Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €30.00, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 23x in the Electronic industry in Germany. Total returns to shareholders of 86% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €17.52 per share. Announcement • Jul 02
Knowles Corporation to Report Q2, 2026 Results on Jul 23, 2026 Knowles Corporation announced that they will report Q2, 2026 results After-Market on Jul 23, 2026 Announcement • Jun 17
Knowles Expands Portfolio of High-Performance Capacitors And Demonstrates High-Performance Capacitors At Power And Plasma Science Events Knowles continued to expand its portfolio of high-performance capacitors, including film and ceramic high-energy pulse discharge capacitors, and the company's capabilities are aligned with these requirements, supporting customers worldwide in a broad range of pulse power applications. In pulse power applications, engineers are designing around defined energy discharges, where both the amount of energy and delivery timing must be tightly controlled. Capacitors largely define the precision of energy storage, the reliability of its release, and the consistency of system performance over time. Knowles designs capacitors to meet these demands across a wide range of energy levels and operating conditions. Low energy pulses are used in neuromodulation therapies for pain management. Higher energy pulses drive industrial and scientific systems such as CO2 lasers used in semiconductor manufacturing, downhole perforation systems in energy exploration, and life saving medical equipment including defibrillators and advanced imaging systems. At the extreme end are ultra high energy pulses used in energy research. Knowles is investing in advanced testing, tighter process controls, and application specific design expertise to deliver custom pulse power solutions at scale. Pulse power turns stored energy into real world outcomes. Knowles designs and manufactures the capacitors that make that delivery precise, repeatable, and scalable. Knowles is demonstrating its high-performance capacitors at upcoming power and plasma science events, including the International Conference on Plasma Science June 22-26 and the IEEE International Power Modulator and High Voltage Conference July 12-16. Announcement • Apr 24
Knowles Corporation Provides Earnings Outlook for the Second Quarter Ending June 30, 2026 Knowles Corporation provided earnings outlook for the second quarter ending June 30, 2026. For the period, the company expects revenues from continuing operations of $152 million to $162 million, Diluted earnings per share from continuing operations of $0.18 per share to $0.22 per share, results from continuing operations are expected to include approximately $0.06 per share in stock-based compensation expense and $0.04 per share in intangibles amortization expense. Announcement • Mar 31
Knowles Corporation to Report Q1, 2026 Results on Apr 23, 2026 Knowles Corporation announced that they will report Q1, 2026 results After-Market on Apr 23, 2026 Announcement • Mar 12
Knowles Corporation, Annual General Meeting, Apr 28, 2026 Knowles Corporation, Annual General Meeting, Apr 28, 2026. Location: the langham chicago hotel, 330 n. wabash ave, il 60611, chicago United States Announcement • Feb 06
Knowles Corporation Provides Earnings Guidance for the First Quarter Ending March 31, 2026 Knowles Corporation provided earnings guidance for the first quarter ending March 31, 2026. For the period, the company expects Revenues from continuing operations to be in the range of $143 million to $153 million. Diluted earnings per share from continuing operations is expected to be in the range $0.09 to $0.13. Announcement • Jan 06
Knowles Corporation to Report Q4, 2025 Results on Feb 05, 2026 Knowles Corporation announced that they will report Q4, 2025 results After-Market on Feb 05, 2026 Announcement • Oct 24
Knowles Corporation Provides Earnings Guidance for the Fourth Quarter Ending December 31, 2025 Knowles Corporation provided earnings guidance for the fourth quarter ending December 31, 2025. For the quarter, the company expects Revenues from continuing operations of $151 million to $161 million. Diluted earnings per share from continuing operations of $0.21 to $0.25. Announcement • Sep 30
Knowles Corporation to Report Q3, 2025 Results on Oct 23, 2025 Knowles Corporation announced that they will report Q3, 2025 results After-Market on Oct 23, 2025 Announcement • Jul 25
Knowles Corporation Announces Earnings Guidance for Quarter Ending September 30, 2025 Knowles Corporation announced earnings guidance for quarter ending September 30, 2025. For the quarter the company expects Revenues from continuing operations of $144 million to $154 million. Diluted earnings per share from continuing operations of $0.18 to $0.22. Announcement • Jul 15
Knowles Corporation Launches High-Performance Inductors for Mission-Critical RF Applications Knowles Corporation announced the introduction of its High-Q Ceramic Core Inductors, designed to optimize RF efficiency and signal integrity across mission-critical applications in medical, defense, and industrial sectors. Engineering for reduced signal loss, these new inductors deliver high energy efficiency and consistent inductance across a broad frequency range. This performance enables engineers to maintain signal integrity and elevate overall system efficiency in high-frequency designs. Key Features of Knowles' High-Performance Inductors: High Q Factor: Reduced signal loss enhances RF efficiency, ensuring clearer signals and minimized distortion; High SRF: High self-resonance frequency ensuring excellent performance at higher frequency ranges; High Reliability: Designed to endure rigorous operational environments, making them ideal for mission-critical applications; Versatile Package Options: Ability to offer multiple form factors to accommodate various design needs and space constraints. In markets like medical imaging and defense where system performance and reliability are non-negotiable, these characteristics drive better outcomes including sharper diagnostic images, clearer signals, and more reliable systems. Announcement • Jul 03
Knowles Corporation to Report Q2, 2025 Results on Jul 24, 2025 Knowles Corporation announced that they will report Q2, 2025 results After-Market on Jul 24, 2025 Announcement • Jun 30
Knowles Corporation(NYSE:KN) dropped from Russell 2000 Dynamic Index Knowles Corporation(NYSE:KN) dropped from Russell 2000 Dynamic Index Announcement • Apr 25
Knowles Corporation Provides Earnings Outlook for the Second Quarter Ending June 30, 2025 Knowles Corporation provided earnings outlook for the second quarter ending June 30, 2025. For the period, the company expects revenues from continuing operations of $135 million to $145 million,Diluted earnings per share from continuing operations of $0.11 to $0.15 . It represents sequential and year over year growth of 6% and 4%, respectively. Announcement • Apr 03
Knowles Corporation to Report Q1, 2025 Results on Apr 24, 2025 Knowles Corporation announced that they will report Q1, 2025 results After-Market on Apr 24, 2025 Announcement • Mar 17
Knowles Corporation, Annual General Meeting, Apr 29, 2025 Knowles Corporation, Annual General Meeting, Apr 29, 2025. Location: 330 n. wabash avenue, illinois 60611, chicago United States Announcement • Feb 15
