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Dec 25, 2021
Cirrus Logic Q3 2022 Earnings Report
Cirrus Logic reported record revenue, driven by high-performance mixed-signal content gains in smartphones.
Key Takeaways
Cirrus Logic reported record revenue of $548.3 million in Q3 FY22, driven by significant contributions from high-performance mixed-signal content in smartphones and strong overall product demand, exceeding the top end of their guidance.
Cirrus Logic reported record revenue in the December quarter, above the top end of guidance.
Revenue was driven by significant contributions from high-performance mixed-signal content shipping into smartphones.
The results reflect continued momentum in FY22 and mark another milestone in the execution of the company's strategy to diversify its product and technology portfolio.
The company is investing in additional technologies targeting new opportunities for incremental content, including the areas of sensing, power, and battery systems.
Forward Guidance
Revenue is expected to range between $400 million and $440 million. GAAP gross margin is forecasted to be between 51 percent and 53 percent. Combined GAAP R&D and SG&A expenses are anticipated to range between $150 million and $156 million, including approximately $19 million in stock-based compensation expense, $8 million in amortization of acquired intangibles and $3 million in acquisition-related costs.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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