Lattice Semiconductor Corporation Q1 FY2026 earnings call

Ford Tamer noted first quarter performance exceeded expectations with 42% y-o-y revenue growth and strong second quarter outlook. Planned acquisition of AMI, a leader in firmware, orchestration, and system-level manageability, creates industry's most complete secure management and control platform. Lorenzo A. Flores provided first quarter financial overview, second quarter guidance, and details on AMI acquisition including total consideration of $1.65 billion.

Revenue for the first quarter was $170.9 million, representing 42% year-over-year growth. Compute and communications end market achieved record revenue, with 62% of revenue from compute and communications products. Industrial and embedded end market revenue grew more than 20% sequentially. Second quarter revenue guidance at midpoint is $185 million, nearly 50% year-over-year growth.

First quarter revenue $170.9M. Second quarter revenue guidance midpoint $185M, nearly 50% y-o-y growth. Midpoint non-GAAP EPS $0.44, ~80% y-o-y growth. Anticipate AMI acquisition to make revenue exceed $1 billion annual run rate by end of 2026.

Actual results may differ materially from forward-looking statements due to risk factors in SEC filings. Supply chain constraints could pose challenges.

Q: Ruben Roy asked about SAM expansion and revenue mix.

A: Ford Tamer said total SAM to double, server ~38% of revenue, AI ~25% in 2026.

Q: Christopher Rolland asked about AMI strategic value and inventory.

A: Ford Tamer talked about AMI's complementary role, Lorenzo A. Flores said channel inventory no longer an issue.