Knowles Corporation Provides Earnings Guidance for the Quarter Ending March 31, 2025 Knowles Corporation provided earnings guidance for the quarter ending March 31, 2025 . For the quarter, the company expects Revenues from continuing operations to be $124 to $134 million. Diluted earnings per share from continuing operations to be $0.06 to $0.10. Announcement • Jan 20
Knowles Corporation to Report Q4, 2024 Results on Feb 13, 2025 Knowles Corporation announced that they will report Q4, 2024 results After-Market on Feb 13, 2025 Announcement • Jan 01
Syntiant Corp. completed the acquisition of Consumer MEMS Microphones Business of Knowles Corporation (NYSE:KN). Syntiant Corp. entered into a definitive agreement to acquire Consumer MEMS Microphones Business of Knowles Corporation (NYSE:KN) for $150 million on September 18, 2024. The purchase price consists of (i) a payment of approximately $70,000,000 in cash, subject to customary working capital and inventory adjustments, and (ii) $80,000,000 in Buyer Series D-2 preferred stock, par value $0.0001, to be issued upon the Closing. The Company will also share in certain separation costs pursuant to a credit for up to $13.5 million which Buyer may apply to specified separation costs post-Closing. Syntiant has received a customary debt financing commitment letter in connection with the Transaction and expects to raise additional funds through an equity financing. CMM business generated revenues of $256 million in FY 2023. The financing is being led by Structural Capital and Boardman Bay Capital Management. The Company has committed to provide, under certain circumstances, up to $15,000,000 in financing in connection with Buyer's obligation to have $40,000,000 on the balance sheet, which financing would be junior to Buyer's debt financing. The closing of the Transaction is subject to certain regulatory approvals, third party consents, and other customary closing conditions. The closing of the Transaction is expected to occur in the fourth quarter of 2024. Jefferies LLC served as exclusive financial advisor to Knowles and Paul L. Choi and Jonathan A. Blackburn of Sidley Austin LLP served as legal counsel to Knowles Corporation (NYSE:KN). Benjamin A. Potter and Nima J. Mohavedi of Latham & Watkins LLP acted as legal advisor to Syntiant Corp. Needham & Company, LLC acted as financial advisor to Syntiant Corp.
Syntiant Corp. completed the acquisition of Consumer MEMS Microphones Business of Knowles Corporation (NYSE:KN) on December 30, 2024. The acquisition was financed through a collaborative effort led by Khazanah Nasional Berhad and Boardman Bay Capital Management, which provided equity funding, and Structural Capital, which arranged debt financing. Announcement • Dec 10
Knowles Corporation Appoints Laura Angelini to Board of Directors Knowles Corporation announced the appointment of Laura Angelini as an independent director to the Company’s Board of Directors. Ms. Angelini has 30 years of experience in the medical device and healthcare industry. She most recently served as General Manager of the Renal Care Global Business Unit at Baxter International Inc., from 2016 to 2021. Prior to that, Ms. Angelini served in various roles at Johnson & Johnson from 1991 to 2016, including as President of North America and Global Franchise Development of Vision Care from 2013 to 2016, Vice-President of Global Strategic Marketing of Ethicon from 2012 to 2013, and Vice President of Medical Devices & Diagnostics of Eastern Europe from 2010 to 2011. Ms. Angelini currently serves as a member of the board of directors of DCC plc, and Identiv Inc. and as a member of the board of trustees of Jacksonville University. Ms. Angelini will also serve as a member of the Compensation Committee of Knowles’ Board of Directors. Recent Insider Transactions • Nov 07
Senior VP recently sold €340k worth of stock On the 4th of November, Robert Perna sold around 21k shares on-market at roughly €16.13 per share. This transaction amounted to 43% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €960k more than they bought in the last 12 months. New Risk • Oct 27
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 21% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Significant insider selling over the past 3 months (€303k sold). Reported Earnings • Oct 25
Third quarter 2024 earnings released: EPS: US$0.10 (vs US$0.18 in 3Q 2023) Third quarter 2024 results: EPS: US$0.10 (down from US$0.18 in 3Q 2023). Revenue: US$142.5m (down 19% from 3Q 2023). Net income: US$9.20m (down 45% from 3Q 2023). Profit margin: 6.5% (down from 9.5% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 13% p.a. on average during the next 3 years, while revenues in the Electronic industry in Germany are expected to grow by 10%. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Announcement • Oct 25
Knowles Corporation Provides Earnings Guidance for the Fourth Quarter of 2024 Knowles Corporation provided earnings guidance for the fourth quarter of 2024. For the quarter, the company expects revenues from continuing operations of $141 million to $151 million. Diluted earnings per share from continuing operations of $0.12 to $0.16. Recent Insider Transactions • Oct 02
Independent Director recently sold €195k worth of stock On the 23rd of September, Cheryl Shavers sold around 13k shares on-market at roughly €15.53 per share. This transaction amounted to 25% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €620k more than they bought in the last 12 months. Announcement • Oct 02
Knowles Corporation to Report Q3, 2024 Results on Oct 24, 2024 Knowles Corporation announced that they will report Q3, 2024 results After-Market on Oct 24, 2024 Announcement • Sep 19
Knowles Corporation Provides Revenue Guidance for the Fourth Quarter of 2024 Knowles Corporation provided revenue guidance for the fourth quarter of 2024. Fourth quarter of 2024 revenue from continuing operations is expected to be in the range of $140 to $150 million. Announcement • Aug 14
Knowles Corporation Announces Mil-PRF-55681-Qualified Capacitors for Mission-Critical Defense Applications Knowles Corporation announced they will manufacture and test MIL-PRF-55681 capacitors in the United States. Developed by the Defense Logistics Agency (DLA), MIL-PRF- 55681 is a critical military specification that sets strict standards for designing and developing ceramic capacitors used in defense and aerospace projects. To achieve qualification under MIL-PRF-55682, a supplier must adhere to rigorous testing protocols and demonstrate compliance with precise technical requirements. This testing involves the extensive evaluation of factors like temperature stability, reliability under mechanical stress and shock, and adherence to tight tolerance levels. Knowles' ceramic capacitors will also be listed on the U.S. Department of Defense's Qualified Products List (QPL). Components selected for this list have undergone comprehensive testing and evaluation to validate their suitability for government projects, thereby improving their availability to customers while also shortening the procurement process and reducing the need for quality audits and testing. Knowles' capacitors have demonstrated the robustness needed to perform consistently under environmentally demanding conditions, where minimizing failure risks is of the utmost importance. In addition to the custom, high-reliability capacitors Knowles is trusted and renowned for, designers using a range of MIL (CDR) styles can now rely on Knowles to provide the standard military qualified capacitors they need for guidance and control systems, radar systems, electronic warfare, power supply units, and other high-risk applications. Announcement • Aug 08
