Financial Data and Key Metrics Changes - Cirrus Logic reported revenue of $481.1 million for Q2 fiscal 2024, which is near the top end of guidance and represents a 52% increase quarter-over-quarter, driven by higher volumes from new smartphone launches [5][13] - Year-over-year revenue decreased by 11%, reflecting a reduction in components shipped to smartphones and continued weakness in general market product sales [13] - Non-GAAP gross profit was $247 million with a gross margin of 51.3%, above the high end of guidance, and increased by 90 basis points sequentially due to lower supply chain costs [13][14] - Non-GAAP operating income was $132.5 million, representing 27.5% of revenue, and non-GAAP net income was $101.6 million or $1.80 per share [15] Business Line Data and Key Metrics Changes - The smartphone audio business saw multiple customers introducing new flagship devices featuring Cirrus Logic's audio components, with expectations for more devices in the first half of the coming calendar year [6][7] - Shipments of the latest camera controller ramped up ahead of a customer's product launch, highlighting the importance of camera features in differentiating products [7] - The company is also investing in new intellectual property for battery monitoring and performance, expanding its technology portfolio [8] Market Data and Key Metrics Changes - Cirrus Logic is actively engaged with the top 5 laptop OEMs, shipping content to each and focusing on design win opportunities for next-generation laptop models [9][10] - The company noted favorable trends in the laptop market, including a post-pandemic demand for high-quality audio and the desire for thinner, lighter devices [9] - The Android smartphone market presents challenges, with varying levels of haptic adoption among OEMs, but flagship devices continue to show appreciation for high-quality haptics [28][35] Company Strategy and Development Direction - The company aims to lead in smartphone audio and is on track to introduce a next-generation custom boosted amplifier and a 22-nanometer smart codec next year [6][8] - There is a focus on expanding high-performance mixed-signal content in smartphones and diversifying into new applications and markets beyond smartphones, particularly in laptops [9][11] - The company is optimistic about future growth opportunities in the laptop market, which may exceed those in the Android smartphone market over time [35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's positioning for future growth, with new products in the pipeline and momentum in market diversification efforts [12][20] - The company anticipates a decline in inventory levels in Q3 fiscal 2024 as it draws down inventory to support seasonal product ramps [16] - Management acknowledged the challenges in the Android market but emphasized strong relationships with key OEMs and the potential for growth in the laptop segment [35] Other Important Information - The company ended Q2 fiscal 2024 with approximately $352.5 million in cash and cash equivalents, down from the previous quarter due to inventory build-up and stock repurchases [15] - For Q3 fiscal 2024, revenue is expected to range from $510 million to $570 million, with gross margin projected between 49% and 51% [18] Q&A Session Summary Question: Opportunities in the Windows laptop market compared to Android smartphones - Management highlighted strong relationships with customers across the Windows laptop market and noted engagement with Intel, indicating a favorable position for future designs [25][26] Question: Inventory balance and wafer supply commitments - Management confirmed that inventory levels are expected to decline in Q3 and that the current quarter is anticipated to be the high point for inventory this fiscal year [30][32] Question: Android market opportunities in haptics - Management stated that while flagship Android phones are adopting haptics, the overall market may face headwinds due to cost considerations [28][35] Question: Timing for 22-nanometer products and laptop content ramp - Management clarified that the 22-nanometer smart codec is currently sampling and expected to be introduced in the latter half of next calendar year, with a gradual revenue contribution anticipated in fiscal 2025 [39][41] Question: Diversification efforts in power and battery technology - Management confirmed customer interest in power-related technologies and indicated that significant opportunities exist, although they may take time to materialize [46] Question: Seasonality and revenue expectations for March - Management noted that typical seasonal declines are expected, but specific impacts will depend on the performance of top customers' products [48]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 23, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from ____ to ____ Commission File Number 0-17795 CIRRUS LOGIC, INC. (Exact name of registrant as specified in its charter) Delaware 77-0024818 (State or other jurisdiction o ...

Cirrus Logic, Inc. (NASDAQ:CRUS) Q1 2024 Results Conference Call August 3, 2023 6:00 PM ET Company Participants Chelsea Heffernan - Director, IR John Forsyth - CEO, President & Director Venk Nathamuni - CFO & Principal Accounting Officer Conference Call Participants Matt Ramsay - TD Cowen Tore Svanberg - Stifel Christopher Rolland - Susquehanna Ananda Baruah - Loop Capital Blayne Curtis - Barclays Operator Ladies and gentlemen, thank you for standing by. Welcome to the Cirrus Logic First Quarter Fiscal Year ...

For the quarterly period ended June 24, 2023 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from ____ to ____ Commission File Number 0-17795 CIRRUS LOGIC, INC. (Exact name of registrant as specified in its charter) | Delaware | | | 77-0024818 | | --- | --- | --- | --- | ...

For the Fiscal Year Ended March 25, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from to Commission File Number 0-17795 CIRRUS LOGIC, INC. (Exact name of registrant as specified in its charter) Delaware 77-0024818 (State or other jurisdiction of in ...

Cirrus Logic, Inc. (NASDAQ:CRUS) Q4 2023 Earnings Conference Call May 4, 2023 6:00 PM ET Company Participants Chelsea Heffernan - Director, IR John Forsyth - CEO, President & Director Venkatesh Nathamuni - CFO & Principal Accounting Officer Conference Call Participants Matthew Ramsay - TD Cowen Tore Svanberg - Stifel Blayne Curtis - Barclays Bank Christopher Rolland - Susquehanna Financial Group Ananda Baruah - Loop Capital Markets Operator Ladies and gentlemen, thank you for standing by. Welcome to the Cir ...

Investor Relations Update As of May 4, 2023 SafeHarborStatement Except for historical information contained herein, the matters set forth in this presentation contain forward-looking statements, including industry marketprojections; our revenuegrowthopportunities; our abilitytogrowthepercentrevenuederivedfromhigh-performancemixed-signal solutions beyondaudio;ourabilitytofuelproductandapplicationdiversification;ourabilitytomaintainourleadershippositioninsmartphoneaudio;ourabilityto increase high-performance ...

Cirrus Logic, Inc. (NASDAQ:CRUS) Q3 2023 Earnings Conference Call February 2, 2023 6:00 PM ET Company Participants Chelsea Heffernan – Vice President-Investor Relations John Forsyth – Chief Executive Officer Venk Nathamuni – Chief Financial Officer Conference Call Participants Matt Ramsay – Cowen and Company Tore Svanberg – Stifel Blayne Curtis – Barclays Christopher Rolland – Susquehanna Raji Gill – Needham & Company Ananda Baruah – Loop Capital Operator Ladies and gentlemen, thank you for standing by. Wel ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 24, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES Indicate by check mark whether the registrant has submitted electronically and posted on its corporate website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S- ...

Cirrus Logic, Inc. (NASDAQ:CRUS) Q2 2023 Earnings Conference Call November 1, 2022 5:00 PM ET Company Participants Chelsea Heffernan – Vice President-Investor Relations John Forsyth – Chief Executive Officer Venk Nathamuni – Chief Financial Officer Conference Call Participants Rajvindra Gill – Needham Christopher Rolland – Susquehanna Ethan Potasnick – Cowen and Company David Williams – Benchmark Company Blake Friedman – Bank of America Operator Ladies and gentlemen, thank you for standing by. Welcome to th ...