Synaptics (SYNA) Q3 2026 earnings summary

Executive summary

• Q3 FY2026 revenue reached $294.2 million, up 10.4% year-over-year, driven by a 31% increase in Core IoT product sales and favorable product mix.

• Non-GAAP EPS was $1.09, up 21% year-over-year; GAAP net loss was $8.0 million or $(0.21) per share.

• Strong momentum in Physical AI, Edge AI, and robotics, with expanding customer engagements and new design wins.

• Cash and cash equivalents plus short-term investments totaled $404.4 million at quarter end.

• Launched next-gen Coral Dev Board with Google, integrating Astra processor and Coral NPU.

Financial highlights

• Q3 FY2026 revenue: $294.2 million, up 10.4% year-over-year, above guidance midpoint.

• Core IoT revenue grew 31% year-over-year; enterprise/automotive up 9%; mobile touch down 16%.

• Non-GAAP gross margin was 53.6%; GAAP gross margin 45.3%; non-GAAP operating margin 18.1%.

• Non-GAAP net income was $44.1 million; non-GAAP operating income $53.1 million.

• Ended Q3 with $404.4 million in cash and equivalents; $39 million in share repurchases during Q3.

Outlook and guidance

• Q4 FY2026 revenue expected at $305 million midpoint (±$10 million).

• Q4 revenue mix: 33% core IoT, 54% enterprise/automotive, 13% mobile touch.

• Q4 non-GAAP gross margin guided at 53.5% midpoint (±1%).

• Q4 non-GAAP EPS expected at $1.20 midpoint (±$0.15) on 40.4 million diluted shares.

• Full-year FY2026 Core IoT revenue expected to grow over 40% year-over-year to $385 million+.