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- **Core IoT Dominance**: 74% YoY growth in Core IoT, driving total revenue up 14% YoY to $292.5 million.
- **Astra Breakthrough**: Launch of Astra Edge AI processors with Google's Coral NPU, targeting Edge AI applications with early design wins.
- **Financial Strength**: Non-GAAP EPS of $1.09 (35% YoY growth), with Q2 guidance for $1.15 EPS and $300 million revenue.
- **Mobile Touch Momentum**: Design wins with top Android OEMs for foldable phones, with content doubling compared to current models.
- **Market Expansion**: Penetration into industrial and AR/VR markets with Astra's multimodal processing capabilities.

**【Management Opening Remarks】**
- Munjal Shah provided an overview of the call, emphasizing the company's focus on Edge AI and the availability of supplementary materials for investors.

**【CEO Summary Section】**
- **Revenue Growth**: Core IoT revenue grew 74% YoY, driven by processors and wireless connectivity. Total revenue increased 14% YoY to $292.5 million.
- **Astra Launch**: Launched next-gen Astra Edge AI processors (SL2600 series) with Torq AI and Coral NPU integration, targeting Edge AI applications like industrial vision and wearables.
- **Customer Traction**: Secured design wins for Astra, with sampling underway and initial revenue expected in H2 2026. Mobile Touch products achieved design wins with top Android OEMs for foldable phones.
- **Market Expansion**: Expanding into industrial and AR/VR markets with Astra's multimodal processing capabilities. Wireless connectivity roadmap includes Wi-Fi 7 solutions.

**【CFO Financial Commentary】**
- **Financial Highlights**: Non-GAAP EPS of $1.09 (35% YoY growth), gross margin of 53.2%, and net income of $43.3 million.
- **Q2 Guidance**: Revenue expected at $300 million midpoint, with Core IoT contributing 31% of revenue. Non-GAAP EPS projected at $1.15.
- **Balance Sheet**: Cash of $459.9 million, operating cash flow of $30.2 million, and $15 million in share buybacks.

**【Q&A Key Highlights】**
- **Astra Success Metrics**: CEO plans to provide updates on design wins and production timelines in future calls. Early traction suggests faster-than-expected adoption.
- **Supply Chain Challenges**: Mobile Touch revenue underperformance due to supply constraints, expected to improve in Q2.
- **Market Growth**: Enterprise segment recovery and share gains in PC products offset automotive softness. IoT revenue run rate exceeds $400 million annually.
- **Strategic Initiatives**: Semi-custom solutions for major customers and integration of wireless connectivity with AI in a single die for future products.

Synaptics Incorporated (SYNA) Q1 2026 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

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Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

SYNA

SYNA fundamentals

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