Technology

24X Sets New FX NDF and KRW Volume Records

Published

3 months ago

August 3, 2026

HAMILTON, Bermuda, Aug. 3, 2026 /PRNewswire/ — 24X Bermuda Limited (“24X“) announced today that it set a new daily record for FX NDF volume on Friday, July 31st, processing more than $14.7 billion in FX NDF trades for its global institutional users. This new volume comes less than three months after setting a previous daily record of $12.2 billion in FX NDF trades. The company also set a new monthly FX NDF ADV record for July of more than $9.4 billion, and a new daily record for KRW (Korean Republic Won) volume of 7.1 billion.

24X CEO and Founder Dmitri Galinov said, “Handling increasing FX NDF volume records for some of the largest global financial institutions is precisely why we built the 24X platform. Our resilient platform has repeatedly and consistently proven its ability to serve surging order flow and in the process has become one of the largest liquidity source for global banks that trade FX NDFs. As liquidity accelerates, 24X’s market data is becoming a leading source of valuable information for our clients. We built 24X to exceed the market’s expectations for around-the-clock trading, and these latest volume records in FX NDF and Korean Won are proof of this success.”

24X also offers Deliverable Swaps, Non-Deliverable Swaps, Metals and Spot products to institutional customers in addition to NDFs. Since its launch in 2019, 24X’s multi-asset offering through a single interface has enabled market participants to access increased liquidity at lower cost.

About 24X

24X Bermuda Holdings LLC (“24 Exchange”) is a privately held company with two primary operating subsidiaries: 24X Bermuda Limited, which allows seamless and cost-effective exchange of currency exposures; and 24X National Exchange LLC, the first national securities exchange approved by the SEC to operate 23 hours each weekday. 24X’s mission is to enable cost-effective trades across a growing range of asset classes around the clock. 24X lowers the cost of exchanging assets in the global markets while delivering creative and unique workflows catered to each asset class. More information is available at https://24exchange.com/. 24X National Exchange enables retail and institutional customers around the world to trade in U.S. equities via broker-dealers who are approved members. More information about 24X National Exchange is available at https://equities.24exchange.com/home.

Media Contact:
Eric Andrus, KARV
24Xmedia@karv.global

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SOURCE 24 Exchange

Technology

Silicon Labs Reports Third Quarter 2026 Results

Published

29 minutes ago

November 10, 2026

Wireless IoT leader delivers $251 million in revenue and strong earnings growth

AUSTIN, Texas, Nov. 10, 2026 /PRNewswire/ — Silicon Labs (NASDAQ: SLAB), the leading innovator in low-power wireless, reported financial results for the third quarter, which ended October 3, 2026.

“We delivered strong third-quarter results, with revenue up 10% sequentially, underpinned by broad-based growth across many end applications and another record quarter for medical revenue as known customer ramps continued,” said Matt Johnson, President and Chief Executive Officer. “Earnings significantly outpaced revenue growth, a result of strong operational execution by the team. Looking ahead, our current backlog and design-win ramps position us for continued revenue growth and meaningful earnings expansion.”

Third Quarter Financial Highlights

Revenue was $251 million, up 22% year-over-yearIndustrial & Commercial revenue was $141 million, up 20% year-over-yearHome & Life revenue was $110 million, up 24% year-over-yearBookings imply a healthy demand environment, while distributor inventory declined further to a multi-year low and end customer inventory was near record lows during the quarterMedical revenue reached a new quarterly record, increasing 48% sequentially and more than 300% year-over-yearGAAP diluted earnings per share was $0.26, compared with a loss of $0.30 in the year-ago quarterNon-GAAP diluted earnings per share was $1.05, up 228% over the comparable period last year

Results on a GAAP basis:

GAAP gross margin was 60.8%GAAP operating expenses were $145 millionGAAP operating income was $8 millionGAAP diluted earnings per share was $0.26

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

Non-GAAP gross margin was 61.0%Non-GAAP operating expenses were $113 millionNon-GAAP operating income was $40 millionNon-GAAP diluted earnings per share was $1.05

Due to the announced pending acquisition of Silicon Labs by Texas Instruments, Silicon Labs has suspended providing forward-looking guidance.

About Silicon Labs

Silicon Labs (NASDAQ: SLAB) is the leading innovator in low-power wireless connectivity, building embedded technology that connects devices and improves lives. Merging cutting-edge technology into the world’s most highly integrated SoCs, Silicon Labs provides device makers the solutions, support, and ecosystems needed to create advanced edge connectivity applications. Headquartered in Austin, Texas, Silicon Labs has operations in over 16 countries and is the trusted partner for innovative solutions in the smart home, industrial IoT, and smart cities markets. Learn more at silabs.com.

Forward-Looking Statements

This press release contains forward-looking statements regarding Silicon Labs’ current expectations, which are based on its current views and assumptions. 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, although the absence of such words does not necessarily mean a statement is not forward looking. These forward-looking statements include, but are not necessarily limited to, Silicon Labs’ expectations regarding its near- and long-term strength and continued revenue growth and earnings expansion and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations that are expressed or implied herein. Among the factors that could cause actual results to differ materially from those in the forward-looking statements are the following: our ability to complete the merger with Texas Instruments within the time frame expected, or at all, as well as potential disruptions in our business and restrictions on our activities during the pendency of the merger; fluctuating changes in global trade policies, including the imposition of tariffs, duties, trade sanctions, or other barriers to international commerce; the impact of the current global memory chip shortage; the competitive and cyclical nature of the semiconductor industry; the challenging macroeconomic environment, including disruptions in the financial services industry; 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; risks relating to compliance with laws and regulations; 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, except as required by law. 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.

For more information: Silicon Labs Investor Relations, investor.relations@silabs.com

Silicon Laboratories Inc.

Condensed Consolidated Statements of Operations

(In thousands, except per share data)

(Unaudited)

Three Months Ended

Nine Months Ended

October 3,
2026

October 4,
2025

October 3,
2026

October 4,
2025

Revenues

$ 250,892

$ 205,999

$ 692,581

$ 576,558

Cost of revenues

98,314

86,980

272,331

251,653

Gross profit

152,578

119,019

420,250

324,905

Operating expenses:

Research and development

93,174

87,685

276,784

263,725

Selling, general and administrative

51,453

43,676

163,263

128,469

Operating expenses

144,627

131,361

440,047

392,194

Operating income (loss)

7,951

(12,342)

(19,797)

(67,289)

Other income (expense):

Interest income and other, net

3,185

3,046

9,300

10,672

Interest expense

(226)

(709)

(761)

Income (loss) before income taxes

10,910

(9,522)

(11,206)

(57,378)

Provision for income taxes

2,059

414

6,432

4,845

Net income (loss)

$ 8,851

$ (9,936)

$ (17,638)

$ (62,223)

Earnings (loss) per share:

Basic

$ 0.27

$ (0.30)

$ (0.53)

$ (1.91)

Diluted

$ 0.26

$ (0.30)

$ (0.53)

$ (1.91)

Weighted-average common shares outstanding:

Basic

33,376

32,835

33,182

32,656

Diluted

33,752

32,835

33,182

32,656

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

October 3, 2026

Non-GAAP Income Statement Items

GAAP

Measure

GAAP

Percent of

Revenue

Stock

Compensation

Expense

Intangible
Asset

Amortization

Merger-
Related Costs

Non-
GAAP

Measure

Non-GAAP

Percent of

Revenue

Revenues

$ 250,892

Gross profit

152,578

60.8 %

$ 459

$ —

$153,037

61.0 %

Research and development

93,174

37.1 %

11,996

2,295

3,623

75,260

30.0 %

Selling, general and administrative

51,453

20.5 %

10,594

—

3,281

37,578

15.0 %

Operating expenses

144,627

57.6 %

22,590

2,295

6,904

112,838

45.0 %

Operating income

7,951

3.2 %

23,049

2,295

6,904

40,199

16.0 %

Three Months Ended

October 3, 2026

Non-GAAP Earnings Per Share

GAAP

Measure

Stock

Compensation

Expense*

Intangible

Asset

Amortization*

Merger-
Related Costs*

Income

Tax

Adjustments**

Non-

GAAP

Measure

Net income (loss)

$ 8,851

$ 23,049

$ 2,295

$ 6,904

$ (5,710)

$ 35,389

Diluted shares outstanding

33,752

Diluted earnings per share

$ 0.26

$ 1.05

* Represents pre-tax amounts

** Represents the application of an 18% non-GAAP tax rate

Silicon Laboratories Inc.

