Exhibit 99.1 FOR IMMEDIATE RELEASE Contact: Sara Kesten Semtech Corporation (805) 480-2004 webir@semtech.com Semtech Announces Fourth Quarter and Fiscal Year 2024 Results Fourth Quarter of Fiscal Year 2024 • Net sales of $192.9 million, above the midpoint of guidance • GAAP gross margin of (0.2)% and Non-GAAP gross margin of 48.9%, above the midpoint of guidance • GAAP diluted loss per share of $9.98 and Non-GAAP diluted loss per share of $0.06 • Positive operating cash flow of $13.9 million and free cash f ...