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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.
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Soitec announced that its Board of Directors has appointed Laurent Rémont as Chief Executive Officer, effective April 1, 2026.
Rémont, 54, currently serves as Senior Vice President at Infineon Technologies, where he led the Radio Frequency and Sensors business. He previously was Chief Technology Officer at Kontron AG and spent more than fifteen years at STMicroelectronics in general management and R&D roles. His international background spans markets central to Soitec’s strategy—including mobile communications, automotive and artificial intelligence—and brings extensive experience managing complex technological and industrial operations.
The Board underscored its intent to build on the Group’s recent progress, enhancing the value of Soitec’s diversified product and technology portfolio—particularly around AI—and seizing opportunities across the semiconductor market. “We are convinced that Laurent Rémont has all the right attributes to lead Soitec into the next stage of its development,” said Frédéric Lissalde, Chairman of Soitec’s Board of Directors. “His knowledge of the semiconductor industry and value chains, upstream and downstream, is a great match for the profile the Board was seeking to oversee implementation of the Group’s strategic priorities. We were particularly impressed by his innovative mindset, his strategic vision and his proven ability to design and deploy transformative roadmaps. I would like to thank Pierre Barnabé for his ongoing commitment during a particularly demanding period for Soitec.”
“I am proud to join Soitec and grateful for the trust placed in me,” said Laurent Rémont. “Our industry is undergoing rapid change, driven by innovation and the emergence of new technologies that are profoundly transforming how we use technology. Soitec plays a key role at the heart of these transformations, and I look forward to working alongside the management team and all employees to build the next phase of the Group’s development.”
Rémont will join Soitec on March 16, 2026, as a special advisor to CEO Pierre Barnabé before succeeding him at the beginning of the following month. Pierre Barnabé, who announced his resignation on October 1, 2025, will step down on March 31, 2026.
The appointment follows a rigorous selection process led by the Board of Directors and recommended by the Board’s Compensation, Nominations and Board Governance Committee. Rémont’s appointment as a director remains subject to shareholder approval at Soitec’s Annual General Meeting in July 2026; subject to that approval, his three-year term as director will commence on that date.
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Quobly announced a major step in building its industrial value chain, with the first custom 28Si FD-SOI wafers from Soitec now running in STMicroelectronics’ 300 mm manufacturing facilities in Crolles, France. The achievement—part of the companies’ strategic collaboration—establishes a fully integrated pathway from advanced materials to quantum integrated circuits and marks a global first for FD-SOI with a 28Si-enriched channel. It advances Quobly’s roadmap toward million-qubit technology and accelerates the industrialization of quantum processor units (QPUs).
“The industrial availability of purified isotope 28 FD-SOI wafers is a game changer for quantum technologies. It allows us to anchor our developments in a solid and proven supply chain from purified gas to quantum chip delivery—a key enabler for achieving our quantum performance targets,” said Nicolas Daval, Chief Engineering Officer of Quobly.
“We are proud to see Soitec’s advanced substrates contributing to the emergence of Europe’s quantum ecosystem. This milestone illustrates how our expertise in engineering semiconductor materials can enable the next generation of quantum technologies,” said Christophe Maleville, Chief Technology Officer, Senior Executive VP Innovation of Soitec.
Manufactured on Soitec’s industrial lines, the new 28Si FD-SOI substrates are engineered to eliminate isotopic impurities, significantly reducing quantum noise and enabling single-qubit gate fidelities approaching 99.999%—a foundation for reliable, scalable silicon-based quantum processors.
By combining the FD-SOI platform—a low-noise, CMOS-compatible architecture—with a 28Si-enriched channel, Quobly creates a scalable path to silicon-based quantum processors that benefits from mature, robust industrial semiconductor processes. The approach underpins the transition from millions of physical qubits to thousands of logical qubits, with the potential to unlock advances in materials discovery, energy optimization and biotechnological modeling.
The collaboration aligns the strengths of each partner: Soitec for industrial manufacturing of advanced substrates, STMicroelectronics for technology validation and processing in a high-volume 300 mm fab, and Quobly for quantum device development. With the first wafer lots in production at Crolles and ongoing process development leveraging STMicroelectronics’ 28 nm FD-SOI process, initial performance data from prototype devices are expected in the first quarter of 2026.