Knowles Corporation Extends Operating Life of Electronic Devices with New Arc Suppressor/Snubber Network Devices Knowles Corporation announced the QAS Series, a new line of RC-type Arc Suppressor/Snubber components that extend the operating life of electronic and electro-mechanical devices. Knowles' Cornell Dubilier brand QAS Series devices provide single-device RC networks in two-lead radial packages. QAS networks extend the operating life of electronic & electro-mechanical devices by reducing and/or eliminating electrical arcing at the point of electrical contact. Without a snubber circuit, arcing often leads to early failures in relays, switch contacts, and solid-state components such as SCRs and TRIACs. When the contacts in an arc suppression circuit open, a voltage is applied across the capacitor instead of the relay contacts. This prevents arcing because the capacitor charges faster than the contacts open. When the contacts close, the inrush current from the charged capacitor and source can exceed the safe conductance of the contacts. The resistor in the network limits the inrush current significantly, reducing the arc produced at contact closure, and extends the service life of the contacts. In practical applications, for DC voltage, theRC network is typically connected across the relay contacts, and for AC voltage, it is connected across the load. The QAS is also effective at reducing spark-generated EMI/RFI that can cause interference with the operation of a circuit. Each device consists of metallized polyester capacitor RC network, coated with a flame-retardant epoxy. Having a single device containing an RC network has advantages for circuit designers rather than building discrete networks. The single device is more compact, pretested, and environmentally more robust. The QAS product line includes 24 devices with: Capacitance values of up to 1.0uF; Resistor values up to 680 ohms, Rated voltage options up to 1600 Vdc/660 Vac, 60 Hz; Operating temperature range -55 degC to +85 degC at full rated voltage. New Risk • Aug 05
New major risk - Revenue and earnings growth Earnings have declined by 42% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 42% per year over the past 5 years. Minor Risk Currently unprofitable and not forecast to become profitable next year (US$4.2m net loss next year). Announcement • Jul 11
Knowles Corporation to Report Q2, 2024 Results on Jul 31, 2024 Knowles Corporation announced that they will report Q2, 2024 results After-Market on Jul 31, 2024 Buy Or Sell Opportunity • Jul 01
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 8.1% to €16.00. The fair value is estimated to be €12.89, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 7.4% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 10% in a year. Earnings are forecast to decline by 21% in the next year. Announcement • Jun 18
Knowles Corporation Appoints Jason Cardew to Its Board of Directors Knowles Corporation announced the appointment of Jason Cardew as an independent director to the Company’s Board of Directors. His appointment expands the Board to 10 directors. Mr. Cardew has over 30 years of experience at Lear Corporation, a global automotive technology leader in seating and electrical distribution systems and related electronics components, where he currently serves as Senior Vice President and Chief Financial Officer, a position he has held since 2019. As Chief Financial Officer, he is responsible for Lear's global financial strategy and financial activities and also oversees Lear’s information technology function worldwide. Prior to his current role, Mr. Cardew held various operational and commercial finance leadership positions at Lear, including serving as Vice President, Finance – Seating and E-Systems from 2018 to 2019; Vice President, Finance – Seating, from 2012 to 2018; Interim Chief Financial Officer, from 2011 to 2012; and Vice President, Financial, Planning and Analysis, from 2010 to 2011. Mr. Cardew will also serve as a member of the Audit Committee of Knowles’ Board of Directors. Buy Or Sell Opportunity • May 03
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 2.0% to €15.30. The fair value is estimated to be €12.45, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 7.4% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 11% in a year. Earnings are forecast to decline by 22% in the next year. Announcement • May 03
Knowles Corporation Provides Earnings Guidance for the Second Quarter Ending June 30, 2024 Knowles Corporation provided earnings guidance for the second quarter ending June 30, 2024. For the quarter, the company expected revenue of $199 million to $209 million and Diluted earnings per share of $0.08 to $0.12. Reported Earnings • May 02
First quarter 2024 earnings released: EPS: US$0.028 (vs US$0.057 loss in 1Q 2023) First quarter 2024 results: EPS: US$0.028 (up from US$0.057 loss in 1Q 2023). Revenue: US$196.4m (up 36% from 1Q 2023). Net income: US$2.50m (up US$7.70m from 1Q 2023). Profit margin: 1.3% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 3.9% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Announcement • Apr 09
Knowles Corporation to Report Q1, 2024 Results on May 01, 2024 Knowles Corporation announced that they will report Q1, 2024 results After-Market on May 01, 2024 Reported Earnings • Feb 23
Full year 2023 earnings released: EPS: US$0.80 (vs US$4.69 loss in FY 2022) Full year 2023 results: EPS: US$0.80 (up from US$4.69 loss in FY 2022). Revenue: US$707.6m (down 7.5% from FY 2022). Net income: US$72.4m (up US$502.5m from FY 2022). Profit margin: 10% (up from net loss in FY 2022). The move to profitability was driven by lower expenses. Revenue is forecast to grow 7.3% p.a. on average during the next 2 years, compared to a 9.9% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 08
Full year 2023 earnings released: EPS: US$0.80 (vs US$4.69 loss in FY 2022) Full year 2023 results: EPS: US$0.80 (up from US$4.69 loss in FY 2022). Revenue: US$707.6m (down 7.5% from FY 2022). Net income: US$72.4m (up US$502.5m from FY 2022). Profit margin: 10% (up from net loss in FY 2022). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 10.0% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Announcement • Feb 08
Knowles Corporation Provides Earnings Guidance for the First Quarter Ending March 31, 2024 Knowles Corporation provided earnings guidance for the first quarter ending March 31, 2024. For the quarter, the company expects GAAP revenues to be $190 million to $200 million, GAAP Diluted earnings per share to be $0.02 to $0.06. Announcement • Jan 19
Knowles Corporation to Report Q4, 2023 Results on Feb 07, 2024 Knowles Corporation announced that they will report Q4, 2023 results at 4:00 PM, US Eastern Standard Time on Feb 07, 2024 Announcement • Dec 28
Knowles Corporation Announces Resignation of Hermann Eul, A Member of the Board of Directors and as A Member of the Company's Compensation Committee, Effective January 1, 2024 On December 20, 2023, Dr. Hermann Eul, a member of the Board of Directors (the "Board") of Knowles Corporation (the "Company") informed the Company of his decision to resign as a member of the Board and as a member of the Company's Compensation Committee (the "Committee"), effective January 1, 2024. Dr. Eul's resignation is not the result of any dispute or disagreement with the Company on any matter related to the Company's operations, policies, or practices. In connection with Dr. Eul's resignation and in recognition of his service and contributions to the Company, the Committee approved the accelerated vesting of 6,915 outstanding and unvested restricted stock units previously granted to Dr. Eul under the Company's 2018 Equity and Cash Incentive Plan. New Risk • Nov 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Announcement • Nov 04
