SEMTECH CORP
For the period ended Jan 26, 2025. Filed Mar 25, 2025.
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FY2025 · Filed Mar 25, 2025
SMTC$113.49-2.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Fiscal Year Ended | |||
|---|---|---|---|
| January 26, 2025 | January 28, 2024 | January 29, 2023 | |
| Cash flows from operating activities: | |||
| Net (loss) income | $(161,896) | $(1,092,029) | $61,372 |
| Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 43,499 | 77,968 | 32,151 |
| Amortization of right-of-use assets | 5,872 | 6,484 | 4,742 |
| Right-of-use asset impairment | — | 3,884 | — |
| Investment impairments and credit loss reserves, net | 1,109 | 3,929 | 1,156 |
| Goodwill impairment | 7,490 | 755,621 | — |
| Intangible impairment | — | 131,385 | — |
| Accretion of deferred financing costs and debt discount | 8,274 | 7,320 | 1,421 |
| Write-off of deferred financing costs and debt discount | 13,246 | 4,446 | — |
| Loss on extinguishment of debt | 143,467 | — | — |
| Interest rate swap termination | (3,579) | — | — |
| Deferred income taxes | (21,672) | 40,636 | (15,256) |
| Share-based compensation | 68,036 | 40,170 | 39,248 |
| Loss (gain) on disposition of business operations and assets | 262 | 8 | (18,260) |
| Equity method loss (income) | 547 | (45) | (249) |
| Gain from sale of investments | (277) | — | — |
| Corporate-owned life insurance, net | 3,411 | 4,746 | 810 |
| Amortization of inventory step-up | — | 3,314 | — |
| Changes in assets and liabilities: | |||
| Accounts receivable, net | (28,348) | 27,443 | 2,445 |
| Inventories | (18,666) | 57,308 | (3,752) |
| Other assets | 3,137 | 1,817 | 6,302 |
| Accounts payable | 14,682 | (44,346) | (3,697) |
| Accrued liabilities | (4,623) | (118,517) | 18,921 |
| Other liabilities | (15,984) | (5,462) | (643) |
| Net cash provided by (used in) operating activities | 57,987 | (93,920) | 126,711 |
| Cash flows from investing activities: | |||
| Proceeds from sales of property, plant and equipment | 97 | 410 | 38 |
| Purchase of property, plant and equipment | (7,861) | (29,185) | (28,323) |
| Proceeds from sale of investments | 2,650 | — | 2,275 |
| Purchase of investments | (434) | (930) | (6,748) |
| Purchase of intangibles | (6,341) | (1,915) | — |
| Proceeds from sale of business, net of cash disposed | — | — | 26,193 |
| Acquisition, net of cash acquired | — | — | (1,240,757) |
| Proceeds from corporate-owned life insurance | 4,802 | 8,923 | 5,065 |
| Premiums paid for corporate-owned life insurance | (4,800) | — | (5,065) |
| Net cash used in investing activities | (11,887) | (22,697) | (1,247,322) |
| Fiscal Year Ended | |||
|---|---|---|---|
| January 26, 2025 | January 28, 2024 | January 29, 2023 | |
| Cash flows from financing activities: | |||
| Proceeds from revolving line of credit | 68,250 | 70,000 | 10,000 |
| Payments of revolving line of credit | (283,250) | (5,000) | (33,000) |
| Proceeds from term loans | — | — | 895,000 |
| Payments of term loans | (441,413) | (272,375) | — |
| Proceeds from convertible senior notes | — | 250,000 | 319,500 |
| Proceeds from sale of warrants | — | — | 42,909 |
| Purchase of convertible note hedge | — | — | (72,559) |
| Proceeds from issuance of common stock, net of issuance costs | 640,675 | — | — |
| Proceeds from interest rate swap termination | 4,776 | — | — |
| Deferred financing costs | (824) | (25,361) | (21,760) |
| Payments for employee share-based compensation payroll taxes | (14,025) | (6,714) | (14,190) |
| Proceeds from exercise of stock options | 4,335 | — | 620 |
| Repurchase of common stock | — | — | (50,000) |
| Distributions to noncontrolling interest | (184) | — | — |
| Net cash (used in) provided by financing activities | $(21,660) | $10,550 | $1,076,520 |
| Effect of foreign exchange rate changes on cash and cash equivalents | $(1,282) | $(858) | $— |
| Net increase (decrease) in cash and cash equivalents | 23,158 | (106,925) | (44,091) |
| Cash and cash equivalents at beginning of period | 128,585 | 235,510 | 279,601 |
| Cash and cash equivalents at end of period | $151,743 | $128,585 | $235,510 |
| Supplemental disclosure of cash flow information: | |||
| Interest paid | $72,454 | $83,583 | $11,745 |
| Income taxes paid | $7,979 | $19,758 | $10,364 |
| Non-cash investing and financing activities: | |||
| Accounts payable related to capital expenditures | $183 | $860 | $9,390 |
| Accrued deferred financing costs | $— | $828 | $2,767 |
| Accrued purchase of intangibles | $1,600 | $— | $— |
| Debt extinguished in exchange for common stock | $188,050 | $— | $— |
| Conversion of notes into equity | $— | $1,271 | $— |
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