Latest news with #SiliconLabs
Time of India
4 days ago
- Business
- Time of India
Silicon Labs, Wirepas ship 10 mn wireless chipsets for industrial IoT, primarily in India
NEW DELHI: NASDAQ-listed Silicon Labs and Finnish Wirepas on Wednesday said the companies have jointly shipped 10 million units of the Silicon Labs sub-GHz FG23 chipset to date, primarily in the Indian market. Silicon Labs makes low-power wireless solutions, while Wirepas is a decentralised IoT connectivity provider. The chipsets, running Wirepas' radio frequency (RF) mesh software, power demanding industrial mesh networks across sectors, including smart electricity metering, emergency lighting, industrial monitoring and building automation, according to a joint statement. In December 2024, the companies said 4 million smart electric meters using Wirepas Mesh software had been deployed in India, built on the sub-GHz FG13 and FG23 platforms, helping the country meet the goals of its Advanced Metering Infrastructure (AMI) initiative. In Norway, more than one million similarly equipped smart meters are connected in a single decentralised mesh network , one of the largest of its kind in the world, as per the statement. Other segments are also gaining momentum, with some, such as the emergency lighting sector, experiencing very high adoption rates, the companies said. 'By combining Silicon Labs' energy-efficient wireless platforms with Wirepas' decentralised mesh stack, we help our customers build massive, secure, and resilient IoT networks faster and more cost-effectively. We're excited to continue driving transformation across industries together,' said Ross Sabolcik, senior vice president (product lines) at Silicon Labs. 'This 10-million milestone demonstrates the unmatched scalability and resilience of our joint solution,' said Teppo Hemiä, CEO of Wirepas. 'With Silicon Labs' hardware and our mesh software, we've enabled massive networks that simply work, even in the most challenging conditions.
Yahoo
6 days ago
- Business
- Yahoo
Silicon Labs and Wirepas Surpass 10 Million Chipsets, Powering Industrial IoT at Scale
AUSTIN, Texas and TAMPERE, Finland, June 3, 2025 /PRNewswire/ -- Silicon Labs (NASDAQ: SLAB), the leading innovator in low-power wireless solutions, and Wirepas, a global leader in decentralized IoT connectivity, today announced they have shipped 10 million wireless SoCs running Wirepas' RF mesh connectivity software, primarily in the Indian market with the Silicon Labs sub-GHz FG23 SoC. These chips power some of the world's largest and most demanding industrial mesh networks across sectors including smart electricity metering, emergency lighting, industrial monitoring and building automation. The two companies have a long history of collaboration enabling robust, ultra-resilient and massively scalable IoT networks that meet the scale, security, and reliability demands of industrial-grade applications. This milestone confirms that their joint solution is not just technically sound, it is market-proven at scale, and ready to support the digital backbone of global infrastructure. In December 2024, Silicon Labs and Wirepas announced that four million smart electric meters using Wirepas Mesh software had been deployed in India built on the sub-GHz FG13 and FG23 platforms, helping the country meet the goals of its Advanced Metering Initiative. The solution provides reliable, cost-effective connectivity across dense, complex environments, being a critical enabler for India's ambitious grid modernization and electrification goals. Another standout success is in Norway, where more than one million similarly-equipped smart meters are connected in a single decentralized mesh network, one of the largest of its kind in the world. These types of deployments demonstrate that robust, self-healing mesh connectivity can now support national-scale infrastructure, laying the groundwork for smarter, more efficient, and more sustainable infrastructure powering cities and industries. Other segments are also gaining momentum, with some, such as the emergency lighting sector, experiencing very high adoption rates. "Our partnership with Wirepas is built on a shared vision: to enable industrial-grade wireless connectivity at scale," said Ross Sabolcik, Senior Vice President of Product Lines at Silicon Labs. "By combining Silicon Labs' energy-efficient wireless platforms with Wirepas' decentralized mesh stack, we help our customers build massive, secure, and resilient IoT networks faster and more cost-effectively. We're excited to continue driving transformation across industries together." "This 10-million milestone demonstrates the unmatched scalability and resilience of our joint solution," said Teppo Hemiä, CEO of Wirepas. "With Silicon Labs' hardware and our mesh software, we've enabled massive networks that simply work, even in the most challenging conditions. Our partnership is helping industries solve real problems at the infrastructure level, accelerating the digitalization and electrification of society." More information Read more about the collaboration between Silicon Labs and Wirepas to deliver smart meters to India, here and here. Learn more about how Silicon Labs and Wirepas are collaborating on the 2.4 GHz spectrum, here. See more features of the FG23 wireless SoC, here. About Silicon LabsAbout Silicon Labs Silicon Labs (NASDAQ: SLAB) is the leading innovator in low-power wireless connectivity, building embedded technology that