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Silicon Labs Reports Third Quarter 2024 Results

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Wireless IoT leader delivers third-quarter results above the midpoint of its guidance  

AUSTIN, Texas, Nov. 4, 2024 /PRNewswire/ — Silicon Labs (NASDAQ: SLAB), a leader in secure, intelligent wireless technology for a more connected world, reported financial results for the third quarter, which ended September 28, 2024.

“Silicon Labs delivered solid sequential revenue growth as several key design wins began ramping in the quarter,” said Matt Johnson, President and Chief Executive Officer at Silicon Labs. “Looking ahead, progress on inventory destocking and demand recovery remains uneven across our end markets. Despite the uncertain market backdrop in the near-term, we remain well-positioned for long-term growth and market share expansion.”

Third Quarter Financial Highlights 

Revenue was $166 millionIndustrial & Commercial revenue for the quarter was $96 million, up 10% sequentiallyHome & Life revenue for the quarter was $70 million, up 22% sequentially

Results on a GAAP basis:

GAAP gross margin was 54.3%GAAP operating expenses were $120 millionGAAP operating loss was $30 millionGAAP diluted loss per share was $(0.88)

Results on a non-GAAP basis, excluding the impact of stock compensation, amortization of acquired intangible assets, and certain other items as set forth in the below GAAP to Non-GAAP reconciliation tables were as follows:

Non-GAAP gross margin was 54.5%Non-GAAP operating expenses were $99 millionNon-GAAP operating loss was $8 millionNon-GAAP diluted loss per share was $(0.13)

Business Highlights

Silicon Labs’ 5th annual IoT developers conference, Works With, expanded its footprint this year with in-person events in key global regions, including Austin, San Jose, Hyderabad, and Shanghai. This signature event series unites device manufacturers, wireless experts, engineers, and industry leaders, and attracted over 500 companies – among them Amazon, Google, Samsung, and Nvidia. Notably, over 60% of attendees were new to Silicon Labs, with one-third from top strategic customer segments. Silicon Labs will further extend Works With virtually on November 20 & 21, reaching thousands of potential and existing customers worldwide.Announced the general availability of its first Wi-Fi 6 solution: the SiWx917. The 917 family of SoC’s is designed from the ground-up for ultra-low-power applications using Wi-Fi 6, Bluetooth, Matter, and IP networking for secure cloud connectivity while offering up to 2 years battery life on a single AAA battery in select IoT applications.Announced support for Bluetooth Channel Sounding technology on its current xG24 platform, significantly enhancing the accuracy, interoperability, and security of distance measurement between two Bluetooth Low Energy (LE) devices in applications like building access controls, keyless entry, and asset tracking.Announced that Silicon Labs’ MG26 device for Bluetooth and 15.4 connectivity was awarded one of the IoT Evolution’s Product of the Year awards. This multiprotocol wireless SoC was announced earlier this year and is built to be future proof as the needs of the IoT grow, featuring the same Matrix Vector Processor for dedicated machine learning as the upcoming Series 3.

Business Outlook

The company expects fourth-quarter revenue to be between $161 to $171 million. The company also estimates the following results:

On a GAAP basis:

GAAP gross margin to be between 54% to 55%GAAP operating expenses of approximately $118 million to $122 millionGAAP diluted loss per share per share between $(0.75) to $(1.05)

On a non-GAAP basis, excluding the impact of stock compensation, amortization of acquired intangible assets, and certain other items as set forth in the reconciliation tables:

Non-GAAP gross margin to be between 54% to 55%Non-GAAP operating expenses of approximately $97 million to $99 millionNon-GAAP diluted loss per share between $(0.01) to $(0.21)

Earnings Webcast and Conference Call 

Silicon Labs will host an earnings conference call to discuss the quarterly results and answer questions at 3:30 pm CDT today. An audio webcast will be available on Silicon Labs’ website (www.silabs.com) under Investor Relations. In addition, the company will post an audio recording of the event at investor.silabs.com and make a replay available through December 4, 2024.

