MACOM Reports Fiscal Fourth Quarter and Fiscal Year 2026 Financial Results
MACOM Technology Solutions Holdings, Inc. (MTSI) filed an SEC Form 8-K — Results of Operations and Financial Condition. MACOM Reports Fiscal Fourth Quarter and Fiscal Year 2026 Financial Results LOWELL, MA, November 5, 2026 – MACOM Technology Solutions Holdings, Inc. (“MACOM”) (Nasdaq: MT SI), a leading supplier of semiconductor products, t oday announced its financial results for its fiscal fourt
How this was made
The 30-second read
Why it matters
The earnings beat and issued guidance are likely to drive short‑term buying.
Market read
Strong earnings and guidance could boost MACOM and related semiconductor stocks.
What to watch
Potential supply-chain constraints or reduced defense spending could temper growth.
MACOM reported fiscal fourth-quarter revenue of $424.8 million, up 62.7% year over year and 24.1% sequentially, with GAAP diluted EPS of $1.78 and adjusted diluted EPS of $2.09.
Fourth-quarter and full-year revenue, gross margin, operating income and adjusted EPS increased substantially versus the comparable prior-year periods, while first-quarter fiscal 2027 guidance calls for further sequential revenue and adjusted-margin expansion.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Q4 fiscal 2026 revenueGAAP | $424.8M | 24.1% | 62.7% |
| Q4 fiscal 2026 cost of revenueGAAP | $170.2M | – | – |
| Q4 fiscal 2026 gross profitGAAP | $254.6M | – | – |
| Q4 fiscal 2026 gross marginGAAP | 59.9% | – | – |
| Q4 fiscal 2026 research and development expenseGAAP | $76.08M | – | – |
| Q4 fiscal 2026 selling, general and administrative expenseGAAP | $44.33M | – | – |
| Q4 fiscal 2026 total operating expensesGAAP | $120.4M | – | – |
| Q4 fiscal 2026 income from operationsGAAP | $134.2 million, or 31.6% of revenue | – | – |
| Q4 fiscal 2026 interest incomeGAAP | $7.33M | – | – |
| Q4 fiscal 2026 interest expenseGAAP | −$1.48M | – | – |
| Q4 fiscal 2026 gain on investment fair valueGAAP | $19.45M | – | – |
| Q4 fiscal 2026 income before income taxesGAAP | $159.5M | – | – |
| Q4 fiscal 2026 income tax expenseGAAP | $20.08M | – | – |
| Q4 fiscal 2026 net incomeGAAP | $139.4M | – | – |
| Q4 fiscal 2026 diluted earnings per shareGAAP | $1.78 per diluted share | – | – |
| Q4 fiscal 2026 basic earnings per shareGAAP | $1.83 per basic share | – | – |
| Q4 fiscal 2026 adjusted gross profitnon-GAAP | $260.3M | – | – |
| Q4 fiscal 2026 adjusted gross marginnon-GAAP | 61.3% | – | – |
| Q4 fiscal 2026 adjusted operating expensesnon-GAAP | $98.08M | – | – |
| Q4 fiscal 2026 adjusted income from operationsnon-GAAP | $162.3 million, or 38.2% of revenue | – | – |
| Q4 fiscal 2026 adjusted EBITDAnon-GAAP | $171,494 (unaudited and in thousands), or 40.4% of revenue | – | – |
| Q4 fiscal 2026 adjusted net incomenon-GAAP | $163.3M | – | – |
| Q4 fiscal 2026 adjusted diluted earnings per sharenon-GAAP | $2.09 per diluted share | – | – |
| Fiscal year 2026 revenueGAAP | $1.33B | – | 37.3% |
| Fiscal year 2026 gross profitGAAP | $770.4M | – | – |
| Fiscal year 2026 gross marginGAAP | 58.0% | – | – |
| Fiscal year 2026 income from operationsGAAP | $305.5M | – | – |
| Fiscal year 2026 net incomeGAAP | $335.3M | – | – |
| Fiscal year 2026 diluted earnings per shareGAAP | $4.31 per diluted share | – | – |
| Fiscal year 2026 adjusted gross marginnon-GAAP | 59.5% | – | – |
| Fiscal year 2026 adjusted income from operationsnon-GAAP | $424.4 million, or 32.0% of revenue | – | – |
| Fiscal year 2026 adjusted EBITDAnon-GAAP | $460,323 (unaudited and in thousands), or 34.7% of revenue | – | – |
| Fiscal year 2026 adjusted net incomenon-GAAP | $435.7M | – | – |
| Fiscal year 2026 adjusted diluted earnings per sharenon-GAAP | $5.60 per diluted share | – | – |
Amounts quoted below without a unit are in thousands, as in the filing’s tables. Per-share figures are as printed.
