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Soitec reported Q3’26 revenue of €160 million for the quarter ended December 31, 2025, up 18% versus Q2’26 at constant exchange rates and scope, and down 29% year on year as reported (-22% at constant exchange rates and scope, with a -7% currency impact). Management expects Q4’26 revenue to grow around 20% quarter on quarter at constant exchange rates and scope.
CEO Pierre Barnabé said the quarter outperformed guidance on solid execution but reiterated a cautious stance: strong momentum in Artificial Intelligence continues to be offset by ongoing RF-SOI inventory correction and softness in Automotive. Soitec is targeting positive free cash flow in FY’26, with revenue stabilization and improving cash generation as inventory normalization progresses, while continuing disciplined cost and cash management and selective investments in diversification.
Q3’26 end-market highlights
- Mobile Communications (56% of revenue): €90 million, down 36% year on year at constant exchange rates and scope, reflecting continued RF-SOI inventory reduction despite a richer premium device mix. POI was slightly down year on year but improved sequentially; Tier-1 U.S. fabless demand is building. FD-SOI for 5G mmWave continues to advance, including a recent design win for U.S. flagship smartphones.
- Edge & Cloud AI (34%): €54 million, up 27% year on year at constant exchange rates and scope, supported by AI-driven demand across Edge and Cloud. Photonics-SOI maintained strong momentum in data-center interconnects, including pluggable transceivers and CPO. FD-SOI rose year on year and sequentially on AI-enabled IoT, with leading AI wearables launched on FD-SOI in Q3’26.
- Automotive & Industrial (10%): €16 million, down 32% year on year at constant exchange rates and scope, though up sequentially. Power-SOI volumes remained low given weak auto demand and delivery phasing under an LTA, with higher volumes expected in the March quarter. FD-SOI adoption continued across auto and industrial, with volume growth paced by long qualification cycles. SmartSiC activity remained limited and focused on qualifications.
Q4’26 revenue is expected to grow around 20% quarter on quarter at constant exchange rates and scope. Mobile Communications should improve sequentially but remain down year on year as inventory adjustments continue. Edge & Cloud AI should sustain solid year-on-year momentum on Photonics-SOI and FD-SOI. Automotive & Industrial is expected to stay subdued for the year, with Q4’26 supported by seasonal deliveries under a specific contract. Soitec continues to optimize its cost structure, strengthen cash generation, and invest selectively in its technology roadmap to support future profitable growth.
Original – Soitec
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Siltronic AG reported preliminary, unaudited 2025 results in line with guidance: sales of EUR 1,347 million, down 4.7% year over year (2024: EUR 1,412.8 million). Wafer area sold increased versus 2024, supported by stronger end-market momentum through the year and higher demand for 300 mm products. The sales decline reflected the phased closure of the SD line in Burghausen (≤150 mm polished and epi wafers), which accounted for more than one-third of the negative variance, as well as elevated 200 mm inventories, price effects outside LTAs, and US-dollar depreciation.
Preliminary EBITDA was EUR 317 million (2024: EUR 363.8 million), for an EBITDA margin of 23.5% (2024: 25.8%), within the 22–24% target range. Cost of sales rose on higher wafer volumes and increased depreciation (EUR 343 million vs. EUR 238.5 million), driven in part by the start of depreciation for major portions of the new Singapore fab from August 2025. EBIT was EUR -26 million (2024: EUR 125.2 million), with an EBIT margin of -2.0% (2024: 8.9%).
Capital expenditure, including intangibles, declined to a provisional EUR 369 million (2024: EUR 523.4 million), improving net cash flow to EUR -85 million (2024: EUR -297.0 million). Net financial debt stood at EUR 837 million at year-end (2024: EUR 733.5 million).
Preliminary Q4 sales were EUR 372 million, significantly above Q3 (EUR 300.3 million), reflecting delivery shifts from Q3 and early 2026 into Q4. Q4 EBITDA increased to EUR 86 million (Q3: EUR 65.8 million), with a 23.3% margin (Q3: 21.9%). Q4 EBIT was EUR -34 million (Q3: EUR -31.4 million). Capex was EUR 62 million (Q3: EUR 85.5 million). Preliminary Q4 net cash flow improved to EUR 102 million (Q3: EUR -30.6 million), supported by stronger operating cash flow, timing differences between capex accounting and payment in early 2026, and investment grants received in Q4.
Siltronic expects a continued challenging environment in 2026, marked by price pressure outside LTAs and adverse FX. While demand in 300 mm is growing, the 200 mm segment remains under pressure due to elevated inventories. Delivery shifts pulled into Q4 2025 will weigh on the first half of 2026, and the SD line closure will impact the full year for the first time. The company will publish its 2026 guidance after completing its assessment of these headwinds and remains focused on cost reduction, active cash management, and disciplined investment to support its positioning as a leading supplier of high-tech wafer solutions.
Original – Siltronic
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NXP Semiconductors N.V. reported fourth quarter revenue of $3.34 billion, surpassing the midpoint of guidance and reflecting sequential improvement across all end markets. Management cited disciplined execution through a challenging first half of 2025 and continued progress on strategic priorities in software-defined vehicles and physical AI.
Quarter and full-year highlights:
- Q4 revenue: $3.34 billion, up 7% year over year. Full-year revenue: $12.27 billion, down 3% year over year.
- Q4 GAAP metrics: gross margin 54.2%, operating margin 22.3%, diluted EPS $1.79. FY25 GAAP: gross margin 54.7%, operating margin 24.8%, diluted EPS $7.95.
- Q4 non-GAAP metrics: gross margin 57.4%, operating margin 34.6%, diluted EPS $3.35. FY25 non-GAAP: gross margin 56.8%, operating margin 33.1%, diluted EPS $11.81.
- Cash generation: Q4 cash flow from operations $891 million; net capex $98 million; non-GAAP free cash flow $793 million (23.8% of revenue). FY25 cash flow from operations $2.82 billion; net capex $395 million; non-GAAP free cash flow $2.425 billion (19.8% of revenue).
- Capital return: Q4 total $592 million (share repurchases $338 million; dividends $254 million), equal to 74.7% of Q4 non-GAAP free cash flow. FY25 capital return $1.924 billion (79.3%). Post-quarter, additional $36 million of repurchases were executed under a 10b5-1 program.
Operational and portfolio updates:
- Announced Trimension SR150 UWB enabling precise location for Jedsy X medical delivery drones (Oct 7, 2025).
- Introduced i.MX 952 applications processor leveraging the integrated eIQ Neutron NPU for AI-driven vision, HMI and in-cabin sensing (Oct 21, 2025).
- Completed acquisitions of Aviva Links ($243 million) and Kinara ($307 million) to strengthen edge intelligence (Oct 24 and Oct 27, 2025).
- Redeemed $500 million of 5.350% senior unsecured notes due March 1, 2026 (Jan 5, 2026).
- Completed sale of the MEMS sensors business line for $900 million in cash plus up to $50 million in contingent consideration (Feb 2, 2026).
“NXP delivered quarterly revenue of $3.34 billion, surpassing the midpoint of our guidance and reflecting sequential improvement across all end markets,” said Rafael Sotomayor, President and Chief Executive Officer. “These actions, combined with an improving demand environment, position NXP for profitable revenue growth. We remain committed to disciplined investment, margin expansion and portfolio optimization to drive sustainable, long-term value for our shareholders.”
Original – NXP Semiconductors
