Want to see LSCC full AI Analyst Report?
EarningsQ2 2026 Earnings Report
LSCC Q2 2026 EPS Results
Actual EPS$0.53
Consensus EPS$0.45
Beat/MissBeat by +$0.09
One Year Ago EPS$0.24
LSCC Q2 2026 Revenue Results
Actual Revenue$201.08M
Expected Revenue$185.50M
Beat/MissBeat by +$15.58M
YoY Revenue Growth+62.20%
Earnings Announcement Details
QuarterQ2 2026
Date08/04/2026
TimeAfter Close
Conference CallTuesday, August 4, 2026
LSCC Upcoming Earnings
Lattice Semiconductor's next earnings date is estimated for November 2, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
LSCC Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive overall: record revenue, outsized profitability and cash flow, a transformative acquisition (AMI) with attractive margins and revenue run-rate, strong backlog and design-win momentum, and ambitious long-term targets. Near-term headwinds include assembly-side supply constraints, transitory AMI low-margin hardware revenue that will depress Q3 gross margin, elevated OpEx as the company invests for growth, and short-term leverage from acquisition financing. Management provided detailed guidance and mitigation plans (capacity agreements, divestiture of non-core AMI hardware) and expects accretion to EPS beginning in Q4, indicating confidence that the positives materially outweigh the transitory challenges.Company Guidance
Record Quarterly Revenue
Q2 revenue of $201.0M, a record for the company, representing +18% sequential growth and +62% year-over-year.
Compute & Communications Outperformance
Compute & Communications reached a record level with revenue up +18% sequentially and +83% year-over-year, driven by strong data-center AI demand, rising FPGA attach rates and higher ASPs on new, more secure products.
Industrial & Embedded Recovery
Industrial & Embedded revenue increased sequentially (management cited +17% Q/Q) and +36% year-over-year, with momentum across industrial automation, aerospace & defense, medical, robotics and emerging physical AI applications.
Strong Profitability and Operating Leverage
Q2 non-GAAP EPS of $0.53, up >120% year-over-year and +29% quarter-over-quarter; non-GAAP gross margin 71.7% (up 170 bps Q/Q, 240 bps Y/Y); non-GAAP operating margin 38.3% (expanded 390 bps Q/Q); EBITDA margin 43% (up 340 bps Q/Q).
Robust Cash Generation
GAAP operating cash flow of $88.3M (vs $50.3M in Q1); free cash flow of $81.3M with a 40.4% FCF margin (improved from $39.7M and 23.2% in Q1).
AMI Acquisition Closed and Strategic Rationale
Closed AMI acquisition (purchase price $1.0B cash + 5.2M shares). AMI expected to be a >$200M revenue run rate exiting 2026 with gross margins >75% and EBITDA margins >40%; management expects the combination to roughly double addressable market and create cross-selling synergies.
Raised Near-Term Revenue Run-Rate
Including two months of AMI in Q3 guidance, midpoint combined revenue guidance implies >$1.0B annualized run rate; Q3 combined revenue guidance range $245M–$265M (FPGA standalone guidance $210M–$230M; AMI partial-quarter $33M–$37M).
Aggressive Forward Guidance and Long-Term Goal
Q3 midpoint EPS guidance $0.56 (~100% Y/Y growth); management reiterates multi-year growth thesis and aspirational $3.0B revenue target by 2030, with expected EPS accretion from AMI beginning in Q4.
Product and Share Momentum
New products expected to exceed prior target of 20%–25% of revenue (management now expects >25%), and management highlighted expanding design wins and extended backlog visibility into 2027.
LSCC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed