Silicon Labs Files Q3 2024 10-Q

TL;DR

**SILICON LABS (SLAB) Q3 10-Q FILED: BALANCE SHEET DETAILS SHOWING EQUITY CHANGES.**

AI Summary

Silicon Laboratories Inc. filed its 10-Q for the period ending September 28, 2024. The filing details the company's financial performance and position, including balance sheet information as of September 28, 2024, and comparative data from previous periods. Key financial components like common stock, additional paid-in capital, retained earnings, and accumulated other comprehensive income are reported.

Why It Matters

This filing provides investors and analysts with the latest financial snapshot of Silicon Laboratories Inc., crucial for understanding the company's ongoing financial health and performance trends.

Risk Assessment

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

Key Numbers

• 2024-09-28 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 2024-11-04 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• SILICON LABORATORIES INC. (company) — Filer of the 10-Q report
• 20240928 (date) — End of the reporting period
• 20241104 (date) — Filing date of the report
• 0001038074 (company) — Central Index Key for Silicon Laboratories Inc.

FAQ

Key Financial Figures

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

Filing Documents

• slab-20240928.htm (10-Q) — 977KB
• slab-20240928xexx311.htm (EX-31.1) — 10KB
• slab-20240928xexx312.htm (EX-31.2) — 10KB
• slab-20240928xexx321.htm (EX-32.1) — 5KB
• 0001628280-24-045047.txt ( ) — 4730KB
• slab-20240928.xsd (EX-101.SCH) — 25KB
• slab-20240928_cal.xml (EX-101.CAL) — 70KB
• slab-20240928_def.xml (EX-101.DEF) — 96KB
• slab-20240928_lab.xml (EX-101.LAB) — 445KB
• slab-20240928_pre.xml (EX-101.PRE) — 280KB
• slab-20240928_htm.xml (XML) — 597KB

Financial Information

Part I. Financial Information Page Number Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited): Condensed Consolidated Balance Sheets at September 28, 2024 and December 30, 2023 3 Condensed Consolidated Statements of Operations for the three and nine months ended September 28, 2024 and September 30, 2023 4 Condensed Consolidated Statements of Comprehensive Income (Loss) for the three and nine months ended September 28, 2024 and September 30, 2023 5 Condensed Consolidated Statements of Changes in Stockholders' Equity for the three and nine months ended September 28, 2024 and September 30, 2023 6 Condensed Consolidated Statements of Cash Flows for the nine months ended September 28, 2024 and September 30, 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 37 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) September 28, 2024 December 30, 2023 Assets Current assets: Cash and cash equivalents $ 303,082 $ 227,504 Short-term investments 66,596 211,720 Accounts receivable, net 48,879 29,295 Inventories 139,489 194,295 Prepaid expenses and other current assets 56,090 75,117 Total current assets 614,136 737,931 Property and equipment, net 135,317 145,890 Goodwill 376,389 376,389 Other intangible assets, net 41,936 59,533 Other assets, net 81,464 123,313 Total assets $ 1,249,242 $ 1,443,056 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 44,648 $ 57,498 Revolving line of credit — 45,000 Deferred revenue and returns liability 8,478 2,117 Other current liabilities 65,179 58,955 Total current liabilities 118,305 163,570 Other non-current liabilities 49,551 70,804 Total liabilities 167,856 234,374 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; 32,343 and 31,897 shares issued and outstanding at September 28, 2024 and December 30, 2023, respectively 3 3 Additional paid-in capital 55,567 16,973 Retained earnings 1,025,544 1,192,731 Accumulated other comprehensive income (loss) 272 ( 1,025 ) Total stockholders' equity 1,081,386 1,208,682 Total liabilities and stockholders' equity $ 1,249,242 $ 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 Nine Months Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Revenues $ 166,395 $ 203,760 $ 418,137 $ 695,413 Cost of rev

View Full Filing

View this 10-Q filing on SEC EDGAR