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• Annual Revenue 2024: $584 million, a year-over-year decline of approximately 25%.

• Q4 Revenue: $166 million, up 91% from the lowest trough point in Q4 2023.

• Industrial and Commercial Revenue Q4: $89 million, down 8% sequentially, up approximately 50% year over year.

• Home & Life Revenue Q4: $78 million, up 11% sequentially, nearly threefold year over year.

• GAAP Operating Loss Q4: $29 million, improved from $73 million loss in the same quarter one year ago.

• GAAP Gross Margin Q4: 54.3%.

• Non-GAAP Gross Margin Q4: 54.6%.

• GAAP Operating Expenses Q4: $119 million.

• Non-GAAP Operating Expenses Q4: $98 million.

• GAAP Loss Per Share Q4: $0.73.

• Non-GAAP Loss Per Share Q4: $0.11.

• Cash and Equivalents: $382 million at the end of the quarter.

• Operating Cash Flow Q4: $10 million.

• Days of Inventory on Hand: Improved to 125 days from 165 days in the previous quarter.

• Q1 2025 Revenue Outlook: $170 million to $185 million, implying 67% year-over-year growth at the midpoint.

• Q1 2025 GAAP Gross Margin Outlook: 54% to 56%.

• Q1 2025 Non-GAAP Gross Margin Outlook: 54% to 56%.

• Q1 2025 GAAP Loss Per Share Outlook: $0.75 to $1.05 loss.

• Q1 2025 Non-GAAP Earnings Per Share Outlook: $0.01 to a loss of $0.19.

• Warning! GuruFocus has detected 7 Warning Signs with SLAB.

Release Date: February 04, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Silicon Laboratories Inc (NASDAQ:SLAB) reported a 91% increase in revenue from the lowest point in the previous year, indicating a strong recovery.

• The company has seen significant growth in its Home & Life business, with revenue up nearly threefold year over year, driven by new program ramps in medical applications.

• Silicon Laboratories Inc (NASDAQ:SLAB) is well-positioned in the smart metering market, particularly in India, where it has begun shipping millions of units.

• The company has secured more 154 design wins since the release of the matter spec than in the prior five years combined, indicating strong momentum in this area.

• Silicon Laboratories Inc (NASDAQ:SLAB) has a strong pipeline for its new Wi-Fi 6 device, which has generated the largest offering pipeline for any product the company has released.

Negative Points

• Silicon Laboratories Inc (NASDAQ:SLAB) experienced a 25% year-over-year decline in revenue for fiscal year 2024, with a significant 32% decline in industrial and commercial products.

• The company reported a GAAP operating loss of $29 million for the fourth quarter, although this was an improvement from the previous year's loss.

• Inventory levels in the distribution channel remain below the company's target, with only a slight increase in the December quarter.

• Silicon Laboratories Inc (NASDAQ:SLAB) faces limited visibility due to high levels of short lead-time orders, which could impact future growth projections.

• The company continues to experience some excess inventory at end customers, although it is no longer the primary factor affecting expectations.