The earnings call reflects a strong performance in Q2 2025, with significant growth in the Communications and Compute segments and a positive outlook for Q3. Despite challenges in the Industrial and Automotive segments, the overall sentiment is positive due to record design wins and strong financial metrics.

Company Guidance -

Q3 2025

During Lattice Semiconductor's Q2 2025 earnings call, the company provided guidance for Q3 2025, projecting revenue at $133 million, representing a 7.2% sequential growth, the largest in three years. They anticipate a gross margin midpoint of 69.5% and EPS of $0.28, exceeding current expectations. For Q2 2025, Lattice reported revenue of $124 million, up 3% from Q1 and flat year-over-year, with a non-GAAP gross margin of 69.3% and adjusted EBITDA of 34.1%. The Communications and Computing segment showed substantial growth, with a 20% sequential and 26% year-over-year increase. The Industrial and Automotive segment experienced declines but is expected to recover by year-end as channel inventory normalizes. Lattice also highlighted significant design wins and growth opportunities in AI and far-edge applications. The company remains optimistic about long-term growth, targeting a return to 15%-20% revenue growth in 2026, driven by both new product introductions and a recovery in Industrial and Automotive markets.

Record Design Wins and Growth Opportunities

Lattice achieved record levels of design wins and expanded opportunities with major partners, particularly in the Communications and Compute segments. The company sees impactful growth opportunities from major design wins alongside AI accelerators in cloud data centers and industrial robotics.

Strong Q2 Financial Performance

Lattice delivered Q2 revenue of $124 million, up 3% from Q1, flat year-over-year. Non-GAAP gross margin was strong at 69.3%, and adjusted EBITDA expanded to 34.1%.

Communications and Compute Segment Surge

The Communications and Compute segment grew 20% sequentially and 26% year-over-year, marking the highest growth for this segment in 5 years.

Positive Outlook for Q3 2025

Lattice expects Q3 revenue to reach $133 million at the midpoint, a sequential growth of 7.2%. The gross margin is expected to improve to 69.5% at the midpoint, with EPS of $0.28 above current expectations.

Strong Free Cash Flow and Capital Allocation

GAAP net cash flow from operating activities increased to $38.5 million. Free cash flow in Q2 was $31.3 million with a 25.2% margin, up from $23.3 million in Q1. The company repurchased $46 million of common stock in the quarter.

Lattice Semiconductor (LSCC) Earnings, Revenues Date & History

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LSCC Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 04, 2025	2025 (Q3)	0.28 / -	0.24	―	―	―
Aug 04, 2025	2025 (Q2)	0.24 / 0.24	0.23	4.35% (<+0.01)
May 05, 2025	2025 (Q1)	0.22 / 0.22	0.29	-24.14% (-0.07)
Feb 10, 2025	2024 (Q4)	0.19 / 0.15	0.45	-66.67% (-0.30)
Nov 04, 2024	2024 (Q3)	0.24 / 0.24	0.53	-54.72% (-0.29)
Jul 29, 2024	2024 (Q2)	0.24 / 0.23	0.52	-55.77% (-0.29)
Apr 29, 2024	2024 (Q1)	0.28 / 0.29	0.51	-43.14% (-0.22)
Feb 12, 2024	2023 (Q4)	0.45 / 0.45	0.49	-8.16% (-0.04)
Oct 30, 2023	2023 (Q3)	0.52 / 0.53	0.48	10.42% (+0.05)
Jul 31, 2023	2023 (Q2)	0.51 / 0.52	0.42	23.81% (+0.10)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

LSCC Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 04, 2025	$48.73	$56.14	+15.21%
May 05, 2025	$52.46	$47.59	-9.28%
Feb 10, 2025	$54.47	$58.64	+7.66%
Nov 04, 2024	$51.89	$51.18	-1.37%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.