Table of Contents 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 31, 2022 or ☐ 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 001-36801 Qorvo, Inc. (Exact name of registrant as specified in its charter) Delaware 46-5288992 (State or othe ...

Qorvo, Inc. (NASDAQ:QRVO) Q3 2023 Results Conference Call February 1, 2023 5:00 PM ET Company Participants Douglas DeLieto - VP, IR Bob Bruggeworth - President and CEO Grant Brown - CFO Dave Fullwood - SVP, Sales and Marketing Conference Call Participants Toshiya Hari - Goldman Sachs Karl Ackerman - BNP Paribas Gary Mobley - Wells Fargo Securities Edward Snyder - Charter Equity Research Vivek Arya - Bank of America Blayne Curtis - Barclays Matt Ramsay - Cowen Rajvindra Gill - Needham & Company Chris Caso - ...

Table of Contents ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 1, 2022 or ☐ 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 001-36801 Qorvo, Inc. (Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Delaware 46-5288992 (State or other ...

Financial Data and Key Metrics Changes - Revenue for Q2 2023 was $1.158 billion, exceeding guidance by $8 million [21] - Non-GAAP gross margin was 49.2%, impacted by product mix and higher inventory-related charges [23] - Non-GAAP operating income was $338 million, representing 29.2% of sales [24] - Non-GAAP net income was $276 million, with diluted earnings per share of $2.66, $0.11 above guidance [24] - Free cash flow was $220 million, with capital expenditures of $47 million [25] Business Line Data and Key Metrics Changes - High-Performance Analog (HPA) revenue was $228 million, up 8% sequentially and 47% year-over-year, driven by defense and power products [21] - Connectivity and Sensors revenue was $143 million, down 6% sequentially and 19% year-over-year due to weaker consumer electronics spending [21] - Advanced Cellular revenue was $787 million, up 17% sequentially but down 15% year-over-year due to lower smartphone unit volumes [22] Market Data and Key Metrics Changes - China-based revenue was down approximately 20% quarter-on-quarter and about 45% year-on-year [37] - Android-based revenue is expected to represent approximately 10% of total revenue in the December quarter, marking a significant decline [37] - The global handset unit number for 5G is now projected at approximately 600 million for calendar 2022, down from previous estimates [91] Company Strategy and Development Direction - Qorvo is focusing on leveraging core strengths in system solution design, semiconductor manufacturing, and advanced packaging technologies to support growth [9] - The company aims to capitalize on multiyear secular trends like electrification, sustainability, and connectivity [16] - Qorvo is committed to driving process and product development while reducing factory loadings and inventories [17][19] Management's Comments on Operating Environment and Future Outlook - Management noted ongoing weakness in end markets, particularly in consumer-related areas, and a more acute inventory correction than previously predicted [28] - The company expects to see a recovery in Android-based revenue in the March quarter [61] - Management remains optimistic about long-term growth drivers across all business segments despite current challenges [95] Other Important Information - Qorvo signed a long-term supply agreement with SK Siltron for silicon carbide wafers, contributing to growth in the power device business [10] - The company announced a $2 billion share repurchase authorization, replacing a previous authorization [25] - Non-GAAP operating expenses were $233 million, lower than guidance due to cost discipline [23] Q&A Session Summary Question: What was the revenue in China for the quarter? - China-based revenue was down approximately 20% quarter-on-quarter and about 45% year-on-year, expected to represent about 10% of total revenue in the December quarter [37] Question: What is the path to improving gross margins? - The primary headwind for gross margins is underutilization, which is generating over 700 basis points of headwind, with a clear path back to 50% gross margins as volumes return [39][41] Question: How is the Android business trending? - The Android business is experiencing significant weakness, with expectations for a recovery in the March quarter [46][61] Question: What is the outlook for inventory digestion? - Management expects to see some increase in Android-based revenue in the March quarter, indicating a potential recovery [61] Question: What is the expected performance of the connectivity segment? - The connectivity segment is currently underperforming but is expected to become profitable as scale increases and utilization improves [79]

Qorvo, Inc. (NASDAQ:QRVO) Goldman Sachs 2022 Communacopia + Technology Conference September 13, 2022 2:30 PM ET Company Participants Douglas DeLieto - Vice President-Investor Relations Grant Brown - Chief Financial Officer Conference Call Participants Toshiya Hari - Goldman Sachs Toshiya Hari Okay, great. I think we're on. We'd like to get started. Thank you all for coming. My name is Toshiya Hari, I cover the semiconductor and semi cap equipment space at Goldman Sachs. Very pleased, very honored to have th ...

Table of Contents 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 July 2, 2022 or ☐ 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 001-36801 Qorvo, Inc. (Exact name of registrant as specified in its charter) Delaware 46-5288992 (State or other jur ...

Qorvo, Inc. (NASDAQ:QRVO) Q1 2023 Earnings Conference Call August 3, 2022 5:00 PM ET Company Participants Douglas DeLieto – Vice President-Investor Relations Bob Bruggeworth – President and Chief Executive Officer Grant Brown – Interim Chief Financial Officer Eric Creviston – Head-Connectivity & Sensors Philip Chesley – Head-High Performance Analog Conference Call Participants Matt Ramsay – Cowen Vivek Arya – Bank of America Gary Mobley – Wells Fargo Blayne Curtis – Barclays Toshiya Hari – Goldman Sachs Amb ...

Qorvo, Inc. Conference Call Summary Company Overview - **Company**: Qorvo, Inc. (NASDAQ: QRVO) - **Participants**: Robert Bruggeworth (CEO), Grant Brown (Interim CFO) - **Conference**: J.P. Morgan's 50th Annual Global Technology, Media and Communications Conference on May 23, 2022 Key Points Industry and Market Dynamics - **5G Smartphone Market**: Initial forecast of 700-750 million 5G phones in 2022 revised down to 650-675 million due to declining consumer sentiment and lockdowns in China [5][6] - **Impact of Geopolitical Events**: The Russia-Ukraine conflict has affected export markets for China-based handset customers and Samsung in Eastern Europe [6] - **Temporary Market Conditions**: Current challenges viewed as temporary, with long-term growth drivers for 5G and WiFi technologies expected to remain strong [6][10] Business Performance - **Quarterly Growth**: Qorvo experienced growth in both Mobile and IDP (Infrastructure and Defense Products) businesses in the March quarter compared to the December quarter [4] - **Customer Diversification**: Focus on building a diversified customer base, including significant growth with Samsung and new opportunities with Honor, Vivo, and Xiaomi [8][10] Financial Outlook - **Revenue Impact**: Approximately $250 million in revenue expected to be affected due to reduced 5G smartphone shipments, translating to a loss of 50-75 million units [13] - **Mobile Business Growth**: Anticipated quarter-on-quarter growth in Mobile for the remainder of the year, despite inventory-related delays [15][16] - **Gross Margin Expectations**: Gross margins expected to decline to around 50% due to lower margin mix and volumes, with a path back to 52% gross margins anticipated as volumes rebound [57][58] Strategic Initiatives - **Power Management and Acquisitions**: Growth in the Power business through acquisitions like Active-Semi and United Silicon Carbide, focusing on programmable power management and efficiency [7][46][49] - **Emerging Technologies**: Engagement in Ultra-wideband and sensor technologies, with applications in gaming phones and electric vehicles [29][30] Competitive Landscape - **Market Positioning**: Qorvo maintains a strong position against competitors like Qualcomm, with no loss of market share in China despite increased competition from local suppliers [55][56] - **Future Growth Areas**: Potential growth in data centers and silicon photonics, although current focus remains on power management rather than optical technologies [69][70] Long-term Growth Projections - **IDP Business Growth**: IDP expected to grow at double-digit rates, driven by 5G networking, aerospace, and defense sectors [41][60] - **New Product Segments**: Approximately 30% of revenue from non-smartphone areas growing in double digits, indicating strong potential for future growth [43] Additional Insights - **Consumer Behavior in China**: Uncertainty regarding consumer spending post-lockdowns, with potential shifts in priorities affecting smartphone purchases [20] - **Inventory Management**: Challenges in managing inventory levels across customers, impacting revenue recognition and gross margins [32][63] This summary encapsulates the key insights and strategic directions discussed during the conference call, highlighting Qorvo's current market position, challenges, and future growth opportunities.

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 fiscal year ended April 2, 2022 or ☐ 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 001-36801 Qorvo, Inc. (Exact name of registrant as specified in its charter) Delaware 46-5288992 (State or other jurisdicti ...

Qorvo, Inc. (NASDAQ:QRVO) Q4 2022 Earnings Conference Call May 4, 2022 5:00 PM ET Company Participants Douglas DeLieto - Vice President, Investor Relations Bob Bruggeworth - President & Chief Executive Officer Grant Brown - Interim Chief Financial Officer Eric Creviston - President, Mobile Products Group Philip Chesley - President, Infrastructure & Defense Products Group Conference Call Participants Harlan Sur - JPMorgan Toshiya Hari - Goldman Sachs Blayne Curtis - Barclays Joe Moore - Morgan Stanley Edwar ...