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Mar 25, 2023
Cirrus Logic Q4 2023 Earnings Report
Cirrus Logic reported fourth quarter revenue of $372.8 million and full fiscal year 2023 revenue of $1.90 billion.
Key Takeaways
Cirrus Logic reported solid financial results in Q4 FY23, with revenue of $372.8 million. The company's strategy of product diversification through high-performance mixed-signal products saw revenue derived from these solutions increase to 38 percent of total sales.
Q4 FY23 revenue was $372.8 million.
GAAP and non-GAAP gross margin were 50.0 percent and 50.1 percent, respectively.
GAAP loss per share was $(0.97) and non-GAAP earnings per share was $0.92.
Full year FY23 revenue reached a record $1.90 billion, driven by higher sales of components in smartphones.
Cirrus Logic
Cirrus Logic
Forward Guidance
For the first quarter of fiscal year 2024, Cirrus Logic expects revenue to range between $260 million and $320 million, GAAP gross margin is forecasted to be between 49 percent and 51 percent, and combined GAAP R&D and SG&A expenses are anticipated to range between $142 million and $148 million.