About Silicon Labs 

Silicon Labs (NASDAQ: SLAB) is a leader in secure, intelligent wireless technology for a more connected world. Our integrated hardware and software platform, intuitive development tools, thriving ecosystem, and robust support make us an ideal long-term partner in building advanced industrial, commercial, home and life applications. We make it easy for developers to solve complex wireless challenges throughout the product lifecycle and get to market quickly with innovative solutions that transform industries, grow economies, and improve lives. silabs.com

Forward-Looking Statements

This press release contains forward-looking statements based on Silicon Labs’ current expectations. The words “believe”, “estimate”, “expect”, “intend”, “anticipate”, “plan”, “project”, “will”, and similar phrases as they relate to Silicon Labs are intended to identify such forward-looking statements. These forward-looking statements reflect the current views and assumptions of Silicon Labs and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. Among the factors that could cause actual results to differ materially from those in the forward-looking statements are the following: the competitive and cyclical nature of the semiconductor industry; the challenging macroeconomic environment, including disruptions in the financial services industry; geographic concentration of manufacturers, assemblers, test service providers and customers in Asia that subjects Silicon Labs’ business and results of operations to risks of natural disasters, epidemics or pandemics, war and political unrest; risks that demand and the supply chain may be adversely affected by military conflict (including in the Middle East, and between Russia and Ukraine), terrorism, sanctions or other geopolitical events globally (including in the Middle East, and conflict between Taiwan and China); risks that Silicon Labs may not be able to maintain its historical growth; quarterly fluctuations in revenues and operating results; difficulties developing new products that achieve market acceptance; risks associated with international activities (including trade barriers, particularly with respect to China); intellectual property litigation risks; risks associated with acquisitions and divestitures; product liability risks; difficulties managing and/or obtaining sufficient supply from Silicon Labs’ distributors, manufacturers and subcontractors; dependence on a limited number of products; absence of long-term commitments from customers; inventory-related risks; difficulties managing international activities; risks that Silicon Labs may not be able to manage strains associated with its growth; credit risks associated with its accounts receivable; dependence on key personnel; stock price volatility; the impact of COVID-19 on the U.S. and global economy; debt-related risks; capital-raising risks; the timing and scope of share repurchases and/or dividends; average selling prices of products may decrease significantly and rapidly; information technology risks; cyber-attacks against Silicon Labs’ products and its networks; risks associated with any material weakness in our internal controls over financial reporting; and other factors that are detailed in the SEC filings of Silicon Laboratories Inc. Silicon Labs disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. References in this press release to Silicon Labs shall mean Silicon Laboratories Inc.

Note to editors: Silicon Laboratories, Silicon Labs, the “S” symbol, and the Silicon Labs logo are trademarks of Silicon Laboratories Inc. All other product names noted herein may be trademarks of their respective holders. 

Silicon Laboratories Inc.

Condensed Consolidated Statements of Operations 

(In thousands, except per share data) 

(Unaudited)

Three Months Ended

Nine Months Ended

September 28,
2024

September 30,
2023

September 28,
2024

September 30,
2023

Revenues

$           166,395

$           203,760

$           418,137

$           695,413

Cost of revenues

76,082

84,735

196,172

278,753

Gross profit

90,313

119,025

221,965

416,660

Operating expenses:

Research and development

83,228

79,042

249,787

254,340

Selling, general and administrative

36,793

27,766

109,041

113,363

Operating expenses

120,021

106,808

358,828

367,703

Operating income (loss)

(29,708)

12,217

(136,863)

48,957

Other income (expense):

Interest income and other, net

3,487

2,938

9,009

15,554

Interest expense

(278)

(1,359)

(1,050)

(4,611)

Income (loss) before income taxes

(26,499)

13,796

(128,904)

59,900

Provision for income taxes

2,005

3,388

38,283

23,479

Equity-method loss

—

(60)

—

(1,150)

Net income (loss)

$            (28,504)

$             10,348

$         (167,187)

$             35,271

Earnings (loss) per share:

Basic

$                (0.88)

$                  0.33

$                (5.21)

$                  1.11

Diluted

$                (0.88)

$                  0.32

$                (5.21)

$                  1.07

Weighted-average common shares outstanding:

Basic

32,309

31,796

32,114

31,789

Diluted

32,309

32,078

32,114

32,919

 

Non-GAAP Financial Measurements

In addition to the GAAP results provided throughout this document, Silicon Labs has provided non-GAAP financial measurements on a basis excluding non-cash and other charges and benefits. Details of these excluded items are presented in the tables below, which reconcile the GAAP results to non-GAAP financial measurements.

The non-GAAP financial measurements do not replace the presentation of Silicon Labs’ GAAP financial results. These measurements provide supplemental information to assist management and investors in analyzing Silicon Labs’ financial position and results of operations. Silicon Labs has chosen to provide this information to investors to enable them to perform meaningful comparisons of past, present and future operating results and as a means to emphasize the results of core on-going operations.

