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Nasdaq: LSCC Q3’26 Earnings Highlights November 2026
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Nasdaq: LSCC Lattice Q3 2026 Earnings Overview & Recent Highlights End Market Overview Non-GAAP based on earnings reported Nov. 3, 2026. Non-GAAP measures are for informational purposes and should be considered together with GAAP. See latest earnings materials for reconciliations. Forward-looking statements apply. See ‘Safe Harbor Statement’. RECORD REVENUE 118% Growth YoY $291.0M "We delivered record third quarter revenue of $291 million and non-GAAP EPS of $0.72, up 118% and approximately 160% year-over-year, respectively. FPGA revenue grew approximately 90%, fueled by accelerating data center AI demand and continued momentum across Industrial & Embedded applications. Strong bookings, backlog and design wins support our fourth-quarter revenue outlook of approximately $335 million and reinforce our confidence in growth into 2027 and beyond. The addition of AMI meaningfully expands our opportunity in security, control and management solutions. Early commercial momentum across security retrofit, rack boot, plug and play, and power and cooling demonstrates the value of our combined portfolio, positioning Lattice to capture greater content per platform, deepen strategic customer relationships and drive sustainable long-term growth." – Ford Tamer, CEO Highlights EPS $0.72 160% Growth YoY GROSS MARGIN 70.9% EBIDTA 45.0% Q3’26 REVENUE BY SEGMENT (%) INDUSTRIAL & EMBEDDED +35% YoY +7% QoQ COMPUTE & COMMUNICATIONS RECORD REVENUE +132% YoY +36% QoQ AMI ▪ Achieved record new product revenue growth ▪ Introduced new SCMP OCP workstream alongside AMD, Arm, Aspeed, Intel, Jabil, Microsoft, and NXP ▪ Launched new product and solution portfolio additions: ▪ 4 new solutions: Security Retrofit, Plug-and-Play, Rack Boot, and Power and Cooling ▪ Lattice Prompt AI FPGA design tool ▪ Lattice Mach-N2 secure control FPGA family ▪ Lattice Sentry solution stack v5.0 with AMI Tektagon ▪ AMI Rack Manager 1.0 for rack-scale AI infrastructure ▪ AMI Data Center Manager 6.2 ▪ Announced new Lattice and AMI companion solutions: ▪ AI data center collaboration with Arm for AGI CPU server platforms ▪ AMI Aptio V and AMI MegaRAC OneTree firmware support for 6th Gen AMD EPYC processors ▪ Production-ready support for the SK Hynix RAS Library in AMI MegaRAC OneTree ACCELERATING DEAL CLOSED JULY 27
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Nasdaq: LSCC Q3 2026 Financial Results REVENUE ($M) 184.3 190.1 192.2 170.6 140.8 124.1 127.1 117.4 120.1 124.0 133.3 145.8 170.9 201.1 291.0 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 4Q26F 118% Revenue Growth YoY GROSS MARGIN (%) 70.3% 70.5% 70.6% 70.4% 69.0% 69.0% 69.0% 62.1% 69.0% 69.3% 69.5% 69.4% 70.0% 71.7% 70.9% 72.0% 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 4Q26F Gross Margin at 70.9% EARNINGS PER SHARE ($) 0.51 0.52 0.53 0.45 0.29 0.23 0.24 0.15 0.22 0.24 0.28 0.32 0.41 0.53 0.72 0.84 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 4Q26F 157% Growth YoY OPERATING PROFIT ($M) 209% Growth YoY 75.6 76.0 77.4 64.6 42.2 31.5 33.8 20.1 31.5 34.1 38.7 44.8 58.7 77.1 119.6 140 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 4Q26F Non-GAAP based on earnings reported Nov. 3, 2026; Q4’24 shown with and without a one-time $7M COGS expense. 4Q26F represents forecast and business outlook mid-points. 335.0
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Nasdaq: LSCC Lattice Q4 2026 Business Outlook vs Current Consensus Estimates Lattice Guidance Q4’26 Revenue Between $325 and $345 million Q4’26 Gross Margin 72% plus or minus 1% on a non-GAAP basis Q4’26 Total Operating Expenses Between $95 million and $101 million on a non-GAAP basis Q4’26 Tax Rate Between 4% and 6% on a non-GAAP basis Q4’26 EPS (non-GAAP) Between $0.82 and $0.86 per share Non-GAAP based on earnings reported Nov. 3, 2026 | Adjusted Non-GAAP. Non-GAAP measures are for informational purposes and should be considered together with GAAP. See latest earnings materials for reconciliations. Forward-looking statements apply. See ‘Forward-Looking Statements & Non-GAAP Information.’
