The earnings call displayed a generally positive sentiment, with notable achievements in data center and infrastructure net sales, AI connectivity advancements, and LoRa solutions growth. However, challenges such as declines in IoT systems hardware sales and gross margin pressure due to cellular module issues were also mentioned. Overall, the highlights outweighed the lowlights.

Company Guidance -

Q2 2026

During the Semtech Corporation's First Quarter Fiscal Year 2026 earnings call, the company exceeded the midpoint of their guidance for net sales, adjusted gross margin, adjusted operating margin, and adjusted diluted earnings per share. With net sales reaching $251.1 million, a 22% year-over-year increase, the firm demonstrated operational resilience amidst dynamic tariff policies. Their infrastructure net sales were $72.8 million, up 5% sequentially and 30% year-over-year, while data center sales hit a record $51.6 million, marking a 3% sequential and a 143% year-over-year rise. Their high-end consumer market was flat sequentially with $35.4 million in sales, and industrial sales stood at $142.8 million, reflecting a 24% year-over-year increase. The company anticipates second-quarter net sales of $256 million, projecting an adjusted gross margin of 53.0% and adjusted diluted earnings per share of $0.40. Despite some macroeconomic uncertainties potentially affecting portfolio optimization initiatives, Semtech remains focused on margin expansion and strategic R&D investments to drive long-term shareholder value.

Record Data Center Revenue

Net sales for data center were a record $51.6 million, up 3% sequentially and up 143% year-over-year.

Strong Infrastructure Growth

Infrastructure net sales were $72.8 million, up 5% sequentially and up 30% year-over-year.

Significant Progress in AI Connectivity

CopperEdge enables a significant paradigm shift in connectivity, delivering over 90% reduced power consumption compared to DSP-based options.

LoRa Enabled Solutions Growth

Net sales of LoRa enabled solutions were $38.9 million, up 5% sequentially and up 81% year-over-year.

Debt Reduction and Financial Stability

Net debt sequentially decreased $14.8 million to $396.2 million, and strong business performance contributed to an adjusted net leverage ratio below 2.

Semtech (SMTC) Earnings, Revenues Date & History

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SMTC Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 25, 2025	2026 (Q2)	0.40 / -	0.11	―	―	―
May 27, 2025	2026 (Q1)	0.37 / 0.38	0.06	533.33% (+0.32)
Mar 13, 2025	2025 (Q4)	0.32 / 0.40	-0.06	766.67% (+0.46)
Nov 25, 2024	2025 (Q3)	0.23 / 0.26	0.02	1200.00% (+0.24)
Aug 27, 2024	2025 (Q2)	0.10 / 0.11	0.11	0.00% (0.00)
Jun 05, 2024	2025 (Q1)	0.01 / 0.06	0.02	200.00% (+0.04)
Mar 28, 2024	2024 (Q4)	-0.04 / -0.06	0.47	-112.77% (-0.53)
Dec 06, 2023	2024 (Q3)	-0.15 / 0.02	0.65	-96.92% (-0.63)	―
Sep 13, 2023	2024 (Q2)	0.02 / 0.11	0.87	-87.36% (-0.76)	―
Jun 07, 2023	2024 (Q1)	-0.08 / 0.02	0.8	-97.50% (-0.78)	―

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

SMTC Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 27, 2025	$38.78	$37.01	-4.56%
Mar 13, 2025	$32.71	$39.60	+21.06%
Nov 25, 2024	$53.44	$63.11	+18.10%
Aug 27, 2024	$38.16	$42.43	+11.19%

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.