Cirrus Logic Inc

Latest Results (15.05.2026):

Cirrus Logic, Inc. reported results for the third quarter of fiscal year 2026 (ended December 27, 2025): revenue of $580.6 million, strong margins and cash generation, and both GAAP and non‑GAAP earnings that beat the company's guidance; management highlighted product diversification progress and provided guidance for the fourth quarter of FY26.

Revenue

Q3 FY26 revenue was $580.6 million, up sequentially from $561.0 million (Q2'26) and up year‑over‑year from $555.7 million (Q3'25); the company said revenue exceeded the high end of its guidance driven by smartphone demand and favorable end‑device mix.

Profitability

GAAP gross margin was 53.1%; GAAP operating expenses were $155.2 million and non‑GAAP operating expenses were $133.0 million. GAAP diluted EPS was $2.66 and non‑GAAP diluted EPS was $2.97 for the quarter.

Net income and operating income

GAAP net income was $140.3 million and GAAP income from operations was $152.9 million; non‑GAAP operating income was $175.1 million (30.2% operating profit on a non‑GAAP basis).

Cash flow and balance sheet

Q3 operating cash flow was $290.8 million and reported free cash flow (non‑GAAP) was about $285.7 million for the quarter after ~$5.2 million of capital expenditures. Cash and cash equivalents totaled $778.1 million at quarter end.

Capital allocation

The company used ~$70.0 million to repurchase and retire common stock and ~$30.7 million to satisfy employee tax withholding obligations in the quarter; net cash used in financing activities was ~$99.7 million.

Outlook (Q4 FY26)

Guidance for Q4 FY26: revenue $410–$470 million; GAAP gross margin 51%–53%; combined GAAP R&D and SG&A $147–$153 million (including ~$21 million stock‑based comp. and ~$2 million amortization), implying non‑GAAP operating expenses of $124–$130 million.

Strategy and product progress

Management emphasized progress expanding the addressable market and diversifying products—sampling a component for voice interfaces in AI‑enabled PCs, ramping a next‑gen amplifier and codec in mainstream PCs, and adding product families for prosumer and automotive markets to broaden end‑market exposure.