| Cirrus Logic, Inc. (NASDAQ: CRUS) today posted on its website at investor.cirrus.com the quarterly Shareholder Letter that contains the complete financial results for the second quarter of fiscal year 2025, which ended September 28, 2024, as well as the company’s current business outlook. |
| “Cirrus Logic reported record revenue and earnings per share for the September quarter. Revenue was near the top end of our guidance range due to strong demand for products shipping into smartphones,” said John Forsyth, Cirrus Logic president and chief executive officer. “In addition to our outstanding financial results, during the quarter, we started shipping our next-generation custom boosted amplifier and first 22-nanometer smart codec in recently launched smartphones. We also made excellent progress in the laptop market as we secured our first high-volume mainstream design win with our latest PC codec and began shipping our first power product in multiple tier-one customers’ devices. With an extensive product portfolio and a compelling roadmap of future products, we believe Cirrus Logic is well-positioned to capitalize on the many opportunities ahead of us to further broaden our technology and market reach.” |
| Reported Financial Results – Second Quarter FY25 |
- Revenue of $541.9 million;
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- GAAP and non-GAAP gross margin of 52.2 percent;
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- GAAP operating expenses of $150.7 million and non-GAAP operating expenses of $126.8 million; and
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- GAAP earnings per share of $1.83 and non-GAAP earnings per share of $2.25.
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| A reconciliation of GAAP to non-GAAP financial information is included in the tables accompanying this press release. |
| Business Outlook – Third Quarter FY25 |
- Revenue is expected to range between $480 million and $540 million;
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- GAAP gross margin is forecasted to be between 51 percent and 53 percent; and
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- Combined GAAP R&D and SG&A expenses are anticipated to range between $148 million and $154 million, including approximately $22 million in stock-based compensation expense and $2 million in amortization of acquired intangibles, resulting in a non-GAAP operating expense range between $124 million and $130 million.
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| Cirrus Logic will host a live Q&A session at 5 p.m. EST today to discuss its financial results and business outlook. Participants may listen to the conference call on the investor relations website at investor.cirrus.com. A replay of the webcast can be accessed on the Cirrus Logic website approximately two hours following its completion or by calling (609) 800-9909 or toll-free at (800) 770-2030 (Access Code: 95424). |
| About Cirrus Logic, Inc. |
| Cirrus Logic is a leader in low-power, high-precision mixed-signal processing solutions that create innovative user experiences for the world’s top mobile and consumer applications. With headquarters in Austin, Texas, Cirrus Logic is recognized globally for its award-winning corporate culture. |
| Cirrus Logic, Cirrus and the Cirrus Logic logo are registered trademarks of Cirrus Logic, Inc. All other company or product names noted herein may be trademarks of their respective holders. |
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| Cirrus Logic, Inc. |
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