Unaudited Reconciliation of GAAP to Non-GAAP Financial Measures

(In thousands, except per share data)

Three Months Ended

September 28, 2024

Non-GAAP Income Statement Items

GAAP

Measure

GAAP

Percent of

Revenue

Stock

Compensation

Expense

Intangible Asset

Amortization

Non-GAAP

Measure

Non-GAAP

Percent of

Revenue

Revenues

$    166,395

Gross profit

90,313

54.3 %

$                369

$                —

$         90,682

54.5 %

Research and development

83,228

50.0 %

10,255

5,438

67,535

40.6 %

Selling, general and administrative

36,793

22.1 %

5,279

—

31,514

18.9 %

Operating expenses

120,021

72.1 %

15,534

5,438

99,049

59.5 %

Operating income (loss)

(29,708)

(17.9 %)

15,903

5,438

(8,367)

(5.0 %)

 

Three Months Ended

September 28, 2024

Non-GAAP Loss Per Share

GAAP

Measure

Stock

Compensation

Expense*

Intangible

Asset

Amortization*

Income

Tax

Adjustments

Non-

GAAP

Measure

Net income (loss)

$    (28,504)

$          15,903

$             5,438

$             3,036

$        (4,127)

Diluted shares outstanding

32,309

32,309

Diluted loss per share

$        (0.88)

$          (0.13)

*   Represents pre-tax amounts

 

Unaudited Forward-Looking Statements Regarding Business Outlook

(In millions, except per share data)

Three Months Ended
December 28, 2024

Business Outlook

GAAP

Measure

Non-GAAP

Adjustments**

Non-GAAP

Measure

Gross margin

54% to 55%

— %

54% to 55%

Operating expenses

$118 to $122

$(21) to $(23)

$97 to $99

Diluted loss per share

$(0.75) to $(1.05)

$0.74 to $0.84

$(0.01) to $(0.21)

**  Non-GAAP adjustments include the following estimates: stock compensation expense of $16.8 million, intangible asset amortization of $5.4 million, and the application of a long-term non-GAAP tax rate of 20%.

 

Silicon Laboratories Inc.

Condensed Consolidated Balance Sheets 

(In thousands, except per share data) 

(Unaudited)

September 28,
2024

December 30,
2023

Assets

Current assets:

   Cash and cash equivalents

$           303,082

$           227,504

   Short-term investments

66,596

211,720

   Accounts receivable, net

48,879

29,295

   Inventories

139,489

194,295

   Prepaid expenses and other current assets

56,090

75,117

Total current assets

614,136

737,931

Property and equipment, net

135,317

145,890

Goodwill

376,389

376,389

Other intangible assets, net

41,936

59,533

Other assets, net

81,464

123,313

Total assets

$        1,249,242

$        1,443,056

Liabilities and Stockholders’ Equity

Current liabilities:

   Accounts payable

$             44,648

$             57,498

   Revolving line of credit

—

45,000

   Deferred revenue and returns liability

8,478

2,117

   Other current liabilities

65,179

58,955

Total current liabilities

118,305

163,570

Other non-current liabilities

49,551

70,804

Total liabilities

167,856

234,374

Commitments and contingencies

Stockholders’ equity:

   Preferred stock – $0.0001 par value; 10,000 shares authorized; no shares issued

—

—

   Common stock – $0.0001 par value; 250,000 shares authorized; 32,343 and 31,897
   shares issued and outstanding at September 28, 2024 and December 30, 2023,
   respectively

3

3

   Additional paid-in capital

55,567

16,973

   Retained earnings

1,025,544

1,192,731

   Accumulated other comprehensive income (loss)

272

(1,025)

Total stockholders’ equity

1,081,386

1,208,682

Total liabilities and stockholders’ equity

$        1,249,242

$        1,443,056

 

Silicon Laboratories Inc.

