Silicon Laboratories (SLAB) FY2024 results: revenue $584 million, down 25.3% on the year

Silicon Laboratories Inc. (SLAB) reported revenue of $584 million for fiscal 2024, the year ended 28 December 2024, down 25.3% on the year before. Net income was -$191 million, and diluted earnings per share $-5.93. The figures are the company's own, from the 10-K it filed with the SEC on 4 February 2025.

Revenue

$584 million

-25.3% on the year

FY2017FY2024

Operating margin

-28.3%

-3.1% a year earlier

FY2017FY2024

Net income

-$191 million

FY2017FY2024

Diluted EPS

-$5.93

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	584	782	1,024	-25.3%
Cost of revenue	272	322	382	-15.4%
Gross profit	312	461	643	-32.2%
Gross margin	53.4%	58.9%	62.7%
Research and development	332	338	332	-1.6%
Selling, general and administrative	145	147	191	-1.0%
Operating income	-165	-24.2	119
Operating margin	-28.3%	-3.1%	11.6%
Interest expense	1.3	5.6	6.7	-76.4%
Pre-tax income	-155	-26.6	130
Income tax	36.2	7.9	38.5	+355.7%
Effective tax rate	n/a	n/a	29.6%
Net income	-191	-34.5	91.4
Net margin	-32.7%	-4.4%	8.9%
Diluted EPS	-$5.93	-$1.09	$2.54

$ 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

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	-13.9	-30.3	71.8
Capital expenditure	11.7	22.3	26.5	-47.3%
Free cash flow	-25.7	-52.6	45.3
Free cash flow margin	-4.4%	-6.7%	4.4%
Cash from investing	113	470	241	-75.9%
Cash from financing	-45.1	-712	-887
Depreciation and amortisation	48.6	51.1	56.6	-4.9%
Share-based compensation	61.5	48.2	60.5	+27.6%
Buybacks	0.0	217	883	-100.0%
Diluted shares, weighted	32m	32m	36m	+1.2%
Shares outstanding at period end	32m	32m	32m	+1.8%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	1,080	1,209	1,405	-10.6%
Debt	0.0	45.0	530
Operating lease liabilities	15.5	19.8	18.0	-21.6%
Other liabilities	127	170	217	-25.0%
Total liabilities and equity	1,223	1,443	2,169	-15.3%
Fixed assets	132	146	152	-9.4%
Goodwill	376	376	376	0.0%
Intangible assets	36.5	59.5	84.9	-38.7%
Investments	101	212	692	-52.5%
Cash and equivalents	282	228	500	+23.8%
Receivables	54.5	29.3	71.4	+86.0%
Inventory	106	194	100	-45.6%
Other assets	135	198	192	-31.8%
Total assets	1,223	1,443	2,169	-15.3%

10-K for the year ended 28 December 2024, filed 4 February 2025: the filing.