Condensed Consolidated Balance Sheets

(In thousands, except per share data)

(Unaudited)

October 3,
2026

January 3,
2026

Assets

Current assets:

Cash and cash equivalents

$ 423,013

$ 364,222

Short-term investments

16,828

79,400

Accounts receivable, net

79,966

64,513

Inventories

133,391

95,566

Prepaid expenses and other current assets

71,421

70,316

Total current assets

724,619

674,017

Property and equipment, net

131,687

128,643

Goodwill

376,389

Other intangible assets, net

16,246

23,130

Other assets, net

87,213

67,138

Total assets

$ 1,336,154

$ 1,269,317

Liabilities and Stockholders’ Equity

Current liabilities:

Accounts payable

$ 68,860

$ 50,717

Deferred revenue and returns liability

9,804

5,359

Other current liabilities

78,841

87,711

Total current liabilities

157,505

143,787

Other non-current liabilities

53,267

31,112

Total liabilities

210,772

174,899

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; 33,384 and 32,955
shares issued and outstanding at October 3, 2026 and January 3, 2026, respectively

Additional paid-in capital

206,203

157,402

Retained earnings

919,176

936,814

Accumulated other comprehensive income

—

199

Total stockholders’ equity

1,125,382

1,094,418

Total liabilities and stockholders’ equity

$ 1,336,154

$ 1,269,317

Silicon Laboratories Inc.

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

Nine Months Ended

October 3,
2026

October 4,
2025

Operating Activities

Net loss

$ (17,638)

$ (62,223)

Adjustments to reconcile net loss to net cash provided by operating activities:

Depreciation of property and equipment

18,154

18,769

Amortization of other intangible assets

6,884

11,074

Stock-based compensation expense

69,754

59,645

Deferred income taxes

2,164

2,026

Changes in operating assets and liabilities:

Accounts receivable

(15,453)

(12,829)

Inventories

(37,828)

23,316

Prepaid expenses and other assets

(35,213)

9,080

Accounts payable

18,373

11,141

Other current liabilities and income taxes

3,271

29,901

Deferred revenue and returns liability

4,445

5,374

Other non-current liabilities

20,285

(7,916)

Net cash provided by operating activities

37,198

87,358

Investing Activities

Purchases of marketable securities

—

(34,790)

Sales of marketable securities

—

15,332

Maturities of marketable securities

62,309

22,598

Purchases of property and equipment

(28,472)

(19,942)

Proceeds from capital-related government incentives

8,705

—

Purchase of other investment

—

(4,000)

Net cash provided by (used in) investing activities

42,542

(20,802)

Financing Activities

Payment of taxes withheld for vested stock awards

(28,710)

(14,907)

Proceeds from the issuance of common stock

7,761

8,147

Net cash used in financing activities

(20,949)

(6,760)

Increase in cash and cash equivalents

58,791

59,796

Cash and cash equivalents at beginning of period

364,222

281,607

Cash and cash equivalents at end of period

$ 423,013

$ 341,403

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SOURCE Silicon Labs

Technology

QuickLogic Reports Fiscal Third Quarter 2026 Financial Results

Published

29 minutes ago

November 10, 2026

SAN JOSE, Calif., Nov. 10, 2026 /PRNewswire/ — QuickLogic® Corporation (NASDAQ: QUIK) (“QuickLogic” or the “Company”), a developer of embedded FPGA (“eFPGA”) Hard IP, Strategic Radiation Hardened and Antifuse FPGAs, and ruggedized programmable logic solutions, today announced its financial results for the fiscal third quarter ended September 27, 2026.

Recent Highlights

Secured a six-figure eFPGA Hard IP design win for an automotive industrial SoC targeting battery management, precision motor control, and robotic applications on a 16nm process technologyExpanded our eFPGA IP portfolio with a new 12LP core featuring enhanced DSP capabilities, scalability beyond 250,000 LUTs, and optional configuration-bit health monitoring for improved reliability in mission-critical applicationsAppointed James Sullivan as Senior Vice President of Finance and Chief Financial Officer

“Our recent automotive and industrial design win is a strong validation of our eFPGA technology,” said Brian Faith, CEO of QuickLogic. “Combined with our latest eFPGA Hard IP advancements and continued progress on the U.S. strategic radiation-hardened FPGA program, we are building momentum across key areas of our business and anticipate a strong finish to the year.”

Fiscal Third Quarter 2026 Financial Results

Total revenue from continuing operations for the third quarter of fiscal 2026 was $5.1 million, an increase of 153.2% compared with the third quarter of 2025 and a decrease of 6.3% compared with the second quarter of 2026.

New product revenue from continuing operations was approximately $4.0 million for the third quarter of 2026, an increase of $3.1 million, or 324.4%, compared with the third quarter of 2025 and a decrease of $0.6 million, or 13.2%, compared with the second quarter of 2026.

Mature product revenue from continuing operations was $1.1 million for the third quarter of 2026, compared with $1.1 million in the third quarter of 2025 and $0.8 million in the second quarter of 2026.

Third quarter 2026 GAAP gross margin from continuing operations was 37.4%, compared with (23.3%) in the third quarter of 2025 and 43.9% in the second quarter of 2026.

Third quarter 2026 non-GAAP gross margin from continuing operations was 41.0%, compared with (11.9%) in the third quarter of 2025 and 46.8% in the second quarter of 2026.

Third quarter 2026 GAAP operating expenses from continuing operations were $4.0 million, compared with $3.5 million in the third quarter of 2025 and $4.1 million in the second quarter of 2026.

Third quarter 2026 non-GAAP operating expenses from continuing operations were $3.3 million, compared with $2.9 million in the third quarter of 2025 and $3.5 million in the second quarter of 2026.

Third quarter 2026 GAAP net loss was ($2.2 million), or ($0.12) per share, compared with a net loss of ($4.0 million), or ($0.24) per share, in the third quarter of 2025, and a net loss of ($0.9 million), or ($0.05) per share, in the second quarter of 2026.

Third quarter 2026 non-GAAP net loss was ($1.3 million), or ($0.07) per share, compared with a net loss of ($3.2 million), or ($0.19) per share, in the third quarter of 2025, and a net loss of ($1.1 million), or ($0.06) per share, in the second quarter of 2026.

Conference Call

QuickLogic will hold a conference call at 2:30 p.m. Pacific Time / 5:30 p.m. Eastern Time today, November 10, 2026, to discuss its current financial results. The conference call will be webcast on QuickLogic’s IR Site Events Page at https://ir.quicklogic.com/ir-calendar. To join the live conference, you may dial (877) 407-0792 and international participants should dial (201) 689-8263 by 2:20 p.m. Pacific Time. A recording of the call will be available approximately one hour after completion. To access the recording, please call (844) 512-2921 and reference the passcode 13763456.

