Financial Analysis

"Commitments and Contingencies Unconditional Purchase Commitments The following table presents the Companys open capital commitments and other open purchase commitments for the purchase of plant, equipment, raw material, supplies and services as of January 25, 2026: (in thousands) Less than 1 year 1-3 years Total Open capital purchase commitments $ 5,812 $ 250 $ 6,062 Other open purchase commitments 360,821 47,255 408,076 Total purchase commitments $ 366,633 $ 47,505 $ 414,138 Legal Matters From time to time, the Company is involved in various claims, litigation, and other legal actions that are normal to the nature of its business, including with respect to intellectual property, contract, product liability, employment, and environmental matters. In accordance with ASC 450-20, ""Loss Contingencies,"" the Company accrues an undiscounted liability for those contingencies where the incurrence of a loss is probable and the amount can be reasonably estimated. The Company also discloses the amount accrued and the amount of a reasonably possible loss in excess of the amount accrued, if material and if the amount can be reasonably estimated. The Company does not record liabilities when the likelihood that the liability has been incurred is probable but the amount cannot be reasonably estimated, or when the liability is believed to be only reasonably possible or remote. However, for liabilities that are reasonably possible but not probable, the Company discloses the amount of reasona …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

"Long-Term Debt Long-term debt and the current period interest rates were as follows: (in thousands) January 25, 2026 January 26, 2025 Term loans $ $ 181,212 1.625% convertible senior notes due 2027 100,500 319,500 4.00% convertible senior notes due 2028 61,950 0% convertible senior notes due 2030 402,500 Total debt 503,000 562,662 Current portion, net (45,594) Debt issuance costs (11,766) (11,135) Total long-term debt, net of debt issuance costs $ 491,234 $ 505,933 Weighted-average effective interest rate (1) 0.55 % 4.10 % (1) The revolving loans and Term Loans (as defined below) bear interest at variable rates based on Adjusted Term SOFR or a Base Rate (as defined in the Credit Agreement), at the Companys option, plus an applicable margin that varies based on the Companys consolidated leverage ratio. In the first quarter of fiscal year 2024, the Company entered into an interest rate swap agreement with a 2.75 year term to hedge the variability of interest payments on $150.0 million of debt outstanding on the Term Loans at a fixed Term SOFR rate of 3.58%, plus a variable margin and spread based on the Companys consolidated leverage ratio. As of January 25, 2026, the effective interest rate was a weighted-average rate that represented (a) interest on the remaining debt under the 2027 Notes outstanding at a fixed rate of 1.625%, and (b) interest on the 2030 Notes outstanding at a fixed rate of 0%. As of January 26, 2025, the effective interest rate was a weighted-average rate …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

"Share-Based Compensation Financial Statement Effects and Presentation Pre-tax share-based compensation was included in the Statements of Operations for fiscal years 2026, 2025 and 2024 as follows: Fiscal Year Ended (in thousands) January 25, 2026 January 26, 2025 January 28, 2024 Cost of sales $ 2,697 $ 2,933 $ 1,995 Product development and engineering 15,098 13,965 12,844 Selling, general and administrative 39,928 51,138 25,331 Share-based compensation $ 57,723 $ 68,036 $ 40,170 Restricted Stock Units, Employees The Company grants restricted stock units to certain employees of which a portion are expected to be settled with shares of the Company's common stock and a portion are expected to be settled in cash. The restricted stock units that are to be settled with shares are accounted for as equity. The grant date for these awards is equal to the measurement date and they are valued as of the measurement date, based on the closing price for a share of Company common stock on the grant date, and recognized as share-based compensation expense over the requisite vesting period (typically between 1 and 4 years). The restricted stock units that are to be settled in cash are accounted for as liabilities and the value of the awards is re-measured at the end of each reporting period until settlement at the end of the requisite vesting period (typically 3 years). The following table summarizes the activity for restricted stock units awarded to employees for fiscal year 2026: (in thou …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

