• Allegro MicroSystems Reports Second Quarter 2026 Results

    Источник: Nasdaq GlobeNewswire / 30 окт 2025 07:00:00   America/New_York

    MANCHESTER, N.H., Oct. 30, 2025 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (“Allegro” or the “Company”) (Nasdaq: ALGM), a global leader in power and sensing semiconductor solutions for motion control and energy efficient systems, today announced financial results for its second quarter ended September 26, 2025.

    “We delivered strong second quarter results, with sales of $214 million, up 14% year-over-year, and led by growth in both e-Mobility and Industrial & Other, increasing 21% and 23% year-over-year, respectively. Non-GAAP EPS was $0.13, increasing more than 60% year-over-year,” said Mike Doogue, President and CEO of Allegro. “We saw broad strength in second quarter Automotive sales with growth in e-Mobility and Other Auto, while data center delivered record sales to fuel year-over-year growth in Industrial. In addition to this strong financial performance, year-to-date design wins are well ahead of fiscal 2025, with second quarter wins led by e-Mobility and data center."

    Second Quarter Financial Highlights:

    In thousands, except per share data Three-Month Period Ended  Six-Month Period Ended 
      September 26, 2025  June 27, 2025  September 27, 2024  September 26, 2025  September 27, 2024 
      (Unaudited)  (Unaudited)  (Unaudited)  (Unaudited)  (Unaudited) 
    Net Sales               
    Automotive $155,845  $144,264  $139,680  $300,109  $267,074 
    Industrial and Other  58,449   59,141   47,711   117,590   87,236 
    Total net sales $214,294  $203,405  $187,391  $417,699  $354,310 
    GAAP Financial Measures               
    Gross margin %  46.3%  44.9%  45.7%  45.6%  45.3%
    Operating margin %  2.9%  (1.3)%  2.2%  0.8%  (1.9)%
    Diluted EPS $0.03  $(0.07) $(0.18) $(0.04) $(0.27)
    Non-GAAP Financial Measures               
    Gross margin %  49.6%  48.2%  48.8%  48.9%  48.8%
    Operating margin %  13.9%  11.1%  11.7%  12.5%  9.0%
    Diluted EPS $0.13  $0.09  $0.08  $0.21  $0.11 


    Business Outlook

    For the third quarter of fiscal year 2026 ending December 26, 2025, the Company expects total net sales to be in the range of
    $215 million to $225 million. At the midpoint of this range, it implies growth in net sales of 24% year-over-year.

    The Company also estimates the following results on a non-GAAP basis:

    • Gross Margin is expected to be between 49% and 51%,
    • Interest expense is expected to be approximately $5 million, and
    • Diluted Earnings per Share is expected to be between $0.12 and $0.16.

    Allegro has not provided a reconciliation of its third fiscal quarter outlook for non-GAAP Gross Margin, non-GAAP Operating Expenses, non-GAAP Interest Expense, and non-GAAP Diluted Earnings per Share because estimates of all of the reconciling items cannot be provided without unreasonable efforts. It is difficult to reasonably provide a forward-looking estimate between such forward-looking non-GAAP measures and the comparable forward-looking U.S. generally accepted accounting principles (“GAAP”) measures. Certain factors that are materially significant to Allegro’s ability to estimate these items are out of its control and/or cannot be reasonably predicted.

    Earnings Webcast

    A webcast will be held on Thursday, October 30, 2025 at 8:30 a.m., Eastern Time. Michael C. Doogue, President and Chief Executive Officer, and Derek P. D’Antilio, Executive Vice President and Chief Financial Officer, will discuss Allegro’s business and financial results.

    The webcast will be available on the Investor Relations section of the Company’s website at investors.allegromicro.com. A recording of the webcast will be posted in the same location shortly after the call concludes and will be available for at least 90 days.

    About Allegro MicroSystems

    Allegro MicroSystems, Inc. is leveraging more than three decades of expertise in magnetic sensing and power ICs, to propel automotive, clean energy and industrial automation forward with solutions that enhance efficiency, performance and sustainability. Allegro’s commitment to quality drives transformation across industries, reinforcing our status as a pioneer in “automotive grade” technology and a partner in our customers’ success. For additional information, please visit https://www.allegromicro.com.

