Description

Cirrus Logic Unlocks New Markets With Camera, Battery And Power Management Chips!

Cirrus Logic reported record first quarter fiscal 2027 results with revenue of $460 million, reflecting a 2% sequential and 13% year-over-year increase, predominantly driven by stronger smartphone component sales despite anticipated pricing reductions. Non-GAAP gross margin reached 52.7%, slightly increasing year-over-year due to favorable product mix but offset by higher freight and supply chain costs, and reflecting a sequential decline tied to pricing pressures partially mitigated by cost reductions. Operating expenses increased both sequentially and year-over-year, driven mainly by elevated employee-related costs, professional services, and R&D investments. Non-GAAP operating income stood at $106.7 million, or 23.2% of revenue, and non-GAAP earnings per share reached $1.84 for the quarter. The company’s balance sheet remains strong with $1.2 billion in cash and investments and no debt. Inventory levels increased moderately to about 110 days. Free cash flow margin stood at 11% for the quarter and 28% over the trailing 12 months.