Lattice Semiconductor Corporation announced financial results for the fiscal third quarter ended October 3, 2026, reporting record revenue of $291.0 million. This figure represents an 118% year-over-year increase and a 44.7% sequential increase compared to the prior quarter. The company reported GAAP net income of $11.2 million, or $0.08 per diluted share, and a GAAP gross margin of 67.4%. On a non-GAAP basis, the company reported net income of $103.7 million, or $0.72 per diluted share, with a gross margin of 70.9%.
The company completed the acquisition of AMI on July 27, 2026, and its results for the third quarter include AMI’s performance from that date. The company noted that revenue from new products grew more than 70% year over year. Management highlighted that FPGA revenue grew approximately 90% year over year, driven by demand in compute and communications sectors, as well as continued momentum in industrial and embedded applications.
- Q3 2026 Financials: Revenue of $291.0 million; GAAP net income of $11.2 million ($0.08 per share); Non-GAAP net income of $103.7 million ($0.72 per share).
- Gross Margins: GAAP gross margin of 67.4%; Non-GAAP gross margin of 70.9%.
- Operating Cash Flow: GAAP operating cash flow of $95.0 million with a margin of 32.7%; Non-GAAP free cash flow of $77.6 million with a margin of 26.7%.
For the fourth quarter of 2026, Lattice provided the following guidance: revenue is expected to be between $325 million and $345 million; non-GAAP gross margin is expected to be 72.0% plus or minus 1%; non-GAAP net income per share is expected to be between $0.82 and $0.86. The company also announced the launch of several new products, including the Lattice Mach-N2 family of FPGAs and Lattice Sentry 5.0 firmware, and highlighted collaborations with Arm, AMD, and NVIDIA to advance AI infrastructure solutions.
