MACOM Technology Solutions reported a strong finish to fiscal 2025, driven by robust demand across its semiconductor portfolio for optical, RF, and microwave markets. The company posted fourth-quarter revenue of $261.2 million, up 30% year-over-year and 3.6% sequentially, with GAAP net income rising to $45.1 million, or $0.59 per diluted share. Adjusted earnings reached $0.94 per share. For the full year, MACOM’s revenue climbed 32.6% to $967.3 million, while adjusted net income rose 40% to $263.4 million, or $3.47 per share.
Operating margins continued to expand as the company scaled production and integrated new assets. Fiscal 2025 GAAP income from operations increased to $129.7 million, nearly doubling from 2024. A one-time $193.1 million non-cash loss related to refinancing its convertible senior notes produced a reported net loss of $54.2 million. On a non-GAAP basis, MACOM achieved an adjusted operating margin of 25.4% for the year, up from 24.0% in fiscal 2024.
For the fiscal first quarter of 2026, MACOM projects revenue between $265 million and $273 million and adjusted EPS between $0.98 and $1.02, with gross margins in the 56.5%–58.5% range. CEO Stephen G. Daly said, “We built upon our strong foundation in fiscal year 2025, and we look forward to starting fiscal 2026.”
• Fiscal Q4 revenue: $261.2 million (+30% YoY)
• Fiscal 2025 revenue: $967.3 million (+32.6% YoY)
• Adjusted FY25 EPS: $3.47 (+36% YoY)
• FY25 adjusted operating margin: 25.4%
• FY26 Q1 outlook: $265M–$273M revenue, $0.98–$1.02 EPS
🌐 Analysis: MACOM’s 2025 performance underscores growing traction in data center, telecom, and defense semiconductor demand. The company’s recent partnership with HRL Laboratories to advance GaN-on-SiC technology signals its continued investment in high-frequency and high-power device leadership. Competitors such as Qorvo and Wolfspeed are pursuing similar GaN strategies to meet RF and optical infrastructure growth tied to 5G and AI workloads.
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