| Metric | Value ($ M) | Q1 FY27 | Q2 FY26 |
|---|---|---|---|
| Revenue | 201.08 | 17.7% | 62.2% |
| Total Income | 201.08 | 17.7% | 62.2% |
| Expenditure | 178.73 | 23.4% | 49.9% |
| PBT | 17.22 | 36.9% | 239.0% |
| Net Profit | 19.36 | 11.3% | 565.3% |
| OPM | 11.12% | 4.14pp | 7.32pp |
| NPM | 9.63% | 3.14pp | 7.28pp |
| EPS | 0.14 | 12.5% | 600.0% |
Lattice Semiconductor Reports Record Q2 2026 Revenue of $201.1 Million, Up 62% YoY
05 Aug 2026 · 5 Aug, 1:40 am
Summary
Lattice Semiconductor announced record-breaking financial results for the second quarter of 2026, with revenue reaching $201.1 million, a significant 62% increase year-over-year. The company also saw substantial growth in profitability, with non-GAAP diluted EPS rising over 120% year-over-year to $0.53, and non-GAAP gross margin improving to 71.7%. Management expressed confidence in continued market share gains and profitable growth, driven by strong customer demand and accelerating backlog. The recent completion of the AMI acquisition is expected to further bolster performance, contributing to a projected $1 billion revenue run rate in the third quarter.
Key Highlights
- 1
Lattice Semiconductor reported record revenue of $201.1 million for the fiscal second quarter ended July 4, 2026, marking a 62% increase year-over-year.
- 2
The company achieved a non-GAAP diluted earnings per share of $0.53, an increase of more than 120% year-over-year.
- 3
GAAP net income for the second quarter of 2026 was $19.4 million, with a net income margin of 9.6%.
- 4
Non-GAAP gross margin was 71.7%, an improvement of 240 basis points year-over-year.
- 5
Adjusted EBITDA reached $86.4 million, representing a 43.0% adjusted EBITDA margin, up 890 basis points year-over-year.
- 6
The company announced the completion of its $1.65 billion acquisition of AMI, expected to be accretive and support a $1 billion revenue run rate in Q3 2026.
- 7
Lattice Semiconductor guides for 65% year-over-year revenue growth in its FPGA business for Q3 2026, with total revenue expected between $245 million and $265 million including AMI.
Management Comments
Ford Tamer
We delivered an exceptional second quarter, achieving record revenue of $201 million and non-GAAP EPS of $0.53, up 62% and more than 120% year-over-year, respectively. Both metrics exceeded the high end of our guidance. The combination of strong customer demand, accelerating backlog and sustained design win momentum gives us increased confidence in continued market share gains and profitable growth. This is reflected in our third-quarter outlook of $220 million at the midpoint or 65% year-over-year revenue growth in our FPGA business, and $255 million at the midpoint with two months of AMI revenue included. This gets us to a $1 billion revenue run rate, ahead of expectations. With the acquisition close now behind us, we are pleased to welcome the talented AMI team to Lattice, and look forward to building the most complete secure management and control platform to benefit our customers. The addition of AMI’s capabilities expands the solutions we can provide for compute and communications, and broadens our relationships with hyperscalers, OEMs, ODMs and neocloud providers, while doubling our addressable market. AMI will continue to operate on an open, silicon-agnostic basis, preserving the neutrality and customer choice that are central to its value.
Lorenzo Flores
Our second quarter results demonstrate the operating leverage and earnings power of the Lattice business model, as accelerating revenue growth translated into even stronger profitability and cash flow. We continue to invest strategically to advance our leadership in small- and mid-range FPGAs and broaden the reach of our highly differentiated companion chip strategy. We are seeing growth across our end markets, expanding our customer reach, and believe Lattice is well positioned to drive sustained growth, continued margin strength, and generate increasing free cash flow, and shareholder value.
Informational and educational content only. Not investment advice.