Lattice Files AMI Acquisition Financials: Pro Forma Shows $102.6M FY25 Net Loss
LSCC has more than doubled off its 52-week low of $60.5.
Summary
Lattice Semiconductor filed the required financial statements for its $1.6 billion AMI acquisition, revealing pro forma combined net losses of $102.6 million for FY2025 and $2.1 million for H1 2026 due to acquisition-related amortization, stock compensation, and interest expense.
Key Events · M&A and Partnerships · LSCC
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AMI Acquisition Financials Disclosed
AMI generated $194.7M revenue with a $14.0M net loss in FY2025, and $102.3M revenue with a $4.7M net loss in H1 2026.
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Pro Forma Combined Losses
Pro forma combined results show a $102.6M net loss for FY2025 and $2.1M net loss for H1 2026, driven by $67.7M annual intangible amortization, $48.7M stock-based compensation, and $53.3M interest expense.
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Purchase Price Allocation
Total consideration of $1.588B allocated to $1.052B goodwill, $551M intangibles (tradename $37M, developed technology $258M, customer relationships $256M), and $733.5M cash plus $582.8M equity at $122.91/share.
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Financing Impact
The $925M delayed draw term loan at SOFR + 1.75% adds $53.3M in annual interest expense, with each 0.125% rate change impacting interest by $1.2M annually.
Analysis · LSCC · Manufacturing
This amendment finally provides the financial details behind Lattice's $1.6 billion AMI acquisition that closed in July. The pro forma combined statements reveal the deal's true cost: a $102.6 million net loss for fiscal 2025 and a $2.1 million loss for the first half of 2026, driven by $67.7 million in annual intangible amortization, $48.7 million in new stock-based compensation, and $53.3 million in new interest expense from the $925 million term loan. The purchase price allocation shows $1.05 billion in goodwill and $551 million in intangibles, meaning Lattice paid a substantial premium for AMI's firmware business. While AMI adds $194.7 million in annual revenue, the combined entity's profitability takes a significant hit from acquisition accounting and financing costs.
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At the time of this filing, LSCC was trading at $121.15 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $17.2B. The 52-week trading range was $60.50 to $157.01. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.