Semtech Corporation (SMTC) Income Statement
SMTC FY2026 at a glance
Fiscal year ended January 31, 2026 · U.S. dollarsSMTC revenue and net income
Where SMTC's revenue goes
FY2026Each bar shows an amount and its share of revenue. SMTC kept −3.8% of revenue as net income.
SMTC profit margins
SMTC growth rates
to FY2026| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +15.5% | +11.5% | +12.0% | +7.9% |
| Gross profit | +18.9% | +4.2% | +8.8% | +7.3% |
| Operating income | +116.6% | −5.6% | +12.3% | +22.1% |
| Net income | — | — | — | — |
| EPS (diluted) | +106.0% | −15.1% | −0.6% | +7.0% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
SMTC quarterly EPS vs estimates
Semtech beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: November 23, 2026 (estimate $0.85).
SMTC income statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.05B | $909.3M | $868.8M | $756.5M | $740.9M | $595.1M | $547.5M | $627.2M | $587.8M | $544.3M |
| Cost of revenue | $508.4M | $453.6M | $494.8M | $277.6M | $279.7M | $239.8M | $227.4M | $276.8M | $263.7M | $244.7M |
| Gross profit | $541.6M | $455.6M | $374.0M | $479.0M | $461.1M | $355.3M | $320.1M | $350.4M | $324.1M | $299.6M |
| Research & development | $196.3M | $170.9M | $186.4M | $155.9M | $147.9M | $117.5M | $107.4M | $109.0M | $104.8M | $102.5M |
| Sales, general & admin | $221.9M | $222.4M | $220.2M | $234.3M | $168.2M | $162.8M | $163.1M | $151.4M | $145.7M | $136.4M |
| Total operating expenses | $408.0M | $394.0M | $408.1M | $320.0M | $318.9M | $280.6M | $269.3M | $261.6M | $244.7M | $239.2M |
| Operating income | $133.6M | $61.7M | −$34.1M | $159.0M | $142.3M | $74.7M | $50.8M | $88.8M | $79.4M | $60.4M |
| Interest income | $2.5M | $2.3M | $3.1M | $5.8M | $1.5M | $2.5M | — | — | — | $205,000 |
| Interest expense | $40.0M | $89.6M | $106.0M | $15.5M | $6.0M | $5.3M | $9.1M | $9.2M | $8.0M | $9.0M |
| Income before taxes | −$20.6M | −$183.9M | −$1.04B | $78.7M | $141.2M | $63.3M | $44.7M | $70.0M | $59.6M | $73.1M |
| Income taxes | $19.8M | −$22.0M | $50.5M | $17.3M | $15.5M | $3.4M | $12.8M | $355,000 | $23.2M | $18.4M |
| Net income | −$40.4M | −$161.9M | −$1.09B | $61.4M | $125.7M | $59.9M | $31.9M | $69.6M | $36.4M | $54.7M |
| EBITDA | $65.7M | −$44.9M | −$851.1M | $131.1M | $182.5M | $110.5M | $90.4M | $138.4M | $128.4M | $107.4M |
| EPS (diluted) | $1.71 | $0.83 | $0.09 | $2.79 | $2.62 | $1.76 | $1.53 | $2.20 | $1.88 | $1.39 |
| Gross margin | 51.6% | 50.1% | 43.0% | 63.3% | 62.2% | 59.7% | 58.5% | 55.9% | 55.1% | 55.0% |
| Operating margin | 12.7% | 6.8% | −3.9% | 21.0% | 19.2% | 12.5% | 9.3% | 14.2% | 13.5% | 11.1% |
| Net margin | −3.8% | −17.8% | −125.7% | 8.1% | 17.0% | 10.1% | 5.8% | 11.1% | 6.2% | 10.0% |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $341.9M | $291.0M | $274.4M | $267.0M | $257.6M | $251.1M | $251.0M | $236.8M | $215.4M | $206.1M | $192.9M | $200.9M |
| Cost of revenue | $158.1M | $139.9M | $136.3M | $128.8M | $123.6M | $119.9M | $120.6M | $116.0M | $110.2M | $106.8M | $101.9M | $112.8M |
| Gross profit | $183.8M | $151.1M | $138.1M | $138.1M | $134.0M | $131.1M | $130.4M | $120.8M | $105.2M | $99.3M | $91.1M | $88.1M |
| Research & development | $60.6M | $57.6M | $51.2M | $49.2M | $48.2M | $47.5M | $46.7M | $42.6M | $40.1M | $41.6M | $41.5M | $46.9M |
| Sales, general & admin | $67.3M | $66.6M | $59.8M | $57.1M | $58.5M | $46.4M | $54.5M | $59.8M | $55.8M | $52.3M | $47.0M | $47.7M |
