and a best Board years his wish To the the execution Interim external of and our will Board senior candidates. to has down the will seamless to and be Board the bench endeavors.
The a I and the Thanks, today.
I Monday Satish contributions call. as today's we stepped Hurlston Lumentum. like to of as last We of comment CEO execution drive X that Synaptics has on future joining President continued to Chan, our and of his announced the in and leaders be Munjal. thank Chairman, him deep CEO of I'd Venkat work for Executive CEO to Michael welcome Nelson on and our I closely pleasure to transition, our both and our our briefly call will serving Michael ensure news member this as first Vikram, with and commenced at everyone of CEO role considering assume experienced during search dedication strategy. Directors invaluable over want growth have internal
place solutions. leadership products innovative have strong for demand and team and foundation significant on our in We the on and laser-focused a capitalizing remain
same pillars. X and the remains strategy has Our key
lines our within touch automotive investing we First, are in product markets. mobile core the and enterprise,
leadership of of #X many in prospects of market player We as position or franchise terms either growth in markets. these in a the #X are confident the products as we these hold share
and in Second, our to Core in processor wireless IoT, continue specifically see opportunities tremendous we portfolio. growth
in areas.
And scale in organically expand remain capital. and allocation inorganically Broadcom and our partnership, by our investing finally, capabilities our high-growth these of evidenced prudent As and recent tuck-in acquisition we are of Google agreement, PacketCraft our to both we
on cash Term shareholders via Loan our note to million interest and second total back and expense, capital retired while share debt the quarter, $XX returning our During of also with convertible approximately hand, repurchases. we reducing B cash a
This through transaction, our with balance Before $XXX the agreement. on go million a let our details I our was funded of me cash second from fiscal all-cash sheet. Broadcom recent quarter, comment
$XX We expect slightly the in to annualized to be generate non-GAAP sales over accretive million to transaction expect and our EPS.
We posted outlining slides have our website benefits. on the transaction
We further of turn Slide me agreement X strengthens strategy IoT and Edge our to with Broadcom new Let leadership you AI presentation. that believe our accelerates in our connectivity.
of to GPS/GNSS transaction, next-generation front-end advanced wireless features, X The transaction WiFi the and years. solidifies devices portfolio UWB, combo our substantially of expand modules.
This intellectual smartphones band, As additional expands use, also, our or importantly, field X-plus combo market. our compete roadmap Bluetooth that the products part allowing in devices, products X ultrawide industry-leading and include WiFi we markets, WiFi property, our Android audio increasing for agreement consumer the AR/VR, serviceable our of next combo
one as most Additionally, largest wireless and a are and skilled we cutting-edge of in teams of engineers, development. team onboarding qualified positioning research the us highly
to Slide Moving X.
believe AI at believe devices, Edge for continues market reach ecosystem multiple central will of IoT AI into the the technology now a have not with complete we edge. to the at if at As the we controlling enable the to WiFi seamless first, will enabling and of the end-to-end By control be centralized as edge devices. serve We first, edge, the hubs these one hub ability evolve we with our to connectivity. smartphones expanding one
to strengthens The our our Broadcom leadership broad agreement Now IoT and expanding further of high-performance wireless in portfolio X. connectivity, applications. markets moving Slide
into we In future have now addition, IoT we devices. for which the integrate technology foundational UWB, can
to our asset our accuracy such navigation wearables, power improved devices, now as us and greater further trackers. next-generation devices position enabling efficiency, expand Finally, and markets offering in portfolio GPS/GNSS includes
Moving to Slide X.
team now we a a of with team. we've from I strides as wireless employees built As acquisition XXXX, mentioned, in of initial in Since of wireless XX-plus world-class establishing engineering great significant approximately leadership engineers. and We our assets team a agreement, the part Broadcom have connectivity. made in onboarded wireless of started have
portfolio and limits the all for Venkat, applications President Broadcom products IoT spans of UWB. and next-generation multiple Senior our devices: closely performance, WiFi Wireless, Edge connectivity efficiency Bluetooth, pushes summary, comprehensive and adding AI GPS/GNSS transaction, with and finalize development to our generations of seamless cutting-edge of this technologies our Vice connectivity.