"Fair Value Measurements Instruments Measured at Fair Value on a Recurring Basis The fair values of financial assets and liabilities measured and recorded at fair value on a recurring basis were presented in the Balance Sheets as follows: January 25, 2026 January 26, 2025 (in thousands) Total (Level 1) (Level 2) (Level 3) Total (Level 1) (Level 2) (Level 3) Financial assets: Interest rate swap agreement $ $ $ $ $ 745 $ $ 745 $ Convertible debt investments 12,715 12,715 Foreign currency forward contracts 474 474 Total financial assets $ 474 $ $ 474 $ $ 13,460 $ $ 745 $ 12,715 During the fiscal year ended January 25, 2026, the Company had no transfers of financial assets or liabilities between Level 1 or Level 2. As of January 25, 2026 and January 26, 2025, the Company had not elected the fair value option for any financial assets and liabilities for which such an election would have been permitted. The convertible debt investments are valued utilizing a combination of estimates that are based on the estimated discounted cash flows associated with the debt and the fair value of the equity into which the debt may be converted, all of which are Level 3 inputs. The following table presents a reconciliation of the changes in convertible debt investments in the fiscal year ended January 25, 2026: (in thousands) Balance at January 26, 2025 $ 12,715 Fair market value adjustment to OCI (3,195) Other-than-temporary impairment (9,520) Balance at January 25, 2026 $ The interest rate swap …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

"Goodwill and Intangible Assets Goodwill The following table summarizes goodwill by applicable operating segments: Balance as of January 25, 2026 Balance as of January 26, 2025 (in thousands) Goodwill Accumulated Impairment Losses Carrying Value Goodwill Accumulated Impairment Losses Carrying Value Signal Integrity $ 267,205 $ $ 267,205 $ 267,205 $ $ 267,205 Analog Mixed Signal and Wireless 91,068 91,068 83,101 83,101 IoT Systems and Connectivity 947,548 (847,896) 99,652 945,896 (763,111) 182,785 Total goodwill $ 1,305,821 $ (847,896) $ 457,925 $ 1,296,202 $ (763,111) $ 533,091 The following table summarizes the change in goodwill by applicable operating segments: (in thousands) Signal Integrity Analog Mixed Signal and Wireless IoT Systems and Connectivity Total Balance at January 26, 2025 $ 267,205 $ 83,101 $ 182,785 $ 533,091 Addition from acquisition 7,967 7,967 Cumulative translation adjustment 1,652 1,652 Impairment (84,785) (84,785) Balance at January 25, 2026 $ 267,205 $ 91,068 $ 99,652 $ 457,925 During the fourth quarter of fiscal year 2026, the Company completed an immaterial acquisition, which resulted in the addition of $8.0 million in the carrying value of goodwill. The Company currently has three operating segmentsSignal Integrity (""SIP""), Analog Mixed Signal and Wireless (""AMW""), and IoT Systems and Connectivity (""ISC""). As of January 25, 2026 the Company has six reporting unitsSignal Integrity, Advanced Protection and Sensing, Wireless, IoT SystemsModules …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

