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Semtech Corporation (SMTC+5.78%) has submitted its Form 10-K filing for the fiscal year ended January 26, 2025.
The filing details a net sales increase to $909.3 million for fiscal year 2025, up from $868.8 million in the previous year. This growth was primarily driven by increased sales in the infrastructure and high-end consumer markets.
Gross profit for the year was $456.5 million, reflecting a gross margin of 50.2%, an improvement from the previous year's gross margin of 34.1%. This increase was attributed to higher sales and reduced amortization of acquired technology intangible assets.
Operating expenses for the year totaled $406.6 million, a decrease from $1,240.6 million in fiscal year 2024. The reduction was largely due to lower restructuring costs and the absence of intangible impairments recorded in the prior year.
The company reported a net loss of $161.9 million for fiscal year 2025, compared to a net loss of $1,092.0 million in the previous year. The improvement was primarily due to lower goodwill and intangible asset impairments.
Interest expense decreased to $90.1 million from $95.8 million in fiscal year 2024, reflecting interest savings from debt repayments.
The filing also notes the completion of the acquisition of Sierra Wireless, Inc. in January 2023, with a total purchase consideration of approximately $1.3 billion. The acquisition was financed with a combination of cash on hand and term loans.
Semtech's liquidity as of January 26, 2025, included $151.7 million in cash and cash equivalents and $334.7 million of available borrowing capacity under its revolving credit facility.
The filing outlines various risks, including macroeconomic conditions, supply chain disruptions, and competition, which could impact future performance.
The company continues to focus on its strategic growth areas, including IoT solutions, high-performance semiconductor technologies, and cloud connectivity services.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Semtech Corporation annual 10-K report dated March 25, 2025. To report an error, please email earnings@qz.com.