Technology

Silicon Labs Reports Fourth Quarter 2024 Results

Published

1 year ago

February 4, 2025

Wireless IoT leader delivers in-line fourth-quarter results and guides to sequential growth in first quarter

AUSTIN, Texas, Feb. 4, 2025 /PRNewswire/ — Silicon Labs (NASDAQ: SLAB), a leader in secure, intelligent wireless technology for a more connected world, reported financial results for the fourth quarter, which ended December 28, 2024.

“The Silicon Labs team executed well to close out 2024, with fourth quarter revenue nearly doubling from the same quarter one year ago,” said Matt Johnson, President and Chief Executive Officer at Silicon Labs. “Looking ahead, we expect sequential revenue growth to resume beginning in the first quarter and are encouraged by our 2025 outlook as design wins across several key focus areas continue to ramp into production throughout the year.”

Fourth Quarter Financial Highlights

Revenue was $166 millionIndustrial & Commercial revenue for the quarter was $89 million, down 8% sequentiallyHome & Life revenue for the quarter was $78 million, up 11% sequentially

Results on a GAAP basis:

GAAP gross margin was 54.3%GAAP operating expenses were $119 millionGAAP operating loss was $29 millionGAAP diluted loss per share was $(0.73)

Results on a non-GAAP basis, excluding the impact of stock compensation, amortization of acquired intangible assets, and certain other items as set forth in the below GAAP to Non-GAAP reconciliation tables were as follows:

Non-GAAP gross margin was 54.6%Non-GAAP operating expenses were $98 millionNon-GAAP operating loss was $7 millionNon-GAAP diluted loss per share was $(0.11)

Business Outlook

The company expects first-quarter revenue to be between $170 to $185 million. The company also estimates the following results:

On a GAAP basis:

GAAP gross margin to be between 54% to 56%GAAP operating expenses of approximately $128 million to $130 millionGAAP diluted loss per share between $(0.75) to $(1.05)

On a non-GAAP basis, excluding the impact of stock compensation, amortization of acquired intangible assets, and certain other items as set forth in the reconciliation tables:

Non-GAAP gross margin to be between 54% to 56%Non-GAAP operating expenses of approximately $103 million to $105 millionNon-GAAP diluted earnings (loss) per share between $0.01 to $(0.19)

Earnings Webcast and Conference Call

Silicon Labs will host an earnings conference call to discuss the quarterly results and answer questions at 7:30 am CDT today. An audio webcast will be available on Silicon Labs’ website (www.silabs.com) under Investor Relations. In addition, the company will post an audio recording of the event at investor.silabs.com and make a replay available through March 6, 2025.

About Silicon Labs

Silicon Labs (NASDAQ: SLAB) is a leader in secure, intelligent wireless technology for a more connected world. Our integrated hardware and software platform, intuitive development tools, thriving ecosystem, and robust support make us an ideal long-term partner in building advanced industrial, commercial, home and life applications. We make it easy for developers to solve complex wireless challenges throughout the product lifecycle and get to market quickly with innovative solutions that transform industries, grow economies, and improve lives. silabs.com

Forward-Looking Statements

This press release contains forward-looking statements based on Silicon Labs’ current expectations. The words “believe”, “estimate”, “expect”, “intend”, “anticipate”, “plan”, “project”, “will”, and similar phrases as they relate to Silicon Labs are intended to identify such forward-looking statements. These forward-looking statements reflect the current views and assumptions of Silicon Labs and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. Among the factors that could cause actual results to differ materially from those in the forward-looking statements are the following: the competitive and cyclical nature of the semiconductor industry; the challenging macroeconomic environment, including tariffs or any other policy changes; geographic concentration of manufacturers, assemblers, test service providers and customers in Asia that subjects Silicon Labs’ business and results of operations to risks of natural disasters, epidemics or pandemics, war and political unrest; risks that demand and the supply chain may be adversely affected by military conflict (including in the Middle East, and between Russia and Ukraine), terrorism, sanctions or other geopolitical events globally (including in the Middle East, and conflict between Taiwan and China); risks that Silicon Labs may not be able to maintain its historical growth; quarterly fluctuations in revenues and operating results; difficulties developing new products that achieve market acceptance; risks associated with international activities (including trade barriers, particularly with respect to China); intellectual property litigation risks; risks associated with acquisitions and divestitures; product liability risks; difficulties managing and/or obtaining sufficient supply from Silicon Labs’ distributors, manufacturers and subcontractors; dependence on a limited number of products; absence of long-term commitments from customers; inventory-related risks; difficulties managing international activities; risks that Silicon Labs may not be able to manage strains associated with its growth; credit risks associated with its accounts receivable; dependence on key personnel; stock price volatility; the impact of public health crises on the U.S. and global economy; debt-related risks; capital-raising risks; the timing and scope of share repurchases and/or dividends; average selling prices of products may decrease significantly and rapidly; information technology risks; cyber-attacks against Silicon Labs’ products and its networks; risks associated with any material weakness in our internal controls over financial reporting; and other factors that are detailed in the SEC filings of Silicon Laboratories Inc. Silicon Labs disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. References in this press release to Silicon Labs shall mean Silicon Laboratories Inc.

