false000103807400010380742025-05-132025-05-13

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): May 13, 2025
SILICON LABORATORIES INC.
(Exact Name of Registrant as Specified in Charter)
Delaware000-2982374-2793174
(State or Other Jurisdiction
of Incorporation)		(Commission File Number)(IRS Employer
Identification No.)
400 West Cesar Chavez, Austin, TX
78701
(Address of Principal Executive Offices)(Zip Code)
Registrant’s telephone number, including area code: (512) 416-8500
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)
Name of each exchange
 on which registered
Common Stock, $0.0001 par valueSLABThe NASDAQ Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
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 Securities Exchange Act of 1934. o


Item 2.02. Results of Operations and Financial Condition
On May 13, 2025, Silicon Laboratories Inc. (“Silicon Laboratories”) issued a press release announcing its results of operations for its fiscal quarter ended April 5, 2025. A copy of the press release is attached as Exhibit 99 to this report.
Item 9.01. Financial Statements and Exhibits
(d)Exhibits.
99
104Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)
Use of Non-GAAP Financial Information
From time to time, Silicon Laboratories provides certain non-GAAP financial measures as additional information relating to its operating results. The non-GAAP financial measurements provided in the press release furnished herewith do not replace the presentation of Silicon Laboratories’ GAAP financial results. These additional measurements merely provide supplemental information to assist investors in analyzing Silicon Laboratories’ financial position and results of operations; however, these measures are not in accordance with, or an alternative to, GAAP and may be different from non-GAAP measures used by other companies.
Non-GAAP financial measures used by Silicon Laboratories include non-GAAP gross profit, non-GAAP gross margin, non-GAAP research and development expense and non-GAAP research and development expense as a percentage of revenue, non-GAAP selling, general and administrative expense and non-GAAP selling, general and administrative as a percentage of revenue, non-GAAP operating expenses and non-GAAP operating expenses as a percentage of revenue, non-GAAP operating income (loss) and non-GAAP operating income (loss) as a percentage of revenue, non-GAAP income (loss) before income taxes and equity-method earnings (loss), non-GAAP tax expense, non-GAAP tax rate, non-GAAP net income (loss), and non-GAAP diluted earnings (loss) per share. Silicon Laboratories has chosen to provide this information to investors because it believes that such supplemental information enables them to perform meaningful comparisons of past, present and future operating results, and as a means to highlight the results of core ongoing operations.
Non-GAAP financial measures are adjusted by the following items:
•Stock compensation expense – represents charges for employee stock awards issued under Silicon Laboratories’ stock-based compensation plans. Stock compensation expense is excluded from non-GAAP financial measures because it is a non-cash expense, and excluding such expense provides meaningful supplemental information regarding core ongoing operations.
•Intangible asset amortization – primarily represents charges for the amortization of intangibles assets, such as core and developed technology, customer relationships and trademarks acquired in connection with business combinations. Intangible asset amortization is excluded from non-GAAP financial measures because it is a non-cash expense, and excluding such expense provides meaningful supplemental information regarding core ongoing operations.
•Acquisition and disposition related items – primarily including the following: charges for the fair value write-up associated with inventory acquired; adjustments to the fair value of acquisition-related contingent consideration; and acquisition-related costs of a business combination or disposition-related costs of a business divestiture, such as costs for attorneys, investment bankers, accountants and other third party service providers. Acquisition and disposition related items are excluded from non-GAAP financial measures because excluding such amounts provides meaningful supplemental information regarding core ongoing operations.
•Termination costs, impairments, and fair value and other adjustments – primarily include costs associated with certain employee terminations, asset impairments, fair value adjustments resulting from observable price changes and other non-cash adjustments. Termination costs, impairments, and fair value and other adjustments are excluded from non-GAAP financial measures because excluding such amounts provides meaningful supplemental information regarding core ongoing operations.


