SEMTECH CORP
For the period ended Jan 25, 2026. Filed Mar 23, 2026.
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FY2026 · Filed Mar 23, 2026
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 25, 2026 | January 26, 2025 | January 28, 2024 | |
| Cash flows from operating activities: | |||
| Net loss | $(40,376) | $(161,896) | $(1,092,029) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 40,807 | 43,499 | 77,968 |
| Amortization of right-of-use assets | 5,522 | 5,872 | 6,484 |
| Right-of-use asset impairment | — | — | 3,884 |
| Investment impairments and credit loss reserves, net | 10,387 | 1,109 | 3,929 |
| Goodwill impairment | 84,785 | 7,490 | 755,621 |
| Intangible impairment | 1,777 | — | 131,385 |
| Accretion of deferred financing costs and debt discount | 4,788 | 8,274 | 7,320 |
| Write-off of deferred financing costs and debt discount | 2,388 | 13,246 | 4,446 |
| Loss on extinguishment of debt | — | 143,467 | — |
| Induced conversion expense | 21,188 | — | — |
| Interest rate swap termination | (1,145) | (3,579) | — |
| Deferred income taxes | 7,874 | (21,672) | 40,636 |
| Share-based compensation | 57,723 | 68,036 | 40,170 |
| Loss on disposition of business operations and assets | 75 | 262 | 8 |
| Equity method (income) loss | (636) | 547 | (45) |
| Gain from sale of investments | — | (277) | — |
| Corporate-owned life insurance, net | 2,917 | 3,411 | 4,746 |
| Amortization of inventory step-up | — | — | 3,314 |
| Changes in assets and liabilities: | |||
| Accounts receivable, net | 3,343 | (28,348) | 27,443 |
| Inventories | (30,652) | (18,666) | 57,308 |
| Other assets | (12,033) | 3,137 | 1,817 |
| Accounts payable | 22,530 | 14,682 | (44,346) |
| Accrued liabilities | 5,011 | (4,623) | (118,517) |
| Other liabilities | (5,105) | (15,984) | (5,462) |
| Net cash provided by (used in) operating activities | 181,168 | 57,987 | (93,920) |
| Cash flows from investing activities: | |||
| Proceeds from sales of property, plant and equipment | 8 | 97 | 410 |
| Purchase of property, plant and equipment | (9,783) | (7,861) | (29,185) |
| Proceeds from sale of investments | 1,936 | 2,650 | — |
| Purchase of investments | — | (434) | (930) |
| Purchase of intangibles | (6,022) | (6,341) | (1,915) |
| Acquisition, net of cash acquired | (21,472) | — | — |
| Proceeds from corporate-owned life insurance | — | 4,802 | 8,923 |
| Premiums paid for corporate-owned life insurance | (3,428) | (4,800) | — |
| Net cash used in investing activities | (38,761) | (11,887) | (22,697) |
| Fiscal Year Ended | |||
|---|---|---|---|
| January 25, 2026 | January 26, 2025 | January 28, 2024 | |
| Cash flows from financing activities: | |||
| Proceeds from revolving line of credit | — | 68,250 | 70,000 |
| Payments of revolving line of credit | — | (283,250) | (5,000) |
| Payments of term loans | (181,212) | (441,413) | (272,375) |
| Proceeds from convertible senior notes | 402,500 | — | 250,000 |
| Payments of convertible senior notes | (280,950) | — | — |
| Repurchase of warrants | (217,761) | — | — |
| Proceeds from unwind of convertible note hedge | 242,251 | — | — |
| Purchase of capped calls | (31,395) | — | — |
| Proceeds from issuance of common stock, net of issuance costs | — | 640,675 | — |
| Proceeds from interest rate swap termination | 295 | 4,776 | — |
| Deferred financing costs | (11,653) | (824) | (25,361) |
| Payments for employee share-based compensation payroll taxes | (27,293) | (14,025) | (6,714) |
| Proceeds from exercise of stock options | 4,150 | 4,335 | — |
| Distributions to noncontrolling interest | — | (184) | — |
| Net cash (used in) provided by financing activities | $(101,068) | $(21,660) | $10,550 |
| Effect of foreign exchange rate changes on cash and cash equivalents | $2,097 | $(1,282) | $(858) |
| Net increase (decrease) in cash and cash equivalents | 43,436 | 23,158 | (106,925) |
| Cash and cash equivalents at beginning of period | 151,743 | 128,585 | 235,510 |
| Cash and cash equivalents at end of period | $195,179 | $151,743 | $128,585 |
| Supplemental disclosure of cash flow information: | |||
| Interest paid | $16,306 | $72,454 | $83,583 |
| Income taxes paid | $4,076 | $7,979 | $19,758 |
| Non-cash investing and financing activities: | |||
| Accounts payable related to capital expenditures | $2,415 | $183 | $860 |
| Accrued deferred financing costs | $— | $— | $828 |
| Accrued purchase of intangibles | $2,157 | $1,600 | $— |
| Debt extinguished in exchange for common stock | $— | $188,050 | $— |
| Conversion of notes into equity | $— | $— | $1,271 |
| Write-off of deferred financing costs pursuant to induced conversion | $4,598 | $— | $— |
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