MCHPP — what changed in the latest 10-K

Text added vs the prior filing · source: 10-K · 2026-05-21

• also offer specialized mixed-signal microcontrollers for automotive, industrial, computing, communications, power supplies, motor control, human machine interface, security, wired connectivity and wireless connectivity applications.

• Microchip is an industry leader in product families including storage controllers, memory controllers and switches designed to address high-performance compute, storage, and connectivity requirements in AI data center and enterprise infrastructure. Our storage controller portfolio includes Microchip…

• We leverage our circuit design, process technologies, development tools, applications knowledge, software libraries, and manufacturing experiences to enable our customers to implement various embedded control functions in their end systems with our mixed-signal microcontrollers.

• Our analog product line consists of several families including power management, linear, mixed-signal, high voltage, thermal management, discrete diodes and MOSFETs, RF, gate drivers, safety, security, timing, application specific standard products (ASSPs), USB, ethernet, wireless and other interfac…

• Our portfolio of mid-range and low-end FPGAs is recognized for its low power consumption, defense grade security features, and robust reliability across mission-critical environments. We market and sell our FPGA products and related solutions into a broad range of applications within the industrial,…

Text removed vs the prior filing · source: 10-K · 2025-05-23

• We leverage our circuit design, process technologies, development tools, applications knowledge, and manufacturing experiences to enable our customers to implement various embedded control functions in their end systems with our mixed-signal microcontrollers.

• Our analog product line consists of several families including power management, linear, mixed-signal, high voltage, thermal management, discrete diodes and MOSFETS, RF, drivers, safety, security, timing, USB, ethernet, wireless and other interface products.

• Our portfolio of non-volatile FPGAs are recognized for their low power, high security and extended reliability. We market and sell our FPGA products and related solutions into a broad range of applications within the industrial, automotive, defense, aviation, space and communications markets.

• Our manufacturing operations include wafer fabrication, wafer probe, assembly and test. The ownership of a substantial portion of our manufacturing resources is an important component of our business strategy, enabling us to maintain a high level of manufacturing control, resulting in us being one o…

• statistical process control, designed experiments and wafer level monitoring), we have been able to achieve and maintain high production yields. Direct control over manufacturing resources allows us to shorten our design and production cycles. This control also allows us to capture a portion of the …

Text added vs the prior filing · source: 10-K · 2026-05-21

• •impact of supplier disruptions affecting the availability and cost of raw materials, components, or equipment;

• •impact of restrictions, export controls, or other limitations on critical materials sourced from concentrated suppliers reducing sales;

• •impact of geopolitical instability in the Middle East on the availability of critical semiconductor materials, fuel costs, and our ability to meet customer demand;

• •dependence on orders received and shipped in the same quarter, limited visibility to product shipments other than those shipped through our certain LTSAs;

• •ability to introduce new products on a timely basis, including in response to market changes driven by AI and other factors, or by changing our product design and manufacturing to more advanced technology nodes;

Text removed vs the prior filing · source: 10-K · 2025-05-23

• •impact of price increases, increased tariffs, raw material availability or other factors affecting our suppliers;

• •dependence on orders received and shipped in the same quarter, limited visibility to product shipments other than those shipped through our LTSAs;

• •risks related to compliance with laws and regulations regarding privacy, data protection, cybersecurity, and handling of government-regulated data (e.g., controlled unclassified information, classified data, export-controlled data);

• •the level of order cancellations or push-outs due to uncertain economic conditions or other factors;

• •our ability to continue to increase our factory capacity as needed to respond to changes in customer demand;

Text added vs the prior filing · source: 10-K · 2026-05-21

• •Our expectations regarding our inventory levels and revenue growth;

• •Our ability to effectively utilize our facilities at appropriate capacity levels or obtain sufficient capacity from our manufacturing, assembly and test sub-contractors;

• •The benefits and risks of the use of artificial intelligence by us, our partners and customers, or malicious third parties and its impact on our products, our labor and technological needs, and regulatory or intellectual property compliance;

• •The impact on our business from the global minimum tax (GMT) and the Side-by-Side system introduced by the Organisation for Economic Co-operation and Development;

• During fiscal 2025, our overall business was weak as we navigated through a large inventory correction due to our customers holding excess levels of inventory. In March 2025, we implemented a business recovery plan which included restructuring actions to reduce our costs, resize our manufacturing op…

Text removed vs the prior filing · source: 10-K · 2025-05-23

• •Our ability to effectively utilize our facilities at appropriate capacity levels;

• •Our expectation that the global minimum tax (GMT) will not have a material impact on our fiscal 2026 results;

• •Our expectations regarding the amount, timing, and future applications for investment tax credits under the CHIPS Act;

• During fiscal 2024, many of our customers felt the adverse effects of slowing economic activity, increasing business uncertainty, persistent inflation and higher interest rates and we received requests to push out or cancel backlog resulting from customer actions to reduce inventory levels. Although…

• There continues to be uncertainty regarding overall macroeconomic conditions, including increased geopolitical tensions, risk of a recession, and the effects of potential trade policies, including tariffs. Long established global trade relationships are potentially changing in fundamental ways that …