•Equity-method investment adjustments – primarily include the proportionate share of gains and/or losses from investments accounted for by the equity method of accounting. Equity-method investment adjustments are excluded from non-GAAP financial measures because these generally are non-cash, represent non-operating activity during the period of adjustment, relate to activity in entities outside of the operational control of Silicon Laboratories, and excluding such expense/gain provides meaningful supplemental information regarding core operations.
•Interest expense adjustments – represents losses or gains on the extinguishment of convertible debt and losses or gains on the termination of interest rate swap agreements. Such amounts are excluded from non-GAAP financial measures because they are non-cash expenses and/or excluding such amounts provides meaningful supplemental information regarding core ongoing operations.
•Income tax adjustments – effective from the first quarter of 2024, represents the application of a long-term non-GAAP tax rate of 20% to non-GAAP income before income taxes. The non-GAAP tax rate is determined based on a multi-year forecast that takes into consideration the following: the current and deferred income tax effects of the above non-GAAP adjustments; other indirect impacts of excluding stock-based compensation; and the income tax impact of certain intercompany license arrangements for technology acquired in business combinations. This non-GAAP tax rate also considers factors such as tax structure, tax positions in various jurisdictions, and key legislation in significant jurisdictions where Silicon Laboratories operates. This non-GAAP tax rate may be subject to change for a variety of reasons, including the rapidly evolving global tax environment, significant changes in geographic earnings mix, changes to strategy or business operations, or corporate organizational changes related to acquisitions or tax planning opportunities.
Pursuant to the requirements of Regulation G, Silicon Laboratories has provided in the press release furnished with this report a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures.
The information in this report, including the exhibit hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of that section. The information contained therein and in the accompanying exhibit shall not be incorporated by reference into any filing with the U.S. Securities and Exchange Commission made by Silicon Laboratories, whether made before or after the date hereof, regardless of any general incorporation language in such filing.


SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SILICON LABORATORIES INC.
May 13, 2025
/s/ Dean Butler
DateDean Butler
Senior Vice President and
Chief Financial Officer
(Principal Financial Officer)


Exhibit 99
imagea.jpg
Silicon Labs Reports First Quarter 2025 Results
Wireless IoT leader delivers strong sequential and year-over-year revenue growth
AUSTIN, Texas – May 13, 2025 – Silicon Labs (NASDAQ: SLAB), the leading innovator in low-power wireless, reported financial results for the first quarter, which ended April 5, 2025.
“Silicon Labs drove strong sequential and year-over-year revenue growth as design wins across multiple end markets continued ramping in the first quarter of 2025,” said Matt Johnson, President and Chief Executive Officer at Silicon Labs. “Despite macroeconomic uncertainty and shifting trade dynamics, we remain confident in Silicon Labs’ ability to outperform the market given our leadership position in secular high-growth applications and consistent share gains.”
First Quarter Financial Highlights
•Revenue was $178 million
•Industrial & Commercial revenue for the quarter was $96 million, up 47% year-over-year
•Home & Life revenue for the quarter was $82 million, up 99% year-over-year
Results on a GAAP basis:
•GAAP gross margin was 55.0%
•GAAP operating expenses were $130 million
•GAAP operating loss was $32 million
•GAAP diluted loss per share was $(0.94)
Results on a non-GAAP basis, excluding the impact of stock compensation, amortization of acquired intangible assets, and certain other items as set forth in the below GAAP to Non-GAAP reconciliation tables were as follows:
•Non-GAAP gross margin was 55.4%
•Non-GAAP operating expenses were $105 million
•Non-GAAP operating loss was $7 million
•Non-GAAP diluted loss per share was $(0.08)
Business Highlights
•Silicon Labs’ first device in its next-generation Series 3 platform on 22nm process technology is now ramping into production. The Series 3 platform will be complementary to Series 2, with advancements in performance, capabilities, and features, including higher levels of compute and AI inference, as well as scalable memory architectures and backwards code compatibility with Series 2.
•Announced its new Series 2 BG29 family of Bluetooth Low Energy (LE) SoCs, designed to bring higher levels of compute and connectivity in ultra-compact form factor without compromising wireless performance. The BG29 family is ideal for today's most intensive Bluetooth LE applications like wearable medical devices, asset trackers, and smart sensors.
•Introduced the BG22L and BG24L SoCs for Bluetooth® LE optimized for common Bluetooth applications like asset tracking tags and small appliances. The BG22L brings the most competitive combination of security, processing power, and connectivity for high-volume, low-power applications. The BG24L SoC also includes the Silicon Labs accelerator for AI/ML applications and support for the latest in Bluetooth Channel Sounding in radio congested areas like warehouses, smart cities, and large residential apartment complexes.