Condensed Consolidated Statements of Cash Flows 

(In thousands) 

(Unaudited)

Nine Months Ended

September 28,
2024

September 30,
2023

Operating Activities

Net income (loss)

$         (167,187)

$             35,271

Adjustments to reconcile net income to net cash used in operating activities:

Depreciation of property and equipment

19,302

18,992

Amortization of other intangible assets

17,596

19,162

Amortization of debt issuance costs

—

960

Stock-based compensation expense

45,358

37,167

Equity-method loss

—

1,150

Deferred income taxes

29,100

(5,881)

Changes in operating assets and liabilities:

Accounts receivable

(19,585)

(30,706)

Inventories

54,724

(66,971)

Prepaid expenses and other assets

23,091

8,085

Accounts payable

(13,849)

(37,039)

Other current liabilities and income taxes

(5,004)

(39,155)

Deferred revenue and returns liability

6,361

3,286

Other non-current liabilities

(13,946)

6,794

Net cash used in operating activities

(24,039)

(48,885)

Investing Activities

Purchases of marketable securities

(28,363)

(91,493)

Sales of marketable securities

44,057

365,073

Maturities of marketable securities

131,008

171,766

Purchases of property and equipment

(7,785)

(18,533)

Proceeds from sale of equity investment

12,382

—

Purchases of other assets

—

(395)

Net cash provided by investing activities

151,299

426,418

Financing Activities

Proceeds from revolving line of credit

—

80,000

Payments on debt

(45,000)

(571,157)

Repurchases of common stock

—

(217,137)

Payment of taxes withheld for vested stock awards

(16,078)

(17,239)

Proceeds from the issuance of common stock

9,396

8,013

Net cash used in financing activities

(51,682)

(717,520)

Increase (decrease) in cash and cash equivalents

75,578

(339,987)

Cash and cash equivalents at beginning of period

227,504

499,915

Cash and cash equivalents at end of period

$           303,082

$           159,928

 

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Acer Announces Operating Income for Q3’24 at NT$1.60 Billion and for Year-to-September at NT$3.85 Billion with 36.1% Growth

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November 7, 2024

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TAIPEI, Nov. 7, 2024 /PRNewswire/ — Acer Inc. (TWSE: 2353) announced its financial results for the third quarter of 2024: consolidated revenues were NT$72.69 billion with 8.3% growth quarter-on-quarter (QoQ) and 7.8% growth year-on-year (YoY); gross profits reached NT$7.68 billion, up 6.9% QoQ and 5.2% YoY, with 10.6% margin; operating income was NT$1.60 billion, up 9.2% QoQ and 3.7% YoY, with 2.2% margin; net income[1] was NT$1.50 billion, up 7.2% QoQ; and earnings per share was NT$0.50. Businesses other than computers and displays contributed 26.9% of total group revenues, while public subsidiaries contributed 26.4% of operating income.

For year-to-September, consolidated revenues were NT$198.66 billion with 11.5% growth YoY; gross profits reached NT$21.05 billion, up 11.3% YoY with 10.6% margin; operating income was NT$3.85 billion, up 36.1% YoY with 1.9% margin; net income[1] was NT$4.11 billion, up 5.0% YoY; and earnings per share was NT$1.37. Businesses other than computers and displays contributed 28.0% of total group revenues, while public subsidiaries contributed 36.5% of operating income.

To strengthen the company’s risk management, realize sustainable development goals, and enhance governance, Acer’s Board of Directors approved the reorganization of the former Risk Management Committee to become the “Risk Management and Sustainable Development Committee,” with expanded tasks of overseeing cyber security and corporate sustainability.

[1] Net income is reported as profit-after-tax in Acer’s financial statements

About Acer

Founded in 1976, Acer is one of the world’s top ICT companies with a presence in more than 160 countries. As Acer evolves with the industry and changing lifestyles, it is focused on enabling a world where hardware, software and services will fuse with one another, creating ecosystems and opening up new possibilities for consumers and businesses alike. Acer’s 7,700 employees are dedicated to the research, design, marketing, sale, and support of products and solutions that break barriers between people and technology. Please visit www.acer.com for more information.

© 2024 Acer Inc. All rights reserved. Acer and the Acer logo are registered trademarks of Acer Inc. Other trademarks, registered trademarks, and/or service marks, indicated or otherwise, are the property of their respective owners. All offers subject to change without notice or obligation and may not be available through all sales channels. Prices listed are manufacturer suggested retail prices and may vary by location. Applicable sales tax extra.

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LPS Launches NeuroNode: Empowering Advanced AI for Enterprises with On-Premises LLM

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November 7, 2024

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The end-to-end LLM solution is designed to accelerate AI deployment by integrating out-of-the-box AI functionality into powerful Lenovo infrastructure.NeuroNode equips enterprises with security, autonomy, and scalability, rapidly unlocking the most value from their AI investments.

