Synaptics Incorporated reported its financial results for the third quarter of fiscal 2025, ended March 29, 2025, on May 8, 2025. Net revenue for the quarter was $266.6 million, an increase of 12.3% compared to $237.3 million in Q3 FY24, marking the fourth consecutive quarter of year-over-year growth.
The GAAP net loss for the quarter was $21.8 million, or $0.56 per basic share, while non-GAAP net income was $35.3 million, or $0.90 per diluted share, exceeding the midpoint of guidance. Core IoT products were the primary driver, growing 42.7% year-over-year to $67.5 million and accounting for 25.3% of total revenue, marking the fifth consecutive quarter of sequential improvement.
Non-GAAP gross margin was 53.5%, and the company generated $74 million in cash flow from operations. For the fourth quarter of fiscal 2025, Synaptics provided guidance projecting net revenue of approximately $280 million at the midpoint, a non-GAAP gross margin of 53.5% (±1%), and non-GAAP EPS of $1.00 (±$0.20), reflecting expectations of continued sequential and year-over-year revenue growth.
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