LSCC FY 2023 Earnings Report — Lattice Semiconductor Corporation Revenue & Financial Results | Market Cap Arena

Lattice Semiconductor CorporationLSCC

FY 2023 Earnings

Reported February 16, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$737M	—	$660M	—	11.6%
Op. Income	$212M	—	$187M	—	13.3%
Gross Margin	69.8%	—	68.5%	—	1.4pp
Net Margin	35.1%	—	27.1%	—	8.1pp
EPS (Diluted)	$1.85	—	$1.27	—	45.7%
Free Cash Flow	$236M	—	$215M	—	9.7%

Revenue Flow

Item	Amount
REVENUE	$737M
Cost of Revenue	$222M
GROSS PROFIT	$515M
R&D Expenses	$160M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$137M
Other Expenses	$5M
Operating Expenses	$302M
Cost & Expenses	$525M
OPERATING INCOME	$212M
Interest Income	$5M
Interest Expense	$3M
Other Income/Expenses	$3M
INCOME BEFORE TAX	$215M
Income Tax Expense	-$44M
Net Income from Continuing Ops	$259M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$259M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$259M
D&A	$41M
EBIT	$214M
EBITDA	$255M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$737M
Cost of Revenue	$222M
GROSS PROFIT	$515M
R&D Expenses	$160M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$137M
Other Expenses	$5M
Operating Expenses	$302M
Cost & Expenses	$525M
OPERATING INCOME	$212M
Interest Income	$5M
Interest Expense	$3M
Other Income/Expenses	$3M
INCOME BEFORE TAX	$215M
Income Tax Expense	-$44M
Net Income from Continuing Ops	$259M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$259M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$259M
D&A	$41M
EBIT	$214M
EBITDA	$255M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$259M
Depreciation & Amortization	$41M
Stock-Based Compensation	$70M
Deferred Income Tax	-$59M
Other Non-Cash Items	$253.0K
Change in Working Capital	-$43M
OPERATING CASH FLOW	$270M
Capital Expenditure	-$33M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$33M
Net Debt Issuance	-$130M
Common Stock Repurchased	-$80M
Common Dividends Paid	$0
Other Financing Activities	-$52M
NET CASH FROM FINANCING	-$254M
FREE CASH FLOW	$236M
Net Change in Cash	-$17M

Balance Sheet

Item	Amount
Cash & Equivalents	$128M
Short-Term Investments	$0
Net Receivables	$104M
Inventory	$99M
Other Current Assets	$11M
TOTAL CURRENT ASSETS	$368M
PP&E (Net)	$64M
Goodwill	$315M
Intangible Assets	$21M
Long-Term Investments	$0
Tax Assets	$58M
Other Non-Current Assets	$15M
TOTAL NON-CURRENT ASSETS	$473M
TOTAL ASSETS	$841M
Account Payables	$34M
Short-Term Debt	$6M
Deferred Revenue	$5M
Other Current Liabilities	$25M
TOTAL CURRENT LIABILITIES	$97M
Long-Term Debt	$11M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$6M
Other Non-Current Liabilities	$24M
TOTAL NON-CURRENT LIABILITIES	$51M
TOTAL LIABILITIES	$149M
Common Stock	$1M
Additional Paid-In Capital	$546M
Retained Earnings	$148M
Treasury Stock	$0
Accum. Other Comp. Income	-$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$692M
Minority Interest	$0
TOTAL EQUITY	$692M
TOTAL LIABILITIES & EQUITY	$841M
Total Debt	$27M
Net Debt	-$101M