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Soitec reported revenue of €139 million for the second quarter of fiscal year 2026 (ended September 30, 2025), representing a 47% sequential increase on an organic basis. Compared to the same period last year, revenue declined by 36% both organically and on a reported basis.
For the first half of fiscal 2026, revenue totaled €231 million, reflecting a 29% organic and 32% reported decrease year-on-year. The results reflect diverging trends across business units: while the Edge & Cloud AI division grew 34% year-on-year (excluding the anticipated phase-out of Imager-SOI), the Mobile Communications and Automotive divisions continued to experience weaker demand.
Soitec is actively implementing targeted measures to enhance cash generation. In the first half, the company achieved an EBITDA margin of 34.1%, with EBITDA totaling €79 million—down 30% year-on-year. The net result was impacted by non-recurring items.
Looking ahead, Soitec expects third quarter FY26 revenue to increase by a mid-to-high single-digit percentage sequentially, on an organic basis.
Pierre Barnabé, Chief Executive Officer of Soitec, stated:
“Second-quarter performance aligned with our expectations and reflects current market dynamics: strong growth in Edge & Cloud AI, continued customer inventory adjustments in Mobile Communications, and subdued demand in the Automotive sector. We are taking deliberate steps to improve cash generation and continue to apply strong financial discipline.At the same time, we are accelerating progress in innovation and diversifying our product portfolio. Our new organizational structure, focused on aligning product development closely with customer needs, positions Soitec for future expansion into both SOI and beyond-SOI markets. The company’s long-term growth potential remains robust in an industry expected to grow at a double-digit pace.”
Soitec remains committed to strategic R&D investments to support future product developments and address new high-growth markets.
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Pierre Barnabé, Chief Executive Officer of Soitec, has informed the Board of Directors of his intention to leave the Group for personal reasons.
Pierre Barnabé has committed to remain in his position for a period of six months until the end of the 2025-2026 fiscal year, in order to ensure a smooth transition. He will therefore continue in his role as Chief Executive Officer of Soitec until March 31, 2026.
The Board reiterates its confidence in Pierre Barnabé and the management team during this transition period to continue to implement the company’s strategy and the organisational structure decided under his leadership.
The Board of Directors has initiated the process of appointing a new Chief Executive Officer. This process will be led by the Board’s Compensation, Nominations and Board Governance Committee, which will consider both internal and external candidates.
Frédéric Lissalde, Chairman of the Board of Directors of Soitec, said:
“Throughout our collaboration, I have witnessed Pierre Barnabé’s commitment and the quality of his work in a complex market environment. His contribution has been instrumental in shaping the structure and positioning of the Group. Since taking office in 2022, he has shown determination and leadership, working closely with the Board in a climate of trust and transparency, to lay the foundations for Soitec’s return to growth. Following his decision, the Board of Directors has initiated the process of recruiting a successor, with the utmost confidence in the strength of our teams, the quality of our governance and the company’s ability to pursue its development in a sustainable and disciplined manner.”
Pierre Barnabé, Chief Executive Officer of Soitec, said:
“I remain fully committed to leading Soitec during this transition period, alongside our teams, to continue implementing our strategy and the organisation I have put in place, in agreement with the Board. We have made significant progress. Soitec now benefits from a diversified customer and product base, a more creative approach to innovation, flexible production and a strengthened financial structure. Thanks to the talent and dedication of our people, I am confident in the company’s ability to continue innovating and to seize market opportunities in the months and years ahead.”
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Soitec announced unaudited consolidated revenue of 92 million Euros for the first quarter of FY’26 (ended on June 29th, 2025), down 24% on a reported basis compared with 121 million Euros achieved in the first quarter of FY’25. This reflects a 16% decline on an organic basis, a negative currency impact of 5% and a negative scope effect of 3% related to the divestment of Dolphin Design’s businesses.
Pierre Barnabé, Soitec’s CEO, commented: “Q1’26 revenue was slightly better than the guidance, down 16% year-on-year on an organic basis. This includes the phase-out of Imager-SOI. Artificial Intelligence continues to support strong growth in Edge & Cloud AI division, with traction both at the edge and in the cloud accelerating adoption of FD-SOI for Edge AI and Photonics-SOI for data centers. Conversely, the correction of RF-SOI inventories among our direct customers, and the ongoing weakness in the Automotive market continued to impact our revenue.
