Key Highlights

  • Fiscal third-quarter 2026 Revenue set a record at $291.0 million, a 118.3% rise against $133.3 million in the prior-year period.
  • On a non-GAAP basis, diluted EPS came to $0.72 compared with $0.28 twelve months earlier, while the GAAP figure was $0.08.
  • FPGA revenue reached about $252 million, growing roughly 90% annually, while Compute and Communications surged 132%.
  • AMI generated $39.1 million in revenue across the roughly two months it was owned following its July 27, 2026 purchase.
  • Fourth-quarter revenue should land between $325 million and $345 million, with per-share non-GAAP Earnings running $0.82 to $0.86.

Data Center AI Demand Pushes Lattice Semiconductor Quarterly Revenue to a High

Lattice Semiconductor (NASDAQ:LSCC) released figures covering fiscal third quarter activity that closed Oct 3, 2026, with publication on Nov 2, 2026. Sales of $291.0 million grew 118.3% from the $133.3 million recorded in the prior-year period, and climbed 44.7% over the second quarter's level. The firm builds low-power programmable semiconductors, known as FPGAs, plus platform firmware that followed a recent acquisition.

Leadership attributed FPGA revenue growth of roughly 90% year over year to demand for Data Center AI, plus a rebound in industrial and embedded end markets. The Compute and Communications line brought in $171.9 million, versus $74.0 million in the year-earlier period, an increase of approximately 132% (calculated). The Industrial and Embedded line reached $80.0 million, about 35% higher (calculated) than the $59.3 million prior-year figure.

Acquisition Costs Weigh on GAAP Results While Non-GAAP EPS Hits $0.72

GAAP Net Income totaled $11.2 million, equal to $0.08 per diluted share. The prior-year figure was $2.8 million, which was $0.02 per share, and the second quarter produced $19.4 million. GAAP gross Margin landed at 67.4%, while income from operations reached $24.0 million, compared with an operating loss of $1.5 million in the year-earlier period.

Non-GAAP net income climbed to $103.7 million, which works out to $0.72 per diluted share, up from $0.28 a year before. The non-GAAP gross margin sat at 70.9%, a 140-basis-point improvement, and non-GAAP Operating Income hit $119.6 million. Adjusted EBITDA came to $131.0 million, equivalent to a 45.0% margin compared with 35.6% a year prior.

Cash generated from operations reached $95.0 million, equal to a 32.7% margin, while non-GAAP free Cash Flow stood at $77.6 million, which is 26.7% of revenue.

AMI Contributes $39.1 Million as Debt Repayment Gets Underway

The AMI transaction closed on July 27, 2026, so the third-quarter numbers reflect about two months of its operations. AMI generated $39.1 million in revenue, which is 13% of the company total.

Long-term debt totaled $869.1 million as of quarter end, with cash of $128.3 million on hand. During the period the firm retired $50 million of borrowings and projects net Leverage under 2x EBITDA by year-end 2026. Management intends to pay down debt more aggressively in 2027 while continuing to weigh opportunistic buybacks.

Fourth-Quarter Forecast Points to an Annualized Pace Above $1.3 Billion

Turning to the fourth quarter of 2026, Lattice anticipates sales to fall within $325 million to $345 million, which equals roughly 130% annual growth at the midpoint. Non-GAAP gross margin is expected at 72.0% give or take 1%, operating expenses on a non-GAAP basis are expected between $95 million and $101 million, and per-share non-GAAP earnings are projected between $0.82 and $0.86.

Management said the forecast suggests 2026 revenue close to $1 billion, while non-GAAP EPS is near $2.50, and anticipates growth of 60% or more in 2027.