The call recording, which can be accessed by phone, will be available through November 17, 2026, and the webcast will be available for 12 months on the Company’s website.

About QuickLogic

QuickLogic is a fabless semiconductor company specializing in eFPGA Hard IP, Strategic Radiation Hardened and Antifuse FPGAs, and ruggedized programmable logic solutions. QuickLogic’s unique approach combines cutting-edge technology with open-source tools to deliver highly customizable low-power solutions for aerospace and defense, industrial, computing, and consumer markets. For more information, visit www.quicklogic.com.

QuickLogic uses its website (www.quicklogic.com), its blog (https://www.quicklogic.com/blog/), and LinkedIn page (https://www.linkedin.com/company/13512/) as channels of distribution of information about its products, its planned financial and other announcements, its attendance at upcoming investor and industry conferences, and other matters. Such information may be deemed material information, and QuickLogic may use these channels to comply with its disclosure obligations under Regulation FD. Therefore, investors should monitor the Company’s website and its social media accounts, in addition to following the Company’s press releases, SEC filings, public conference calls, and webcasts.

Non-GAAP Financial Measures

QuickLogic reports financial information in accordance with United States Generally Accepted Accounting Principles (“GAAP”), but believes that non-GAAP financial measures are helpful in evaluating its operating results and comparing its performance to comparable companies. Accordingly, the Company excludes certain charges related to stock-based compensation, impairment charges, and restructuring costs, as well as significant non-recurring gains, in calculating non-GAAP (i) operating expenses, (ii) income (loss) from operations, (iii) net income (loss), (iv) net income (loss) per share, and (v) cost of revenue and gross margin percentage. The Company provides this non-GAAP information to enable investors to evaluate its operating results in a manner consistent with how the Company analyzes its operating results and to provide consistency and comparability with similar companies in the Company’s industry.

Management uses the non-GAAP measures, which exclude gains, losses, and other charges that are considered by management to be outside of the Company’s core operating results, internally to evaluate its operating performance against results in prior periods and its operating plans and forecasts. In addition, the non-GAAP measures are used to plan for the Company’s future periods and serve as a basis for the allocation of the Company’s resources, management of operations and the measurement of profit-dependent cash flows, and equity compensation paid to employees and executive officers.

Investors should note, however, that the non-GAAP financial measures used by QuickLogic may not be the same non-GAAP financial measures and may not be calculated in the same manner as that of other companies. QuickLogic does not, nor does it suggest that investors should, consider such non-GAAP financial measures alone or as a substitute for financial information prepared in accordance with GAAP. A reconciliation of GAAP financial measures to non-GAAP financial measures is included in the financial statements portion of this press release. Investors are encouraged to review the related GAAP financial measures and the reconciliation of non-GAAP financial measures with their most directly comparable GAAP financial measures.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding the Company’s future profitability, revenue growth, and cash flows, expectations regarding its future business and statements regarding the timing, milestones, and payments related to its government contracts, statements regarding expected contracts and the expected magnitude of such contracts, and statements regarding expected adoption rates and/or orders by customers. Actual results may differ due to a variety of factors including: delays in the market acceptance of the Company’s new products; the ability to convert design opportunities into customer revenue; the ability to replace revenue from end-of-life products; the level and timing of customer design activity; the market acceptance of the Company’s customers’ products; the risk that orders may not result in future revenue; ability to introduce and produce new products based on advanced wafer technology on a timely basis; ability to adequately market the low power, competitive pricing, and short time-to-market of the Company’s new products; intense competition; ability to hire and retain qualified personnel; changes in product demand or supply; general economic conditions; political events, international trade disputes, natural disasters, and other business interruptions that could disrupt supply or delivery of, or demand for, the Company’s products; and changes in tax rates and exposure to additional tax liabilities. These and other potential factors and uncertainties that could cause actual results to differ materially from the results contemplated or implied are described in more detail in the Company’s public reports filed with the U.S. Securities and Exchange Commission (the “SEC”), including the risks discussed in the “Risk Factors” section in the Company’s Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, as well as disclosed in the Company’s prior press releases, which are available on the Company’s Investor Relations website at http://ir.quicklogic.com/ and on the SEC website at www.sec.gov/. In addition, please note that the date of this press release is November 10, 2026, and any forward-looking statements contained herein are based on management’s current expectations and assumptions that the Company believes to be reasonable as of this date. QuickLogic is not obliged to update these statements even as new information becomes available or other events occur in the future.

QuickLogic and logo are registered trademarks of QuickLogic. All other trademarks are the property of their respective holders and should be treated as such.

CODE: QUIK-E

–Tables Follow –

QUICKLOGIC CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

(Unaudited)

Three Months Ended

Nine Months Ended

September
27, 2026

September
28, 2025

June 28,
2026

September
27, 2026

September
28, 2025

Revenue

5,138

2,029

5,482

15,671

10,041

Cost of revenue

3,217

2,501

3,075

9,501

7,682

Gross profit (loss)

1,921

(472)

2,407

6,170

2,359

Operating expenses:

Research and development

1,491

1,398

1,556

4,559

3,859

Selling, general and administrative

2,512

2,057

2,552

7,501

6,555

Impairment charges

—

300

Restructuring costs

—

Total operating expenses

4,037

3,455

4,124

12,121

10,789

Operating income (loss)

(2,116)

(3,927)

(1,717)

(5,951)

(8,430)

Interest expense

(39)

(87)

(71)

(164)

(292)

Interest income and other income (expense), net

(16)

(41)

(90)

(28)

Gain on extinguishment of vendor payable

—

950

—

Income (loss) from continuing operations before
income taxes

(2,171)

(4,005)

(879)

(5,255)

(8,750)

(Benefit from) provision for income taxes

(1)

Net income (loss) from continuing operations

(2,179)

(4,004)

(882)

(5,263)

(8,755)

Net income (loss) from discontinued operations, net
of taxes and inclusive of $87 in restructuring
costs for the nine months ended September 28,
2025

(4)

(3)

(5)

(13)

(113)

Net income (loss)

(2,183)

(4,007)

(887)

(5,276)

(8,868)

Net income (loss) from continuing operations per
share:

Basic

(0.12)

(0.24)

(0.05)

(0.29)

(0.55)

Diluted

(0.12)

(0.24)

(0.05)

(0.29)

(0.55)

Net income (loss) per share:

Basic

(0.12)

(0.24)

(0.05)

(0.29)

(0.56)

Diluted

(0.12)

(0.24)

(0.05)

(0.29)

(0.56)

Weighted average shares outstanding:

Basic

18,419

16,516

18,110

17,999

15,957

Diluted

18,419

16,516

18,110

17,999

15,957

Note: Income taxes related to discontinued operations were immaterial in nature for the periods presented and as such, only net income (loss) from discontinued operations was reported herein.

