syna-20260328

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

______________________________________________________________________________________________________

FORM 10-Q

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☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 28, 2026


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to .

Commission file number 000-49602

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SYNAPTICS INCORPORATED

(Exact name of registrant as specified in its charter)

______________________________________________________________________________________________________


Delaware						77-0118518
(State or other jurisdiction of incorporation or organization)						(I.R.S. Employer Identification No.)

1109 McKay Drive

San Jose, California 95131

(Address of principal executive offices) (Zip code)

(408) 904-1100

(Registrant’s telephone number, including area code)

______________________________________________________________________________________________________

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $.001 per share	SYNA	The Nasdaq Global Select Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

☒

Accelerated filer

☐

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of April 30, 2026, the Company had 38,637,685 shares of Common Stock outstanding.

Table of Contents

SYNAPTICS INCORPORATED

QUARTERLY REPORT ON FORM 10-Q

FOR THE QUARTER ENDED MARCH 28, 2026

TABLE OF CONTENTS

Page

Part I. Financial Information

Item 1.

Condensed Consolidated Financial Statements (Unaudited):

Condensed Consolidated Balance Sheets—March 28, 2026 and June 28, 2025

Condensed Consolidated Statements of Operations—Three and Nin e Months Ended March 28, 2026 and March 29, 2025

Condensed Consolidated Statements of Stockholders’ Equity—Three and Nin e Months Ended March 28, 2026 and March 29, 2025

Condensed Consolidated Statements of Cash Flows—Nine Months Ended March 28, 2026 and March 29, 2025

Notes to Condensed Consolidated Financial Statements

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Item 4.

Controls and Procedures

Part II. Other Information

Unregistered Sales of Equity Securities and Use of Proceeds

Item 3.

Defaults Upon Senior Securities

PART I—FINANCIAL INFORMATION

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

SYNAPTICS INCORPORATED AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(in millions, except par value and share amounts)

(unaudited)


	March 2026		June 2025
ASSETS
Current assets:
Cash and cash equivalents	$	404.4	$	391.5
Short-term investments	—		61.0
Accounts receivable, net	162.5		130.3
Inventories	161.3		139.5
Prepaid expenses and other current assets	27.2		29.6
Total current assets	755.4		751.9
Property and equipment, net	82.5		72.1
Goodwill	872.3		872.3
Acquired intangible assets	209.6		262.2
Deferred tax assets	423.8		408.8
Non-current other assets	178.8		217.1
Total assets	$	2,522.4	$	2,584.4
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	77.7	$	98.5
Accrued liabilities	170.5		172.4
Total current liabilities	248.2		270.9
Long-term debt	836.7		834.8
Other long-term liabilities	78.8		83.8
Total liabilities	1,163.7		1,189.5
Stockholders' equity:
Preferred stock:
$0.001 par value; 10,000,000 shares authorized; no shares issued and outstanding	—		—
Common stock:
$0.001 par value; 120,000,000 shares authorized, 71,878,081 and 70,611,845 shares issued, 38,735,446 and 38,642,761 shares outstanding, at March 2026 and June 2025, respectively	0.1		0.1
Additional paid-in capital	1,301.6		1,211.8
Treasury stock: 33,142,635 and 31,969,084 common shares at March 2026 and June 2025, respectively, at cost	(1,089.5)		(1,006.9)
Retained earnings	1,146.5		1,189.9
Total stockholders' equity	1,358.7		1,394.9
Total liabilities and stockholders' equity	$	2,522.4	$	2,584.4

See accompanying notes to condensed consolidated financial statements (unaudited)


3

Table of Contents

SYNAPTICS INCORPORATED AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in millions, except per share data)

(unaudited)


	Three Months Ended				Nine Months Ended
	March				March
	2026		2025		2026		2025
Net revenue	$	294.2	$	266.6	$	889.2	$	791.5
Cost of revenue	160.9		150.8		499.6		432.6
Gross margin	133.3		115.8		389.6		358.9
Operating expenses:
Research and development	94.5		88.6		284.0		253.2
Selling, general, and administrative	49.6		34.7		143.6		134.2
Acquired intangibles amortization	1.9		4.5		10.4		12.1
Intangible asset impairment charges	—		13.8		—		13.8
Restructuring costs	—		0.5		2.6		15.5
Total operating expenses	146.0		142.1		440.6		428.8
Operating loss	(12.7)		(26.3)		(51.0)		(69.9)
Interest expense and other, net	(2.5)		(1.1)		(4.4)		(11.3)
Loss on early extinguishment of debt	—		—		—		(6.5)
Loss before benefit from income taxes	(15.2)		(27.4)		(55.4)		(87.7)
Benefit from income taxes	(7.2)		(5.6)		(12.0)		(44.6)
Net loss	$	(8.0)	$	(21.8)	$	(43.4)	$	(43.1)
Net loss per share:
Basic	$

SEC Form 10-Q filed by Synaptics Incorporated