10-Q · November 4, 2024
Cirrus Logic reported a strong quarter: revenue of $541,857,000 (three months ended September 28, 2024) increased 12.6% y/y, with gross profit of $282,590,000 and income from operations of $131,852,000 that drove…
Earnings analysis · 10-K
CRUS earnings analysis
Filed May 21, 2026 · Our reading of the company's report
The latest report
Cirrus Logic reported a significant increase in annual revenues for fiscal year 2026, reaching $2.00 billion, up 5% from $1.90 billion in fiscal year 2025. With an operating income of $460.4 million, representing a 23%…
Read full summary
Cirrus Logic reported a significant increase in annual revenues for fiscal year 2026, reaching $2.00 billion, up 5% from $1.90 billion in fiscal year 2025. With an operating income of $460.4 million, representing a 23% operating margin, and a net income of $414.4 million, the company's performance reflects growth in both its audio products and high-performance mixed-signal product lines. A strong demand for smartphone components and better profitability driven by a favorable product mix contributed to these financial results.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $7.85
- Segment
- Audio products
- Segment
- HPMS products
What stood out
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Revenue Growth of 5%
Net sales increased to $2.00 billion for FY26, up from $1.90 billion in FY25.
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Strong Net Income
Net income for FY26 was $414.4 million, up from $331.5 million in FY25.
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Improved Margins
Gross margin improved to 52.8% in FY26 from 52.5% in FY25.
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Increased R&D Investment
Research and development expenses were $434 million, reflecting ongoing investment in new technologies.
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Successful Product Development
Robust demand for custom boosted amplifiers and 22-nanometer smart codecs drove sales.
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Stock Buybacks
The company repurchased $280 million of common stock during FY26.
What to watch
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Increased Operating Expenses
Selling, general and administrative expenses rose to $159.8 million in FY26, a 6% increase compared to FY25.
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Dependence on Key Customers
Apple Inc. accounted for approximately 91% of total net sales, highlighting revenue concentration risk.
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Foreign Currency Exposure
Revenue is largely influenced by sales in China, which introduces fluctuations due to ongoing geopolitical tensions.
Management's outlook
Annual outlook deferred to earnings press release / call.
Earlier filings 4
10-Q · January 31, 2022
Cirrus Logic reported fiscal quarter net sales of $548,349 (thousands) (Q3 ended Dec 25, 2021), up from $485,795 in the year-ago quarter, with gross profit of $289,522 and diluted EPS of $2.16. Revenue and gross margin…
10-K · May 21, 2021
Cirrus Logic positions itself as a leader in low-power, high-precision mixed-signal processing with a three-vector growth strategy: (1) strengthen smartphone audio leadership, (2) expand audio beyond smartphones, and…
10-Q · February 1, 2021
Cirrus Logic reported a strong quarter with revenue of $485,795,000 (up $111,127,000 or ~29.7% vs $374,668,000) and diluted EPS of $1.91 (vs $1.13). Gross profit rose to $251,500,000 but gross margin contracted slightly…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.