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Lattice Semiconductor (LSCC) investor relations material
Lattice Semiconductor Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary3 Nov, 2025
Executive summary
Achieved Q3 2025 revenue of $133.3M, up 7.6% sequentially and 4.9% year-over-year, marking the highest in five quarters and driven by record Communications & Computing growth.
Non-GAAP earnings grew 17% quarter over quarter, with non-GAAP EPS up 29% in H2 2025 vs. H1 2025.
Industrial and Automotive segment showed sequential growth and is expected to normalize inventory by year-end.
Increased confidence in 2026 outlook, supported by strong bookings, design wins, and expanding AI adoption.
Net income for Q3 2025 was $2.8M, down from $7.2M in Q3 2024.
Financial highlights
Q3 2025 revenue: $133.3M, up 7.6% sequentially and 4.9% year-over-year.
Non-GAAP gross margin: 69.5%; GAAP gross margin: 67.9%.
Non-GAAP operating margin: 29%; EBITDA margin: 35.6%.
Non-GAAP EPS: $0.28; GAAP EPS: $0.02.
Operating cash flow: $47.1M (35.4% margin); free cash flow: $34M (25.5% margin).
Outlook and guidance
Q4 2025 revenue expected between $138M–$148M, with midpoint representing 22% year-over-year growth.
Q4 non-GAAP gross margin expected at 69.5% ±1%; non-GAAP operating expenses between $54M–$56.5M.
Non-GAAP EPS guidance for Q4 is $0.30–$0.34.
2026 revenue growth expected to be strong, led by comms and compute, with industrial and auto returning to mid-single to 15% growth.
Management expects AI-related revenue to grow over the next few years, supported by a strong pipeline of design wins.
What caused the GAAP operating loss in Q3 2025?
How will inventory normalization affect Q4 outlook?
What is driving the shift to direct channel sales?
How does 60% CNC revenue impact risk profile?
Why conservative I&A growth post-inventory clear?
Future product strategy beyond FPGA core?
What drives 2026 Comms & Compute growth acceleration?
Why is 2026 the year of Nexus, 2027 Avant?
What are the catalysts for gross margin expansion?
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Next Lattice Semiconductor earnings date
Q4 202512 Feb, 2026
Next Lattice Semiconductor earnings date
Q4 202512 Feb, 2026
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Frequently asked questions
Lattice Semiconductor Corp designs and manufactures low-power, field-programmable gate arrays (FPGAs) and related software solutions. The company serves applications in communications, computing, industrial, automotive, and consumer electronics markets. The company is headquartered in Hillsboro, Oregon, and its shares are listed on the NASDAQ.
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