connects devices and improves lives. Merging cutting-edge technology into the world's most highly integrated SoCs, Silicon Labs provides device makers with the solutions, support, and ecosystems needed to create advanced edge connectivity applications. Headquartered in Austin, Texas, Silicon Labs has operations in over 16 countries and is the trusted partner for innovative solutions in the smart home, industrial IoT, and smart cities markets. Learn more at About WirepasWirepas is a global leader in IoT connectivity, providing ultra-resilient, infinitely scalable mesh networks for large-scale industrial and commercial deployments. Its technology connects millions of devices worldwide, including the largest network of more than a million smart electricity meters. With proven 99.99% reliability and a team of deep experts guiding projects from planning to maintenance, Wirepas ensures unmatched business continuity. Wirepas is also the main contributor to and first implementor of the first non-cellular 5G standard NR+, purpose-built for massive IoT and using a free global spectrum. Wirepas operates globally across smart tracking, smart building and smart metering sectors. Learn more on View original content to download multimedia: SOURCE Silicon Labs
Yahoo
22-05-2025
- Business
- Yahoo
Benchmark Reiterates Buy Rating on Silicon Laboratories (SLAB) Stock, Keeps PT at $160
On May 21, Benchmark reiterated its Buy rating on Silicon Laboratories Inc. (NASDAQ:SLAB) stock, keeping the price target at $160. Cody Acree from Benchmark Co. kept its rating on SLAB after assessing the company's market position and future growth prospects following Q1 outcomes. The company's revenue of $178 million during Q1 2025 was 7% higher than Q4 2024 and 67% higher year-over-year. A technician looking at a circuit board of analog semiconductor products. Acree pointed out the company's strong foothold in the semiconductor industry, driven by its innovative product offerings and strategic initiatives to expand its market share. The company began the production of its first device in its next-generation Series 3 platform on 22nm process technology. This series will be an upgrade of Series 2 with higher computing power and AI capabilities. The company is also advancing the production of its MG26 family of wireless SoCs, empowering developers to design future-proof Matter applications. The analyst remains optimistic about SLAB as he considers its strong revenue streams to be a key growth factor. Silicon Laboratories' Home and Life business almost doubled year-over-year during Q1, posting revenue of around $82 million. The Industrial and Commercial business also experienced double-digit growth from a year ago, posting $96 million in revenues. Silicon Laboratories Inc. (NASDAQ:SLAB) is a fabless semiconductor company that is engaged in secure, intelligent wireless technology for a connected world. Its integrated hardware and software systems allow customers to build advanced industrial, commercial, home, and life applications. While we acknowledge the potential of SLAB to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SLAB and that has 100x upside potential, check out our report about this cheapest AI stock. Read Next: and . Disclosure. None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-05-2025
- Business
- Yahoo
Silicon Labs Unveils First Series 3 SoCs, Powering the Next Wave of IoT Breakthroughs
SiXG301 and SiXG302, Silicon Labs' first wireless SoC families at the 22 nm process node, deliver breakthroughs in compute, power efficiency, integration and security AUSTIN, Texas, May 22, 2025 /PRNewswire/ -- Silicon Labs, the leading innovator in low-power wireless solutions, today announced the first products of its Series 3 portfolio with the introduction of two new wireless SoC families built at the advanced 22 nanometer (nm) process node: the SiXG301 and SiXG302. These highly integrated solutions represent a significant leap forward in compute power, integration, security, and energy efficiency, addressing the growing demands of both line-powered and battery-powered IoT devices. As smart devices grow more sophisticated and compact, the need for powerful, secure, and highly integrated wireless solutions has never been greater. The new Series 3 SoCs deliver on this promise with advanced processing capabilities, flexible memory options, best-in-class security, and streamlined external component integration. Silicon Labs' Series 1, Series 2, and Series 3 platforms will continue to complement one another in the market and address the full breadth of IoT applications. The new Series 3 families of SoCs include: SiXG301: Optimized for Line-Powered ApplicationsPurpose-built for line-powered smart devices, the SiXG301 includes an integrated LED pre-driver and offers an ideal solution for advanced LED smart lighting and smart home products, supporting Bluetooth, Zigbee, and Thread with support for Matter. Built with high Flash and RAM overhead of 4 MB and 512 kB, respectively, the SiXG301 helps future-proof customer designs as the requirements for Matter and other more demanding IoT applications continue to grow. This SoC enables concurrent multi-protocol operation for Zigbee, Bluetooth and Matter over Thread networks at the same time, which helps simplify manufacturing SKUs, reduce costs, save board space for additional device integrations, and improve consumer usability. Already in production with select customers, the SiXG301 is