QUICKLOGIC CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

(Unaudited)

September 27,
2026

December 28,
2025

ASSETS

Current assets:

Cash and cash equivalents

19,199

18,840

Accounts receivable, net

1,030

2,809

Contract assets

335

217

Inventories

938

956

Prepaid expenses and other

2,308

1,399

Assets of business held for disposal, net

—

Total current assets

23,810

24,223

Property and equipment, net

16,197

18,233

Capitalized internal-use software, net

1,429

1,117

Right of use assets, net

226

464

Intangible assets, net

310

339

Inventories

—

187

Other assets

266

241

TOTAL ASSETS

42,238

44,804

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Revolving line of credit

5,000

15,000

Trade payables

2,235

2,251

Accrued liabilities

1,732

1,779

Deferred revenue

786

Notes payable, current

1,466

1,870

Lease liabilities, current

218

321

Total current liabilities

11,437

21,285

Long-term liabilities:

Lease liabilities

—

126

Notes payable

823

926

Total liabilities

12,260

22,337

Stockholders’ equity:

Preferred stock, $0.001 par value; 10,000 shares authorized; no shares issued and
outstanding

—

Common stock, $0.001 par value; 200,000 authorized; 18,754 and 17,290 shares issued
and outstanding as of September 27, 2026 and December 28, 2025, respectively

Additional paid-in capital

359,447

346,662

Accumulated deficit

(329,488)

(324,212)

Total stockholders’ equity

29,978

22,467

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

42,238

44,804

QUICKLOGIC CORPORATION

SUPPLEMENTAL RECONCILIATIONS OF GAAP AND NON-GAAP FINANCIAL MEASURES

(in thousands, except per share amounts and percentages)

(Unaudited)

Three Months Ended

Nine Months Ended

September
27, 2026

September
28, 2025

June 28,
2026

September
27, 2026

September
28, 2025

GAAP operating income (loss)

(2,116)

(3,927)

(1,717)

(5,951)

(8,430)

Adjustment for stock-based compensation within:

Cost of revenue

184

231

158

498

578

Research and development

134

139

481

443

Selling, general and administrative

572

501

457

1,523

1,586

Adjustment for impairment charges

—

300

Adjustment for restructuring costs

—

Non-GAAP operating income (loss)

(1,192)

(3,099)

(947)

(3,388)

(5,448)

GAAP net income (loss) from continuing
operations

(2,179)

(4,004)

(882)

(5,263)

(8,755)

Adjustment for stock-based compensation within:

Cost of revenue

184

231

158

498

578

Research and development

134

139

481

443

Selling, general and administrative

572

501

457

1,523

1,586

Adjustment for impairment charges

—

300

Adjustment for restructuring costs

—

Adjustment for significant non-recurring gain

—

(950)

—

Non-GAAP net income (loss) from continuing
operations

(1,255)

(3,176)

(1,062)

(3,650)

(5,773)

GAAP net income (loss) from discontinued
operations

(4)

(3)

(5)

(13)

(113)

Adjustment for stock-based compensation within:

Research and development

—

(32)

Adjustment for restructuring costs

—

Non-GAAP net income (loss) from discontinued
operations

(4)

(3)

(5)

(13)

(58)

Non-GAAP net income (loss)

(1,259)

(3,179)

(1,067)

(3,663)

(5,831)

GAAP net income (loss) from continuing
operations per share, basic

(0.12)

(0.24)

(0.05)

(0.29)

(0.55)

Adjustment for stock-based compensation

0.05

0.04

0.14

0.16

Adjustment for impairment charges

—

0.02

Adjustment for restructuring costs

—

0.01

Adjustment for significant non-recurring gain

—

(0.05)

—

Non-GAAP net income (loss) from continuing
operations per share, basic

(0.07)

(0.19)

(0.06)

(0.20)

(0.36)

GAAP net income (loss) from discontinued
operations per share, basic

—

(0.01)

Adjustment for stock-based compensation

—

Adjustment for restructuring costs

—

0.01

Non-GAAP net income (loss) from discontinued
operations per share, basic

—

Non-GAAP net income (loss) per share, basic

(0.07)

(0.19)

(0.06)

(0.20)

(0.36)

GAAP net income (loss) from continuing
operations per share, diluted

(0.12)

(0.24)

(0.05)

(0.29)

(0.55)

Adjustment for stock-based compensation

0.05

0.04

0.14

0.16

Adjustment for impairment charges

—

0.02

Adjustment for restructuring costs

—

0.01

Adjustment for significant non-recurring gain

—

(0.05)

—

Non-GAAP net income (loss) from continuing
operations per share, diluted

(0.07)

(0.19)

(0.06)

(0.20)

(0.36)

GAAP net income (loss) from discontinued
operations per share, diluted

—

(0.01)

Adjustment for stock-based compensation

—

Adjustment for restructuring costs

—

0.01

Non-GAAP net income (loss) from discontinued
operations per share, diluted

—

Non-GAAP net income (loss) per share, diluted

(0.07)

(0.19)

(0.06)

(0.20)

(0.36)

GAAP gross margin percentage from continuing
operations

37.4

(23.3)

43.9

39.4

23.5

Adjustment for stock-based compensation included
in cost of revenue

3.6

11.4

2.9

3.1

5.8

Non-GAAP gross margin percentage from
continuing operations

41.0

(11.9)

46.8

42.5

29.3

QUICKLOGIC CORPORATION

SUPPLEMENTAL DATA

(Unaudited)

Percentage of Revenue

Change in Revenue

Q3 2026

Q3 2025

Q2 2026

Q3 2026 to
Q3 2025

Q3 2026 to
Q2 2026

COMPOSITION OF REVENUE

Revenue by product: (1)

New products

324

(13)

Mature products

Revenue by geography:

Asia Pacific

(53)

North America

323

(9)

Europe

736

(1)

New products include all products manufactured on 180 nanometer or smaller semiconductor processes, and eFPGA IP and related professional services. Mature products include all products produced on semiconductor processes larger than 180 nanometer. Associated royalty revenues are included within their respective device’s classification. The Company notes it did not recognize revenue at the SensiML entity held for disposal during the periods presented herein.

View original content to download multimedia:https://www.prnewswire.com/news-releases/quicklogic-reports-fiscal-third-quarter-2026-financial-results-302935485.html

SOURCE QuickLogic Corporation

Technology

Resideo Announces Third Quarter 2026 Financial Results and Updates 2026 Outlook

Published

29 minutes ago

November 10, 2026

Total revenue of $727 million, up 3% year-over-year, and revenue excluding OEM Security up 6% year-over-yearGross margin of 40.4%, marking the 14th consecutive quarter of year-over-year gross margin expansionGAAP income from continuing operations, net of taxes, of $31 million, down 66% compared to $90 million in third quarter of 2025; Standalone Adjusted EBITDA (1)of $154 million, up 5% year-over-yearGAAP diluted EPS from continuing operations of $0.14, down 71% year-over-year; Standalone Adjusted diluted EPS (1)of $0.52, up 8% year-over-yearRepaid $1.1 billion of gross debt; total gross debt of $2.1 billion at end of third quarter

SCOTTSDALE, Ariz., Nov. 10, 2026 /PRNewswire/ — Resideo Technologies, Inc. (NYSE: REZI), a leading global developer and manufacturer of critical control and sensing solutions for residential markets, today announced financial results for the third fiscal quarter ended October 3, 2026.

Management Remarks

“Resideo delivered top and bottom line third quarter results that were near the high end of our outlook ranges in our first quarter following the separation of ADI, underscoring our team’s continued strong execution. We achieved 3% revenue growth year-over-year across all sales channels and 6% growth year-over-year excluding OEM Security, driven by customer demand for our differentiated, non-discretionary products. We also reduced our debt by $1.1 billion, using the $900 million dividend received from ADI and $200 million of cash on hand,” said Tom Surran, Resideo’s President and CEO.

“We remain focused on creating value for our customers with our differentiated products and services. That includes new AI-powered capabilities on our next-generation FORTIQ software platform, which delivers actionable intelligence that enhances customer productivity and optimizes the end-user’s experience. We are executing on our strategic priorities with discipline and consistency, creating positive momentum in a soft housing market and a dynamic macro environment.”

Third Quarter 2026 Financial Highlights

Total revenue of $727 million was up 3% compared to $703 million in the third quarter of 2025, and includes an unfavorable impact of approximately 50 basis points from foreign currency exchange. Total revenue was near the high-end of the provided outlook range for the third quarter of 2026.

