Silicon Labs has released financial results for the first quarter, which ended 1 April 2023. Revenue met the mid-point of the guidance range at $247 million, up 6% year-on-year, driven in part by strength across the company’s Bluetooth portfolio.
“The Silicon Labs team executed well in the first quarter, furthering our leadership position within IoT through deep customer and industry relationships,” said Matt Johnson, president and chief executive officer at Silicon Labs. “With a challenging macro backdrop, we are focused on driving operational efficiencies, supporting new customer ramps, and investing in the people and products that will allow us to outperform the market and capture the exciting growth potential ahead.”
The company’s reported first quarter financial highlights:
• Revenue was $247 million, up 6% year-on-year.
• Industrial & Commercial revenue for the quarter was $151 million.
• Home & Life revenue for the quarter was $96 million.
• Gross margin was 62,3%.
The company also made a few announcements, starting with the general availability for its flagship FG25 sub-GHz SoC. The FG25 is ideal for long-range, low-power communications, capable of broadcasting more than 1 km with minimal data loss in dense, urban environments. With Wi-SUN certification, the FG25 also supports high data bandwidth of up to 3,6 Megabits per second, which is critical for enabling the large networks needed by smart cities where the nodes can number in the thousands.
Also announced was the new integrated circuit family designed for the smallest form factor IoT devices: the xG27 family of Bluetooth SoCs. The xG27 family offers IoT device designers the energy efficiency, high performance, security, and wireless connectivity ideal for tiny, battery-optimised devices.
Thirdly, the company announced the availability of its Pro Kit for Amazon Sidewalk, which has been developed to simplify the development process, reduce costs, and accelerate time to revenue for Amazon Sidewalk devices. As one of Amazon Sidewalk’s only three qualified hardware partners for developing Amazon Sidewalk devices, the Pro Kit provides all the necessary tools for developing high-volume, scalable IoT applications. It is also designed to support the development of wireless IoT-based devices on Bluetooth and sub-GHz wireless protocols for Amazon Sidewalk.
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