Cirrus Logic ( (CRUS) ) has released its Q3 earnings. Here is a breakdown of the information Cirrus Logic presented to its investors.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Cirrus Logic, a leading provider of audio and high-performance mixed-signal solutions, specializes in innovative components for smartphones, laptops, and other markets within the semiconductor industry.
The company recently reported its Q3 FY25 earnings, showcasing a revenue of $555.7 million, which surpassed the high end of their guidance range, alongside GAAP and non-GAAP earnings per share of $2.11 and $2.51 respectively. The quarter witnessed strong demand for its smartphone products, particularly the new custom boosted amplifier and 22-nanometer smart codec, and marked its expansion into laptops and automotive applications.
Key financial highlights include a 53.6% gross margin, reflecting a shift towards higher-margin products, and a notable operating profit of 26.2% on a GAAP basis and 30.4% on a non-GAAP basis. Cirrus Logic’s audio and HPMS product lines accounted for 62% and 38% of total revenue, respectively, with a substantial 91% of revenue derived from one significant customer. The company also reported a strong cash and investment balance of $816.6 million.
Looking ahead, Cirrus Logic anticipates a revenue range of $350 million to $410 million for the next quarter, with gross margins expected between 51% and 53%. The company remains focused on leveraging its expertise to drive growth across smartphones, laptops, and emerging markets, maintaining its leadership in audio while expanding HPMS content.
With strong execution and innovative design, Cirrus Logic is well-positioned to capitalize on future growth opportunities, enhancing its product diversification and expanding its market footprint.
