MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) Q3 2024 Earnings Call August 1, 2024 8:30 AM ET
Company Participants
Stephen Ferranti - Vice President, Investor Relations
Steve Daly - President and Chief Executive Officer
Jack Kober - Chief Financial Officer
Conference Call Participants
Harsh Kumar - Piper Sandler
Vivek Arya - Bank of America
Karl Ackerman - BNP Paribas
David Williams - Benchmark Company
Tore Svanberg - Stifel
Peter Peng - JPMorgan
Srini Pajjuri - Raymond James
Thomas O’Malley - Barclays
Richard Shannon - Craig-Hallum
Operator
Welcome to MACOM’s Third Fiscal Quarter 2024 Conference Call. This call is being recorded today, Thursday, August 1, 2024. [Operator Instructions] I will now turn the call over to Mr. Ferranti, MACOM’s Vice President of Corporate Development and Investor Relations. Mr. Ferranti, please go ahead.
Stephen Ferranti
Thank you, Olivia. Good morning, and welcome to our call to discuss MACOM’s financial results for the third fiscal quarter of 2024. I would like to remind everyone that our discussion today will contain forward-looking statements which are subject to certain risks and uncertainties as defined in the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those discussed today. For a more detailed discussion of the risks and uncertainties that could result in those differences, we refer you to MACOM’s filings with the SEC.
Management’s statements during this call will also include discussion of certain adjusted non-GAAP financial information. A reconciliation of GAAP to adjusted non-GAAP results are provided in the company’s press release and related Form 8-K, which was filed with the SEC today.
With that, I’ll turn over the call to Steve Daly, President and CEO of MACOM.
Steve Daly
Thank you and good morning. I will begin today’s call with a general company update. After that, Jack Kober, our Chief Financial Officer, will review our Q3 results. When Jack is finished, I will provide revenue and earnings guidance for fiscal Q4 and then we will be happy to take some questions.
Revenue for the third quarter of fiscal 2024 was $190.5 million and adjusted EPS was $0.66 per diluted share. During the quarter, we generated over $40 million of free cash flow, and we ended the quarter with approximately $521 million in cash and short-term investments on our balance sheet. Our business remains healthy and profitable, and we continue to generate strong cash flow while investing in future growth opportunities.