    Forward-Looking Statements        

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, contained in this press release including statements regarding our future results of operations and financial position, business strategy, prospective products and the plans and objectives of management for future operations, including, among others, statements regarding the liquidity, growth and profitability strategies and factors affecting our business are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

    Without limiting the foregoing, in some cases, you can identify forward-looking statements by terms such as “aim,” “may,” “will,” “should,” “expect,” “exploring,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “would,” “contemplate,” “believe,” “estimate,” “predict,” “potential,” “seek,” or “continue” or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. No forward-looking statement is a guarantee of future results, performance or achievements, and one should avoid placing undue reliance on such statements.

    Forward-looking statements are based on our management’s current expectations, beliefs and assumptions and on information currently available to us. Such beliefs and assumptions may or may not prove to be correct. Additionally, such forward-looking statements are subject to a number of known and unknown risks, uncertainties and assumptions, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including, but not limited to, those identified in Part II, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and Part I, Item 1A. “Risk Factors” in our Annual Report on Form 10-K for the year ended March 28, 2025, as any such factors may be updated from time to time in our Quarterly Reports on Form 10-Q and our other filings with the Securities and Exchange Commission (the “SEC”). These risks and uncertainties include, but are not limited to: downturns or volatility in general economic conditions; our ability to compete effectively, expand our market share and increase our net sales and profitability; our reliance on a limited number of third-party semiconductor wafer fabrication facilities and suppliers of other materials; any failure to adjust purchase commitments and inventory management based on changing market conditions or customer demand; shifts in our product mix, customer mix or channel mix, which could negatively impact our gross margin; the cyclical nature of the semiconductor industry, including the analog segment in which we compete; any downturn or disruption in the automotive market or industry; our ability to successfully integrate the acquisition of other companies or technologies and products into our business; our ability to compensate for decreases in average selling prices of our products and increases in input costs; our ability to manage any sustained yield problems or other delays at our third-party wafer fabrication facilities or in the final assembly and test of our products; our ability to accurately predict our quarterly net sales and operating results and meet the expectations of investors; our dependence on manufacturing operations in the Philippines; our reliance on distributors to generate sales; events beyond our control impacting us, our key suppliers or our manufacturing partners; our ability to develop new product features or new products in a timely and cost-effective manner; our dependence on growth in the end markets that use our products and the impact that slowdowns in such growth could have on our financial results; the loss of one or more significant customers; our ability to identify, enter and expand in new markets, and to generate returns on such investments; uncertainties related to the design win process and our ability to recover design and development expenses and to generate timely or sufficient net sales or margins; changes in government trade policies, including the imposition of export restrictions and tariffs; our exposures to warranty claims, product liability claims and product recalls; our dependence on international customers and operations; the availability of rebates, tax credits and other financial incentives on end-user demands for certain products; risks, liabilities, costs and obligations related to governmental regulations and other legal obligations, including export/trade control, privacy, data protection, information security, cybersecurity, consumer protection, environmental and occupational health and safety, antitrust, anti-corruption and anti-bribery, product safety, environmental protection, employment matters and tax; the risk of unsolicited acquisition proposals; the volatility of currency exchange rates; our ability to raise capital to support our growth strategy; our indebtedness may limit our flexibility to operate our business; our ability to retain key and highly skilled personnel; the impact of restructuring activities on our business and operating results; our ability to protect our proprietary technology and inventions through patents or trade secrets; our ability to commercialize our products without infringing third-party intellectual property rights; disruptions or breaches of our information technology systems or confidential information or those of our third-party service providers; any failure to maintain effective internal control over financial reporting; changes in tax rates or the adoption of new tax legislation; the negative impacts of sustained inflation on our business; the risks presented by climate change; the risks related to ESG matters; and other events beyond our control. Moreover, we operate in an evolving environment. New risk factors and uncertainties may emerge from time to time, and it is not possible for management to predict all risk factors and uncertainties.

