscal year 2024 net income: $76.9 million ($1.04 per share)
“Our team continues to identify opportunities to expand our customer base and gain share with our leading products and technologies,” said Stephen G. Daly, President and CEO of MACOM.