Revenue excluding OEM Security of $694 million, was up 6% compared to $653 million in the third quarter of 2025, and grew year-over-year across all of our sales channels and product categories due to volume, driven by customer demand for our products, and pricing. OEM Security revenue of $33 million was down 34% compared to $50 million in the third quarter of 2025, and declined as expected due to reduced volumes from a large OEM Security customer.

Gross margin of 40.4%, marking the 14th consecutive quarter of year-over-year gross margin expansion. Gains from price increases, operational efficiencies, and tariff refunds were partially offset by unfavorable product sales mix and inflationary input costs.

Research and development expenses increased $4 million from the third quarter of 2025 driven by investments in new product launches to drive future growth. Selling, general and administrative expenses increased $24 million from the third quarter of 2025, driven primarily by $30 million of non-recurring business separation expenses associated with the ADI Spin-Off. Restructuring, impairment and extinguishment expenses increased $17 million from the third quarter of 2025 due to continued manufacturing operations optimization and higher debt extinguishment charges.

GAAP income from continuing operations, net of taxes, of $31 million was down 66% compared to $90 million in the third quarter 2025. Standalone Adjusted EBITDA(1) of $154 million was up 5% compared to $146 million in the third quarter of 2025, primarily due to higher gross profit dollars and controlled growth in operating expenses. Standalone Adjusted EBITDA was near the high-end of the provided outlook range for the third quarter of 2026.

Cash Flow and Liquidity

Net cash provided by operating activities of continuing operations was $33 million in the third quarter 2026 compared to net cash used by operating activities of continuing operations of $1.59 billion in the third quarter of 2025. The increase in cash provided by operations was primarily due to the $1.59 billion payment made in the third quarter of 2025 to Honeywell to terminate the Indemnification Agreement.

In connection with the ADI Spin-Off, Resideo received a $900 million cash dividend from ADI as partial consideration for the assets transferred in the ADI Spin-Off. We used this dividend, along with $200 million of cash on hand to repay $1.1 billion of gross debt during the third quarter. We also made a $20 million payment to ADI as part of the post-separation adjustment mechanism to true up cash. At October 3, 2026, Resideo had cash and cash equivalents of $229 million and total outstanding gross debt of $2.1 billion.

In connection with the completion of the ADI Spin-Off, Resideo’s outstanding Series A Cumulative Convertible Participating Preferred Stock (“Preferred Stock”) was reduced by 150,000 shares, leaving 350,000 shares outstanding, with a proportional adjustment to the conversion price and an ongoing smaller quarterly dividend payable on Resideo’s Preferred Stock.

ADI Spin-Off and Discontinued Operations

On August 3, 2026, Resideo completed the separation of its former ADI Global Distribution segment by distributing to Resideo common shareholders on a pro rata basis all of the issued and outstanding common stock of ADI Global Distribution Inc., the entity incorporated to hold the ADI business (the “ADI Spin-Off”). As a result of the ADI Spin-Off, we present the historical results of the ADI business as discontinued operations in our financial statements.

Outlook

The following table summarizes Resideo’s fourth quarter 2026 and updated full year 2026 outlook:

($ in millions, except per share data)

Q4 2026

2026

Revenue

$710 – $730

$2,927 – $2,947

Standalone Adjusted EBITDA (1)

$145 – $155

$614 – $624

Standalone Adjusted Earnings Per Share (1)

$0.42 – $0.48

$1.92 – $1.98

Full Year Cash Provided by Operating Activities

At least $165

Conference Call and Webcast Details

Resideo will hold a conference call with investors on November 10, 2026, at 5:00 p.m. ET. The webcast can be accessed at https://investor.resideo.com, where the webcast link and related materials will be posted before the call. A replay of the webcast will be available following the presentation.

About Resideo

Resideo is a global building technologies company that is a leading developer and manufacturer of critical control and sensing solutions for residential markets. The company serves professional installers and integrators across diverse product categories, such as heating, ventilation, and air conditioning controls, combustion, life safety, security, and water. Its comfort and protection solutions can be found in more than 150 million residential and commercial spaces globally, with tens of millions of new devices sold annually. More information about Resideo and its trusted brands, including BRK, First Alert, and Honeywell Home, is available at resideo.com.

(1)

This press release includes certain Non-GAAP financial measures, including Adjusted EBITDA, Adjusted Net Income, Adjusted Diluted EPS, and other supplemental financial measures we denote as “Standalone” measures, including Standalone Adjusted EBITDA, Standalone Adjusted Net Income and Standalone Adjusted Diluted EPS, which are presented as if the ADI Spin-Off had occurred and Resideo was operating as a separate, independent company for all periods presented. See the section herein titled “Use of Non-GAAP and Standalone Supplemental Financial Measures” for more information.

Contacts:

Investors:

Media:

Christopher T. Lee

Kevin Hunt

Global Head of Strategic Finance

Director, Corporate Communications

investorrelations@resideo.com

kevin.hunt@resideo.com

Forward-Looking Statements

This press release and the related conference call contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements, including statements regarding our fourth quarter 2026 and full year 2026 outlook, our capital allocation and deleveraging plans, the expected benefits of the ADI Spin-Off, operational efficiency improvement, and the development, launch and adoption of new products and capabilities. Although we believe forward-looking statements are based upon reasonable assumptions, such statements involve known and unknown risks and uncertainties, which may cause the actual results or performance of Resideo Technologies, Inc. (“Resideo” or the “Company”) to differ materially from such forward-looking statements.

Such risks and uncertainties include, but are not limited to, our ability to achieve our outlook regarding the fourth quarter 2026 and full year 2026; the ability of Resideo to drive increased customer value and financial returns and enhance strategic and operational capabilities, including through our product offerings, services, ability to compete, and manage any expected OEM Security impacts; risks and uncertainties relating to tariffs that have been or may be imposed by the United States and other governments including the timing, amount and recoverability of tariff refunds or claims in relation to refunds; risks related to our ability to achieve some or all of the expected benefits of the ADI Spin-Off, our dependence on transition services, the commercial product purchase agreement and other arrangements with ADI, our dependence on a select group of large customers, and changes to our capital structure, leverage and liquidity resulting from the ADI Spin-Off; our ability to repay outstanding debt obligations on the timing we anticipate or at all; macroeconomic conditions, including housing market fluctuations, interest rates, inflation, repair and remodeling and construction activity, costs of raw materials and components, and fuel and shipping costs; our ability to implement pricing actions; seasonal fluctuations and weather conditions affecting demand for our products; ability to successfully execute restructuring and productivity initiatives; and the other risks described under the headings “Risk Factors” and “Cautionary Statement Concerning Forward-Looking Statements” in our Annual Report on Form 10-K for the year ended December 31, 2025, our subsequent Quarterly Reports on Form 10-Q, and other periodic filings we make from time to time with the Securities and Exchange Commission. Forward-looking statements are not guarantees of future performance, and actual results, developments, and business decisions may differ from those envisaged by our forward-looking statements.

Except as required by law, we undertake no obligation to update such statements to reflect events or circumstances arising after the date of this press release and we caution investors not to place undue reliance on any such forward-looking statements.

Use of Non-GAAP and Standalone Supplemental Financial Measures

This press release includes certain “Non-GAAP financial measures” as defined under the Securities Exchange Act of 1934 and in accordance with regulations issued thereunder, including Adjusted EBITDA, Adjusted Net Income, and Adjusted Diluted EPS, as well as other supplemental financial measures we denote as “Standalone” measures, including Standalone Adjusted EBITDA, Standalone Adjusted Net Income and Standalone Adjusted Diluted EPS, which are presented as if the ADI Spin-Off had occurred and Resideo was operating as a separate, independent company for all periods presented. Management believes the use of such Non-GAAP and supplemental financial measures assists investors and our management in understanding the ongoing operating performance of the Company by presenting financial results between periods on a more comparable basis. Such Non-GAAP and supplemental financial measures should not be construed as an alternative to reported results determined in accordance with U.S. GAAP. Readers should also consider the limitations associated with these Non-GAAP and supplemental financial measures, including the potential lack of comparability of these measures from one company to another.

