Semtech Q2 FY27: revenue +32.7% to $341.9M, net income $160.1M on tax benefit

Filed August 26, 2026 · Period ending July 26, 2026 · Compared to 10-Q Aug 26, 2025 · ~2 min read

Key Changes

• high

  Net income reached $160.1M ($1.59 diluted EPS) driven by a $112.4M non-cash tax benefit from releasing U.S. deferred tax asset valuation allowance, reflecting sustained profitability over three years and expected future earnings.

  MD&A: Income Taxes verify on EDGAR →
• high

  Operating income swung positive to $55.8M from a $16.2M loss YoY as operating expenses fell 15% (prior period included $42.0M goodwill impairment that did not recur) while gross margin expanded 170 bp to 53.8%.

  MD&A: Operating Results verify on EDGAR →
• high

  Data center sales drove $47.4M of infrastructure revenue growth (nearly double the prior year's $25.0M increase), reflecting accelerating AI and high-speed networking demand for Signal Integrity products.

  MD&A: Revenue by End Market verify on EDGAR →