Synaptics Incorporated reported its financial results for the first quarter of fiscal 2025, ended September 28, 2024, on November 7, 2024. The company announced net revenue of $257.7 million, marking a sequential and year-over-year increase.
The GAAP net loss for the quarter was $23.1 million, or $0.58 per basic share, while non-GAAP net income reached $32.5 million, or $0.81 per diluted share. Core IoT products demonstrated significant strength, growing 55% year-over-year and achieving double-digit sequential growth for three consecutive quarters.
Management stated that inventory headwinds are significantly reduced, and new designs are beginning to ramp, creating opportunities for share gains. For the second quarter of fiscal 2025, Synaptics expects continued sequential revenue growth, supported by a strong balance sheet and ongoing growth initiatives.
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