MACOM Technology Solutions Holdings, Inc.

The grade, in three tenses

Headline 5.8 out of ten, 9 of 9 metrics filed: past 5.8 out of ten, present 5.7 out of ten, future 5.8 out of ten. The past asks what it actually did, the present what it is doing right now, the future what it is set up to do next.

The nine metrics

• Surviving crises (past): 7.6 out of ten. No warning events in its filings since 2017. 76th percentile among 99 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Track record (past): 5.2 out of ten. +9.4% a year over 10 filed years; profitable in 5 of 10. 52nd percentile among 93 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Shareholder treatment (past): 4.5 out of ten. Share count grew 1.3% a year. 16% of cash flow returned. Insiders: 191 sales, 0 purchases. 45th percentile among 67 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Financial health (present): 5.1 out of ten. ROE -4%: lost 4¢ per shareholder dollar. Leverage 37%: owes 37¢ per asset dollar. 51st percentile among 95 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Industry position (present): 5.7 out of ten. top 43% of 97 in its family; net margin -5.6%. 57th percentile among 97 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Leadership (present): 7.2 out of ten. top 28% of 66 in its family for leadership; chief executive since 2019. 72nd percentile among 66 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-09).
• Room to expand (future): 5.9 out of ten. top 41% of 94 in its family for room to expand. 59th percentile among 94 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Growth drivers (future): 7.6 out of ten. top 24% of 93 in its family for growth drivers. 76th percentile among 93 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Expectations vs reality (future): 2.8 out of ten. bottom 28% of 88 in its family for expectations against reality. 28th percentile among 88 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).

The filing record

Newest annual report: Form 10-K filed 2025-11-14 for the period ended 2025-10-03 (on EDGAR). Newest quarterly report: Form 10-Q filed 2026-08-06 for the period ended 2026-07-03 (on EDGAR). Newest results release: Form 8-K filed 2026-08-06 (on EDGAR). Newest filing: Form 4, 2026-10-05. Filings on record since 2010. Read from EDGAR 2026-10-12.

How the company works

Read from its Form 10-K filed 2025-11-14.

The people

Stephen Daly has been president and chief executive since May 2019, a director since March 2015 and chair of the board since November 2023. He came from Hittite Microwave, a maker of RF and microwave chips, where he was president from January 2004 and chief executive from December 2004, both until March 2013. John Kober has been chief financial officer since May 2019, after serving as corporate controller from August 2015; he came from CIRCOR International. Robert Dennehy, who ran operations from March 2011, became chief operating officer in November 2025, and Donghyun Thomas Hwang, who runs global sales, joined in January 2015 after holding sales roles at Hittite from January 2002 through August 2014. [1, 2, 3, 4, 5]

Peter Chung, chief executive of Summit Partners and a director since December 2010, was elected lead independent director in November 2023, when Daly became chair. Charles Bland, the company's chief executive from February 2011 to December 2012, has been a director again since June 2016, and Bryan Ingram joined the board in January 2026. Susan Ocampo retired from the board on August 31, 2025; she and her family trusts hold about 10.7% of the shares, the largest holding in the proxy statement's table. [6, 7, 8, 9, 10, 11]

At the end of fiscal 2025 MACOM employed about 2,000 people in 18 countries, about 800 of them in research and development; 75% work in North America, 13% in Asia Pacific and 12% in Europe. About 129 employees at certain European sites are covered by collective bargaining agreements, none in the United States or Asia, and voluntary attrition for the year was about 6%. [12, 13]

How it operates

MACOM designs and makes chips and components that handle radio frequency, microwave, millimeter wave and optical signals: amplifiers, switches and limiters, diodes, lasers, photodetectors, modulator drivers and whole modules, thousands of standard and custom parts in dozens of product lines. Its more than 6,000 end customers build them into larger systems such as wireless base stations, optical networks, data center networks, radar, medical systems and satellite networks. It serves three markets: industrial and defense, data center, and telecom. [14, 15, 16]

