Lattice Semiconductor Corporation

Q2 FY26Semiconductors and Semiconductor Equipment

Lattice Semiconductor Corporation Q2 FY26 Results — Earnings Call Analysis

Q2 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹147

Market cap₹20.2K Cr

P/E1,073.9

Updated29 May 2026

Read4 min read

What the Q2 FY26 call signalled

3 of 4 strong

RevenueStrong growth

MarginMargins steady

CapexCapex planned

Order bookOrder book rising

The short version

- Lattice Semiconductor expects strong growth well into 2027 with bookings building a strong backlog (Page 12). - Lattice expects strong growth momentum to continue through 2026, with Q2 revenue guidance at $175M-$195M, nearly 50% year-over-year growth.

From Lattice Semiconductor Corporation's Q2 FY26 earnings-call transcript · updated 29 May 2026.

Revenue & Sales Performance

Strong growth

Lattice Semiconductor expects strong growth well into 2027 with bookings building a strong backlog (Page 12).
Revenue guidance for Q2 2026 is $175 million to $195 million, representing nearly 50% year-over-year growth (Pages 3-4).
Compute and Communications end market revenue up 86% YoY, driven by data center AI applications (Page 3).
Industrial and embedded markets grew 21% quarter-over-quarter, with growth expected to continue but at a more moderate pace than Q1 (Pages 3, 11).
Server business expected at around 38% of total revenue by 2026, with AI-related revenue reaching approximately 25% (Page 5).
AMI acquisition expected to roughly double the served available market from $6B to $12B over 3-4 years, accelerating revenue growth (Page 5).

2 more points management made on revenue & sales performance

Profitability & Margins

Lattice expects strong growth momentum to continue through 2026, with Q2 revenue guidance at $175M-$195M, nearly 50% year-over-year growth.
Q2 non-GAAP EPS is projected between $0.42 and $0.46, reflecting approximately 80% year-over-year earnings growth.
First quarter non-GAAP EPS grew by over 80% year-over-year to $0.41.
Operating margin expanded by 370 basis points in Q1 to 34.4%, showing strong operating leverage.
The company anticipates sustained above-market revenue growth driven by data center AI, compute and communications, and industrial/embedded markets.

2 more points management made on profitability & margins

See what Lattice Semiconductor Corporation said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Capex planned

There is no explicit mention of current or future capital expenditures (capex) or strategic investments in the provided transcript pages.
The focus is on the acquisition of AMI, a strategic $1.65 billion deal combining Lattice's low-power FPGAs with AMI's platform firmware and manageability software, which is expected to double the served available market.
The acquisition emphasizes system-level solutions, growing revenue, and strategic expansion rather than specific capital investments.
Discussions highlight expanding supply chain capacity, especially at the assembly and test stage, to address supply constraints, which may implicitly involve operational investments.

2 more points management made on capital expenditure plans

Fundraising & Capital Structure

The company recently issued $650 million of equity as part of the AMI acquisition deal.
THL Partners, who invested in the equity issuance, are subject to a lockup period of 12 months post-close, releasing 25% per quarter.
There is no explicit mention of any new or planned fundraising through additional debt or equity beyond this.
The executives emphasized the ability to deleverage quickly post-acquisition due to strong free cash flow (~40%) and accretive nature of the AMI deal.

2 more points management made on fundraising & capital structure

See what Lattice Semiconductor Corporation said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

Order book rising

Bookings are strong and extend well into 2027.
There is a growing backlog building up due to increased demand.
Lead times are expanding, indicating strong order volumes.
Demand visibility is improving with customers continuing to increase their bookings.
The company has high confidence in sustained strong growth supported by this robust orderbook.

2 more points management made on order book & pipeline

Others in Semiconductors and Semiconductor Equipment this season

FormFactor, Inc. (Q2 FY26)
FormFactor, Inc. Q2 FY26 quarterly results analysis. FormFactor expects continued strong revenue growth, with Q2 2026 guidance at $240 million ± $5 million, up
Skyworks Solutions, Inc. (Q2 FY26)
Skyworks Solutions, Inc. Q2 FY26 quarterly results analysis. Revenue opportunity expected to rise year-over-year, acting as a growth tailwind through 2030 (Page
Onto Innovation Inc. (Q2 FY26)
Onto Innovation Inc. Q2 FY26 quarterly results analysis. Advanced packaging revenue expected to grow more than 50% in 2026, driven by Dragonfly G5 and panel-lev
Nova Ltd. (Q2 FY26)
Nova Ltd. Q2 FY26 quarterly results analysis. Nova expects robust growth driven by advanced DRAM, Logic (including gate-all-around), and advanced packaging mark

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Frequently Asked Questions

What were Lattice Semiconductor Corporation Q2 FY26 results?

What is Lattice Semiconductor Corporation share price analysis?

Lattice Semiconductor Corporation currently shows a strong growth signal based on ranking data. The stock trades at a P/E of 1073.9 with a market cap of $20,183. Investors should review the full earnings analysis for detailed insights.

Is Lattice Semiconductor Corporation planning capital expenditure?

- There is no explicit mention of current or future capital expenditures (capex) or strategic investments in the provided transcript pages.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.