Knowles Corporation Announces Earnings Guidance for the Fourth Quarter Ending December 31, 2023 Knowles Corporation announced earnings guidance for the fourth quarter ending December 31, 2023. For the fourth quarter, the company expects GAAP revenues to be in the range of $210.0 million to $220.0 million GAAP diluted EPS to be in the range of $0.17 to $0.21. Reported Earnings • Nov 03
Third quarter 2023 earnings released: EPS: US$0.18 (vs US$0.03 in 3Q 2022) Third quarter 2023 results: EPS: US$0.18 (up from US$0.03 in 3Q 2022). Revenue: US$175.1m (down 1.7% from 3Q 2022). Net income: US$16.6m (up US$13.9m from 3Q 2022). Profit margin: 9.5% (up from 1.5% in 3Q 2022). Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Announcement • Oct 21
Knowles Corporation Join Forces with Edifier in the Creation of the Neobuds Pro 2 True Wireless Stereo Knowles Corporation has joined forces with consumer audio brand Edifier in the creation of the NeoBuds Pro 2 True Wireless Stereo (TWS) earbud design raises the bar for premium wireless audio with the help of Knowles RAN balanced armature (BA) receivers and SiSonic™ MEMS microphone technology. The Edifier NeoBuds Pro 2 streams music over Bluetooth at ultra-high frequencies, up to 192kHz/24bit, using the latest LHDC 5.0 HD codec. Digital signal processing (DSP) with active crossover controls each driver, enabling them to produce frequencies with high precision. NeoBuds Pro 2 is the first to incorporate Edifier's Wide-Band Multi-Channel Active Noise Cancelling (ANC), employing wideband artificial intelligence (AI) noise reduction algorithms and configuring four microphones per earpiece. The ANC design adds an independent feed-forward channel that applies the noise reduction ability of the Knowles BA to hybrid ANC channels. The design also features Knowles' latest Analog MEMS microphone Raptor (SPK01A0LR5H-1), which offers 72dB signal-to-noise ratio (SNR) and a low-frequency roll-off (LFRO) of 17 Hz for superior ANC performance and improved voice call quality. Working with the AI algorithm that filters ambient noise, the Wide-Band Multi-Channel ANC supports noise cancellation with a depth of -50dB and 5kHz bandwidth, as well as high-fidelity transparency mode, low-latency gaming mode, and multi-dimensional spatial audio and head tracking to immerse listeners in a 360-degree sonic realm. The Knowles Preferred Listening Response Curve demonstrates that listeners across age ranges and hearing capabilities prefer expanded treble ranges. To meet listener preferences across markets, personalized hearing capabilities for TWS are crucial. crucial. Acknowledging the significance of customized audio experiences, especially in the TWS market, the earbuds introduce advanced sound personalization features with Edifier’s AI Multimodal Dual Adaptive System. The intuitive mobile app allows users to analyze their listening preferences and optimize a customized auditory journey. Announcement • Oct 14
Knowles Corporation to Report Q3, 2023 Results on Nov 02, 2023 Knowles Corporation announced that they will report Q3, 2023 results After-Market on Nov 02, 2023 Announcement • Sep 20
Knowles Corporation (NYSE:KN) entered into a definitive agreement to acquire Cornell Dubilier Electronics, Inc. for $263 million. Knowles Corporation (NYSE:KN) entered into a definitive agreement to acquire Cornell Dubilier Electronics, Inc. for $263 million on September 18, 2023. The consideration is $263 million and consists of a $140 million cash payment at closing and an interest-free seller note of $123 million, with $50 million maturing one year from closing and the remaining $73 million maturing two years from closing. Knowles Corporation (NYSE:KN) is looking for acquisitions. John Anderson, Senior Vice President and Chief Financial Officer said, "As we look ahead, our priorities have not changed. We'll continue funding the internal initiatives with the highest return on investment, target returning 50% or more of our free cash flow to shareholders through stock repurchases and pursue value-creating acquisitions". Transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in the fourth quarter of calendar year 2023.
J.P. Morgan acted as a exclusive financial advisor. Foley & Lardner LLP acted as a legal advisor to Knowles. Reported Earnings • Aug 03
Second quarter 2023 earnings released: EPS: US$0.15 (vs US$2.64 loss in 2Q 2022) Second quarter 2023 results: EPS: US$0.15 (up from US$2.64 loss in 2Q 2022). Revenue: US$173.0m (down 8.0% from 2Q 2022). Net income: US$13.6m (up US$256.5m from 2Q 2022). Profit margin: 7.9% (up from net loss in 2Q 2022). Revenue is forecast to grow 6.5% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 101 percentage points per year, which is a significant difference in performance. Announcement • Aug 03
Knowles Corporation Provides Earnings Guidance for the Third Quarter of 2023 Knowles Corporation provided earnings guidance for the third quarter of 2023. For the quarter, the company expects GAAP revenues to be in the range of $170.0 million to $180.0 million GAAP diluted EPS to be in the range of $0.14 to $0.18. Announcement • Jul 12
Knowles Corporation to Report Q2, 2023 Results on Aug 02, 2023 Knowles Corporation announced that they will report Q2, 2023 results After-Market on Aug 02, 2023 Recent Insider Transactions • May 22
Independent Director recently sold €188k worth of stock On the 18th of May, Cheryl Shavers sold around 12k shares on-market at roughly €15.43 per share. This transaction amounted to 23% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €340k more than they bought in the last 12 months. Announcement • May 17
Knowles Corporation Appoints Erania Brackett to its Board of Directors Knowles Corporation announced the appointment of Erania Brackett as an independent director to the Company’s Board of Directors. Her appointment expands the Board to 10 directors. Ms. Brackett has over 20 years of experience in the medtech industry. She is currently Senior Vice President, Customer Experience, Orthodontic Aligner Solutions and Head of ESG for Dentsply Sirona, a leading global manufacturer of professional dental products and technologies, where she also served as Senior Vice President and Chief Marketing Officer from August 2021 to March 2023. Prior to joining Dentsply Sirona, Ms. Brackett held various commercial, marketing and operational leadership roles at Medtronic plc and at GE Healthcare. Recent Insider Transactions • May 08
Insider recently sold €126k worth of stock On the 3rd of May, Raymond Cabrera sold around 8k shares on-market at roughly €14.80 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €152k more than they bought in the last 12 months. Reported Earnings • Apr 30
First quarter 2023 earnings released: US$0.057 loss per share (vs US$0.20 profit in 1Q 2022) First quarter 2023 results: US$0.057 loss per share (down from US$0.20 profit in 1Q 2022). Revenue: US$144.3m (down 28% from 1Q 2022). Net loss: US$5.20m (down 129% from profit in 1Q 2022). Revenue is forecast to grow 8.1% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Buying Opportunity • Apr 13
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 8.1%. The fair value is estimated to be €19.01, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Feb 23
