MACOM reported strong revenue growth in Q1 FY25, with a 38.8% year-over-year increase, driven by continued demand across its semiconductor product portfolio. The company remains focused on expanding its product offerings and strengthening customer relationships.
Financial Highlights
Q1 FY25 GAAP Results
• Revenue: $218.1 million, up 38.8% YoY, up 8.7% QoQ
• Gross margin: 53.7%, down from 55.6% YoY and 54.7% QoQ
• Income from operations: $17.5 million (8.0% of revenue), up from $11.0 million (7.0%) YoY
• Net loss: $167.5 million (-$2.30 per share), impacted by a one-time $193.1 million debt refinancing charge
Q1 FY25 Adjusted Non-GAAP Results
• Adjusted gross margin: 57.5%, down from 59.2% YoY and 58.1% QoQ
• Adjusted income from operations: $55.4 million (25.4% of revenue), up from $38.6 million (24.5%) YoY
• Adjusted net income: $59.5 million ($0.79 per share), up from $41.8 million ($0.58) YoY
Business Outlook
For Q2 FY25 (ending April 4, 2025), MACOM expects:
• Revenue: $227 million to $233 million
• Adjusted gross margin: 57% to 58%
• Adjusted EPS: $0.82 to $0.86
CEO Commentary
“Q1 was a good start to our fiscal 2025,” said CEO Stephen G. Daly. “We remain focused on serving our customers and building a stronger, broader, and more competitive product portfolio.”