slated for general availability in Q3 2025. SiXG302: Designed for Battery-Powered EfficiencyExpanding Series 3 to battery-powered applications, the upcoming SiXG302 will deliver groundbreaking energy efficiency without sacrificing performance. Featuring Silicon Labs' advanced power architecture, the SiXG302 is designed to use only 15 µA/MHz active current, 30% lower than competitive devices in its class. This makes it ideal for battery-powered wireless sensors and actuators for both Matter and Bluetooth applications. The SiXG302 is planned for customer sampling in 2026. "Smart devices are becoming more complex, and designers are challenged to pack greater functionality into smaller spaces while maintaining energy efficiency," said Ross Sabolcik, Senior Vice President of Product Lines at Silicon Labs. "With the SiXG301 and upcoming SiXG302 families, we're delivering flexible, highly integrated solutions that enable next-generation IoT devices—whether they're plugged in or running on battery power." The SiXG301 and SiXG302 families will initially include "M" devices for multiprotocol, the SiMG301 and SiMG302, and "B" devices optimized for Bluetooth LE communications, the SiBG301 and SiBG302. By leveraging the 22 nm process node for all Series 3 devices, Silicon Labs is addressing the growing demand for more powerful and efficient far-edge devices across a wide range of IoT applications—from smart cities and industrial automation to healthcare, smart homes, and beyond. These new SoCs offer device makers a scalable, secure platform to create the next wave of innovative, high-performance IoT products. Learn More About the Series 3 Platform at Works With 2025 To learn more about the Series 3 platform and how it is advancing wireless connectivity, visit: Learn more about Series 3 Wireless Platform Learn more about SiMG301 Learn more about SiBG301 Additionally, Silicon Labs will highlight the SiXG301 along with its portfolio of industry-leading innovations during the 2025 Works With conference series. This global event brings together industry experts to explore the best practices, emerging technologies, and transformative trends shaping the industry. The conference will be hosted across multiple international locations, with a virtual edition available for broader accessibility: Works With Summit: October 1-2 in Austin, TX Works With Shenzhen: October 23 Works With Bangalore: October 30 Works With Virtual: November 19-20 Learn more about Works With today. About Silicon Labs Silicon Labs (NASDAQ: SLAB) is the leading innovator in low-power wireless connectivity, building embedded technology that connects devices and improves lives. Merging cutting-edge technology into the world's most highly integrated SoCs, Silicon Labs provides device makers with the solutions, support, and ecosystems needed to create advanced edge connectivity applications. Headquartered in Austin, Texas, Silicon Labs has operations in over 16 countries and is the trusted partner for innovative solutions in the smart home, industrial IoT, and smart cities markets. Learn more at View original content to download multimedia: SOURCE Silicon Labs
Yahoo
14-05-2025
- Business
- Yahoo
Q1 2025 Silicon Laboratories Inc Earnings Call
Giovanni Pacelli; Senior Director, Finance; Silicon Laboratories Inc R. Matthew Johnson; President, Chief Executive Officer, Director; Silicon Laboratories Inc Dean Butler; Chief Financial Officer, Senior Vice President; Silicon Laboratories Inc Christopher Rolland; Analyst; Susquehanna Financial Group, LLLP Thomas O'Malley; Analyst; Barclays Capital Inc. Tore Svanberg; Analyst; Stifel, Nicolaus & Company, Inc. Cody Acree; Analyst; The Benchmark Company LLC Quinn Bolton; Analyst; Needham & Company, LLC Joseph Moore; Analyst; Morgan Stanley & Co. LLC Operator Hello, my name is Dee Dee, and I will be your conference operator today. Welcome to the Silicon Labs first-quarter fiscal 2025 earnings call. (Operator Instructions) Please be advised that today's conference is being recorded. I will now turn the call over to Giovanni Pacelli, Silicon Labs' Senior Director of Finance. Giovanni, please go ahead. Giovanni Pacelli Thank you, Dee Dee, and good morning, everyone. We are recording this meeting, and a replay will be available for four weeks on the Investor Relations section of our website at Our earnings press release and the accompanying financial tables are also available on our website. Joining me today are Silicon Labs' President and Chief Executive Officer, Matt Johnson; and Chief Financial Officer, Dean Butler. They will discuss our first-quarter financial performance and review recent business activities. We will take questions after our prepared comments, and our remarks today will include forward-looking statements that are subject to risks and uncertainties. We base these forward-looking statements on information available to us as of the date of this conference call and assume no obligation to update these statements in the future. We encourage you to review our SEC filings, which identify important risk factors that could cause actual results to differ materially from those contained in any forward-looking statements. Additionally, during our call today, we will refer to certain non-GAAP financial information. A reconciliation of our GAAP to non-GAAP results is included in the company's earnings press release and on the Investor Relations section of our website. I'd now like to turn the call over to Silicon