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Beyond Apple: Cirrus Logic's Record Quarter Fuels Growth
6 Aug
Summary
- Cirrus Logic reported record Q1 revenue of $460 million, up 13% year-over-year.
- Company posted record June quarter GAAP and non-GAAP earnings per share.
- Fiscal Q2 2027 revenue is projected between $510 million and $570 million.
Cirrus Logic achieved a record $460 million in fiscal first-quarter revenue for the June quarter, a 13% increase year-over-year. This growth was significantly driven by higher component sales into smartphones. The company also reported record GAAP and non-GAAP earnings per share for the period.
Despite pricing reductions impacting gross margin sequentially, the company's non-GAAP gross margin was 52.7%. Operating expenses increased due to investments in research and development and employee costs. For the fiscal second quarter of 2027, Cirrus Logic forecasts revenue between $510 million and $570 million.
A temporary boost to gross margin is expected in the September quarter from favorable wafer agreements, with normalization anticipated thereafter. Management noted that quarterly seasonality is now tighter, with June quarter results exceeding historical averages.
