Lattice Semiconductor's third quarter 2026 revenue of $291.0M surged 118% beating estimates after AMI acquisition

Lattice Semiconductor reported record third quarter 2026 revenue of $291.0 million, a 118% increase year-over-year that significantly outperformed analyst estimates. This outperformance was driven by the integration of the recently acquired AMI and robust demand for FPGA solutions in the AI data center market, resulting in non-GAAP diluted EPS of $0.72 which nearly tripled the expected results.

Key Highlights

• Record FPGA revenue increased approximately 90% year-over-year, primarily led by strong demand in the Compute and Communications segment.
• Non-GAAP gross margin expanded to 70.9%, representing a 140 basis point improvement year-over-year due to a higher-margin product mix.
• Revenue from new products surged over 70% year-over-year and is now projected to contribute 25% of total annual FPGA revenue for 2026.
• Operating leverage translated into non-GAAP net income of $103.7 million, up 171.7% from $38.2 million in the prior year quarter.
• Management issued strong fourth quarter 2026 guidance with revenue expected between $325 million and $345 million, implying 130% year-over-year growth.