    You should read this press release and the documents that we reference completely and with the understanding that our actual future results may be materially different from what we expect. We qualify all of our forward-looking statements by these cautionary statements. All forward-looking statements speak only as of the date of this press release, and except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements, whether as a result of any new information, future events, changed circumstances or otherwise.

    This press release includes certain non-GAAP financial measures as defined by the SEC rules. These non-GAAP financial measures are provided in addition to, and not as a substitute for or superior to measures of, financial performance prepared in accordance with GAAP. There are a number of limitations related to the use of these non-GAAP financial measures versus their most directly comparable GAAP equivalents. For example, other companies may calculate non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of the presented non-GAAP financial measures as tools for comparison.

    This press release may not be reproduced, forwarded to any person or published, in whole or in part.

    ALLEGRO MICROSYSTEMS, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
    (in thousands, except share and per share amounts)
    (Unaudited)
    		 
           
      Three-Month Period Ended  Six-Month Period Ended 
      September 26, 2025  September 27, 2024  September 26, 2025  September 27, 2024 
    Net sales $214,294  $187,391  $417,699  $354,310 
    Cost of goods sold  115,002   101,729   227,105   193,877 
    Gross profit  99,292   85,662   190,594   160,433 
    Operating expenses:            
    Research and development  50,891   43,510   97,391   88,714 
    Selling, general and administrative  42,158   38,085   89,700   78,282 
    Total operating expenses  93,049   81,595   187,091   166,996 
    Operating income (loss)  6,243   4,067   3,503   (6,563)
    Interest and other expense  (8,958)  (12,398)  (16,211)  (18,341)
    Loss on change in fair value of forward repurchase contract  —   (34,752)  —   (34,752)
    Loss before income taxes  (2,715)  (43,083)  (12,708)  (59,656)
    Income tax benefit  (9,298)  (9,470)  (6,129)  (8,430)
    Net income (loss)  6,583   (33,613)  (6,579)  (51,226)
    Net income attributable to non-controlling interests  64   62   129   124 
    Net income (loss) attributable to Allegro MicroSystems, Inc. $6,519  $(33,675) $(6,708) $(51,350)
    Net income (loss) per common share attributable to Allegro MicroSystems, Inc.:            
    Basic $0.04  $(0.18) $(0.04) $(0.27)
    Diluted $0.03  $(0.18) $(0.04) $(0.27)
    Weighted average shares outstanding:            
    Basic  185,074,119   189,182,850   184,830,588   191,324,281 
    Diluted  186,305,785   189,182,850   184,830,588   191,324,281 


    Supplemental Schedule of Total Net Sales

    The following table summarizes total net sales by market within the Company’s unaudited condensed consolidated statements of operations:

      Three-Month Period Ended  Change  Six-Month Period Ended  Change 
      September 26, 2025  September 27, 2024  Amount  %  September 26, 2025  September 27, 2024  Amount  % 
      (Dollars in thousands)  (Dollars in thousands) 
    Automotive $155,845  $139,680  $16,165   12% $300,109  $267,074  $33,035   12%
    Industrial and Other  58,449   47,711   10,738   23%  117,590   87,236   30,354   35%
    Total net sales $214,294  $187,391  $26,903   14% $417,699  $354,310  $63,389   18%


