Filing Flows › Semtech (SMTC) › Q1 FY27 › vs Q4 FY26
Semtech (SMTC) Q1 FY27 vs Q4 FY26 (quarter over quarter)
Semtech's revenue rose $16.7M (+6%) from $274M in Q4 FY26 to $291M in Q1 FY27. The biggest changes: Products +$15.8M (+6%); Services +$863K (+3%). Gross margin 52.0% against 50.4% (+1.6 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 Q4 FY26, the increases inside each band.
Margins
| Q1 FY27 | Q4 FY26 | Change | |
|---|---|---|---|
| Gross margin | 52.0% | 50.4% | +1.6 pts |
| Operating margin | 8.9% | -6.7% | +15.5 pts |
| Net margin | 9.1% | -10.9% | +20.0 pts |
| Free cash flow margin | 9.6% | 21.5% | -11.9 pts |
Every line
| Line | Q1 FY27 | Q4 FY26 | Change | % |
|---|---|---|---|---|
| Products | $265M | $249M | $15.8M | +6% |
| Services | $26.1M | $25.3M | $863K | +3% |
| Revenue | $291M | $274M | $16.7M | +6% |
| Gross profit | $151M | $138M | $13.2M | +10% |
| Cost of revenue | $140M | $136M | $3.5M | +3% |
| Other income, net | $884K | −$12.5M | $13.3M | — |
| Operating profit | $25.8M | −$18.3M | $44.1M | — |
| Operating expenses | $126M | $157M | −$30.9M | -20% |
| Pre-tax earnings | $26.7M | −$30.7M | $57.4M | — |
| Research & development | $57.6M | $51.2M | $6.4M | +12% |
| SG&A | $66.6M | $59.8M | $6.8M | +11% |
| Other operating costs | $1.5M | $45.5M | −$44.0M | -97% |
| Net earnings | $26.6M | −$29.8M | $56.4M | — |
| Income tax | $112K | −$937K | $1.0M | — |
| Depreciation & amortization | $9.2M | $0 | $9.2M | — |
| Share-based compensation | $26.4M | $16.5M | $10.0M | +61% |
| Working capital & other | $26.0M | −$74.8M | $101M | — |
| Operating cash flow | $36.2M | $61.5M | −$25.3M | -41% |
| Free cash flow (OCF − capex) | $28.0M | $59.1M | −$31.0M | -53% |
| Capital expenditures | $8.2M | $2.4M | $5.7M | +236% |
Questions
How much did Semtech's revenue grow quarter over quarter in Q1 FY27?
Semtech's revenue rose $16.7M (+6%) from $274M in Q4 FY26 to $291M in Q1 FY27.
What drove Semtech's revenue change in Q1 FY27?
Products +$15.8M (+6%); Services +$863K (+3%).