We have included reconciliations of these Non-GAAP and supplemental financial measures to the most directly comparable financial measures calculated and provided in accordance with U.S. GAAP at the end of this release. A reconciliation of the Non-GAAP and supplemental financial measures included as part of the outlook provided herein is not included in this release due to the number of variables in the projected range as part of such outlook and because we are currently unable to quantify accurately without unreasonable efforts certain amounts that would be required to be included in the U.S. GAAP measure or the individual adjustments for such reconciliation, including the timing and amount of restructuring, impairment and extinguishment costs, business separation costs, litigation settlements, and other non-recurring items and the related tax effects. In addition, we believe such reconciliation would imply a degree of precision that would be confusing or misleading to investors. Amounts presented in this press release may not sum due to rounding.

CONDENSED CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

(in millions, except par value)

October 3, 2026

December 31, 2025

ASSETS

Current assets:

Cash and cash equivalents

$ 229

$ 537

Accounts receivable, net

507

414

Inventory

393

318

Other current assets

110

116

Current assets of discontinued operations

—

1,973

Total current assets

1,239

3,358

Property, plant and equipment, net

336

340

Goodwill

2,026

2,036

Intangible assets, net

341

347

Other assets

198

257

Non-current assets of discontinued operations

—

2,095

Total assets

$ 4,140

$ 8,433

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Accounts payable

$ 491

$ 414

Accrued liabilities

379

430

Current liabilities of discontinued operations

—

911

Total current liabilities

870

1,755

Long-term debt

2,074

3,167

Non-current obligations payable under the Honeywell Tax Matters Agreement

—

Other long-term liabilities

249

257

Non-current liabilities of discontinued operations

—

249

Total liabilities

3,193

5,516

Stockholders’ equity:

Preferred stock, $0.001 par value: 100 shares authorized, 0.35 shares issued and

outstanding, and $350 liquidation preference at October 3, 2026 and 0.5 shares
issued and outstanding, and $500 liquidation preference at December 31, 2025

337

482

Common stock, $0.001 par value: 700 shares authorized, 161 and 152 shares issued
and outstanding at October 3, 2026, respectively, and 158 and 150 shares issued and
outstanding at December 31, 2025, respectively

—

Additional paid-in capital

2,352

2,391

Retained (deficit) earnings

(1,413)

345

Accumulated other comprehensive loss

(146)

(157)

Treasury stock at cost

(183)

(144)

Total stockholders’ equity

947

2,917

Total liabilities and stockholders’ equity

$ 4,140

$ 8,433

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)

Three Months Ended

Nine Months Ended

(in millions, except per share data)

October 3,
2026

September 27,
2025

October 3,
2026

September 27,
2025

Revenue

$ 727

$ 703

$ 2,217

$ 2,108

Cost of goods sold

433

419

1,325

1,270

Gross profit

294

284

892

838

Operating expenses:

Research and development expenses

110

Selling, general and administrative expenses

159

135

445

403

Intangible asset amortization

Restructuring, impairment and extinguishment costs

Total operating expenses

222

178

617

519

Operating income

106

275

319

Indemnification Agreement expense (1)

—

972

Other expense (income), net (2)

(80)

Interest expense, net

Income (loss) from continuing operations before taxes

258

(757)

Provision (benefit) for income taxes

(20)

(22)

Income (loss) from continuing operations, net of taxes

170

(735)

Income (loss) from discontinued operations, net of taxes

(9)

(13)

Net income (loss)

156

157

(663)

Less: preferred stock dividends

Less: undistributed income allocated to preferred stockholders

—

Net income (loss) available to common stockholders

$ 13

$ 131

$ 118

$ (689)

Income (loss) from continuing operations, net of taxes, available to common
stockholders

$ 22

$ 75

$ 135

$ (753)

Income (loss) from discontinued operations, net of taxes, available to common
stockholders

(9)

(17)

Net income (loss) available to common stockholders

$ 13

$ 131

$ 118

$ (689)

Income (loss) from continuing operations, net of taxes

$ 31

$ 90

$ 170

$ (735)

Less: preferred stock dividends

Less: undistributed income allocated to preferred stockholders

—

Income (loss) from continuing operations, net of taxes, available to common
stockholders

$ 22

$ 75

$ 135

$ (753)

Income (loss) from discontinued operations, net of taxes

$ (9)

$ 66

$ (13)

$ 72

Less: preferred stock dividends

Less: undistributed (loss) income allocated to preferred stockholders

(1)

(2)

—

Income (loss) from discontinued operations, net of taxes, available to common
stockholders

$ (9)

$ 56

$ (17)

$ 64

Net income (loss) available to common stockholders

$ 13

$ 131

$ 118

$ (689)

Earnings (loss) per common share:

Basic earnings (loss) per share from continuing operations

$ 0.14

$ 0.50

$ 0.89

$ (5.05)

Basic earnings (loss) per share from discontinued operations

(0.06)

0.38

(0.11)

0.43

Basic earnings (loss) per share attributable to common shareholders

$ 0.08

$ 0.88

$ 0.78

$ (4.62)

Diluted earnings (loss) per share from continuing operations

$ 0.14

$ 0.49

$ 0.88

$ (5.05)

Diluted earnings (loss) per share from discontinued operations

(0.06)

0.36

(0.11)

0.43

Diluted earnings (loss) per share attributable to common shareholders

$ 0.08

$ 0.85

$ 0.77

$ (4.62)

Weighted average common shares outstanding:

Basic

152

149

151

149

Diluted

154

149

(1)

Represents the expense incurred pursuant to the Indemnification Agreement, which, prior to its termination, we paid our regularly scheduled payments of $70 million during 2025.

(2)

For the nine months ended October 3, 2026, Other expense (income), net, primarily represents the $77 million gain recognized pursuant to the termination of the Honeywell Tax Matters Agreement.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

Three Months Ended

Nine Months Ended

(in millions)

October 3,
2026

September 27,
2025

October 3,
2026

September 27,
2025

Cash Flows From Operating Activities:

Net income (loss)

$ 22

$ 156

$ 157

$ (663)

Income (loss) from discontinued operations, net of taxes

(9)

(13)

Income (loss) from continuing operations, net of taxes

170

(735)

Adjustments to reconcile net income (loss) from continuing operations to net
cash from operating activities:

Depreciation and amortization

Restructuring, impairment and extinguishment costs

Stock-based compensation expense

Deferred income taxes

—

(26)

Other, net

(11)

—

(2)

Changes in assets and liabilities:

Accounts receivable, net

(48)

(18)

(102)

(9)

Inventory

(59)

(7)

(80)

(9)

Other current assets

(3)

(14)

Accounts payable

(1)

(30)

Accrued liabilities

(4)

(99)

(53)

(9)

Non-current obligations payable under the Honeywell Tax Matters Agreement

—

(88)

—

Non-current obligations payable under the Indemnification Agreement

—

(1,625)

—

(723)

Other non-current, net

(7)

Net cash provided by (used in) continuing operations operating activities

(1,589)

111

(1,456)

Net cash (used in) provided by discontinued operations operating activities

(32)

(107)

Net cash provided by (used in) operating activities

(1,571)

(1,436)

Cash Flows From Investing Activities:

Capital expenditures

(22)

(13)

(62)

(43)