    ALLEGRO MICROSYSTEMS, INC.
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (in thousands)
      September 26,  March 28, 
      2025
    (Unaudited)    		  2025 
    Assets      
    Current assets:      
    Cash and cash equivalents $117,492  $121,334 
    Restricted cash  9,322   9,773 
    Trade accounts receivable, net  105,770   84,598 
    Inventories  170,681   183,914 
    Prepaid income taxes  9,363   36,662 
    Prepaid expenses and other current assets  40,324   30,247 
    Assets held for sale  16,508   16,508 
    Total current assets  469,460   483,036 
    Property, plant and equipment, net  300,438   302,919 
    Deferred income tax assets  72,955   68,528 
    Goodwill  203,467   202,475 
    Intangible assets, net  250,929   262,115 
    Equity investment in related party  28,542   31,695 
    Other assets  58,537   70,193 
    Total assets $1,384,328  $1,420,961 
    Liabilities, Non-Controlling Interest and Stockholders’ Equity      
    Current liabilities:      
    Trade accounts payable $41,761  $38,733 
    Amounts due to related party  3,263   6,535 
    Accrued expenses and other current liabilities  74,082   65,570 
    Current portion of long-term debt  1,553   1,423 
    Total current liabilities  120,659   112,261 
    Long-term debt  286,135   344,703 
    Other long-term liabilities  31,705   32,897 
    Total liabilities  438,499   489,861 
    Commitments and contingencies      
    Stockholders’ Equity:      
    Preferred stock  —   — 
    Common stock  1,851   1,843 
    Additional paid-in capital  1,029,002   1,012,055 
    Accumulated deficit  (60,299)  (53,591)
    Accumulated other comprehensive loss  (26,379)  (30,752)
    Equity attributable to Allegro MicroSystems, Inc.  944,175   929,555 
    Non-controlling interest  1,654   1,545 
    Total stockholders’ equity  945,829   931,100 
    Total liabilities, non-controlling interest and stockholders’ equity $1,384,328  $1,420,961 


    ALLEGRO MICROSYSTEMS, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (in thousands)
    (Unaudited)
           
      Three-Month Period Ended  Six-Month Period Ended 
      September 26, 2025  September 27, 2024  September 26, 2025  September 27, 2024 
    Cash flows from operating activities:            
    Net income (loss) $6,583  $(33,613) $(6,579) $(51,226)
    Adjustments to reconcile net income (loss) to net cash provided by operating activities:            
    Depreciation and amortization  16,611   15,997   32,827   32,455 
    Amortization of deferred financing costs  717   306   1,650   1,087 
    Deferred income taxes  890   (2,796)  (4,171)  (7,795)
    Stock-based compensation  13,681   11,545   24,443   21,663 
    Loss on change in fair value of forward repurchase contract  —   34,752   —   34,752 
    Provisions for inventory and expected credit losses  1,093   2,111   4,543   4,488 
    Other non-cash reconciling items  217   6,563   159   6,577 
    Changes in operating assets and liabilities:            
    Trade accounts receivable  (16,391)  (13,717)  (21,723)  41,417 
    Inventories  2,020   (2,845)  9,253   (18,831)
    Prepaid expenses and other assets  (9,338)  (14,093)  26,627   (15,808)
    Trade accounts payable  (2,100)  13,470   4,181   13,670 
    Due to and from related parties  361   695   (3,272)  4,132 
    Other changes in operating assets and liabilities, net  6,018   (2,828)  14,042   (16,838)
    Net cash provided by operating activities  20,362   15,547   81,980   49,743 
    Cash flows from investing activities:            
    Purchases of property, plant and equipment  (6,444)  (9,972)  (17,044)  (20,949)
    Net cash used in investing activities  (6,444)  (9,972)  (17,044)  (20,949)
    Cash flows from financing activities:            
    Net proceeds from Refinanced 2023 Term Loan Facility  —   193,483   —   193,483 
    Repayment of term loan  (25,000)  —   (60,000)  (50,000)
    Finance lease payments  (336)  (240)  (538)  (385)
    Receipts on related party notes receivable  —   937   —   1,875 
    Payments for contingent consideration  (1,000)  —   (1,000)  — 
    Payments for taxes related to net share settlement of equity awards  (361)  (1,126)  (9,349)  (12,297)
    Proceeds from issuance of common stock under employee stock purchase plan  1,910   1,987   1,910   1,987 
    Repurchases of common stock  —   (853,805)  —   (853,805)
    Payments for taxes related to repurchase of common stock  (1,713)  —   (1,713)  — 
    Net proceeds from issuance of common stock  —   665,850   —   665,850 
    Dividends paid to non-controlling interest  (23)  —   (23)  — 
    Net cash (used in) provided by financing activities  (26,523)  7,086   (70,713)  (53,292)
    Effect of exchange rate changes on cash and cash equivalents and restricted cash  40   2,200   1,484   1,375 
    Net (decrease) increase in cash and cash equivalents and restricted cash  (12,565)  14,861   (4,293)  (23,123)
    Cash and cash equivalents and restricted cash at beginning of period  139,379   184,177   131,107   222,161 
    Cash and cash equivalents and restricted cash at end of period $126,814  $199,038  $126,814  $199,038 


