Short answer
SYNAPTICS Inc (SYNA) filed its fiscal 2026 10-K annual report with the SEC on Aug 10, 2026. It reported revenue of $1.2B (+11.4% year over year) and net income of −$491M.
- Top risk flagged: Regulatory risk from pending merger with ON Semiconductor Corporation, requiring Synaptics stockholder approval and regulatory clearances, expected mid-2027 closing
FY2026 key financial metrics · XBRL
- Revenue
- $1.2B
- +11.4% YoY
- Net income
- −$491M
- −926.8% YoY
- Operating margin
- -5.6%
- +3.2 pp YoY
- Gross margin
- 44.7%
- +0.0 pp YoY
- EPS (diluted)
- −$12.62
- −934.4% YoY
- ROE
- -52.8%
- −49.4 pp YoY
- Operating cash flow
- $149M
- +5.2% YoY
Source: XBRL data from the SYNAPTICS Inc (SYNA) FY2026 10-K on SEC EDGAR. USD.
SYNAPTICS Inc FY2026 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Fabless semiconductor company providing AI-native edge silicon and software platforms for wireless connectivity, human interface, and Edge AI applications
- New emphasis on Synaptics Astra™ family for integrated Edge AI processors, wireless connectivity, and multimodal sensing enabling Physical AI and robotics expansion
- Strategic shift via pending merger with ON Semiconductor announced June 2026, expected mid-2027 closing, exchanging Synaptics shares for onsemi stock at 1.350 ratio
- Employee count approx. 1,700 globally in 15 countries, with 70% in Asia Pacific and 21% in North America, increased retention and 92% engagement survey response in FY26
- Acquisition of Broadcom Wi-Fi technology assets in January 2025 to enhance Edge AI strategy and expand wireless roadmap including Wi-Fi 7/8, GPS, GNSS products through 2028
Management Discussion & Analysis
- Revenue $1,197.2M, up 11.4% YoY from $1,074.3M; Core IoT best performer $389.7M (+43.1%), Mobile worst $166.4M (-13.2%)
- Operating loss improved to $(67.1)M (–5.7% margin) from $(94.1)M (–8.8% margin); gross margin steady at 44.7% for both years
- Enterprise & Automotive revenue $641.1M (+5.1% YoY), Core IoT $389.7M (+43.1%), Mobile $166.4M (–13.2%)
- Operating cash flow $149.4M, share repurchases $92.7M, capex $48.0M, cash increased $51.0M to $442.5M
- Pending merger with onsemi expected mid-2027; risks include geopolitical tensions, supply chain volatility, tariff impacts, and tax valuation allowances affecting deferred tax assets
Risk Factors
- Regulatory risk from pending merger with ON Semiconductor Corporation, requiring Synaptics stockholder approval and regulatory clearances, expected mid-2027 closing
- Geopolitical exposure to Middle East conflict impacting transportation routes like Strait of Hormuz, causing supply chain disruptions and increased logistics costs
- Operational risk from constrained memory component supply and price volatility potentially delaying customer orders and impacting production schedules
- Market disruption from Broadcom acquisition assets integrating into Core IoT product applications, raising competition and product mix complexity
- Financial risk from increased income tax provision of $411.4M in fiscal 2026 due to full valuation allowance against U.S. deferred tax assets after a three-year cumulative loss
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