Q3 revenue up 10.4% to $294.2M; gross margin improves 190bp; $82.6M stock repurchased YTD

Filed May 7, 2026 · Period ending March 28, 2026 · Compared to 10-Q May 8, 2025 · ~2 min read

Key Changes

• high

  Q3 FY26 revenue rose 10.4% YoY to $294.2M, driven by Core IoT up 30.8% on higher units and ASP. Growth rate decelerated from prior year's 42.7% but absolute dollar contribution remained strong.

  MD&A: Revenue performance verify on EDGAR →
• high

  Gross margin improved 190bp to 45.3% from 43.4% YoY, driven by favorable product mix and lower amortization as acquired intangibles reached end of useful life, reversing prior year's 310bp decline.

  MD&A: Gross margin verify on EDGAR →
• high

  Company repurchased $82.6M of stock under its program in the nine months ended March 2026, returning $39.0M in Q3 alone. Cash declined $48.1M to $404.4M, reflecting buybacks and operations.

  MD&A: Cash position verify on EDGAR →