Now 21% undervalued Over the last 90 days, the stock is up 9.7%. The fair value is estimated to be €19.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Feb 10
Full year 2022 earnings released: US$4.69 loss per share (vs US$1.63 profit in FY 2021) Full year 2022 results: US$4.69 loss per share (down from US$1.63 profit in FY 2021). Revenue: US$764.7m (down 12% from FY 2021). Net loss: US$430.1m (down 386% from profit in FY 2021). Revenue is forecast to grow 2.9% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Announcement • Feb 10
Knowles Corporation Provides Earnings Guidance for the Quarter Ending March 31, 2023 Knowles Corporation provided earnings guidance for the quarter ending March 31, 2023. For the quarter, the company expects Revenues to be in the range of $140 million to $155 million, Gross Profit Margin to be in the range of 31.7% to 34.7% and EPS to be in the range of negative $0.08 to negative $0.02. Announcement • Jan 25
Knowles Corporation to Report Q4, 2022 Results on Feb 09, 2023 Knowles Corporation announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Feb 09, 2023 Announcement • Jan 05
Knowles Debuts Trio of Sisonic Mems Microphones for High-Performance Ear & Wearable Solutions Knowles Corporation introduced its latest series of SiSonic™ MEMS microphones: Titan (Digital), Falcon (Differential Analog), and Robin (Single Ended Analog). The new trio of microphones provides advanced performance capabilities for space constrained Ear and wearable applications like True Wireless Stereo (TWS) earbuds, smart watches, Augmented Reality (AR) glasses and Virtual Reality (VR) headsets. Knowles SiSonic™ MEMS Microphones for high-performance Ear and Wearable Solutions (Graphic: Business Wire) Each of the new SiSonic microphones is helping raise the standard of audio for today’s on-the-go lifestyle. Robin offers 66dB SNR and clean signals up to 130dB SPL with less than 1 percent distortion. The low distortion in loud environments enables high-fidelity sound capture and superior beamforming performance for the smallest of form factors. A similar level of signal clarity holds true for Falcon, and brings even higher signal-to-noise ratio (SNR) performance of 68.5dB further improving TWS applications like Ambient Awareness with less noise. In critical low frequency and speech band use cases, Falcon delivers 69dB. Likewise, Titan offers similar SNR performance to Falcon, while improving battery life by consuming 60 percent lower current (470uA) than typical digital mics and lowering latency to 3us, making it ideal for Active Noise Cancellation (ANC) and always-on applications in digital architectures. Announcement • Dec 22
Knowles Releases Balanced Armatures, Mems for Over-The-Counter Hearing Aids Knowles Corporation debuts its latest solutions optimized for over-the-counter (OTC) hearing aids. The new releases – including a trio of balanced armature receivers and two MEMS microphones – offer performance and design flexibility to accelerate the production of hearing health products. This announcement follows the U.S. Food and Drug Administration’s issuance of the long-anticipated final rules to establish and regulate a new category for OTC hearing aids. The rulemaking is intended to broaden access to quality, affordable hearing aids for millions of US adults with perceived mild to moderate hearing loss. The final rules officially took effect on Oct. 17, 2022, and OTC hearing aids became available for purchase through several major department stores, pharmacies and online retailers. Announcement • Oct 29
Knowles Corporation Provides Earnings Guidance for the Quarter Ending December 31, 2022 Knowles Corporation provided earnings guidance for the quarter ending December 31, 2022. For the quarter, the company expected Revenues of $200 million to $220 million and EPS of $0.20 to $0.24. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: US$0.03 (vs US$0.30 in 3Q 2021) Third quarter 2022 results: EPS: US$0.03 (down from US$0.30 in 3Q 2021). Revenue: US$178.2m (down 24% from 3Q 2021). Net income: US$2.70m (down 90% from 3Q 2021). Profit margin: 1.5% (down from 12% in 3Q 2021). Revenue is forecast to grow 2.6% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Announcement • Oct 11
Knowles Corporation to Report Q3, 2022 Results on Oct 27, 2022 Knowles Corporation announced that they will report Q3, 2022 results After-Market on Oct 27, 2022 Announcement • Sep 30
Knowles Corporation Releases New TWS Reference Design with Best-In-Class Music Experience and Advanced Features Knowles Corporation announced the availability of KN2, the first True Wireless Stereo (TWS) reference design tuned to the Knowles Preferred Listening Response Curve for the best music listening experience. KN2 features a state-of-art hybrid dual speaker system paired with an advanced Bluetooth system-on-chip (SoC) to deliver superior High Definition (HD) audio and active noise cancellation (ANC) performance along with other advanced features. Consumer expectations for HD audio are at an all-time high, placing more pressure on OEMs across markets to deliver premium sound performance with robust connectivity and long-wear comfort. The hybrid dual speaker system consists of a dynamic speaker for warm, robust bass combined with a Knowles balanced armature (BA) tweeter for delicate, precise treble. Together they deliver a full-bodied listening experience. The small form factor of the system enables a comfortable fit without compromising sound quality and range. Knowles recently released its Preferred Listening Response Curve for earphone design. Knowles began by analyzing 200 Billboard Hot 100 songs to determine the treble content of popular music, then performed double-blind listening tests on a range of consumers to evaluate their preferred treble response when listening to that music. Knowles' study revealed that treble response beyond 10 kHz is essential for delivering the best and most satisfying music listening experience. Designing and tuning an earphone that matches the high frequency response of the Knowles Preferred Listening Response Curve is expected to consistently provide a highly satisfactory end user experience and solicit high ratings from consumers. KN2 is the first earphone reference design to be tuned to the curve, optimizing treble performance to bring breadth and life to music. KN2 also incorporates a robust collection of must-have TWS features into its small footprint. It includes the Qualcomm QCC5144 BT SoC with the aptX codec and aptX Adaptive for robust, low-bit rate, low-latency HD audio and hybrid ANC. Also, within the earbuds are multiple Knowles SiSonicTM MEMS microphones to enable voice call algorithms for enhanced noise canceling performance. This compact, comfortable and high-performance reference design accelerates the time-to-market and alleviates design challenges for TWS manufacturers. The KN2 reference design will be available for purchase on Digi-Key and Mouser in fourth quarter 2022. Reported Earnings • Aug 03
Second quarter 2022 earnings released: US$2.64 loss per share (vs US$0.19 profit in 2Q 2021) Second quarter 2022 results: US$2.64 loss per share (down from US$0.19 profit in 2Q 2021). Revenue: US$188.0m (down 5.9% from 2Q 2021). Net loss: US$242.9m (down US$260.3m from profit in 2Q 2021). Over the next year, revenue is forecast to grow 9.4%, compared to a 20% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Jul 27
