Cirrus Logic(US:CRUS)2025-08-05 21:00Company Overview - Cirrus Logic was founded in 1984 and is listed on NASDAQ as CRUS[5] - The company's FY25 revenue was $1.90 billion[5] - Cirrus Logic has approximately 4,210 pending and issued patents worldwide[5] Growth Strategy - The company's three-pronged strategy includes maintaining its leadership in smartphone audio, increasing HPMS content in smartphones, and expanding into additional applications and markets[22] - Cirrus Logic is expanding its SAM (Serviceable Available Market) in a vast mixed-signal market, projecting the audio and high-performance mixed-signal market to reach $8.5 billion in 2029, compared to $6.8 billion in 2025[24] - The company is focused on expanding into laptops, tablets, wearables, gaming, and AR/VR, as well as professional audio, automotive, industrial, and imaging end markets[35] - The PC SAM (Serviceable Available Market) is approximately $1.2 billion, comprising ~$440 million in audio SAM and ~$800 million in HPMS SAM[37] Financial Performance - In Q1 FY26, Cirrus Logic's revenue was $407.3 million, with a gross margin of 52.6% and combined R&D/SG&A expenses of $141.6 million[48] - The company's Q2 FY26 guidance projects revenue between $510 million and $570 million, with a gross margin between 51% and 53% and combined R&D/SG&A expenses between $153 million and $159 million[48] - In Q1 FY26, the company's largest customer represented 86% of total revenue[52] - The company generated $1.7 billion of operating cash flow over the last 5 full fiscal years[58]