Synaptics Stock Earnings Reports

Key points for investors: Synaptics reported fiscal Q1 2026 revenue of $292.5M (up 14% YoY) and non‑GAAP EPS of $1.09 (up 35% YoY). Core IoT was the growth engine, with Core IoT revenue up 74% YoY and driving broad-based strength in processors and wireless connectivity. Management launched the Astra SL2600 family (AI‑native Edge processors) and reported early design wins and customer sampling; initial revenue from Astra is expected in H2 calendar 2026 with broader ramp into 2027. The company is partnering with Google Research (integrating Coral NPU) and emphasizing an open‑source software approach for Edge AI. Wireless roadmap (including Wi‑Fi 7 and a future monolithic MCU + wireless + AI die) remains on schedule; the MCU+combo chip will sample in H2 calendar 2026 with potential revenues expected in H2 calendar 2027. Enterprise & Automotive was flat YoY (enterprise improving, automotive soft); Mobile Touch was softer than expected due in part to supply constraints but has marquee design wins for next‑gen touch controllers (noting higher content for foldables). Balance sheet and cash flow: cash, equivalents and short‑term investments ~$459.9M; operating cash flow ~$30.2M; repurchases ~$15M year‑to‑date; inventories ~$143.1M. For Q2 FY26 the company guided to revenue of ~$300M (±$10M), non‑GAAP gross margin ~53.5% (±1%), non‑GAAP OPEX ~$106M (±$2M), and non‑GAAP EPS of ~$1.15 (±$0.15) on ~40.4M diluted shares. Management reiterated confidence in execution and a multi‑quarter growth trajectory (stating comfort with 25–30% growth for FY26 IoT).