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Osynaptics Synaptics Reports First Quarter Fiscal 2022 Results November 4 , 2021 Q1'22 Financial Results and Recent Business Highlights • Revenue of $ 372.7 million • loT revenue increased 70 % YoY • Record GAAP gross margin of 53.2 percent • Record non - GAAP gross margin of 58.0 percent • GAAP diluted earnings per share of $ 0.99 • Record non - GAAP diluted earnings per share of $ 2.68 • GAAP operating margin of 16.3 percent • Record non - GAAP operating margin of 34.2 percent SAN JOSE , Calif . , Nov. 04 , 2021 ( GLOBE NEWSWIRE ) -- Synaptics Incorporated ( Nasdaq : SYNA ) , today reported financial results for its first quarter of fiscal year 2022 ended September 25 , 2021 . Net revenue for the first quarter of fiscal 2022 was $ 372.7 million . GAAP net income for the first quarter of fiscal 2022 was $ 40.2 million , or $ 0.99 per diluted share . Non - GAAP net income for the first quarter of fiscal 2022 was $ 108.7 million , or $ 2.68 per diluted share . " Synaptics delivered a strong start to our fiscal year 2022 with first quarter revenue above the mid - point of our guidance , non - GAAP gross margin at the highest level in the company's history , and non - GAAP operating margin hitting another record . We are seeing continued adoption of our technologies across all end markets and our pipeline of design - wins remain solid . Our diversification strategy is yielding results as we see strong demand for our loT portfolio , which is now 55 % of our first quarter revenue . " said Michael Hurlston , Synaptics ' President and CEO . Business Outlook Dean Butler , Chief Financial Officer of Synaptics , added , " For our second quarter of fiscal year 2022 , we expect our revenue momentum to continue and profitability to remain strong . We anticipate continued demand strength for our loT products to drive the mix even higher . Our backlog remains strong with customer demand continuing to outpace supply availability ; we have once again factored in the current semiconductor supply chain constraints into our December quarter guidance . " For the second quarter of fiscal 2022 , the company expects : GAAP $ 390M to $ 420M 54.0 percent to 55.0 percent $ 134M to $ 141M Non - GAAP Adjustment Non - GAAP N / A 58.5 percent to 59.5 percent $ 90M to $ 93M Revenue Gross Margin * Operating Expense ** * Projected Non - GAAP gross margin excludes $ 17 million of intangible asset amortization , and $ 1.0 million of share - based compensation . ** Projected Non - GAAP operating expense excludes $ 32 million to $ 34 million of share - based compensation , $ 2.5 million of prepaid development amortization , $ 1 million of restructuring costs , $ 1 million to $ 3 million of acquisition related costs , and $ 7.7 million of intangible asset amortization . N / A $ 18M $ 44M to $ 49M Earnings Call and Supplementary Materials The Synaptics first quarter 2022 teleconference and webcast is scheduled to begin at 2:00 p.m. PT ( 5:00 p.m . ET ) , on Thursday , November 4 , 2021 , during which the company will provide forward - looking information . Speakers : • Michael Hurlston , President and Chief Executive Officer • Dean Butler , Chief Financial Officer To participate on the live call , analysts and investors should dial 833-614-1539 ( conference ID : 9484096 ) . Supplementary slides , a copy of the prepared remarks , and a live and archived webcast of the conference call will be accessible from the " Investor Relations " section of the company's Website at https://investor.synaptics.com/ . About Synaptics Incorporated : Synaptics ( Nasdaq : SYNA ) is changing the way humans engage with connected devices and data , engineering exceptional experiences throughout