    Non-GAAP Financial Measures

    In addition to the measures presented in our condensed consolidated financial statements, we regularly review other measures, defined as non-GAAP financial measures by the SEC, to evaluate our business, measure our performance, identify trends, prepare financial forecasts and make strategic decisions. The key measures we consider are non-GAAP Gross Profit, non-GAAP Gross Margin, non-GAAP Operating Expenses, non-GAAP Operating Income, non-GAAP Operating Margin, EBITDA, Adjusted EBITDA, Adjusted EBITDA margin, non-GAAP Profit before Tax, non-GAAP Income Tax Provision, non-GAAP Effective Tax Rate, non-GAAP Net Income Attributable to Allegro MicroSystems, Inc, non-GAAP Basic and Diluted Earnings per Share, non-GAAP Free Cash Flow, and non-GAAP Free Cash Flow as a percentage of net sales (collectively, the “Non-GAAP Financial Measures”). These Non-GAAP Financial Measures provide supplemental information regarding our operating performance on a non-GAAP basis that excludes certain gains, losses and charges of a non-cash nature or that occur relatively infrequently and/or that management considers to be unrelated to our core operations, and in the case of non-GAAP Income Tax Provision, management believes that this non-GAAP measure of income taxes provides it with the ability to evaluate the non-GAAP Income Tax Provision across different reporting periods on a consistent basis, independent of special items and discrete items, which may vary in size and frequency. These Non-GAAP Financial Measures are used by both management and our board of directors, together with the comparable GAAP information, in evaluating our current performance and planning our future business activities.

    The Non-GAAP Financial Measures are supplemental measures of our performance that are neither required by, nor presented in accordance with, GAAP. These Non-GAAP Financial Measures should not be considered as substitutes for GAAP financial measures, such as gross profit, gross margin, net income or any other performance measures derived in accordance with GAAP. Also, in the future we may incur expenses or charges, such as those being adjusted in the calculation of these Non-GAAP Financial Measures. Our presentation of these Non-GAAP Financial Measures should not be construed as an inference that future results will be unaffected by unusual or nonrecurring items. These Non-GAAP Financial Measures exclude costs related to acquisition and related integration expenses, amortization of acquired intangible assets, stock-based compensation, restructuring actions, related-party activities and other non-operational costs.

    Non-GAAP Income Tax Provision

    In calculating the non-GAAP Income Tax Provision, we adjust for the tax effect of adjustments to GAAP results which represents the estimated income tax effect of the adjustments to non-GAAP Profit before Tax described below. We also adjust for any discrete tax items and the impact of non-recurring tax law changes to ensure the non-GAAP Income Tax Rate (“NG ETR”) reflects future operations.

    Our fiscal year 2026 and 2027 NG ETR excludes the impact of the 2025 One Big Beautiful Bill Act’s one-time research and development amortization election which accelerates the amortization of previously capitalized domestic research and development over a two-year period. The NG ETR is applied to non-GAAP Profit before Tax to arrive at the tax effect of adjustments to GAAP results.

    Reconciliation of Non-GAAP Gross Profit and Non-GAAP Gross Margin 
                    
      Three-Month Period Ended  Six-Month Period Ended 
      September 26, 2025  June 27, 2025  September 27, 2024  September 26, 2025  September 27, 2024 
      (Dollars in thousands)  (Dollars in thousands) 
    GAAP Gross Profit $99,292  $91,302  $85,662  $190,594  $160,433 
    GAAP Gross Margin (% of net sales)  46.3%  44.9%  45.7%  45.6%  45.3%
                    
    Non-GAAP adjustments               
    Transaction-related costs  —   —   10   —   9 
    Purchased intangible amortization  5,090   5,089   4,875   10,179   9,750 
    Restructuring costs  751   705   16   1,456   1,216 
    Stock-based compensation  1,017   888   817   1,905   1,378 
    Other Costs  44   —   —   44   — 
    Total Non-GAAP Adjustments $6,902  $6,682  $5,718  $13,584  $12,353 
                    
