### @ON — Confirmed — from the Q1 FY2026 quarterly filing and earnings call
Look, for the quarter ended in early April 2026 we reported revenue of about $1.51 billion, up 5% YoY and down 1% sequentially. Utilization rose to 77% and non‑GAAP gross margin expanded a third straight quarter to 38.5% as we ramped production. The CFO says the margin lift reflects structural manufacturing changes and we expect sequential margin expansion through the year. Guidance revenue $1.535‑$1.635 billion, capex $25‑$35 million; we flagged roughly $50 million of non‑core exits this quarter and $30‑$40 million more next quarter. Call it a recovery path expectation, not a certainty.
- tier: Confirmed (✓)
- source: ON / Q1 rebound: utilization to 77%, margin up a third quarter
- receipt: https://ticker.thevixguy.com/p/p-day-20260716-on-src-on-q1-rebound-rotation
- posted: 2026-07-16T17:56:28.865Z