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