Filing Flows › Semtech (SMTC) › Q1 FY27 › vs Q1 FY26
Semtech (SMTC) Q1 FY27 vs Q1 FY26 (year over year)
Semtech's revenue rose $40.0M (+16%) from $251M in Q1 FY26 to $291M in Q1 FY27. The biggest changes: Products +$41.1M (+18%); Services −$1.1M (-4%). Gross margin 52.0% against 52.3% (-0.2 pts).
Semtech, Q1 FY27: revenue $291M (+16% year over year), operating margin 8.9%, net earnings $26.6M, operating cash flow $36.2M. The chart draws each line against Q1 FY26, the increases inside each band.
Margins
| Q1 FY27 | Q1 FY26 | Change | |
|---|---|---|---|
| Gross margin | 52.0% | 52.3% | -0.2 pts |
| Operating margin | 8.9% | 14.3% | -5.5 pts |
| Net margin | 9.1% | 7.7% | +1.4 pts |
| Free cash flow margin | 9.6% | 10.4% | -0.8 pts |
Every line
| Line | Q1 FY27 | Q1 FY26 | Change | % |
|---|---|---|---|---|
| Products | $265M | $224M | $41.1M | +18% |
| Services | $26.1M | $27.3M | −$1.1M | -4% |
| Revenue | $291M | $251M | $40.0M | +16% |
| Gross profit | $151M | $131M | $20.2M | +15% |
| Cost of revenue | $140M | $120M | $19.8M | +17% |
| Other income, net | $884K | −$8.0M | $8.9M | — |
| Operating profit | $25.8M | $36.0M | −$10.2M | -28% |
| Operating expenses | $126M | $95.3M | $30.4M | +32% |
| Pre-tax earnings | $26.7M | $28.0M | −$1.3M | -5% |
| Research & development | $57.6M | $47.5M | $10.0M | +21% |
| SG&A | $66.6M | $46.4M | $20.2M | +43% |
| Other operating costs | $1.5M | $1.3M | $159K | +12% |
| Net earnings | $26.6M | $19.3M | $7.2M | +37% |
| Income tax | $112K | $8.7M | −$8.5M | -99% |
| Depreciation & amortization | $9.2M | $10.2M | −$1.0M | -10% |
| Share-based compensation | $26.4M | $6.8M | $19.6M | +287% |
| Working capital & other | $26.0M | $8.5M | $17.4M | +204% |
| Operating cash flow | $36.2M | $27.8M | $8.4M | +30% |
| Free cash flow (OCF − capex) | $28.0M | $26.2M | $1.8M | +7% |
| Capital expenditures | $8.2M | $1.6M | $6.5M | +395% |
Questions
How much did Semtech's revenue grow year over year in Q1 FY27?
Semtech's revenue rose $40.0M (+16%) from $251M in Q1 FY26 to $291M in Q1 FY27.
What drove Semtech's revenue change in Q1 FY27?
Products +$41.1M (+18%); Services −$1.1M (-4%).