Allegro Microsystems Files Q2 2024 10-Q

TL;DR

Allegro Microsystems (ALGM) filed its Q2 10-Q. Financials look steady, check retained earnings.

AI Summary

Allegro Microsystems, Inc. filed its 10-Q for the period ending September 27, 2024. The filing details financial performance and operational updates. Key financial figures and balance sheet items are presented, including retained earnings and accumulated other comprehensive income as of various dates in 2023 and 2024.

Why It Matters

This filing provides investors with an update on Allegro Microsystems' financial health and operational status for the second quarter of fiscal year 2025, impacting investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Numbers

• 2024-09-27 — Period End Date (Latest reporting period)
• 2023-03-31 — Fiscal Year End (Previous fiscal year end)
• 2024-06-28 — Retained Earnings Date (Balance sheet item)
• 2023-04-01 — Country Specific Period Start (China operations)

Key Players & Entities

• ALLEGRO MICROSYSTEMS, INC. (company) — Filer
• 0000950170-24-119808 (other) — Accession Number
• 20240927 (date) — Period of Report
• 20241101 (date) — Filing Date
• 001-39675 (other) — SEC File Number

FAQ

Key Financial Figures

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

Filing Documents

• algm-20240927.htm (10-Q) — 2229KB
• algm-ex10_5.htm (EX-10.5) — 35KB
• 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
• 0000950170-24-119808.txt ( ) — 8263KB
• algm-20240927.xsd (EX-101.SCH) — 1059KB
• algm-20240927_htm.xml (XML) — 1408KB

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 September 27, 2024 and March 29, 2024 (Unaudited) 3 Condensed Consolidated Statements of Operations for the three- and six-month periods ended September 27, 2024 and September 29, 2023 (Unaudited) 4 Condensed Consolidated Statements of Comprehensive (Loss) Income for the three- and six-month periods ended September 27, 2024 and September 29, 2023 (Unaudited) 5 Condensed Consolidated Statements of Changes in Equity for the three-and six-month periods ended September 27, 2024 and September 29, 2023 (Unaudited) 6 Condensed Consolidated Statements of Cash Flows for the six-month periods ended September 27, 2024 and September 29, 2023 (Unaudited) 8 Notes to Unaudited Condensed Consolidated Financial Statements 9 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 20 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 31 Item 4.

Controls and Procedures

Controls and Procedures 31 PART II. Other Information 32 Item 1.

Legal Proceedings

Legal Proceedings 32 Item 1A.

Risk Factors

Risk Factors 32 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32 Item 5. Other Information 32 Item 6. Exhibits 34

Signatures

Signatures 35 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) September 27, 2024 March 29, 2024 Assets Current assets: Cash and cash equivalents $ 188,751 $ 212,143 Restricted cash 10,287 10,018 Trade accounts receivable, net 76,985 118,508 Inventories 176,648 162,302 Prepaid income taxes 38,636 31,908 Prepaid expenses and other current assets 32,253 33,584 Current portion of related party notes receivable — 3,750 Total current assets 523,560 572,213 Property, plant and equipment, net 325,051 321,175 Operating lease right-of-use assets, net 22,343 20,374 Deferred income tax assets 61,839 54,496 Goodwill 203,151 202,425 Intangible assets, net 266,753 276,854 Related party notes receivable, less current portion — 4,688 Equity investment in related party 30,186 26,727 Other assets 59,234 51,651 Total assets $ 1,492,117 $ 1,530,603 Liabilities, Non-Controlling Interests and Stockholders' Equity Current liabilities: Trade accounts payable $ 50,245 $ 35,964 Amounts due to related party 5,546 1,626 Accrued expenses and other current liabilities 57,203 71,126 Current portion of operating lease liabilities 5,539 5,263 Current portion of long-term debt 5,475 3,929 Total current liabilities 124,008 117,908 Long-term debt 396,056 249,611 Operating lease liabilities, less current portion 17,674 16,404 Other long-term liabilities 15,671 14,964 Total liabilities 553,409 398,887 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 authorized, 183,983,240 shares issued and outstanding at Sep

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View this 10-Q filing on SEC EDGAR