slab-20251004

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)


þ			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended October 4, 2025


o			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _________ to _________

Commission file number: 000-29823

SILICON LABORATORIES INC.

(Exact name of registrant as specified in its charter)


Delaware			74-2793174
(State or other jurisdiction of incorporation or organization)			(I.R.S. Employer Identification No.)


400 West Cesar Chavez, Austin, Texas			78701
(Address of principal executive offices)			(Zip Code)

(512) 416-8500

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange

on which registered

Common Stock, $0.0001 par value

SLAB

The NASDAQ Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Sections 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

þ Yes o No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

þ Yes o No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer þ

Accelerated filer o

Non-accelerated filer o

Smaller reporting company o

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

o Yes þ No

As of October 28, 2025, 32,852,942 shares of common stock of Silicon Laboratories Inc. were outstanding.

Table of Contents


Part I. Financial Information		Page Number

Item 1.	Financial Statements (Unaudited):

	Condensed Consolidated Balance Sheets at October 4, 2025 and December 28, 2024	3

	Condensed Consolidated Statements of Operations for the three and nine months ended October 4, 2025 and September 28, 2024	4

	Condensed Consolidated Statements of Comprehensive Loss for the three and nine months ended October 4, 2025 and September 28, 2024	5

	Condensed Consolidated Statements of Changes in Stockholders’ Equity for the three and nine months ended October 4, 2025 and September 28, 2024	6

	Condensed Consolidated Statements of Cash Flows for the nine months ended October 4, 2025 and September 28, 2024	7

	Notes to Condensed Consolidated Financial Statements	8

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	18

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	24

Item 4.	Controls and Procedures	24

Part II. Other Information

Item 1.	Legal Proceedings	24

Item 1A.	Risk Factors	25

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	39

Item 3.	Defaults Upon Senior Securities	39

Item 4.	Mine Safety Disclosures	40

Item 5.	Other Information	40

Item 6.	Exhibits	41

Cautionary Statement

Except for the historical financial information contained herein, the matters discussed in this report on Form 10-Q (as well as documents incorporated herein by reference) may be considered “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include declarations regarding the intent, belief or current expectations of Silicon Laboratories Inc. and its management and may be signified by the words “believe,” “estimate,” “expect,” “intend,” “anticipate,” “plan,” “project,” “will” or similar language. You are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties. Actual results could differ materially from those indicated by such forward-looking statements. Factors that could cause or contribute to such differences include those discussed under “Risk Factors” and elsewhere in this report. Silicon Laboratories disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Table of Contents

Part I. Financial Information

Item 1. Financial Statements

Silicon Laboratories Inc.

Condensed Consolidated Balance Sheets

(In thousands, except per share data)

(Unaudited)


	October 4, 2025		December 28, 2024
Assets
Current assets:
Cash and cash equivalents	$	341,403	$	281,607
Short-term investments	97,622		100,554
Accounts receivable, net	67,308		54,479
Inventories	82,190		105,639
Prepaid expenses and other current assets	64,036		59,754
Total current assets	652,559		602,033
Property and equipment, net	128,323		132,136
Goodwill	376,389		376,389
Other intangible assets, net	25,425		36,499
Other assets, net	70,371		75,617
Total assets	$	1,253,067	$	1,222,674
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	55,647	$	42,448

Deferred revenue and returns liability	8,447		3,073
Other current liabilities	81,216		52,362
Total current liabilities	145,310		97,883

Other non-current liabilities	37,044		44,770
Total liabilities	182,354		142,653
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; 32,853 and 32,458 shares issued and outstanding at October 4, 2025 and December 28, 2024, respectively	3		3
Additional paid-in capital	130,979		78,227
Retained earnings	939,498		1,001,721
Accumulated other comprehensive income	233		70
Total stockholders’ equity	1,070,713		1,080,021
Total liabilities and stockholders’ equity	$	1,253,067	$	1,222,674

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

Table of Contents

Silicon Laboratories Inc.