Other investing activities, net

—

Net cash used in continuing operations investing activities

(22)

(13)

(52)

(43)

Net cash used in discontinued operations investing activities

(5)

(15)

(30)

(36)

Net cash used in investing activities

(27)

(28)

(82)

(79)

Cash Flows From Financing Activities:

Proceeds from issuance of long-term debt

—

1,198

—

1,198

Repayments of long-term debt

(1,100)

—

(1,109)

(3)

Payments of debt facility issuance and modification costs

—

(1)

—

(23)

Acquisition of treasury stock to cover stock award tax withholding

(6)

(7)

(39)

—

Preferred stock dividend payments

(8)

(6)

(20)

(18)

Cash dividend received from ADI in connection with the ADI Spin-Off

900

—

900

—

Cash paid to ADI in connection with the ADI Spin-Off

(20)

—

(20)

—

Other financing activities, net

Net cash (used in) provided by continuing operations financing activities

(233)

1,195

(285)

1,167

Net cash used in discontinued operations financing activities

(454)

(3)

(60)

(8)

Net cash (used in) provided by financing activities

(687)

1,192

(345)

1,159

Effect of foreign exchange rate changes on cash, cash equivalents and restricted
cash

(6)

(1)

(9)

Net decrease in cash, cash equivalents and restricted cash

(719)

(408)

(432)

(347)

Cash, cash equivalents and restricted cash at beginning of period

949

754

662

693

Less: cash, cash equivalents and restricted cash of discontinued operations

—

Cash, cash equivalents and restricted cash of continuing operations at end of
period

$ 230

$ 253

$ 230

$ 253

NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS

ADJUSTED NET INCOME AND ADJUSTED DILUTED EARNINGS PER SHARE

(UNAUDITED)

Three Months Ended

Nine Months Ended

(in millions, except per share data)

October 3,
2026

September 27,
2025

October 3,
2026

September 27,
2025

GAAP Net income (loss) from continuing operations

$ 31

$ 90

$ 170

$ (735)

Less: preferred stock dividends

Less: undistributed income allocated to preferred stockholders

—

GAAP Net income (loss) from continuing operations available to
common stockholders

$ 22

$ 75

$ 135

$ (753)

Indemnification Agreement expense (1)

—

972

One-time tax impact of Indemnification Agreement

—

(34)

—

(78)

Termination of the Honeywell Tax Matters Agreement (2)

—

(33)

—

Intangible asset amortization

Business separation costs

—

Restructuring, impairment and extinguishment costs

Stock-based compensation expense

Litigation settlement

—

Undistributed income allocated to preferred stockholders

—

Other (3)

(1)

Tax effect of applicable non-GAAP adjustments (4)

(15)

(7)

(32)

(20)

Adjusted Net income

$ 80

$ 69

$ 226

$ 200

Non-recurring standalone adjustments, net of taxes (5)

—

Standalone Adjusted Net Income From Continuing Operations

$ 80

$ 74

$ 231

$ 214

Three Months Ended

Nine Months Ended

October 3,
2026

September 27,
2025

October 3,
2026

September 27,
2025

Net income (loss) from continuing operations available to common
shareholders per diluted common share

$ 0.14

$ 0.49

$ 0.88

$ (4.99)

Indemnification Agreement expense (1)

—

6.44

One-time tax impact of Indemnification Agreement

—

(0.22)

—

(0.52)

Termination of the Honeywell Tax Matters Agreement (2)

—

(0.21)

—

Intangible asset amortization

0.04

0.05

0.12

0.14

Business separation costs

0.19

—

0.19

—

Restructuring, impairment and extinguishment costs

0.13

0.02

0.28

0.03

Stock-based compensation expense

0.06

0.19

0.20

Litigation settlement

—

0.12

—

Undistributed income allocated to preferred stockholders

0.02

0.06

0.11

—

Other (3)

0.03

0.04

(0.01)

0.16

Tax effect of applicable non-GAAP adjustments (4)

(0.09)

(0.05)

(0.21)

(0.13)

Adjusted Diluted Earnings Per Share

$ 0.52

$ 0.45

$ 1.46

$ 1.33

Non-recurring standalone adjustments, net of taxes (5)

—

0.03

0.04

0.09

Standalone Adjusted Diluted Earnings Per Share

$ 0.52

$ 0.48

$ 1.50

$ 1.42

(1)

Refer to the Unaudited Consolidated Statements of Operations herein.

(2)

We recognized a gain of $77 million in Other income and derecognized $44 million of deferred tax assets that were no longer realizable to Income tax expense in connection with the termination of the Honeywell Tax Matters Agreement.

(3)

Other includes net periodic pension benefit costs, excluding service costs, foreign exchange transaction loss (income), gain on sale of assets and miscellaneous other non-recurring, non-operating income and loss.

(4)

We calculate the tax effect of relevant non-GAAP adjustments by applying a flat statutory tax rate of 25% for all non-deductible and taxable adjustments.

(5)

Reflects methodology differences between continuing operations basis of accounting and Standalone results (e.g., executive compensation for certain executives who transferred to ADI as part of the separation or retired from Resideo is wholly retained in continuing operations). Standalone results are intended to present historical results as if the ADI Spin-Off had occurred and Resideo was operating as a separate, independent company for all periods presented.

NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS

GAAP NET INCOME AND ADJUSTED EBITDA

(UNAUDITED)

Three Months Ended

Nine Months Ended

(in millions)

October 3,
2026

September 27,
2025

October 3,
2026

September 27,
2025

Revenue

$ 727

$ 703

$ 2,217

$ 2,108

GAAP Net income (loss) from continuing operations

$ 31

$ 90

$ 170

$ (735)

GAAP Net income (loss) from continuing operations as a
% of revenue

4.3 %

12.8 %

7.7 %

(34.9) %

Provision (benefit) for income taxes

(20)

(22)

GAAP Net income (loss) from continuing operations
before taxes

258

(757)

Indemnification Agreement expense (1)

—

972

Termination of Honeywell Tax Matters Agreement (2)

—

(77)

—

Interest expense, net

Depreciation and amortization

Business separation costs

—

Stock-based compensation expense

Restructuring, impairment and extinguishment costs

Litigation settlement

—

Other (3)

(1)

Adjusted EBITDA

$ 154

$ 140

$ 462

$ 414

Non-recurring standalone adjustments (4)

—

Standalone Adjusted EBITDA

$ 154

$ 146

$ 469

$ 433

Standalone Adjusted EBITDA as a % of revenue

21.2 %

20.8 %

21.2 %

20.5 %

(1)

Refer to the Unaudited Consolidated Statements of Operations herein.