Knowles Corporation Appoints Daniel J. Crowley to Its Board of Directors Knowles Corporation announced the appointment of Daniel J. Crowley as an independent director to the Company’s Board of Directors. His appointment expands the Board to 9 directors. Mr. Crowley is currently Chairman, President and Chief Executive Officer of Triumph Group Inc., a global company that designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerospace and defense systems, components and structures. He served as Triumph’s President and Chief Executive Officer and as a director since 2016, and as its Chairman since 2020. Mr. Crowley has over 38 years of experience in the aerospace and defense industry. He previously served as a corporate Vice President and President of Integrated Defense Systems at Raytheon Company from 2013 until 2015, and as President of Network Centric Systems at Raytheon Company from 2010 until 2013. Prior to joining Raytheon Company, Mr. Crowley served as Chief Operating Officer of Lockheed Martin Aeronautics after holding a series of increasingly responsible assignments across its space, electronics, and aeronautics sectors. Announcement • Jul 15
Knowles Corporation to Report Q2, 2022 Results on Aug 02, 2022 Knowles Corporation announced that they will report Q2, 2022 results After-Market on Aug 02, 2022 Recent Insider Transactions • May 26
Independent Director recently sold €55k worth of stock On the 23rd of May, Cheryl Shavers sold around 3k shares on-market at roughly €17.64 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €315k more than they bought in the last 12 months. Announcement • May 19
Knowles Corporation Unveils the Formula for Best Earphone Music Listening Experience Knowles Corporation released research demonstrating a new Preferred Listening Response Curve for earphone design, reflecting findings to ensure the best and most satisfying music listening experience for consumers. Sound quality continues to be at the top of the list for consumer audio demand, yet many True Wireless Stereo (TWS) earphone manufacturers have been slow to take advantage of the developing hi-res audio ecosystem. With the proliferation of lossless music streaming subscription services like Tidal, Amazon Music HD and Apple Lossless, together with availability of high data rate Bluetooth codecs, the industry is able to deliver hi-res audio wirelessly with the right hardware and tuning. Knowles' latest research provides valuable insight into how to satisfy consumer demand for the best-sounding audio in either wired or wireless earphones. Knowles analyzed more than 200 recordings, chosen from the last 20 years of the Billboard Hot 100 to represent much of the music that headphone wearers are likely to be streaming. This revealed significant high frequency content above 10 kHz in popular music that many earphones fail to reproduce well. From here, the team conducted controlled blind testing of a wide variety of listeners – with a range of demographics and hearing abilities – to determine what makes the best sound quality, as preferred by listeners. Optimum high frequency response is key when designing hi-res earphones. Using technology only recently available, Knowles was able, for the first time, to extend an understanding of user preference beyond 10 kHz to create the new Knowles Preferred Listening Response Curve. By focusing on the high frequency response, the new curve is uniquely suited to give manufacturers the insight needed to deliver the best hi-res listening experience. Key findings from the Knowles research shows that earphones tuned to earlier concepts of what sounds good severely understate the amount of high frequency energy that listeners prefer. According to the Knowles Preferred Listening Response Curve, listeners consistently preferred between 12 and 21 decibels (dB) of boost at frequencies beyond 10 kHz, depending on age and hearing ability. Designing and tuning an earphone that matches the high frequency boost identified using the Knowles Preferred Listening Response Curve is expected to consistently provide a highly satisfactory end user experience and receive high ratings from consumers. The Knowles Curve is an especially powerful tool when used with hearing personalization algorithms. Knowles included subjects with various levels of reduced high frequency hearing response and determined their preferred amount of boost. With this data, designers of TWS earphones with hearing personalization can configure their algorithm to produce the optimum sound quality across the range of hearing abilities commonly experienced by consumers. Announcement • May 18
Knowles Corporation Presents its New Dual-Diaphragm Balanced Armature (BA) Knowles Corporation presents its new dual-diaphragm balanced armature (BA), a revolutionary advancement in the world of BA technology. The patented dual-diaphragm technology allows the BA to achieve high output levels while maintaining a small footprint. The design incorporates two chambers, each housing its own diaphragm and drive rod actuated by a single coil. The combined output of the two chambers provides a warm, clear sound and more natural quality for premium earphones and discreet hearing devices. To make the most of this technology's potential, Knowles has partnered with two of the most trusted and experienced names in HiFi audio: Campfire Audio and Astell&Kern. With the new dual-diaphragm BA as a defining ingredient, the companies have come together to create a groundbreaking, premium earphone: Pathfinder. Experience the premium sound quality and exceptional comfort of Astell&Kern's Pathfinder at HIGH-ENDMunich May 19-22, 2022. The Knowles dual-diaphragm BA will be a continued feature of Campfire Audio's upcoming products, representing a new era in Campfire's legacy of high-performance premium earphones. Reported Earnings • Apr 30
First quarter 2022 earnings released: EPS: US$0.20 (vs US$0.14 in 1Q 2021) First quarter 2022 results: EPS: US$0.20 (up from US$0.14 in 1Q 2021). Revenue: US$201.4m (flat on 1Q 2021). Net income: US$18.1m (up 45% from 1Q 2021). Profit margin: 9.0% (up from 6.2% in 1Q 2021). Over the next year, revenue is forecast to grow 7.6%, compared to a 26% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 4 highly experienced directors. Independent Director Mike Wishart was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 12
Knowles Corporation to Report Q1, 2022 Results on Apr 28, 2022 Knowles Corporation announced that they will report Q1, 2022 results After-Market on Apr 28, 2022 Recent Insider Transactions • Mar 06
Independent Director recently sold €260k worth of stock On the 25th of February, Ye Li sold around 13k shares on-market at roughly €19.35 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €399k more than they bought in the last 12 months. Announcement • Feb 16
Knowles Introduces New Balanced Armature Receiver for Over-The-Counter Hearing Aid Market Knowles Corporation announced the RAQ, a new medium-power balanced armature receiver developed for high volume hearing health and TWS products. This full-range balanced armature receiver’s small size and high output delivers up to 116dB Sound Pressure Level (SPL) at 500Hz, making it optimally positioned to meet the performance requirements for both hearing health and True Wireless Sound (TWS) products. The RAQ brings a new level of performance and consistency along with high output, low distortion and small size to bring clear, premium sound with the high levels of sensitivity needed for hearing health applications. Reported Earnings • Feb 10
