Silicon Laboratories Inc. Files 10-Q for Period Ending March 30, 2024

TL;DR

<b>Silicon Laboratories Inc. filed its quarterly 10-Q report for the period ending March 30, 2024.</b>

AI Summary

SILICON LABORATORIES INC. (SLAB) filed a Quarterly Report (10-Q) with the SEC on April 24, 2024. Silicon Laboratories Inc. reported financial results for the period ending March 30, 2024. The filing is a 10-Q, indicating a quarterly report. The company's fiscal year ends on December 30th. The filing was submitted on April 24, 2024. The company's principal executive offices are located in Austin, Texas.

Why It Matters

For investors and stakeholders tracking SILICON LABORATORIES INC., this filing contains several important signals. This 10-Q filing provides investors with an update on Silicon Laboratories' financial performance and position during the first quarter of 2024. Understanding the details within this report is crucial for assessing the company's current operational health and future prospects in the semiconductor industry.

Risk Assessment

Risk Level: low — SILICON LABORATORIES INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant deviations from typical reporting.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand the company's performance drivers and outlook.

Key Numbers

• 2024-03-30 — Reporting Period End Date (Conformed Period of Report)
• 2024-04-24 — Filing Date (As of Date)
• 12-28 — Fiscal Year End (Fiscal Year End)
• 2023-01-01 — Q1 2023 Start Date (Reporting period for Q1 2023)
• 2023-04-01 — Q1 2023 End Date (Reporting period for Q1 2023)

Key Players & Entities

• SILICON LABORATORIES INC. (company) — Filer name
• 0001038074 (company) — Central Index Key
• 3674 (company) — Standard Industrial Classification for Semiconductors & Related Devices
• DE (company) — State of Incorporation
• AUSTIN (company) — Business Address City
• TX (company) — Business Address State
• 78701 (company) — Business Address ZIP
• 5124168500 (company) — Business Phone

FAQ

Industry Context

Silicon Laboratories operates in the semiconductor industry, specifically focusing on integrated circuits for the Internet of Things (IoT) and other applications.

Regulatory Implications

As a publicly traded company, Silicon Laboratories is subject to SEC regulations and reporting requirements, including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Analyze the balance sheet and income statement for the quarter ending March 30, 2024.
2. Review any disclosures regarding significant events or changes in business operations.
3. Compare key financial metrics to previous quarters and the same quarter in the prior year, if available in the full filing.

Key Dates

• 2024-03-30: Quarter End Date — Marks the end of the reporting period for this 10-Q filing.
• 2024-04-24: Filing Date — Date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This is a 10-Q filing, representing a quarterly update. A comparison to the previous 10-Q (for the period ending December 30, 2023) would be necessary to identify sequential changes.

Key Financial Figures

• $0.0001 — ge on which registered Common Stock, $0.0001 par value SLAB The NASDAQ Stock Market

Filing Documents

• slab-20240330.htm (10-Q) — 818KB
• slab-20240330xexx311.htm (EX-31.1) — 10KB
• slab-20240330xexx312.htm (EX-31.2) — 10KB
• slab-20240330xexx321.htm (EX-32.1) — 5KB
• 0001628280-24-017536.txt (&nbsp;) — 4276KB
• slab-20240330.xsd (EX-101.SCH) — 26KB
• slab-20240330_cal.xml (EX-101.CAL) — 69KB
• slab-20240330_def.xml (EX-101.DEF) — 86KB
• slab-20240330_lab.xml (EX-101.LAB) — 421KB
• slab-20240330_pre.xml (EX-101.PRE) — 263KB
• slab-20240330_htm.xml (XML) — 521KB

Financial Information

Part I. Financial Information Page Number Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited): Condensed Consolidated Balance Sheets at March 30, 2024 and December 30, 2023 3 Condensed Consolidated Statements of Operations for the three months ended March 30, 2024 and April 1, 2023 4 Condensed Consolidated Statements of Comprehensive Income for the three months ended March 30, 2024 and April 1, 2023 5 Condensed Consolidated Statements of Changes in Stockholders' Equity for the three months ended March 30, 2024 and April 1, 2023 6 Condensed Consolidated Statements of Cash Flows for the three months ended March 30, 2024 and April 1, 2023 7 Notes to 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 17 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 23 Item 4.

Controls and Procedures

Controls and Procedures 23

Other Information

Part II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 24 Item 1A.

Risk Factors

Risk Factors 24 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38 Item 3. Defaults Upon Senior Securities 38 Item 4. Mine Safety Disclosures 38 Item 5. Other Information 38 Item 6. Exhibits 39 Cautionary Statement Except for the historical financial information contained herein, the matters discussed in this report on Form 10-Q (as well as documents incorporated herein by reference) may be considered "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include declarations regarding the intent, belief or current expectations of Silicon Laboratories Inc. and its management and may be signified by the words "believe," "estimate," "expect," "intend," "anticipate," "plan," "project," "will" or similar language. You are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties. Actual results could differ materially from those indicated by such forward-looking statements. Factors that could cause or contribute to such differences include those discussed under "Risk Factors" and elsewhere in this report. Silicon Laboratories disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. 2 Table of Contents

Financial Information

Part I. Financial Information

Financial Statements

Item 1. Financial Statements Silicon Laboratories Inc. Condensed Consolidated Balance Sheets (In thousands, except per share data) (Unaudited) March 30, 2024 December 30, 2023 Assets Current assets: Cash and cash equivalents $ 191,489 $ 227,504 Short-term investments 141,201 211,720 Accounts receivable, net 32,616 29,295 Inventories 198,206 194,295 Prepaid expenses and other current assets 82,608 75,117 Total current assets 646,120 737,931 Property and equipment, net 142,155 145,890 Goodwill 376,389 376,389 Other intangible assets, net 53,453 59,533 Other assets, net 126,036 123,313 Total assets $ 1,344,153 $ 1,443,056 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 44,575 $ 57,498 Revolving line of credit — 45,000 Deferred revenue and returns liability 3,921 2,117 Other current liabilities 62,863 58,955 Total current liabilities 111,359 163,570 Other non-current liabilities 67,233 70,804 Total liabilities 178,592 234,374 Commitments and contingencies Stockholders' equity: Preferred stock – $ 0.0001 par value; 10,000 shares authorized; no shares issued — — Common stock – $ 0.0001 par value; 250,000 shares authorized; 31,924 and 31,897 shares issued and outstanding at March 30, 2024 and December 30, 2023, respectively 3 3 Additional paid-in capital 29,830 16,973 Retained earnings 1,136,205 1,192,731 Accumulated other comprehensive loss ( 477 ) ( 1,025 ) Total stockholders' equity 1,165,561 1,208,682 Total liabilities and stockholders' equity $ 1,344,153 $ 1,443,056 The accompanying notes are an integral part of these Condensed Consolidated Financial Statements. 3 Table of Contents Silicon Laboratories Inc. Condensed Consolidated Statements of Operations (In thousands, except per share data) (Unaudited) Three Months Ended March 30, 2024 April 1, 2023 Revenues $ 106,375 $ 246,787 Cost of revenues 51,306 92,927 Gross profit 55,069 153,860 Operating expenses: Research and development

View Full Filing

View this 10-Q filing on SEC EDGAR