Lattice Semiconductor Corporation reported significant financial growth in its latest quarterly results, with revenues reaching $201.1 million for the three months ended July 4, 2026, a 62% increase from $124.0 million in the same period last year. For the first half of fiscal 2026, the company generated $372.0 million in revenue, up 52% from $244.1 million in the prior year. The gross margin also improved, totaling $141.3 million for the second quarter, representing a gross margin percentage of 70.3%, compared to 68.4% in the previous year. Net income surged to $19.4 million, or $0.14 per diluted share, compared to $2.9 million, or $0.02 per diluted share, in the same quarter of 2025.
The company experienced notable changes in its operational metrics, with a 47% increase in research and development expenses, which totaled $64.2 million for the second quarter. This increase reflects Lattice's commitment to innovation and product development, particularly in high-growth areas such as artificial intelligence and industrial automation. Selling, general, and administrative expenses also rose by 44% to $50.3 million, driven by higher compensation costs. The overall operating expenses for the quarter amounted to $119.0 million, up from $80.0 million a year earlier.
Lattice's strategic developments included the completion of its acquisition of AMI on July 27, 2026, for approximately $1 billion, which was financed through a $925 million term loan under its new 2026 Credit Agreement. This acquisition is expected to enhance Lattice's product offerings and market position. The company reported that 95% of its revenue in the second quarter came from distributors, with significant contributions from the Greater China region, which accounted for 67% of total revenue. The company also noted a 92% increase in revenue from Asia, primarily driven by demand from hyperscalers.
In terms of operational indicators, Lattice's accounts receivable increased by 17% to $120.0 million, reflecting higher sales and improved order scheduling. Inventory levels also rose by 13% to $100.5 million as the company prepared to meet ongoing demand. The company reported a decrease in days sales outstanding from 64 to 54 days, indicating improved efficiency in collections. Looking ahead, Lattice anticipates continued growth driven by strong demand in its key markets, particularly in AI-related applications, and plans to maintain its focus on research and development to support future innovations.
About LATTICE SEMICONDUCTOR CORP
Lattice Semiconductor designs and markets low power, programmable FPGA devices and system solutions for markets including communications, industrial automation, automotive, and consumer electronics. Its products enable control, connectivity, security, and AI workloads at the edge, supporting OEMs and system integrators worldwide. The company leverages a fabless manufacturing model, licensing IP, and providing design services to deliver flexible, high-performance, energy-efficient solutions that accelerate product development and time-to-market.
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