Allegro MicroSystems Reports First Quarter 2025 Results
| | | | | | | | | | |
|
Reconciliation of Non-GAAP Operating Income | | | | | | | | | |
| | |
Three-Month Period Ended | |
| | |
June 28, 2024 | | |
March 29, 2024 | | |
June 30, 2023 | |
| | |
(Dollars in thousands) | |
|
GAAP Operating (Loss) Income | |
$ |
(10,630 |
) | |
$ |
15,897 | | |
$ |
70,746 | |
|
GAAP Operating Margin (% of net sales) | | |
(6.4 |
)% | | |
6.6 |
% | | |
25.4 |
% |
| | | | | | | | | | |
| Transaction-related costs | | | 1,842 | | | | 7,144 | | | | 3,079 | |
| Impairment of long-lived assets | | | — | | | | 13,218 | | | | — | |
| Purchased intangible amortization | | | 5,410 | | | | 5,501 | | | | 760 | |
| Restructuring costs | | | 2,414 | | | | 2,441 | | | | — | |
| Stock-based compensation | | | 10,118 | | | | 9,618 | | | | 11,042 | |
| Other costs (1) | | | 811 | | | | 3,514 | | | | — | |
|
Total Non-GAAP Adjustments | |
$ |
20,595 | | |
$ |
41,436 | | |
$ |
14,881 | |
| | | | | | | | | | |
|
Non-GAAP Operating Income | |
$ |
9,965 | | |
$ |
57,333 | | |
$ |
85,627 | |
|
Non-GAAP Operating Margin (% of net sales) | | |
6.0 |
% | | |
23.8 |
% | | |
30.8 |
% |
| | | | | | | | | | |
| (1) Included in non-GAAP other costs are non-recurring charges that are individually immaterial for separate disclosure such as project evaluation costs, which consist of costs incurred in connection with debt and equity financings or other non-recurring transactions. | |
