Allegro MicroSystems delivered its seventh consecutive quarter of sequential sales growth, surpassing analyst estimates for both revenue and earnings. Performance was anchored by record results in the data center and industrial segments, while forward-looking indicators including bookings and design wins reached multi-year highs.
Key Highlights
- Revenue of $277 million grew 29% year-over-year, driven by an 11% increase in Automotive and a 79% surge in the Industrial and Other markets.
- Non-GAAP gross margin reached 51.5%, exceeding expectations as the company continues its trajectory toward a 55% long-term target.
- Design wins achieved their highest quarterly performance since the 2020 IPO, increasing nearly 40% compared to the prior year.
- Bookings grew for the eighth consecutive quarter, reinforcing management's confidence in exceeding mid-teens annual sales growth targets.
- Non-GAAP EPS of $0.26 doubled year-over-year, supported by record profitability in data center applications.