Q3 2025 Synaptics Inc Earnings Call Transcript
Key Points
- Synaptics Inc (SYNA) reported a 12% year-over-year revenue increase to $267 million, slightly above the midpoint of their guidance range.
- Core IoT product sales increased by 43% year-over-year, driven by strong demand for wireless and processor products.
- Non-GAAP EPS grew 70% year-over-year to $0.90, exceeding the midpoint of their guidance.
- The company launched its first Wi-Fi 7 device for IoT applications, promising higher throughput and improved reliability.
- Synaptics Inc (SYNA) expanded its Veros connectivity portfolio, opening a $3 billion market opportunity with a cost-effective solution for embedded edge IoT applications.
- The automotive sector continues to face sluggish demand, impacting Synaptics Inc (SYNA)'s enterprise and automotive product revenues.
- Mobile product revenues declined 18% year-over-year due to the end of life of product shipments to a large customer.
- The company faces uncertainty around potential indirect impacts from global trade tariffs on future demand and supply chain.
- Non-GAAP operating margin decreased sequentially by 170 basis points due to increased operating expenses related to the Broadcom transaction.
- Cash, cash equivalents, and short-term investments decreased by approximately $174.7 million from the prior quarter, partly due to the Broadcom transaction.
Good day and thank you for standing by. Welcome to the Synaptics Inc. third-quarter fiscal year 2025 financial results webcast and conference call.
(Operator Instructions)
Please be advised that today's conference is being recorded.
I would now like to on the conference with your first speaker today, Munjal Shah, Head of Investor Relations, please go ahead.
Good afternoon and thank you for joining us today on Synaptics' third quarter fiscal 2025 conference call. My name is Munjal Shah, and I'm Head of Investor Relations. With me on today's call are Ken Rizvi, our Interim CEO and Chief Financial Officer; Satish Ganesan, our SVP Intelligence Sensing Division and Chief Strategy Officer; Venkat Kodavati, SVP Wireless; and Vikram Gupta, SVP of IoT Processors and Chief Product Officer.
This call is being broadcast live over the web and can be accessed from the Investor Relations section of the company's website at synaptics.com.
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