HONG KONG, Nov. 7, 2024 /PRNewswire/ — Lenovo PCCW Solutions (LPS) announces the launch of NeuroNode, a private Large Language Model (LLM) In-A-Box solution that offers a secure, quick and cost-effective AI solution for enterprises – providing an accessible option for businesses looking to benefit from LLMs. The launch of NeuroNode underscores LPS’ commitment to excellence in IT services, reinforced by being named the No.1 IT Services Provider in Hong Kong by IDC[1].

As the promise of AI-powered digital transformation continues to grow, CIOs are faced with the challenge of finding a secure pathway towards AI adoption. This has resulted in an increasingly cautious outlook towards AI investment, with Lenovo’s 2024 Global CIO Study finding 81% of CIOs leveraging third-party AI tools and proprietary AI tools expressing security as a top concern.

NeuroNode: Smarter and Safer AI at Your Fingertips

NeuroNode, named for its brain-like capabilities, embodies intelligence and agility. Built on Lenovo’s powerful infrastructure and offering a LLM ready out-of-the-box, the solution helps organizations embrace AI as quickly as possible. By enabling powerful AI capabilities on-premises, organizations can have total autonomy and control over their own data without the need to channel anything through the public cloud.

With the simplicity of a box, NeuroNode slots seamlessly into existing technology stacks with minimal infrastructure constraints and can be easily scaled up to meet growing workload demands. NeuroNode comes with native support for leading open source LLMs like Llama 3.1, GLM-4, Pixtral 12B etc. via Open AI compliant API. The simple and interactive interface enables users to input both natural language and images for AI processing with options for pre-built templates to serve unique business needs. Equipped with 4 powerful GPUs at its core, NeuroNode can respond to a typical query by generating a full-length A4 page of text in as little as 10 seconds (A10 GPU model, running Llama3.1 8B model).

NeuroNode empowers organizations to unlock transparent metrics and valuable insights to transform their operations with data privacy ensured. Its robust AI capabilities are designed to meet dynamic industry demands and can be utilized for numerous use cases such as automated content generation, knowledge management, compliance checking, customer service chatbots, and much more.

Dr. Ted Suen, President of LPS, said, “LPS remains committed to driving innovative AI solutions – collaborating closely with Lenovo to fast-track AI adoption for our clients. Our newly launched AI solution, NeuroNode, aims to lower the barriers to entry for enterprises looking for transparent AI value creation and reliable data security.”

As LPS unveils this new solution, the company continues to set the benchmark for IT excellence in Hong Kong. According to IDC Worldwide Semiannual Services Tracker (2024H1 release), LPS leads the Custom Application Development and Systems Integration segments in Hong Kong for 11 consecutive years, commanding 47% and 20.1% market share respectively, with over 9% YoY growth in both. LPS also stands atop the Managed Services segment with an 8.2% YoY revenue growth.

Roger Ling, Associate Vice President, Software, Services and Cloud, IDC Asia/Pacific, said, “As organizations navigate the complexities and opportunities presented by AI, partnering with an experienced and reputable IT service provider is becoming increasingly essential. Such collaborations enable businesses to leverage advanced technologies while ensuring security and operational efficiency, all while effectively addressing local nuances.”

NeuroNode provides a robust and scalable solution for any organization looking to leverage AI technology, with LPS offering further scalability and post-launch support to enhance models through prompt engineering, consulting, and more to help businesses maximize the potential of this solution.

For more information on NeuroNode, please visit here: https://www.lpstech.com/site/en/service/data-ai/neuronode-llm-in-a-box.html

About Lenovo PCCW Solutions (LPS)

LPS is a leading IT and technology solutions provider in the Asia Pacific. We partner with governments and enterprises to achieve digital transformation excellence, driving business growth through our market-leading solutions and industry best practices. As a proud member of Lenovo Group, we have unlocked new synergies with Lenovo’s global reach and technological capabilities. With our 4,000+ team of experts and a strong network of ecosystem partners, LPS is committed to providing end-to-end technology solutions and services, including systems integration, application development and operation, managed services, cloud services, IT outsourcing, and technical services.

To find out more about LPS, please visit www.lpstech.com.

[1] Ranking based on vendor revenue. Source: IDC Worldwide Semiannual Services Tracker (2024H1 release)

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MGI Tech Partners with the Human Cell Atlas to Further Advance Worldwide Human Cell Mapping Efforts

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November 7, 2024

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SHENZHEN, China, Nov. 7, 2024 /PRNewswire/ — MGI Tech Co., Ltd. (“MGI”), a company committed to building core tools and technologies that drive innovation in life science, today announced a commercial partnership with Human Cell Atlas (HCA) consortium to further accelerate the human cell mapping initiative. Aimed to facilitate the wider adoption of single cell sequencing and spatial transcriptomics technologies globally, MGI will expand access to its proprietary products within the HCA network by providing discounted rates to collaborating members.

