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MACOM Technology Solutions Holdings Inc. (MTSI-3.40%) has submitted its 10-Q filing for the quarterly period ended January 3, 2025.
The filing includes financial statements for the quarter, showing an increase in revenue to $218,122,000 from $157,148,000 in the same quarter the previous year. The increase is attributed to higher sales in the Industrial & Defense, Data Center, and Telecom markets.
Gross profit for the quarter was $117,109,000, compared to $87,310,000 in the previous year. The gross margin decreased to 53.7% from 55.6% due to higher costs.
Research and development expenses increased to $60,369,000 from $39,413,000, driven by higher employee-related costs and acquisitions.
Selling, general, and administrative expenses rose to $39,213,000 from $36,887,000, primarily due to increased employee-related costs.
The company reported a net loss of $167,530,000 for the quarter, compared to a net income of $12,526,000 in the previous year, largely due to a $193,098,000 loss on extinguishment of debt.
Cash provided by operating activities was $66,659,000, while cash used in investing and financing activities was $10,227,000 and $30,125,000, respectively.
MACOM had cash and cash equivalents of $232,699,000 as of January 3, 2025. The company plans to use its cash for general corporate purposes, including working capital and potential acquisitions.
The filing also details recent acquisitions, including ENGIN-IC, Inc., and the RF Business of Wolfspeed, Inc., aimed at expanding the company's capabilities in high-performance markets.
MACOM does not anticipate any changes to its dividend policy and continues to focus on leveraging its product portfolio to drive growth across its primary markets.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the MACOM Technology Solutions Holdings Inc. quarterly 10-Q report dated February 6, 2025. To report an error, please email earnings@qz.com.