Silicon Motion Technology-ADR · Q3 2025 earnings

Briefing

Silicon Motion Q3 revenue $242.0M (+22% QoQ, +14% YoY) beats guide; non-GAAP EPS $1.00

Silicon Motion reported Q3 2025 net sales of $242.0 million, up 22% sequentially from $198.7 million and 14% year over year, exceeding the high end of guidance on strong mobile and PCIe Gen5 controller demand. GAAP gross margin was 48.6% and non-GAAP gross margin 48.7%; non-GAAP operating margin expanded to 15.8%. GAAP net income was $39.1 million ($1.16 per diluted ADS) and non-GAAP net income was $33.8 million ($1.00 per ADS). SSD controller sales rose 20–25% quarter over quarter, eMMC/UFS controllers grew 35–40% YoY, while SSD solutions declined 40–45% YoY. Management guided Q4 revenue of $254–266 million (+5–10% QoQ) with non-GAAP gross margin of 48.5–49.5% and operating margin of 19–20%, targeting a $1 billion annual revenue run rate by year-end.

• Q3 revenue $242.0M (+22% QoQ, +14% YoY), above guided range
• GAAP EPS $1.16; non-GAAP EPS $1.00 on $33.8M adjusted net income
• Non-GAAP gross margin 48.7%; non-GAAP operating margin 15.8%
• Mobile controller rebound and PCIe Gen5 client SSD strength drove outperformance
• Q4 revenue guide $254–266M; targeting $1B annual revenue run rate by year-end

Headline financials

Revenue & EPS history

Q4 2025 revenue expected at $254–266 million (+5–10% QoQ, +33–39% YoY) with non-GAAP gross margin of 48.5–49.5% and operating margin of 19–20%, approaching historical profitability levels.