Silicon Labs Reports Third Quarter 2024 Results

Note to editors: Silicon Laboratories, Silicon Labs, the "S" symbol, and the Silicon Labs logo are trademarks of Silicon Laboratories Inc. All other product names noted herein may be trademarks of their respective holders. 

Silicon Laboratories Inc.

Condensed Consolidated Statements of Operations 

(In thousands, except per share data) 

(Unaudited)



Three Months Ended


Nine Months Ended


September 28,
2024


September 30,
2023


September 28,
2024


September 30,
2023

Revenues

$           166,395


$           203,760


$           418,137


$           695,413

Cost of revenues

76,082


84,735


196,172


278,753

Gross profit

90,313


119,025


221,965


416,660

Operating expenses:








Research and development

83,228


79,042


249,787


254,340

Selling, general and administrative

36,793


27,766


109,041


113,363

Operating expenses

120,021


106,808


358,828


367,703

Operating income (loss)

(29,708)


12,217


(136,863)


48,957

Other income (expense):








Interest income and other, net

3,487


2,938


9,009


15,554

Interest expense

(278)


(1,359)


(1,050)


(4,611)

Income (loss) before income taxes

(26,499)


13,796


(128,904)


59,900

Provision for income taxes

2,005


3,388


38,283


23,479

Equity-method loss


(60)



(1,150)

Net income (loss)

$            (28,504)


$             10,348


$         (167,187)


$             35,271









Earnings (loss) per share:








Basic

$                (0.88)


$                  0.33


$                (5.21)


$                  1.11

Diluted

$                (0.88)


$                  0.32


$                (5.21)


$                  1.07









Weighted-average common shares outstanding:








Basic

32,309


31,796


32,114


31,789

Diluted

32,309


32,078


32,114


32,919


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