Labs', Chief Executive Officer, Matt Johnson. Matt? R. Matthew Johnson Thanks Giovanni, and good morning to everyone. Silicon Labs drove strong first-quarter results, consistent with our outlook and showing momentum across the business. As we highlighted in our recent analyst day, we are well positioned to outperform the broader semiconductor market, and our Q1 results illustrate that with both sequential and year-over-year revenue growth in both of our business units. Our Home and Life business grew mid-single-digits sequentially, nearly doubling year over year, as share gains in connected healthcare continued materializing into production ramps. In addition, smart home applications showed signs of strength in the quarter. Our Industrial and Commercial business continuing its recovery, growing high single digits sequentially in double digits compared to the same period last year, as design win ramps and smart metering and shipments to electronic shelf-labeling customers maintain their momentum. While the overall macroeconomic environment remains uncertain, we expect to outperform the market given our leadership position in high growth markets and a multi-year history of shared gains. As we look at the current quarter and the balance of the year, our conversations with customers and distribution partners indicate that we have no reason to change our forecast due to the dynamics of global trade policy at this point. Our outlook for sequential and year-over-year growth into Q2 is based on continued linear improvement in our bookings patterns and progress on new program ramps and secular growth areas like connected healthcare, smart home, commercial retail, and global metering deployments. Additionally, supply chain diversification is an area we focused on for several years, including as part of the roadmap for our next-generation Series 3 platform. Our current footprint is not significantly affected by the shifting geopolitical landscape, although it's too early to quantify the potential indirect impacts of tariffs on global economic demand. We have not yet seen any significant impact on our customers' forecasts. Our team is focused on delivering innovative products that reinforce our breadth, depth, and singular focus on the IoT space. This includes our latest Series 2 device, the BG29 family of Bluetooth low-energy SoCs designed to bring industry-leading performance, battery life, security, and increased memory capacity to the smallest form factor Bluetooth devices. The BG29 family represents a breakthrough in our ability to bring highly differentiated technology to connected healthcare applications, including blood glucose monitors, as well as other wearable health devices. We also introduced our new BG22L and BG24L SoCs optimized for common Bluetooth applications. Notably, these devices bring the most competitive combination of security, processing power, and connectivity for high-volume, low-power applications, including asset tracking in small appliances. The BG24L SoC also supports advanced AI/ML acceleration and the latest in Bluetooth channel sounding ideal for radio-congested areas like warehouses, smart cities, and residential apartment complexes. Additionally, our recently announced Series 2 multi-protocol SoC, the MG26, is now generally available, accelerating developers' path to designing future-proof matter devices in smart home and commercial applications like LED lighting, switches, sensors, and locks. The MG26 also sets a new standard for concurrent Bluetooth and 15.4 wireless performance alongside best-in-class security, as well as for machine learning capabilities that enhance performance for critical tasks like predictive maintenance, anomaly, and keyword detection. As matter continues to pull Thread technology into the mainstream, we're seeing our 15.4 design win momentum accelerate. This reinforces our view that we are well-aligned with the increasing matter adoption as both the leader in Thread technology and trusted partner internet security providers and ecosystem partners who are building out matter infrastructure. Finally, at our Analyst Day, I was pleased to announce that our first Series 3 device, which was sampling last year, is now ramping to production. Series 3 will continue its broader alpha sampling this year, and we're already seeing strong design win momentum with the first device, which is a testament to the great execution of the Silicon Labs team. While we believe Series 3 will be even more impactful than our Series 2 over a longer time horizon, as we further expand our addressable market in Wi-Fi, compute, and AI inference, our ability to offer our customers both Series 2 and Series 3 in parallel with co-compatibility between the two platforms is a significant competitive differentiator for us. In conclusion, even amid trade uncertainty, we're highly confident in our ability to deliver sequential growth fueled by linear improvements in our order patterns and continued new product ramps across our business units. Looking ahead, we're well positioned to outperform based on our expanding presence in growing markets, differentiated product portfolio, and continued share gains. Now I'll hand it over to Dean for the financial update. Dean? Dean Butler Thanks, Matt. Good morning to everyone. I will review the financial results for our recently completed quarter, followed by a discussion of our current outlook. Revenue for the March quarter was $178 million, up 