"Income Taxes The Company's regional income before income taxes and equity in net gains (losses) of equity method investments was as follows: Fiscal Year Ended (in thousands) January 25, 2026 January 26, 2025 January 28, 2024 Domestic $ (45,923) $ (183,751) $ (306,039) Foreign 24,743 390 (735,516) Total $ (21,180) $ (183,361) $ (1,041,555) The provision for income taxes consisted of the following: Fiscal Year Ended (in thousands) January 25, 2026 January 26, 2025 January 28, 2024 Current income tax (benefit) provision Federal $ (613) $ (10,416) $ 1,758 State 485 1,513 1 Foreign 14,111 9,949 8,750 Subtotal 13,983 1,046 10,509 Deferred income tax (benefit) provision Federal 50,938 State 51 Foreign 5,849 (23,058) (10,979) Subtotal 5,849 (23,058) 40,010 Provision for income taxes $ 19,832 $ (22,012) $ 50,519 The Company adopted ASU 2023-09 ""Income Taxes (Topic 740): Improvements to Income Tax Disclosures"" on a prospective basis beginning with the year ended January 25, 2026. The following table presents required disclosure pursuant to ASU 2023-09 and reconciles the U.S. federal statutory tax amount and rate to our actual global effective amount and rate for the year ended January 25, 2026: Fiscal Year Ended (in thousands) January 25, 2026 U.S. Federal statutory rate $ (4,448) 21.0% State and local taxes, net of federal income tax effect New York (245) 1.2% Other (78) 0.4% Foreign tax effects Switzerland Tax rate differential (3,582) 16.9% Shared-based compensation (2,652) 12.5% …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

"Leases The Company has operating leases for real estate, vehicles and office equipment, which are accounted for in accordance with ASC 842, ""Leases."" Real estate leases are used to secure office space for the Company's administrative, engineering, production support and manufacturing activities. The Company's leases have remaining lease terms of up to eight years, some of which include options to extend the leases for up to five years, and some of which include options to terminate the leases within one year. The components of lease expense were as follows: Fiscal Year Ended (in thousands) January 25, 2026 January 26, 2025 Operating lease cost $ 7,273 $ 7,278 Short-term lease cost 65 219 Less: sublease income (522) (552) Total lease cost $ 6,816 $ 6,945 Supplemental cash flow information related to leases was as follows: Fiscal Year Ended (in thousands) January 25, 2026 January 26, 2025 Cash paid for amounts included in the measurement of lease liabilities $ 7,878 $ 7,899 Right-of-use assets obtained in exchange for new operating lease liabilities $ 7,180 $ 3,509 January 25, 2026 Weighted-average remaining lease term - operating leases (in years) 4.8 Weighted-average discount rate on remaining lease payments - operating leases 6.9 % Supplemental balance sheet information related to leases was as follows: (in thousands) January 25, 2026 January 26, 2025 Operating lease right-of-use assets in ""Other Assets"" $ 23,455 $ 21,729 Operating lease liabilities in ""Accrued Liabili …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

"Future Accounting Standards In September 2025, the FASB issued ASU 2025-06, IntangiblesGoodwill and OtherInternal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software , which removes all references to prescriptive and sequential software development stages, or ""project stages"", throughout Subtopic 350-40, and instead specifies that an entity is required to start capitalizing software costs when management has authorized and committed to funding the software project and it is probable that the project will be completed and the software will be used to perform the function intended. The amendments are effective for the Company for annual reporting periods beginning after December 15, 2027, and interim periods within those annual reporting periods. Early adoption is permitted. ASU 2025-06 may be applied using the prospective, modified, or retrospective transition methods. The Company is currently evaluating the impact of this guidance on its consolidated financial statements. In July 2025, the FASB issued ASU 2025-05, Financial InstrumentsCredit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets , which allows public business entities a practical expedient. Under this practical expedient, an entity is allowed to assume that the current conditions it has applied in determining credit loss allowances for current accounts receivable and current contract assets remain unchanged for the remainin …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

"Restructuring From time to time, the Company takes steps to realign the business to focus on high-growth areas, provide customer value and make the Company more efficient. As a result, the Company has re-aligned resources and infrastructure, which resulted in restructuring charges related to one-time employee termination benefits of $4.2 million in fiscal year 2026 and $4.9 million in fiscal year 2025. The Company had restructuring charges of $24.6 million in fiscal year 2024, which resulted from the realization of synergies of the Sierra Wireless Acquisition. The Company also implemented a separate reduction in workforce plan that commenced during the second quarter of fiscal year 2024 and was substantially completed during the third quarter of fiscal year 2024. Additionally, the Company had $3.9 million of right-of-use asset impairments related to abandonments in fiscal year 2024. Restructuring related liabilities are included in ""Accrued liabilities"" in the Balance Sheets. Restructuring activity is summarized as follows: (in thousands) One-time employee termination benefits Other restructuring Total Balance at January 29, 2023 $ 4,027 $ 12 $ 4,039 Charges (1) 17,793 6,841 24,634 Cash payments and non-cash releases (16,021) (6,375) (22,396) Balance at January 28, 2024 5,799 478 6,277 Charges 4,836 108 4,944 Cash payments and non-cash releases (9,848) (586) (10,434) Balance at January 26, 2025 787 787 Charges 4,165 21 4,186 Cash payments and non-cash releases (4,255) (21) …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