“Cutting-edge single cell and spatial genomics are important driving forces for the HCA project,” said John Randell, HCA Chief Alliance Officer. “MGI’s involvement in the HCA discount program will enhance the efforts of our collaborative members and help fuel HCA’s progress and new scientific discoveries.”

Under this partnership, HCA members will enjoy more access to MGI’s cost-effective and scalable single cell and spatial omics solutions. In addition, MGI will also provide support to members in experimental design, assay execution, and bioinformatic support when applying MGI’s technologies to their research.

First introduced in 2019, MGI’s single cell series has become one of the company’s main product lines. Based on the core DNBSEQä technology, the series addresses the diverse demand of single cell research by offering users a comprehensive and user-friendly solution. The DNBelab C-TaiM 4 portable droplet generator, the latest addition to MGI’s single cell lineup, is meticulously crafted to facilitate high-throughput single-cell 3’RNA, 5’RNA& V(D)J,ATAC in any setting. This compact but robust device seamlessly integrates dual-bead cell capture, a microfluidic droplet generator, state-of-the-art computing modules, and other advanced technologies to enable intricate genomic analyses anytime anywhere.

Starting June 2024, MGI also became an official distributor of STOmics-related products, opening access to cutting-edge advancements in spatial omics for the scientific community. STOmics’ proprietary Stereo-seq technology has revolutionized spatial multi-omics research with its large field of view, nanoscale resolution, unbiased whole transcriptome capture, and multi-omics solutions. Its applications span diverse fields, including developmental biology, organ atlas, neuroscience, and digital pathology. To date, it has also contributed to over 60 publications in top-tier journals like Cell, Science, Nature, and Cell Research.

“We are proud to support HCA researchers worldwide in this important effort to uncover the intricate details of how the genes in our cells shape life,” said Duncan Yu, President at MGI. “Leveraging MGI’s highly sensitive and specific tools with comprehensive coverage, this partnership will allow the HCA community to push the boundaries of single cell genomics and spatial omics further, with broad implications for scientific discovery and disease research.”

The HCA is a global collaborative research consortium that is creating comprehensive reference maps of all human cells in the healthy body to drive major advances in healthcare and medicine worldwide. Founded in 2016, it has grown to more than 3,600 HCA members from over 100 countries around the world. To date, the global HCA community has profiled tens of millions of cells from nearly 10,000 individuals and produced more than 400 HCA scientific publications, delivering fundamental insights into human biology and diseases.

Over the years, MGI has been empowering scientists and researchers globally in frontier life science research with cutting-edge tools and facilitating advances and discoveries in the understanding of human cells. The company has been actively supporting HCA research as far back as 2018. Notably, in 2019, at a European Molecular Biology Organization (EMBO) workshop on Single Cell Biology, Dr. Sarah Teichmann, co-founder and principal leader of the HCA consortium, shared her systematic evaluation workflow for single-cell RNA sequencing using MGI’s platforms.

Earlier this year, MGI participated in the HCA Single-cell Omics Workshop in Bangkok to connect with members and promote its advanced technology. Following that, the company will be present at the HCA Asia 2024 Meeting, taking place in Hong Kong from December 3 to 4. MGI welcomes researchers and scientists worldwide to participate for exchanges of ideas and to explore partnership opportunities.

About MGI MGI Tech Co., Ltd. (or its subsidiaries, together referred to as MGI) is committed to building core tools and technologies that drive innovation in life science. Our focus lies in research & development, manufacturing, and sales of instruments, reagents, and related products in the field of life science and biotechnology. We provide real-time, multi-omics, and a full spectrum of digital equipment and systems for precision medicine, agriculture, healthcare, and various other industries.

Founded in 2016, MGI has grown into a leader in life science, serving customers across six continents and establishing research, manufacturing, training, and after-sales service facilities globally. MGI stands out as one of the few companies capable of independently developing and mass-producing clinical-grade gene sequencers with varying throughput capacities, ranging from Gb to Tb levels. With unparalleled expertise, cutting-edge products, and a commitment to global impact, MGI continues to shape the trajectory of life sciences into the future.

For more information, please visit the MGI website or connect with us on Twitter, LinkedIn or YouTube.

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