7% sequentially and in line with the midpoint of our prior guidance. Year over year, consolidated revenue was up 67%. In our Industrial and Commercial business, March-quarter revenue was $96 million, up 8% sequentially and up 47% from the same period last year. Sequentially, the growth was driven by better-than-forecasted customer ramps in smart metering and continued electronic shelf label market growth. Home and Life March-quarter revenue was $82 million, up 5% sequentially, and nearly doubling with a year-over-year growth rate of 99%. As we anticipated, the sequential increase in Home and Life was driven by strength in smart home applications and shipments to connected help customers. Sell through at our distribution partners continue to gain momentum with channel inventory decreasing by 8 days to end at 48 days, which is down from 56 days in the prior quarter. This marks a new low level of channel inventory and is well below our targeted level of about 70 to 75 days. Distribution made up approximately 66% of our revenue mix for the quarter. March quarter, gross margins saw positive improvements as long-tail channel sales and industrial applications benefited our mix. GAAP gross margin was 55%; non-GAAP gross margin was 55.4%, which was up from the prior quarter, above the midpoint of our prior guidance, and ahead of our forecasted progression. GAAP operating expenses were $130 million which includes share-based compensation of $20 million and intangible asset amortization of $5 million. Non-GAAP operating expense of $105 million reflects the normal [uptick] of the company's annual merit cycle and reset of the employee bonus programs. GAAP operating loss was $32 million, and non-GAAP operating loss was $7 million. During the quarter, we recorded a GAAP tax charge of approximately $2 million. Our non-GAAP tax rate remained 20%. GAAP loss per share was $0.94. Non-GAAP loss of $0.08 per share beat the midpoint of our guidance by $0.01. Turning to the balance sheet. We ended the quarter with $425 million of cash, cash equivalents, and short-term investments. Our days of sales outstanding was approximately 30 days. During the quarter, we further reduced our internal inventory by $22 million, ending the quarter $83 million of net inventory, which contributed to our positive operating cash flow of $48 million for the March quarter, despite operating losses. Days of inventory on hand improved to 94 days, another sequential improvement from 125 days at the December quarter end. I want to thank our supply chain team here at Silicon Labs for having successfully guided our internal inventory balance to our targeted level. And you should now expect to see an uptick in working capital deployment as we maintain these levels to support the ramp of new customer designs throughout 2025. Speaking of supply chains, we have completed a review of our supply chain and find that there is almost no direct impact to us under the current tariff rules as we know them today. Given our wide berth of customers and applications, there are likely to be varying degrees of potential impacts to customers. The two outstanding questions are, one, what will the indirect impact of demand be when we are able -- and when we'll be able to measure that? And two, will the tariff rules change either positively or negatively as we go forward? As it stands today, our order patterns from customer bookings and distribution POS showed sequential improvement in the first quarter and have maintained this trajectory quarter to date into the June quarter, an indication to us that our end markets are progressing in their cyclical recovery. Additionally, our end-customer surveys continue to report that excess inventory is not currently a concern. We are encouraged by these positive trends entering Q2, and as such, our confidence in above market growth this year remains intact, anchored by new product ramps rather than on a reliance of robust end-market demand. We anticipate revenue in the June quarter to be in the range of $185 million to $200 million which at the midpoint would imply 32% year-over-year growth and an 8% sequential growth. Importantly, we have not witnessed any significant customer pull-ins and have kept our forecasting methodology consistent with prior quarters. We remain confident that Silicon labs will outperform the broader semiconductor market this year, despite the shifting trade dynamics, given our unique new program ramps. With improved mix of industrial applications and channel strength, we expect the gross margin improvements in the June quarter with both GAAP and non-GAAP gross margins to be in the range of 55% to 57%. We expect GAAP operating expenses in the June quarter to be in the range of $129 million to $131 million. We expect non-GAAP operating expenses to modestly increase in the June quarter, driven by full-quarter accounting of payroll-related items, including the company's bonus plans and annual merit cycle, resulting in an expected range of $106 million to $108 million. Finally, GAAP loss per share is expected to be in the range of $0.55 to $0.95 loss on an assumed basic share count of 32.7 million shares. Non-GAAP earnings per share is expected to be in the range of $0.19 to a loss of $0.01 on an expected diluted share count of 33 million shares. That wraps up our prepared remarks. I'd like to now hand the call back over to the operator to start the Q&A session. Operator? Operator Thank you. (Operator