Description

Cirrus Logic’s $2 Billion Year: Can PC Growth Reduce Smartphone Dependence?

Cirrus Logic reported strong financial performance for the fourth quarter and full fiscal year 2026, achieving record revenue and earnings per share. Quarterly revenue reached $448.5 million, surpassing guidance midpoint, while full-year revenue totaled $2 billion, marking a 5% increase over the previous year. This growth was primarily driven by demand for smartphone components and increased sales in the PC segment. The company also posted record GAAP and non-GAAP earnings per share for the fiscal year. Gross margins stood at 53% for the quarter and 52.8% for the year, with the year-over-year improvement attributed to a more favorable product mix despite higher freight costs impacting margins in the quarter. Operating expenses for the quarter were $126.1 million, slightly down sequentially but higher year-over-year due to increased employee-related costs. Non-GAAP operating income for the fiscal year was $548.8 million, resulting in a 27.5% operating margin, an improvement from 26.