"Segment Information The Companys Chief Executive Officer functions as the chief operating decision maker (""CODM""). The CODM makes operating decisions and assesses performance based on the net sales and gross profit of the Company's major product lines, which represent its operating segments, to allocate resources (including employees, property, and financial or capital resources) for each segment predominantly in the annual budget and forecasting process. As discussed in Note 7, Goodwill and Intangible Assets, the Company currently has three operating segmentsSIP, AMW, and ISCthat represent three separate reportable segments. The SIP reportable segment consists of a portfolio of optical and copper data communications and video transport products used in a wide variety of infrastructure and industrial applications. The AMW reportable segment provides infrastructure, industrial and high-end customers with high-performance protection devices and a portfolio of specialized radio frequency products. The ISC reportable segment provides industrial customers with an IoT solutions portfolio that includes a wide range of modules, gateways, routers, and connected services. The Companys assets are commingled among the various operating segments and the CODM does not use asset information in making operating decisions or assessing performance. Therefore, the Company has not included asset information by reportable segment in the segment disclosures below. Net sales and gross profit by …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

"Significant Accounting Policies Cash and Cash Equivalents The Company considers all highly-liquid investments with an original maturity of 90 days or less and money market mutual funds to be cash equivalents. At various times, such amounts are in excess of insured limits. Cash equivalents can consist of money market mutual funds, government and corporate obligations, and bank time deposits. Investments The Companys investment policy restricts investments to high credit quality investments with limits on the length to maturity and requires diversification of investment portfolio. These investments, especially corporate obligations, are subject to default risk. The Company classifies its convertible debt investments as available-for-sale (""AFS"") securities and reports these investments at fair value with current and long-term AFS investments included in ""Other current assets"" and ""Other assets,"" respectively, in the Balance Sheets. Unrealized gains or losses, net of tax, are recorded in ""Accumulated other comprehensive loss"" in the Balance Sheets, and realized gains or losses, as well as current expected credit loss reserves are recorded in ""Non-operating income, net"" in the Statements of Operations. The Company has minority equity investments in privately-held companies that are classified in ""Other assets"" in the Balance Sheets. Substantially all of these investments are carried at cost because the Company does not have readily determinable fair values or because …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

"Commitments and Contingencies Legal Matters From time to time, the Company is involved in various claims, litigation, and other legal actions that are normal to the nature of its business, including with respect to intellectual property, contract, product liability, employment, and environmental matters. In accordance with ASC 450-20, ""Loss Contingencies,"" the Company accrues an undiscounted liability for those contingencies where the incurrence of a loss is probable and the amount can be reasonably estimated. The Company also discloses the amount accrued and the amount of a reasonably possible loss in excess of the amount accrued, if material and if the amount can be reasonably estimated. The Company does not record liabilities when the likelihood that the liability has been incurred is probable but the amount cannot be reasonably estimated, or when the liability is believed to be only reasonably possible or remote. However, for liabilities that are reasonably possible but not probable, the Company discloses the amount of reasonably possible loss or range of reasonably possible loss, if material and if the amount can be reasonably estimated. The Company evaluates, at least quarterly, developments in its legal matters that could affect the amount of liability that has been previously accrued, and makes adjustments as appropriate. Significant judgment is required to determine both probability and the estimated amount. The Company may be unable to estimate a possible loss or …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

