Silicon Laboratories, Inc.

Hello, my name is Betsy and I will be your conference operator today. Welcome to Silicon Labs first quarter fiscal 2023 earnings call. All participants will be in a listen only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on a touch tone phone. To withdraw your question, please press star, then two. Please note, this event is being recorded. I would now like to turn the conference over to Giovanni Pacelli, Silicon Labs Senior Director of Finance. Giovanni, please go ahead.

Thank you, Betsy, and good morning, everyone. We are recording this meeting, and a replay will be available for four weeks on the investor relations section of our website at silabs.com forward slash investors. Our earnings press release and the accompanying financial tables are also available on our website. Joining me today are Silicon Labs President and Chief Executive Officer Matt Johnson and Chief Financial Officer John Hollister. They will discuss our first quarter financial performance and review recent business activities. We'll take questions after our prepared comments, and our remarks today will include forward-looking statements subject to risks and uncertainties. We base these forward-looking statements on information available to us as of the date of this conference call and assume no obligation to update these statements in the future. We encourage you to review our SEC filings, which identify important risk factors that could cause actual results to differ materially from those contained in any forward-looking statements. Additionally, during our call today, we will refer to certain non-GAAP financial information. A reconciliation of our GAAP to non-GAAP results is included in the company's earnings press release and on the investor relations section of the Silicon Labs website. I'll now turn the call over to Silicon Labs Chief Executive Officer, Matt Johnson.

Matt. Thanks, Giovanni, and good morning, everyone. Last quarter, we discussed the success of our strategy to focus on the IoT market, the strength of our position to scale and lead the industry, our accelerating design wins, and significant market share gains. Our team continues to execute well. We posted solid results in the first quarter, driven in part by the performance of our Bluetooth portfolio, which was up 65% year over year and 11% sequentially. We also drove a record level of design wins in the quarter, up 36% over the design win level from Q1 of last year. As anticipated, weaker global market conditions are contributing to near-term softness in our home and life business. Our industrial and commercial end markets are not immune to market weakness, but are demonstrating much more resilience. Despite the short-term volatility, we remain confident in our ability to outperform the market, underpinned by the breadth of our product portfolio, the depth of our wireless expertise, and our singular focus on wireless connectivity for the Internet of Things. I'll now hand it over to John to cover the financials. John?