Note to editors: Silicon Laboratories, Silicon Labs, the “S” symbol, and the Silicon Labs logo are trademarks of Silicon Laboratories Inc. All other product names noted herein may be trademarks of their respective holders.

Silicon Laboratories Inc.

Condensed Consolidated Statements of Operations

(In thousands, except per share data)

(Unaudited)

Three Months Ended

Year Ended

December 28,
2024

December 30,
2023

December 28,
2024

December 30,
2023

Revenues

$ 166,249

$ 86,845

$ 584,386

$ 782,258

Cost of revenues

76,026

42,919

272,198

321,672

Gross profit

90,223

43,926

312,188

460,586

Operating expenses:

Research and development

82,438

83,404

332,225

337,744

Selling, general and administrative

36,412

33,633

145,453

146,996

Operating expenses

118,850

117,037

477,678

484,740

Operating loss

(28,627)

(73,111)

(165,490)

(24,154)

Other income (expense):

Interest income and other, net

2,978

3,610

11,987

19,165

Interest expense

(260)

(942)

(1,310)

(5,554)

Loss before income taxes

(25,909)

(70,443)

(154,813)

(10,543)

Provision (benefit) for income taxes

(2,086)

(15,536)

36,197

7,943

Equity-method loss

—

(14,880)

—

(16,030)

Net loss

$ (23,823)

$ (69,787)

$ (191,010)

$ (34,516)

Loss per share:

Basic

$ (0.73)

$ (2.19)

$ (5.93)

$ (1.09)

Diluted

$ (0.73)

$ (2.19)

$ (5.93)

$ (1.09)

Weighted-average common shares outstanding:

Basic

32,420

31,848

32,191

31,804

Diluted

32,420

31,848

32,191

31,804

Non-GAAP Financial Measurements

In addition to the GAAP results provided throughout this document, Silicon Labs has provided non-GAAP financial measurements on a basis excluding non-cash and other charges and benefits. Details of these excluded items are presented in the tables below, which reconcile the GAAP results to non-GAAP financial measurements.

The non-GAAP financial measurements do not replace the presentation of Silicon Labs’ GAAP financial results. These measurements provide supplemental information to assist management and investors in analyzing Silicon Labs’ financial position and results of operations. Silicon Labs has chosen to provide this information to investors to enable them to perform meaningful comparisons of past, present and future operating results and as a means to emphasize the results of core on-going operations.

Unaudited Reconciliation of GAAP to Non-GAAP Financial Measures

(In thousands, except per share data)

Three Months Ended

December 28, 2024

Non-GAAP Income Statement Items

GAAP

Measure

GAAP

Percent of

Revenue

Stock

Compensation

Expense

Intangible Asset

Amortization

Non-GAAP

Measure

Non-GAAP

Percent of

Revenue

Revenues

$ 166,249

Gross profit

90,223

54.3 %

$ 485

$ —

$ 90,708

54.6 %

Research and development

82,438

49.6 %

10,199

5,437

66,802

40.2 %

Selling, general and administrative

36,412

21.9 %

5,460

—

30,952

18.6 %

Operating expenses

118,850

71.5 %

15,659

5,437

97,754

58.8 %

Operating income (loss)