"Long-Term Debt Long-term debt and the current period interest rates were as follows: (in thousands, except percentages) October 26, 2025 January 26, 2025 Revolving loans $ $ Term loans 181,212 1.625% convertible senior notes due 2027 100,500 319,500 4.00% convertible senior notes due 2028 61,950 0% convertible senior notes due 2030 402,500 Total debt $ 503,000 $ 562,662 Current portion, net $ $ (45,594) Debt issuance costs (12,514) (11,135) Total long-term debt, net of debt issuance costs $ 490,486 $ 505,933 Weighted-average effective interest rate (1) 0.55 % 4.10 % (1) The revolving loans and Term Loans (as defined below) bear interest at variable rates based on Adjusted Term SOFR or a Base Rate (as defined in the Credit Agreement), at the Companys option, plus an applicable margin that varies based on the Company's consolidated leverage ratio. In the first quarter of fiscal year 2024, the Company entered into an interest rate swap agreement with a 2.75 year term to hedge the variability of interest payments on $150.0 million of debt outstanding on the Term Loans at a fixed Term SOFR rate of 3.58%, plus a variable margin and spread based on the Companys consolidated leverage ratio. As of October 26, 2025, the effective interest rate was a weighted-average rate that represented (a) interest on the remaining debt under the 2027 Notes outstanding at a fixed rate of 1.625%, and (b) interest on the 2030 Notes outstanding at a fixed rate of 0%. As of January 26, 2025, the effecti …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

"Share-Based Compensation Financial Statement Effects and Presentation Pre-tax share-based compensation was included in the Statements of Operations as follows: Three Months Ended Nine Months Ended (in thousands) October 26, 2025 October 27, 2024 October 26, 2025 October 27, 2024 Cost of sales $ 722 $ 809 $ 2,030 $ 2,205 Product development and engineering 3,941 3,823 11,110 10,426 Selling, general and administrative 12,475 13,773 28,130 38,146 Total share-based compensation $ 17,138 $ 18,405 $ 41,270 $ 50,777 Restricted Stock Units, Employees The Company grants restricted stock units to certain employees of which a portion are expected to be settled with shares of the Company's common stock and a portion are expected to be settled in cash. The restricted stock units that are to be settled with shares are accounted for as equity. The grant date for these awards is equal to the measurement date and they are valued as of the measurement date, based on the fair value of the Company's common stock at the grant date, and recognized as share-based compensation expense over the requisite vesting period (typically between 1 and 4 years). The restricted stock units that are to be settled in cash are accounted for as liabilities and the value of the awards is re-measured at the end of each reporting period until settlement at the end of the requisite vesting period (typically 3 years). In the nine months ended October 26, 2025, the Company granted to certain employees 1,075,807 restric …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

"Fair Value Measurements The following fair value hierarchy is applied for disclosure of the inputs used to measure fair value and prioritizes the inputs into three levels as follows: Level 1 Quoted prices in active markets for identical assets or liabilities. Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets and liabilities in active markets or other inputs that are observable for the assets or liabilities, either directly or indirectly. Level 3 Unobservable inputs based on the Company's own assumptions, requiring significant management judgment or estimation. Instruments Measured at Fair Value on a Recurring Basis The Company does not have any financial liabilities measured and recorded at fair value. The fair values of financial assets measured and recorded at fair value on a recurring basis were presented in the Balance Sheets as follows: October 26, 2025 January 26, 2025 (in thousands) Total (Level 1) (Level 2) (Level 3) Total (Level 1) (Level 2) (Level 3) Financial assets: Interest rate swap agreement $ $ $ $ $ 745 $ $ 745 $ Convertible debt investments 9,520 9,520 12,715 12,715 Total financial assets $ 9,520 $ $ $ 9,520 $ 13,460 $ $ 745 $ 12,715 Financial liabilities: Foreign currency forward contracts 164 164 Total financial liabilities $ 164 $ $ 164 $ $ $ $ $ During the nine months ended October 26, 2025, the Company had no transfers of financial assets between Level 1, Level 2 or Level 3. As of October 26, 2025 and January …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