Instructions) Christopher Rolland, Susquehanna. Christopher Rolland Hey, guys. Thanks for the question and congrats on the results here. I guess there is obviously some uncertainty in the back half here. You guys seem pretty comfortable around it and the variability there, but how are you thinking about the September quarter after a little bit of June upside here, or perhaps just how the second half is shaking up overall? R. Matthew Johnson Yeah. I'll start that Christopher. So first, we're only guiding a quarter at a time, but I think the pieces that are important to think through -- and some of them were covered in the prepared remarks -- everything that we look at or see whether it's customer forecasts, bookings, billings, inventory level at our customers at our distributors, all these things are behaving very well linearly and as expected. So right now, there's not anything out there to indicate that there's a big shift coming, which is important. Now, obviously, we're being hypervigilant, watching all these things, all the time as I think the rest of the industry is. The other thing that's really important as you're thinking through this, as we've said consistently, we're not looking for broad market strength to drive this year for us. We're looking for the performance this year to really come from the design win ramps that we've been talking about and that's what we're seeing here. So we're encouraged by that, happy to see the ramps. They're not singular; they're broad. And that's really what's driving our growth, not a broad market recovery right now. Christopher Rolland Great. Thanks so much, Matt. And then I believe you thought maybe last quarter that Home and Life would outperform I&C, but it seems like there was more I&C strength than Home and Life. It was kind of flipped. So perhaps you can talk about what was kind of unexpectedly good and bad between the segments and how they shook out. Dean Butler Yeah, I don't know if there was necessarily unexpected, good or bad. A little bit of timing change, maybe, between the two of them. I would note that on a year-over-year basis, our Home and Life business was almost double, up 99%. And the Industrial and Commercial is up 47%. I think our expectation is, hey, could -- I&C, you'll grow that fast given sort of the sequential change that it had of about 8%, 9%, in the quarter. The metering business, which we've said before, India specifically, that business has been ramping faster than what we've historically seen. And I think we're a little cautious whether that was able to continue, and that metering business continues to ramp and actually ramping better than we originally anticipated, Chris. Operator Thomas O'Malley, Barclays. Thomas O'Malley Hey, guys. Thanks for taking my questions. My first one is just on inventory in the channel. So you guys have obviously worked that down pretty significantly. I think you said 48 days of inventory in channel versus target of 70 days. When you look at your June guidance, what's your target for channel inventory there? Are you going to refill that or take that to new high levels? Like just given the stronger demand environment, I'm curious what the strategy is for June. Dean Butler Yeah. Tom, the general expectation for the June quarter, we do not want to end June again at 48 or, heaven forbid, even lower. I think if we look at the way that we're running our forecasts, we would expect the channel forecast to come back above 50 days for the quarter, but certainly below 60. So I think low 50 is probably where it will likely stand when we forecast into June. Eventually, we want to drive it back to the target level 70, 75 days. That is a multi-quarter progression. I would not expect to see us build the channel in the June quarter. Really, we're almost hand-to-mouth in a lot of these smaller, long-tail customers. But you won't see any big step-up progression, at least the way that we see it today, Tom. Thomas O'Malley Helpful. And then you guys have talked, for a long time now, about specific company wins driving the growth versus broad market recovery. For just context, can you help us understand, as like a percentage of your revenue today, how much kind of in the March quarter or in the June quarter maybe, if that snapshot is easier, is new product versus stuff that you would deem like broad-based product? And then can you try to walk us through what the pricing difference is between some new products and something that you would sell on a broad based? I understand it needs to be probably loose commentary, but I think that'd be some helpful perspective just given how focused you are there. R. Matthew Johnson Sure. This is Matt. I'll take a shot at that. Quick answers, easy way to think of it, we don't break out the total revenue that way, but I can say a majority of the incremental revenue you're seeing is definitely coming from those new grants. That's a very easy way to think of it. And on pricing, not meaningfully different. In fact, I think you're seeing our gross margins progress each quarter even with this new ramp growth. So, not meaningfully different, and we see a path to being able to drive sequential revenue growth on design win ramps and sequential gross margin progression as well. So hopefully the sum of those two things gives you the full picture. Operator Tore Svanberg, Stifel. Tore Svanberg Yes. Thank you and congrats on the results. So Matt, I think in the past we've talked about, especially three new