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$1.63 (up from US$0.032 in FY 2020). Revenue: US$868.1m (up 14% from FY 2020). Net income: US$150.2m (up US$147.3m from FY 2020). Profit margin: 17% (up from 0.4% in FY 2020). The increase in margin was primarily driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 6.8%, compared to a 23% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 10% per year. Announcement • Feb 10
Knowles Corporation Provides Earnings Guidance for the First Quarter Ending March 31, 2022 Knowles Corporation provided earnings guidance for the first quarter ending March 31, 2022. The company expected first quarter revenue of $197 to $203 million and earnings per share to be $0.12 to $0.14. Reported Earnings • Oct 29
Third quarter 2021 earnings released: EPS US$0.30 (vs US$0.061 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$233.0m (up 13% from 3Q 2020). Net income: US$27.7m (up 395% from 3Q 2020). Profit margin: 12% (up from 2.7% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • Sep 24
Knowles Corporation Launches Raspberry Pi Development Kit to Enable Voice Integration for New IoT Applications and Industries Knowles Corporation announced the availability of the Knowles AISonic IA8201 Raspberry Pii Development Kit to bring voice, audio edge processing, and machine learning (ML) listening capabilities to devices and systems in a range of new industries. By leveraging the kit, product designers and engineers from OEM/ODM companies have a single tool to streamline design, development, and testing of technology that pushes the boundaries of voice and audio integration in their respective industries. The new kit is built around the Knowles AISonic IA8201 Audio Edge Processor OpenDSP, for ultra-low power and high-performance for a plethora of audio processing needs. The audio edge processor combines two Tensilica-based, audio-centric DSP cores; one for high-power compute and AI/ML applications, and the other for very low-power, always-on processing of sensor inputs. The IA8201 has 1MB of RAM on-chip that allows for high bandwidth processing of advanced, always-on contextually aware ML use-cases and memory to support multiple algorithms for an optimal user experience. Using the Knowles open DSP platform, the kit includes a library of on-board audio algorithms and AI/ML libraries. Farfield audio applications can be built using the available ultra-low power voice wake, beamforming, custom keywords, and background noise elimination algorithms from Knowles algorithm partners such as Amazon Alexa, Sensory, Retune, and Alango to open up the design possibilities and ensure the freedom needed to support a wide range of voice and audio customization. The kit also features TensorFlow Lite Micro SDK for fast prototyping and product development for AI/ML applications. The TensorFlow Lite SDK allows for porting models developed in larger cloud Tensor Flow frameworks to an embedded platform at the edge, usually with limited compute and lower power consumption, for example, AI inference engines for anomaly detection in verticals such as industrial and commercial. Announcement • Aug 06
Knowles Corporation Releases AI-Enabled TWS Development Kit with Premium Features Knowles Corporation announced the availability of its AI-enabled True Wireless Stereo (TWS) Development Platform to accelerate the product development process, from entry-level to premium applications. With this new solution, OEMs gain access to a fully operational TWS development kit, which includes pre-tuned and pre-configured earbuds designed by Knowles paired with a powerful Bluetooth®-enabled processing platform. The earbuds come designed with Knowles SiSonicTM MEMS Microphone Arrays, voice vibration sensors, and a choice of premium speaker driver assemblies with Knowles Balanced Armatures to drive the development of advanced TWS features while reducing time-to-market and lowering the high costs associated with ground-up development. Knowles has engaged multiple partners to integrate premium features on this development kit, which enable manufacturers to quickly add Active Noise Cancellation (ANC), ambient mode, high definition (HD) audio, voice command, voice call algorithms, and AI-enabled conversation enhancement. The processing platform is at the core of this TWS development kit, with Knowles IA8201 AISonic™ audio edge processor and Sony Semiconductor Solutions Corporation’s CXD 3781 Codec paired with a premium Bluetooth Audio System on Chip (SoC) to allow for immersive experiences and noise filtering. With high ANC and transparency performance, the design offers a competitive platform for development. The Knowles IA8201 AISonic audio edge processor is optimized for advanced voice and audio processing. This robust development platform is flexible, allowing manufacturers to test their own configurations with detachable earbuds, integrate advanced features, and tune for performance and power consumption. The Knowles earbuds come designed with Knowles high performance Everest (SPH0690LM4H-1) digital microphones for high-quality audio capture. Everest digital microphones are built in a compact form factor to allow for flexible integration in highly space-constrained devices like TWS headsets. It provides high signal-to-noise ratio (SNR) and acoustic overload point (AOP) combined with excellent wideband audio for studio grade performance and high-quality ANC. For HD audio output, the earbuds are designed with a hybrid driver that includes a Knowles balanced armature tweeter and a dynamic woofer. Another version comes with Knowles’ smallest full-range balanced armature driver targeting discreet form factor TWS devices. To meet rising demands for voice quality and intelligibility, Knowles has partnered with Alango Technologies, a leading voice, hearing, and audio DSP solutions provider. Alango’s Voice Communication Package (VCP) with multi-microphone beamforming, and its OnlyVoice technology, which intelligently combines external beamforming with internal sensor-based voice processing, are both ported to the IA8201 processor. With low power consumption and memory requirements, these highly optimized solutions enable premium voice pickup for TWS devices. Also included in the TWS kit is AITransparency+ from Chatable - the first AI specifically designed to exploit the next-generation AI processing capabilities of the IA8201 AISonic processor for “Conversation Enhancement.” AITransparency+ provides “Conversation Enhancement” and features advanced, on-chip, proprietary Deep Neural Network architectures performing over one hundred million AI calculations per second to enable selective acoustic enhancement of conversational speech signals without perceptible latency. The TWS development kit is scalable, rich, and open to customization, allowing customers to leverage pre-tuned algorithms from Knowles’ partners or quickly tune their own algorithms for other use cases. The open, flexible nature of this kit supports existing and emerging TWS premium features and next generation applications, leveraging best-in-class audio and hearing technologies with flexibility for future innovation. Reported Earnings • Jul 30
Second quarter 2021 earnings released: EPS US$0.19 (vs US$0.21 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$199.8m (up 31% from 2Q 2020). Net income: US$17.4m (up US$36.9m from 2Q 2020). Profit margin: 8.7% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • May 28
