SiLabs Q4 2023 results

29 February 2024 News

Silicon Labs has reported financial results for the fourth quarter, which ended 30 December 2023. Financial highlights for Q4 2023 included a total revenue of $87 million for this period, with its Industrial and Commercial sector accounting for $60 million of that, and its Home and Life division making up the balance.

Results on a GAAP basis indicated a gross margin for this period to be 50,6%. R&D; expenses amounted to $83 million, while SG&A; expenses were $34 million. A reported operating loss of $73 million resulted in a diluted loss per share of $2,19.

“Though the market environment remains volatile, with inventory corrections continuing across our end markets, we delivered top and bottom-line results ahead of expectations,” said Matt Johnson, president and chief executive officer at Silicon Labs. “We expect to return to sequential revenue growth, beginning in the first quarter, as our customers destock their inventories, design wins continue ramping to production, and bookings trends improve.”

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