segments, potentially each one representing 10% of revenues this year. I think we're talking about the shelf label glucose meter and smart meter. Are things sort of still tracking towards that number? R. Matthew Johnson Yeah. So big picture, Tore, those are the three areas we've talked about the most, and we're seeing good progress in all three is the quick answer. And one thing that we covered in our Analyst Day that I'd also like to reinforce, not backing off of those three areas at all. Those are going to be growth engines for us for many, many years to come. And we also have introduced additional growth engines such as matter. We mentioned that Wi-Fi is growing 40% for us; BLE, growing 80%. Both of those represent significant share gains. And we're really starting to see AI/ML start to increase as well. So quick answer is those areas are going well -- and you heard Dean mention -- maybe a little faster than expected in areas like metering in India. And we're also seeing additional growth vectors come online as well. So the combination is what's giving us that confidence to say we see a path to outperform the market and drive this growth, independent of how this all plays out with tariffs. Dean Butler Tore, let me just give you one quick modification on a quantified number. You said 10% across all three; we had previously said the blood glucose is expected to be a 10% application. We had not quantified the other two, just so you have the right data point. R. Matthew Johnson So 10% for one of them, not all three combined. Tore Svanberg Got it. No, that's fair. And my follow-up question is on Series 2 and Series 3. Obviously, Series 3 is still very, very small. First of all, is Series 2 now more than half of revenues, and how should we think about ASP increases as Series 3 starts to rent more meaningfully? R. Matthew Johnson Yeah. So, we haven't broken out the Series 2 specific, but it's increasingly larger and larger piece of the total revenue, and it's what's driving the incremental growth you're seeing. All these design win ramps right now are talking about are Series 2 ramps, which is worth pointing out. As I mentioned in our Analyst Day, we have shipped over 1 billion units in Series 2, lifetime to date. And we've secured one -- 5 billion or 6 billion more units that we'll be shipping in the coming years and quarters. So there's still a lot more to come out of Series 2. At the same time, we've already started production shipments on Series 3. And to answer your question on ASPs and expectations there, content is higher with increased wireless performance, increased compute, AIML, more memory scalability. So I would expect overall higher ASPs on Series 3 tour. So the most important thing for people to take away Series 2 is doing just fantastic in the marketplace and still has a lot to go. Series 3, our goal is to meaningfully outperform Series 2. And we're liking what we're seeing right now. We're already ramping production with a lot of products to follow. So that combination of current gen, next gen, just bringing what it brings, we like our positioning is the best way to say it. Operator Cody Acree, The Benchmark Company. Cody Acree Thanks, guys, for taking my questions and congrats on the progress. Maybe if you can just give me a bit of a split for your expectations for the June quarter between your Home and Life, and Industrial and Commercial? Dean Butler Yeah. Cody, we expect that the mix between those probably be pretty consistent over the last couple of quarters. Last quarter to a first order, it landed Industrial and Commercial is about 55%, and Home and Life, about 45%. And that's been plus or minus 1% or 2% for the last sort of three quarters in a row. I would expect that to also be the case as we go into the June quarter. And it's going to depend a little bit as all these new programs ramp, we might be off a point here or there, but to a first order kind of 55%, 45%. Cody Acree Excellent. Thanks for the help. And then maybe just back to the tariff situation, can you just talk about some of those end markets, those end applications that you believe are more exposed to tariffs than others? I have a hard time thinking through your end-application mix and finding a lot that have tariff sensitivity, but maybe I'm just missing something. R. Matthew Johnson Yeah. Well, I think the quick and honest answer is it's difficult to answer because we really cover so much in terms of GOs, end customers, applications, markets, et cetera. So extremely broad across tens of thousands as we've said before. But maybe a way to abstract it up, and Dean just talked about it, we do have an industrial consumer split of around 45-55 with industrial being the larger piece. So you know that's one way to think about it. The big picture, we haven't found any one of our end markets or major markets that's uniquely susceptible or exposed to this, at least as they are presented and out there so far. But obviously we'll keep watching that closely. It's dynamic. Operator Quinn Bolton, Needham & Company. Quinn Bolton Hey, guys. Let me offer my congratulations on the nice results and outlook. I wanted to follow up on the inventory question, Dean. Looks like you're going to modestly increase channel inventory in the June quarter, and you said it would take several quarters to get back to the 70-, 75-day target. Is that something you would anticipate getting back to say by the end of the calendar year? Is that a good