(28,627)

(17.2 %)

16,144

5,437

(7,046)

(4.2 %)

Three Months Ended

December 28, 2024

Non-GAAP Loss Per Share

GAAP

Measure

Stock

Compensation

Expense*

Intangible

Asset

Amortization*

Income

Tax

Adjustments

Non-

GAAP

Measure

Net income (loss)

$ (23,823)

$ 16,144

$ 5,437

$ (1,221)

$ (3,463)

Diluted shares outstanding

32,420

Diluted loss per share

$ (0.73)

$ (0.11)

* Represents pre-tax amounts

Unaudited Forward-Looking Statements Regarding Business Outlook

(In millions, except per share data)

Three Months Ended
April 5, 2025

Business Outlook

GAAP

Measure

Non-GAAP

Adjustments**

Non-GAAP

Measure

Gross margin

54% to 56%

— %

54% to 56%

Operating expenses

$128 to $130

$(25)

$103 to $105

Diluted earnings (loss) per share

$(0.75) to $(1.05)

$0.76 to $0.86

$0.01 to $(0.19)

** Non-GAAP adjustments include the following estimates: stock compensation expense of $20.1 million, intangible asset amortization of $5.4 million, and the application of a long-term non-GAAP tax rate of 20%.

Silicon Laboratories Inc.

Condensed Consolidated Balance Sheets

(In thousands, except per share data)

(Unaudited)

December 28,
2024

December 30,
2023

Assets

Current assets:

Cash and cash equivalents

$ 281,607

$ 227,504

Short-term investments

100,554

211,720

Accounts receivable, net

54,479

29,295

Inventories

105,639

194,295

Prepaid expenses and other current assets

59,754

75,117

Total current assets

602,033

737,931

Property and equipment, net

132,136

145,890

Goodwill

376,389

Other intangible assets, net

36,499

59,533

Other assets, net

75,617

123,313

Total assets

$ 1,222,674

$ 1,443,056

Liabilities and Stockholders’ Equity

Current liabilities:

Accounts payable

$ 42,448

$ 57,498

Revolving line of credit

—

45,000

Deferred revenue and returns liability

3,073

2,117

Other current liabilities

52,362

58,955

Total current liabilities

97,883

163,570

Other non-current liabilities

44,770

70,804

Total liabilities

142,653

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; 31,897 and 31,994
shares issued and outstanding at December 30, 2023 and December 31, 2022,
respectively

Additional paid-in capital

78,227

16,973

Retained earnings

1,001,721

1,192,731

Accumulated other comprehensive income (loss)

(1,025)

Total stockholders’ equity

1,080,021

1,208,682

Total liabilities and stockholders’ equity

$ 1,222,674

$ 1,443,056

Silicon Laboratories Inc.

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

Year Ended

December 28,
2024

December 30,
2023

Operating Activities

Net loss

$ (191,010)

$ (34,516)

Adjustments to reconcile net loss to net cash used in operating activities:

Depreciation of property and equipment

25,551

25,707

Amortization of other intangible assets

23,034

25,374

Amortization of debt discount and debt issuance costs

—

960

Stock-based compensation expense

61,503

48,208

Equity-method loss

—

16,030

Deferred income taxes

29,470

(11,815)

Changes in operating assets and liabilities:

Accounts receivable

(25,184)

42,142

Inventories

88,494

(93,398)

Prepaid expenses and other assets

27,362

(10,733)

Accounts payable

(15,155)

(25,644)

Other current liabilities and income taxes

(21,768)

(37,793)

Deferred revenue and returns liability

956

(4,663)

Other non-current liabilities

(17,163)

29,793

Net cash used in operating activities

(13,910)

(30,348)

Investing Activities

Purchases of marketable securities

(73,602)

(103,485)

Sales of marketable securities

54,227

395,565

Maturities of marketable securities

131,858

200,530

Purchases of property and equipment

(11,748)

(22,282)

Proceeds from sale of equity investment

12,382

—

Purchases of other assets

—

(520)

Net cash provided by investing activities

113,117

469,808

Financing Activities

Proceeds from issuance of debt

—

80,000

Payments on debt

(45,000)

(571,157)

Repurchases of common stock

(16)

