Management remarks
Call period: 2026 Q2 · 2026-07-28
Guidance: Bill Betz: At the midpoint of our Q3 guidance, the year-to-date revenue was $10.4 billion, up 17% versus the same period in 2025 and consistent with a double-digit growth trajectory.Demand and orders: Bill Betz: We're just basically -- finally, I think in Q4, Q1, we were finally shipping to real end demand, inventory digestion is behind us, but we have not seen any pull forwards or restocking efforts specifically with their Tier 1s in the Western world.Margins: Bill Betz: We expect non-GAAP gross margin of 58.5%, plus or minus 50 basis points which is up 150 basis points year-on-year and up 50 basis points sequentially, driven by the higher revenue and our manufacturing utilization.Analyst Q&A
Analyst James Schneider asked: I was wondering if you could maybe following up with the prior question, just sort of reiterate the double-digit growth outlook you expressed last quarter on the call in terms of 2027. And specifically, the 60% kind of gross margin level that you expressed. Anything that kind of like changes your confidence there? Management Bill Betz answered: Jim, this is Bill. There's no change of what we previously said. As you hear, we continue to see things improve on the revenue side. So that's all intact. Related to gross margins, again, we feel very confident of hitting what we shared using our rule of thumb. You can see that play out in our results from a year-over-year perspective, actually do a bit better. So everything intact linked to the higher revenues we plan for and scales very nicely into our model.管理层陈述
电话会期间：2026 Q2 · 2026-07-28
指引：比尔·贝茨：在我们第三季度业绩指引的中点，今年迄今为止的收入为104亿美元，较2025年同期增长17%，符合双位数增长轨迹。需求与订单：比尔·贝茨：我认为，我们终于在第四季度、第一季度开始向实际终端需求发货，库存消化已告一段落，但我们尚未看到西方地区一级客户的提前下单或补货行为。利润率：比尔·贝茨：我们预计非公认会计准则毛利率为58.5%，上下浮动50个基点，同比增加150个基点，环比增加50个基点，这得益于更高的收入和我们的制造利用率。分析师问答
分析师詹姆斯·施奈德提问：能否请您重申上个季度电话会议中提到的2027年两位数增长展望，以及此前提及的60%左右的毛利率目标？有没有因素会改变您在这方面的信心？ 管理层比尔·贝茨回应：吉姆，我是比尔。我们此前的表述没有任何变化，营收方面持续改善，所有目标均保持不变。关于毛利率，我们有信心实现此前分享的目标，同比业绩实际表现甚至稍好，所有目标均与规划的更高营收挂钩且契合我们的业务模型。This earnings research was prepared from company results, regulatory filings, financial statements, and earnings-call transcripts or official replays. It is for informational purposes only and does not constitute investment advice.这篇财报研究基于公司业绩公告、监管文件、财务报表，以及财报电话会议记录或官方回放整理。内容仅供参考，不构成投资建议。
