Silicon Labs (NASDAQ:SLAB) Q4 2022 Earnings Conference Call February 1, 2023 8:30 AM ET

Company Participants

Matt Johnson - President, Chief Executive Officer

John Hollister - Senior Vice President, Chief Financial Officer

Giovanni Pacelli - Senior Director, Finance

Conference Call Participants

Matt Ramsay - Cowen

Gary Mobley - Wells Fargo Securities

Tore Svanberg - Stifel

Raji Gill - Needham & Co.

Blayne Curtis - Barclays

Operator

Good morning everyone. My name is Jamie and I’ll be your operator today.

Welcome to the Silicon Labs fourth quarter 2022 earnings release conference call. All participants are in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today’s presentation, there will be an opportunity to ask questions. To ask a question, you may press star and then one. To withdraw your questions, you may press star and two.

Please also note today’s event is being recorded.

At this time, I’d like to turn the floor over to Giovanni Pacelli, Silicon Labs’ Senior Director of Finance. Giovanni, please go ahead.

Giovanni Pacelli

Thank you Jamie and good morning everyone. We are recording this meeting and a replay will be available for four weeks on the Investor Relations section of our website at silabs.com/investors. Our earnings press release and the accompanying financial tables are also available on our website.

Joining me today are Silicon Labs’ President and Chief Executive Officer, Matt Johnson, and Chief Financial Officer, John Hollister. They will discuss our fourth quarter financial performance and review recent business activities.

We will take questions after our prepared comments, and our remarks today will include forward-looking statements subject to risks and uncertainties. We base these forward-looking statements on information available to us as of the date of this conference call and assume no obligation to update these statements in the future. We encourage you to review our SEC filings which identify important risk factors that could cause actual results to differ materially from those contained in any forward-looking statements.

Additionally during our call today, we will refer to certain non-GAAP financial information. A reconciliation of our GAAP to non-GAAP results is included in the company’s earnings press release and on the Investor Relations section of the Silicon Labs website.

I’ll now turn the call over to Silicon Labs’ Chief Executive Officer, Matt Johnson. Matt?

Matt Johnson

Thanks Giovanni, and good morning everyone.

At our analyst day last March, I spoke about our singular focus on the IoT market and my confidence in our ability to lead and scale in this large and fast-growing market. In 2022, our strategy took hold. We achieved strong gains in market share and our growth accelerated. We surpassed $1 billion in revenue for the first time, which is a great milestone for the company. More importantly, in just two years, we’ve doubled our revenue organically and have significantly improved our profitability and earnings per share. I’m incredibly proud of the team for these achievements.