•Announced that its MG26 family of wireless SoCs is now generally available through Silicon Labs and its distribution partners. As the industry's most advanced, high-performance Matter and concurrent multi-protocol solution to date, the MG26 SoC features double the Flash and RAM of other Silicon Labs multi-protocol devices, advanced AI/ML processing, and best-in-class security to empower developers to design future-proof Matter applications.
Business Outlook
The company expects second-quarter revenue to be between $185 to $200 million. The company also estimates the following results:
On a GAAP basis:
•GAAP gross margin to be between 55% to 57%
•GAAP operating expenses of approximately $129 million to $131 million
•GAAP diluted loss per share between $(0.55) to $(0.95)
On a non-GAAP basis, excluding the impact of stock compensation, amortization of acquired intangible assets, and certain other items as set forth in the reconciliation tables:
•Non-GAAP gross margin to be between 55% to 57%
•Non-GAAP operating expenses of approximately $106 million to $108 million
•Non-GAAP diluted earnings (loss) per share between $(0.01) to $0.19
Earnings Webcast and Conference Call
Silicon Labs will host an earnings conference call to discuss the quarterly results and answer questions at 7:30 am CDT today. An audio webcast will be available on Silicon Labs’ website (www.silabs.com) under Investor Relations. In addition, the company will post an audio recording of the event at investor.silabs.com and make a replay available through June 12, 2025.
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 based on Silicon Labs’ current expectations. 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. These forward-looking statements reflect the current views and assumptions of Silicon Labs and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. Among the factors that could cause actual results to differ materially from those in the forward-looking statements are the following: fluctuating changes in global trade policies, including the imposition of tariffs, duties, trade sanctions, or other barriers to international commerce; 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 COVID-19 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; 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. 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.
CONTACT: Thomas Haws, Investor Relations Manager, (512) 416-8500, investor.relations@silabs.com


Silicon Laboratories Inc.
Condensed Consolidated Statements of Operations
(In thousands, except per share data)
(Unaudited)
Three Months Ended
April 5,
2025		March 30,
2024
Revenues$177,714 $106,375 
Cost of revenues79,937 51,306 
Gross profit97,777 55,069 
Operating expenses:
Research and development88,219 80,650 
Selling, general and administrative41,638 33,553 
Operating expenses129,857 114,203 
Operating loss(32,080)(59,134)
Other income (expense):
Interest income and other, net3,793 2,732 
Interest expense(284)(509)
Loss before income taxes(28,571)(56,911)
Provision (benefit) for income taxes1,899 (385)
Net loss$(30,470)$(56,526)
Loss per share:
Basic$(0.94)$(1.77)
Diluted$(0.94)$(1.77)
Weighted-average common shares outstanding:
Basic32,46531,910
Diluted32,46531,910


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
April 5, 2025
Non-GAAP Income Statement ItemsGAAP
Measure		GAAP
Percent of
Revenue		Stock
Compensation
Expense 		Intangible Asset
Amortization		Non-GAAP
Measure		Non-GAAP
Percent of
Revenue
Revenues$177,714 
Gross profit97,777 55.0 %$613 $— $98,390 55.4 %
Research and development88,219 49.6 %12,007 5,437 70,775 39.8 %
Selling, general and administrative41,638 23.4 %7,094 — 34,544 19.4 %
Operating expenses129,857 73.1 %19,101 5,437 105,319 59.3 %
Operating income (loss)(32,080)(18.1 %)19,714 5,437 (6,929)(3.9 %)
Three Months Ended
April 5, 2025
Non-GAAP Loss Per ShareGAAP
Measure		Stock
Compensation
Expense*		Intangible
Asset
Amortization*		Income
Tax
Adjustments		Non-
GAAP
Measure
Net income (loss)$(30,470)$19,714 $5,437 $2,583 $(2,736)
Diluted shares outstanding32,46532,465
Diluted loss per share$(0.94)$(0.08)
*Represents pre-tax amounts


Unaudited Forward-Looking Statements Regarding Business Outlook
(In millions, except per share data)

Three Months Ended
July 5, 2025
Business Outlook
GAAP
Measure
Non-GAAP
Adjustments**
Non-GAAP
Measure
Gross margin
55% to 57%
— %
55% to 57%
Operating expenses
$129 to $131
$(23)
$106 to $108
Diluted earnings (loss) per share
$(0.55) to $(0.95)
$0.74 to $0.94
 $(0.01) to $0.19
**Non-GAAP adjustments include the following estimates: stock compensation expense of $20.5 million, intangible asset amortization of $3.3 million, and the application of a long-term non-GAAP tax rate of 20%.