    Non-GAAP Gross Profit $106,194  $97,984  $91,380  $204,178  $172,786 
    Non-GAAP Gross Margin (% of net sales)  49.6%  48.2%  48.8%  48.9%  48.8%


    Reconciliation of Non-GAAP Operating Expenses 
                    
      Three-Month Period Ended  Six-Month Period Ended 
      September 26, 2025  June 27, 2025  September 27, 2024  September 26, 2025  September 27, 2024 
      (Dollars in thousands)  (Dollars in thousands) 
    GAAP Operating Expenses $93,049  $94,042  $81,595  $187,091  $166,996 
                    
    Research and Development Expenses               
    GAAP Research and Development Expenses  50,891   46,500   43,510   97,391   88,714 
    Non-GAAP adjustments               
    Transaction-related costs  —   —   206   —   1,235 
    Purchased intangible amortization  8   3   —   11   — 
    Restructuring costs  1,639   1,131   260   2,770   429 
    Stock-based compensation  4,907   2,911   3,523   7,818   7,258 
    Other costs(1)  112   35   3   147   3 
    Non-GAAP Research and Development Expenses  44,225   42,420   39,518   86,645   79,789 
                    
    Selling, General and Administrative Expenses               
    GAAP Selling, General and Administrative Expenses  42,158   47,542   38,085   89,700   78,282 
    Non-GAAP adjustments               
    Transaction-related costs  1   130   275   131   1,089 
    Purchased intangible amortization  535   535   535   1,070   1,070 
    Restructuring costs  1,158   1,184   2,046   2,342   3,091 
    Stock-based compensation  7,757   6,963   7,205   14,720   13,027 
    Other costs(1)  476   5,838   (1,820)  6,314   (1,009)
    Non-GAAP Selling, General and Administrative Expenses  32,231   32,892   29,844   65,123   61,014 
                    
    Total Non-GAAP Adjustments  16,593   18,730   12,233   35,323   26,193 
                    
    Non-GAAP Operating Expenses $76,456  $75,312  $69,362  $151,768  $140,803 
                    
    (1) Included in non-GAAP other costs are non-recurring charges that are individually immaterial for separate disclosure, such as project evaluation costs, which consist of costs and estimated costs incurred in connection with debt and equity financings or other non-recurring transactions. 


    Reconciliation of Non-GAAP Operating Income and Non-GAAP Operating Margin 
                    
      Three-Month Period Ended  Six-Month Period Ended 
      September 26, 2025  June 27, 2025  September 27, 2024  September 26, 2025  September 27, 2024 
      (Dollars in thousands)  (Dollars in thousands) 
    GAAP Operating Income (Loss) $6,243  $(2,740) $4,067  $3,503  $(6,563)
    GAAP Operating Margin (% of net sales)  2.9%  (1.3)%  2.2%  0.8%  (1.9)%
                    
    Transaction-related costs  1   130   491   131   2,333 
    Purchased intangible amortization  5,633   5,627   5,410   11,260   10,820 
    Restructuring costs  3,548   3,020   2,322   6,568   4,736 
    Stock-based compensation  13,681   10,762   11,545   24,443   21,663 
    Other costs(1)  632   5,873   (1,817)  6,505   (1,006)
    Total Non-GAAP Adjustments $23,495  $25,412  $17,951  $48,907  $38,546 
                    
    Non-GAAP Operating Income $29,738  $22,672  $22,018  $52,410  $31,983 
    Non-GAAP Operating Margin (% of net sales)  13.9%  11.1%  11.7%  12.5%  9.0%
                    
    (1) Included in non-GAAP other costs are non-recurring charges that are individually immaterial for separate disclosure such as project evaluation costs, which consist of costs and estimated costs incurred in connection with debt and equity financings or other non-recurring transactions. 


