Silicon Motion Technology Corporation Q1 2026 Earnings Release

Silicon Motion Technology Corporation announced its financial results for the quarter ended March 31, 2026. Net sales increased by 23% sequentially and 105% year-over-year to $342.1 million. Gross margin was 47.1% (GAAP) and 47.2% (Non-GAAP). Operating margin was 15.3% (GAAP) and 18.2% (Non-GAAP). Earnings per diluted ADS were $1.97 (GAAP) and $1.58 (Non-GAAP). The company saw strong growth in eMMC & UFS controllers and Ferri and boot drive solutions, while SSD controller sales saw a sequential decrease but year-over-year increase. For the second quarter of 2026, management expects revenue between $393 million and $411 million, representing a 15-20% sequential increase and a 98-107% year-over-year increase. The company anticipates continued sequential growth throughout the year due to new product ramps and market share gains.