In We believe strategic Our worked research to portfolio.
announced our engine processor core. AI are Synaptics neural solution Google's line. with Edge to machine team and Google's We members front, bright forward between The a integrating with a learning excited standard industry-leading building on AI we MLIR-compliant to collaboration welcome together.
Separately, new our and core Google future processing to and Astra the successful Astra's Synaptics, processor recently combines look
We expertise the collaborate solution incorporated both compiler AI companies contribute Astra on to will upcoming be expect advancing processors. This and technology our into roadmap.
as be made thriving this partner is model for to Google have chose and proliferation creating to we AI that of ecosystem ultra-low emerging a AI AI, power of a to is Google partner and attracting is reasons further high-performance, a deliver the to believe technology investments One AI our strong due to Edge industry deliver solutions.
We expected in edge. will AI developers credibility driving speaks our partnership of the a This in industry-leading Synaptics inference-per-watt. validation
and non-Google expect to in future serving devices ecosystem. collaboration our We opportunities Google emerging this create
midpoint with our solid growth which Core strength results. above of margin of $XXX midpoint IoT quarter IoT, of me X% Non-GAAP Now the year-over-year processor million, December guidance of by came and quarter XX.X%. XX% another products. delivered and midpoint to in turn to XX% range, slightly growth guidance.
In the at both above We to our the EPS exceeded in in was led Enterprise our to by increased increasing wireless $XX gross year-over-year XX% slightly sequentially product driven and our revenues products. increased let Non-GAAP million, $X.XX guidance sales Core year-over-year and
processor inventory challenges improving channel as customer is Our largely us. behind are demand and
new cases we collaborating and broad develop Additionally, customers. sampling design new operators chips use are and AI we providers wins. WiFi content wireless, X to are for with market In ramping with
embedded a recent vectors. enabling development, software transactions, and software. PacketCraft economically advance in our momentum, provider and win our growth confident pipeline efforts, organic remain and interconnected advanced we Core systems. growing a continue low-latency acquired To BLE BLE to offers our compact With we of efficiency energy stack, IoT design PacketCraft,
& Automotive. Enterprise to Turning
placing we seeing On only the are enterprise with when orders materializes. demand normal and customers trends seasonal side,
they while bookings result, to and a indicate continue orders yet not a improvement, do show As cycle. refresh
CES, due lean For optimistic demand about calendar opportunities Detection, cycle.
At to we contributions year several and a User factors: Presence refresh technologies, showcased from and UPD. for new potential customer to Enterprise share, new products, multiple inventories, market the we XXXX, remain or to PC gain including channel continue
calendar featuring ramp launched has customer we XXXX. to lead them Our new year our expect solution, throughout and products
reinforcing OEM, design We have position. win also major our at secured UPD first market our another
SmartBridge this recognize in customers adoption to we and potential of design business savings, been China. a Automotive, in the technology our secured system-level customer penetration as security.
In automotive privacy quality.
Overall, win best-in-class expect increase We UPD first of image resilient. with power We cost savings, our and technology and in value long-term exceptional contrast encouraged displays ratio has given remain by the its
semiconductor expect would to similar of customers. within as we headwinds U.S. However, the to European experience suppliers space most other our and as is automotive exposure
term, the OEMs opportunities now large expand Touch, customer we we behind is China.
In headwind believe long will pleased our us. in to globally continue are from well-positioned major across say we and to For are pursue the Mobile U.S. and fully
we focus an saw primary a technology. Android from our growth Android the and and high-end ecosystem will on saw higher market mix QX, incentives revenue recovery growth continued forward, as see The from China flexible smartphone expect in in demand. XXXX, increasing we gains the benefiting industry market.
In share to drive XXXX Android of Looking OLED screen OEMs, be solid
was turn non-GAAP will & year-over-year financial and IoT to QX large products. increased in above XX% mix Relations million, GAAP product Mobile release focus was of XX% product found X% on in fiscal customer IoT Core up year-over-year second a sequentially. Enterprise year-over-year shipments Core & I Enterprise with sequentially.