Condensed Consolidated Statements of Operations

(In thousands, except per share data)

(Unaudited)


	Three Months Ended				Nine Months Ended
	October 4, 2025		September 28, 2024		October 4, 2025		September 28, 2024
Revenues	$	205,999	$	166,395	$	576,558	$	418,137
Cost of revenues	86,980		76,082		251,653		196,172
Gross profit	119,019		90,313		324,905		221,965
Operating expenses:
Research and development	87,685		83,228		263,725		249,787
Selling, general and administrative	43,676		36,793		128,469		109,041
Operating expenses	131,361		120,021		392,194		358,828
Operating loss	(12,342)		(29,708)		(67,289)		(136,863)
Other income (expense):
Interest income and other, net	3,046		3,487		10,672		9,009
Interest expense	(226)		(278)		(761)		(1,050)
Loss before income taxes	(9,522)		(26,499)		(57,378)		(128,904)
Provision for income taxes	414		2,005		4,845		38,283
Net loss	$	(9,936)	$	(28,504)	$	(62,223)	$	(167,187)

Loss per share:
Basic	$	(0.30)	$	(0.88)	$	(1.91)	$	(5.21)
Diluted	$	(0.30)	$	(0.88)	$	(1.91)	$	(5.21)

Weighted-average common shares outstanding:
Basic	32,835		32,309		32,656		32,114
Diluted	32,835		32,309		32,656		32,114

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

Table of Contents

Silicon Laboratories Inc.

Condensed Consolidated Statements of Comprehensive Loss

(In thousands)

(Unaudited)


	Three Months Ended				Nine Months Ended
	October 4, 2025		September 28, 2024		October 4, 2025		September 28, 2024
Net loss	$	(9,936)	$	(28,504)	$	(62,223)	$	(167,187)
Other comprehensive income, before tax:
Net changes to available-for-sale securities:
Unrealized gains arising during the period	182		655		232		1,526
Reclassification for losses (gains) included in net loss	—		11		(25)		52

Net changes to cash flow hedges:
Unrealized gains (losses) arising during the period	(22)		(5)		247		270
Reclassification for losses (gains) included in net loss	32		—		(247)		(234)
Other comprehensive income, before tax	192		661		207		1,614

Provision for income taxes related to items of other comprehensive income	40		135		44		317

Other comprehensive income	152		526		163		1,297

Comprehensive loss	$	(9,784)	$	(27,978)	$	(62,060)	$	(165,890)

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

Table of Contents

Silicon Laboratories Inc.

Condensed Consolidated Statements of Changes in Stockholders’ Equity

(In thousands)

(Unaudited)


Three Months Ended October 4, 2025	Shares	Common Stock		Additional Paid-In Capital		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Total Stockholders’ Equity
Balance as of July 5, 2025	32,815	$	3	$	111,562	$	949,434	$	81	$	1,061,080
Net loss	—	—		—		(9,936)		—		(9,936)
Other comprehensive income	—	—		—		—		152		152
Stock issuances, net of shares withheld for taxes	38	—		(627)		—		—		(627)

Stock-based compensation	—	—		20,044		—		—		20,044
Balance as of October 4, 2025	32,853	$	3	$	130,979	$	939,498	$	233	$	1,070,713


Three Months Ended September 28, 2024	Shares	Common Stock		Additional Paid-In Capital		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Total Stockholders’ Equity
Balance as of June 29, 2024	32,289	$	3	$	39,232	$	1,054,048	$	(254)	$	1,093,029
Net loss	—	—		—		(28,504)		—		(28,504)
Other comprehensive income	—	—		—		—		526		526
Stock issuances, net of shares withheld for taxes	54	—		422		—		—		422
Stock-based compensation	—	—		15,913		—		—		15,913
Balance as of September 28, 2024	32,343	$	3	$	55,567	$	1,025,544	$	272	$	1,081,386


Nine Months Ended October 4, 2025	Shares	Common Stock		Additional Paid-In Capital		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Total Stockholders’ Equity
Balance as of December 28, 2024	32,458	$	3	$	78,227	$	1,001,721	$	70	$	1,080,021
Net loss	—	—		—		(62,223)		—		(62,223)
Other comprehensive income	—	—		—		—		163		163
Stock issuances, net of shares withheld for taxes	395	—		(6,760)		—		—		(6,760)
Stock-based compensation	—	—		59,512		—		—		59,512
Balance as of October 4, 2025	32,853	$	3	$	130,979	$	939,498	$	233	$	1,070,713


