Lattice Semiconductor Reports Second Quarter 2025 Results

Lattice Semiconductor Corporation, a leader in low power programmable solutions, has released its financial results for the fiscal second quarter ending June 28, 2025. The company reported a revenue of $124.0 million, with a GAAP gross margin of 68.4% and a GAAP net income of $0.02 per diluted share. On a non-GAAP basis, the gross margin was 69.3%, with a net income per diluted share of $0.24.

Financial Highlights

For the second quarter of 2025, Lattice Semiconductor reported:

• Revenue: $124.0 million
• GAAP Gross Margin: 68.4%
• GAAP Net Income: $2.9 million
• GAAP Net Income per Diluted Share: $0.02
• Non-GAAP Gross Margin: 69.3%
• Non-GAAP Net Income per Diluted Share: $0.24
• Adjusted EBITDA: $42.2 million (34.1% margin)
• GAAP Net Cash Flow from Operating Activities: $38.5 million
• Free Cash Flow: $31.3 million (25.2% margin)

Business and Operational Highlights

CEO Ford Tamer highlighted the company's strong performance, noting broad-based growth across key financial metrics and record design wins. The communications and computing markets remain solid, with normalized channel inventory and continued strength expected into 2026. The industrial and automotive markets are recovering as anticipated, with channel inventory levels showing signs of further improvement.

Strategic Initiatives and Corporate Developments

• Mitsubishi Electric Collaboration: Partnering to power next-gen factory automation with CertusPro™-NX FPGAs.
• Expanded Small FPGA Portfolio: Launched new high I/O density Lattice Certus™-NX and Lattice MachXO5™-NX FPGA devices.
• Consistent Capital Allocation: Repurchased common stock valued at $71 million through the first six months of 2025.
• Successful APAC Tech Summit: Hosted a major summit in Tokyo featuring keynotes from Lattice customers and technology demonstrations.
• Industry Awards: Received multiple awards including "AI Edge Solution of the Year" at the 2025 AI Breakthrough Awards.

Management's Perspective

CEO Ford Tamer stated, "We delivered another strong quarter, with broad-based growth across key financial metrics and record design wins. Communications and computing markets remain solid, with normalized channel inventory and continued strength expected into 2026. Industrial and automotive markets are recovering as anticipated, with channel inventory levels showing signs of further improvement."

CFO Lorenzo Flores added, "We grew revenue, gross margin, and profitability sequentially, including adjusted EBITDA at 34.1%. We remain focused on driving growth in our business and expanding shareholder value through disciplined investments in our product roadmap, revenue generation, and customer support."

Future Outlook

For the third quarter of 2025, Lattice Semiconductor expects:

• Revenue: Between $128 million and $138 million
• Non-GAAP Gross Margin: 69.5% plus or minus 1%
• Total Operating Expenses: Between $52 million and $54 million on a non-GAAP basis
• Income Tax Rate: Between 5% and 6% on a non-GAAP basis
• Net Income per Share: Between $0.26 and $0.30 on a non-GAAP basis

SEC Filing: LATTICE SEMICONDUCTOR CORP [ LSCC ] - 8-K - Aug. 04, 2025