(217,137)

Payment of taxes withheld for vested stock awards

(16,434)

(18,189)

Proceeds from the issuance of common stock

16,346

14,612

Net cash used in financing activities

(45,104)

(711,871)

Increase (decrease) in cash and cash equivalents

54,103

(272,411)

Cash and cash equivalents at beginning of period

227,504

499,915

Cash and cash equivalents at end of period

$ 281,607

$ 227,504

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SOURCE Silicon Labs

Technology

CNN to bring its Global Perspectives events series to Bangkok

Published

54 minutes ago

April 21, 2026

Conversations to be led by CNN journalists including Dr. Sanjay Gupta, Richard Quest and Kristie Lu Stout

HONG KONG, April 21, 2026 /PRNewswire/ — CNN will hold the inaugural Asia chapter of its Global Perspectives events franchise in Bangkok, Thailand, on 14 October 2026, reinforcing the network’s commitment to convene global leaders and fostering dialogue on the critical issues shaping international business, policy and economic development.

CNN will bring together dignitaries, visionaries, political and business leaders for Global Perspectives: In Bangkok, to explore big ideas, bold leadership and the dynamic economies at the forefront of global transformation. On-stage conversations will be led by CNN’s esteemed anchors and correspondents, including Dr. Sanjay Gupta, Richard Quest, Kristie Lu Stout, Will Ripley and Hanako Montgomery, with editorial content and news-making interviews from the event featured across CNN platforms.

Expanding the Global Perspectives series with this Bangkok edition underscores CNN’s long-standing engagement in Asia. As a historic economic and cultural crossroads, Bangkok sits at the intersection of global economic dynamism, regional influence and vibrant cultural energy. The event will take place as global leaders, investors and policymakers gather in the city for the International Monetary Fund and World Bank Group Annual Meetings, creating an exclusive platform for CNN to examine a world in transition and the forces reshaping power and influence.

Ellana Lee, Group SVP, GM APAC, & Global Head of Productions at CNN, said: “Global Perspectives: In Bangkok will reflect CNN’s deep commitment to Asia and will aim to foster conversations that matter most on the global stage. At a time of rapid transformation, this event will bring together influential voices to examine the ideas, opportunities and challenges shaping the region and the world.”

James Hunt, SVP, Head of Client Solutions & Business Lead, Global Perspectives, CNN International Commercial said: “Global Perspectives provides a unique platform for leaders and partners to engage in meaningful dialogue and connect with the forces driving global change. Hosting the event in Bangkok creates new opportunities for brand partners and sponsors to be associated with important conversations about collaboration, insight and impact at the heart of one of the world’s most dynamic regions.”

Expanding its events franchise by holding Global Perspectives: In Bangkok builds on CNN’s long-standing presence in Asia which includes a network of bureaus and correspondents across Hong Kong, Beijing, Bangkok, Taiwan, Seoul, Tokyo, New Delhi and Islamabad.

Global Perspectives is an invitation-only gathering for international decision-makers and influential leaders from across industries, including technology, finance, investment, trade, geopolitics, healthcare, media, entertainment and more. The event will be attended by heads of state, regional and global leaders, and participants can expect to form meaningful connections that will last well beyond the event itself. Global Perspectives will be hosted at The Ritz-Carlton, Bangkok.

Further details on speakers and programming will be announced in due course. People interested in attending Global Perspectives: In Bangkok can register their interest at: https://cnnicevents.cnn.com/gpbangkok/prl

About CNN Worldwide

CNN Worldwide is the most honored brand in cable news, reaching more individuals through television, streaming and online than any other cable news organization in the United States. Globally, people across the world can watch CNN International, which is widely distributed in over 200 countries and territories. CNN Digital is the #1 online news destination, with more unique visitors than any other news source. HBO Max, Warner Bros. Discovery’s streaming platform, features CNN Max, a 24/7 streaming news offering available to subscribers alongside expanded access to News content and CNN Originals. CNN’s award-winning portfolio includes non-scripted programming from CNN Original Series and CNN Films for broadcast, streaming and distribution across multiple platforms. CNN programming can be found on CNN, CNN International and CNN en Español channels, via CNN Max and the CNN Originals hub on discovery+ and via pay TV subscription on CNN.com, CNN apps and cable operator platforms. Additionally, CNN Newsource is the world’s most extensively utilized news service partnering with over 1,000 local and international news organizations around the world. CNN is a division of Warner Bros. Discovery.