"Goodwill and Intangible Assets Goodwill The following table summarizes goodwill by applicable operating segments: Balance as of October 26, 2025 Balance as of January 26, 2025 (in thousands) Goodwill Accumulated Impairment Losses Carrying Value Goodwill Accumulated Impairment Losses Carrying Value Signal Integrity $ 267,205 $ $ 267,205 $ 267,205 $ $ 267,205 Analog Mixed Signal and Wireless 83,101 83,101 83,101 83,101 IoT Systems and Connectivity 946,860 (805,102) 141,758 945,896 (763,111) 182,785 Total goodwill $ 1,297,166 $ (805,102) $ 492,064 $ 1,296,202 $ (763,111) $ 533,091 The following table summarizes the change in goodwill by applicable operating segments: (in thousands) Signal Integrity Analog Mixed Signal and Wireless IoT Systems and Connectivity Total Balance at January 26, 2025 $ 267,205 $ 83,101 $ 182,785 $ 533,091 Cumulative translation adjustment 964 964 Impairment (41,991) (41,991) Balance at October 26, 2025 $ 267,205 $ 83,101 $ 141,758 $ 492,064 During the second quarter of fiscal year 2026, as a result of reduced earnings forecasts of the IoT Connected Services reporting unit, the Company performed an interim impairment test using a quantitative assessment of the IoT Connected Services reporting unit, included in the IoT Systems and Connectivity operating segment. The interim impairment test resulted in $42.0 million of total pre-tax non-cash goodwill impairment charges for the IoT Connected Services reporting unit recorded in the Statements of Operations …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

"Income Taxes The Company's effective tax rate differs from the statutory federal income tax rate of 21% primarily due to the regional mix of income, changes in valuation allowance, research and development (""R&D"") tax credits and impact of global intangible low-taxed income (""GILTI""). The Tax Cuts and Jobs Act (""TCJA"") requires R&D costs incurred for tax years beginning after December 31, 2021 to be capitalized and amortized ratably over five or fifteen years for tax purposes, depending on where the research activities are conducted. The Company has elected to treat GILTI as a period cost and the additional capitalization of foreign R&D costs within GILTI increases the Company's provision for income taxes. On July 4, 2025, the One Big Beautiful Bill Act (""OBBBA"") was enacted into law in the U.S. The OBBBA modifies certain elements of the TCJA, including permanently changing the limitation on the deduction of business interest expense, as well as making permanent the immediate deduction for domestic R&D expenses. The remaining provisions of the OBBBA have multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. As the Company maintains a full valuation allowance on its U.S. deferred tax assets, the enactment of the legislation did not have a material impact on the Company's effective tax rate as of October 26, 2025. This legislation may be subject to further clarification and the issuance of interpretive …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

"Leases The Company has operating leases for real estate, vehicles, and office equipment, which are accounted for in accordance with ASC 842, ""Leases."" Real estate leases are used to secure office space for the Company's administrative, engineering, production support and manufacturing activities. The Company's leases have remaining lease terms of up to approximately seven years, some of which include options to extend the leases for up to five years, and some of which include options to terminate the leases within one year. The components of lease expense were as follows: Three Months Ended Nine Months Ended (in thousands) October 26, 2025 October 27, 2024 October 26, 2025 October 27, 2024 Operating lease cost $ 1,824 $ 1,801 $ 5,399 $ 5,497 Short-term lease cost 17 22 59 186 Sublease income (132) (136) (391) (432) Total lease cost $ 1,709 $ 1,687 $ 5,067 $ 5,251 Supplemental cash flow information related to leases was as follows: Nine Months Ended (in thousands) October 26, 2025 October 27, 2024 Cash paid for amounts included in the measurement of lease liabilities $ 5,891 $ 6,051 Right-of-use assets obtained in exchange for new operating lease liabilities $ 4,445 $ 2,603 October 26, 2025 Weighted-average remaining lease termoperating leases (in years) 4.4 Weighted-average discount rate on remaining lease paymentsoperating leases 6.9 % Supplemental balance sheet information related to leases was as follows: (in thousands) October 26, 2025 January 26, 2025 Operating lease …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

