- National Instruments has reported fourth quarter 2021 revenue of $421 million and full year 2021 revenue of $1.47 billion.
- The US company estimates GAAP revenue of between $385 million and $415 million in the first quarter of 2022.
# Q4 2021 Highlights
– Revenue of $421 million, up 14 percent year over year
– Orders up 19 percent year over year
– Cash and cash equivalents of $211 million as of December 31, 2021
# FY 2021 Highlights
– Revenue of $1.47 billion, up 14 percent year over year
– GAAP gross margin of 71 percent
– Non-GAAP gross margin of 75 percent
– GAAP net income in 2021 was $89 million, down 38 percent year over year
– non-GAAP net income was $224 million, up 37 percent year over year.
GAAP : Generally Accepted Accounting Principles
“We believe 2021 is an inflection point for our business and a direct reflection of the strategic changes we’ve made over the last several years,” said Eric Starkloff, NI president and CEO.
National Instruments announced Q4 2021 revenue of $421 million, up 14 percent year over year and an all-time quarterly record.
In Q4 2021, the value of the company’s total orders were up 19 percent year over year, an all-time quarterly record. Geographic order growth for Q4 2021 compared with Q4 2020 was up 34 percent in the Americas, down 2 percent in APAC and up 20 percent in EMEA.
In Q4, GAAP gross margin was 71 percent and non-GAAP gross margin was 74 percent. Total Q4 GAAP operating expenses were $247 million, up 1 percent year over year. Total Q4 non-GAAP operating expenses were $214 million, up 9 percent year over year. GAAP operating margin was 12 percent in Q4, with GAAP operating income of $50 million. Non-GAAP operating margin was 23 percent in Q4, with non-GAAP operating income of $96 million, up 22 percent year over year.
GAAP net income for Q4 was $40 million and non-GAAP net income was $80 million.
The company’s non-GAAP results exclude, as applicable, the impact of purchase accounting fair value adjustments, stock-based compensation, amortization of acquisition-related intangibles, acquisition-related transaction and integration costs, taxes levied on the transfer of acquired intellectual property, foreign exchange loss on acquisitions, restructuring charges, tax reform charges, disposal gains on buildings and related charitable contributions, tax effects related to businesses held for sale, gain on sale of businesses, and capitalization and amortization of internally developed software costs.