    Reconciliation of EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin 
                    
      Three-Month Period Ended  Six-Month Period Ended 
      September 26, 2025  June 27, 2025  September 27, 2024  September 26, 2025  September 27, 2024 
      (Dollars in thousands)  (Dollars in thousands) 
    GAAP Net Income (Loss) $6,583  $(13,162) $(33,613) $(6,579) $(51,226)
    GAAP Net Income (Loss) Margin (% of net sales)  3.1%  (6.5)%  (17.9)%  (1.6)%  (14.5)%
                    
    Interest expense  5,730   6,359   10,353   12,089   15,730 
    Interest income  (159)  (234)  (420)  (393)  (914)
    Income tax (benefit) provision  (9,298)  3,169   (9,470)  (6,129)  (8,430)
    Depreciation & amortization  16,611   16,216   15,997   32,827   32,455 
    EBITDA $19,467  $12,348  $(17,153) $31,815  $(12,385)
                    
    Transaction-related costs  1   130   3,295   131   5,137 
    Restructuring costs  3,403   2,824   2,067   6,227   4,481 
    Stock-based compensation  13,681   10,762   11,545   24,443   21,663 
    Loss on change in fair value of forward repurchase contract  —   —   34,752   —   34,752 
    Other costs(1)  4,271   7,304   (2,195)  11,575   612 
    Adjusted EBITDA $40,823  $33,368  $32,311  $74,191  $54,260 
    Adjusted EBITDA Margin (% of net sales)  19.0%  16.4%  17.2%  17.8%  15.3%
                    
    (1) Included in non-GAAP other costs are non-recurring charges that are individually immaterial for separate disclosure such as project evaluation costs, which consist of costs and estimated costs incurred in connection with debt and equity financings or other non-recurring transactions and income (loss) in earnings of equity investments. 


    Reconciliation of Non-GAAP Profit before Tax 
                    
      Three-Month Period Ended  Six-Month Period Ended 
      September 26, 2025  June 27, 2025  September 27, 2024  September 26, 2025  September 27, 2024 
      (Dollars in thousands)  (Dollars in thousands) 
    GAAP Loss before Income Taxes $(2,715) $(9,993) $(43,083) $(12,708) $(59,656)
                    
    Transaction-related costs  1   130   3,295   131   5,137 
    Transaction-related interest  645   860   141   1,505   850 
    Purchased intangible amortization  5,633   5,627   5,410   11,260   10,820 
    Restructuring costs  3,736   3,020   2,067   6,756   4,481 
    Stock-based compensation  13,681   10,762   11,545   24,443   21,663 
    Loss on change in fair value of forward repurchase contract  —   —   34,752   —   34,752 
    Other costs(1)  4,271   7,304   1,428   11,575   4,235 
    Total Non-GAAP Adjustments $27,967  $27,703  $58,638  $55,670  $81,938 
                    
    Non-GAAP Profit before Tax $25,252  $17,710  $15,555  $42,962  $22,282 
                    
    (1) Included in non-GAAP other costs are non-recurring charges that are individually immaterial for separate disclosure such as project evaluation costs, which consist of costs and estimated costs incurred in connection with debt and equity financings or other non-recurring transactions and income (loss) in earnings of equity investments. 


    Reconciliation of Non-GAAP Income Tax Provision and Non-GAAP Effective Tax Rate 
                    
      Three-Month Period Ended  Six-Month Period Ended 
      September 26, 2025  June 27, 2025  September 27, 2024  September 26, 2025  September 27, 2024 
      (Dollars in thousands)  (Dollars in thousands) 
    GAAP Income Tax (Benefit) Provision $(9,298) $3,169  $(9,470) $(6,129) $(8,430)
    GAAP effective tax rate  342.5%  (31.7)%  22.0%  48.2%  14.1%
                    
    Tax effect of adjustments to GAAP results  10,733   (1,483)  10,071   9,250   9,676 
                    
    Non-GAAP Income Tax Provision $1,435  $1,686  $601  $3,121  $1,246 
    Non-GAAP effective tax rate  5.7%  9.5%  3.9%  7.3%  5.6%


    Reconciliation of Non-GAAP Net Income Attributable to Allegro MicroSystems, Inc. and Non-GAAP Earnings per Share 
                    