"Recent Accounting Pronouncements In September 2025, the Financial Accounting Standards Board (""FASB"") issued Accounting Standards Update (""ASU"") 2025-06, IntangiblesGoodwill and OtherInternal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software , which removes all references to prescriptive and sequential software development stages, or ""project stages"", throughout Subtopic 350-40, and instead specifies that an entity is required to start capitalizing software costs when management has authorized and committed to funding the software project and it is probable that the project will be completed and the software will be used to perform the function intended. The amendments are effective for the Company for annual reporting periods beginning after December 15, 2027, and interim periods within those annual reporting periods. Early adoption is permitted. ASU 2025-06 may be applied using the prospective, modified, or retrospective transition methods. The Company is currently evaluating the impact of this guidance on its consolidated financial statements. In July 2025, the FASB issued ASU 2025-05, Financial InstrumentsCredit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets , which allows public business entities a practical expedient. Under this practical expedient, an entity is allowed to assume that the current conditions it has applied in determining credit loss allowances for current …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

"Restructuring From time to time, the Company takes steps to realign the business to focus on high-growth areas, provide customer value and make the Company more efficient. As a result, the Company has re-aligned resources and infrastructure, which resulted in restructuring charges related to one-time employee termination benefits of $0.7 million and $3.4 million in the three and nine months ended October 26, 2025, compared to restructuring charges of $0.7 million and $4.5 million in the three and nine months ended October 27, 2024, which resulted from the realization of synergies of the Sierra Wireless Acquisition. Restructuring related liabilities are included in ""Accrued liabilities"" in the Balance Sheets and restructuring charges were included in ""Restructuring"" in the Statements of Operations. Restructuring activity is summarized as follows: (in thousands) One-time employee termination benefits Other restructuring Total Balance at January 26, 2025 $ 787 $ $ 787 Charges 3,425 21 3,446 Cash payments (3,813) (21) (3,834) Balance at October 26, 2025 $ 399 $ $ 399"

RestructuringAndRelatedActivitiesDisclosureTextBlock

"Segment Information The Company's Chief Executive Officer functions as the chief operating decision maker (""CODM""). The CODM makes operating decisions and assesses performance based on the net sales and gross profit of the Company's major product lines, which represent its operating segments, to allocate resources (including employees, property, and financial or capital resources) for each segment predominantly in the annual budget and forecasting process. The Company currently has three operating segmentsSignal Integrity (""SIP""), Analog Mixed Signal and Wireless (""AMW""), and IoT Systems and Connectivity (""ISC"")that represent three separate reportable segments. The SIP reportable segment consists of a portfolio of optical and copper data communications and video transport products used in a wide variety of infrastructure and industrial applications. The AMW reportable segment provides infrastructure, industrial and high-end customers with high-performance protection devices and a portfolio of specialized radio frequency products. The SIP and AMW reportable segments together constitute our Semiconductor Products business. The ISC reportable segment provides industrial customers with an IoT solutions portfolio that includes a wide range of modules, gateways, routers, and connected services. The Companys assets are commingled among the various operating segments and the CODM does not use asset information in making operating decisions or assessing performance. Therefore …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

Subsequent Event On October 31, 2025, the Company completed an acquisition of a force-sensing portfolio for immaterial cash consideration. The acquisition expands the Company's sensing portfolio with the addition of complementary force-sensing human-machine interface solutions and microelectromechanical systems force sensor technology.

SubsequentEventsTextBlock