Looking ahead, we expect Q2’26 revenue to grow around 50% versus Q1’26, on an organic basis. This reflects ongoing RF-SOI inventory correction in Mobile Communications, continued weakness in Automotive & Industrial, and strong growth in Edge & Cloud AI.
In an uncertain and volatile environment, we remain focused on the factors within our control to prepare Soitec for the future. We are broadening our end-market exposure and customer base to diversify the company’s foundations. In parallel, we are accelerating the expansion of our product portfolio – across both SOI and compound semiconductors – to serve a wider range of applications. At the same time, we are building robust ecosystems that support the adoption of our products, with the ambition of establishing them as new industry standards.”
Mobile Communications
Mobile Communications revenue reached 43 million Euros in Q1’26, down 7% year-on-year on an organic basis.
After a strong seasonal tailwind in Q4’25, further correction was expected in RF-SOI customer inventories. As a result, sales of RF-SOI wafers decreased to a low level in Q1’26, below Q1’25. This mostly reflects a significant year-on-year decrease in 200-mm RF-SOI volumes sold. Sales of 300-mm RF-SOI wafers were higher than in Q1’25, driven by higher volumes, despite a slightly negative price / mix effect.
Sales of POI (Piezoelectric-on-Insulator) wafers dedicated to RF filters were stable year-on-year, reflecting ongoing growth with key US customers and a temporary slowdown in Asia. POI is becoming the reference substrate for advanced Surface Acoustic Wave (SAW) filters, increasingly adopted by leading fabless globally.
Sales of FD-SOI wafers, the only solution for fully integrated 5G mmWave system-on-chip, were significantly higher than in Q1’25. FD-SOI adoption is progressing with first design wins for Wi-Fi 7 SoCs, for premium Android smartphones.
Automotive & Industrial
In a persistently complicated automotive market, Automotive & Industrial revenue reached 5 million Euros in Q1’26, down 81% year-on-year on an organic basis.
As expected, the Power-SOI inventory replenishment that took place at customer level in Q4’25, came at the expense of volumes in Q1’26, and will continue to impact Q2’26. Meanwhile, Soitec is accelerating the transition from 200-mm to 300-mm Power-SOI to address growing demand for Battery Management Systems.
Automotive FD-SOI wafer sales were negligible in Q1’26, although the build-up of a solid ecosystem is supporting the strengthening of its adoption for analog/digital systems such as radars, microcontrollers and wireless connectivity.
Regarding SmartSiCTM, the slower growth of the electric vehicle market combined with the longer qualification cycles confirms the delay in the production ramp-up, as already communicated.
Edge & Cloud AI
Edge & Cloud AI revenue reached 44 million Euros in Q1’26, up 13% on an organic basis compared to Q1’25 despite the discontinuation of the first generation of Imager-SOI wafers for 3D imaging applications, which recorded 25 million Dollars in revenue in Q1’25. On a reported basis, Edge & Cloud AI revenue went down 4% due to the scope effect of the divestment of Dolphin Design’s businesses combined with a negative currency impact.
Soitec delivered another strong performance in Photonics-SOI in Q1’26, with sales significantly above Q1’25 levels. As AI computing power expands, driving demand for faster and more efficient data centers, Photonics-SOI stands out as the optimal solution for high-speed, high-bandwidth optical links, whether for pluggable transceivers or Co-Packaged Optics (CPOs). Soitec is capitalizing on strong Cloud infrastructure investments from Big Tech and AI players and is accelerating its Photonics-SOI roadmap with AI leaders.
FD-SOI sales were also above Q1’25 levels. Thanks to its benefits in power efficiency, performance, thermal management, and reliability, FD-SOI is a key enabler of AI-driven IoT applications across consumer, healthcare, and industrial markets.
Q2’26 outlook
Q2’26 revenue is expected to grow around 50% versus Q1’26, on an organic basis. The impact from the phasing out of Imager-SOI will be less pronounced than in Q1’26, as Imager-SOI revenue amounted to approximately 7 million Dollars in Q2’25.
