GREENSBORO, N.C., May 20, 2024 (GLOBE NEWSWIRE) -- Qorvo® (Nasdaq: QRVO), a leading global provider of connectivity and power solutions, today announced that a federal jury in the U.S. District Court for the District of Delaware returned a verdict on Friday, May 17, 2024, in favor of Qorvo, finding that Akoustis Technologies, Inc. and Akoustis Inc. (together, "Akoustis") willfully and maliciously misappropriated Qorvo trade secrets and infringed certain Qorvo patents relating to BAW filter designs. The jury ...

GREENSBORO, N.C., May 20, 2024 (GLOBE NEWSWIRE) -- Qorvo® (Nasdaq: QRVO), a leading global provider of connectivity and power solutions, today announced that a federal jury in the U.S. District Court for the District of Delaware returned a verdict on Friday, May 17, 2024, in favor of Qorvo, finding that Akoustis Technologies, Inc. and Akoustis Inc. (together, "Akoustis") willfully and maliciously misappropriated Qorvo trade secrets and infringed certain Qorvo patents relating to BAW filter designs. The jury ...

Qorvo, Inc. (NASDAQ:QRVO) Q4 2024 Earnings Conference Call May 1, 2024 5:00 PM ET Company Participants Douglas DeLieto - Vice President, Investor Relations Bob Bruggeworth - President & Chief Executive Officer Grant Brown - Chief Financial Officer Dave Fullwood - Senior Vice President, Sales & Marketing Conference Call Participants Ruben Roy - Stifel Karl Ackerman - BNP Paribas Edward Snyder - Charter Equity Research Chris Caso - Wolfe Research Srini Pajjuri - Raymond James Thomas O'Malley - Barclays Christ ...

FOR IMMEDIATE RELEASE Qorvo Announces Fiscal 2024 Fourth Quarter Financial Results ® GREENSBORO, N.C., May 1, 2024 — Qorvo (Nasdaq:QRVO), a leading global provider of connectivity and power solutions, today announced financial results for the Company's fiscal 2024 fourth quarter ended March 30, 2024. ® Strategic Highlights On a GAAP basis, revenue for Qorvo's fiscal 2024 fourth quarter was $941 million, gross margin was 40.6%, operating income was $30 million, and diluted earnings per share was $0.03. On a ...

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 30, 2023 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 2024 Earnings Conference Call January 31, 2024 5:00 PM ET Company Participants Douglas DeLieto - Vice President, Investor Relations Robert Bruggeworth - President and Chief Executive Officer Grant Brown - Senior Vice President and Chief Financial Officer Dave Fullwood - Senior Vice President, Sales & Marketing Conference Call Participants Toshiya Hari - Goldman Sachs Ruben Roy - Stifel Nicolaus Edward Snyder - Charter Equity Research Karl Ackerman - BNP Paribas Srini Pajjuri - R ...

Qorvo, Inc. (NASDAQ:QRVO) UBS Global Technology Conference November 29, 2023 2:55 PM ET Company Participants Frank Stewart - SVP and President of Advanced Cellular Douglas DeLieto - Vice President, Investor Relations Dave Fullwood - Senior Vice President, Sales & Marketing Conference Call Participants Tim Arcuri - UBS Tim Arcuri I am Tim Arcuri. I'm a semicon analyst here at UBS. Very happy to have Qorvo next. And we have, Frank Stewart, who is the SVP and President of the ACS, the Advanced Cellular Group. ...

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 September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____to _____ (336) 664-1233 (Registrant's telephone number, including area code) | Securities registered pursuant to Section 12(b) of the Act: | | ...

Financial Data and Key Metrics - Revenue for the quarter was $1.1 billion, with non-GAAP gross margin at 47.6% and non-GAAP diluted EPS at $2.39, all exceeding the high end of the August guidance [87] - The company expects revenue of approximately $1 billion plus or minus $25 million for the current quarter, with non-GAAP gross margin between 43% and 44% [90] - Non-GAAP operating expenses in the quarter were $246 million, slightly higher than guidance due to performance-based incentive compensation [88] - Free cash flow was $64 million, and CapEx was $29 million during the quarter [97] Business Line Data and Key Metrics - ACG (Advanced Connectivity Group) was 77% of revenue, HPA (High Performance Analog) was 14%, and CSG (Custom Solutions Group) was 9% [43] - ACG operating margin was 34%, HPA was 17%, and CSG was negative 27%, which includes the impact of the biotechnology division [89] - The company saw significant content gains at its largest customer, driving revenue growth [87] - The company is investing in new product development and targeting multi-year growth opportunities across all three segments [88] Market Data and Key Metrics - The company's largest customer has a significant impact on March quarter performance, with expectations of seasonal decline in China Android business [4][5][6] - Channel inventories of Qorvo components across the Android ecosystem are approaching historical norms, allowing the company to ship more closely to end market demand [69][70] - The company is seeing growth in ultra-wideband adoption, particularly in automotive and Android markets [84] Company Strategy and Industry Competition - The company is focusing on multi-year technology upgrade cycles supported by global macro trends, including connectivity, sustainability, and electrification [71] - Qorvo is leading the transition to DOCSIS 4.0 in broadband and delivering increasing levels of functional integration for 5G massive-MIMO deployments [72] - The company is expanding its presence in power management markets, with initial wins in SSDs, power tools, and appliances [73] - Qorvo is leveraging its ultra-wideband technology for automotive and Android markets, with significant design wins in both areas [84] Management Commentary on Operating Environment and Future Outlook - The company expects revenue growth and margin expansion as product mix favors higher growth investment businesses [93] - Management believes the company can achieve 50% gross margin on a quarterly basis and subsequently on an annual basis as inventory and utilization levels normalize [16][96] - The company is not expecting a significant rebound in end markets but is optimistic about design wins and inventory normalization driving growth [30][81] Other Important Information - The company repurchased $100 million worth of shares at approximately $103 per share during the quarter [97] - Qorvo's net inventory balance was reduced to $840 million, down $78 million sequentially, with days of inventory decreasing from 210 days to 138 days [98] - The company successfully closed the sale of the Omnia Biotechnology business and will continue to sell BAW filters to support the acquirer [89] Q&A Session Summary Question: Gross Margin Trajectory for Fiscal 2025 - The company expects to achieve 50% gross margin on a quarterly basis before achieving it on an annual basis, depending on macro conditions and utilization levels [106] Question: Seasonal Trends in Q4 - The company expects a seasonal decline in March, particularly in the China Android business, but growth in ACG and CSG segments will offset some of this decline [108] Question: Ultra-Wideband Market Opportunity - The company is seeing significant opportunities in ultra-wideband, particularly in automotive and Android markets, with multiple design wins and expanding applications [38][39] Question: Inventory Levels and Normalization - The company expects to continue reducing inventory levels, with channel inventories approaching historical norms, particularly in the Android ecosystem [99] Question: Competitive Landscape in China - The company does not see significant changes in the competitive environment in China, with local suppliers still behind in key technology areas [21]

Qorvo, Inc. (NASDAQ:QRVO) Goldman Sachs Communacopia + Technology Conference September 7, 2023 6:45 PM ET Company Participants Grant Brown - CFO Frank Stewart - SVP, President Conference Call Participants Toshiya Hari - Goldman Sachs Toshiya Hari Great. I'd like to get started. Good afternoon, everyone. Thank you so much for coming. I'm Toshiya Hari. I cover the semiconductor space at Goldman Sachs. Very excited to have the team from Qorvo with us this afternoon. We have Grant Brown, Chief Financial Officer ...