Knowles Corporation

knowles.com

What Do They Do?

Makes high-performance capacitors, radio-frequency filters and audio components for industrial, medical and defense customers.

How Do They Make Money?

Customers buy specialized products and components; sales are counted when the goods ship under the contract terms.

revenue

Segment	Share	Revenue	How money arrives
Precision Devices Sold outright	55% FY2022: 51%		Sold outright
MedTech & Specialty Audio Sold outright	45% FY2022: 49%		Sold outright

Who Are Their Customers?

Knowles sells directly to equipment makers and their contract manufacturers and suppliers, and also through sales representatives and distributors. Customers operate in medical technology, defense, industrial and energy markets.

Customers above 10% of revenue, FY2025

of revenue from two customers (11%, 10%)

FY2024: 14% from one customer

Do Revenues Turn Into Profits?

Yes. It kept 7 cents of every revenue dollar as net income in FY2025.

Operating income, FY2025

12% of revenue

▲ +36% vs FY2024 ($51.8M, 9%)

Net income, FY2025

7% of revenue

▲ Now profitable vs FY2024 (−$237.8M, −43%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q3 FY2026, the three months to Sep 30, 2026

Revenue: ▲ +20%; vs $152.9M in Q3 FY2025
Net income: ▲ +24%; vs $17.4M in Q3 FY2025

Precision Devices share of revenue vs 57.7% in Q3 FY2025

Shrinking. Revenue fell 32% in 4 years, from $868.1M in FY2021 to $593.2M in FY2025, about 9% a year.

Consumer audio exit The older report included a consumer microphone business serving consumer devices; the latest report centers its strategy on Precision Devices and MedTech & Specialty Audio and notes that CMM was sold.

Revenue over time

Precision Devices MedTech & Specialty Audio Consumer MEMS Microphones

$1B$500M$0

FY2021 FY2022 FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with Kyocera AVX, Yageo, Vishay Intertechnology, and Sonion

Comments