timeframe for us to be thinking about when you would normalize or look to normalize channel inventory? Dean Butler I think that's, without a stake in the ground, directionally right? I think the problem that we face, Quinn, is as POS continues to grow as the channel outflow, the sales to all the sort of long-tail end customers, we're sort of chasing a catch-up, right? So as outflow increases, inflow sort of needs to increase in addition to that. And I think we are likely the pipeline material in there to slowly grow it over the next few quarters. Is it get to 70 by the end of the calendar year? Maybe. It could take a quarter or two longer than that, just depends on how the POS side of that equation is going if that makes sense, Quinn. Quinn Bolton Yeah. It sounds like it takes some time to stage the inventory on the way in and if POS is better or worse than expected, that obviously affects inventory. So yeah, I think it makes sense. And then I guess Matt and Dean, just a question. There continues to be sort of some chatter out there, sort of bottom of the cycle that pricing continues to be pretty aggressive. You guys are showing nice margin expansion. So it doesn't look like you're seeing any adverse effects from pricing. But just wondering if you could talk about what you're seeing in pricing on a like-for-like basis. I know the makeshift Series 2 And series 3 is a tailwind, but are you seeing fab competitors in particular get more aggressive with pricing sort of as we're near at the bottom of the cycle? R. Matthew Johnson Yeah. I guess it felt -- the quick answer on pricing is nothing has really changed. It's been consistent with what we've been seeing for a while now, where a lot of companies would like to have more revenue. And they're trying to use pricing to get more revenue. I haven't seen that meaningfully move the needle at all in terms of share shifts or anything out there in our space. We obviously need to be competitive on pricing, but we thrive relative to our competition on differentiation, bringing features, performance, capabilities that no one else has. And that's how we have a premium gross margin versus anyone we compete against. And that's how we've been able to do, I think, exactly what we said we'd do, which has been incrementally we start working back our gross margin coming through the cycle. So quick answer is no meaningful change. I think the market is behaving as the market behaves, and no change in what we've been saying or our expectations. Operator Joe Moore, Morgan Stanley. Joseph Moore Great. Thank you. You sort of talked about customers. You haven't seen any evidence of pull-ins. Seems like inventories are still under control. Can you talk about what those conversations are like? Because I just imagine, we've seen two years of inventory leaning out, and now we're dealing with on-again, off-again tariffs all over the world. It seems like if I were running a customer's business, I would want to hold more inventory; I would want to build ahead of some of that. So you just give us some sense of what the interaction with customers is like during all of this? R. Matthew Johnson Yeah, Joe. This is Matt. I think, the quick answer is -- and I'm not being wise about this, but fortunately, just having been through this inventory cycle with -- those numbers are all fresh, and we've been taking the inventory assessment of our end customers all along, and we had to stop that. So this has just been a continuation of coming out the other side of the inventory correction cycle. And I think that the fast way to answer what you're asking, no meaningful changes in end-customer inventory, no one trying to build positions, that type of thing. But what we do see is a lot of, people saying the same thing, wondering what the trade policies will do over time, what will stick, what will go away, what the implications will be over time, and the honest answer is no one knows. So I think uncertainty is the easy way to define it. So what that uncertainty hasn't done is driven behavior around inventory, and we're watching that super close. Joseph Moore That's very helpful. Thank you. And then, I want to follow up, at the Analyst Day, you had talked about sources of inorganic growth that you would be willing to think about, larger M&A, things like that. How do you see that in the current environment? Are those deals more difficult to do in this kind of global tension or just how are you thinking about that? R. Matthew Johnson Yeah. No change in our strategic desire there or direction. I think the quick answer is, right now, there's just a lot of uncertainty around trade and where this will land and how it'll play out. So I haven't seen any meaningful changes as a result of that. And I think it's probably too soon to say. Operator Thank you. I will now hand the call back to Giovanni Pacelli. Giovanni Pacelli Thank you, Dee Dee, and thank you all for joining this morning and your interest in the company. Before concluding today's call, I would like to announce our upcoming participation in J.P. Morgan's 53rd Annual Global Technology, Media, and Communications Conference in Boston tomorrow, May 14. We'll also be participating in Stifel's cross-sector conference in Boston on June 4 and Baird's global technology Conference on June 5 in New York City. Thanks, again, and this concludes today's call. Operator This concludes today's conference call. Thank you for participating, and you may now disconnect.