It sells through its own sales force and application engineers and through independent representatives, resellers and distributors; distributors took 32.3% of fiscal 2025 revenue, up from 24.0% two years earlier. No direct customer reached a tenth of revenue, and the top 25 direct customers together took 45.6%, but two resellers did: one took 12.4%, the other 11.2%. The top ten customers of all kinds accounted for 57%. Sales are mostly on purchase orders rather than long-term commitments, and much ships from stock soon after an order, which the company calls turns business. [17, 18, 19, 20, 21]

MACOM calls its model fab-lite. It runs its own wafer fabs in Lowell, Massachusetts, where it is headquartered, in Research Triangle Park, North Carolina, in Ann Arbor, Michigan, and in Limeil-Brévannes, France, making chips from gallium arsenide, gallium nitride and indium phosphide, compound semiconductors prized in defense for high power density and broadband performance, and it buys other processes and extra capacity from outside foundries. Assembly and test run in Lowell, Nashua, Ann Arbor, Hamilton, Morgan Hill, Limeil-Brévannes and Hsinchu, Taiwan, with contract manufacturers doing some packaging and whole products. Some processes rest on a single foundry that supplies all of its wafers in that process. [22, 23, 24, 25, 26, 27, 28]

By customer location, the United States brought in 422.9 million dollars, 43.7% of fiscal 2025 revenue, up 29.0%; China 274.6 million, 28.4%, up 54.5%; Asia Pacific 11.5%; and other countries 16.4%. The filing says customers in China and the Asia Pacific region typically make up a large portion of its sales outside the United States. [29, 30, 31]

Many of its products sell for five to ten years, some for more than 20. Revenue is recorded net of reserves for returns, price adjustments and stock rotations. Gross margin was 54.7% in fiscal 2025, up 70 basis points, and research and development took 25.3% of revenue. Its fiscal year has 52 or 53 weeks and ends near the end of September; fiscal 2025 had 53. [32, 33, 34, 35, 36]

The specifics

Its Lowell fab holds Trusted Foundry status from the US Department of Defense, a mark of process integrity and protection that matters because some defense customers require a domestic supply chain. Its engineers combine circuit design, process technology and packaging for high frequencies, high power, high data rates and rugged conditions. It holds 729 US and 497 foreign patents, with 166 US and 269 foreign applications pending, though it says its future depends more on its engineers and management than on patents. [37, 38, 39, 40, 41]

It names its rivals: Analog Devices, Broadcom, Credo, Marvell, MaxLinear, Microchip, NXP, Qorvo, Semtech, Skyworks and Sumitomo Electric Device Innovations, as well as its own customers' in-house design teams. Some competitors are also customers, and in some product categories it competes with chip makers whose foundries it uses. It expects more competition from high-volume makers using low-cost silicon processes. [42, 43, 44, 45]

Its heritage runs back more than 70 years to Microwave Associates, and the MACOM brand more than 30; the holding company was incorporated in Delaware in March 2009. Recent purchases: Linearizer Technology in March 2023, for amplifier modules and linearizers; the fab and assets of OMMIC in France in May 2023; the RF business of Wolfspeed, gallium nitride on silicon carbide products, in December 2023, whose North Carolina fab it took control of on July 25, 2025; and ENGIN-IC, a fabless designer of GaAs and GaN chips, in November 2024. It leases that North Carolina fab from a third party for twelve years, with an option to buy. [46, 47, 48, 49, 50, 51, 52, 53]

Export rules shape where it can sell. Most of its products fall under US export regulations and some need licenses for certain countries, while its military products are governed by the International Traffic in Arms Regulations in the United States and by the EU Common Military List and French Defense Code in France. It warns that China's push to depend less on foreign chip makers could raise costs there, foster Chinese competitors and cut demand for its products. [54, 55, 56]

What drives growth, line by line

Industrial & Defense. The largest market, 43.4% of fiscal 2025 revenue, down from 48.2% as the others grew faster. It grew 19.4%, by $68.1 million, which the filing credits to defense programs and a full year of acquired businesses. [57, 58]

Data Center. The fastest-growing market: 30.3% of revenue, up from 27.1%, after growing 48.0%, by $95.0 million, on sales of high-performance analog and coherent data center products for speeds from 100G up to 1.6T. These are the building blocks its customers assemble into optical transceivers for data centers. [57, 59, 60]