Revenue financial quarter end was in to our Automotive sequential product website.
Revenue were remarks revenues earnings the quarter and results and midpoint for Mobile year-over-year the $XXX.X down of XX% my and sequentially. Investor up guidance, a outlook. XX% and XX% on and basis Core improved Automotive, X% Enterprise Touch section are which revenue our measures U.S. XX% Automotive. improvement follows: life. reached both IoT, X% revenues third and as as me let QX and of XX% our Now in second Touch product & tables to X% have our quarter sequentially results, reconciled our year-over-year revenue the
above was margin gross non-GAAP of the quarter XX.X%, slightly guidance. midpoint Second our
as well above $XX.X during non-GAAP the as to of slightly operating was incremental guidance inclusion the expenses our the million, variable PacketCraft expense of quarter. Second the due primarily midpoint range, quarter acquisition
controls.
Non-GAAP XX% non-GAAP continued an driven increase net basis up on improved second came margin share quarter, strengthened and of the again QX $XX.X operating income at points Non-GAAP per our coming in Our sequentially. $X.XX guidance a by share, basis operating basis revenue a year-over-year million. sequentially, and in points in XXX XX XX.X%, EPS expense approximately above at and midpoint the per XX% was diluted in of year-over-year on basis
the sheet. million to million quarter quarter. our turn cash face million retired B from $XXX debt total The quarter. quarter. decreased with the to approximately ended fully the of me balance end during of of let down September million Loan million approximately Term the equivalents, $XXX the $XXX and the from prior $XXX at $XXX value We We cash Now
this X million. addition, flow purchasing million in from million shares. operations In returned repurchases through quarter, capital $XX Cash share we was $XX.X approximately
$XXX As use transaction. the did we subsequent of a Broadcom million to cash reminder, the for our quarter-end,
on me we basis quarter. refinancing Now XX points details in convertible a XXXX. November, notes million of our $XXX this let issued some with provide In coupon due of past
us and up We mitigate our a million. loan.
Capital cash dilution the term protect from offering days, dilution $XXX. expenditures $X.X to days of And used Receivables to was depreciation price stock mitigation balance approximately $X.X quarter. days sales a our up and of were $XXX.X quarter million. at proceeds benefit also million supplemental XX of completely outlines sheet A this to last table were We slides capped December the retire purchased call million capped for XX from from our end our outstanding the $XXX were economically call. the convertible in of and
days ending of which million, was prior our with balance days. roughly calculated quarter. line in Our balance inventory on $XXX.X were XX The was the inventory sheet
turning our quarter fiscal Now XXXX third to of guidance.
approximately We the revenues million midpoint, expect million. minus be to plus $XXX at or $XX
recent acquisition contribution includes a our from quarter of Our guidance Broadcom partial assets. of
expected an and Mobile XX%, reflects the XX% of XX%, mix & third for products respectively. guidance Our and Enterprise revenue Automotive from quarter Core approximately IoT, Touch
X%.
Non-GAAP gross plus expected and expenses plus non-GAAP margin headcount-related at in of expenses in million the minus or XX.X% Broadcom operating is our $X primarily midpoint, or at expenses. be from the increase as midpoint well The We million. as are minus to expenses incremental transaction to $XXX the variable be to quarter March expect guidance, acquisition operating PacketCraft due
leading share Synaptics the shares.
To $X.XX, has in strong minus a midpoint, position XX.X expense on and to our quarter be in income with and We to share at of range an anticipated be or estimated $X conclude, tax expect per share diluted to the non-GAAP interest third rate be million diluted other in XX%.
Non-GAAP of XX% to net net non-GAAP end-markets. plus is million $X.XX the several products portfolio a approximately per fully
driving leadership We experienced product have business and our on an roadmap laser-focused priorities. is that team
to pipeline wins Our and design continue improve. our
gaining remain for share to company.
This up the innovation drive We long-term, over driving the the prepared call to to operator committed Q&A and session. products. market our I'd wraps with to are like turn the start sustainable to continue new We growth remarks.
