Filing Flows › Semtech (SMTC) › Q3 FY26
Semtech (SMTC) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Nov 25, 2025
Semtech (SMTC) reported revenue of $267M for the third quarter fiscal 2026 (Q3 FY26), +13% from a year earlier and +4% from the quarter before. Operating margin was 11.6%, net loss $2.9M (1.1% of revenue).
Semtech, Q3 FY26: revenue $267M (+13% year over year), operating margin 11.6%, net loss $2.9M, operating cash flow $47.5M. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $267M | +4% | +13% |
| Operating profit | $31.1M | — | — |
| Net earnings | −$2.9M | — | — |
| Operating cash flow | $47.5M | +7% | +60% |
| Free cash flow | $44.6M | +8% | +53% |
What changed
Revenue was $267.0M in Q3 FY26, up 13% year over year and up 4% from the previous quarter. Products was the largest line at 90% of revenue. Products added $31.8M year over year (up 15%), 106% of the total change. Services declined 6%.
Gross margin was 51.9%, up 0.8 points from a year earlier. Operating profit was $31.1M, a 11.6% margin (up 4.1 points year over year). Of the extra revenue versus a year earlier, 44% reached operating profit, above the 8% margin then. Operating expenses grew 4% against revenue growth of 13%. The fastest-growing cost line was Research & development (+16%). The quarter ended with a net loss of $2.9M, narrower than the previous quarter's $27.1M loss. Net interest and other expense of $26.6M was the main reason.
Operating cash flow was $47.5M (up 60% year over year). Non-cash charges added back $10.1M of depreciation and amortization and $17.1M of share-based compensation. Working capital and other items added $23.1M. Capital expenditures of $2.8M left free cash flow of $44.6M.
Questions
What was Semtech's revenue in the third quarter fiscal 2026?
Semtech (SMTC) reported revenue of $267M for the third quarter fiscal 2026 (Q3 FY26), +13% from a year earlier and +4% from the quarter before.
Was Semtech profitable in the third quarter fiscal 2026?
Operating profit was $31.1M (11.6% of revenue) and net loss $2.9M.
Source: Semtech 10-Q on SEC EDGAR.