Telecom. 26.3% of revenue, up from 24.7%, after growing 41.4%, by $74.6 million, on products for 5G and satellite communications, broadband access and a full year of acquired businesses. [57, 61]

Revenue rose 32.6% to $967.3 million in a 53-week year, against 52 weeks the year before. Income from operations rose to 129.7 million dollars from 73.7 million, yet the year ended with a net loss of 54.2 million, because of a $193.1 million charge for exchanging most of its convertible notes due in 2026 for new notes due in 2029, shares and cash. [62, 63, 64, 65]

What comes next, in the company's own words: it expects data center revenue to be driven by the move to faster links up to 1.6T, telecom by 5G deployments and satellite networks, and industrial and defense by its broader portfolio, but it also expects macroeconomic and geopolitical conditions may weaken near-term demand in all three markets. [66, 67, 68, 69]

What the desk infers (inferred, not filed)

• More of MACOM's sales now pass through intermediaries: the share sold through distributors and resellers has grown while its top direct customers' share has shrunk, so its biggest end buyers are less and less visible in its own customer figures. Because: Distributors took 32.3% of revenue in fiscal 2025, up from 29.3% in 2024 and 24.0% in 2023. [18] Two resellers each took more than a tenth in fiscal 2025, 12.4% and 11.2%, the second for the first time. [19] The top 25 direct customers' share fell to 45.6% from 47.0% and 51.5%, and no direct customer reached a tenth. [19] Confidence 75 of 100. Wrong if: A year in which the share sold directly to MACOM's largest customers rises again while the distributor and reseller shares fall.
• Much of MACOM's data center growth most likely went to optical transceiver makers located in China, which assemble its chips into modules. Because: Sales to customers in China rose 54.5%, to 274.6 million dollars and 28.4% of revenue, the fastest rise of any region. [29] In the same year data center revenue rose 48.0%, by $95.0 million, the fastest of its three markets. [57, 59] Its data center products are the building blocks its customers assemble into optical transceivers. [60] Revenue by region follows where customers are located. [70] Confidence 50 of 100. Wrong if: A disclosure showing that most of the growth in China came from industrial, defense or telecom products rather than data center parts.
• MACOM chose not to spend its own capital buying the North Carolina fab site: it passed its right to buy to a third party and leased the site back, in line with the fab-lite model it says keeps capital needs down. Because: It calls its model fab-lite, outsourcing some manufacturing rather than investing heavily in capital-intensive facilities, which it says reduces its capital requirements. [24] It held a right of first offer on the fab property, exercised it and assigned it to a third party, which bought the property, and then leased it for twelve years with two ten-year renewal options. [53] It kept an option to buy the property during the lease. [71] Cash was not the constraint: interest income rose to $29.9 million in fiscal 2025 on larger short-term investments. [72] Confidence 65 of 100. Wrong if: A later filing showing MACOM bought the site under its option soon after the lease began, or explaining the leaseback by a shortage of cash.