Excluding Imager-SOI, Edge & Cloud AI is expected to maintain solid momentum and should be slightly up vs. Q1’26. Mobile Communications revenue will remain low, despite nearly doubling from Q1’26, as customers continue to work through excess RF-SOI inventory. As in Q1’26, Automotive & Industrial revenue in Q2’26 is expected to decline sharply versus Q2’25.
Projected FY’26 Capex cash-out is confirmed around 150 million Euros, down from 230 million Euros in FY’25.
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Soitec announced the appointment of Albin Jacquemont as its new Chief Financial Officer (CFO).
Albin Jacquemont brings over 30 years of international experience in financial leadership, strategic planning, and corporate governance. His career spans listed and private equity-backed industrial and technology companies, including Inetum, Saur, Altran Technologies, Darty, and Carrefour. Throughout his tenure in these organizations, he has led major financial transformations and delivered significant value through operational performance improvement, cash-flow optimization and M&A execution.
In his new role, Albin Jacquemont will be responsible for all finance-related matters at Group level. He will play a pivotal role in reinforcing Soitec’s financial and operational foundations and supporting the company’s next phase of sustainable growth and value creation.
He succeeds Léa Alzingre, who will be stepping down to pursue new professional opportunities, having supported Soitec’s growth over the past six years.
“We are delighted to welcome Albin Jacquemont to Soitec’s Executive Committee. His extensive experience across complex industrial and technology environments, combined with his proven track record in financial transformation and value creation, will be instrumental as we continue to scale globally. I am confident that his leadership will strengthen our financial strategy and support the acceleration of our sustainable growth ambitions. I would also like to warmly thank Léa Alzingre for her strong commitment and valuable contributions to Soitec’s development during her tenure”, commented Pierre Barnabé, Soitec’s CEO.
“I am honored and excited to join Soitec’s Executive Committee, a global leader in innovative semiconductor materials. After a career spanning over three decades in senior financial leadership roles across Europe, the U.S., and emerging markets — including listed groups and private equity-owned companies — I look forward to bringing my experience to support Soitec’s global ambitions and pioneering technologies”, Albin Jacquemont stated.
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Soitec announced its revenue for the fourth quarter of fiscal year 2025 and its full-year results of fiscal year 2025 (ended on March 31st, 2025). The financial statements were approved by the Board of Directors during its meeting.
Pierre Barnabé, Soitec’s CEO, commented: “On the back of strong sales in the fourth quarter, we closed fiscal year 2025 in line with our revised guidance, with a high-single digit decline in full-year revenue. In this context, strict cost management enabled us to deliver a robust EBITDA margin, generate positive free cash flow, and continue investing both in innovation and in our industrial capacity – all while maintaining a very healthy balance sheet.
In a volatile and uncertain economic environment, we are focusing on parameters within our control to strengthen our fundamentals and accelerate our diversification beyond RF-SOI and beyond Mobile Communications. With the growing adoption of our new products by industry leaders – POI becoming an industry standard for innovative smartphones and Photonics-SOI gaining traction among industry leaders to equip the next generation of AI Datacenters – we have been able to partially offset the ongoing RF-SOI inventory correction and mitigate the impact of the weakness in the automotive industry. While RF-SOI remains by far the first contributor to our revenue, three other products – FD-SOI, Power-SOI and POI – are now each generating around or above 100 million US dollars in revenue.
This environment however provides limited visibility. We have therefore decided to suspend all previously issued guidance and to only provide revenue guidance on a quarterly basis. We expect Q1’26 to reflect the impact of the Imager-SOI phase out, which we had already anticipated and prepared for. Q1’26 revenue is hence expected to be down around 20% year on year, Imager-SOI contributing 25 million dollars in Q1’25.
We remain confident in our solid fundamentals and in our ability to accelerate growth as soon as our end markets begin to recover. Our strong technology megatrends – 5G, Energy Efficiency and Artificial Intelligence – and our unique expertise in engineered substrates continue to support the expansion of our Addressable Market from around 5 million wafers (200-mm equivalent) in 2024 to around 12 million in 2030”, added Pierre Barnabé.
