Goodwill impairment was $755.6 million and intangible impairments were $131.4 million for fiscal year 2024 primarily due to reduced earnings forecasts associated with the business acquired from Sierra Wireless and current macroeconomic conditions, including an elevated interest rate environment.

See "Non-GAAP Financial Measures" below for additional information about our non-GAAP financial results.

First Quarter of Fiscal Year 2025 Outlook

(in millions, except per share data)
Net sales	$	200.0			+/-		$	5.0
Non-GAAP Financial Measures
Gross margin		49.5	%		+/-			100 bps
Operating costs and expenses, net	$	78.5			+/-		$	1.5
Operating income	$	20.5			+/-		$	3.0
Operating margin		10.3	%		+/-			120 bps
Interest expense, net	$	20.5
Normalized income tax rate		12	%
Diluted earnings (loss) per share	$	0.00			+/-		$	0.04
Adjusted EBITDA	$	27.8			+/-		$	3.0
Diluted share count of 64.5 for diluted (loss) per share and 66.0 for diluted earnings per share

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