Lattice Q2 growth accelerates as AMI expands its platform opportunity

Transcript intelligence

What changed

Management reported record Q2 revenue and raised its Q3 outlook; the AMI acquisition has closed, shifting the focus from a planned transaction to integration and cross-selling execution.

Guidance delta

Q3 2026 revenue guidance is $245M–$265M and non-GAAP EPS is $0.54–$0.58. The prior quarter’s Q2 guidance was $175M–$195M and $0.42–$0.46; the transcript analysis characterizes guidance sentiment as raised.

Key takeaways

• Q2 revenue was $201M, up 62% year over year; Compute & Communications grew 83% year over year.
• Non-GAAP EPS was $0.53, up more than 120% year over year, with a 38.3% operating margin.
• AMI has closed; management expects it to add a $200M-plus revenue run-rate at high gross margins.
• Q3 guidance calls for revenue of $245M–$265M and non-GAAP EPS of $0.54–$0.58.
• Management cited backlog extending into 2027 and agreements to support supply-chain capacity.

Management priorities

• Integrate AMI firmware and manageability with Lattice’s FPGA portfolio and pursue cross-selling.
• Expand AI infrastructure and rack-scale solutions, alongside physical AI applications.
• Invest in R&D while maintaining disciplined operating-expense growth and building supply capacity.