# Semtech's $26.4m of stock compensation exceeds its $25.8m operating income

![Semtech's $26.4m of stock compensation exceeds its $25.8m operating income](https://aiswingx.com/static/covers/smtc-fy27q2_cover.jpg?v=1790192047)

**FY2027 Q2 10-Q: revenue rose 6% to $291.0m and operating income was $25.8m. In the same quarter share-based compensation jumped 61% to $26.4m, past the operating line. Income tax recorded was $112,000**

Semtech (SMTC) reported revenue of $291.0m for the second quarter of fiscal 2027, up 6% on the prior quarter, with operating income of $25.8m. Share-based compensation in the same quarter's cash flow statement was $26.4m — $0.6m more than the operating income.

- 종목: SMTC (Semtech Corporation)
- 분기: 2027Q2 · 10-Q
- 작성: 2026-09-23 19:34 UTC
- 원문: https://aiswingx.com/p/smtc-fy27q2

## 숫자 하나
FY2027 Q2 revenue $291.0m (+6%), operating income $25.8m, share-based compensation $26.4m (102.3% of operating income, +61%), income tax $112,000 (0.4% effective rate).

## 비유 하나
(구독자 전용)

## 출처 하나
Semtech Corporation Form 10-Q (fiscal 2027 second quarter, accession 0000088941-26-000034): consolidated statement of operations, cash flows and balance sheet; share-based compensation note; income tax note. Quarterly figures cross-checked against SEC XBRL Company Facts.

## 다음 분기에 볼 것
(구독자 전용)

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## What happened

Semtech (SMTC) makes the semiconductors that go into communications equipment and connected devices.

In the second quarter of fiscal 2027 revenue and profit grew together.

| Line | Prior quarter | FY2027 Q2 |
|---|---|---|
| Revenue | $274.4m | **$291.0m** (+6.0%) |
| Gross profit | $138.3m | $151.5m |
| Gross margin | 50.4% | **52.1%** |
| Operating income | $(18.3)m | **+$25.8m** |

An $18.3m operating loss in the prior quarter became $25.8m of operating income in this one.

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## FAQ

**Q. What does it mean when stock pay exceeds operating income?**

The relationship between the two is tabled in the subscriber section.

**Q. Did cash fall?**

Operating cash for the quarter, less capital spending, is in the subscriber section.

**Q. Why is the tax so small?**

Pre-tax income, tax and the effective rate are set out in the subscriber section.

**Q. Was equity ever negative?**

Total equity across four quarters is in the subscriber section.

**Q. Where can I check this myself?**

On SEC EDGAR, open Semtech Corporation's fiscal 2027 second-quarter 10-Q (accession 0000088941-26-000034) and read the statements of operations and cash flows.