NASDAQ$CRUS

Cirrus Logic Inc · Q2 2025 earnings

Q2 2025 earnings · · Investor relations

Briefing

Cirrus Logic reported record revenue and earnings per share for the September quarter.

Cirrus Logic reported record revenue and earnings per share driven by strong demand for smartphone products. The company also secured new design wins in the laptop market and began shipping its first power product.

  • Revenue reached $541.9 million.
  • GAAP gross margin was 52.2 percent.
  • GAAP earnings per share was $1.83.
  • Non-GAAP earnings per share was $2.25.

Headline financials

Total Revenue

$542M

Previous: $481M+12.6%
EPS

$1.83

Previous: $1.80+1.7%
Non-GAAP Gross Margin

52.2%

Previous: 51.3%+1.8%
GAAP Operating Expenses

$151M

No prior period
Non-GAAP Operating Expenses

$127M

No prior period
GAAP Operating Profit

24.3%

No prior period
Non-GAAP Operating Profit

28.8%

No prior period
GAAP Effective Tax Rate

27.0%

No prior period
Non-GAAP Effective Tax Rate

23.8%

No prior period
Cash Flow from Operations as a Percentage of Revenue

1.5%

No prior period
Capital Expenditures as a Percentage of Revenue

0.5%

No prior period
Free Cash Flow Margin

1.0%

No prior period
GAAP Gross Margin

52.2%

Previous: 51.3%+1.8%
Capital Expenditures

-$12.7M

Previous: -$20.8M+39.1%
Free Cash Flow

$89.5M

Previous: $54.6M+63.8%
Net Income

$102M

Previous: $75.4M+35.5%
Operating Income

$132M

Previous: $106M+24.7%
Gross Profit

$283M

Previous: $247M+14.6%
R&D Expense

$113M

No prior period
Stock-Based Comp

$22.4M

Previous: $21.3M+5.2%

Revenue & EPS history

Cirrus Logic · Revenue · Quarterly

$542M

Q2 2025+12.6%vs Q2 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

Revenue is expected to range between $480 million and $540 million for Q3 FY25.

Tailwinds

  • GAAP gross margin is forecasted to be between 51 percent and 53 percent.
  • Combined GAAP R&D and SG&A expenses are anticipated to range between $148 million and $154 million.
  • Stock-based compensation expense is expected to be approximately $22 million.
  • Amortization of acquired intangibles is expected to be $2 million.
  • Non-GAAP operating expenses are anticipated to range between $124 million and $130 million.

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 Q2 2025

Historical avgQ2 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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