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SOURCE CNN International

Technology

Quality Executive Partners, Inc.® Announces Exclusive Partnership with Vi’eNnI® Training and Consulting LLP to Accelerate Workforce Development in India’s Huge Pharmaceutical Sector with Virtuosi®

Published

54 minutes ago

April 21, 2026

ATLANTA and BENGALURU, India, April 21, 2026 /PRNewswire/ — Quality Executive Partners, Inc.® (QxP), a global leader in pharmaceutical quality, workforce development, regulatory compliance, and manufacturing consulting, today announced an exclusive strategic partnership with Vi’eNnI® Training and Consulting LLP to introduce and scale Virtuosi® across the Indian biopharmaceutical market.

Virtuosi helps biopharmaceutical manufacturers to solve one of their most critical operational challenges—the readiness of the workforce to perform in high-risk, high-complexity GMP environments—by building and sustaining operational capability across the employee lifecycle.

Under this agreement, Vienni will be QxP’s exclusive partner for Virtuosi in India, leading market engagement, client identification, and commercial activities.

Vi’eNnI® TRAINING & CONSULTING LLP: Enabling Scalable Training Excellence Across India

Vi’eNnI® is a recognized leader in pharmaceutical training and capability development in India, with a strong track record in GMP education, regulatory compliance, and industry engagement. Vi’eNnI® through its association with Eduoriens Skill Development LLP and professional bodies such as Parenteral Drug Association (PDA) India, Vienni operates at the center of India’s pharmaceutical training and compliance ecosystem.

With this established network, operational credibility, and relationships across India’s leading pharmaceutical manufacturers, Vienni is uniquely positioned to drive the adoption of Virtuosi at scale across the Indian market.

“This alliance is intended to deepen, enrich, and embed the field of training. The advantage of this collaboration is expected to make learning stick, with recall much higher when a participant leaves the learning zone,” said Vishal Sharma, Co-Founder Director, Vi’eNnI® TRAINING & CONSULTING LLP

“This marks the beginning of driving innovation and shaping outcomes that matter. Together, we forge a partnership that speaks the language of impact, influence, and enduring progress for teaching-learning & implementation,” said Ivy Louis, Founder Director, Vi’eNnI® TRAINING & CONSULTING LLP

“Vi’eNnI®’s mission is to empower doers to excel in their craft. This association with QxP for Virtuosi marks a pivotal step in advancing workforce capability and highlighting the strategic value of immersive training in India. We are proud to continue driving this mission forward.”

“We are honored to partner with Vi’eNnI® , a highly respected organization with deep roots in the Indian pharmaceutical industry,” said Crystal Mersh, Chief Executive Officer of Quality Executive Partners, Inc. “Together, we are enabling broader access to Virtuosi in a way that allows clients to build and sustain the knowledge, skills, and behaviors required to perform under real operating conditions. This embeds compliance and capability into daily execution in order to deliver high quality medicines to patients around the world.”

Virtuosi by QxP: Advancing Workforce Capability in India’s Globally Critical Pharmaceutical Hubs

India is one of the most critical pharmaceutical manufacturing markets globally and is poised for significant growth in the coming years, particularly across biologics, biosimilars, and advanced therapies. As manufacturers expand into more complex product categories and face increasing scrutiny from global regulatory agencies—including the U.S. Food and Drug Administration (FDA) and European Medicines Agency (EMA) —the ability to rapidly build, standardize, and sustain a high-performing, inspection-ready workforce has become a strategic priority.

cGMP experts at QxP created Virtuosi to address this exact challenge. Virtuosi is an immersive workforce readiness program accredited by the International Accreditors for Continuing Education and Training (IACET), aligning with globally recognized standards for continuing education and distinguishing it as the only virtual reality–based training program to achieve such accreditation.

