Semtech Corporation (NASDAQ:SMTC) Q3 2025 Earnings Conference Call November 25, 2024 5:00 PM ET

Company Participants

Mark Lin - Executive Vice President & Chief Financial Officer
Hong Hou - President & Chief Executive Officer

Conference Call Participants

Quinn Bolton - Needham & Company
Harsh Kumar - Piper Sandler
Cody Acree - The Benchmark Company
Tore Svanberg - Stifel
Tristan Gerra - Baird
Scott Searle - Roth Capital Partners
Craig Ellis - B. Riley Securities
Christopher Rolland - Susquehanna International Group

Operator

Good day, and thank you for standing by. Welcome to Semtech Corporation's Third Quarter 2025 Earnings Conference Call. At this time, all participants are in a listen-only mode. After management's remarks, there will be a question-and-answer session. Please be advised that today's conference call is being recorded.

I would now like to hand the conference over to Mark Lin, Executive Vice President and Chief Financial Officer. Please go ahead.

Mark Lin

Thank you, operator. Good day, everyone, and welcome. I am pleased to be joined today by Hong Hou, President and Chief Executive Officer.

Today, after market close, we released our unaudited results for the third quarter of fiscal year 2025, which are posted along with an earnings call presentation to our investor website at investors.semtech.com.

Today's call will include various remarks about future expectations, plans, and prospects, which comprise forward-looking statements. Please refer to today's press release and see Slide 2 of the earnings presentation, as well as the Risk Factors section of our most recent Annual Report on Form 10-K for information on risk factors that could cause our actual results to differ materially from those made on this call.

Unless otherwise noted, all income statement-related financial measures will be non-GAAP other than net sales. Please refer to today's press release and see Slide 3 of the earnings presentation for important information regarding notes to our non-GAAP financial presentation. The press release and earnings presentation also include reconciliations of our GAAP and non-GAAP financial measures.

With that, I will turn the call over to Hong.

Hong Hou

Thank you, Mark. Good afternoon, everyone.

I'm almost six months into my tenure as Semtech's CEO and it has been a very productive period. My numerous engagements with Semtech employees, customers, suppliers and partners and the operational and financial progress we have made so far give me high confidence in Semtech's near- and long-term growth prospects.

We achieved a very strong Q3 results, with net sales, gross margin and EPS at the high end of our guidance range, while operating income and operating margin exceeded the high end of our guidance range. Further, our Q4 outlook projects continued growth in each of these metrics.