Silicon Laboratories Inc.
Condensed Consolidated Balance Sheets
(In thousands, except per share data)
(Unaudited)
April 5,
2025		December 28,
2024
Assets
Current assets:
Cash and cash equivalents$324,877 $281,607 
Short-term investments99,928 100,554 
Accounts receivable, net52,066 54,479 
Inventories83,397 105,639 
Prepaid expenses and other current assets58,402 59,754 
Total current assets618,670 602,033 
Property and equipment, net129,707 132,136 
Goodwill376,389 376,389 
Other intangible assets, net31,062 36,499 
Other assets, net73,668 75,617 
Total assets$1,229,496 $1,222,674 
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable$53,819 $42,448 
Deferred revenue and returns liability6,478 3,073 
Other current liabilities59,422 52,362 
Total current liabilities119,719 97,883 
Other non-current liabilities41,358 44,770 
Total liabilities161,077 142,653 
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; 32,473 and 32,458 shares issued and outstanding at April 5, 2025 and December 28, 2024, respectively3 3 
Additional paid-in capital96,838 78,227 
Retained earnings 971,251 1,001,721 
Accumulated other comprehensive income327 70 
Total stockholders’ equity1,068,419 1,080,021 
Total liabilities and stockholders’ equity$1,229,496 $1,222,674 


Silicon Laboratories Inc.
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
Three Months Ended
April 5,
2025		March 30,
2024
Operating Activities
Net loss$(30,470)$(56,526)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation of property and equipment6,248 6,634 
Amortization of other intangible assets5,437 6,079 
Stock-based compensation expense19,714 13,612 
Deferred income taxes(1,514)(5,270)
Changes in operating assets and liabilities:
Accounts receivable2,412 (3,321)
Inventories22,098 (3,958)
Prepaid expenses and other assets2,973 (15,466)
Accounts payable9,234 (13,829)
Other current liabilities and income taxes11,870 1,554 
Deferred revenue and returns liability3,405 1,804 
Other non-current liabilities(3,279)(3,113)
Net cash provided by (used in) operating activities48,128 (71,800)
Investing Activities
Purchases of marketable securities(19,728)(9,794)
Sales of marketable securities10,005 25,763 
Maturities of marketable securities10,675 55,188 
Purchases of property and equipment(4,852)(2,047)
Proceeds from sale of equity investment— 12,382 
Net cash provided by (used in) investing activities(3,900)81,492 
Financing Activities
Payments on debt— (45,000)
Payment of taxes withheld for vested stock awards(958)(1,048)
Proceeds from the issuance of common stock— 341 
Net cash used in financing activities(958)(45,707)
Increase (decrease) in cash and cash equivalents43,270 (36,015)
Cash and cash equivalents at beginning of period281,607 227,504 
Cash and cash equivalents at end of period$324,877 $191,489 

v3.25.1
Cover
May 13, 2025
Cover [Abstract]  
Document Type 8-K
Document Period End Date May 13, 2025
Entity Registrant Name SILICON LABORATORIES INC.
Entity Incorporation, State or Country Code DE
Entity File Number 000-29823
Entity Tax Identification Number 74-2793174
Entity Address, Address Line One 400 West Cesar Chavez
Entity Address, City or Town Austin
Entity Address, State or Province TX
Entity Address, Postal Zip Code 78701
City Area Code 512
Local Phone Number 416-8500
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, $0.0001 par value
Trading Symbol SLAB
Security Exchange Name NASDAQ
Entity Emerging Growth Company false
Amendment Flag false
Entity Central Index Key 0001038074
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