Knowles Corporation Releases New Development Kit to Bring Voice Control to Smart Home Appliances Knowles Corporation announced the AISonic™ White Goods Standard Solution, a new, complete development solution that enables fast and easy voice integration for smart appliances. The development kit enables OEM and ODMs to build voice-activated control and far-field speech recognition capabilities into smart appliances, including refrigerators, ovens and microwaves, clothes washing and drying machines, vacuums, dishwashers, and more. The Knowles White Goods Standard Solution was used by Samsung in its FamilyHub™ connected hub for smart appliances. The AISonic White Goods Standard Solution is a development package built upon Knowles’ industry-leading AISonic Audio Edge Processor IA8201 for the most accurate contextual audio and sensing, and includes an IA8201 reference board accompanied by an API supporting integration with Application Processors, or MCUs or RF chipsets, a system firmware release configured to support sensors, and pre-integrated microphones from Knowles to enable high-quality audio capture and high signal-to-noise ratio. The Knowles White Goods Standard Solution supports voice service interoperability, allowing multiple voice assistants to be integrated into a single device and enabling customers to talk to the service of their choice in a secure manner by simply saying its name. This enables the Knowles White Goods Standard Solution to be integrated into a broader ecosystem of smart appliance devices, allowing for greater product development freedom and innovation. The AISonic White Goods Standard Solution also includes algorithms for an Audio Front End suitable for use with Amazon Alexa assistants and other cloud-based ASR APIs through the Knowles OpenDSP partner program. Knowles integration partner Sensory Inc. provided the wake word engine for the White Goods Solution, enabling Amazon-certified voice wake and far-field voice recognition for memory-constrained smart appliances. Recent Insider Transactions • May 02
Independent Director recently sold €139k worth of stock On the 29th of April, Cheryl Shavers sold around 8k shares on-market at roughly €17.41 per share. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought €38k more than they sold in the last 12 months. Announcement • Apr 25
Knowles Corporation Provides Outlook for the Second Quarter Ending June 30, 2021 Knowles Corporation provided outlook for the second quarter ending June 30, 2021. For the quarter, the company expected revenue to be in the range of $185 to $205 million. Earnings per share is expected to be in the range of $0.14 to $0.20. sales is expected to increase 28% from the year ago. Reported Earnings • Apr 24
First quarter 2021 earnings released: EPS US$0.14 (vs US$0.14 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$201.0m (up 23% from 1Q 2020). Net income: US$12.5m (up US$25.3m from 1Q 2020). Profit margin: 6.2% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Announcement • Mar 12
Knowles Corporation, Annual General Meeting, Apr 27, 2021 Knowles Corporation, Annual General Meeting, Apr 27, 2021, at 09:00 Central Standard Time. Agenda: To consider election of nine directors named in this proxy statement for a one-year term or until their respective successors have been duly elected and qualified; to consider ratification of the appointment of pricewaterhousecoopers llp as independent registered public accounting firm for fiscal year 2021; and to consider non-binding, advisory vote to approve named executive officer compensation. Announcement • Feb 25
Knowles Releases New Broad Market Development Kit to Speed up Voice Integration for Bluetooth Devices Knowles Corporation announced the AISonic™ Bluetooth® Standard Solution, a new, complete development solution that enables fast and easy voice integration to Bluetooth devices. The development kit enables OEM and ODMs to build voice-activated calling, control, and far-field speech recognition capabilities into Bluetooth devices, including smart speakers, smart home locks, connected light switches, wearables, in-vehicle voice assistants, and more. AISonic Bluetooth Standard Solution is one development package available under Knowles’ new line of reference solutions for voice activation, control, and contextual audio processing for TVs, portable speakers, soundbars, whitegoods, and a wide range of IoT electronics, known as Knowles Industry Standard Solutions. The kit is built upon Knowles AISonic Audio Edge Processor IA8201, which achieves high performance along with the industry’s lowest power consumption to enable wake-on-voice functionality in small, battery-operated devices. The AISonic Bluetooth Standard Solution Package balances scalability and flexibility to bring ease of integration across a myriad of embedded platforms. The kit features an IA8201 reference board accompanied with an API supporting integration with Bluetooth chipsets having an embedded MCU running an RTOS, and system firmware release configured to support sensors and pre-integrated microphones from Knowles to enable the highest quality audio capture. The solution has helped Knowles partners to scale further in developing AWS-AVS, Alexa Auto and AVS-AMA solutions on several Bluetooth and embedded MCU platforms. The opportunities for voice integration have extended from inside homes and buildings to mobile, automotive, wearable, and other accessory applications for on-the-go control. Sugr, a world-wide solution provider well known for its voice algorithm and integration capability has just completed the iOttie Aivo Connect integration with Knowles IA8201. The AISonic Bluetooth Standard Solution also includes algorithms for an Audio Front End suitable for use with many voice assistants or cloud-based ASR APIs. The Knowles OpenDSP partner program allows for many algorithm developers to provide libraries for a Beam Former, omnidirectional voice capture, AEC to sort voice commands from background to meet the stringent false wake standard of AVS. Is New 90 Day High Low • Feb 25
New 90-day high: €18.00 The company is up 27% from its price of €14.20 on 26 November 2020. The German market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €23.77 per share. Recent Insider Transactions • Feb 12
Insider recently sold €116k worth of stock On the 10th of February, Raymond Cabrera sold around 7k shares on-market at roughly €17.09 per share. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought €177k more than they sold in the last 12 months. Reported Earnings • Feb 07
Full year 2020 earnings released: EPS US$0.032 (vs US$0.55 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: US$764.3m (down 11% from FY 2019). Net income: US$2.90m (down 94% from FY 2019). Profit margin: 0.4% (down from 5.8% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 07
New 90-day high: €17.40 The company is up 30% from its price of €13.40 on 06 November 2020. The German market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 24% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €23.90 per share. Analyst Estimate Surprise Post Earnings • Feb 07
Revenue beats expectations Revenue exceeded analyst estimates by 0.02%. Over the next year, revenue is forecast to grow 12%, compared to a 23% growth forecast for the Electronic industry in Germany. Is New 90 Day High Low • Jan 21
New 90-day high: €16.20 The company is up 19% from its price of €13.60 on 23 October 2020. The German market is up 12% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electronic industry, which is up 22% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €193 per share. 
