UK's CML Microsystems FY26 hit by customer inventory woes; sees growth in FY27
UK's CML Microsystems FY26 hit by customer inventory woes; sees growth in FY27
Overview
UK semiconductor maker's preliminary full-year revenue fell yr/yr amid customer inventory overhang
Company posted a pre-tax loss, with gross margin declining to 63% from 69%
Second-half recovery and new $30 mln GNSS contract position CML for renewed growth
Outlook
CML Microsystems expects a return to revenue growth in FY27
Company says order book visibility and improving customer inventory levels support confidence for FY27
Company remains cautious about customer forecasting due to global uncertainties
Result Drivers
CUSTOMER INVENTORY OVERHANG - Co said revenue decline was driven by ongoing customer inventory overhang, which improved in the second half
NRE INCOME MIX - Higher contribution from non-recurring engineering (NRE) income in revenue mix led to lower gross margin, per company
SUPPLY ISSUES RESOLVED - Temporary supply issues with certain SµRF products affected revenue, but availability was restored in the second half
Company press release: ID:nRSQ5622Ia
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
FY Pretax Profit |
| GBP 1.80 mln |
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)