(2)

(3)

(4)

Unaudited Condensed Consolidated Statement of Operations

For the Three Months Ended July 4, 2026

(UNAUDITED)

For the Three Months Ended July 4, 2026

Resideo

ADI
Discontinued
Operations

Resideo
Continuing
Operations

(in millions)

Revenue

$ 1,981

$ 1,243

$ 738

Cost of goods sold

1,386

951

435

Gross profit

595

292

303

Operating expenses:

Research and development expenses

Selling, general and administrative expenses

332

196

136

Intangible asset amortization

Restructuring, impairment and extinguishment costs

Business separation costs

—

Total operating expenses

464

269

195

Income from operations

131

108

Other expense (income), net

(81)

(83)

Interest expense, net

Net income before taxes

166

158

Provision for income taxes

Net income

Less: preferred stock dividends

Less: undistributed income allocated to preferred
stockholders

—

Net income (loss) available to common stockholders

$ 79

$ (1)

$ 80

Unaudited Condensed Consolidated Statement of Operations

For the Three Months Ended April 4, 2026

(UNAUDITED)

For the Three Months Ended April 4, 2026

Resideo

ADI
Discontinued
Operations

Resideo
Continuing
Operations

(in millions)

Revenue

$ 1,912

$ 1,160

$ 752

Cost of goods sold

1,361

904

457

Gross profit

551

256

295

Operating expenses:

Research and development expenses

Selling, general and administrative expenses

340

190

150

Intangible asset amortization

Restructuring, impairment and extinguishment costs

—

Business separation costs

—

Total operating expenses

449

249

200

Income from operations

102

Interest expense, net

Net income (loss) before taxes

(7)

Provision (benefit) for income taxes

(2)

Net income (loss)

(5)

Less: preferred stock dividends

Less: undistributed income allocated to preferred
stockholders

(1)

Net income (loss) available to common stockholders

$ 26

$ (7)

$ 33

Unaudited Condensed Consolidated Statement of Operations

For the Three Months Ended December 31, 2025

(UNAUDITED)

For the Three Months Ended December 31, 2025

Resideo

ADI
Discontinued
Operations

Resideo
Continuing
Operations

(in millions)

Revenue

$ 1,895

$ 1,145

$ 750

Cost of goods sold

1,335

877

458

Gross profit

560

268

292

Operating expenses:

Research and development expenses

Selling, general and administrative expenses

321

183

138

Intangible asset amortization

Restructuring, impairment and extinguishment costs

Business separation costs

—

Total operating expenses

420

235

185

Income from operations

140

107

Other income, net

(65)

(2)

(63)

Interest expense, net

Net income before taxes

156

137

Provision (benefit) for income taxes

(22)

Net income

136

Less: preferred stock dividends

Less: undistributed income allocated to preferred
stockholders

Net income available to common stockholders

$ 113

$ 34

$ 79

Unaudited Condensed Consolidated Statement of Operations

For the Three Months Ended September 27, 2025

(UNAUDITED)

For the Three Months Ended September 27, 2025

Resideo

ADI
Discontinued
Operations

Resideo
Continuing
Operations

(in millions)

Revenue

$ 1,864

$ 1,161

$ 703

Cost of goods sold

1,308

889

419

Gross profit

556

272

284

Operating expenses:

Research and development expenses

Selling, general and administrative expenses

320

185

135

Intangible asset amortization

Restructuring, impairment and extinguishment costs

—

Business separation costs

—

Total operating expenses

402

224

178

Income from operations

154

106

Other expense, net

Interest expense, net

Net income before taxes

110

Provision (benefit) for income taxes

(46)

(26)

(20)

Net income

156

Less: preferred stock dividends

Less: undistributed income allocated to preferred
stockholders

Net income available to common stockholders

$ 131

$ 56

$ 75

Unaudited Condensed Consolidated Statement of Operations

For the Three Months Ended June 28, 2025

(UNAUDITED)

For the Three Months Ended June 28, 2025

Resideo

ADI
Discontinued
Operations

Resideo
Continuing
Operations

(in millions)

Revenue

$ 1,943

$ 1,233

$ 710

Cost of goods sold

1,374

949

425

Gross profit

569

284

285

Operating expenses:

Research and development expenses

Selling, general and administrative expenses

319

183

136

Intangible asset amortization

Restructuring, impairment and extinguishment costs

Total operating expenses

392

216

176

Income from operations

177

109

Indemnification Agreement expense

882

—

882

Other expense (income), net

(2)

Interest expense, net

(1)

Net income (loss) before taxes

(738)

(809)

Provision for income taxes

Net loss

(825)

(12)

(813)

Less: preferred stock dividends

Net loss available to common stockholders

$ (833)

$ (14)

$ (819)

Unaudited Condensed Consolidated Statement of Operations

For the Three Months Ended March 29, 2025

(UNAUDITED)

For the Three Months Ended March 29, 2025

Resideo

ADI
Discontinued
Operations

Resideo
Continuing
Operations

(in millions)

Revenue

$ 1,770

$ 1,075

$ 695

Cost of goods sold

1,259

833

426

Gross profit

511

242

269

Operating expenses:

Research and development expenses

Selling, general and administrative expenses

306

174

132

Intangible asset amortization

Restructuring, impairment and extinguishment costs

—

Total operating expenses

375

210

165

Income from operations

136

104

Indemnification Agreement expense

—

Other expense, net

—

Interest expense, net

(1)

Net income (loss) before taxes

(18)

Provision (benefit) for income taxes

(6)

Net income (loss)

(12)

Less: preferred stock dividends

Net income (loss) available to common stockholders

$ (3)

$ 15

$ (18)

NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS

ADJUSTED EBITDA

(UNAUDITED)

For the Three Months Ended

(in millions)

March 29, 2025

June 28, 2025

September 27, 2025

December 31, 2025

April 4, 2026

July 4, 2026

October 3, 2026

Net Income (loss) from continuing operations

$ (12)

$ (813)

$ 90

$ 95

$ 43

$ 96

$ 31

Provision (benefit) for income taxes

(6)

(20)

Interest expense, net

Depreciation and amortization

Stock-based compensation expense

Restructuring, impairment and extinguishment costs

—

Business separation costs

—

Litigation Settlement

—

Indemnification Agreement expense

882

—

Termination of Honeywell Tax Matters Agreement

—

(77)

—

Gain on sale of business

—

(52)

—

Other (1)

(10)

(6)

Adjusted EBITDA

$ 134

$ 140

$ 142

$ 152

$ 156

$ 154

Non-recurring standalone adjustments (2)

—

Standalone Adjusted EBITDA

$ 139

$ 148

$ 146

$ 148

$ 158

$ 157

$ 154

(1)

(2)

NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS

ADJUSTED NET INCOME AND ADJUSTED DILUTED EARNINGS PER SHARE

(UNAUDITED)

For the Three Months Ended

(in millions)

March 29, 2025

June 28, 2025

September 27, 2025

December 31, 2025

April 4, 2026

July 4, 2026

October 3, 2026

Net income (loss) from continuing operations available to
common stockholders

$ (18)

$ (819)

$ 75

$ 79

$ 33

$ 80

$ 22

Intangible asset amortization

Stock-based compensation expense

Restructuring, impairment and extinguishment costs

—

Business separation costs

—

Litigation Settlement

—

Indemnification Agreement expense

882

—

Tax impact of terminating the IRA

—

(44)

(34)

—

Termination of Honeywell Tax Matters Agreement

—

(77)

—

Tax impact of terminating the Honeywell Tax Matters Agreement

—

Gain on sale of business

—

(52)

—

Tax impact of sale of business

—

Undistributed income allocated to preferred stockholders

—

Other (1)

(10)

(6)

Tax effect of applicable non-GAAP adjustments

(6)

(7)

(3)

(11)

(7)

(15)

Adjusted Net Income

$ 90

$ 41

$ 69

$ 64

$ 68

$ 77

$ 80

Non-recurring standalone adjustments, net of taxes (2)

—

Standalone Adjusted Net Income

$ 94

$ 47

$ 74

$ 69

$ 73

$ 78

$ 80

Diluted shares (in millions)

148

151

154

155

154

Standalone Adjusted Diluted Earnings Per Share

$ 0.64

$ 0.31

$ 0.48

$ 0.45

$ 0.47

$ 0.51

$ 0.52

(1)

Other includes net periodic benefit costs, excluding service costs, foreign exchange transaction loss (income), gain on sale of assets and miscellaneous other non-recurring, non-operating income and loss.

(2)

View original content to download multimedia:https://www.prnewswire.com/news-releases/resideo-announces-third-quarter-2026-financial-results-and-updates-2026-outlook-302935565.html

SOURCE Resideo Technologies, Inc.

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