Nine Months Ended September 28, 2024	Shares	Common Stock		Additional Paid-In Capital		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Total Stockholders’ Equity
Balance as of December 30, 2023	31,897	$	3	$	16,973	$	1,192,731	$	(1,025)	$	1,208,682
Net loss	—	—		—		(167,187)		—		(167,187)
Other comprehensive income	—	—		—		—		1,297		1,297
Stock issuances, net of shares withheld for taxes	446	—		(6,683)		—		—		(6,683)
Stock-based compensation	—	—		45,277		—		—		45,277
Balance as of September 28, 2024	32,343	$	3	$	55,567	$	1,025,544	$	272	$	1,081,386

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

Table of Contents

Silicon Laboratories Inc.

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)


	Nine Months Ended
	October 4, 2025		September 28, 2024
Operating Activities
Net loss	$	(62,223)	$	(167,187)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation of property and equipment	18,769		19,302
Amortization of other intangible assets	11,074		17,596

Stock-based compensation expense	59,645		45,358
Deferred income taxes	2,026		29,100
Changes in operating assets and liabilities:
Accounts receivable	(12,829)		(19,585)
Inventories	23,316		54,724
Prepaid expenses and other assets	9,080		23,091
Accounts payable	11,141		(13,849)
Other current liabilities and income taxes	29,901		(5,004)
Deferred revenue and returns liability	5,374		6,361
Other non-current liabilities	(7,916)		(13,946)
Net cash provided by (used in) operating activities	87,358		(24,039)

Investing Activities
Purchases of marketable securities	(34,790)		(28,363)
Sales of marketable securities	15,332		44,057
Maturities of marketable securities	22,598		131,008
Purchases of property and equipment	(19,942)		(7,785)
Purchase of other investment	(4,000)		—
Proceeds from sale of equity investment	—		12,382
Net cash provided by (used in) investing activities	(20,802)		151,299

Financing Activities

Payments on debt	—		(45,000)
Payment of taxes withheld for vested stock awards	(14,907)		(16,078)
Proceeds from the issuance of common stock	8,147		9,396
Net cash used in financing activities	(6,760)		(51,682)

Increase in cash and cash equivalents	59,796		75,578
Cash and cash equivalents at beginning of period	281,607		227,504
Cash and cash equivalents at end of period	$	341,403	$	303,082

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

Table of Contents

Silicon Laboratories Inc.

Notes to Condensed Consolidated Financial Statements

(Unaudited)

1. Significant Accounting Policies

Basis of Presentation and Principles of Consolidation

The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. The information included herein contains all normal recurring accruals and adjustments which, in the opinion of management, are necessary to present fairly Silicon Laboratories Inc.’s (the “Company”) financial position, results of its operations, comprehensive loss, stockholders’ equity, and cash flows. The Condensed Consolidated Balance Sheet as of December 28, 2024 was derived from the Company’s audited Consolidated Financial Statements. All intercompany balances and transactions have been eliminated in consolidation. The condensed consolidated results of operations for the three and nine months ended October 4, 2025 are not necessarily indicative of the results to be expected for the full year.

These Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and notes thereto for the year ended December 28, 2024, included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on February 4, 2025.

The Company prepares financial statements on a 52- or 53-week fiscal year that ends on the Saturday closest to December 31. Fiscal 2025 will have 53 weeks with the extra week occurring in the first quarter of the year. Fiscal 2024 had 52 weeks. In a 52-week year, each fiscal quarter consists of 13 weeks.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Among the significant estimates affecting the financial statements are those related to inventories, goodwill, acquired intangible assets, other long-lived assets, revenue recognition, stock-based compensation, and income taxes. Actual results could differ from those estimates, and such differences could be material to the financial statements. The Company periodically reviews the assumptions used in its financial statement estimates.

