ON Semiconductor Corporation reported third‑quarter 2025 earnings that exceeded analyst expectations, with revenue of $1.55 billion and non‑GAAP earnings per share of $0.63.
Revenue rose 12% year‑over‑year to $1.55 billion, driven by higher sales of silicon carbide and advanced analog products. Non‑GAAP gross margin fell to 38.0% from 45.5% in the same quarter last year, while operating margin contracted to 19.2% from 28.2%.
Segment revenue was $737.6 million for Power Solutions Group, $583.3 million for Analog & Mixed‑Signal Group, and $230.0 million for Intelligent Sensing Group, reflecting sequential growth of 6%, 5%, and 7% respectively.
Compared with Q3 2024, revenue declined 12% to $1.55 billion from $1.7619 billion, and EPS fell from $0.99 to $0.63. From Q2 2025, revenue grew 5.8% to $1.55 billion from $1.4687 billion, and EPS increased from $0.53 to $0.63.
The company guided Q4 2025 revenue to $1.48 billion–$1.58 billion, with a midpoint of $1.53 billion, and non‑GAAP EPS to $0.57–$0.67. Inventory days outstanding fell to 193 from 207, and operating cash flow reached $418.7 million, with free cash flow of $372.4 million.
ON Semiconductor completed the acquisition of Vcore Power Technologies from Aura Semiconductor in September 2025, expanding its power‑management portfolio for AI data‑center applications. Management highlighted continued demand in automotive, industrial, and AI data‑center markets as key drivers of future growth.
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