Synaptics Inc

Latest Results (20.05.2026):

Synaptics Inc reported results for the third quarter of fiscal 2026 (Q3 FY2026), posting revenue of $294.2 million (up 10% year‑over‑year) driven by a 31% YoY increase in Core IoT product sales. The company recorded a GAAP net loss of $8.0 million (loss of $0.21 per share) while reporting non‑GAAP net income of $44.1 million (non‑GAAP diluted EPS $1.09). Management highlighted accelerating activity and additional design wins in Physical AI and robotics and gave guidance for Q4 FY2026 with continued revenue and non‑GAAP profit expectations.

Top‑line and product momentum

Revenue: $294.2M, +10% YoY. Core IoT product sales grew 31% YoY and are the primary driver of the quarter’s growth. Management cited multiple new design wins in Physical AI, Edge AI and robotics, and expects full‑year Core IoT revenue to grow >40% to over $385M based on current outlook.

GAAP vs. Non‑GAAP profitability

GAAP gross margin was 45.3% and GAAP net loss was $8.0M (-$0.21/share). On a non‑GAAP basis the company reported a 53.6% gross margin, $44.1M of net income and $1.09 non‑GAAP diluted EPS. Large adjustments include acquisition/integration costs and significant share‑based compensation that materially widen the GAAP → non‑GAAP gap.

Guidance and near‑term outlook

Q4 FY2026 guidance: revenue $305M ± $10M; projected non‑GAAP gross margin ~53.5% ± 1.0%; projected non‑GAAP EPS ~$1.20 ± $0.15 (company also shows non‑GAAP EPS components and exclusions). Management describes a healthy backlog and expects sequential and year‑over‑year revenue growth into the June quarter.

Balance sheet and cash flow

Cash & cash equivalents: $404.4M. Total assets: $2,522.4M; long‑term debt: $836.7M. Nine‑month operating cash flow provided $81.8M. Inventory and AR rose (Inventories $161.3M; Accounts receivable $162.5M). The company executed share repurchases (nine‑month repurchases shown at $82.6M).

Risks and important adjustments

Forward guidance is qualified by macroeconomic and geopolitical risks. Non‑GAAP results exclude items such as acquisition and integration costs, share‑based compensation, restructuring and other non‑cash items — these exclusions materially affect reported profitability and should be reviewed when comparing GAAP and non‑GAAP performance.