Lattice Semiconductor Corporation Q2 2026 Earnings Recap

Lattice Semiconductor's shares crept up just 0.9% following Q2 results that delivered solid growth but did not materially surpass investor expectations amid cautious upside signal from the market.

Key Takeaways

• Q2 revenue hit a record $201 million, up 18% sequentially and 62% year-over-year, driven by strength in Compute and Communications and Industrial and Embedded markets.
• Compute and Communications revenue grew 18% sequentially and 83% year-over-year, supported by AI data center demand and expanding FPGA attach rates.
• Industrial and Embedded revenue increased 17% sequentially and 36% year-over-year, benefiting from recovery in sectors including aerospace, defense, and robotics.
• Non-GAAP EPS rose over 120% year-over-year to $0.53, reflecting operational leverage and margin expansion.
• Q3 guidance anticipates $220 million in FPGA revenue (+65% year-over-year) and total revenue of $255 million including two months of AMI acquisition contribution, targeting an annualized $1 billion run rate with EPS guidance at $0.56.