Macom Technology Solutions Holdings (MTSI) Q3 FY2024 earnings: revenue $190 million, up 28.3% on the year

Macom Technology Solutions Holdings, Inc. (MTSI) reported revenue of $190 million for Q3 FY2024, the quarter ended 28 June 2024, up 28.3% on the same quarter a year earlier. Net income was $20 million, up 68.2% on the year, and diluted earnings per share $0.27. The figures are the company's own, from the 10-Q it filed with the SEC on 1 August 2024.

Revenue$190 millionup 28.3%

Net income$20 millionup 68.2%

Diluted EPS$0.27

QuarterQ3 FY2024ended 28 June 2024

The quarter, against the one before and a year earlier

Line	Q3 FY2024	Q2 FY2024	A year earlier	Change on the year
Revenue	190	181	n/a	n/a
Cost of revenue	89.1	86.0	n/a	n/a
Gross profit	101	95.2	n/a	n/a
Gross margin	53.2%	52.5%	n/a
Research and development	47.5	45.6	n/a	n/a
Selling, general and administrative	34.2	34.2	n/a	n/a
Operating income	19.7	15.4	n/a	n/a
Operating margin	10.4%	8.5%	n/a
Pre-tax income	24.2	19.5	n/a	n/a
Income tax	4.3	4.5	n/a	n/a
Effective tax rate	17.8%	23.1%	n/a
Net income	19.9	15.0	n/a	n/a
Net margin	10.5%	8.3%	n/a
Diluted EPS	$0.27	$0.20	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q3 FY2024	Q2 FY2024	A year earlier	Change on the year
Operating cash flow	49.0	18.2	n/a	n/a
Capital expenditure	7.5	5.1	n/a	n/a
Free cash flow	41.5	13.1	n/a	n/a
Free cash flow margin	21.8%	7.2%	n/a
Cash from investing	-48.5	-65.3	n/a	n/a
Cash from financing	1.9	-1.3	n/a	n/a
Depreciation and amortisation	7.9	7.8	n/a	n/a
Share-based compensation	13.3	12.1	n/a	n/a
Buybacks	1.4	1.0	n/a	n/a
Diluted shares, weighted	74m	73m	n/a	n/a
Shares outstanding at period end	72m	72m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2024	Q2 FY2024	A year earlier	Change on the year
Shareholders' equity	1,081	1,046	n/a	n/a
Debt	448	448	n/a	n/a
Finance lease liabilities	31.3	31.4	n/a	n/a
Other liabilities	145	152	n/a	n/a
Total liabilities and equity	1,705	1,676	n/a	n/a
Fixed assets	179	180	n/a	n/a
Goodwill	330	330	n/a	n/a
Intangible assets	85.5	93.0	n/a	n/a
Investments	546	503	n/a	n/a
Cash and equivalents	117	115	n/a	n/a
Receivables	107	120	n/a	n/a
Inventory	191	178	n/a	n/a
Other assets	150	157	n/a	n/a
Total assets	1,705	1,676	n/a	n/a

Quarterly results, the last 12 quarters

	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	150	157	181	190	201	218	236	252	261	272	289	342
Cost of revenue	63.7	69.8	86.0	89.1	90.9	101	106	113	119	120	125	143
Gross profit	86.6	87.3	95.2	101	110	117	130	139	142	152	164	200
Gross margin	58%	56%	53%	53%	55%	54%	55%	55%	54%	56%	57%	58%
R&D	37.5	39.4	45.6	47.5	49.6	60.4	57.8	63.4	62.9	66.5	69.0	74.3
SG&A	33.5	36.9	34.2	34.2	32.7	39.2	37.4	38.4	39.8	42.0	44.6	48.1
Operating income	15.6	11.0	15.4	19.7	27.5	17.5	34.9	37.7	39.6	43.3	50.8	77.1
Operating margin	10%	7%	9%	10%	14%	8%	15%	15%	15%	16%	18%	23%
Pre-tax income	19.0	15.3	19.5	24.2	32.5	-170	40.9	44.1	55.9	49.6	56.9	124
Tax rate	-29%	18%	23%	18%	10%	n/a	23%	17%	19%	2%	19%	19%
Net income	24.4	12.5	15.0	19.9	29.4	-168	31.7	36.5	45.1	48.8	46.3	101
Net margin	16%	8%	8%	10%	15%	-77%	13%	14%	17%	18%	16%	29%
Diluted EPS	$0.34	$0.17	$0.20	$0.27	$0.39	-$2.30	$0.42	$0.48	$0.59	$0.64	$0.60	$1.28
Operating cash flow	50.4	33.1	18.2	49.0	62.3	66.7	38.7	60.4	69.6	42.9	78.7	80.0
Capital expenditure	5.8	4.7	5.1	7.5	5.2	5.3	8.2	8.8	20.2	12.9	13.2	20.8
Free cash flow	44.5	28.4	13.1	41.5	57.1	61.3	30.5	51.6	49.4	30.0	65.5	59.2
Buybacks	0.1	11.6	1.0	1.4	0.3	37.9	3.4	1.4	0.5	47.9	n/a	n/a
Shares outstanding	71m	72m	72m	72m	72m	74m	74m	74m	74m	75m	76m	76m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 28 June 2024, filed 1 August 2024, accession 0001493594-24-000052: the filing on EDGAR. All of Macom Technology Solutions Holdings, Inc.'s filings: EDGAR company page.

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