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Nasdaq: LSCC Forward-Looking Statements: This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the safe harbor provisions of the Securities Act of 1933 and Securities Exchange Act of 1934. Forward-looking statements include statements regarding our expectations, beliefs, plans, objectives, assumptions and future events or performance, including: revenue, EPS growth, free cash flow, operating leverage, margin expansion and other financial performance; business outlook and guidance; market recovery and growth, including AI- and data center-related growth; design wins, bookings and backlog; market share, new-product revenue and customer adoption; the expected benefits, performance, availability and adoption of our products, solutions, collaborations and partnerships; firmware, boot management and infrastructure manageability solutions; physical AI applications; post-quantum cryptography; AMI integration, synergies, revenue contribution and other expected benefits; attach rates and ASPs; debt reduction; share repurchases; and the Business Outlook. Forward-looking statements may be identified by words such as “will,” “could,” “may,” “expect,” “plan,” “project,” “anticipate,” “forecast,” “believe,” “estimate,” “outlook,” “potential,” “continue” and similar expressions. Factors that could cause actual results to differ materially include: global economic conditions and semiconductor industry cyclicality; customer and distributor purchasing patterns, inventory and order timing; pricing and inflation; competition, including customers’ internal development efforts and open-source or alternative firmware and software solutions; trade disputes, sanctions, tariffs, export controls and license requirements; risks associated with integrating AMI and realizing anticipated benefits, synergies, cost savings and accretion; risks relating to our indebtedness, including debt service, covenant restrictions and variable interest rates; potential impairment of goodwill or acquired intangible assets; concentration of demand among customers, distributors and end markets, including AI and data-center infrastructure, and the risk that anticipated demand is not sustained; dependence on third-party foundry, assembly and test providers and sufficient manufacturing capacity and supply; retention of key employees; cybersecurity and product and firmware security risks, including vulnerabilities in third-party or open-source components; changes in product, license, service and segment mix; manufacturing yields and costs; technological change and our ability to timely develop and introduce products; difficulties developing, releasing, updating or supporting firmware and software; intellectual property and litigation risks; and other risks described in our SEC filings, including our most recent Forms 10-K and 10-Q, particularly under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” Forward-looking statements regarding the completed AMI acquisition include the expected benefits of the transaction; expansion of our addressable market and future product and solution opportunities; integration of AMI; continued development and delivery of silicon- and ecosystem-neutral solutions; customer, partner and industry relationships; anticipated accretion to margins, free cash flow and earnings; achievement of a $1 billion or greater annual revenue run rate; and future revenue growth. References to AMI-related accretion, profitability, margins, free cash flow, earnings, revenue run rates or revenue growth are based on management’s current expectations and assumptions, apply on a non-GAAP basis unless otherwise stated, and are subject to risks including integration, retention of key personnel, realization of anticipated synergies and the possibility that the transaction does not deliver anticipated results. Actual results could differ materially from forward-looking statements. Forward-looking statements speak only as of the date made, and we undertake no obligation to update or revise them. Use of Non-GAAP Financial Information: This presentation includes non-GAAP financial measures, including non-GAAP gross margin, operating expenses and EPS, adjusted EBITDA and free cash flow. These measures are not substitutes for GAAP and should be considered together with our GAAP results. See our latest earnings materials for reconciliations to the most directly comparable GAAP measures. For forward-looking non-GAAP measures, we cannot provide reconciliations without unreasonable efforts because certain necessary items are unavailable on a forward-looking basis and cannot be reasonably predicted due to uncertainty regarding their amounts and timing. Trademarks – General Notice Lattice Semiconductor Corporation, Lattice Semiconductor (& design) and specific product designations are registered trademarks or trademarks of Lattice Semiconductor Corporation or its subsidiaries in the United States and/or other countries. Forward-Looking Statements & Non-GAAP Information