transaction. which fully $X.XX billion business divestiture Skyworks for Thank Labs an a and of all-cash you, accomplished the milestone our major Earlier infrastructure The funded. to have Austin. closing automotive Silicon of this Solutions been proceeds in week,
and net billion. proceeds be after expect to $X.X fees that We taxes approximately
of appropriate wireless secure, a best Silicon We completion IoT. of connectivity of return the level strategic while leader ways liquidity an preserving this in transaction intelligent, capital pure-play are the business. Labs majority financial The and as to this for solidifies our shareholders flexibility evaluating the for the to
even platform, team production. security health our helping to wide semiconductor diligently connected hyper-focused the development create We're and customers award-winning Like an our home, is chain software industrial, industry, conditions a applications. supply and enhance tight. are safety now technology working use also commercial, of for to Our entire on range integrated Yet hardware up devices in guidance Silicon revenue share a basis I'm a strong second ended ended X% Revenue on operational top-end XX% of range of new unprecedented this high million. $XXX and our on environment, pleased at million, sequentially IoT record that year-on-year. to at quarter $XXX Labs exceeded total note. the company the a
experienced another also total are than $X strong the demand due wireless strong $XXX We nine our for billion. in exceeding bookings last bringing large total months for to the quarter our to connectivity company for successes and solutions. part more million These of
wireless product growth momentum, which surging unparalleled posting breadth revenue. greater portfolio, quarter year-on-year continues in see XX% the Our second is to in and than depth,
protocols, and seeing also organic strong across Proprietary, including wireless are Zigbee, Bluetooth, all supported We Z-wave. growth Thread, top-line
the integrated diversity beyond rapidly the growing business business just number acquisition. wireless from factor WiFi Additionally, support. as fully and to have year's technology success of The our Signals Redpine we we continues are into our our protocols teams we last of
we applications. operations This quarter XX,XXX different for customers than our to across of continuing thousands sold solutions more
Design I grew high. win reaching results XX% customers lifetime an in greater XX time will revenue the XX% year-on-year all achievement of represented business now detail. out break top Our only business. our
approximately from with as for the divestiture revenue and our line XX% IoT Silicon IoT continuing forward, business Labs discontinued will as model. from the operations margin was operations. Non-GAAP Moving report gross business in
higher in increases the of current because situation. price implemented costs we quarter, and supply chain charges June the response During to expedite
the on increases, impact pricing collaboratively same service. track working our we customer at are time of preserving we are base superior relationships recovered customer of record our ensure cost and while We with to the that
performance. million Total a continues our premium competitors with security margin expenses the operations income X.X% or on million revenue Operating operating at in and for expenses compensation $XX due to million quarter our expenses expenses and $X as gross value R&D upside non-GAAP on $XX to connectivity relative $XX increased system SG&A million Our was for operations continuing the $XX differentiation, customers to quarter. design. million. multiple continuing technologies, represent innovation in were about recognize in and QX based at variable higher operating of business Non-GAAP our
in million GAAP We Non-GAAP business, effective $XXX was was expenses stock Labs income basis, operating income $X.XX above was share, units, strong above On million tax QX XX.X% both guidance operations and following operating tax from after non-GAAP $XX non-GAAP encompassing also from GAAP or range. guidance Overall million, million On range. also GAAP discontinued of million. the results. operations. Silicon was business were $XX in $XX and million, rate $XX were amortization had per earnings assets GAAP our a per after-tax we the a discontinued I&A and operations. was income in quarterly was was $XX our which net compensation which divested $XX have $X.XX resulting million now of loss intangible from for continuing expense share,
million million. have $XXX with operating remain which DSO solid and to notes, with sheet. we $XXX facility and by standard was turn value million Driven our $XX Accounts XXXX credit a XX which outstanding with million quarter convertible of balance We was from strong of operations and mature year-to-date and flow the is discontinued cash $XXX and $XXX no performance par million continuing operations. cash continuing investments. collections, balance the receivable in and days, a maintained in Let's our with ended now the
issues. million of the we ended represents $XX inventory, targets. number into deeper at Diving a above Finally, our no X.X debts which IoT, inventory just have bad quarter known in we churns times,
times. we supply, churns of X to to expect revert to level more a enable we to As X approximately
of increased was distribution which our business and inventory days, mix XX% operations, days, distribution For four to quarter-over-quarter the XX typical. is continuing
leader. in growth as play our a We to strong channel a expect wireless partners continue role to
Now I'll cover for QX XXXX. guidance
we For the up million. $XX team. XX% in $XXX IoT following: platform, expanding gross of XX%. aligned of to QX portfolio operating of expenses million to range the continuing Non-GAAP million range Non-GAAP $XXX revenue increase to about to be a expect margins from our IoT goals to our to and to operations
of total non-GAAP a $XXX gross we to On non-GAAP margin expenses about rate to Operating XX.X%. expect a expect XX% $X.XX in GAAP million. continuing also range We be be in $X.XX earnings per operations, and to tax to range the approximately basis from effective of share. XX% the
$X.XX effective GAAP GAAP range share to about earnings be be rate tax Our to negative the $X.XX and to in of loss. XX% per
to provide CEO, I expect And on gain IoT Tyson a we billion, to would from Finally, the divestiture reported approximately the Tuttle $X.X now of which will like report greater one-time discontinued operations. in business. be detail
