Strong Revenue Growth
Silicon Labs reported revenue of $178 million for the March quarter, a 7% sequential increase and a 67% year-over-year increase.
Significant Growth in Home & Life Segment
The Home & Life segment nearly doubled its revenue year-over-year with a growth rate of 99%.
Robust Industrial & Commercial Performance
Industrial & Commercial segment revenue was $96 million, up 8% sequentially and 47% year-over-year.
Improvement in Gross Margins
Non-GAAP gross margin improved to 55.4%, up from the prior quarter and ahead of forecasts.
Innovative Product Launches
Launch of BG29, BG22L, BG24L, and MG26 SoCs, showcasing advancements in Bluetooth, security, and AI/ML capabilities.
Positive Cash Flow
Despite an operating loss, Silicon Labs recorded a positive operating cash flow of $48 million.