Silicon Motion reports Q1 non-GAAP EPS $1.58 vs.$1.26 in the last quarter

Reports Q1 revenue $342.1M vs.$278.5M in the previous quarter. “Our Q1 results exceeded our revenue, gross margin and operating margin expectations, driven primarily by strong growth in our embedded eMMC & UFS controllers and our Ferri and boot drive solutions,” stated Wallace Kou, President & CEO of Silicon Motion (SIMO). “Our embedded eMMC & UFS controller business was up over 30% sequentially and over 140% year-over-year, driven primarily by recent market share gains despite weakening smartphone sales resulting from higher memory and storage component costs. Our Ferri and boot drive solutions business saw significant sequential and year-over-year growth as new Ferri for automotive products ramped and our enterprise boot drive solutions began to scale with our AI infrastructure/GPU customer. Our SSD controller business declined sequentially, in line with typical seasonality, but increased approximately 45% year-over-year as we began to reap the benefits of our new PCIe 5 controllers that carry much higher ASPs when compared to previous generations. MonTitan will enter volume commercial production in the current quarter, earlier than planned, and our customers expect to ramp five tier-one CSPs, three in Asia and two in the US, in the second half of this year. Overall, this was a great start to 2026. Our investments in share gains across all our markets and expansion into new enterprise/AI opportunities are taking hold and are already creating strong tailwinds for growth this year and beyond.”