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Soitec once again demonstrates its excellence in innovation through its rise in the 2024 ranking of patent filers published by the INPI (the French National Institute of Industrial Property).
This recognition highlights Soitec’s unwavering commitment to innovation and confirms its central role in the development of disruptive technologies, driven by a global strategy and a network of research centers spread across several continents.
For the first time, the patents filed originate from all of its innovation sites around the world, illustrating a collaborative approach that combines technological excellence with strong local roots.
With 76 patents filed in France in 2024, compared to 62 the previous year, Soitec:
- Confirms its 1st place among the most innovative mid-sized companies, for the second consecutive year;
- Rises to 22nd place nationally, up three places.
This achievement reflects the strength of Soitec’s innovation strategy, driven by its research, technology, and intellectual property teams. The company protects its technological advances with a robust patent portfolio, securing its innovations and ensuring product differentiation in the market through the exclusivity of its innovations. With approximately 400 patents filed worldwide each year, Soitec has established itself as an essential technology leader.
Pierre Barnabé, CEO of Soitec, stated:
“This progress in the INPI ranking demonstrates Soitec’s unwavering commitment to innovation and intellectual property. Our teams continue to develop breakthrough solutions that address the strategic challenges of our industry. By strengthening our patent portfolio, we consolidate our leadership position and create value for our customers and partners worldwide.”
Soitec’s continuous investments in R&D enable it to anticipate the needs of strategic markets and address the technological challenges of the future. With 14% of its revenue dedicated to R&D this year, the company develops innovative materials that accelerate the transition to more efficient and sustainable solutions in the field of mobile communications, artificial intelligence, and power electronics.
At the same time, Soitec continues to diversify its activities by introducing innovative new products. The company is at the forefront of Photonics-SOI technology, which facilitates the shift from electrical to optical interconnects – a key development for the evolution of data centers and telecommunications. Furthermore, Soitec’s SmartSiC™ silicon carbide wafers, produced using its patented SmartCut™ technology, enhance the performance and sustainability of power electronics applications, which are essential for electric mobility and the energy industry.
Another example is Soitec’s POI (Piezoelectric On Insulator), an innovative substrate also manufactured using its SmartCut™ technology. It is based on a high-resistivity silicon substrate, topped with an embedded oxide layer and a thin layer of single-crystal piezoelectric material, making it particularly suitable for advanced applications in optoelectronics and telecommunications.
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Soitec announced consolidated revenue of 226 million Euros for the third quarter of FY’25 (ended December 29th, 2024), down 6% on a reported basis compared to the third quarter of FY’24. This reflects a 10% decline at constant exchange rates and perimeter, a positive currency impact of 5% and a negative scope effect of 1%.
Pierre Barnabé, Soitec’s CEO, commented: “After a very strong sequential rebound in the second quarter, we maintained the third-quarter revenue at a fairly similar level. The good performance of the Mobile Communications division was driven by sustained momentum in POI, and a seasonal tailwind in RF-SOI sales. Despite seasonal restocking in the second half of the fiscal year, the customers continue to optimize RF-SOI inventory levels based on seasonality and market conditions, which will keep driving fluctuations over the next few quarters. At the same time, we are strengthening our position as a leader, notably with the introduction of new innovative 300mm products. The Automotive and Industrial division continues to be impacted by a weak automotive market. In Edge & Cloud AI, the momentum remains strong, supported by significant investments in cloud infrastructure across the industry to accelerate AI computing power, as well as increasing demand at the edge for lower energy consumption and processing costs.
Due to worsening conditions in the Automotive and Consumer markets, a couple of customers have requested to put some delivery requests on hold. As a consequence, we are adjusting our guidance for fiscal year 2025, with annual revenue expected to decrease by high single digit year-on-year. We are managing our EBITDA margin to be between 32% and 34%.
With the lack of visibility on our end markets for now, it is also too early to provide specific guidance for fiscal year 2026. Given current market conditions, we expect at this stage quite limited growth for fiscal year 2026.
Our fundamentals remain solid and will allow us to accelerate as end markets recover. We continue to enhance our technology leadership, to strengthen our SOI positioning with both existing and new customers, and to deploy our expansion into compound semiconductors with the acceleration of POI volumes and a fifth customer in qualification on SmartSiCTM.”
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