Allegro Microsystems Files 10-Q for June 28, 2024

TL;DR

Allegro Microsystems 10-Q filed. Financials for Q ending 6/28/24 are in.

AI Summary

Allegro Microsystems, Inc. filed its 10-Q for the period ending June 28, 2024. The company reported its financial results, including details on its assets, liabilities, and equity. Specific financial figures and operational details are presented within the filing.

Why It Matters

This filing provides investors and analysts with the latest financial performance and position of Allegro Microsystems, crucial for understanding the company's health and future prospects.

Risk Assessment

Risk Level: medium — The filing contains standard financial disclosures for a public company, which inherently carry market and operational risks.

Key Numbers

• 2024-06-28 — End of Fiscal Quarter (Reporting period for the 10-Q filing.)
• 2024-03-30 — Start of Fiscal Quarter (Beginning of the reporting period.)
• 2023-04-01 — Prior Year Quarter Start (For comparative financial analysis.)
• 2023-06-30 — Prior Year Quarter End (For comparative financial analysis.)

Key Players & Entities

• ALLEGRO MICROSYSTEMS, INC. (company) — Filer
• 20240628 (date) — Period of Report
• 20240802 (date) — Filing Date
• 0000866291 (company) — Central Index Key
• 3674 (industry) — Standard Industrial Classification
• (603) 626-2300 (phone) — Business Phone

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share ALGM The Nasdaq Stock Mar

Filing Documents

• algm-20240628.htm (10-Q) — 1478KB
• algm-ex10_1.htm (EX-10.1) — 738KB
• algm-ex31_1.htm (EX-31.1) — 15KB
• algm-ex31_2.htm (EX-31.2) — 15KB
• algm-ex32_1.htm (EX-32.1) — 8KB
• algm-ex32_2.htm (EX-32.2) — 9KB
• 0000950170-24-089610.txt ( ) — 7603KB
• algm-20240628.xsd (EX-101.SCH) — 1005KB
• algm-20240628_htm.xml (XML) — 1112KB

Forward-Looking Statements

Forward-Looking Statements 2 PART I. Financial Information 3 Item 1. Condensed Consolidated Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets as of June 28, 2024 and March 29, 2024 (Unaudited) 3 Condensed Consolidated Statements of Operations for the three-month periods ended June 28, 2024 and June 30, 2023 (Unaudited) 4 Condensed Consolidated Statements of Comprehensive Income for the three-month periods ended June 28, 2024 and June 30, 2023 (Unaudited) 5 Condensed Consolidated Statements of Changes in Equity for the three-month periods ended June 28, 2024 and June 30, 2023 (Unaudited) 6 Condensed Consolidated Statements of Cash Flows for the three-month periods ended June 28, 2024 and June 30, 2023 (Unaudited) 7 Notes to Unaudited Condensed Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 24 Item 4.

Controls and Procedures

Controls and Procedures 25 PART II. Other Information 26 Item 1.

Legal Proceedings

Legal Proceedings 26 Item 1A.

Risk Factors

Risk Factors 26 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 26 Item 5. Other Information 26 Item 6. Exhibits 27

Signatures

Signatures 28 FORWARD-LO OKING STATEMENTS This Quarterly Report on Form 10-Q (the "Quarterly Report") contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements other than statements of historical facts contained in this Quarterly Report, including statements regarding our future results of operations and financial position, business strategy, prospective products and the plans and objectives of management for future operations, may be forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

– FINAN CIAL INFORMATION

PART I – FINAN CIAL INFORMATION

Condensed Con solidated Financial Statements (Unaudited)

Item 1. Condensed Con solidated Financial Statements (Unaudited) ALLEGRO MICROSYSTEMS, INC. CONDENSED CONSOLI DATED BALANCE SHEETS (in thousands, except par value and share amounts) (Unaudited) June 28, 2024 March 29, 2024 Assets Current assets: Cash and cash equivalents $ 173,136 $ 212,143 Restricted cash 11,041 10,018 Trade accounts receivable, net 63,358 118,508 Accounts receivable due from related party 39 207 Inventories 175,901 162,302 Prepaid income taxes 29,411 31,908 Prepaid expenses and other current assets 33,647 33,377 Current portion of related party notes receivable 3,750 3,750 Total current assets 490,283 572,213 Property, plant and equipment, net 319,763 321,175 Operating lease right-of-use assets, net 20,423 20,374 Deferred income tax assets 59,589 54,496 Goodwill 202,292 202,425 Intangible assets, net 271,723 276,854 Related party notes receivable, less current portion 3,750 4,688 Equity investment in related party 26,270 26,727 Other assets 54,797 51,651 Total assets $ 1,448,890 $ 1,530,603 Liabilities, Non-Controlling Interests and Stockholders' Equity Current liabilities: Trade accounts payable $ 35,346 $ 35,964 Amounts due to related party 4,895 1,626 Accrued expenses and other current liabilities 58,702 71,126 Current portion of operating lease liabilities 5,183 5,263 Current portion of long-term debt 1,411 3,929 Total current liabilities 105,537 117,908 Long-term debt 202,589 249,611 Operating lease liabilities, less current portion 16,045 16,404 Other long-term liabilities 14,877 14,964 Total liabilities 339,048 398,887 Commitments and contingencies (Note 10) Stockholders' Equity: Preferred stock, $ 0.01 par value; 20,000,000 shares authorized, no shares issued or outstanding — — Common stock, $ 0.01 par value; 1,000,000,000 shares a

View Full Filing

View this 10-Q filing on SEC EDGAR