Q4 2025 Cirrus Logic Inc Earnings Call Transcript
Key Points
- Cirrus Logic Inc (CRUS) delivered revenue of $424.5 million in the March quarter, exceeding the top end of their guidance range.
- For the full fiscal year 2025, the company achieved revenue of $1.9 billion, marking a 6% year-over-year increase.
- The company reported record GAAP and non-GAAP earnings per share for the full fiscal year.
- Cirrus Logic Inc (CRUS) returned $261 million to shareholders through share repurchases, setting a new record for a full fiscal year.
- The company made significant progress in expanding its product portfolio, including new generation products in the smartphone audio business and high-performance mixed signal areas.
- Revenue in Q4 fiscal year 2025 was down 24% sequentially, primarily due to a reduction in smartphone volumes.
- The company is facing uncertainties related to the macroeconomic environment and potential impacts from tariffs.
- Non-GAAP operating expenses for the fiscal year 2025 increased by $23.7 million, primarily due to higher employee-related expenses and variable compensation.
- Inventory levels increased, with days of inventory rising to 138 days, up 40 days sequentially.
- Guidance for Q1 fiscal year 2026 indicates a revenue decline of 15% sequentially and 4% year-over-year at the midpoint.
Ladies and gentlemen, thank you for standing by. Welcome to the Cirrus Logic fourth quarter and full fiscal year 2025 Financial results Q&A session. (Operator Instructions). As a reminder, this conference call is being recorded for replay purposes.
I would now like to turn the conference call over to Ms. Chelsea Heffernan, Vice President of Investor Relations. Ms. Heffernan, you may begin.
Thank you and good afternoon. Joining me on today's call is John Forsyth, Cirrus Logic's Chief Executive Officer, and Jeff Wollard, our Chief Financial Officer. Today at approximately 4 p.m. Eastern time, we announced our financial results for the fourth quarter and full fiscal year 2025. The shareholder letter discussing our financial results.
The earnings press release and the webcast of this Q&A session are all available at the company's Investor Relations website. This call will feature questions from the analysts covering our company. Additionally, the results and guidance
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