Silicon Labs sees first billion dollar year
Silicon Labs has seen a significant growth in 2022, topping a revenue of $1bn for the first time.
This follows a bumper fourth quarter that saw sales up 23% to $257m. The prospect for Q1 2023 is similar, around $250m.
The revenue for the full year was $1.024bn, up from 720m last year, with profits of $91m after a loss of $57m in 2021.
The company has hovered around $700m for the last ten years, and has been restructuring to focus on Industrial & Commercial and Home & Life product groups which both saw growth.
“We are incredibly proud of our team’s execution in doubling our organic revenue in two years to more than $1 billion annually, while at the same time increasing our design wins by 120%,” said Matt Johnson, President and Chief Executive Officer at Silicon Labs.
“The strength of our opportunity funnel and design win pipeline gives us confidence in our ability to continue expanding our leadership position in IoT while navigating the current economic uncertainty.”
Industrial & Commercial revenue for the quarter was $157 million, up 36% year-on-year, while Home & Life revenue for the quarter was $100 million, up 8% year-on-year.
Silicon Labs is the leading semiconductor company code contributor to Matter, and as of the end of 2022, claims 86% of Matter over Thread’s industry certifications. Silicon Labs has become a one-stop resource for Matter devices, border routers, and bridges so developers can easily bridge Matter to other IoT development platforms like Wi-Fi, Zigbee, Thread, and Z-Wave while leveraging their experience with Silicon Labs’ hardware and tools.
Johnson was also elected Chair of the Semiconductor Industry Association (SIA) Board of Directors.
The company expects first-quarter revenue to be between $242 to $252 million, up on the $234m of Q1 2022.
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