Silicon Laboratories, Inc. (NASDAQ:SLAB) Q3 2022 Earnings Conference Call October 26, 2022 8:30 AM ET

Company Participants

Giovanni Pacelli - Senior Director of Finance

John Hollister - Chief Financial Officer

Matt Johnson - President and Chief Executive Officer

Austin Dean - Investor Relations

Conference Call Participants

Matthew Ramsay - Cowen

Gary Mobley - Wells Fargo Securities

Blayne Curtis - Barclays

Rajvindra Gill - Needham & Company

Jeremy Kwan - Stifel Nicholas

Operator

Good day, everyone. My name is Jamie, and I'll be your conference operator today. Welcome to Silicon Labs' Third Quarter Fiscal '22 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions]. 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. 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 third quarter financial performance and review the 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 would now like to turn the call over to Silicon Labs' Chief Financial Officer, John Hollister. John?

John Hollister

Thanks, Giovanni. Revenue for the third quarter grew 46% year-on-year, ending at $270 million, in line with expectations and well above our target model growth rate. During the quarter, we saw sequential growth in both business units, Industrial & Commercial and Home Life. Areas of particular strength for the quarter were in smart home applications and commercial automation. Geographically, Q3 revenue growth was strongest in the Americas, followed by Europe, then Asia Pacific. All regions grew in the quarter.