Combining virtual reality interactive experiences with digital course content, Virtuosi enables professionals to practice critical manufacturing and quality processes—such as aseptic operations, microbiology, and advanced therapies—in realistic, risk-free environments. The platform includes over 100 hours of education, 56 technical courses, and 20 immersive VR experiences, and is available in seven languages—English, French, German, Italian, Mandarin, Spanish, and Swedish—to support global workforce standardization. Virtuosi helps organizations reduce human error, accelerate time to competency, and improve compliance and operational performance across global pharmaceutical operations.

By shifting training from passive instruction to experiential learning, Virtuosi helps reduce time to competency and human error, improve inspection readiness, and drive measurable quality outcomes which translates directly to revenue protection and growth. This partnership strengthens not only the competitiveness of individual organizations, but also the long-term resilience, regulatory standing, and global leadership of India’s pharmaceutical sector.

About Quality Executive Partners, Inc.® (QxP)

Quality Executive Partners, Inc. (QxP) is a premium CGMP consulting firm focused on solving complex operational and regulatory challenges in pharmaceutical manufacturing. QxP services pharmaceutical manufactures and CDMOs globally across all major modalities – OTC, oral solid dosage, sterile, biologics, ATMPs, clinical-stage manufacturing, and combination products. We support clients throughout the product lifecycle, including clinical operations, commercial readiness, regulatory strategy, quality transformations, and remediation. Through our ‘Teach and Do®’ model, QxP embeds senior GMP experts / former regulators into day-to-day operations to execute alongside client teams and build internal capability. This model ensures solutions are effective in practice, sustainable, and directly reduce operational risk. .

About Vi’eNnI®

Vi’eNnI® Training and Consulting LLP is a pharmaceutical training and consulting organization based in Bengaluru, India, focused on advancing workforce capability, regulatory compliance, and operational excellence across the life sciences sector, for the past 16 years. The company delivers targeted training and consulting services across GMP, quality systems, aseptic processing, microbiology, and inspection readiness, competency and culture building initiatives, helping organizations strengthen performance, consolidate efficiency and achieve sustainable compliance. Known for its practical, implementation-focused approach, Vi’eNnI® enables pharmaceutical and biotechnology companies to translate training into measurable improvements on the shop floor, supporting continuous improvement and long-term capability development across India’s pharmaceutical industry with a variety of options and tools.

Media Contact (Global)
Robin Mersh
SVP, Virtuosi Sales
Quality Executive Partners, Inc.
Email: RobinMersh@QualityExecutivePartners.com
Phone: (+1) 678-496-7503

Media Contact (India)
Ivy Louis
Founder-Director
Vi’eNnI® Training and Consulting LLP
Email: Ivy_louis@vienni.com
Phone: +91 9986821045
WhatsApp: +91 9986821045

Vi’eNnI® & Virtuosi® are registered trademarks for VIENNI & Quality Executive Partners, Inc., respectively.

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Technology

Tuniu Corporation Files Its Annual Report on Form 20-F

Published

54 minutes ago

April 21, 2026

NANJING, China, April 20, 2026 /PRNewswire/ — Tuniu Corporation (NASDAQ:TOUR) (“Tuniu” or the “Company”), a leading online leisure travel company in China, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2025 with the Securities and Exchange Commission on April 20, 2026, U.S. Eastern Time. The annual report can be accessed on the Company’s investor relations website at http://ir.tuniu.com or the SEC’s website at www.sec.gov. The Company will provide a copy of its annual report containing the audited consolidated financial statements, free of charge, to its shareholders and ADS holders upon request. Requests should be directed to the Investor Relations Department at 12th floor, building 6-A, Juhuiyuan, No.108 Xuanwudadao, Xuanwu District, Nanjing, Jiangsu Province 210023, The People’s Republic of China.

About Tuniu Corporation

Tuniu (Nasdaq: TOUR) is a leading online leisure travel company in China that offers integrated travel service with a large selection of packaged tours, including organized and self-guided tours, as well as travel-related services for leisure travelers through its website tuniu.com and mobile platform. Tuniu provides one-stop leisure travel solutions and a compelling customer experience through its online platform and offline service network, including a dedicated team of professional customer service representatives, 24/7 call centers, extensive networks of offline retail stores and self-operated local tour operators. For more information, please visit http://ir.tuniu.com.

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SOURCE Tuniu Corporation