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Jun 29, 2024
Cirrus Logic Q1 2025 Earnings Report
Cirrus Logic's Q1 2025 revenue exceeded guidance, driven by strong smartphone shipments and progress in product diversification.
Key Takeaways
Cirrus Logic reported revenue of $374.0 million for the first quarter of fiscal year 2025, exceeding the top end of its guidance range due to stronger-than-expected smartphone shipments. The company also began ramping production of custom boosted amplifiers and 22-nanometer smart codecs, and saw strong design activity in laptops.
Revenue was $374.0 million.
GAAP and non-GAAP gross margin were 50.5 percent and 50.6 percent, respectively.
GAAP earnings per share was $0.76 and non-GAAP earnings per share was $1.12.
Began ramping production of custom boosted amplifier and first 22-nanometer smart codec ahead of new smartphone launches expected later this year.
Revenue by Segment
Forward Guidance
Cirrus Logic expects revenue to range between $490 million and $550 million for the second quarter of fiscal year 2025, with GAAP gross margin forecasted between 50 percent and 52 percent. Combined GAAP R&D and SG&A expenses are anticipated to range between $149 million and $155 million.
Positive Outlook
- Revenue is expected to range between $490 million and $550 million.
- GAAP gross margin is forecasted to be between 50% and 52%.
- R&D and SG&A expenses are anticipated to range between $149 million and $155 million.
- Stock-based compensation expense of approximately $22 million is included in the R&D and SG&A expenses.
- Amortization of acquired intangibles of approximately $2 million is included in the R&D and SG&A expenses.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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