Q4 26 EPS
$0.44
Q4 26 Revenue
$274.4M
Full Year 2026 Results
FY 26 EPS
$1.71
FY 26 Revenue
$1.05B
Did SMTC Beat Earnings? Q4 2026 Results
Semtech capped a landmark fiscal year with a record fourth quarter, reporting Q4 FY2026 net sales of $274.40 million, up 9% year-over-year, and non-GAAP adjusted EPS of $0.44, as surging demand for data center interconnect technologies powered the co… Read more Semtech capped a landmark fiscal year with a record fourth quarter, reporting Q4 FY2026 net sales of $274.40 million, up 9% year-over-year, and non-GAAP adjusted EPS of $0.44, as surging demand for data center interconnect technologies powered the company's Signal Integrity segment to $90.70 million in revenue at a 67.4% gross margin. The quarter's headline numbers carried an asterisk on a GAAP basis, where a $42.80 million goodwill impairment charge pushed the company to a net loss of $29.80 million, but the underlying business momentum was difficult to ignore, with full-year net sales crossing $1.05 billion for the first time, up 15% from the prior year. Free cash flow of $59.10 million in Q4 alone exceeded the entirety of FY2025's free cash flow generation, underscoring the company's improving financial health. Looking ahead, Semtech guided Q1 FY2027 net sales of approximately $283.00 million and adjusted EPS of approximately $0.45, pointing to continued sequential growth as next-generation 800G and 1.6T networking transitions sustain demand.
Key Takeaways
- • Record net sales driven by data center build-out expansion
- • Signal Integrity segment revenue growth of 25% year-over-year in Q4 (from $72.5M to $90.7M)
- • Strong cash flow generation with Q4 operating cash flow and free cash flow exceeding all of FY25
- • Disciplined execution and leverage in financial model
SMTC Forward Guidance & Outlook
For Q1 FY2027, Semtech expects net sales of approximately $283.0 million +/- $5.0 million, adjusted gross margin of approximately 52.8% +/- 50 bps, total semiconductor products gross margin of approximately 60.4% +/- 50 bps, adjusted operating expenses of approximately $96.9 million +/- $1.0 million, adjusted operating income of approximately $52.5 million +/- $3.0 million, adjusted operating margin of approximately 18.6% +/- 70 bps, adjusted interest and other expense of approximately $0.5 million, adjusted normalized tax rate of 17%, adjusted diluted EPS of approximately $0.45 +/- $0.03, adjusted EBITDA of approximately $59.5 million +/- $3.0 million, and adjusted EBITDA margin of approximately 21.0% +/- 70 bps, with a non-GAAP diluted share count of approximately 96.6 million.
SMTC YoY Financials
Q4 2026 vs Q4 2025, source: SEC Filings
SMTC Revenue by Segment
With YoY comparisons, source: SEC Filings
“Fiscal year 2026 was a landmark year for Semtech, marked by strong revenue and earnings growth that reflect both the power of our portfolio and disciplined execution. We believe we are uniquely positioned as data center build out expands, with a broad set of solutions purpose-built for the 800G, 1.6T, and 3.2T era, and our continued investment in research and development positions us to remain at the forefront of next-generation optical and copper interconnect technologies. With a significantly stronger financial foundation, we have the flexibility to strategically pursue the investments that we believe accelerate the next chapter of Semtech's growth.”
— Hong Hou, Q4 2026 Earnings Press Release
SMTC Earnings Trends
SMTC vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
SMTC EPS Trend
Earnings per share: estimate vs actual
SMTC Revenue Trend
Quarterly revenue: estimate vs actual
SMTC Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 FY | — | $0.44 | — | $274.4M | — |
| FY Full Year | — | $1.71 | — | $1.05B | — |
| Q3 26 BEAT | $0.45 | $0.48 | +7.87% | $267.0M | +0.22% |
| Q2 26 BEAT | $0.40 | $0.41 | +2.17% | $257.6M | +0.60% |
| Q1 26 | — | $0.38 | — | $251.1M | — |
| Q4 25 FY | — | $0.40 | — | $251.0M | — |
| FY Full Year | — | $0.88 | — | $909.3M | — |