Recent Accounting Pronouncements

In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740)—Improvements to Income Tax Disclosures. This ASU requires that reporting entities disclose specific categories in the effective tax rate reconciliation as well as information about income taxes paid. The authoritative guidance is effective for annual periods beginning after December 15, 2024, with early adoption permitted. As the requirements of this ASU are disclosure-related, the adoption will not have an impact on the Company’s consolidated financial position and results of operations. The Company is currently evaluating the impact of this update on its income tax disclosures.

In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40). This ASU requires that public business entities disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. The prescribed categories include purchases of inventory, employee compensation, depreciation, intangible asset amortization, and depletion. This authoritative guidance is effective for annual periods beginning after December 15, 2026 and interim periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the effect of this new guidance on its consolidated financial statements.

In September 2025, the FASB issued ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40). This ASU clarifies and modernizes the accounting for costs related to internal-use software. The amendments in the ASU are effective for all entities for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods. Entities may apply the guidance using a prospective,

Table of Contents

Silicon Laboratories Inc.

Notes to Condensed Consolidated Financial Statements (Continued)

(Unaudited)

1. Significant Accounting Policies (Continued)

retrospective or modified transition approach. Early adoption is permitted as of the beginning of an annual reporting period. The Company is currently evaluating the effect of this new guidance on its consolidated financial statements.

2. Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data):


	Three Months Ended				Nine Months Ended
	October 4, 2025		September 28, 2024		October 4, 2025		September 28, 2024
Net loss	$	(9,936)	$	(28,504)	$	(62,223)	$	(167,187)

Shares used in computing basic earnings per share	32,835		32,309		32,656		32,114

Effect of dilutive securities:
Stock-based awards	—		—		—		—
Shares used in computing diluted earnings per share	32,835		32,309		32,656		32,114

Loss per share:
Basic	$	(0.30)	$	(0.88)	$	(1.91)	$	(5.21)
Diluted	$	(0.30)	$	(0.88)	$	(1.91)	$	(5.21)

Diluted shares for the three and nine months ended October 4, 2025 excluded 0.2 million and 0.3 million shares, respectively, and for the three and nine months ended September 28, 2024 excluded 0.1 million, and 0.2 million shares, respectively, as they were anti-dilutive due to the Company’s net loss for the periods.

Securities that were anti-dilutive due to the Company’s stock price and were excluded from the computation of diluted earnings per share for the three and nine months ended October 4, 2025 were not material, and for the three and nine months ended September 28, 2024 were 0.7 million, and 0.5 million, respectively.

3. Fair Value of Financial Instruments

The fair values of the Company’s financial instruments are recorded using a hierarchical disclosure framework based upon the level of subjectivity of the inputs used in measuring assets and liabilities. The three levels are described below:

Level 1 - Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date.

Level 2 - Inputs other than Level 1 that are directly or indirectly observable, such as quoted prices for similar assets or liabilities and quoted prices in less active markets.

Level 3 - Inputs are unobservable for the asset or liability and are developed based on the best information available in the circumstances, which might include the Company’s own data.

Table of Contents

Silicon Laboratories Inc.

Notes to Condensed Consolidated Financial Statements (Continued)

(Unaudited)

3. Fair Value of Financial Instruments (Continued)

The following summarizes the valuation of the Company’s financial instruments (in thousands). The tables do not include either cash on hand or assets and liabilities that are measured at historical cost or any basis other than fair value.


	Fair Value Measurements at October 4, 2025 Using
Description	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Total
Cash equivalents:
Money market funds	$	234,875	$	—	$	234,875
Total cash equivalents	$	234,875	$	—	$	234,875

Short-term investments:
Corporate debt securities	$	—	$	61	$	61
Government debt securities	—		97,561		97,561
Total short-term investments	$	—	$	97,622	$	97,622

Total	$	234,875	$	97,622	$	332,497


	Fair Value Measurements at December 28, 2024 Using
Description	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Total
Cash equivalents:
Money market funds	$	188,057	$	—	$	188,057

Total cash equivalents	$	188,057	$	—	$	188,057

SEC Form 10-Q filed by Silicon Laboratories Inc.