Silicon Labs Reports Third Quarter 2023 Results

 

Non-GAAP Financial Measurements

In addition to the GAAP results provided throughout this document, Silicon Labs has provided non-GAAP financial measurements on a basis excluding non-cash and other charges and benefits.  Details of these excluded items are presented in the tables below, which reconcile the GAAP results to non-GAAP financial measurements.

The non-GAAP financial measurements do not replace the presentation of Silicon Labs' GAAP financial results.  These measurements provide supplemental information to assist management and investors in analyzing Silicon Labs' financial position and results of operations. Silicon Labs has chosen to provide this information to investors to enable them to perform meaningful comparisons of past, present and future operating results and as a means to emphasize the results of core on-going operations.

Unaudited Reconciliation of GAAP to Non-GAAP Financial Measures
(In thousands, except per share data)




Three Months Ended

September 30, 2023

Non-GAAP Income Statement Items


GAAP

Measure


GAAP

Percent of Revenue


Stock Compensation Expense


Intangible Asset Amortization


Termination Costs


Non-GAAP

Measure


Non-GAAP

Percent of
Revenue

Revenues


$203,760




























Gross profit


119,025


58.4 %


$192


$        --


$18


$119,235


58.5 %
















Research and development


79,042


38.8 %


8,598


6,239


269


63,936


31.4 %
















Selling, general and administrative


27,766


13.6 %


(3,000)


19


8


30,739


15.1 %
















Operating income


12,217


6.0 %


5,790


6,258


295


24,560


12.1 %






Three Months Ended

September 30, 2023

Non-GAAP Earnings Per Share


GAAP

Measure


Stock

Compensation Expense*


Intangible Asset Amortization*


Termination Costs*


Equity-Method

Investment Adjustments*


Income

Tax

Adjustments


Non-

GAAP

Measure

Net income


$10,348


$5,790


$6,258


$295


$60


$(2,778)


$19,973
















Diluted shares outstanding


32,078












32,078
















Diluted earnings per share


$0.32












$0.62



*

Represents pre-tax amounts


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