Synaptics (SYNA) Q4 2025 earnings summary

Executive summary

• Fiscal 2025 revenue grew 12% year-over-year to $1.074 billion, driven by 53% growth in Core IoT product sales, which now represent about a quarter of total sales.

• Q4 2025 revenue was $282.8 million, up 14% year-over-year and 6% sequentially, with Core IoT revenue surging 55% year-over-year and 25% sequentially.

• Non-GAAP diluted EPS for Q4 was $1.01, up 58% year-over-year; full-year non-GAAP EPS was $3.62, up 61% year-over-year.

• New Wi-Fi 7 and Edge AI-native Astra processors are gaining traction, with initial Astra revenue expected in 2H 2026; significant design win secured with a leading audio OEM.

• Board authorized a new $150 million share repurchase program in August 2025, following $128 million in buybacks during the year.

Financial highlights

• Fiscal 2025 non-GAAP gross margin was 53.6%; Q4 non-GAAP gross margin was 53.5%.

• Fiscal 2025 non-GAAP net income was $143.9 million ($3.62 per share), up 61% year-over-year; Q4 non-GAAP net income was $39.5 million.

• Q4 non-GAAP operating margin was 16.5%, up 208 basis points year-over-year.

• Cash from operations in fiscal 2025 was $142 million; Q4 cash flow from operations was $57 million.

• Ended Q4 with $452.5 million in cash and equivalents; repurchased $128 million in shares during the year.

Outlook and guidance

• Q1 2026 revenue expected at $290 million midpoint, with Core IoT projected at 32% of mix; Enterprise & Automotive at 53%, Mobile at 15%.

• Q1 2026 non-GAAP gross margin guidance is 53.5% midpoint; non-GAAP EPS expected at $1.05 midpoint.

• Guidance reflects improved order activity, backlog, and channel inventory levels, but remains subject to macroeconomic, trade, and tariff uncertainties.

• Long-term gross margin improvement expected as new Edge AI and wireless products ramp.