fiscal first quarter ending January 1, 2027 outlook
- Revenue$450 million to $460 million
- Gross marginAdjusted gross margin is expected to be between 62.0% and 63.0%
- Tax ratean anticipated non-GAAP income tax rate of 6%
- NoteAdjusted earnings per diluted share is expected to be between $2.21 and $2.29
- Note79.0 million fully diluted shares outstanding
What drove it
- Q4 fiscal 2026 revenue increased 62.7% compared to the previous year fiscal fourth quarter and 24.1% compared to the prior fiscal quarter.
- Q4 GAAP gross margin was 59.9%, compared with 54.5% in the previous year fiscal fourth quarter and 58.3% in the prior fiscal quarter.
- Q4 adjusted gross margin was 61.3%, compared with 57.1% in the previous year fiscal fourth quarter and 59.7% in the prior fiscal quarter.
- Fiscal year 2026 GAAP income from operations was $305.5 million, compared to $129.7 million in fiscal year 2025.
- Fiscal year 2026 included a $60,989 (unaudited and in thousands) gain on investment fair value.
Concerns
- Fiscal year 2025 net loss included a primarily non-cash charge of $193.1 million for loss on extinguishment of debt related to the refinancing of a portion of the convertible senior notes due 2026.
- Q4 fiscal 2026 GAAP net income included a $19,446 (unaudited and in thousands) gain on investment fair value, while the prior fiscal quarter included a $41,543 (unaudited and in thousands) gain.
- Accounts receivable were $209,523 (unaudited and in thousands) and inventories were $284,311 (unaudited and in thousands) at October 2, 2026, compared with $148,646 (unaudited and in thousands) and $237,844 (unaudited and in thousands), respectively, at October 3, 2025.
- The filing identifies risks including supply-chain disruptions, tariffs and other trade restrictions, demand forecasting and inventory management, customer concentration, manufacturing-capacity execution, and changes in government defense budgets and spending priorities.
What to watch
- Fiscal first-quarter fiscal 2027 revenue guidance of $450 million to $460 million.
- Fiscal first-quarter fiscal 2027 adjusted gross-margin guidance of 62.0% to 63.0%.
- Fiscal first-quarter fiscal 2027 adjusted diluted EPS guidance of $2.21 to $2.29, using an anticipated non-GAAP income tax rate of 6% and 79.0 million fully diluted shares outstanding.
- The expected increase in the non-GAAP income tax rate to approximately 6% for fiscal year 2027, primarily as a result of growth in profitability and utilization of remaining historical deferred tax assets.
- Cash flow from operations, capital expenditures, manufacturing-capacity expansion, and the conversion of development program awards and customer contract awards into production revenue.
Balance sheet and cash flow
- Cash and cash equivalents were $112,011 (unaudited and in thousands) at October 2, 2026, compared to $112,142 (unaudited and in thousands) at October 3, 2025.
- Short-term investments were $680,396 (unaudited and in thousands) at October 2, 2026, compared to $673,833 (unaudited and in thousands) at October 3, 2025.
- Long-term investments were $121,577 (unaudited and in thousands) at October 2, 2026, compared to — at October 3, 2025.
- Short-term debt was $340,743 (unaudited and in thousands) at October 2, 2026, compared to $160,946 (unaudited and in thousands) at October 3, 2025.
- Long-term debt was — at October 2, 2026, compared to $339,630 (unaudited and in thousands) at October 3, 2025.
- Net cash provided by operating activities was $357,086 (unaudited and in thousands) for fiscal year 2026, compared to $235,368 (unaudited and in thousands) for fiscal year 2025.
- Purchases of property and equipment were $64,420 (unaudited and in thousands) for fiscal year 2026, compared to $42,551 (unaudited and in thousands) for fiscal year 2025.
- Net cash used in investing activities was $147,932 (unaudited and in thousands) for fiscal year 2026, compared to $328,263 (unaudited and in thousands) for fiscal year 2025.
- Repayment of convertible notes was $161,151 (unaudited and in thousands) for fiscal year 2026.
