NASDAQ$CRUS

Cirrus Logic Inc · Q1 2025 earnings

Q1 2025 earnings · · Investor relations

Briefing

Cirrus Logic's Q1 2025 revenue exceeded guidance, driven by strong smartphone shipments and progress in product diversification.

Cirrus Logic reported revenue of $374.0 million for the first quarter of fiscal year 2025, exceeding the top end of its guidance range due to stronger-than-expected smartphone shipments. The company also began ramping production of custom boosted amplifiers and 22-nanometer smart codecs, and saw strong design activity in laptops.

  • Revenue was $374.0 million.
  • GAAP and non-GAAP gross margin were 50.5 percent and 50.6 percent, respectively.
  • GAAP earnings per share was $0.76 and non-GAAP earnings per share was $1.12.
  • Began ramping production of custom boosted amplifier and first 22-nanometer smart codec ahead of new smartphone launches expected later this year.

Headline financials

Total Revenue

$374M

Previous: $317M+18.0%
EPS

$0.76

Previous: $0.67+13.4%
Non-GAAP Gross Margin

50.6%

Previous: 50.4%+0.4%
GAAP Operating Expenses

$142M

No prior period
Non-GAAP Operating Expenses

$118M

No prior period
GAAP Operating Profit

12.5%

No prior period
Non-GAAP Operating Profit

19.0%

No prior period
GAAP Effective Tax Rate

25.6%

No prior period
Non-GAAP Effective Tax Rate

23.0%

No prior period
GAAP Gross Margin

50.5%

Previous: 50.3%+0.4%
Capital Expenditures

-$9.99M

Previous: -$12.3M+18.8%
Free Cash Flow

$32.1M

Previous: $3.29M+875.8%
Net Income

$42.1M

Previous: $15.6M+169.8%
Operating Income

$46.8M

Previous: $17.8M+163.0%
Gross Profit

$189M

Previous: $159M+18.5%
R&D Expense

$105M

No prior period
Stock-Based Comp

$21.4M

Previous: $22.7M-5.9%

Revenue & EPS history

Cirrus Logic · Revenue · Quarterly

$374M

Q1 2025+18%vs Q1 2024
Beat estimate in 14 of 15 quarters(93%)
ActualEstimate

Revenue by segment

Cirrus Logic · $2B total across 2 segments · Q4 2026

  • Audio Products
    $1.16B
  • HPMS Products
    $837M

Forward guidance

Cirrus Logic expects revenue to range between $490 million and $550 million for the second quarter of fiscal year 2025, with GAAP gross margin forecasted between 50 percent and 52 percent. Combined GAAP R&D and SG&A expenses are anticipated to range between $149 million and $155 million.

Tailwinds

  • Revenue is expected to range between $490 million and $550 million.
  • GAAP gross margin is forecasted to be between 50% and 52%.
  • R&D and SG&A expenses are anticipated to range between $149 million and $155 million.
  • Stock-based compensation expense of approximately $22 million is included in the R&D and SG&A expenses.
  • Amortization of acquired intangibles of approximately $2 million is included in the R&D and SG&A expenses.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q1 2025

Historical avgQ1 2025

+1.4%

Avg return

Earnings day

+2.3%

Avg return

5 days after

+3.0%

Avg return

30 days after

51%

33 / 65 earnings

Positive

+27.0%

Q1 2013

Best reaction

-14.6%

Q2 2014

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q4 2026-1.7%+6.2%+2.7%
Q3 2026+8.3%+12.1%+4.6%
Q2 2026-7.8%-8.4%-4.5%
Q1 2026-7.4%-0.4%+10.2%
Q4 2025+2.6%+1.2%+3.0%
Q3 2025+7.8%+3.0%+7.4%
Q2 2025-6.8%-6.0%-6.0%
Q1 2025+9.9%+17.7%+22.5%
Q4 2024+13.6%+17.9%+32.0%
Q3 2024+14.2%+18.2%+19.8%
Q2 2024+3.9%+6.8%+12.1%
Q1 2024+2.9%+3.3%+3.3%
Q4 2023-6.4%-9.1%-6.3%
Q3 2023+9.8%+14.4%+11.3%
Q2 2023+5.6%+1.6%+11.9%
Q1 2023+5.6%+2.4%-11.6%
Q4 2022+5.6%+0.8%+7.4%
Q3 2022-2.7%-3.0%+3.2%
Q2 2022+1.4%-2.4%+0.0%
Q1 2022-1.5%-4.4%+1.8%
Q4 2021-13.6%-12.7%-9.3%
Q3 2021-4.0%-8.9%-16.7%
Q2 2021+0.6%+7.3%+17.2%
Q1 2021-0.1%-5.7%-8.2%
Q4 2020+2.7%+7.7%+1.7%
Q3 2020+0.5%-7.4%-17.6%
Q2 2020+17.1%+17.2%+23.6%
Q1 2020+15.7%+5.8%+8.8%
Q4 2019+3.6%+4.5%-21.5%
Q3 2019-1.1%+0.1%+9.3%
Q2 2019+10.8%+11.0%+0.0%
Q1 2019-7.2%-1.2%+1.6%
Q4 2018-0.4%+2.0%-3.8%
Q3 2018-7.2%-9.3%-6.4%
Q2 2018+1.3%+2.0%-4.6%
Q1 2018-6.5%-8.8%-6.7%
Q4 2017-0.3%-2.6%+4.4%
Q3 2017-8.8%-8.0%-11.1%
Q2 2017+5.1%+6.7%+9.2%
Q1 2017+22.3%+21.4%+26.0%
Q4 2016+12.4%
Q3 2016+15.9%
Q2 2016+3.3%
Q1 2016+10.6%
Q4 2015+4.2%
Q3 2015+0.4%
Q2 2015-12.7%
Q1 2015-2.3%
Q4 2014+12.5%
Q3 2014-11.9%
Q2 2014-14.6%
Q1 2014-8.7%
Q4 2013-6.3%
Q3 2013-1.8%
Q2 2013-9.1%
Q1 2013+27.0%
Q4 2010-2.3%
Q4 2012-2.3%
Q4 2011-2.3%
Q3 2012-8.1%
Q2 2011+2.4%
Q2 2012+2.4%
Q3 2011-2.2%
Q1 2012-2.2%
Q1 2011-2.2%

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