| Total operating expenses | $128.0M | $120.3M | $107.3M | $106.3M | $106.7M | $94.0M | $100.2M | $102.3M | $95.9M | $93.9M | $88.5M | $95.5M |
| Operating income | $55.8M | $30.8M | $30.8M | $31.8M | $27.3M | $37.2M | $30.2M | $18.5M | $9.3M | $5.4M | $2.6M | −$7.4M |
| Interest income | $915,000 | $888,000 | $834,000 | $790,000 | $529,000 | $369,000 | $800,000 | $527,000 | $433,000 | $542,000 | $734,000 | $574,000 |
| Interest expense | $2.0M | $1.9M | $1.8M | $26.2M | $5.2M | $6.7M | $13.4M | $23.4M | $31.4M | $26.0M | $25.7M | $31.1M |
| Income before taxes | $54.7M | $26.7M | −$30.8M | $4.5M | −$22.3M | $28.0M | $5.9M | −$3.6M | −$166.1M | −$20.2M | −$645.7M | −$38.6M |
| Income taxes | −$101.3M | $100,000 | −$900,000 | $7.3M | $4.8M | $8.7M | −$33.2M | $4.0M | $4.2M | $3.0M | −$3.3M | −$311,000 |
| Net income | $160.1M | $26.5M | −$29.8M | −$2.9M | −$27.1M | $19.3M | $39.1M | −$7.6M | −$170.3M | −$23.2M | −$642.4M | −$38.2M |
| EBITDA | $68.0M | $39.3M | −$17.4M | $42.2M | −$5.4M | $46.2M | $30.9M | $31.3M | −$120.4M | $17.8M | −$609.7M | $16.7M |
| EPS (diluted) | $0.51 | $0.51 | $0.44 | $0.48 | $0.41 | $0.38 | $0.40 | $0.26 | $0.11 | $0.06 | −$0.06 | $0.02 |
| Gross margin | 53.8% | 51.9% | 50.3% | 51.7% | 52.0% | 52.2% | 52.0% | 51.0% | 48.8% | 48.2% | 47.2% | 43.9% |
| Operating margin | 16.3% | 10.6% | 11.2% | 11.9% | 10.6% | 14.8% | 12.0% | 7.8% | 4.3% | 2.6% | 1.4% | −3.7% |
| Net margin | 46.8% | 9.1% | −10.9% | −1.1% | −10.5% | 7.7% | 15.6% | −3.2% | −79.1% | −11.2% | −332.9% | −19.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in SMTC's financial statements (latest annual report filed March 23, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
SMTC financial results
In fiscal year 2026 (ended January 31, 2026), Semtech reported revenue of $1.1 billion, up 15.5% from the year before. It had a net loss of $40.4 million, a net profit margin of −3.8%. Diluted earnings per share came to $1.71. Over five years revenue grew at an average rate of 12.0% a year.
See the SMTC stock overview for the latest quote and news, or the SMTC chart for price history and technical indicators.
SMTC income statement FAQ
What is Semtech's annual revenue?
Semtech reported total revenue of $1.1 billion for fiscal year 2026, which ended on January 31, 2026. That was up 15.5% from $909.3 million the previous year.
Is Semtech profitable?
No. Semtech reported a net loss of $40.4 million in fiscal 2026, a net profit margin of −3.8%; its operating margin was 12.7%.
What is Semtech's gross margin?
Semtech's gross margin was 51.6% in fiscal 2026: for every $100 of revenue, Semtech kept $52 after the direct cost of its products and services.
How much does Semtech spend on research and development?
Semtech spent $196.3 million on research and development in fiscal 2026, 18.7% of revenue.
How fast is Semtech growing?
Revenue grew 12.0% a year on average over the last five fiscal years, from $595.1 million to $1.1 billion.
What are Semtech's earnings per share?
Semtech earned $1.71 per diluted share in fiscal 2026, compared with $0.83 a year earlier.
When will Semtech report its next earnings?
Semtech is expected to report results for the quarter ending October 31, 2026 on November 23, 2026 after the market closes.
When does Semtech's fiscal year end?
Semtech's fiscal year ends in January. The latest annual report covers the year ended January 31, 2026 and was filed on March 23, 2026.