"It can go through walls, it can go through basements, it can go through attics." Global operations Semtech, a publicly traded company on the Nasdaq, has more than 1,200 employees at offices in 15 countries. For the fiscal second quarter ending July 29, it reported adjusted net income of $37.6 million (55 cents a share) on revenue of $163 million. Last year, the company brought in record revenue and is likely to repeat that this year, Maheswaran said. "If LoRa continues to succeed, my expectation over the next 10 years is that we should see more records," he added. Already the LoRa chips are making an impact on the company's financials. Semtech had record net sales of LoRa-related products in the first and second quarters of the current fiscal year.