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Synaptics’s 35+ Robotics OEM Push- Can Physical AI Turn Robotics Momentum Into Meaningful Revenue?

Synaptics reported its fiscal third quarter 2026 results with revenue of $294.2 million, a 10% increase year-over-year, primarily driven by a 31% rise in Core Internet of Things (IoT) products, notably wireless connectivity. The revenue mix comprised 30% Core IoT, 57% Enterprise and Automotive, and 13% Mobile Touch products. While the Enterprise and Automotive segment grew 9% year-over-year, the Mobile Touch segment declined by 16%, partly due to memory supply constraints impacting some smartphone customers, particularly in China. Despite this, Synaptics is gaining market share in Mobile Touch at a leading Korean original equipment manufacturer (OEM). Gross margins stood at 53.6%, slightly better than the midpoint of guidance, with operating expenses below expectations, resulting in a non-GAAP operating margin increase of 260 basis points to 18.1%. Non-GAAP net income was $44.1 million and earnings per share rose 21% year-over-year to $1.09.