Sources

1. MACOM Technology Solutions Holdings, Inc., Form DEF 14A filed 2026-01-16: “Mr. Daly has served as our President and Chief Executive Officer since May 2019, has served as a director since March 2015 and was appointed as the chair of the board of directors in November 2023. From January 2004 through March 2013, Mr. Daly served as the President of Hittite Microwave Corporation (“Hittite”), a provider of analog and mixed signal integrated circuits, modules and subsystems for commercial and military RF, microwave and millimeterwave applications.”
2. MACOM Technology Solutions Holdings, Inc., Form DEF 14A filed 2026-01-16: “Mr. Daly also served as Hittite’s Chief Executive Officer from December 2004 through March 2013.”
3. MACOM Technology Solutions Holdings, Inc., Form DEF 14A filed 2026-01-16: “John Kober has served as our Senior Vice President and Chief Financial Officer since May 2019. Prior to that, Mr. Kober served as our Vice President, Finance, Corporate Controller since August 2015. Prior to joining MACOM, Mr. Kober served as Vice President, Corporate Controller and Treasurer at CIRCOR International Inc.”
4. MACOM Technology Solutions Holdings, Inc., Form DEF 14A filed 2026-01-16: “Robert Dennehy has served as our Senior Vice President and Chief Operating Officer since November 2025, and prior to that had served as our Senior Vice President, Operations, since October 2013, and prior to that had served as our Vice President, Operations, since March 2011.”
5. MACOM Technology Solutions Holdings, Inc., Form DEF 14A filed 2026-01-16: “Donghyun Thomas Hwang has served as our Senior Vice President, Global Sales, since January 2015. From January 2002 through August 2014, Mr. Hwang held various sales positions at Hittite”
6. MACOM Technology Solutions Holdings, Inc., Form DEF 14A filed 2026-01-16: “Mr. Chung has served as a director since December 2010. Mr. Chung is a Managing Director and the Chief Executive Officer of Summit Partners, L.P., which he joined in August 1994.”
7. MACOM Technology Solutions Holdings, Inc., Form DEF 14A filed 2026-01-16: “In November 2023, Stephen Daly, our President and Chief Executive Officer, was elected to serve as the Chair of our board of directors and Peter Chung was elected to serve as our Lead Independent Director.”
8. MACOM Technology Solutions Holdings, Inc., Form DEF 14A filed 2026-01-16: “Mr. Bland has served as a director since June 2016, and previously served as a director from December 2010 to February 2016. Mr. Bland served as our Chief Executive Officer from February 2011 to December 2012”
9. MACOM Technology Solutions Holdings, Inc., Form DEF 14A filed 2026-01-16: “Mr. Ingram has served as a director since January 2026.”
10. MACOM Technology Solutions Holdings, Inc., Form DEF 14A filed 2026-01-16: “Mrs. Ocampo retired from our board of directors effective August 31, 2025.”
11. MACOM Technology Solutions Holdings, Inc., Form DEF 14A filed 2026-01-16: “Susan Ocampo and affiliates (1) 7,994,228 10.7 % % BlackRock, Inc. (2) 6,742,929 9.0”
12. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “As of October 3, 2025, we employed approximately 2,000 individuals worldwide, including approximately 800 in research and development (“R&D”). We have employees across 18 countries, with 75% in North America, 13% in Asia Pacific and 12% in Europe. None of our U.S.- or Asia-based employees are represented by a collective bargaining agreement; however, as of October 3, 2025, approximately 129 of our employees working in certain European locations were covered by collective bargaining agreements.”
13. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “During fiscal year 2025, our voluntary attrition rate was approximately 6%.”
14. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “We offer a broad portfolio of thousands of standard and custom devices, which include integrated circuits (“ICs”), multi-chip modules (MCM), diodes, amplifiers, switches and switch limiters, passive and active components and radio frequency (RF) and optical subsystems, which make up dozens of product lines that service over 6,000 end customers in our three primary markets. Our products are electronic components that our customers generally incorporate into larger electronic systems, such as wireless basestations, high-capacity optical networks, data center networks, radar, medical systems, satellite networks and test and measurement applications.”
15. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “We provide a complete product portfolio of Transimpedance Amplifier (TIAs), Modulator Drivers, Lasers and Photodetectors, to support single-mode, multi-mode and silicon photonics based transceivers and, in some cases, individual component designs are optimized for use together as a chipset.”
16. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “We design, develop and manufacture differentiated semiconductor products and solutions for the Industrial and Defense (“I&D”), Data Center and Telecommunications (“Telecom”) industries for customers who demand high performance, quality and reliability.”
17. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “We sell through our direct sales force, our application engineering staff, our global network of independent sales representatives, resellers and distributors.”
18. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “Sales to our distributors accounted for 32.3%, 29.3% and 24.0% of our revenue in fiscal years 2025, 2024 and 2023, respectively.”
19. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “One of our resellers accounted for 12.4% and 11.3% of our revenue in fiscal years 2025 and 2024, respectively, but did not exceed 10% in fiscal year 2023. A second reseller accounted for 11.2% of our revenue in fiscal year 2025 but did not exceed 10% in fiscal years 2024 and 2023. For fiscal years 2025, 2024 and 2023, no direct customer individually accounted for 10% or more of our revenue and sales to our top 25 direct customers accounted for an aggregate of 45.6%, 47.0% and 51.5% of our revenue, respectively.”
20. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “In fiscal years 2025, 2024 and 2023, our top ten customers represented an aggregate of 57%, 56% and 48% of total revenue, respectively.”
21. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “Our sales are made primarily on a purchase order basis, rather than pursuant to long-term contracts where the customer commits to buy any minimum amount of product over an extended period. We also frequently ship products from our inventory shortly after receipt of an order, which we refer to as “turns business.””
22. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “We operate semiconductor fabrication facilities at our Lowell, Massachusetts headquarters, and in our Research Triangle Park, (“RTP”), North Carolina, Ann Arbor, Michigan, and Limeil-Brévannes, France locations.”
23. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “We manufacture compound semiconductors including GaAs, GaN and InP.”
24. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “We believe our fab-lite model of outsourcing certain of our manufacturing activities rather than investing heavily in capital-intensive production facilities provides us with the flexibility to respond to new market opportunities, simplifies operations, provides access to a wider array of process technologies and additional manufacturing capacity and reduces our capital requirements.”
25. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “favoring higher performance semiconductor ICs based on GaAs and GaN technologies due to their high power density, improved power efficiency and broadband capability.”
26. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “We perform internal assembly and test functions at our Lowell, Massachusetts, Nashua, New Hampshire, Ann Arbor, Michigan, Hamilton, New Jersey, Morgan Hill, California, Limeil-Brévannes, France and Hsinchu, Taiwan locations.”
27. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “We also use third-party contract manufacturers for assembly, packaging and test functions, and in some cases for fully outsourced turnkey manufacturing of our products.”
28. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “For example, wafers procured from merchant foundries for a particular process technology are generally sourced through a single foundry on which we rely for all of our wafers in that process.”
29. The record on this page: revenue by line and by geography, as tagged in the annual report (the SEC's financial statement data sets)
30. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “Sales to customers located in China and the Asia Pacific region typically account for a large portion of our overall sales to customers located outside the U.S.”
31. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “For example, fiscal year 2025 sales to customers in China and the Asia Pacific region accounted for 28.4% and 11.5% of total fiscal year 2025 sales, respectively.”
32. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “Certain of our products have long life cycles ranging from five to ten years, with some of our products generating revenue for over 20 years while others may have shorter life cycles of less than five years.”
33. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “We establish revenue reserves, primarily for product returns, price adjustments and stock rotations for products sold.”
34. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “Gross margin of 54.7% in fiscal year 2025 increased 70 basis points, compared to fiscal year 2024.”
35. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “In fiscal year 2025, research and development expense increased by $62.3 million, or 34.2%, to $244.5 million, representing 25.3% of revenue, compared with $182.2 million, representing 25.0% of revenue, in fiscal year 2024.”
36. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “We have a 52 or 53-week fiscal year ending on the Friday closest to the last day of September. Fiscal year 2025 included 53 weeks and fiscal years 2024 and 2023 each consisted of 52 weeks.”
37. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “Our Lowell, Massachusetts fabrication facility has been accredited by the United States Department of Defense with “Trusted Foundry” status, a designation conferred on microelectronics vendors exhibiting the highest levels of process integrity and protection.”
38. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “We believe manufacturing products in our Lowell, Massachusetts Trusted Foundry offers us a competitive advantage in the I&D market because of certain customers’ requirements for a domestic supply chain.”
39. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “Our staff has decades of experience in solving complex design challenges in applications involving high frequency, high power, high data rates and environmentally rugged operating conditions.”
40. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “As of October 3, 2025, we had 729 U.S. and 497 foreign issued patents and 166 U.S. and 269 foreign pending patent applications covering elements of semiconductor devices, circuit design, manufacturing and wafer fabrication.”
41. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “Notwithstanding our active pursuit of patent protection when available, we believe that our future success will be determined by the innovation, technical expertise and management abilities of our engineers and management more than by patent ownership.”
42. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “We primarily compete with Analog Devices, Inc. (“ADI”), Broadcom Inc. (“Broadcom”), Credo Technology Group Holding Ltd. (“Credo”), Marvell Technology Inc. (“Marvell”), MaxLinear Inc. (“MaxLinear”), Microchip Technology Incorporated (“Microchip”), NXP Semiconductors N.V. (“NXP”), Qorvo, Inc. (“Qorvo”), Semtech Corporation (“Semtech”), Skyworks Solutions, Inc. (“Skyworks”) and Sumitomo Electric Device Innovations, Inc. (“Sumitomo”).”
43. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “We compete primarily with both our customers’ internal design resources and other suppliers of high-performance analog semiconductor solutions for use in wireless and wireline RF, microwave, millimeter wave and photonic applications, some of whom have greater financial resources and scale than us.”
44. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “Some of our competitors are also our customers, and in certain product categories we compete with semiconductor manufacturers from which we also obtain foundry services.”
45. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “We believe that in the future there will be increased competition from companies utilizing alternative technologies, including high-volume manufacturers using low-cost silicon process technology.”
46. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “The heritage of some of our business operations dates back over 70 years to the founding of Microwave Associates, Inc. and the MACOM brand dates back over 30 years.”
47. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “We were incorporated under the laws of the State of Delaware in March 2009.”
48. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “In March 2023, we completed the acquisition of Linearizer Technology, Inc. (“Linearizer”), a developer of modules and subsystems, including solid state amplifiers (“SSPAs”), microwave predistortion linearizers and microwave photonics based in Hamilton, New Jersey (the “Linearizer Acquisition”).”
49. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “In May 2023, we completed the acquisition of the key manufacturing facilities, capabilities, technologies and other assets and certain specified liabilities of OMMIC SAS, a semiconductor manufacturer based in Limeil-Brévannes, France with expertise in wafer fabrication, epitaxial growth and MMIC processing and design.”
50. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “In December 2023, we completed the acquisition of certain assets and specified liabilities of the RF business of Wolfspeed, Inc. (the “RF Business,”). The RF Business includes a portfolio of GaN on Silicon Carbide products used in high-performance RF and microwave applications. In connection with the RF Business acquisition, on July 25, 2025 we assumed control of a wafer fabrication facility in RTP, North Carolina.”
51. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “In November 2024, we completed the acquisition of ENGIN-IC, Inc. (“ENGIN-IC”), a fabless semiconductor company that designs advanced GaAs and GaN MMICs and integrated microwave assemblies located in Plano, Texas and San Diego, California.”
52. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “Prior to the RTP Fab Transfer, the Seller continued to operate the facility and supply wafer product and other fabrication services to us pursuant to various agreements entered into between the parties concurrently with the closing of the RF Business Acquisition.”
53. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “In connection with the RF Business Acquisition, the Seller granted MACOM a right of first offer to purchase the RTP Fab property. MACOM exercised this right and subsequently assigned it to a third-party, who completed the purchase of the property during the fiscal year ended October 3, 2025. Simultaneously, we entered into a 12-year lease agreement with the third-party to lease the RTP Fab property. This lease also includes two consecutive renewal options, each for a term of ten years.”
54. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “Most of our products are subject to the Export Administration Regulations, administered by the U.S. Department of Commerce, Bureau of Industry and Security (“BIS”). Certain of our products and technology require an export license from BIS before we can export them to specified countries.”
55. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “Additionally, some of our products are subject to the International Traffic in Arms Regulation (in the U.S.) and the EU Common Military List and French Defense Code (in France), which govern the export of military products and technology to foreign persons.”
56. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “indigenous innovation (including actions in furtherance of China’s stated policy of reducing its dependence on foreign semiconductor manufacturers) and intellectual property rights and enforcement and protection of those rights, could increase the cost of doing business in China, foster the emergence of additional Chinese-based competitors and/or decrease the demand for our products”
57. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “Industrial & Defense $ 419,785 $ 351,639 19.4 % Data Center 292,836 197,875 48.0 % Telecom 254,637 180,064 41.4 % Total $ 967,258 $ 729,578 32.6 % Industrial & Defense 43.4 % 48.2 % Data Center 30.3 % 27.1 % Telecom 26.3 % 24.7”
58. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “In fiscal year 2025, our I&D market revenue increased by $68.1 million, or 19.4%, compared to fiscal year 2024. The increase was primarily driven by revenue growth from defense programs and the full year contribution of acquisitions.”
59. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “In fiscal year 2025, our Data Center market revenue increased by $95.0 million, or 48.0%, compared to fiscal year 2024. The increase was primarily driven by an increase in sales of high-performance analog and coherent Data Center products primarily supporting high speed data rates from 100G up to 1.6T.”
60. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “our broad optoelectronic and photonic portfolio provide the building blocks to enable our customers to deliver next generation 800G, 1.6T and 3.2T optical transceivers that are required for today’s Data Center deployments.”
61. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “In fiscal year 2025, our Telecom market revenue increased by $74.6 million, or 41.4%, compared to fiscal year 2024. The increase was primarily driven by an increase in sales of products for 5G and SATCOM applications, broadband access and the full year contribution of acquisitions.”
62. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “Revenue. In fiscal year 2025, our revenue increased by $237.7 million, or 32.6%, to $967.3 million from $729.6 million for fiscal year 2024. Fiscal year 2025 included 53 weeks and fiscal year 2024 consisted of 52 weeks.”
63. The record on this page: the filed annual figures (EDGAR's company facts)
64. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “Under the terms of the Exchange and Subscription Agreements, the holders exchanged $288.8 million in aggregate principal amount of 2026 Convertible Notes held by them for $257.7 million of our 2029 Convertible Notes (defined below), 1,582,958 newly-issued shares of the Company’s common stock, par value $0.001 per share, issued at a fair value of $205.9 million, and $17.6 million in cash. These exchanges resulted in aggregate pre-tax debt extinguishment charges of $193.1 million.”
65. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “Following the closing of the Transactions, the aggregate principal balance of the 2026 Convertible Notes is $161.2 million and the terms of the 2021 Indenture are unchanged. The 2026 Convertible Notes will mature on March 15, 2026, unless earlier converted, redeemed or repurchased.”
66. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “We expect our revenue in the Data Center market to be driven by the adoption of higher speed processing technologies and the upgrade of data center architectures to 100G, 200G, 400G, 800G and 1.6T interconnects, which we expect will drive adoption of higher speed optical and photonic components.”
67. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “We expect our revenue in the Telecom market to be driven by 5G deployments, with continued upgrades and expansion of communications equipment, SATCOM networks and increasing adoption of our high-performance RF, millimeter wave, optical and photonic components.”
68. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “We expect our revenue in the I&D market to be driven by the expanding product portfolio that we offer which services applications such as test and measurement, space-related electronics, civil and military radar, industrial, automotive, scientific and medical applications, further supported by growth in applications for our multi-market catalog products.”
69. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “Certain areas of our end markets continue to be negatively impacted by macroeconomic and geopolitical conditions, which we expect may result in weaker near-term demand for our products across all three of our primary markets.”
70. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “For information regarding revenue by geographic regions, based upon customer locations, see Note 3 - Revenue.”
71. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “The lease between MACOM and the third-party is considered a failed sale-leaseback for accounting purposes as we have the option to purchase the property during the lease term.”
72. MACOM Technology Solutions Holdings, Inc., Form 10-K filed 2025-11-14: “In fiscal year 2025, interest income was $29.9 million, or 3.0% of our revenue, compared to $23.0 million of interest income, or 3.1% of our revenue, for fiscal year 2024. The change in fiscal year 2025 is primarily due to an increase in short-term investments and associated interest income.”

Where the revenue comes from

By geography: United States 44%, China 28%, Other Countries 16%, Asia Pacific 12%. As tagged in its annual report (Form 10-K, filed 2025-11-14).

Who runs it

Daly, Stephen G (President and CEO); Bland, Charles R (Chief Executive Officer); Kober, John (Senior VP and CFO); Dennehy, Robert (Senior VP and COO); Roth, Ambra R. (SVP, GC and Secretary); Hwang, Donghyun Thomas (SVP, Global Sales); Struble, Wayne Mack (SVP, Advanced Semiconductor); Shanmugaraj, Murugesan (director); Chung, Peter Y (director); Ribar, Geoffrey G (director); and 4 more. 14 officers and directors have filed their own trades in the last fifteen months, names and titles as filed with the SEC, through 2026-10-05.

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