Silicon Motion Reports 105% Year-Over-Year Sales Growth in Q1 2026
Silicon Motion Technology Corporation announced first quarter 2026 net sales of $342.1 million, a 23% increase from the previous quarter and a 105% increase year-over-year. Growth was driven by embedded eMMC & UFS controllers and Ferri and boot drive solutions.
TAIPEI, Taiwan and MILPITAS, Calif. – Silicon Motion Technology Corporation (NasdaqGS: SIMO) reported first quarter 2026 financial results, with net sales reaching $342.1 million. This represents a 23% increase from the fourth quarter of 2025 and a significant 105% increase compared to the first quarter of 2025.
The company's performance was largely propelled by its embedded eMMC & UFS controller business, which saw a sequential increase of over 30% and a year-over-year jump of more than 140%. Additionally, sales of Ferri and boot drive solutions experienced substantial growth, attributed to new product ramps for automotive applications and scaling enterprise boot drive solutions for AI infrastructure customers.
Sales of SSD controllers experienced typical seasonal declines quarter-over-quarter but grew approximately 45% year-over-year. This growth is partly due to the introduction of new PCIe 5 controllers, which command higher average selling prices compared to previous generations. The company also anticipates its MonTitan controller to enter volume commercial production in the current quarter.
"Our first quarter results exceeded our revenue, gross margin and operating margin expectations," stated Wallace Kou, President & CEO of Silicon Motion. "Our embedded eMMC & UFS controller business was up over 30% sequentially and over 140% year-over-year, driven primarily by recent market share gains." Kou added that investments in market share gains and expansion into new enterprise and AI opportunities are beginning to show strong results.
Net income on a GAAP basis was $66.8 million, or $1.97 per diluted ADS, an increase from $47.7 million, or $1.41 per diluted ADS, in the fourth quarter of 2025. Non-GAAP net income was $53.8 million, or $1.58 per diluted ADS, up from $42.7 million, or $1.26 per diluted ADS, in the prior quarter.