- Net cash used in financing activities was $209,156 (unaudited and in thousands) for fiscal year 2026, compared to net cash provided by financing activities of $58,099 (unaudited and in thousands) for fiscal year 2025.
Analysis
MACOM closed fiscal 2026 with substantial fourth-quarter acceleration. Revenue was $424.8 million, up 62.7% from $261.2 million in the previous year fiscal fourth quarter and 24.1% from $342.2 million in the prior fiscal quarter. Fiscal-year revenue was $1,327.6 million, an increase of 37.3% from $967.3 million in fiscal year 2025. The release does not provide revenue by end market or reportable segment, so the relative contributions from Industrial and Defense, Data Center and Telecommunications are not disclosed.
Profitability expanded materially. Fourth-quarter GAAP gross margin was 59.9%, versus 54.5% a year earlier and 58.3% sequentially, while adjusted gross margin was 61.3%, versus 57.1% and 59.7%, respectively. GAAP income from operations rose to $134.2 million, or 31.6% of revenue, from $39.6 million, or 15.2% of revenue, a year earlier. Adjusted income from operations reached $162.3 million, or 38.2% of revenue, compared with $67.0 million, or 25.6% of revenue, in the prior-year quarter.
Fourth-quarter GAAP net income was $139.4 million, or $1.78 per diluted share, and adjusted net income was $163.3 million, or $2.09 per diluted share. GAAP results included a $19,446 (unaudited and in thousands) gain on investment fair value. For the full year, GAAP net income was $335.3 million, or $4.31 per diluted share, compared with a net loss of $54.2 million, or $0.73 per diluted share, in fiscal year 2025. The fiscal 2025 loss included a primarily non-cash $193.1 million loss on extinguishment of debt.
Cash generation strengthened, with fiscal-year net cash provided by operating activities of $357,086 (unaudited and in thousands), compared with $235,368 (unaudited and in thousands) in fiscal 2025. The company reported $112,011 (unaudited and in thousands) of cash and cash equivalents, $680,396 (unaudited and in thousands) of short-term investments and $121,577 (unaudited and in thousands) of long-term investments at October 2, 2026. The debt structure changed during the year: short-term debt was $340,743 (unaudited and in thousands), while long-term debt was —, following $161,151 (unaudited and in thousands) of convertible-note repayments.
For the fiscal first quarter ending January 1, 2027, MACOM guided to revenue of $450 million to $460 million, adjusted gross margin of 62.0% to 63.0%, and adjusted diluted EPS of $2.21 to $2.29. The outlook implies continued sequential growth from fourth-quarter revenue and further adjusted gross-margin expansion from 61.3%, based solely on the reported figures. Management also expects its non-GAAP income tax rate to increase to approximately 6% for fiscal year 2027 from the 3% utilized for fiscal years 2026 and 2025.
Management, verbatim
We had a strong fiscal year 2026 and look forward to continued growth in fiscal 2027.
Stephen G. Daly, President and Chief Executive Officer, MACOM
Not in the filing
stated, not guessed- Revenue by reportable segment or end market was not reported.
- Free cash flow was not reported.
- Share repurchases and dividends were not reported.
- GAAP operating-expense guidance was not provided.
- Prior-period outlook was not provided, so actual performance versus prior guidance cannot be assessed.
- No fiscal first-quarter fiscal 2027 GAAP revenue, GAAP gross margin, GAAP EPS, operating-expense, or cash-flow guidance was provided.
- No quantified bookings, backlog, book-to-bill, customer concentration, or manufacturing-capacity metrics were reported.
Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was checked against the filing text, and a metric whose value, prior period and change do not add up is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
MACOM filed an 8‑K reporting FY 2026 results and Q1 2027 outlook.
Ticker impact
MACOM reported FY 2026 revenue of $1.33B, a 37% increase YoY, and issued guidance for Q1 2027 revenue of $450M‑$460M.
likely upward as investors price in higher revenue and margins
The earnings beat and issued guidance indicate improved profitability and growth, prompting buying interest.
Market effects
Positive for semiconductor RF/microwave segment, may lift peers.
U.S. semiconductor sector could see modest gains.
Limited to tech hardware supply chain.
Counterpoint
If macro slowdown persists, the guidance may be overly optimistic.
Key entities
- companyMACOM Technology Solutions Holdings, Inc.
Semiconductor supplier reporting FY 2026 results.