      Three-Month Period Ended  Six-Month Period Ended 
      September 26, 2025  June 27, 2025  September 27, 2024  September 26, 2025  September 27, 2024 
      (Dollars in thousands)  (Dollars in thousands) 
    GAAP Net Income (Loss) Attributable to Allegro MicroSystems, Inc.(1) $6,519  $(13,227) $(33,675) $(6,708) $(51,350)
    GAAP Basic weighted average common shares  185,074,119   184,587,027   189,182,850   184,830,588   191,324,281 
    GAAP Diluted weighted average common shares  186,305,785   184,587,027   189,182,850   184,830,588   191,324,281 
    GAAP Basic Income (Loss) per Share $0.04  $(0.07) $(0.18) $(0.04) $(0.27)
    GAAP Diluted Income (Loss) per Share $0.03  $(0.07) $(0.18) $(0.04) $(0.27)
                    
    Transaction-related costs  1   130   3,295   131   5,137 
    Transaction-related interest  645   860   141   1,505   850 
    Purchased intangible amortization  5,633   5,627   5,410   11,260   10,820 
    Restructuring costs  3,736   3,020   2,067   6,756   4,481 
    Stock-based compensation  13,681   10,762   11,545   24,443   21,663 
    Loss on change in fair value of forward repurchase contract  —   —   34,752   —   34,752 
    Other costs(2)  4,271   7,304   1,428   11,575   4,235 
    Total Non-GAAP Adjustments  27,967   27,703   58,638   55,670   81,938 
    Tax effect of adjustments to GAAP results(3)  (10,733)  1,483   (10,071)  (9,250)  (9,676)
    Non-GAAP Net Income Attributable to Allegro MicroSystems, Inc. $23,753  $15,959  $14,892  $39,712  $20,912 
    Basic weighted average common shares  185,074,119   184,587,027   189,182,850   184,830,588   191,324,281 
    Diluted weighted average common shares  186,305,785   185,416,258   189,710,595   185,800,398   192,154,185 
    Non-GAAP Basic Earnings per Share $0.13  $0.09  $0.08  $0.21  $0.11 
    Non-GAAP Diluted Earnings per Share $0.13  $0.09  $0.08  $0.21  $0.11 
                    
    (1) GAAP Net Income (Loss) Attributable to Allegro MicroSystems, Inc. represents GAAP Net Income (Loss) adjusted for Net Income Attributable to non-controlling interests. 
    (2) Included in non-GAAP other costs are non-recurring charges that are individually immaterial for separate disclosure, such as project evaluation costs, which consists of costs and estimated costs incurred in connection with debt and equity financings or other non-recurring transactions, income (loss) in earnings of equity investments, and unrealized losses (gains) on investments. 
    (3) To calculate the tax effect of adjustments to GAAP results, the Company considers each Non-GAAP adjustment by tax jurisdiction, reverses all discrete items, non-recurring law changes to calculate an annual NG ETR. This NG ETR is then applied to Non-GAAP Profit Before Tax to arrive at the tax effect of adjustments to GAAP results. 


    Reconciliation of Non-GAAP Free Cash Flow and Non-GAAP Free Cash Flow as Percentage of Net Sales    
                    
      Three-Month Period Ended  Six-Month Period Ended 
      September 26, 2025  June 27, 2025  September 27, 2024  September 26, 2025  September 27, 2024 
      (Dollars in thousands)  (Dollars in thousands) 
    GAAP Operating Cash Flow $20,362  $61,618  $15,547  $81,980  $49,743 
    GAAP Operating Cash Flow (% of net sales)  9.5%  30.3%  8.3%  19.6%  14.0%
    Non-GAAP adjustments               
    Purchases of property, plant and equipment  (6,444)  (10,600)  (9,972)  (17,044)  (20,949)
    Non-GAAP Free Cash Flow $13,918  $51,018  $5,575  $64,936  $28,794 
    Non-GAAP Free Cash Flow (% of net sales)  6.5%  25.1%  3.0%  15.5%  8.1%

    Investor Contact:
    Jalene Hoover
    VP of Investor Relations & Corporate Communications
    +1 (512) 751-6526
    jhoover@allegromicro.com 


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