Cirrus Logic Earnings Call Transcripts
Fiscal Year 2026
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Record FY26 revenue and EPS driven by smartphone and PC demand, with strong growth in HPMS and general market products. FY27 guidance anticipates continued revenue growth and increased R&D investment, despite potential PC market headwinds.
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Record Q3 revenue and earnings were driven by strong smartphone demand and favorable mix, with robust cash flow and continued investment in PC, automotive, and AI-enabled markets. Guidance for Q4 remains strong, and new product launches are expected to drive future growth.
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Record Q2 revenue of $561 million was driven by strong smartphone demand and new product launches, with continued expansion in the PC market and high-margin general market products. Guidance for Q3 projects revenue of $500–$560 million and gross margin of 51%–53%.
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Revenue for the June quarter exceeded expectations, driven by strong smartphone demand and increased content per device. Guidance for Q2 is robust, with continued focus on diversification into laptops and automotive, and strong cash flow and share repurchases supporting shareholder value.
Fiscal Year 2025
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AI is moving to the edge, driving demand for efficient, compact chips and voice interfaces. Automotive haptics and PC market penetration are key growth areas, with significant revenue expected from mainstream PCs and auto products in coming years.
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Camera content growth is shifting revenue seasonality, while expansion into power management, AI, and PC audio is driving new opportunities. Gross margins remain strong, with a focus on diversification, disciplined R&D, and long-term growth in automotive and other markets.
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Q4 revenue exceeded guidance and FY25 revenue grew 6% year-over-year, driven by new audio products and higher smartphone volumes. Record EPS and strong cash flow enabled $261M in share repurchases, while guidance for Q1 FY26 anticipates a sequential revenue decline amid ongoing supply chain and trade monitoring.
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Q3 FY25 revenue exceeded guidance at $555.7M, driven by strong smartphone demand and new product launches. Gross margin hit a record 53.6%, and cash flow remained robust. Guidance for Q4 anticipates lower revenue but continued margin strength and investment in growth markets.
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Record September quarter revenue and EPS driven by strong smartphone demand and new product launches. Guidance for Q3 reflects seasonality and a shorter quarter, with continued investment in R&D and inventory to support long-term growth.
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Revenue exceeded guidance on strong smartphone demand, with 18% year-over-year growth and robust cash flow. New product ramps and over 100 PC/laptop designs signal diversification, while Q2 guidance anticipates further revenue growth and higher inventory for upcoming launches.
Fiscal Year 2024
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Content expansion continues in mobile, PC, and AR/VR, with a focus on edge-of-system innovation and power management. Growth in PC and automotive markets is expected to drive diversification and margin improvement, while Android remains opportunistic.
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Growth is driven by leadership in smartphone audio, expansion into HPMS, and leveraging IP for new markets like PCs, where a $1B+ opportunity is projected. Sustained demand and new product launches, including advanced codecs and amplifiers, support positive outlooks.
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A fabless semiconductor firm is expanding from audio into high-performance mixed-signal products, leveraging strong foundry partnerships and customer concentration for resilience. New camera controllers, codecs, and amplifiers are driving content growth, while AI and AR/VR trends present future opportunities.